Archive for April, 2010

SearchMedia (IDI) Provides Preliminary Full Year 2009 Unaudited Financial Results and Operational Update

SHANGHAI, CHINA — (Marketwire) — 04/16/10 — SearchMedia Holdings Limited (“SearchMedia” or the “Company”) (NYSE Amex: IDI) (NYSE Amex: IDI.WS), one of China’s leading nationwide multi-platform media companies, today provided an operational update and preliminary unaudited financial results for the full year 2009. The Company also provided financial guidance for the full year 2010.

Rob Fried, Co-Chairman of the Board of Directors of SearchMedia, commented, “Following the completion of the SPAC transaction, we discovered operational and other issues primarily relating to the Shanghai Jingli Advertising Company Limited (“Jingli”) in-elevator division of the Company. In response, we quickly brought new, reliable senior management to the Company and worked to assess the depth and magnitude of the issues. In accordance with our findings, we may reverse approximately $16 to $18 million of revenues previously reported for the first nine months of 2009, which could not be substantiated in our year-end review. We have also made other important changes, including restructuring the in-elevator division personnel and management processes to enhance stability, revenue collectability and business transparency going forward.”

Paul Conway, Chief Executive Officer of SearchMedia, remarked, “Despite the issues caused under prior management, we still have been able to realize significant progress in our new business development efforts thus far in 2010. We have several transactions in progress that will better align interests between subsidiaries and shareholders, create additional long-term revenue opportunities, strengthen and diversify our service suite in China’s media sector, and enhance our national presence through accretive transactions. We intend to keep our investors up to date and make additional announcements as these endeavors evolve. Importantly, our outdoor billboard and transit businesses were strong in the first quarter of 2010, and we believe the prospects for 2010 and beyond are excellent.”

Preliminary Unaudited Financial Results and Other Matters

Today, the Company is providing preliminary unaudited financial results for the full year 2009, which reflect the impact of a potential significant revenue reversal and other extraordinary items primarily related to the Company’s business conducted through Jingli.

For the full year 2009, the Company anticipates $64 to $66 million in revenue, after giving effect to the aforementioned $16 to $18 million revenue reversal. The Company’s operating profit and net income were significantly impacted because, despite the reversal, the Company was obligated to recognize the associated costs of revenues and operating expenses in full. Assuming the effect of the revenue reversal, but before additional bad debt reserve and a write-off of fixed assets and under-accrued liabilities discussed below, the Company estimates operating profit to be approximately $1 to $3 million and net loss to be approximately $6 to $8 million.

Based on currently available estimates, the Company expects to provide for a $7 million additional bad debt reserve for sales primarily generated prior to 2009 and to write off $6 million of fixed assets and other assets and under-accrued liabilities. The effect of these extraordinary charges and adjustments is to decrease the Company’s estimated results of operations to an operating loss of $10 to $12 million and to increase its estimated net loss to approximately $19 to $21 million.

As of December 31, 2009, the Company had approximately $30 million in cash and cash equivalents, and approximately 20.7 million common shares outstanding.

Excluding allocation of corporate overhead and the entire Jingli business, where most of the revenue reversal and extraordinary items occurred, SearchMedia believes it generated approximately $54 to $56 million in revenue and $15 to $16 million in net income for the full year 2009 from its other operating subsidiaries. These results reflect strong revenue performance and profitability at the Company’s subsidiaries.

Wilfred Chow, Chief Financial Officer of SearchMedia, stated, “We are aggressively pursuing collection of receivables across the Company, even including those deemed uncollectible in 2009. Additionally, we provided our preliminary 2009 financial results excluding the Jingli business and allocation of corporate overhead to facilitate an accurate understanding of our subsidiary operations.”

Chow continued, “Also note that as of the market close on April 14, 2010, SearchMedia had approximately 22 million fully diluted shares outstanding, and this is before any potential cancellation of shares from the Share Exchange Agreement that we are currently pursuing.”

Paul Conway continued, “We believe lack of oversight, inadequate customer approval procedures, staff turnover and poor record keeping under prior management in 2009, among other things, led to a high receivables risk. In the past few months, we took steps to dramatically tighten internal controls and vigorously pursue the collection of receivables. As a result of potential misrepresentations related to the business, we continue to pursue all legal remedies available to the Company and we are continuing discussions with several of the original SearchMedia shareholders to address potential remedies, including cancellation of some of the shares issued in the Share Exchange Agreement.”

Previously, the Company had received anonymous letters claiming fraudulent activities at its operation in China. In connection with these letters, a special committee of the SearchMedia board of directors engaged independent counsel and forensic accountants to assist it conducting an extensive investigation into the claims made in these anonymous letters. As of the date of this release, the investigation has been substantially completed and management has implemented many remedial actions, including those discussed below, to strengthen internal controls and procedures and to address some of the issues identified during the investigation.

In the first quarter of 2010, SearchMedia began implementing many operational improvements including but not limited to the following:

— Enhancing the senior management team with the hiring of a new CEO and CFO and the addition of in-house corporate counsel;

— Strengthening the finance and accounting function with the addition of a Vice President of Finance and a focus on better utilization of accounting systems between the parent company and subsidiaries;

— Restructuring of the in-elevator business, including management changes and rationalization of underperforming branch offices; and

— Improving the Company’s future ability to collect revenue for services rendered by linking sales commissions to accounts receivable collection, mandating a customer validation and approval process, requiring an internal contract review process, conducting systematic bad debt reviews between sales and accounting teams, and strengthening documentation of services rendered..

Transactional Update and Business Development Efforts

In addition to the aforementioned operational improvements, SearchMedia also achieved notable progress in solidifying long-term revenue opportunities, strengthening its service suite in China’s media sector and taking steps to enhance its national presence through a pending, accretive acquisition. More specifically, SearchMedia recently:

— Entered into multi-year agreements with management of three of SearchMedia’s largest subsidiaries, which, among other things, incentivizes the teams to focus on long-term operational and performance goals. SearchMedia believes these agreements better align interests between subsidiaries, the parent company and shareholders. The Company is also in active discussion with management of its other operating subsidiaries for similar arrangements;

— Signed a new one year cooperation agreement with a leading outdoor media company to provide bus advertisements, which further expands the Company’s media portfolio and its ability to provide a one-stop-shop for clients; and

— Entered into an agreement to acquire a profitable billboard company located in one of the most affluent cities in China. The acquisition is expected to close by the end of the second quarter of 2010 and strengthens SearchMedia’s competitive position. The target has a long history of operations in China and has an established presence in one of the most desirable markets in the country. Through this acquisition, the Company will enhance its ability to support and deliver broader, more comprehensive national sales campaigns. The transaction is subject to final government approval.

Conway added, “These operational achievements demonstrate our commitment and ability to facilitate the long-term growth of SearchMedia. General order demand in both our billboard and subway businesses remains solid for 2010, and we are already seeing improvements in our in-elevator operations. We are placing strong emphasis on maximizing our overall margin performance and the expansion of our media portfolio. With these goals in mind, we have modified agreements with management at our operating subsidiaries and structured the terms of the pending acquisition so that the incentives are best aligned with SearchMedia’s and its shareholders’ interests. As we continue to expand our media portfolio and geographic presence, we hope to further expand our network for national sales campaigns while also building a more comprehensive one-stop-shop for our clients.

“Importantly, we remain confident in our ability to further SearchMedia’s growth. As of today, we are estimating revenue of approximately $85 million in 2010 and net income of approximately $18 million. This is up substantially from the results we announced today, driven by continued organic growth across our media platforms, geographic expansion, and select potential new concessions and acquisitions,” said Conway.

Timing of 10K Filing

The Company believes that it cannot complete the disclosure necessary for its Annual Report on Form 10-K within the extended filing deadline of April 15, 2010. The Company intends to file its Annual Report on Form 10-K by May 17, 2010. The preliminary financial results presented above are subject to the final resolution of the operational issues described above and completion of the audit by the Company’s independent auditors. Accordingly, the audited results presented in the Company’s Annual Report on Form 10-K may differ materially from these preliminary results.

Mr. Chow concluded, “We appreciate the patience of our stockholders as we work to complete our financial reporting process. As the Company is continuing to fully assess the extent of the financial impact of the operational and other issues discovered during the year-end review, we believe that it is prudent to further delay our filing until we fully complete our review. Furthermore, we believe our decision to conduct a thorough and diligent review now will allow us to provide shareholders with more accurate and consistent information going forward.”

Conference Call

The Company will host a conference call on Monday, April 19, 2010 at 8:00 AM U.S. Eastern Time to discuss preliminary full year 2009 results and provide an operational update. Listeners may access the call by dialing 1-800-500-0311 for domestic callers and 1-719-457-1513 for international callers, conference ID: 9821349.

The telephone replay will be available on the day of the call at 1-888-203-1112 for domestic callers and 1-719-457-1517 for international callers, Conference ID: 9821349, and continue to be available through April 26, 2010.

About SearchMedia

SearchMedia is a leading nationwide multi-platform media company and one of the largest operators of integrated outdoor billboard and in-elevator advertising networks in China. SearchMedia currently operates a network of over 1,500 high-impact billboards with over 500,000 square feet of surface display area and one of China’s largest networks of in-elevator advertisement panels consisting of approximately 125,000 frames in 50 cities throughout China. Additionally, SearchMedia operates a network of large-format light boxes in concourses of eleven major subway lines in Shanghai. SearchMedia’s core outdoor billboard and in-elevator platforms are complemented by its subway advertising platform, which together enable it to provide a multi-platform, “one-stop shop” services for its local, national and international advertising clients.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts, including statements about SearchMedia’s beliefs and expectations, may constitute forward-looking statements as that term is defined by the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” “believe,” “estimate,” “confident” and similar statements. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to: the collectability of certain accounts receivable, the Company’s ability to achieve long-term profitable growth, the integration of new management into the Company’s current management team, that discussions with original shareholders of SearchMedia may not be concluded successfully and the Company may not be able to achieve satisfactory remedies or cancel any shares issued pursuant to the Share Exchange Agreement; that there may be additional discoveries that negatively impact the Company’s revenues and net income or the adjustments may be greater than anticipated; that there may be uncollectible accounts receivable or other issues impacting financial results in the Company’s operating businesses beyond the in-elevator business; that our estimates and preliminary financial results for 2009 are subject to additional review and adjustment and the audited financial results may be materially different; that our estimates and projections for 2010 are based on assumptions that may prove to be incorrect and actual financial results for 2010 may be materially different; that the Company may be unable to complete its review in time to file its Annual Report on Form 10-K by May 17, 2010; that failure to file our Annual Report on time or to publish adequate financial information may result in the delisting of our securities from quotation on the NYSE AMEX or a suspension in the trading of our common stock which would materially limit the liquidity or tradability of our common stock; that the billboard and subway businesses may be weaker than anticipated and the Company may not be able to build its revenue bases or expand its presence in China through new concessions or at all; that potential acquisition and growth opportunities may not materialize or may not be completed; that extended contracts with management of certain of the Company’s operating subsidiaries may not provide the anticipated benefits or long-term relationships; and the risks that there are uncertainties and matters beyond the control of management, and other risks outlined in the Company’s filings with the U.S. Securities and Exchange Commission. SearchMedia cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. SearchMedia does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.

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ImmunoGen, Inc. (IMGN) Announces Favorable Update Provided by Roche

Apr. 15, 2010 (Business Wire) — ImmunoGen, Inc. (Nasdaq: IMGN), a biotechnology company that develops targeted anticancer products, today announced that Roche has provided a favorable update related to its plans to apply for marketing approval of trastuzumab-DM1 (T-DM1) in the US.

T-DM1 comprises ImmunoGen’s DM1 cancer-cell killing agent linked to the HER2-targeting antibody, trastuzumab, developed by Genentech, a wholly owned member of the Roche Group. T-DM1 is in global development by the Roche Group under a collaboration agreement between Genentech and ImmunoGen.

In its quarterly release issued earlier today, Roche disclosed that company representatives have had discussions with the US Food and Drug Administration (FDA) and that, based on these discussions, Genentech/Roche plans to submit a marketing application to the FDA in 2010 for use of T-DM1 in the treatment of advanced HER2-positive metastatic breast cancer. This is cancer that has progressed on multiple prior therapies including trastuzumab- and lapatinib-containing regimens for metastatic disease. The basis for this application is to be the positive Phase II data that were presented at the San Antonio Breast Cancer Symposium in December 2009.

“We’re pleased that Roche has provided this update and look forward to the submission of the US marketing application for T-DM1,” commented Daniel Junius, President and CEO.

About ImmunoGen’s Targeted Antibody Payload (TAP) Technology

The Company’s TAP technology uses antibodies to deliver one of ImmunoGen’s proprietary cancer-cell killing agents (e.g., DM1, DM4) specifically to tumors. ImmunoGen developed these agents specifically for targeted delivery to tumor cells. They are 1,000 – 10,000-fold more potent than standard chemotherapeutics and are designed to be attached to antibodies using one of the Company’s engineered linkers. In addition to T-DM1, five other compounds that make use of ImmunoGen’s TAP technology are in clinical testing.

About ImmunoGen, Inc.

ImmunoGen, Inc. develops targeted anticancer therapeutics using its expertise in cancer biology, monoclonal antibodies and the creation and attachment of potent cell-killing agents. The Company’s TAP technology uses antibodies to deliver one of ImmunoGen’s cancer-cell killing agents specifically to tumor targets. In addition to the Company’s product pipeline, compounds utilizing the TAP technology are in clinical testing through ImmunoGen’s collaborations with Genentech (a wholly owned member of the Roche Group), sanofi-aventis, Biogen Idec and Biotest. The most advanced compound, T-DM1, is in Phase III testing being conducted by Genentech and Roche. Other ImmunoGen collaborative partners include Bayer HealthCare and Amgen. More information about ImmunoGen can be found at www.immunogen.com.

This press release includes forward-looking statements. For these statements, ImmunoGen claims the protection of the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. It should be noted that there are risks and uncertainties related to the development of novel anticancer products, including T-DM1, including risks related to regulatory submissions and outcomes. A review of these risks can be found in ImmunoGen’s Annual Report on Form 10-K for the fiscal year ended June 30, 2009 and other reports filed with the Securities and Exchange Commission.

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Santen and Inspire (ISPH) Announce Approval of DIQUASTM for Dry Eye Treatment in Japan

Apr. 16, 2010 (Business Wire) — Santen Pharmaceutical Co., Ltd. (TOKYO: 4536) and Inspire Pharmaceuticals, Inc. (NASDAQ: ISPH) announced today that the Japanese Ministry of Health, Labour and Welfare granted approval for the new dry eye treatment drug, DIQUAS Ophthalmic Solution 3% (generic name: diquafosol tetrasodium), on April 16, 2010.

Diquafosol was licensed for certain ophthalmic uses from Inspire and DIQUAS Ophthalmic Solution 3% was developed by Santen as a treatment for dry eye. Dry eye is a chronic disorder of the keratoconjunctival epithelium and tear film caused by various factors, and is accompanied by symptoms such as ocular discomfort and visual function disorder. In clinical studies conducted in Japan, DIQUAS Ophthalmic Solution 3% was shown to improve dry eye symptoms by promoting secretion of mucin and water, thereby bringing the tear film closer to a normal state. In addition, no serious ocular or systemic adverse drug reactions were found during the clinical trials.

Dry eye begins with symptoms of ocular discomfort such as burning, stinging or a foreign body sensation. However, when aggravated, the disease can become so serious that it interferes with everyday activities. Recently, studies have shown that the number of dry eye patients is increasing due to environmental pollution, increased visual activities (computer work, etc.), dry air in a room due to air conditioning, increased prevalence of contact lens wear, and in LASIK (laser assisted in-situ keratomileusis) refractive surgery. Currently, sodium hyaluronate ophthalmic solution and artificial tears are the primary products used for the treatment of dry eye syndrome in Japan.

Santen currently markets “Hyalein Ophthalmic Solution 0.1%” and several other dry eye treatment products. The addition of “DIQUAS Ophthalmic Solution 3%” to the Santen product lineup is expected to increase treatment choices for medical professionals, and contribute to improving QOL (quality of life) for dry eye patients.

About DIQUAS

Product name DIQUAS Ophthalmic Solution 3%
Generic name (JAN) Diquafosol tetrasodium
Dosage form Aqueous ophthalmic solution
Indication Dry eye
Dose method Usually, 1 drop at a time, 6 times a day
Storage method Can be stored at room temperature

Product Characteristics

  • DIQUAS is the first approved P2Y2 receptor agonist in the world to be formulated as ophthalmic solution, and has a new mechanism of action for dry eye treatment.
  • DIQUAS improves symptoms of dry eye as it promotes secretion of water and mucin.
  • DIQUAS was well tolerated in dry eye patients in long-term administration, and therefore is expected to have long-term improvement effect against the clinical symptoms of dry eye.
  • No serious ocular or systemic adverse drug reactions have been found.

About Santen Pharmaceutical Co., Ltd.

Founded in 1890, Santen is a $1 billion global company headquartered in Osaka, Japan. Santen researches, develops and markets ophthalmic products for physicians worldwide. Among prescription ophthalmic pharmaceuticals, Santen holds the top share within the Japanese market and is one of the leading ophthalmic companies worldwide. Santen has subsidiaries in the U.S., Europe, and Asia, including its Napa, California based Santen Inc. and its Tampere, Finland based Santen OY. For more information, visit www.santen.com.

About Inspire Pharmaceuticals, Inc.

Inspire is a biopharmaceutical company focused on researching, developing and commercializing prescription pharmaceutical products for ophthalmic and pulmonary diseases. Inspire’s goal is to build and commercialize a sustainable portfolio of innovative new products based on its technical, scientific and commercial expertise. The most advanced compounds in Inspire’s clinical pipeline are denufosol tetrasodium for cystic fibrosis and PROLACRIA (diquafosol tetrasodium ophthalmic solution) 2% for dry eye, which are both in Phase 3 development, and AZASITE® (azithromycin ophthalmic solution) 1% for blepharitis, which is in Phase 2 development. Inspire receives revenues related to the promotion of AZASITE for bacterial conjunctivitis, the co-promotion of ELESTAT® (epinastine HCl ophthalmic solution) 0.05% for allergic conjunctivitis and royalties based on net sales of RESTASIS® (cyclosporine ophthalmic emulsion) 0.05% for dry eye. For more information, visit www.inspirepharm.com.

Inspire Pharmaceuticals, Inc. Forward-Looking Statements

The forward-looking statements in this news release relating to management’s expectations and beliefs are based on preliminary information and management assumptions. Specifically, no assurances can be made with respect to: the addition of DIQUAS increasing treatment choices for medical professionals and improving quality of life for dry eye patients; the ability of DIQUAS to have long-term improvement effect against the clinical symptoms of dry eye; and Inspire’s ability to build and commercialize a sustainable portfolio of innovative new products based on its technical, scientific and commercial expertise. Such forward-looking statements are subject to a wide range of risks and uncertainties that could cause results to differ in material respects. Further information regarding factors that could affect Inspire’s results is included in Inspire’s filings with the SEC. Inspire undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof.

Santen Pharmaceutical, Co., Ltd. Forward-looking Statements

Information provided in this press release contains so-called “Forward-looking Statements”. The realizations of these forecasts are subject to risk and uncertainty from various sources. Therefore, please note that the actual results may differ significantly from the forecasts. Business performance and financial condition are subject to the effects of change in regulations made by the governments of Japan and other nations concerning medical insurance, drug pricing and other systems, and to fluctuations in market variables such as interest rates and foreign exchange rates.

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Phase Forward (PFWD) Agrees to Be Acquired by Oracle

Apr. 16, 2010 (Business Wire) — Phase Forward Incorporated (NASDAQ: PFWD), a leading provider of data management solutions for clinical trials and drug safety, today announced that it has agreed to be acquired by Oracle for $17.00 per share in cash, representing a valuation of approximately $685 million. The transaction is subject to stockholder and regulatory approval and other customary closing conditions and is expected to close in mid-2010.

Bob Weiler, Chairman, President & CEO of Phase Forward, said, “Deployed in over 10,000 clinical trials, Phase Forward’s software has been used successfully by hundreds of customers to accelerate innovation in drug development and patient care delivery. We look forward to combining our complementary wealth of experience with Oracle Health Sciences.”

Phase Forward management and employees are expected to join Oracle as part of the Oracle Health Sciences Global Business Unit. The combination is expected to enable researchers, clinical development professionals, physicians, regulators and patients to more effectively and securely capture, contribute, access and share data. The acquisition of Phase Forward is consistent with Oracle’s strategy to provide mission-critical applications for key industries.

“The life sciences and healthcare industries are converging as they seek to control costs while accelerating patient-centered innovation,” said Neil de Crescenzo, Senior Vice President and General Manager, Oracle Health Sciences. “Phase Forward brings outstanding products and employees with significant expertise to Oracle that will help enable the delivery of personalized medicine and value-based healthcare.”

Phase Forward to Report First Quarter Results on April 27th

On April 27th, Phase Forward will issue its financial results for the first quarter 2010, ended March 31, 2010. As a result of the company’s announced acquisition by Oracle Corporation, the company no longer plans on hosting a conference call after the market close on that day.

About Phase Forward

Phase Forward is a leading provider of integrated data management solutions for clinical trials and drug safety. Phase Forward’s products and services have been utilized in over 10,000 clinical trials involving more than 1,000,000 clinical trial study participants at over 300 organizations and regulatory agencies worldwide including: AstraZeneca, Boston Scientific, Dana-Farber Cancer Institute, Eli Lilly, the U.S. Food and Drug Administration, GlaxoSmithKline, Harvard Clinical Research Institute, Merck Serono, Novartis, Novo Nordisk, PAREXEL International, Procter & Gamble, Quintiles, sanofi-aventis, Schering-Plough Research Institute, Servier, SGS, Tibotec and the U.K. Medicines and Healthcare Products Regulatory Agency. Additional information about Phase Forward is available at www.phaseforward.com.

IMPORTANT ADDITIONAL INFORMATION WILL BE FILED WITH THE SEC

Phase Forward Incorporated (“Phase Forward”) plans to file with the Securities and Exchange Commission (the “SEC”) and mail to its stockholders a proxy statement in connection with the proposed merger with Pine Acquisition Corporation, pursuant to which Phase Forward would be acquired by Oracle Corporation (“Oracle”) (the “Merger”). Investors and security holders of Phase Forward are urged to read the proxy statement and the other relevant material when they become available because they will contain important information about Phase Forward, Oracle and the proposed transaction. The proxy statement and other relevant materials (when they become available), and any and all documents filed by Phase Forward with the SEC, may be obtained free of charge at the SEC’s web site at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by Phase Forward by directing a written request to Phase Forward Incorporated, 77 Fourth Avenue, Waltham, Massachusetts 02451, Attention: Investor Relations. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND THE OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE PROPOSED TRANSACTIONS.

Phase Forward and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the security holders of Phase Forward in connection with the proposed Merger. Information about those executive officers and directors of Phase Forward and their ownership of Phase Forward common stock is set forth in the proxy statement for Phase Forward’s 2010 Annual Meeting of Stockholders, which was filed with the SEC on March 19, 2010, and is supplemented by other public filings made, and to be made, with the SEC by Phase Forward. Investors and security holders may obtain additional information regarding the direct and indirect interests of Phase Forward, Oracle and their respective executive officers and directors in the Merger by reading the proxy statement and other public filings referred to above.

SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS

Certain items in this document may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involved certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements, including, but not limited to, the ability to complete the Merger in light of the various closing conditions, including those conditions related to regulatory approvals, the ability of the parties to consummate the proposed Merger; the impact of the announcement or the closing of the Merger on Phase Forward’s relationships with its employees, existing customers or potential future customers; the ability of Oracle to successfully integrate Phase Forward’s operations and employees; the ability to realize anticipated synergies and costs savings of the proposed Merger; and such other risks detailed in the Phase Forward Annual Report on Form 10-K filed with the SEC on February 26, 2010 and other reports filed with the SEC.

In addition, the statements in this document reflect the expectations and beliefs of Phase Forward and/or Oracle as of the date of this document. Phase Forward and Oracle anticipate that subsequent events and developments will cause their expectations and beliefs to change. However, while Phase Forward and Oracle may elect to update these forward-looking statements publicly in the future, they specifically disclaim any obligation to do so. The forward-looking statements of Phase Forward and/or Oracle do not reflect the potential impact of any future dispositions or strategic transactions, including the Merger, that may be undertaken. These forward-looking statements should not be relied upon as representing Phase Forward’s or Oracle’s views as of any date after the date of this document.

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Inovio Biomedical (INO) to Present at World Vaccine Congress 2010

BLUE BELL, Pa.–(BUSINESS WIRE)–Inovio Biomedical Corporation (NYSE Amex: INO), a leader in DNA vaccine design, development and delivery, announced today that the company will be presenting its DNA vaccine technology platform and the development of universal influenza vaccine candidates at the upcoming World Vaccine Congress to be held in Washington, DC from April 19-22.

Dr. J. Joseph Kim, Inovio President and CEO, is speaking at a panel session on April 20th at 17:15 titled “What’s on the Horizon for DNA Vaccines? Renewing the Promise.” The session will focus on the advancements made in translating the potential of DNA vaccines into the clinic as well as the potential benefits of DNA vaccines vis-à-vis other vaccine platforms in reducing vaccine development times.

“Inovio recently announced interim data from its ongoing cervical cancer therapy trial demonstrating the induction of strong levels of antigen-specific, dose-related antibody and cellular immune responses. We look forward to discussing these results at this important vaccine conference,” noted Dr. Kim.

Dr. Niranjan Y. Sardesai, Inovio Senior VP Research and Development, is speaking in a session on April 20th called “H1N1 Federal Planning and Preparedness and Industry Response to Federal Strategies.” His presentation, scheduled for 14:40, is titled “Designing DNA-based Vaccines with the Capability to Provide Universal Protection against Unmatched Influenza Virus Strains.” The presentation will highlight the ability of Inovio’s SynCon™ technology to side-step current “catch-up” strategies for providing protection against influenza by designing and evaluating broadly cross-protective DNA vaccine candidates against multiple influenza virus sub-types.

The World Vaccine Congress brings together thought leaders from the world’s leading vaccine manufacturers, biotechs, governmental agencies, NGOs, research and academic institutes. For more information on the Congress: http://www.terrapinn.com/2010/wvcdc/index.stm

About Inovio Biomedical Corporation

Inovio Biomedical is focused on the design, development, and delivery of a new generation of vaccines, called DNA vaccines, to prevent and treat cancers and infectious diseases. The company’s SynCon™ technology enables the design of “universal” vaccines capable of protecting against multiple – including newly emergent, unknown – strains of pathogens such as influenza. Inovio’s proprietary electroporation-based DNA vaccine delivery technology has been shown by initial human data to safely and significantly increase gene expression and immune responses. Inovio’s clinical programs include HPV/cervical cancer (therapeutic), avian flu, and HIV vaccines. Inovio is developing its universal and avian influenza vaccines in collaboration with scientists from the University of Pennsylvania, the National Microbiology Laboratory of the Public Health Agency of Canada, and the NIH’s Vaccine Research Center. Other partners and collaborators include Merck, Tripep, University of Southampton, National Cancer Institute, and HIV Vaccines Trial Network. More information is available at http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.inovio.com&esheet=6248773&lan=en_US&anchor=www.inovio.com&index=2&md5=2ef0e60f9c5b9b5dab31314d8f2e0c2a.

This press release contains, in addition to historical information, forward-looking statements. Such statements are based on management’s current estimates and expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Inovio is providing this information as of the date of this press release, and expressly disclaims any duty to update information contained in this press release.

Forward-looking statements in this press release include, without limitation, express and implied statements relating to Inovio’s business, plans to develop electroporation-based drug and gene delivery technologies and DNA vaccines and pre-clinical and clinical studies. Actual events or results may differ from the expectations set forth herein as a result of a number of risks, uncertainties and other factors, including but not limited to: Inovio has a history of losses; all of Inovio’s potential human products are in research and development phases; no revenues have been generated from the sale of any such products, nor are any such revenues expected for at least the next several years; Inovio’s product candidates will require significant additional research and development efforts, including extensive preclinical and clinical testing; uncertainties inherent in clinical trials and product development programs, including but not limited to the fact that pre-clinical and clinical results may not be indicative of results achievable in other trials or for other indications, that results from one study may not necessarily be reflected or supported by the results of other similar studies, that results from an animal study may not be indicative of results achievable in human studies, that clinical testing is expensive and can take many years to complete, that the outcome of any clinical trial is uncertain and failure can occur at any time during the clinical trial process, and that Inovio’s electroporation technology and DNA vaccines may fail to show the desired safety and efficacy traits in clinical trials; all product candidates that Inovio advances to clinical testing will require regulatory approval prior to commercial use, and will require significant costs for commercialization; the availability of funding; the ability to manufacture vaccine candidates; the availability or potential availability of alternative therapies or treatments for the conditions targeted by Inovio or its collaborators, including alternatives that may be more efficacious or cost-effective than any therapy or treatment that Inovio and its collaborators hope to develop; whether Inovio’s proprietary rights are enforceable or defensible or infringe or allegedly infringe on rights of others or can withstand claims of invalidity; and the impact of government healthcare proposals. Readers are also referred to Inovio’s Annual Report on Form 10-K for the year ended December 31, 2009 filed with the Securities and Exchange Commission which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.

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North American Palladium (PAL) Restarts Palladium Production

TORONTO, ONTARIO–(Marketwire – 04/14/10) – North American Palladium Ltd. (“NAP” or “the Company”) (TSX:PDLNews)(AMEX:PALNews) is pleased to announce that it has restarted palladium production at its flagship Lac des Iles (“LDI”) mine in northwestern Ontario. On an annualized basis, NAP expects to produce 140,000 ounces of palladium per year.

“As Canada’s only primary palladium producer, we are extremely pleased to be back in operation and generating cash flow at LDI,” said William J. Biggar, NAP’s president and chief executive office. “The restart is well timed to capitalize on the recent increase in the price of palladium, which now exceeds US$520 per ounce.”

Ore production from the Roby Underground zone at the LDI mine is currently approximately 2,000 tonnes per day, and is expected to increase to its target rate of 2,600 tonnes per day by May 1. The mine is operating seven days per week on two 12-hour shifts per day. The Company has a workforce of 180 at LDI and has recently signed a new collective agreement with the United Steelworkers, effective until May 31, 2012.

The Company also announced that the renewal of its smelting contract with Xstrata Nickel. While the details of the contract are confidential, the terms are similar to the previous contract. A new feature to the contract entitles NAP to receive advance payments of 70% within 60 days following the month of concentrate delivery.

“I would like to express my appreciation to our employees at Lac des Iles for their contribution to the successful and efficient restart of the mine, as well as thank shareholders for their patience and continued support while the mine was on care and maintenance,” added Mr. Biggar. “We are extremely pleased to be back in operation and look forward to a productive year ahead. With two operating mines and a number of development projects in our portfolio, NAP is well positioned to grow its production profile.”

About North American Palladium

NAP is a Canadian precious metals company focused on the production of palladium and gold in mining-friendly jurisdictions. Lac des Iles, the Company’s flagship mine, is one of North America’s two primary palladium producers. Located approximately 85 kilometres northwest of Thunder Bay, Ontario, Lac des Iles has produced palladium since 1993. NAP also owns and operates the Sleeping Giant gold mine located in the prolific Abitibi region of Quebec. The Company has extensive landholdings adjacent to both the Lac des Iles and Sleeping Giant mines, and is pursuing an aggressive exploration program aimed at increasing its reserves and resources in those areas. NAP trades on the TSX under the symbol PDL and on the NYSE Amex under the symbol PAL. The Company’s common shares are included in the S&P/TSX Global Mining Index.

Cautionary Statement on Forward Looking Information

Certain information included in this news release including information relating to exploration results, and future exploration results, constitute ‘forward-looking statements’ within the meaning of the ‘safe harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. The words ‘expect’, ‘believe’, ‘will’, ‘intend’, ‘estimate’ and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies including the possibility that the restart of the Lac des Iles mine may not proceed as planned, and that metals prices, foreign exchange assumptions and operating costs may differ from management expectations. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of North American Palladium to be materially different from the Company’s estimated future results, performance or achievements expressed or implied by those forward-looking statements and that the forward-looking statements are not guarantees of future performance. These statements are also based on certain factors and assumptions. For more details on these estimates, risks, assumptions and factors, see the Company’s most recent Form 40-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities. In addition, there can be no assurance that the Company’s Lac des Iles or Sleeping Giant mines will operate as expected or that other properties can be successfully developed. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.

Wednesday, April 14th, 2010 Uncategorized Comments Off on North American Palladium (PAL) Restarts Palladium Production

Trico Marine Group (TRMA) Closes Asset Sale and Announces New Contract Awards

THE WOODLANDS, Texas, April 14, 2010 (GLOBE NEWSWIRE) — Trico Marine Services, Inc. (Nasdaq:TRMA) (the “Company” or “Trico”) today announced the sale of one of its North Sea class vessels for approximately $16 million to a buyer in Asia, bringing the total in asset sale proceeds since the beginning of the year to approximately $20 million. The Company expects to use the proceeds to service debt obligations.

In addition, the Company today announced new contract awards representing over $25 million in value relating to new subsea contract awards for projects in the North Sea. Contracts awarded for the Company’s Subsea Services and Subsea Protection divisions include the following:

  • DeepOcean was awarded a long term frame agreement for subsea services with a major oil company involving firm work for three annual campaigns covering structural and pipeline inspection in the UK and Norwegian sectors of the North Sea.
  • CTC Marine was awarded its second significant offshore renewable energy contract in the North Sea whereby CTC Marine will load out and install powered cable and then provide the associated survey works, trenching scope, and stabilisation of the cable.

Mr. Compofelice, Chief Executive Officer of the Trico Marine Group, commented, “Offshore renewable energy is an increasing priority worldwide and we expect to play a strong role in the offshore renewable energy supply chain.” He concluded, “As previously indicated, the levels of tendering activity we are seeing within DeepOcean and CTC Marine lead us to be cautiously optimistic for our subsea outlook from the second quarter in 2010 and beyond.”

About Trico Marine Group

The Trico Marine Group is an integrated provider of subsea, trenching and marine support vessels and services.    Trico’s towing and supply division provides a broad range of marine support services to the oil and gas industry through use of its diversified fleet of vessels including the transportation of drilling materials, supplies and crews to drilling rigs and other offshore facilities; towing drilling rigs and equipment, and support for the construction, installation, repair and maintenance of offshore facilities.   Trico’s subsea services and trenching/installation divisions control a well equipped fleet of vessels and operate a fleet of modern ROVs and trenching and other subsea protection equipment. The Trico Marine Group is headquartered in The Woodlands, Texas and has a global presence with operations in the North Sea, West Africa, Mexico, Brazil and Southeast Asia.

For more information about Trico Marine Services, Inc. visit us on the web at www.tricomarine.com.

The Trico Marine Services, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5229

Certain statements in this press release that are not historical fact may be “forward looking statements.” Actual events may differ materially from those projected in any forward-looking statement. There are a number of important factors involving risks and uncertainties beyond the control of the Company that could cause actual events to differ materially from those expressed or implied by such forward-looking statements.  A description of risks and uncertainties relating to Trico Marine Services, Inc. and its industry and other factors, which could affect the Company’s results of operations or financial condition, are included in the Company’s Securities and Exchange Commission filings. Trico undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this report.

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U.S. Renal Care, Inc. Announces Definitive Agreement to Acquire Dialysis Corporation of America (DCAI)

PLANO, Texas and LINTHICUM, Md., April 14 /PRNewswire-FirstCall/ — U.S. Renal Care, Inc. (“USRC”), a privately-held leading provider of outpatient dialysis services, and Dialysis Corporation of America (Nasdaq: DCAI) (“DCA”), a leading provider of outpatient kidney dialysis centers, announced today that they have entered into a definitive merger agreement for USRC to acquire DCA.

Under the terms of the agreement, USRC, through a subsidiary, will commence a tender offer for all of the outstanding common shares of DCA for $11.25 per share in cash, followed by a merger to acquire all remaining outstanding DCA shares at the same cash price paid in the tender offer. The offer price represents a premium of approximately 72 percent over yesterday’s closing stock price. The transaction is valued at approximately $112 million.

“USRC and DCA have a shared vision that is focused on providing outstanding dialysis services to patients with end stage renal disease,” said Chris Brengard, Chairman and Chief Executive Officer of USRC.  “USRC and DCA each have built strong regional operations and this transaction permits us to build a more efficient and stronger national operation. DCA, like USRC, has a commitment to building joint ventures with nephrologists. We are excited about the possibilities going forward with DCA, and believe that our combined operations will result in continued quality improvement for our patients and value for our stakeholders.”

Upon the closing of the transaction, USRC will provide dialysis services to a base of approximately 5,500 patients through 84 outpatient dialysis facilities across nine states, more than 12 home dialysis programs, and 24 dialysis programs within acute and specialty hospital facilities.

Thomas  K. Langbein, Chairman of the Board of DCA, said, “We believe this transaction will be beneficial to both companies’ physicians, patients, and employees.  For shareholders, the transaction provides a compelling opportunity to realize the value DCA has created.”

Stephen Everett, President and CEO of DCA added, “Combining DCA and USRC creates a stronger enterprise while preserving the cultures of the two companies which focus on quality patient care in partnership with top shelf physicians.”

DCA’s Board of Directors unanimously approved the transaction, which is subject to customary closing conditions, including the valid tender of a majority of the total number of shares of common stock of DCA outstanding on a fully-diluted basis. Directors and executive officers of DCA holding approximately 23 percent of DCA’s outstanding common stock have entered into agreements to, among other things, tender their shares into the tender offer. USRC expects to commence the tender offer promptly and expects the transaction to close in May 2010.

USRC’s financial advisor for the transaction is RBC Capital Markets and its legal advisor is Fulbright & Jaworski, L.L.P. Royal Bank of Canada has delivered to USRC a commitment letter providing fully committed debt financing in connection with the transaction. Three of USRC existing equity sponsors – SV Life Sciences, Cressey & Company, and Salix Ventures – are providing additional equity financing to USRC to support the transaction. DCA’s financial advisor for the transaction is Dresner Partners and its legal advisor is Arent Fox LLP.

About U.S. Renal Care, Inc.

Founded in 2000 by an experienced team of healthcare executives, U.S. Renal Care, Inc. works in partnership with nephrologists to develop, acquire, and operate outpatient treatment centers for persons suffering from chronic kidney failure, also known as End Stage Renal Disease. The company provides patients with their choice of a full range of quality in-center, acute or at-home hemodialysis and peritoneal dialysis services. U.S. Renal Care operates 47 dialysis clinics in Texas and Arkansas. For more information on U.S. Renal Care, Inc. please visit www.usrenalcare.com.

About Dialysis Corporation of America

Dialysis Corporation of America owns and operates freestanding kidney hemodialysis centers located in Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, and Virginia, and provides in-hospital dialysis services on a contract basis to certain hospitals located in the those states. The company provides patients with their choice of a full range of quality in-center, acute or at-home hemodialysis services. Other Dialysis Corporation of America press releases, corporate profile, corporate governance materials, quarterly and current reports, and other filings with the Securities and Exchange Commission are available on Dialysis Corporation of America’s website: http://www.dialysiscorporation.com.

Important additional information and where to find it:

This press release is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, shares of DCA.  The tender offer for shares of DCA’s stock described in this press release has not yet been commenced.  Holders of shares of DCA are urged to read the relevant tender offer documents when they become available because they will contain important information that holders of DCA securities should consider before making any decision regarding tendering their securities.  At the time the tender offer is commenced, USRC and its acquisition subsidiary will file tender offer materials with the SEC, and DCA will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the offer.  The tender offer materials (including an Offer to Purchase, a related Letter of Transmittal and certain other offer documents) and the Solicitation/Recommendation Statement, will be made available to all holders of shares of DCA at no expense to them.  The tender offer materials and the Solicitation/Recommendation Statement will be made available for free at the SEC’s website at www.sec.gov.  Free copies of these documents may also be obtained by mailing a request to the information agent for the tender offer, Innisfree M&A Incorporated, 501 Madison Avenue, 20th Floor, New York, New York 10022; or by calling toll free at (888) 750-5834 (shareholders) or collect at (212) 750-5833 (banks and brokers).

Wednesday, April 14th, 2010 Uncategorized Comments Off on U.S. Renal Care, Inc. Announces Definitive Agreement to Acquire Dialysis Corporation of America (DCAI)

Versar (VSR) Awarded Contract Extensions in Iraq Totaling $7.5 Million

SPRINGFIELD, Va.–(BUSINESS WIRE)–Versar, Inc. (NYSE Amex:VSR) announced it was awarded two task order contract extensions totaling $7.5 million by the Gulf Region District of the U.S. Army Corps of Engineers for its personal services contract supporting the reconstruction efforts in Iraq. These task order extensions will allow Versar to provide six months of additional support to the US Army in the fields of Engineering, Project Management, Logistics, and Construction Management. All work under these extensions will be completed by October 5, 2010, contributing approximately $1.2 million in revenue each month during the six month period.

Jeff Wagonhurst, President of Versar, Inc., said, “Versar is gratified by the Army’s continued confidence in the value of our professional services. We pledge to exceed their expectations as we have since our original contract execution in 2006. It is our privilege to support the Coalition forces and the Iraqi people in building a better future.”

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; http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ppsgb.com&esheet=6245924&lan=en_US&anchor=www.ppsgb.com&index=6&md5=4a8e918f2313595ba99f3d5d20591e52; http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.adventenv.com&esheet=6245924&lan=en_US&anchor=www.adventenv.com&index=7&md5=963cee7aa24386668a11e6e635ab6ba6.

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.

Tuesday, April 13th, 2010 Uncategorized Comments Off on Versar (VSR) Awarded Contract Extensions in Iraq Totaling $7.5 Million

GlobalSCAPE (GSB) Hires New Executive Vice President of Sales

SAN ANTONIO–(BUSINESS WIRE)–GlobalSCAPE, Inc. (NYSE Amex: GSB), a leading developer of secure information exchange solutions, has hired William Buie as Executive Vice President of Sales. Mr. Buie succeeds Jeff Gehring who has left the company to pursue other opportunities. Mr. Buie is an accomplished high-tech industry executive with nearly 30 years of sales and marketing management experience. Prior to joining GlobalSCAPE, Mr. Buie was a senior vice president with Fujitsu, a global IT services, hardware and software provider, where he was responsible for alliance, channel, and system integrator sales in North America.

“We are extremely pleased to have Bill join our executive team,” said Jim Morris, president and CEO of GlobalSCAPE. “He is a dynamic and seasoned sales and business development professional. With his experience building and growing successful teams in a wide range of enterprise and consumer environments, Bill will be instrumental in increasing GlobalSCAPE’s global business.”

Prior to Fujitsu, Mr. Buie was the Vice President of Global Strategic Partner Sales at Symantec Corporation where he grew re-sell bookings from $43M in 2004 to $933M in 2008. He also has prior executive experience in direct and channel marketing with IBM. Mr. Buie holds a bachelor of journalism degree from the University of Missouri and completed the Finance for Executives program at the Wharton School of Business.

About GlobalSCAPE

GlobalSCAPE, Inc. (NYSE Amex: GSB), headquartered in San Antonio, TX, is a global provider of managed file transfer (MFT) and wide area file services (WAFS) solutions for securely exchanging critical information over the Internet, within an enterprise, and with business partners. Since the release of CuteFTP in 1996, GlobalSCAPE’s solutions have continued to evolve to meet the business and technology needs of an increasingly interconnected global marketplace. For more information about GlobalSCAPE’s products and services, visit http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.globalscape.com&esheet=6246459&lan=en_US&anchor=www.globalscape.com&index=4&md5=d47a85d89e0657b7e7e7c665d26ff1fc or the Company’s Secure Info Exchange blog.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words “would,” “exceed,” “should,” “anticipates,” “believe,” “steady,” “dramatic,” and variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company’s current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company’s Annual Report on Form 10-K for the 2008 calendar year, filed with the Securities and Exchange Commission on March 31, 2009.

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NeoStem, Inc. (NBS) – New Adult Stem Cell Collection Center in Austin to Open April 15, 2010

NEW YORK, April 12 /PRNewswire-Asia-FirstCall/ — NeoStem, Inc. (NYSE Amex: NBS) (“NeoStem” or the “Company”), an international biopharmaceutical company with operations in the U.S. and China, announced the launch of the newest adult stem cell collection center in its network to open in Austin, TX on April 15, 2010. As announced on February 9, 2010, the Company expanded its collection network into the southwestern region of the U.S. with the addition of the physician group at Westlake Orthopaedics Spine & Sports (“Westlake”) located at 5656 Bees Cave Road, k -200 Austin, Texas. NeoStem remains on track to have ten centers in its collection network by the end of 2010.

NeoStem’s Chairman and CEO, Robin Smith, M.D., will participate in the launch of the new center by speaking about the adult stem cell collection process and discussing the potential benefits of early stem cell collection. “We look forward to a productive relationship with the entire Westlake team. As the first to provide adult stem cell banking services to the healthy general public in the U.S., NeoStem is committed to helping individuals pre- donate their healthy cells for personal therapeutic use,” commented Dr. Smith. “We continue to pursue the development of applications of autologous (one’s own) adult stem cells to help in regenerating and repairing damaged cells in the body. The use of autologous stem cells for applications such as wound healing and bone reconstruction removes concerns about immune rejection and is faster and safer than using alleogenic (someone else’s) cells.”

“We are excited about the grand opening of the stem cell collection center in Westlake and, together with NeoStem, look forward to educating our patients about adult stem collection banking and implications for orthopedic treatment,” said Dr. Scott Spann, the founder of Westlake and one of the initial founders of Westlake Hospital. “We remain committed to providing the best patient care in orthopaedic, spine, and sports medicine care. The new stem cell collection center represents an important choice that our patients will now have in planning for a healthy future.”

About NeoStem, Inc.

NeoStem, Inc. is engaged in the development of stem cell-based therapies and building of a network of adult stem cell collection centers in the U.S. and China that are focused on enabling people to donate and store their own (autologous) stem cells for their personal use in times of future medical need. The Company is also the licensee of various stem cell technologies, including a worldwide exclusive license to VSELTM technology which uses very small embryonic-like stem cells, shown to have several physical characteristics that are generally found in embryonic stem cells, and is pursuing the licensing of other technologies for therapeutic use. NeoStem’s majority-controlled Chinese pharmaceutical operation, Suzhou Erye, manufactures and distributes generic antibiotics in China. For more information, please visit: http://www.neostem.com .

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward looking statements include statements herein with respect to the success of new stem cell collection center, the expansion of the collection network and the development of stem cell therapies, about which no assurances can be given. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the “Risk Factors” described in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2010, as well as other periodic filings made with the Securities and Exchange Commission. The Company’s further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.

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Molecular Insight Pharmaceuticals’ (MIPI) Onalta Phase 2 Data Published in Journal of Clinical Oncology

CAMBRIDGE, MA — (Marketwire) — 04/12/10 — Molecular Insight Pharmaceuticals, Inc. (NASDAQ: MIPI) today announced results from a completed Phase 2 clinical trial of Onalta™ (Yttrium-90 edotreotide) have been published in the Journal of Clinical Oncology (JCO). Results from the Phase 2 clinical trial of 90 patients show that treatment with Onalta improved symptoms associated with metastatic carcinoid tumors.

Patients enrolled in the Phase 2 clinical study suffered from malignant metastatic carcinoid tumors (neuroendocrine tumors of the GI tract and bronchus) and were refractory to conventional treatment with the somatostatin analogue, octreotide. Y-90-edotreotide therapy resulted in objective tumor response or stable disease in 67 (74.4%) of 90 patients with metastatic carcinoid refractory to octreotide therapy. Median progression-free survival and overall survival were 16.3 and 26.9 months, respectively. Furthermore, there appeared to be a correlation with prolongation of the period of progression free survival in those patients who had durable diarrhea improvement (P =.031).

Key improvements in patient symptoms and quality of life related to carcinoid tumors were also noted. Symptoms of patients with carcinoid tumors include severe diarrhea, hot flushes and abdominal pain, among others. Among symptomatic patients, a trend toward improvement for each specified symptom was consistently demonstrated and statistically significant across all symptoms. Quality of life included assessments of anxiety, depression, pain and discomfort, among others. In addition, treatment was well-tolerated and had an acceptable adverse event profile.

David L. Bushnell, Jr., M.D., Professor of Radiology, University of Iowa and Chief, Diagnostic Imaging / Radioisotope Therapy, Iowa City VA Medical Center, led the study. In summarizing the study, he said: “90Y-edotreotide treatment was well-tolerated with an acceptable expected adverse effect profile. It’s clear from this study that symptoms associated with malignant carcinoid tumors improve following this therapy among patients with no treatment alternatives. Furthermore, there was evidence of improved survival in a subpopulation of patients in this study.”

“The patients in this study had incurable, progressive disease refractory to octreotide with severe symptoms which could themselves be life-threatening. In addition to nearly 75% of the patients showing disease stabilization, most tumor associated symptoms showed improvement with that improvement being of a sustained duration,” said Norman LaFrance, M.D., Senior Vice President, Chief Medical Officer of Molecular Insight and an author on the JCO paper. “These findings further support Onalta’s potential to improve outcomes among a refractory, metastatic patient population lacking treatment options.”

The single-arm, multicenter Phase 2 study was conducted in 90 patients at 18 sites in the U.S. and Europe. The primary objective of the study was to evaluate the efficacy of Onalta in relieving symptoms in patients with malignant carcinoid tumors. Quality of life, objective tumor response and other safety and efficacy outcomes were assessed as secondary endpoints. Study treatment consisted of three cycles of 4.4 GBq (120 mCi) 90Y-edotreotide each, once every six weeks.

Nine (10%) of the patients discontinued treatment because of adverse events, five due to GI events. Twelve (13.3%) of the patients experienced adverse events that required a dosage adjustment or interruption of study drug treatment. The majority of adverse events (76 patients; 84.4%) were of a GI nature, with nausea, vomiting and diarrhea most frequently reported. Nausea, vomiting and abdominal pain were typically associated with amino acid infusion concomitant with therapy and these symptoms almost always subsided with cessation of amino acid infusion. Grade 3 to 4 adverse events were reported in 54 (60%) patients with lymphopenia, nausea and vomiting most frequently observed, while 3 (3.3%) patients experienced grade 3 to 4 renal or urinary toxicity of grade 3 oliguria, grade 3 dysuria, and grade 4 renal failure that lasted 6, 42, and 6 days respectively.

The Phase 2 clinical trial results were published in the April 1, 2010 print edition of the American Society of Clinical Oncology’s Journal of Clinical Oncology in a paper titled: 90Y-Edotreotide for Metastatic Carcinoid Refractory to Octreotide. The article is also available online at http://jco.ascopubs.org/cgi/content/abstract/28/10/1652.

About Onalta
Onalta is a novel radiotherapeutic candidate which selectively targets the somatostatin receptor upregulated in metastatic carcinoid and pancreatic neuroendocrine tumors. It has been studied in clinical trials in patients whose symptoms are no longer controlled by conventional somatostatin analogue therapy.

Neuroendocrine tumors are a type of cancer that arises from neuroendocrine cells and can occur in different parts of the body. A somatostatin analogue is a synthetic compound, in this case a peptide, which functions in the body in a manner similar to the hormone somatostatin, which regulates a variety of other metabolic hormonal functions. Onalta binds selectively to the neuroendocrine tumor cells that have somatostatin receptors for the peptide hormone somatostatin. Molecular targeting of these receptors by Onalta to tumor cell surfaces allows the targeted delivery of a lethal dose of radiation to the cancer cells via the delivery and energy deposition (radioactive decay) of yttrium-90.

Molecular Insight licensed the rights to edotreotide (the parent compound of Onalta) from Novartis Pharma AG, which had developed the product through Phase 2 clinical trials, accumulating data from more than 300 patients. In September 2009, the company sub-licensed its Onalta™ brand 90-Y edotreotide radiotherapeutic in certain countries in Europe, the Middle East, North Africa, Russia and Turkey to BioMedica Life Sciences, S.A. The European Medicines Agency has reviewed and accepted Onalta’s Phase 3 clinical trial protocol design and has granted Onalta Orphan Drug Designation. Molecular Insight retains all rights to Onalta in all other markets and territories, including the United States, Japan and Asia. Onalta has also been granted orphan drug status by the U.S. Food and Drug Administration.

About Molecular Insight Pharmaceuticals, Inc.
Molecular Insight Pharmaceuticals is a clinical-stage biopharmaceutical company and pioneer in the emerging field of molecular medicine. The Company is focused on the discovery and development of targeted therapeutic and imaging radiopharmaceuticals for use in oncology. Molecular Insight has five clinical-stage candidates in development. For further information on Molecular Insight Pharmaceuticals, please visit www.molecularinsight.com.

Forward-Looking Statements
Statements in this release that are not strictly historical in nature constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the planned Phase 3 clinical trial of Onalta™ by BioMedica Life Sciences, S.A. as approved by the European Medicines Agency. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results of Molecular Insight to be materially different from historical results or from any results expressed or implied by such forward-looking statements. Such factors include, but are not limited to, risks and uncertainties related to the progress, timing, cost, and results of the Phase 3 clinical trial of Onalta; difficulties or delays in such clinical trial process; difficulties or delays in obtaining regulatory approval for initiating next-phase clinical trials; competition from other pharmaceutical or biotechnology companies in their developments of similar products; and the additional risks discussed in filings with the Securities and Exchange Commission (SEC). The Company’s SEC filings are available through the SEC’s Electronic Data Gathering Analysis and Retrieval system (EDGAR) at http://www.sec.gov/. Press releases for Molecular Insight Pharmaceuticals, Inc. are available on our website: http://www.molecularinsight.com/. All forward-looking statements are qualified in their entirety by this cautionary statement, and Molecular Insight undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.

Tuesday, April 13th, 2010 Uncategorized Comments Off on Molecular Insight Pharmaceuticals’ (MIPI) Onalta Phase 2 Data Published in Journal of Clinical Oncology

Radient Pharmaceuticals (RPC) Monetizing China-Based Jade Pharmaceutical Division

TUSTIN, CA–(Marketwire – 04/12/10) – US-based pharmaceutical company Radient Pharmaceuticals Corporation (RPC) (AMEX:RPCNews) announced today it anticipates prospective purchasers or financiers will complete due diligence for RPC’s China-based subsidiary Jade Pharmaceutical, Inc. (“JPI”) by the end of May 2010.

RPC expects JPI will be contractually positioned to move forward with the completion of a sale or financing by the end of the third quarter 2010. RPC currently owns approximately 98% of JPI, which as part of RPC’s deconsolidation process, is noted as a special asset on RPC’s balance sheet and valued at approximately US$20 million as of September 30, 2009.

According to Douglas MacLellan, Chairman and CEO of Radient Pharmaceuticals Corporation, “We are extremely pleased to move down an orderly path to maximize the monetization of our China-based asset. This is in accordance with our original deconsolidation plan and is in the best interest of the company, our subsidiary and RPC shareholders.”

For additional information on Radient Pharmaceuticals or JPI visit the Company’s corporate website at http://www.Radient-Pharma.com/. For Investor Relations information contact Ms. Kristine Szarkowitz at kszarkowitz@Radient-Pharma.com or 1.206.310.5323.

About Radient Pharmaceuticals:
Headquartered in Tustin, California, Radient Pharmaceuticals Corporation is an integrated pharmaceutical company devoted to the research, development, manufacturing, and marketing of diagnostic, and premium skin care products.

Forward-Looking Statements:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company’s operations, markets, services, products, and prices. With respect to Radient Pharmaceuticals Corporation, except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.

Monday, April 12th, 2010 Uncategorized Comments Off on Radient Pharmaceuticals (RPC) Monetizing China-Based Jade Pharmaceutical Division

Competitive Technologies (CTT) to Hold Medical Conference Featuring Calmare(R) Pain Therapy

FAIRFIELD, Conn., April 12, 2010 (GLOBE NEWSWIRE) — Competitive Technologies, Inc. (NYSE Amex:CTT) announced today that it will hold a conference for the medical community on May 17, 2010, in Boston, Mass. at the Marriott Long Wharf Hotel from 9:00 a.m. to 3:30 p.m., to introduce CTT’s Calmare(R) pain therapy to the medical community. Professor Giuseppe Marineo, MD, DSc., Researcher, Founding President of Delta Research and Development, Tor Vergata University of Rome, is the Italian inventor of the “Scrambler Therapy,” the technology used in the Calmare medical device. Prof. Marineo will be honored by CTT at the conference and he will present the scientific basis for this revolutionary pain treatment method. Throughout the day, several physicians will present patient case studies stemming from their use of this innovative technology to treat various types of chronic pain including severe pain from cancer and chemotherapy-induced peripheral neuropathy (CIPN), failed back surgery, phantom limb syndrome, as well as pain from shingles and a variety of other maladies. Typically, the patients’ pain has been resistant to other treatment methodologies, including powerful narcotic painkillers that have been linked to adverse side effects.

The physicians presenting their patient case studies will include:

  • Perry Rosenthal, MD – Founding President, Vice Chairman and Scientific Director at the Boston Foundation for Sight, and Assistant Clinical Professor of Ophthalmology, Harvard Medical School
  • Salahadin Abdi, MD – Professor and Chief, University of Miami Pain Center, Anesthesiology, Perioperative Medicine & Pain Management
  • Toby Campbell, MD – Assistant Professor of Medicine, Hematology & Oncology, University of Wisconsin, Paul J. Carbone Cancer Center
  • Stephen J. D’Amato, MD, FACEP- Medical Director, Calmar Pain Relief Therapy, Clinical Assistant Professor of Medicine, Boston University School of Medicine, and Medical Staff, Roger Williams Medical Center.

“We are pleased to be able to highlight our Calmare pain therapy medical device to physicians at this upcoming event,” said John B. Nano, CTT’s Chairman, President and CEO. “Having Prof. Marineo discuss his development of this technology will provide a unique perspective for physicians wanting to gain a deeper understanding of how the device functions as well as its safety and efficacy in relieving patients’ pain. We are fortunate that on his first U.S visit from his research facility in Italy he is presenting to members of the medical community.”

With recent media coverage focusing on the negative side effects of morphine and other powerful painkillers, the Calmare device offers physicians an effective alternative for treating high intensity oncologic and neuropathic pain, including pain resistant to opioids and other treatment methodologies. Physicians interested in attending the conference should contact Kim Thompson of Competitive Technologies at 203.331.4817 or http://www.globenewswire.com/newsroom/ctr?d=188451&l=4&a=kthompson%40competitivetech.net&u=mailto%3Akthompson%40competitivetech.net.

For more information about the device visit: http://www.CalmareTT.com/.

About Competitive Technologies, Inc.

Competitive Technologies, established in 1968, provides distribution, patent and technology transfer, sales and licensing services focused on the needs of its customers and matching those requirements with commercially viable product or technology solutions. CTT is a global leader in identifying, developing and commercializing innovative products and technologies in life, electronic, nano, and physical sciences developed by universities, companies and inventors. CTT maximizes the value of intellectual assets for the benefit of its customers, clients and shareholders. Visit CTT’s website: http://www.globenewswire.com/newsroom/ctr?d=188451&l=7&a=www.competitivetech.net&u=http%3A%2F%2Fwww.competitivetech.net.

Statements made about our future expectations are forward-looking statements and subject to risks and uncertainties as described in our most recent Annual Report on Form 10-K for the year ended July 31, 2009, filed with the SEC on October 27, 2009, and other filings with the SEC, and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.

Monday, April 12th, 2010 Uncategorized Comments Off on Competitive Technologies (CTT) to Hold Medical Conference Featuring Calmare(R) Pain Therapy

Palm (PALM) Reportedly Taps Goldman to Find Buyer

Shares of Palm (PALM: 6.04, 0.88, 17.05%) continued their 2010 rollercoaster ride on Monday as the phone maker surged 20% in the wake of a report it has tapped Goldman Sachs and Frank Quattrone to find it a buyer as early as this week.

According to Bloomberg News, the beleaguered creator of the Pre smartphone could soon be sold to Taiwan’s HTC Corp, China’s Lenovo Group or another suitor. The report comes after Palm issued bleak revenue guidance amid tumbling sales last month, leading a number of analysts to warn the company would likely have to be sold.

Palm has hired Goldman (GS: 177.84, -1.33, -0.74%) and Quattrone’s Qatalyst Partners to find it a buyer, Bloomberg reported. A deal would give a company access to Palm’s WebOS software and the sixth-largest North American smartphone company, well behind Apple (AAPL: 242.29, 0.5, 0.21%) and Research in Motion (RIMM: 70.54, 0.57, 0.81%), which makes the BlackBerry.

Palm’s shares have hit extremes in recent weeks. The stock plummeted more than 60% year-to-date in the wake of its negative sales guidance, but then rallied 32% last week on takeover speculation. Monday morning Palm was up 17.9% from Friday’s close, to $6.06.

Aside from Lenovo and HTC, a number of other companies have been rumored to be interested in Palm. According to Bloomberg, Dell (DELL: 15.93, 0.1, 0.63%) looked at Palm but ultimately decided against an offer.

Palm is seen as an early pioneer of the smartphone market it now struggles in. The company created the PalmPilot after it was founded in 1992. Its Palm Pre and Pixi phones mostly sell in the U.S on Sprint Nextel (S: 4.209, 0.169, 4.18%), the No. 3 wireless carrier.

Source: http://www.foxbusiness.com/story/markets/industries/technology/palm-reportedly-appoints-goldman-buyer

Monday, April 12th, 2010 Uncategorized Comments Off on Palm (PALM) Reportedly Taps Goldman to Find Buyer

Ardea Biosciences, Inc. (RDEA) Announces Appointment of Stephen R. Davis as Executive VP and COO

SAN DIEGO, April 12 /PRNewswire-FirstCall/ — Ardea Biosciences, Inc. (Nasdaq:RDEANews) today announced the appointment of Stephen R. Davis as Executive Vice President and Chief Operating Officer.

“We are extremely pleased to welcome Steve to Ardea as our new Chief Operating Officer,” commented Barry D. Quart, PharmD, Ardea’s President and Chief Executive Officer.  “His diverse background, with extensive financial and transactional experience, makes him an ideal addition to the Ardea management team at this transformational time for the Company.”

Prior to joining Ardea, Mr. Davis served as President and Chief Executive Officer of Neurogen Corporation, which was acquired by Ligand Pharmaceuticals in December 2009.  Prior to becoming CEO in February 2008, Mr. Davis served as Neurogen’s Chief Operating Officer beginning in April 2005 and Executive Vice President and Chief Business Officer from September 2001 through April 2005.  Mr. Davis was also a member of the Board of Directors of Neurogen.  Mr. Davis joined Neurogen in 1994 as Vice President of Finance and Chief Financial Officer.  While at Neurogen, Mr. Davis completed numerous collaborations with global pharmaceutical companies.  From 1990 through June 1994, Mr. Davis practiced as a corporate and securities attorney with Milbank, Tweed, Hadley & McCloy LLP in New York City.  Previously, Mr. Davis practiced as a Certified Public Accountant with Arthur Andersen & Co.  Mr. Davis received his BS in Accounting from Southern Nazarene University and his JD from Vanderbilt University.

About Ardea Biosciences, Inc.

Ardea Biosciences, Inc., of San Diego, California, is a biotechnology company focused on the development of small-molecule therapeutics for the treatment of gout, cancer and human immunodeficiency virus (HIV).  RDEA594, our lead product candidate for the treatment of hyperuricemia and gout, is a selective URAT1 transporter inhibitor in Phase 2 clinical development.  Our next-generation URAT1 inhibitor program is currently in preclinical development.  RDEA119, a potent and specific inhibitor of mitogen-activated ERK kinase (MEK) and our lead product candidate for the treatment of cancer, is being developed under a global license agreement with Bayer HealthCare AG.  RDEA119 is currently being evaluated in advanced cancer patients with different tumor types as a single agent in a Phase 1 study as well as in combination with sorafenib (Nexavar®; Bayer HealthCare, Onyx Pharmaceuticals) in a Phase 1/2 study.  RDEA806, our lead product candidate for the treatment of HIV, is a non-nucleoside reverse transcriptase inhibitor (NNRTI) that has successfully completed a Phase 2a study in HIV patients.  RDEA427, a next generation NNRTI, has superior pharmacokinetic properties, and even greater activity against a wide range of drug-resistant viral isolates than RDEA806.  We have evaluated RDEA427 in a human micro-dose pharmacokinetic study.

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.  Such statements include, but are not limited to, statements regarding our plans and goals, the expected properties and benefits of RDEA594, RDEA119, RDEA806 and our other compounds and the timing and results of our preclinical, clinical and other studies.  Risks that contribute to the uncertain nature of the forward-looking statements include risks related to the outcome of preclinical and clinical studies, risks related to regulatory approvals, delays in commencement of preclinical and clinical studies, costs associated with our drug discovery and development programs, and risks related to the outcome of our business development activities.  These and other risks and uncertainties are described more fully in our most recently filed SEC documents, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, under the headings “Risk Factors.”  All forward-looking statements contained in this press release speak only as of the date on which they were made.  We undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Monday, April 12th, 2010 Uncategorized Comments Off on Ardea Biosciences, Inc. (RDEA) Announces Appointment of Stephen R. Davis as Executive VP and COO

Double-Take Software, Inc. (DBTK) Provides Preliminary First Quarter Financial Results

Apr. 12, 2010 (Business Wire) — Double-Take Software, Inc. (NASDAQ: DBTK), today announced preliminary results for the first quarter of 2010. Based on preliminary financial data, the Company now expects first quarter revenue to be in the range of $18.8 million to $18.9 million, compared to its previous guidance of $20.0 million to $21.2 million. The revenue shortfall from guidance is a result of lower than expected license sales. GAAP operating loss is expected to be $(0.6) million to $(0.5) million. Operating income on an adjusted, non-GAAP basis is expected to be $0.6 million to $0.7 million which is in the range of previous guidance of $0.6 million to $1.5 million. The Company expects GAAP net loss per share to be $(0.01) to $(0.02) and adjusted, non-GAAP net income per diluted share to be $0.01 to $0.02 using an estimated effective tax rate of 36%. Previous guidance for adjusted, non-GAAP net income per diluted share was $0.02 to $0.04. During the quarter, the Company used $8.4 million to repurchase approximately 1.0 million shares under its previously announced stock repurchase plan. Average shares outstanding for the quarter was approximately 22.0 million for basic and 23.0 million on fully diluted basis.

Double-Take also announced that it has received unsolicited, non-binding, written conditional indications of interest to acquire the Company at prices above recent trading prices of its shares. The Company’s Board of Directors, in consultation with its financial and legal advisors, is reviewing these indications of interest, and considering other possible strategic transactions. There can be no assurance that any transaction will occur, that any transaction involving a purchase of the Company that may occur would be at or above the prices stated in the indications of interest or as to the timing of any transactions that may occur. Double-Take does not expect to make further public comments regarding these matters unless and until it enters into a definitive agreement with respect to a transaction or determines that none will be pursued.

Dean Goodermote, Double-Take’s Chairman and CEO noted that “the quarter finished weaker than we expected. Software license sales were up over last year, but they did not rebound to the extent that we anticipated. Renewal rates were strong, pipelines are good and controlled spending kept our margins at or near the low end of our guidance. We plan to reduce our hiring expansion plans until we experience growth at a faster rate. In addition, although we are evaluating expressions of interest in the Company, we continue to plan for a strong independent future,” concluded Goodermote.

The Company will release final results for the first quarter on Tuesday, May 4, 2010 and will host its regularly scheduled conference call to discuss its final financial results on Tuesday, May 4, 2010 at 4:30 p.m. EDT. The public is invited to listen to a live web cast of the conference call on the Investor Relations section of the Company’s website at www.doubletake.com. A replay of the web cast will be available on the Investor Relations section of the Company’s website at www.doubletake.com approximately two hours after the conclusion of the call and will remain available for 90 calendar days. An audio replay of the conference call will also be available approximately two hours after the conclusion of the call. The audio replay will be available until Sunday, May 9, 2010 at 7:30 p.m. EDT and can be accessed by dialing 888-203-1112 (U.S. and Canada) or 719-457-0820 (international) and entering replay access code 3717147.

The Company calculates adjusted non-GAAP operating income and income per share by excluding the effects of non-cash stock based compensation from Operating Expenses.

See “Non-GAAP Financial Measures” and “Important Note to Investors” below

Non-GAAP Financial Measures

Double-Take Software, Inc. has provided in this press release adjusted non-GAAP operating income and income per share financial information that have not been prepared in accordance with generally accepted accounting principles, or GAAP. Double-Take Software, Inc. uses these non-GAAP financial measures internally in analyzing its financial results and believes it is useful to investors as a supplement to, but not as a substitute for, GAAP measures in evaluating the Company’s operational performance. Double-Take Software, Inc. believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating operating results and trends, and in comparing its financial results with other companies in Double-Take Software, Inc.’s industry, many of which present similar non-GAAP financial measures to investors. The adjusted non-GAAP operating income presented above excludes non-cash stock-based compensation charges of approximately $1.2 million from our results. The adjusted non-GAAP income per share presented above excludes non-cash stock-based compensation charges of approximately $0.05 per share from our results and exclude the effect of these charges in the related diluted share count.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures.

About Double-Take® Software

Headquartered in Southborough, Massachusetts, Double-Take® Software (Nasdaq: DBTK) is a leading provider of affordable software for recoverability, including continuous data replication, application availability and system state protection. Double-Take Software products and services enable customers to protect and recover business-critical data and applications such as Microsoft Exchange, SQL, and SharePoint in both physical and virtual environments. With its unparalleled partner programs, technical support, and professional services, Double-Take Software is the solution of choice for more than nineteen thousand customers worldwide, from SMEs to the Fortune 500. Information about Double-Take Software’s products and services can be found at www.doubletake.com.

Important Note to Investors

This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases that say Double-Take or its management “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, statements in this release that describe the Company’s business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All forward-looking statements are inherently speculative, and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated in forward-looking statements. These risks and uncertainties include those set forth from time to time in our filings with the Securities and Exchange Commission. We are under no obligation, and do not undertake any duty, to update these forward looking statements at any time.

Monday, April 12th, 2010 Uncategorized Comments Off on Double-Take Software, Inc. (DBTK) Provides Preliminary First Quarter Financial Results

Mexco Energy Corp. (MXC) Adds Member to Board of Directors

MIDLAND, Texas, April 9 /PRNewswire-FirstCall/ — Mexco Energy Corporation (Amex:MXC.aNews) (the “Company”) today reported the Board of Directors appointed Paul Garry Hines to the company’s Board of Directors and Chairman of the Audit Committee effective April 1, 2010, increasing the total Board count to six members.  Mr. Hines is expected to stand for election at the 2010 Annual Meeting of Shareholders on September 14, 2010 to serve for a term of one year.

“The addition of Paul to the Mexco Board will strengthen our Board composition by adding expertise in finance and business strategy,” stated Nicholas C. Taylor, President and CEO of Mexco.  “Paul is a seasoned executive whose activities have concentrated on advising on business matters related to strategy, operations and finance as well as growth, change and improvement.”

Paul Hines served with E. F. Hutton and Company, Inc. from 1970 through 1986 in a variety of positions including Vice President of Corporate Development, Executive Vice President and member of the Board of Directors of the broker dealer.

Within the broker dealer, principal responsibilities were Corporate Development, internal consulting, and Control.  In the early 1980’s, Hines established a Treasury function within the Hutton Group.  Prior to establishing that function, all cash flowed through operations, as it did in most broker dealers.

Hines served as Chief Financial Officer for William E. Simon and Sons from 1987 to 1989.  From 1990 to 2000, he was involved in venture capital and as an independent consultant.  He was a member of the Board of Directors of investment bank and broker, Ryan Beck and Company.

From 2000 to the present, he has served in a number of capacities with various charitable organizations. He is a contributor to several publications including Controllers Handbook (Dow Jones Irwin, 1978), Chief Financial Officers Handbook (Dow Jones Irwin, 1986) and Financial Services Handbook (Wiley, 1987).

Mexco Energy Corporation owns oil and gas properties in ten states, with the majority of its activity centered in West Texas.  The Company continues to focus its efforts on accumulating oil and natural gas reserves, through exploration and development as well as acquisition of royalties with significant development potential.

In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, Mexco Energy Corporation cautions that statements in this press release which are forward-looking and which provide other than historical information involve risks and uncertainties that may impact the Company’s actual results of operations. These risks include, but are not limited to, production variance from expectations, volatility of oil and gas prices, the need to develop and replace reserves, exploration risks, uncertainties about estimates of reserves, competition, government regulation, and mechanical and other inherit risks associated with oil and gas production.  A discussion of these and other factors, including risks and uncertainties, is set forth in the Company’s Form 10-K for the fiscal year ended March 31, 2009.  Mexco Energy Corporation disclaims any intention or obligation to revise any forward-looking statements.

Friday, April 9th, 2010 Uncategorized Comments Off on Mexco Energy Corp. (MXC) Adds Member to Board of Directors

Lihua International (LIWA) Announces Public Offering of 3,726,708 Common Shares

DANYANG, China, April 8 /PRNewswire-Asia/ — Lihua International, Inc., (Nasdaq: LIWA) (“Lihua” or the “Company”), a leading Chinese developer, designer, manufacturer, marketer and distributor of low cost, high quality alternatives to pure copper superfine and magnet wire, as well as copper rod products, today announced that it is offering 3,726,708 shares of its common stock. In connection with this offering, the Company has granted the underwriters a 45-day option to purchase up to 559,006 shares of common stock to cover over-allotments, if any.

The Company intends to use the majority of the proceeds from this offering for the construction of a new smelting facility, which is expected to accelerate the production of refined copper products. Construction of this new facility is expected to begin in the fourth quarter of this year. Any remaining proceeds will be used for general working capital purposes.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM), is acting as sole book running manager, and, Chardan Capital Markets, LLC and Brean Murray, Carret & Co., LLC, are co-managers for the offering.

The sale is being made under an effective registration statement previously filed with and declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on March 12, 2010. A prospectus supplement related to the offering was filed with the Securities and Exchange Commission. A copy of the preliminary prospectus relating to the offering may be obtained by visiting EDGAR on the SEC Website at http://www.sec.gov or upon request from Rodman & Renshaw, LLC, 1251 Avenue of the Americas, New York, NY 10020, 212-430-1710 or email: info@rodm.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Lihua International, Inc.

Lihua International, through its two wholly-owned subsidiaries, Lihua Electron and Lihua Copper, is a leading value-added manufacturer of copper replacement products for China’s rapidly growing copper wire and copper replacement product market. Lihua is one of the first vertically integrated companies in China to develop, design, manufacture, market and distribute lower cost, high quality alternatives to pure copper magnet wire and pure copper alternative products. Lihua’s products include copper-clad aluminum wire (“CCA”) and pure copper products including copper wire and copper rod, which are produced from recycled scrap copper. Lihua’s products are sold in China either directly to manufacturers or through distributors in the wire and cable industries and manufacturers in the consumer electronics, white goods, automotive, utility, telecommunications and specialty cable industries. Lihua’s corporate and manufacturing headquarters are located in the heart of China’s copper industry in Danyang, Jiangsu Province. For more information, visit: http://www.lihuaintl.com .

To be added to the Company’s email distribution for future news releases, please send your request to lihua@tpg-ir.com.

Safe Harbor Statement

This press release contains certain statements that may be deemed to be “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. All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, including, without limitation, statements about its business or growth strategy, general industry conditions including availability of copper or recycled scrap copper, future operating results of the Company, capital expenditures, expansion and growth opportunities, bank borrowings, financing activities and other such matters, are forward-looking statements. Although the Company believes that its expectations stated in this press release are based on reasonable assumptions, actual results may differ from those projected in the forward-looking statements.

    For more information, please contact:

    Lihua International, Inc.
     Daphne Huang
     EVP of Corporate Finance and Director of Investor Relations
     Tel:   +1-516-717-9939
     Email: Daphne_huang@lihuaintl.com

    or

    The Piacente Group, Inc.
     Investor Relations
     Brandi Floberg or Lee Roth
     Tel:   +1-212-481-2050
     Email: lihua@tpg-ir.com
Friday, April 9th, 2010 Uncategorized Comments Off on Lihua International (LIWA) Announces Public Offering of 3,726,708 Common Shares

Skymark Research Initiates Independent Research Coverage on Cost Plus, Inc. (CPWM)

CALGARY, Alberta, April 9, 2010 (GLOBE NEWSWIRE) — Skymark Research, a leading provider of small- and micro-cap independent investment research, today initiated coverage on Cost Plus, Inc. (Nasdaq:CPWM).

Skymark Research is currently offering a complimentary trial subscription. To view our research go to: www.skymarkresearch.com

About SMR:

Skymark Research is a leading provider of independent investment research in North America. Our services include research analysis on the small- and micro-cap markets, real-time news and financial data, market commentary and the SMR newsletter. Skymark Research’s staff of small-cap investment professionals is dedicated to providing the small market’s investment community with the tools and avenues necessary to make the important investment decisions. To view our research reports on a complimentary trial basis and take advantage of our other services, go to www.skymarkresearch.com and click on the complimentary trial subscription button on our home page, or go directly to our registration page at www.skymarkresearch.com/signup.php.

The Skymark Research logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6683

About Cost Plus, Inc. (Nasdaq:CPWM):

Cost Plus, Inc. (Nasdaq:CPWM) is a specialty retailer of casual home furnishings and entertaining products in the United States.

SMR Disclosure:

Skymarkresearch.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. Skymark Research has not been compensated by any of the above mentioned companies. Please read our report and visit our Web site, www.skymarkresearch.com, for complete risks and disclosures.

CONTACT:  Skymark Research
          Dylan Boyle
          480-626-1911
          info@skymarkresearch.com
Friday, April 9th, 2010 Uncategorized Comments Off on Skymark Research Initiates Independent Research Coverage on Cost Plus, Inc. (CPWM)

Atlas Energy, Inc. (ATLS) Announces $1.7 Billion Marcellus Shale Joint Venture

Apr. 9, 2010 (Business Wire) — Atlas Energy, Inc. (NASDAQ: ATLS) (“Atlas” or “the Company”) announces today its entry into a joint venture transaction with a wholly owned affiliate of Reliance Industries Limited (“Reliance”), the largest private sector company in India and a global energy leader, pursuant to which Atlas will transfer an interest in its Marcellus Shale position equal to 120,000 net acres in a transaction valued at $1.7 billion. Reliance will pay approximately $340 million in cash upon closing and an additional $1.36 billion in the form of a drilling carry. Atlas will serve as the development operator for the joint venture. Reliance will have the option to operate in certain project areas in the coming years outside of Atlas’ core operating areas of Fayette, Greene, Washington, and Westmoreland Counties in southwestern Pennsylvania.

Pursuant to the agreement, Reliance will acquire a 40% undivided interest in approximately 300,000 net acres (120,000 net to Reliance) of undeveloped leasehold held by Atlas, and Atlas will retain a 60% undivided interest in the acreage. In addition to funding its own 40% of drilling obligations, Reliance has agreed to fund 75% of Atlas’ respective portion of drilling and completion costs until the $1.36 billion drilling carry is fully utilized. Atlas has 5-1/2 years to utilize the drilling carry, subject to a two-year extension under certain conditions. Atlas and Reliance have agreed upon a five-year development plan that calls for the drilling of 45 horizontal Marcellus Shale wells for the joint venture during the remainder of 2010, increasing to 108 wells in 2011, 178 wells in 2012, and 300 wells in 2013 and 2014.

Atlas will act as the sole leasing agent for the joint venture in the area of mutual interest (“AMI”). In the near future, Atlas and Reliance expect to considerably grow the joint venture’s Marcellus Shale leasehold position within the AMI. Reliance will have the option to acquire a 40% share of such new acreage under terms comparable to those agreed to by Atlas, with each party paying its proportionate share of acquisition costs. In addition, if Atlas decides to sell all or part of the 280,000 additional Appalachian acres currently controlled by it, but excluded from the joint venture and not included in the AMI, Atlas has granted Reliance a right to purchase such acreage at a price of $8,000 per acre. Reliance also receives a right of first offer with respect to potential future sales of this acreage by Atlas at lower prices. This acreage is located predominantly in Mercer, Crawford, and other Pennsylvania counties not currently included in Atlas’ core Marcellus area of southwestern Pennsylvania.

“We are excited by this opportunity to partner with Reliance, one of the world’s largest vertically integrated energy companies, and one that has demonstrated exceptional capability in all aspects of the energy business. We believe that this joint venture will greatly increase the value of Atlas’ business,” commented Edward E. Cohen, Chairman and Chief Executive Officer of Atlas Energy. “This transaction will enable us to accelerate sharply our development of the Marcellus while further reducing our already low finding and development costs and our capital structure will immediately benefit from reduced leverage and enhanced liquidity. As a result of this joint venture, we anticipate creating a significant number of new, well-paying Pennsylvania jobs. Pennsylvania will also benefit from our strong commitment to the highest environmental and safety standards.”

Reliance Industries Limited, an India-based industrial enterprise, is one of the largest refiners and petrochemical producers in the world. Its recent market capitalization was over $78 billion and Reliance currently produces almost 3 Bcfe per day of oil & gas production from their E&P operations.

The purchase and sale is subject to certain closing conditions, including the consent of participating lenders under Atlas’ senior secured credit facility. The transaction is expected to close in April 2010.

Jefferies & Company, Inc. acted as lead financial advisor and J.P. Morgan Securities, Inc. acted as financial advisor to Atlas Energy on the joint venture transaction. Jones Day, Ledgewood and Wachtell, Lipton, Rosen & Katz acted as legal counsel to Atlas Energy.

* * *

Interested parties are invited to access the live webcast of an investor call with Atlas Energy’s management regarding the joint venture transaction on Monday, April 12, 2010 at 9:00 am ET by going to the Investor Relations section of Atlas Energy’s website at www.atlasenergy.com. For those unavailable to listen to the live broadcast, the replay of the webcast will be available following the live call on the Atlas Energy website and telephonically beginning at 11:00 am ET on April 12, 2010 by dialing 888-286-8010, passcode: 93641727.

Atlas Energy, Inc. is one of the largest independent natural gas producers in the Appalachia and Michigan Basins and a leading producer in the Marcellus Shale in Pennsylvania. Atlas Energy, Inc. is also the country’s largest sponsor and manager of tax-advantaged energy investment partnerships. Atlas Energy, Inc. also owns 1.1 million common units in Atlas Pipeline Partners, L.P. (NYSE: APL) and a 64% interest in Atlas Pipeline Holdings, L.P. (NYSE: AHD), a limited partnership which owns the general partner interest of APL. Atlas Pipeline Partners, L.P. is active in the gathering and processing segments of the midstream natural gas industry. In the Mid-Continent region in Oklahoma and Texas, APL owns and operates eight active gas processing plants and a treating facility, as well as approximately 10,300 miles of active intrastate gas gathering pipeline. In Appalachia, APL is a 49% joint venture partner with The Williams Companies in Laurel Mountain Midstream, LLC. For more information, please visit our website at www.atlasenergy.com, or contact Investor Relations at InvestorRelations@atlasenergy.com.

Cautionary Note Regarding Forward-Looking Statements

This document contains forward-looking statements that involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. Atlas Energy, Inc. cautions readers that any forward-looking information is not a guarantee of future performance. Such forward-looking statements include, but are not limited to, statements about future financial and operating results, resource potential, the Company’s plans, objectives, expectations and intentions and other statements that are not historical facts. Risks, assumptions and uncertainties that could cause actual results to materially differ from the forward-looking statements include, but are not limited to, those associated with general economic and business conditions; changes in commodity prices; changes in the costs and results of drilling operations; uncertainties about estimates of reserves and resource potential; inability to obtain capital needed for operations; the Company’s level of indebtedness; changes in government environmental policies and other environmental risks; the availability of drilling equipment and the timing of production; tax consequences of business transactions; and other risks, assumptions and uncertainties detailed from time to time in the Company’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”). Forward-looking statements speak only as of the date hereof, and the Company assumes no obligation to update such statements, except as may be required by applicable law.

Friday, April 9th, 2010 Uncategorized Comments Off on Atlas Energy, Inc. (ATLS) Announces $1.7 Billion Marcellus Shale Joint Venture

Casey’s General Stores (CASY) Board Unanimously Rejects Unsolicited Proposal

Apr. 9, 2010 (Business Wire) — Casey’s General Stores, Inc. (“Casey’s”) (NASDAQ: CASY) today announced that its Board of Directors reviewed, with the assistance of financial and legal advisors, an unsolicited proposal received from Alimentation Couche-Tard Inc. (“Couche-Tard”) (TSX: ATD.A, ATD.B) on March 9, 2010 to acquire Casey’s for $36.00 per share in cash. The Board unanimously determined that the proposal is not in the best interests of the corporation and informed Couche-Tard on March 29, 2010 that it had rejected the proposal. Casey’s sent the following letter to Couche-Tard in response to Couche-Tard’s public letter today.

Alain Bouchard

President and Chief Executive Officer

Alimentation Couche-Tard Inc.

1600, St-Martin Blvd. East

Tower B, Suite 200

Laval (Quebec) H7G 4S7

Dear Mr. Bouchard:

We are very disappointed that you have decided to launch a hostile public campaign regarding your unsolicited proposal to acquire Casey’s for $36.00 per share in cash. As we previously informed you, our Board of Directors takes its fiduciary duties very seriously and unanimously determined to reject your proposal after a thorough, thoughtful evaluation of it in consultation with our financial and legal advisors. Your proposal significantly undervalues Casey’s and is not in the best interests of the corporation. We are very excited about the many opportunities ahead to continue growing our business and deliver superior value to shareholders.

Couche-Tard’s Opportunistic Proposal Is Attempting to Capture the Significant Current and Long-Term Value That Rightly Belongs to Casey’s Shareholders

As you said in your note to me, we have a great brand and “a recipe that works.” We couldn’t agree more. Casey’s is widely considered a best-in-class operator and consistently maintains industry-leading margins. We have important strategic growth initiatives underway that we expect will contribute meaningfully to our top and bottom lines and increase shareholder value in the near and long-term. Given our consistent outperformance among convenience store operators and our ongoing growth initiatives, along with the fact we own virtually all of our real estate, your proposal vastly undervalues Casey’s and our future prospects.

Building on Strong Track Record of Execution and Delivering Value to Shareholders. We are continuing to build on our exceptional track record of performance. We have had positive inside same-store sales growth for 24 consecutive quarters, based in part on the strength of our proprietary prepared food program, and this is a trend we expect to continue. We have the highest inside sales margins in the industry, which have enabled us to achieve double-digit annual EPS growth. Additionally, we have increased our dividend at a compounded annual growth rate of approximately 18% over the past five years.

New-Store Design Rollout and Prepared Food Price Increases Underway. We are in the process of rolling out our new store design that includes an increased cooler capacity, expanded coffee and fountain offerings, and a made-to-order sub-sandwich program. To-date we have incorporated the features of the new store design in 85 of our approximate 1,500 stores, and we are very encouraged by the initial results. We expect these stores to deliver a higher average cash flow and return than our chain-wide average. In addition, the Company implemented price increases on certain products within our prepared food program on March 1, 2010. We expect the price increases will expand margins and boost total prepared food same-store sales approximately 3-4%, in addition to the anticipated positive unit movement.

Expanding Footprint Organically and Through Acquisitions. We are continuing to focus on utilizing our strong balance sheet, which includes approximately $153 million in cash, to expand our footprint through new store openings and strategic acquisitions. Our disciplined approach to acquisitions has served us well, and we will continue to open stores in locations where we can achieve the maximum return on our investment. We also are in the midst of a significant store remodel and replacement initiative that will grow the business by incorporating the features of our new store design mentioned above into our existing store base. Thanks to our exceptional infrastructure, including our distribution network, we have the capacity to support the expansion plans. We expect to update the market on our specific store growth expectations for the next fiscal year during our fourth quarter earnings announcement.

Couche-Tard Is Trying to Acquire U.S. Companies on the Cheap — Casey’s Is Well Positioned to Excel As Economy Recovers

We believe the timing of your proposal is very opportunistic given the impact of the recession and recent severe weather within our marketing territory. Casey’s has navigated the downturn successfully and is extremely well positioned to benefit as the economic recovery continues.

Couche-Tard is Trying to Buy U.S. Companies on the Cheap. In public statements, Couche-Tard has been clear that it believes that U.S. convenience store operators are currently undervalued. As your CFO said: “It’s just good for the M&A environment. It’s exactly what we did not have in the past two years, that didn’t allow us to be able to close good deals.” (National Post, March 10, 2010). The 14% premium of your proposal to our closing stock price yesterday, April 8, 2010, underscores that you are attempting to acquire U.S. companies on the cheap. We agree with you that the U.S. convenience store operators are currently undervalued; however, we will not hand over to you the significant long-term value of Casey’s that rightly belongs to our shareholders.

Casey’s is Well-Positioned to Benefit from the Global Economic Recovery. As economic conditions improve and convenience stores begin to participate more in the current upswing, we believe that our strong operations, ongoing strategic initiatives, and loyal repeat customer base will enable us to accelerate same store sales growth and overall profitability.

We Are Focused on the Best Interests of Our Shareholders, Employees and the Communities We Serve

Casey’s is in a position of financial and operational strength, which gives us the flexibility to execute a wide variety of strategic initiatives. Our Board of Directors and management team are very enthusiastic about our growth plans and confident in our ability to deliver superior value to shareholders. We are also committed to serving the best interests of our other important constituencies, including our employees and the communities in which we operate, which have been and will continue to be a critical part of our success.

Sincerely,

Robert J. Myers

President and Chief Executive Officer

Casey’s General Stores, Inc.

Goldman, Sachs & Co. is acting as financial advisor to Casey’s, and Cravath, Swaine & Moore LLP and Ahlers & Cooney, PC are providing legal advice.

Forward-Looking Statements

This communication contains various “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. Forward-looking statements represent our expectations or beliefs concerning future events that may not prove to be accurate. The words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project” and similar expressions are used to identify forward-looking statements. The forward-looking statements contained herein include statements regarding our future sales, operating margins and cash flow, the continuation of historical trends and our ability to open new stores, make strategic acquisitions, complete our store remodel and replacement initiative and the roll-out of our new store design, maintain or increase pricing and otherwise execute our strategic plan. We caution you that these statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements, including the risk that our cash balances and cash generated from operations and financing activities will not be sufficient for our future liquidity and capital resource needs, competition in the industry in which we operate, changes in the price or supply of gasoline, tax increases or other changes in the price of or demand for tobacco products, potential liabilities and expenditures related to compliance with environmental and other laws and regulations, the seasonality of demand patterns, weather conditions, future actions by Couche-Tard in connection with its unsolicited proposal to acquire Casey’s, the risk that disruptions or uncertainty from Couche-Tard’s unsolicited proposal will divert management’s time and harm Casey’s relationships with our customers, employees and suppliers and the other risks and uncertainties included from time to time in our filings with the SEC. We further caution you that other factors we have not identified may in the future prove to be important in affecting our business and results of operations. We ask you not to place undue reliance on any forward-looking statements because they speak only of our views as of the statement dates. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Friday, April 9th, 2010 Uncategorized Comments Off on Casey’s General Stores (CASY) Board Unanimously Rejects Unsolicited Proposal

Tandy Leather Factory, Inc. (TLF) Reports March 2010 Sales Up 17% over March 2009

Press Release Source: Tandy Leather Factory, Inc. On Thursday April 8, 2010, 8:55 am EDT

FORT WORTH, Texas–(BUSINESS WIRE)–Tandy Leather Factory, Inc. (AMEX: TLFNews) reported today that sales for the month of March were $5.4 million, up 17% from that of March 2009. Year to date sales are up 9% to $14.6 million in the current year compared to $13.4 million last year.

Retail Leathercraft’s sales rose 22% to $2.8 million compared to March 2009 sales of $2.3 million. The 74 comparable stores’ sales were up 20% for the month compared to the same period last year. The two stores opened since March 2009 added March sales of $52,000. Year-to-date sales for Retail Leathercraft are $7.6 million this year, a 15% increase over sales of $6.6 million for the same period of 2009. For the year, the 74 comparable stores’ sales were up 14% compared to sales reported for the same period in 2009.

Wholesale Leathercraft posted sales of $2.4 million for March, up 12% from March 2009 sales of $2.1 million. Within the Wholesale Leathercraft division, the wholesale stores’ sales were up 11% for the month while the National Account group’s sales were up 14% against March 2009. For the year to date, Wholesale Leathercraft sales are $6.6 million compared to $6.3 million in 2009, up 5%. As of the end of March, the wholesale stores’ sales were up 7% compared to the same period last year while the National Account group’s sales are down 8%.

International Leathercraft’s sales rose 59% to $153,000 in the current month compared to March 2009 sales of $96,000. Year-to-date sales are $381,000 this year, a 30% increase over sales of $293,000 for the same period of 2009. International Leathercraft consists of one store located in the UK.

Chief Executive Officer and President, Jon Thompson, commented, “Our sales results are definitely headed in the right direction so far this year with each month building on the month before. We have said numerous times that creating new customers and servicing existing ones when business is down will pay off eventually. I am pleased to see those efforts on the part of store personnel over the last year or so paying off now with great sales results.”

Shannon L. Greene, Chief Financial Officer, added, “Our first quarter sales have been very strong, and I expect we will see the trend continue into the second quarter as we are working against softer comps from the first half of 2009. The real test will be the last half of the year as the comps get tougher. We will do everything we can to carry the current sales momentum into the latter part of the year but only time will tell if we are successful in that endeavor.”

Tandy Leather Factory, Inc., (http://www.tandyleatherfactory.com), headquartered in Fort Worth, Texas, is a specialty retailer and wholesale distributor of a broad product line including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company distributes its products through its 29 Leather Factory stores, located in 19 states and 3 Canadian provinces, 76 Tandy Leather retail stores, located in 36 states and 6 Canadian provinces, one combination wholesale/retail store located in the United Kingdom, and Mid-Continent Leather Sales, one store located in Oklahoma. Its common stock trades on the NYSE Amex with the symbol “TLF”. To be included on Tandy Leather Factory’s email distribution list, go to http://www.b2i.us/irpass.asp?BzID=1625&to=ea&s=0.

This news release may contain statements regarding future events, occurrences, circumstances, activities, performance, outcomes and results that are considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Actual results and events may differ from those projected as a result of certain risks and uncertainties. These risks and uncertainties include but are not limited to: changes in general economic conditions, negative trends in general consumer-spending levels, failure to realize the anticipated benefits of opening retail stores; availability of hides and leathers and resultant price fluctuations; change in customer preferences for our product, and other factors disclosed in our filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Thursday, April 8th, 2010 Uncategorized Comments Off on Tandy Leather Factory, Inc. (TLF) Reports March 2010 Sales Up 17% over March 2009

Inovio Biomedical (INO) Completes Enrollment of Cervical Cancer Therapeutic Vaccine Study

Press Release Source: Inovio Biomedical Corporation On Thursday April 8, 2010, 6:00 am EDT

BLUE BELL, Pa.–(BUSINESS WIRE)–Inovio Biomedical Corporation (NYSE Amex: INO), a leader in DNA vaccine design, development and delivery, announced today that the company has completed enrollment of all subjects for its therapeutic cervical cancer vaccine (VGX-3100) phase I trial. VGX-3100 is a DNA vaccine targeting the E6 and E7 proteins of human papillomavirus (HPV) types 16 and 18, and is delivered via in vivo electroporation.

This dose escalation study was designed to test the safety and immunogenicity of VGX-3100 in women with a previous history of cervical intraepithelial neoplasia (CIN) 2/3, a precursor lesion prior to the development of cancer. The trial enrolled patients in three cohorts of six subjects each with DNA vaccine doses at 0.6 mg (0.3 mg for each of two DNA plasmids), 2.0 mg, and 6.0 mg. The immunization regimen consists of each subject receiving the respective dose at day 0, month 1 and month 3. The vaccine is delivered using Inovio’s proprietary CELLECTRA® intramuscular electroporation delivery device.

All twelve patients from the first two dose cohorts have been evaluated for safety and immune responses. The vaccine has been well tolerated with an acceptable safety profile in all subjects tested. In general, reported adverse events and injection site reactions were mild to moderate and required no treatment.

The interim immunological analysis of blood samples collected before and after vaccination indicated the induction of antigen-specific immune responses against the target proteins produced by the vaccine. Antigen-specific cytotoxic T-lymphocyte (CTL) responses were observed against all four antigens (E6 and E7 proteins for HPV types 16 and 18).

In the first two cohorts, 6 of 12 vaccinated subjects (50%) developed significant CTL responses, with average CTL responses increasing in a dose-related fashion. Generation of tumor-specific T-cell responses is believed to be an important characteristic of a cancer therapeutic vaccine.

Inovio also tested the samples for antibody responses against the target antigens and observed strong antibody responses in 10 of 12 subjects (83%). Antibodies were generated against all four antigens, as tested by the enzyme-linked immunosorbent assay (ELISA). Moreover, the level of antibody responses in the second, mid-dose cohort was on average 5 – 10 fold higher than that observed in the lowest-dose cohort. The high antibody titers achieved in this study have not previously been observed in human clinical trials of other DNA immunogens.

Specific antibody responses to tumor antigens can function as an important surrogate potency marker for determining the immunogenicity of a vaccine, i.e. the ability of a vaccine to induce an immune response. Furthermore, Inovio believes these results further validate the usefulness of its DNA vaccine platform against infectious disease targets, where generation of antibodies has been shown to be protective.

“We are pleased to report the completion of enrollment for the VGX-3100 study. We have been working diligently to progress this program forward. The interim analyses of the vaccinated subjects from the first two cohorts indicate that our vaccine is highly immunogenic, generating antigen-specific T-cell and antibody responses that are amongst the highest reported from any previous human studies of DNA vaccines,” stated Dr. J. Joseph Kim, President and CEO.

“While VGX-3100 is a potentially important product against cervical cancer, we believe a successful completion of this study will mark an important event for our field as a whole and a strong valuation enhancing event for our company,” Dr. Kim added.

Inovio expects complete immunogenicity and safety data to be reported in early Q1 2011.

About HPV, Cervical Cancer and Inovio’s Therapeutic DNA Vaccine

Human papillomavirus (HPV) is the causative agent responsible for most cases of cervical cancer. HPV types 16 and 18 are responsible for about 70% of cervical cancer incidences. Globally, over 253,500 women die of cervical cancer each year.

Preventive vaccines such as GARDASIL® and CERVARIX® are playing a role in limiting infection of HPV. However, the huge number of patients already infected with HPV cannot be addressed by preventive vaccines and there is no viable therapeutic vaccine or drug to fight HPV and cervical cancer.

Inovio’s VGX-3100 is designed to express the E6 and E7 genes common to HPV types 16 and 18 and which are present in both pre-cancerous and cancerous cells transformed by these HPV types. The goal is to stimulate the body’s immune system to mount a T-cell response strong enough to cause the rejection of these unwanted cells from the body.

About Inovio Biomedical Corporation

Inovio Biomedical is focused on the design, development, and delivery of a new generation of vaccines, called DNA vaccines, to prevent and treat cancers and infectious diseases. The company’s SynCon™ technology enables the design of “universal” vaccines capable of protecting against multiple – including newly emergent, unknown – strains of pathogens such as influenza. Inovio’s proprietary electroporation-based DNA vaccine delivery technology has been shown by initial human data to safely and significantly increase gene expression and immune responses. Inovio’s clinical programs include HPV/cervical cancer (therapeutic), avian flu, and HIV vaccines. Inovio is developing its universal and avian influenza vaccines in collaboration with scientists from the University of Pennsylvania, the National Microbiology Laboratory of the Public Health Agency of Canada, and the NIH’s Vaccine Research Center. Other partners and collaborators include Merck, Tripep, University of Southampton, National Cancer Institute, and HIV Vaccines Trial Network. More information is available at http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.inovio.com&esheet=6242051&lan=en_US&anchor=www.inovio.com&index=1&md5=06e408df42119e721c13429ed256c802.

This press release contains, in addition to historical information, forward-looking statements. Such statements are based on management’s current estimates and expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Inovio is providing this information as of the date of this press release, and expressly disclaims any duty to update information contained in this press release.

Forward-looking statements in this press release include, without limitation, express and implied statements relating to Inovio’s business, plans to develop electroporation-based drug and gene delivery technologies and DNA vaccines and pre-clinical and clinical studies. Actual events or results may differ from the expectations set forth herein as a result of a number of risks, uncertainties and other factors, including but not limited to: Inovio has a history of losses; all of Inovio’s potential human products are in research and development phases; no revenues have been generated from the sale of any such products, nor are any such revenues expected for at least the next several years; Inovio’s product candidates will require significant additional research and development efforts, including extensive preclinical and clinical testing; uncertainties inherent in clinical trials and product development programs, including but not limited to the fact that pre-clinical and clinical results may not be indicative of results achievable in other trials or for other indications, that results from one study may not necessarily be reflected or supported by the results of other similar studies, that results from an animal study may not be indicative of results achievable in human studies, that clinical testing is expensive and can take many years to complete, that the outcome of any clinical trial is uncertain and failure can occur at any time during the clinical trial process, and that Inovio’s electroporation technology and DNA vaccines may fail to show the desired safety and efficacy traits in clinical trials; all product candidates that Inovio advances to clinical testing will require regulatory approval prior to commercial use, and will require significant costs for commercialization; the availability of funding; the ability to manufacture vaccine candidates; the availability or potential availability of alternative therapies or treatments for the conditions targeted by Inovio or its collaborators, including alternatives that may be more efficacious or cost-effective than any therapy or treatment that Inovio and its collaborators hope to develop; whether Inovio’s proprietary rights are enforceable or defensible or infringe or allegedly infringe on rights of others or can withstand claims of invalidity; and the impact of government healthcare proposals. Readers are also referred to Inovio’s Annual Report on Form 10-K for the year ended December 31, 2009 and other regulatory filings filed with the Securities and Exchange Commission which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.

Thursday, April 8th, 2010 Uncategorized Comments Off on Inovio Biomedical (INO) Completes Enrollment of Cervical Cancer Therapeutic Vaccine Study

Kingstone (KINS) Files Annual Report

Apr. 8, 2010 (Business Wire) — Kingstone Companies, Inc. (NASDAQ: KINS) filed its Form 10-K for the year ended December 31, 2009.

Barry Goldstein, Kingstone’s Chairman and CEO, said “2009 was a transition year for our company. We exited the agency business, which was a major source of the Company’s revenues and earnings in years past. Our acquisition of Kingstone Insurance Company (“KICO”) took place on July 1, 2009. As a result, we include in our 2009 earnings six months of results for the insurance company. The results from the agency business are included in discontinued operations. A one-time gain, essentially giving recognition to a bargain purchase, was recorded in the amount of $5.18 million. As of year end, our book value per diluted share was $3.49.”

Victor Brodsky, Chief Financial Officer, commented that “so as to allow for some comparison to the prior year, selected unaudited pro forma results were prepared as though the transaction occurred as of January 1, 2008. This shows revenues from continuing operations increasing to $13.3 million in 2009 from $12.3 million in 2008. Net income on this same pro forma basis increased from a 2008 loss of ($144,000) to a 2009 net profit of $517,000. The net loss and income figures exclude the transactions costs of $240,000 and $62,000 for 2009 and 2009, respectively, relating to the acquisition of KICO and the gain on acquisition of KICO of $5,178,000 for 2009.

Selected data

Item 2009(In thousands

except per share data)

2008(In thousands

except per share data)

Total Revenues $7,667 $430
Total Operating Expenses $7,096 $1,156
Acquisition Transaction Costs $210 $33
Depreciation and Amortization $269 $37
Interest Expense $311 $337
Gain on Acquisition of KICO $5,178
Interest Income – Note receivable $61 $765
Benefit from Tax $67 $448
Income from Continuing Operations $5,087 $79
Loss from Discontinued Operations $(266) $(1,057)
Net Income (Loss) $4,821 $(977)
Unrealized Investment Gains, net of tax $216
Comprehensive Income (Loss) $5,037 $(977)
Net Income (Loss) Per Share $1.62 $(.33)
Book Value Per Share $3.49 $1.77

Annual Meeting of Shareholders-The Board of Directors has set June 22, 2010 as the date of the annual meeting.

Forward Looking Statements

Statements in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These statements involve risks and uncertainties that could cause actual results to differ materially from those included in forward-looking statements due to a variety of factors. More information about these factors can be found in Kingstone’s filings with the Securities and Exchange Commission, including its latest Annual Report filed with the Securities and Exchange Commission on Form 10-K. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Thursday, April 8th, 2010 Uncategorized Comments Off on Kingstone (KINS) Files Annual Report

Streamline Health(R) Solutions (STRM) Reports Fourth Quarter and Year End Results

CINCINNATI, April 7 /PRNewswire-FirstCall/ — Streamline Health Solutions, Inc. (Nasdaq: STRM) today announced financial results for the fourth quarter and fiscal year, ended January 31, 2010.

Highlights for the quarter and fiscal year included:

  • Record fiscal year revenues of $18.2 million and record quarterly revenues of $6.3 million reflecting increases of 12% and 86% respectively;
  • The general availability and successful delivery in Q4 of our newest-generation software platform, called accessANYware 5.0;
  • System sales up 773% vs. Q4 2008 and 13% for the year;
  • 44% increase in quarterly application hosting revenues vs Q4 2008;
  • Services, maintenance and support revenues increased 10% vs. last year’s fourth quarter;
  • Fiscal year operating income improved by $2.7 million to a profit of $1.4 million from a loss of $1.3 million last year;
  • Two new customer contracts were signed in the Company’s fourth quarter and two have already been signed in the first quarter of 2010.

Revenues for the three months ended January 31, 2010, were a record $6.3 million compared with $3.4 million in the comparable quarter of 2008.  Net income for the quarter was $1.6 million, or $0.17 per share, compared to a net loss of $146,000, or $0.02 per share, in the fourth quarter of 2008.  The increase of $2.4 million in system sales when compared with the prior fourth quarter was due to the recognition of $1.7 million in revenue relating to the general availability status and associated delivery of our newest-generation software platform, called accessANYware 5.0. System sales in the fourth quarter of fiscal 2009 were also improved by $700,000 due to the recently announced sale to Moses Cone Health System. Revenues from application hosting services also continued their growth in the fourth quarter and increased by $260,000, or 44%, over the comparable fourth quarter of 2008.  Revenues from services, maintenance, and support also increased by nearly 10%, or $241,000 over the comparable prior fourth quarter.

Strong revenue growth in the fourth quarter contributed to record revenues for the full fiscal year ended January 31, 2010.  Fiscal 2009 revenues increased 12% to $18.2 million compared with $16.3 million reported for fiscal year 2008.

Total operating expenses for fiscal year 2009 were $16.9 million compared with $17.6 million in fiscal 2008. This expense reduction was primarily the result of effective cost management measures initiated in the third quarter of fiscal 2008. Total operating expenses for the three months ended January 31, 2010 and 2009 were $4.6 million and $3.5 million, respectively.  The increase in these comparable fourth quarter expenses is reflective of the cumulative nature of selective staff increases and investments made throughout fiscal 2009.  Fourth quarter 2009 expenses also increased due to additional amortization of capitalized software development costs, the impact of increased bonus and commissions, combined with a reduction in eligible capitalized software development costs.

The operating profit for the fourth quarter of fiscal 2009 was $1.6 million, compared to an operating loss of $132,000 in the fourth quarter of fiscal 2008. The operating income for full fiscal 2009 was $1.4 million compared with an operating loss of $1.3 million for full fiscal 2008. This represents a significant improvement of approximately $2.7 million over the comparable prior period.

Fiscal 2009 net income improved by $2.7 million to a profit of $1.3 million, or $0.14 per share, compared to a net loss of $1.4 million, or $0.15 per share, for fiscal 2008.

Total backlog at the end of the fourth quarter was $19.9 million compared with $26.2 million backlog of a year ago. The bulk of the backlog continues to come from SaaS-based hosting services contracts versus software licensing sales. Streamline Health is a leader in hosting solutions that allow hospital organizations to adopt document workflow and document management tools, applications and services to improve operational efficiencies in the most cost-efficient manner possible. Management believes that the hosting model will be the preferred delivery model as the market improves.

J. Brian Patsy, Chief Executive Officer of Streamline Health, commented, “The results of the fourth quarter and the fiscal year were very positively impacted by the $2.4 million of license sales to our Canadian customers and to the Moses Cone Health System that was secured during the fourth quarter. While our expectation is that the vast majority of our revenues will be recurring revenues generated through the application hosting model, license sales will have a profound top- and bottom-line impact as they are recorded in the coming years. We are very well positioned to adjust to the buying patterns of our customers and can provide leading-edge solutions in whichever manner is efficient and cost-effective for those customers. Clearly, we are pleased to have achieved record top-line results in the fourth quarter and in fiscal year 2009.

“In addition to the license sale contracts that we secured during the fourth quarter,” continued Mr. Patsy, “we also closed a new application hosting model customer – St. Vincent’s Medical Center in Bridgeport, Connecticut. St. Vincent’s is affiliated with the Ascension Health Network; which is the nation’s largest Catholic and non-profit health system in the United States. We believe this initial sale has the potential to lead to additional sales throughout the entire system in the years to come based on performance and efficacy.

“We are also off to a good start in the new year by closing two application hosting contracts since the beginning of our fiscal year on February 1. The first contract is with Children’s National Medical Center in Washington, D.C. for our Audit Program Management Solution which will support Children’s National in audits required of all pediatric hospitals, including those by third-party payers and government agencies. The second application hosting contract was secured with East Orange General Hospital in New Jersey for our accessANYware health information management solution to provide access to document-centric patient information across the entire enterprise to enable hospital operating efficiencies and improved patient outcomes. We are excited with the possibilities in 2010 and beyond,” concluded Mr. Patsy.

Conference Call Information

The Company will conduct a conference call and web cast to review the results of the fourth quarter and full fiscal year 2009 later today, April 7, 2010 at 4:30 p.m. ET.

Interested parties can access the call by dialing (800) 860-2442 or (412) 858-4600, or can listen via a live Internet web cast, which can be found at www.streamlinehealth.net. A replay of the call will be available by visiting www.streamlinehealth.net for 30 days or by calling (877) 344-7529 or (412) 317-0088, access code 438980, through April 12, 2010.

About Streamline Health

Streamline Health is a leading supplier of document workflow and document management tools, applications and services that assist strategic business partners and healthcare organizations to improve operational efficiencies through business process optimization.  The Company provides integrated tools and technologies for automating document-intensive environments, including document workflow, document management, e-forms, connectivity, optical character recognition (OCR) and business process integration.

Streamline Health’s solutions create a permanent document-based repository of historical health information that is complementary and can be seamlessly integrated with existing disparate clinical, financial and administrative information systems, providing convenient electronic access to all forms of patient information from any location, including secure web-based access. For additional information, please visit our website at http://www.streamlinehealth.net.

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995

Statements made by Streamline Health Solutions, Inc. that are not historical facts are forward-looking statements that are subject to risks and uncertainties. The forward-looking statements contained herein are subject to certain risks, uncertainties and important factors that could cause actual results to differ materially from those reflected in the forward-looking statements, included herein. These risks and uncertainties include, but are not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, key strategic alliances with vendors that resell the Company’s products, the ability of the Company to control costs, availability of products produced from third party vendors, the healthcare regulatory environment, potential changes in legislation, regulation and government funding affecting the healthcare industry, healthcare information systems budgets, availability of healthcare information systems trained personnel for implementation of new systems, as well as maintenance of legacy systems, fluctuations in operating results, effects of critical accounting policies and judgments, changes in accounting policies or procedures as may be required by the Financial Accountings Standards Board or other similar entities, changes in economic, business and market conditions impacting the healthcare industry, the markets in which the Company operates and nationally, and the Company’s ability to maintain compliance with the terms of its credit facilities, and other risks detailed from time to time in the Streamline Health Solutions, Inc. filings with the U. S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis only as of the date hereof. The Company undertakes no obligation to publicly release the results of any revision to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

COMPANY CONTACT: INVESTOR CONTACT:
Donald E. Vick, Jr. Joe Diaz, Robert Blum or Joe Dorame
Interim Chief Financial Officer Lytham Partners, LLC
(513) 794-7100 (602) 889-9700

Financial Tables Follow

STREAMLINE HEALTH SOLUTIONS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

Three Months and Fiscal Year Ended January 31,

Three Months

Fiscal Year

2010

2009

2010

2009

Revenues:
Systems sales

$

2,716,138

$

311,139

$

3,673,522

$

3,249,270

Services, maintenance and support

2,710,208

2,469,215

11,233,183

10,124,829

Application-hosting services

855,515

595,856

3,301,493

2,911,559

Total revenues

6,281,861

3,376,210

18,208,198

16,285,658

Operating expenses:

Cost of systems sales

901,453

705,459

2,993,442

3,327,944

Cost of services, maintenance and support

1,335,410

986,649

5,033,145

4,329,026

Cost of application-hosting services

437,970

323,880

1,641,576

1,207,590

Selling, general and administrative

1,492,703

1,322,142

5,503,580

6,503,465

Product research and development

486,128

169,961

1,682,773

2,264,332

Total operating expenses

4,653,664

3,508,091

16,854,516

17,632,357

Operating income (loss)

1,628,197

(131,881)

1,353,682

(1,346,699)

Other income (expense):
Interest income

39

7,865

Interest expense

(13,569)

(15,893)

(43,823)

(24,436)

Other income (expense)

(1,641)

18,749

Income (Loss) before taxes

1,612,987

(147,735)

1,328,608

(1,363,270)

Income taxes

(27,500)

1,800

(40,500)

(11,700)

Net (loss) income

$

1,585,487

$

(145,935)

$

1,288,108

$

(1,374,970)

Basic net income (loss) per common share

$

0.17

$

(0.02)

$

0.14

$

(0.15)

Diluted net income (loss) per common share

$

0.17

$

(0.02)

$

0.14

$

(0.15)

Number of shares used in per common share computations:

Basic

9,401,342

9,305,869

9,381,285

9,286,261

Diluted

9,554,363

9,305,869

9,530,891

9,286,261

STREAMLINE HEALTH SOLUTIONS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

Assets

January 31,

2010

2009

Current assets:
Cash and cash equivalents

$

1,025,173

$

3,128,801

Accounts receivable, net of allowance for doubtful accounts of $100,000

1,922,279

1,328,508

Contract receivables

1,182,308

502,373

Prepaid hardware and third party software for future delivery

149,281

681,540

Prepaid other, including prepaid customer maintenance contracts

1,363,332

802,951

Deferred income taxes

247,000

Total current assets

5,642,373

6,691,173

Property and equipment:
Computer equipment

2,987,039

2,475,928

Computer software

1,816,397

1,405,407

Office furniture, fixtures and equipment

747,867

737,344

Leasehold improvements

574,257

574,257

6,125,560

5,192,936

Accumulated depreciation and amortization

(4,344,432)

(3,625,408)

1,781,128

1,567,528

Contract receivables, less current portion

146,093

321,500

Capitalized software development costs, net of accumulated amortization of $10,411,828 and $8,311,760, respectively

8,049,292

6,481,360

Other, including deferred taxes of $1,875,000 and $1,628,000, respectively

1,905,661

1,670,891

$

17,524,547

$

16,732,452

Liabilities and Stockholders’ Equity

Current liabilities:
Accounts payable

$

887,928

$

759,577

Accrued compensation

559,235

299,000

Accrued other expenses

476,504

472,113

Current portion of capital lease obligations

249,309

Current portion of deferred revenues

4,956,303

5,941,837

Total current liabilities

7,129,279

7,472,527

Deferred revenues, less current portion

602,239

1,313,977

Line of credit

900,000

800,000

Capital lease, less current portion

161,666

Other

48,842

Total liabilities

8,793,184

9,635,346

Stockholders’ equity:

Convertible redeemable preferred stock, $.01 par value per share,5,000,000 shares authorized, no shares issued

Common stock, $.01 par value per share, 25,000,000 shares authorized, 9,436,824 and 9,354,782 shares issued, respectively

94,368

93,548

Additional paid in capital

36,160,126

35,820,417

Accumulated other comprehensive income

5,620

Accumulated (deficit)

(27,528,751)

(28,816,859)

Total stockholders’ equity

8,731,363

7,097,106

$

17,524,547

$

16,732,452

STREAMLINE HEALTH SOLUTIONS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Fiscal Year

2009

2008

Operating activities:
Net earnings (loss)

$

1,288,108

$

(1,374,970)

Adjustments to reconcile net earnings(loss) to net cash provided by operating activities:

Depreciation and amortization

2,868,997

2,369,670

Impairment loss on capitalized software development costs

408,809

Loss on disposal of fixed assets

4,308

Share-based compensation expense

274,629

158,747

Provision for allowance for doubtful accounts

Change in assets and liabilities:
Accounts, contract and installment receivables

(1,098,299)

2,514,313

Other assets

54,664

(498,441)

Accounts payable

174,020

(759,105)

Accrued expenses

264,627

(286,697)

Deferred revenues

(1,697,272)

2,072,481

Net cash provided by operating activities

2,133,782

4,604,807

Investing activities:
Purchases of property and equipment

(698,698)

(794,950)

Proceeds from disposal of property and equipment

Capitalization of software development costs

(3,668,000)

(3,680,000)

Other

(36,612)

(110,459)

Net cash used in investing activities

(4,403,310)

(4,585,409)

Financing activities:
Net change under revolving credit facility

100,000

800,000

Payment of capitalized leases

Proceeds from exercise of stock options and stock purchase  plan

65,900

120,393

Net cash provided by (used in) financing activities

165,900

920,393

Increase (Decrease) in cash and cash equivalents

(2,103,628)

939,791

Cash and cash equivalents at beginning of year

3,128,801

2,189,010

Cash and cash equivalents at end of year

$

1,025,173

$

3,128,801

Supplemental cash flow disclosures:
Interest paid

$

34,507

$

23,883

Income taxes paid (refunded)

$

7,265

$

(3,278)

Non Cash Purchases from Capital Lease:
Computer equipment

215,427

Computer equipment

118,381

Other

77,167

$

410,975

$

At January 31, 2010, Streamline Health has master agreements, purchase orders or royalty reports from remarketing partners for systems and related services which have not been delivered, installed and accepted which, if fully performed, will generate future revenues of $19,855,000 compared with $26,179,000 at the end of the prior fiscal year as follows:

January 31, 2010

January 31, 2009

Streamline Health Software Licenses

201,000

1,027,000

Custom Software

105,000

278,000

Hardware and Third Party Software

171,000

562,000

Professional Services

3,977,000

4,691,000

Application Hosting Services

9,414,000

13,043,000

Recurring Maintenance

5,987,000

6,578,000

Total

$19,855,000

$26,179,000

Thursday, April 8th, 2010 Uncategorized Comments Off on Streamline Health(R) Solutions (STRM) Reports Fourth Quarter and Year End Results

Cinedigm (CIDM) Announces Agreement With Rave Motion Pictures for Phase 2 Deployment Program

MORRISTOWN, NJ and LOS ANGELES, CA — (Marketwire) — 04/07/10 — Cinedigm Digital Cinema Corp. (NASDAQ: CIDM), the global leader in the digital cinema industry, today announced Rave Motion Pictures, a Texas-based cinema chain, has signed an agreement to participate in Cinedigm’s Phase 2 digital cinema deployment program. Three hundred fifty-six Rave screens across 20 U.S. states will participate in the Phase 2 program including some that have previously installed digital cinema equipment and 277 that will be converted using Barco Series II projection equipment. All will become Cinedigm Certified™ digital cinema theatres using Cinedigm technology solutions.

Tom Stephenson, President of Rave Motion Pictures, said, “Our experience working with Cinedigm over the past few years has been excellent. They provide the technology that makes running our theatres in the digital cinema age successful, and the alternative content programming that helps make our customers recognize Rave as a superior entertainment provider. We’re excited to extend our working relationship with them and to bring more entertainment to our new locations across the country.”

“Tom Stephenson and the entire management team at Rave have been visionary partners with Cinedigm since joining our Phase 1 digital cinema deployment in 2006. We are thrilled to have them join our Phase 2 deployment with Barco,” said Bud Mayo, Chairman and CEO of Cinedigm. “Rave has been ahead of the curve in using digital cinema to change the exhibition model. As more 3D and alternative content becomes available from Cinedigm Entertainment Group and studios, Rave has positioned itself to enjoy all of the incremental benefits.”

Chuck Goldwater, President of Cinedigm’s Media Services Group, said, “Rave is an ideal exhibition partner. They were an early industry leader with their commitment to digital cinema and their embrace of all the programming benefits that are enabled by the technology. We are proud of our expanding partnership with the Rave team and pleased to be working with the Barco team on this next stage of digital cinema with Rave.”

Cinedigm’s Digital Cinema division is the industry-leading deployment program for Digital Cinema that facilitates the funding, installation support and administration for the company’s studio-supported Digital Cinema rollout plans. All theatres that participate in their Phase 1 and Phase 2 plans become Cinedigm Certified™ with Cinedigm’s proven technology to provide the very best experience possible along with choices of programming never before available. In April 2008, the CBG, a buying program of the National Association of Theatre Owners (NATO) for small and independent theatre operators, announced the selection of Cinedigm as the digital cinema integrator of choice for the CBG’s 600+ members in the United States and Canada.

To date, Cinedigm has contracted for and completed the rollout of nearly 4,000 systems in forty-one states with multiple exhibitors. Its Phase 2 plan for up to an additional 10,000 screens will provide networked, turnkey Digital Cinema systems in conformance with DCI specifications.

About Cinedigm
Cinedigm is the leader in providing the services, experience, technology and content critical to transforming movie theaters into digital and networked entertainment centers. The Company is a technology and services integrator that works with Hollywood movie studios, independent movie distributors, and exhibitors to bring movies in digital cinema format to audiences across the country. Cinedigm’s digital cinema deployment organization, software, unique combined satellite and hard drive digital movie delivery network; pre-show in-theater advertising services; and distribution platform for alternative content such as CineLive® 3-D and 2-D sports and concerts, thematic programming and independent movies provide a complete suite of services required to enable the digital theater conversion. www.cinedigm.com [CIDM-G]

About Rave Motion Pictures
Rave Motion Pictures owns or manages 63 theaters and approximately 1,000 screens in twenty states across the country and in seven of the top ten Designated Market Areas (DMAs). Rave is currently the fifth largest domestic circuit by box office gross and number of screens.

Since its founding by Thomas W. Stephenson, Jr. in 1999, Rave Motion Pictures has been dedicated to enriching the movie-going experience for audiences across the country. Rave Motion Pictures has set the industry standard for customer service and comfort and is a pioneer in the adoption of current digital and 3-D technology and a leader in alternative content programming from live sports to concerts to opera.

About Barco
Barco, a global technology company, designs and develops visualization products for a variety of selected professional markets. Barco has its own facilities for Sales & Marketing, Customer Support, R&D and Manufacturing in Europe, North America and Asia Pacific. Barco (NYSE Euronext Brussels: BAR) is active in more than 90 countries with about 3100 employees worldwide. Barco posted sales of 638 million euro in 2009.

Contacts:
Suzanne Moore
Cinedigm Digital Cinema Corp.
(973) 290-0056
Email Contact

Rave Motion Pictures Corporate Office
3333 Welborn St.
Suite 100
Dallas TX 75219
972-692-1700 – Telephone
972-692-1709 – Fax
Email: Email Contact

Thursday, April 8th, 2010 Uncategorized Comments Off on Cinedigm (CIDM) Announces Agreement With Rave Motion Pictures for Phase 2 Deployment Program

Valence Technology (VLNC) Brings Intelligent Batteries to “Smart Grid Community of the Future”

Apr. 8, 2010 (Business Wire) — Valence Technology (NASDAQ: VLNC) today announced it has been selected as the preferred residential/community battery technology provider for the “Smart Grid Community of the Future,” the first smart grid solar powered residential development in Texas, the Houston-area master planned community of Discovery at Spring Trails. Utilizing its lithium phosphate battery design, including intelligent Command & Control logic, Valence Technology will supply dynamic energy systems for the individual smart grid residences containing electric vehicle charging stations and smart appliances. Valence Technology’s energy solutions will be used to support a smart-energy practice known as “peak shaving,” whereby smart appliances like dishwashers and washing machines are efficiently utilized during peak demand hours.

This smart grid project will demonstrate how community battery systems can enhance grid stability and decrease overall electricity costs by practicing “peak shaving.” Homeowners can avoid higher peak power costs during evening hours when multiple appliances are typically running after Valence Technology dynamic energy systems kick-in to power the smart appliances.

“Valence Technology is proud to be involved with a project as pioneering as the Discovery at Spring Trails smart grid community,” said Robert L. Kanode, president and CEO, Valence Technology. “By significantly reducing homeowners’ energy costs through peak shaving, community storage applications will gain acceptance in the marketplace. Valence Technology is well-positioned to provide proven, field-tested dynamic energy systems that will enable greener, smarter and more efficient energy use.”

As part of the regional demonstration project entitled “Technology Solutions for Wind Integration in the Electric Reliability Council of Texas (ERCOT),” the “Smart Grid Community of the Future” will serve as a test model for the development of future distributed energy-generation communities utilizing clean technologies. The project includes improved technologies to monitor the ERCOT electric grid and expanded smart portal capability to support demand response in the new development, Discovery at Spring Trails. With $13.5 million in funding from the U.S. Department of Energy, the $27.4 million project is scheduled to break ground this year.

The team for this “Smart Grid” project includes CCET, Valence Technology, Southwest Research Institute, Electric Power Group, EcoEdge, CenterPoint Energy, Oncor, American Electric Power, Sharyland Utilities, Land Tejas Developers, Montgomery County Municipal Utility District 119, Xtreme Power/Energy Xtreme, General Electric, GridPoint, Direct Energy, Drummond Group and Frontier Associates.

Valence Technology stationary energy storage systems are designed for use in frequency regulation, community energy storage, telecommunications back-up power, auxiliary power units and uninterruptible power supply projects around the globe.

About Valence Technology, Inc.

Valence Technology is an international leader in the development of safe, long-life lithium iron magnesium phosphate energy storage solutions and provides the enabling technology behind some of the world’s most innovative and environmentally friendly applications. Founded in 1989, Valence today offers a proven technology and manufacturing infrastructure that delivers ISO-certified products and processes that are protected by an extensive global patent portfolio. Headquartered in Austin, Texas, Valence Technology is strategically aligned by five business segments: Motive, Marine, Stationary, Industrial and Military. In addition to the corporate headquarters in Texas, Valence Technology has its Research & Development Center in Nevada, its Europe/Asia Pacific Sales office in Northern Ireland and global fulfillment centers in North America and Europe. Valence Technology is traded on the NASDAQ Capital Market under the ticker symbol VLNC. For more information, visit www.valence.com.

About CCET

The Center for the Commercialization of Electric Technologies (CCET) recently received the $13.5 million grant from U.S. Department of Energy aimed at better integrating the vast Texas wind energy resources into the state’s electric transmission, distribution and metering system. The project represents a multi-faceted synergistic approach to managing fluctuations in wind power in the large Electric Reliability Council of Texas (ERCOT) transmission grid through better system monitoring capabilities, enhanced operator visualization and improved load management. CCET is leading a coalition of Texas electricity market participants, including Valence Technology, in carrying out the demonstration project. For more information, visit www.electrictechnologycenter.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may vary substantially from these forward-looking statements as a result of a variety of factors. The risk factors that could affect actual results are discussed in our periodic reports filed with the Securities and Exchange Commission, including our Report on Form 10-K for the year ended March 31, 2009, and the reader is directed to these statements for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements.

Thursday, April 8th, 2010 Uncategorized Comments Off on Valence Technology (VLNC) Brings Intelligent Batteries to “Smart Grid Community of the Future”

Cubic Energy, Inc. (QBC) Announces Expected Drilling Schedule for the Balance of Calendar 2010 and Announces Well Result

DALLAS, April 7, 2010 (GLOBE NEWSWIRE) — Cubic Energy, Inc. (NYSE Amex:QBC) (“Cubic” or the “Company”) today announces, based on drilling projections recently provided by operators of its Haynesville Shale acreage, the Company is scheduled to participate in up to 13 gross and 4.62 net horizontal Haynesville Shale wells (36.2% working interest) in calendar year 2010.

If these projected wells are drilled as currently scheduled, Cubic’s capital expenditures for the calendar 2010 drilling program could exceed $40,000,000. Cubic’s share of the cost of the majority of these wells currently scheduled to be drilled through December 31, 2010 would be covered by a Drilling Credit acquired in November, 2009. Generated cash flow, cash on hand and/or existing credit availability could also be utilized for drilling obligations, if necessary. These wells are operated by other companies and the current drilling schedule for these wells is subject to change based upon factors beyond Cubic’s control.

Today, Cubic also announces a peak twenty-four (24) hour flow rate of approximately 1350 Mcfe per frac stage from its Red Oak 6 No. 1 well (35% working interest) in its Bethany Longstreet acreage in southern Caddo Parish, Louisiana. Only five frac stages of the anticipated fifteen were pumped due to a breach in the casing at approximately 11,000′. However, an additional well with a 10 to 15 frac stage completion is already planned for this Section.

Cubic Energy, Inc. is an independent company engaged in the development and production of, and exploration for, crude oil and natural gas. The Company’s oil and gas assets and activity are concentrated primarily in the Haynesville Shale Play located in Northwest Louisiana. Additional information can be found on Cubic’s website at: http://www.globenewswire.com/newsroom/ctr?d=188232&l=4&a=www.cubicenergyinc.com&u=http%3A%2F%2Fus.lrd.yahoo.com%2F_ylt%3DAhoErl76vlEpcdB.9y69z2b8ba9_%3B_ylu%3DX3oDMTE2MmF2Nm9mBHBvcwMxBHNlYwNuZXdzYXJ0Ym9keQRzbGsDd3d3Y3ViaWNlbmVy%2FSIG%3D14kdqqhu2%2F%2A%2Ahttp%253A%2Fwww.globenewswire.com%2Fnewsroom%2Fctr%253Fd%3D173547%2526amp%3Bl%3D4%2526amp%3Ba%3Dwww.cubicenergyinc.com%2526amp%3Bu%3Dhttp%25253A%25252F%25252Fwww.cubicenergyinc.com.

The Cubic Energy logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1243

This press release includes statements, which may constitute “forward-looking” statements, usually containing the words “believe”, “intend”, “estimate”‘, “project”‘, “expect”‘, or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in natural gas prices, the availability of capital for development of mineral projects and other projects, the availability of capital to satisfy debt obligations, dependency on pipelines in which to sell the Company’s natural gas it produces, reliance on third party operators for wells in which the Company maintains a working interest, reliance on third party contractors to aid in developing the production infrastructure and in the performance of well completion work, and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release. There can be no assurance that any future activities and/or transactions mentioned in this press release will occur as planned. Cubic cannot guarantee the timing of the drilling referenced above or any level of production from its wells.

Wednesday, April 7th, 2010 Uncategorized Comments Off on Cubic Energy, Inc. (QBC) Announces Expected Drilling Schedule for the Balance of Calendar 2010 and Announces Well Result

Rexahn Pharmaceuticals (RNN) to Present at NASDAQ MarketSite

ROCKVILLE, Md.–(BUSINESS WIRE)–Rexahn Pharmaceuticals, Inc. (NYSE Amex:RNN), a clinical stage pharmaceutical company commercializing potential best in class oncology and CNS therapeutics, today announced that Dr. Chang Ahn, Rexahn’s Chief Executive Officer, will present at the NASDAQ MarketSite in Times Square, New York City, NY on Tuesday, April 13, 2010 at 12:30 PM EDT.

Dr. Ahn will discuss Rexhan’s important corporate developments in conjunction with a simultaneously issued press release.

Investors and media are welcome to attend and RSVP to:

Christi Flood
MUNCmedia
Communications & Marketing Manager
212-699-0999
Christina.flood@muncmedia.com

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 http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.rexahn.com&esheet=6240049&lan=en_US&anchor=www.rexahn.com&index=1&md5=44f79396c6028f79539bad59e2e44cd8.

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.

Wednesday, April 7th, 2010 Uncategorized Comments Off on Rexahn Pharmaceuticals (RNN) to Present at NASDAQ MarketSite
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