Archive for June, 2011

New Energy Systems Group (NEWN) Announces Addition to Russell Microcap Index

SHENZHEN, China, June 30, 2011 /PRNewswire-Asia-FirstCall/ — New Energy Systems Group (NYSE Amex: NEWN) (“New Energy” or the “Company”), a vertically-integrated original design manufacturer and distributor of lithium ion batteries and consumer branded backup power systems, today announced that it has been added to the Russell Microcap Index effective June 24, 2011.

Russell Investments, a leading financial services provider serving individual and institutional investors, rebalances its entire family of indexes every year to maintain true representation of global equity markets, capitalization and style. Companies are added and deleted from the various indices according to these changes. The Russell Microcap Index Fund had approximately $497 million of assets as of June 28, 2011.

New Energy Chairman Weihe Yu stated, “We are proud to be a part of an index that includes premier companies such as Orbitz Worldwide and Rosetta Stone. It signifies the progress New Energy has made in a short period of time. As we continue to execute our growth strategies in the years ahead, we will strive to deliver significant shareholder value.”

About New Energy Systems Group

New Energy Systems Group is a vertically integrated original design manufacturer and distributor of lithium ion batteries and backup power systems for leading manufacturers of mobile phones, laptops, digital cameras, MP3s and a variety of other portable electronics. The Company’s end-user consumer products are sold under the Anytone® brand in China while it’s commercial and OEM batteries and battery components are sold under New Power and E’Jenie. The fast pace of new mobile device introductions in China combined with a growing middle class make it fertile ground for New Energy’s end-user consumer products, as well as its high powered, light weight lithium ion batteries. In addition to historically strong organic growth, New Energy is expected to benefit from economies of scale, broader distribution and higher profit margins in 2011. Additional information about the company is available at: www.newenergysystemsgroup.com.

Forward Looking Statements

This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary and affiliated companies. These forward looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

For more information, please contact:

COMPANY

New Energy Systems Group

Ken Lin, VP of Investor Relations

Tel: +1-917-573-0302

Email: ken@newenergysystemsgroup.com

Web: www.newenergysystemsgroup.com

INVESTOR RELATIONS

HC International, Inc.

John Mattio, SVP

Tel: US +1-212-301-7130

Email: john.mattio@hcinternational.net

Web: www.hcinternational.net

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American Lorain Corp. (ALN) Announces Share Repurchase Program

JUNAN COUNTY, China, June 30, 2011 /PRNewswire-Asia-FirstCall/ — American Lorain Corporation (NYSE Amex: ALN) (“American Lorain” or the “Company”), an international processed snack foods, convenience foods, and frozen foods company based in Shandong Province, China, today announced that its Board of Directors has approved a share repurchase program that authorizes American Lorain to repurchase up to $5 million of its common stock in the open market or through privately negotiated transactions in the next 12 months.

The Company expects to implement this share repurchase program in a manner consistent with market conditions and the interest of the shareholders, and in compliance with Rule 10b5-1 or Rule 10b-18 of the Securities Exchange Act of 1934. The program does not obligate American Lorain to acquire any particular amount of its common stock and may be modified or suspended at any time upon review by the Company’s board of directors. The Company plans to fund repurchases made under this program from its available cash balance.

American Lorain’s Chairman and CEO, Mr. Si Chen, stated, “We remain confident in the fundamentals and long-term prospects of our business. However, we believe our common shares are currently undervalued and are thus initiating this share buyback program. We will continue to focus on growing our business and thus enhancing shareholder value.”

About American Lorain Corporation

American Lorain Corporation products include chestnut products, convenience food products and frozen food products. The Company currently sells over 240 products to 26 provinces and administrative regions in China as well as to 42 foreign countries. The Company operates through its five direct and indirect subsidiaries and one leased factory located in China. For further information about American Lorain Corporation, please visit the Company’s website at http://www.americanlorain.com.

SOURCE American Lorain Corporation

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RiT (RITT) to Provide its IIM Solution for Datacenter Management to Global Financial Institution

RiT Technologies (NASDAQ: RITT), the world-leading provider of intelligent infrastructure solutions, today announced that it has received several major new orders from one of its largest customers, a top-tier diversified financial services company. The orders, which total over one million dollars, are for the expansion of the PatchView™ intelligent infrastructure management (IIM) systems currently deployed in the client’s international headquarters and central datacenters.

This global account has been a satisfied RiT customer for many years, and credits RiT’s PatchView(TM) with having helped it maximize network continuity, minimize ongoing maintenance costs, enforce physical layer security and simplify infrastructure planning. The projects will include the implementation of IIM systems in new datacenter and people workspace facilities in branch offices, and the integration of the RiT solution throughout the organization with the customer’s internal systems.

“We are proud of the relationship we have built with this prestigious customer, who became one of the industry’s earliest adopters of our PatchView IIM, and quickly came to rely on it as a strategic infrastructure management tool,” said Eran Ayzik, RiT’s President and CEO. “Over the years, our deployments in the customer’s mission-critical headquarters and datacenter networks have proved PatchView’s ability to streamline complex infrastructure operations and to slash the time required to deploy large-scale projects. In addition, we have differentiated ourselves consistently through our ability to support the customer through all the stages of the project with tailor-made and customized solutions.”

Mr. Ayzik continued, “Now that the IIM concept is gaining mainstream acceptance from additional top-tier enterprises, we are benefiting from our extensive track record with this and other satisfied customers worldwide. We believe this will help us secure additional large-scale customers, and hopefully to form relationships that translate into multi-year streams of ongoing revenues.”

About RiT Technologies

RiT is a leading provider of intelligent solutions for infrastructure management, asset management, environment and security, and network utilization. RiT Enterprise solutions address datacenters, communication rooms and workspace environments, ensuring maximum utilization, reliability, decreased downtime, physical security, automated deployment, asset tracking, and troubleshooting. RiT Carrier solutions provide carriers with the full array of network mapping, testing and bandwidth qualification capabilities needed for access network installation and service provisioning. RiT’s field-tested solutions are delivering value in thousands of installations for top-tier enterprises and operators throughout the world.

For more information, please visit our website: http://www.rittech.com

Safe Harbor Statement

In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words believe,anticipate,expect,plan,intend,estimate”, “forecast”, target, could and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For example, when we discuss a field trial which could lead to a multi-million dollar Carrier deal, we are using a forward looking statement. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described under the heading Risk Factors in our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 20-F, which may be revised or supplemented in subsequent reports filed with the SEC. These factors include, but are not limited to, the following: our ability to raise additional financing, if required; the continued development of market trends in directions that benefit our sales; our ability to maintain and grow our revenues; our dependence upon independent distributors, representatives and strategic partners; our ability to develop new products and enhance our existing products; the availability of third-party components used in our products; the economic condition of our customers; the impact of government regulation; and the economic and political situation in Israel. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

Company Contact:
Moti Antebi
CFO
+972-3-766-4249
motia@rit.co.il

SOURCE RiT Technologies Ltd

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Leading Brands, Inc. (LBIX) Announces Q1 Results

VANCOUVER, British Columbia, June 30, 2011 (GLOBE NEWSWIRE) — Leading Brands, Inc. (Nasdaq:LBIX), North America’s only fully integrated healthy branded beverage company, announces results for its first quarter of fiscal 2011, which ended May 31, 2011. All financial amounts are denominated in Canadian dollars, with all financial figures rounded to the nearest $000.

Q1 net income was $448,000 or $0.13 per share ($0.12 fully diluted) versus net income of $408,000 or $0.10 per share in the same quarter of fiscal 2010. Q1 net income before stock based compensation (SBC) increased to $617,000 or $0.18 per share ($0.17 fully diluted) versus $478,000 or $0.12 per share in the same quarter last year.

Q1 EBITDAS (Earnings Before Interest, Depreciation, Amortization and SBC) was $1,031,000 or $0.29 per share ($0.28 fully diluted), a 15% increase over $897,000 or $0.23 per share during the same period last year.

Non-GAAP Net Income before SBC is determined as follows:

Q1

2011

Q1

2010

Net Income $448,000 $408,000
Add back SBC 169,000 70,000
Net income before SBC $617,000 $478,000

Non-GAAP Net Income per share before SBC are determined as follows:

Q1

2011

Q1

2010

Net Income per share $0.13 $0.10
Add back SBC per share 0.05 0.02
Net Income per share before SBC $0.18 $0.12

Pro-forma results for EBITDAS, as defined below, are determined as follows:

Q1

2011

Q1

2010

Net Income $448,000 $408,000
Add back:
Interest 25,000 44,000
Depreciation and Amortization 167,000 170,000
Non-cash stock based compensation 169,000 70,000
Non-cash income tax expense 222,000 205,000
Total Add Backs 583,000 491,000
EBITDAS $1,031,000 $897,000

EBITDAS per share reconciles to earnings per share as follows:

Q1

2011

Q1

2010

Net Income per share $0.13 $0.10
Add back:
Interest 0.01 0.01
Depreciation and Amortization 0.04 0.04
Non-cash stock based compensation 0.05 0.02
Non-cash income tax expense 0.06 0.06
EBITDAS per share $0.29 $0.23

Gross profit margin for the quarter was 40.3%, up from 39.2% in the same quarter last year. In Q4 of fiscal 2010 the Company adjusted how it applied certain overhead, freight and warehousing costs, thereby increasing cost of goods sold and reducing SG&A costs.

Gross revenue for Q1 was $5,345,000, versus $5,556,000 last year. The small decline in revenues is principally due to colder than average weather conditions in the Company’s principal markets during Q1. Additionally, the Company discontinued distribution of a licensed beverage brand in January 2011.

Discounts, rebates and slotting fees were $340,000 in Q1, down from $419,000 in Q1 of the prior year. SG&A expenses were $1,208,000 in Q1 of fiscal 2011, versus $1,195,000 the previous year.

As at the end of Q1 the Company had cash and available credit totaling approximately $2,139,000. This is lower than the same time last year as the Company increased inventory in advance of the busy summer season higher than in the previous year and an account receivable by the Company was overdue at quarter end and that amount has now been fully collected.

During Q1 the Company repurchased an additional 98,813 shares of its common stock at an average price of $3.36 US per share, pursuant to its share repurchase program. As at May 31, 2011 the Company had outstanding 3,484,536 common shares. The Company believes that its common share price remains undervalued and will continue with its share repurchase program, which has $930,000 US remaining authorized under it.

Early Warning Notice

The Company’s Chairman and CEO, Ralph McRae, has acquired common shares and options to acquire common shares which together have increased his ownership or control over common shares and stock options of the Company to approximately 12.2% (on a partially diluted basis assuming exercise of the options held by Mr. McRae). As at this date, Mr. McRae owns or controls 176,616 common shares of the Company and 283,500 stock options that are vested. During the past year Mr. McRae acquired ownership of, or control over, options to purchase 265,000 common shares of the Company at $2.45 US per share, privately as an incentive under the Company’s compensation arrangements. 20,000 of those options were acquired by his spouse who provides sales and marketing services to the Company. Mr. McRae acquired ownership of an additional 20,220 common shares of the Company via open market transactions during the past year.

Of the securities owned or controlled by Mr. McRae, 91,000 common shares are held by BBI Holdings, Inc. and 4,040 common shares and options to purchase 26,170 common shares are held by his spouse. Mr. McRae is the sole shareholder and director of BBI Holdings, Inc.

Mr. McRae has no present intention to dispose of these securities, although he may in the future acquire or dispose of securities of the Company through the market, privately or otherwise, as circumstances and market conditions warrant.

A copy of the Early Warning Report being filed with the applicable securities regulators regarding the transactions will be available on SEDAR (www.sedar.com). A copy of the Early Warning Report and further information may also be obtained by contacting Marilyn Kerzner of the Company at (604) 685-5200 (x270).

AGM

The Company’s Annual General Meeting was held on June 29, 2011. All motions put to the Meeting, being those described in the Notice of Meeting and supporting materials mailed to shareholders, were passed with significantly greater percentages than required. James Corbett was elected as a director of the Company for an additional three year term.

About Leading Brands, Inc.

Leading Brands, Inc. (Nasdaq:LBIX) is North America’s only fully integrated healthy beverage company. Leading Brands creates, designs, bottles, distributes and markets its own proprietary premium beverage brands such as TrueBlue® Blueberry Juice, LiteBlue® Blueberry Juice, PureBlue®, PureRed®, PureBlack® and PureWhite® SuperJuices and BabyBlue® childrens’ superfruit blends via its unique Integrated Distribution System (IDS)™ which involves the Company finding the best and most cost-effective route to market. The Company strives to use the best natural ingredients hence its mantra: Better Ingredients – Better Brands.

The Leading Brands, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2681

Non-GAAP Measures

Any non-GAAP financial measures referenced in this release do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other issuers.

EBITDAS is a non-GAAP financial measure. EBITDAS is defined as net income (loss) before income taxes, interest expense, depreciation and amortization and stock-based compensation. EBITDAS should not be construed as a substitute for net income (as determined in accordance with GAAP) for the purpose of analyzing operating performance, as EBITDAS is not defined by GAAP. However, the Company regards EBITDAS as a complement to net income and income before taxes.

Comparative Figures

In the year ended February 28, 2011, the Company reclassified amounts from selling, general and administrative expenses to cost of sales and foreign exchange gain. The comparative amounts presented herein were reclassified to conform with the current year’s presentation.

Forward Looking Statements

Certain information contained in this press release includes forward-looking statements. Words such as “believe”, “expect,” “will,” or comparable terms, are intended to identify forward-looking statements concerning the Company’s expectations, beliefs, intentions, plans, objectives, future events or performance and other developments. All forward-looking statements included in this press release are based on information available to the Company on the date hereof. Such statements speak only as of the date hereof. Important factors that could cause actual results to differ materially from the Company’s estimations and projections are disclosed in the Company’s securities filings and include, but are not limited to, the following: general economic conditions, weather conditions, changing beverage consumption trends, pricing, availability of raw materials, economic uncertainties (including currency exchange rates), government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other risk factors described from time to time in securities reports filed by Leading Brands, Inc. For all such forward-looking statements, we claim the safe harbor for forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Better Ingredients | Better Brands™

©2011 Leading Brands, Inc.

This news release is available at www.LBIX.com

(table follows)

LEADING BRANDS, INC.
CONSOLIDATED STATEMENT OF INCOME
(UNAUDITED)
(EXPRESSED IN CANADIAN DOLLARS)

May 31

2011

May 31

2010

Gross revenue $5,345,469 $5,555,680
Less: Discounts, rebates and slotting fees (339,542) (419,298)
Net revenue 5,005,927 5,136,382
Expenses (Income)
Cost of sales 2,986,849 3,121,403
Selling, general and administration expenses 1,207,564 1,195,112
Amortization of property, plant and equipment 167,180 169,733
Change in fair value of derivative liability (54,820)
Interest expense 29,150 46,543
Loss on disposal of assets 8,719 1,172
Interest income (3,863) (2,286)
Foreign exchange gain (4,444) (8,833)
Total expenses 4,336,335 4,522,844
Income before income taxes 669,592 613,538
Income tax expense 221,531 205,314
Net income and comprehensive income $448,061 $408,224
Basic income per share $0.13 $0.10
Weighted average number of shares – basic 3,537,216 3,923,275
Diluted income per share $0.12 $0.10
Weighted average number of shares – diluted 3,701,371 3,923,275
CONTACT: Leading Brands, Inc.
         Tel: (604) 685-5200
         Email: info@LBIX.com
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eMagin (EMAN) Added to Russell Global and Russell 3000 Indexes

Jun. 28, 2011 (Business Wire) — eMagin Corporation (NYSE Amex: EMAN), a global leader in OLED microdisplays and virtual imaging technologies, announced today that it has been added to the Russell Global and Russell 3000 Indexes effective June 24, 2011. The new membership lists for Russell Indexes are available at http://www.russell.com/indexes/tools-resources/reconstitution.asp.

Annual reconstitution of Russell’s U.S. indexes captures and ranks the largest U.S. stocks as of the end of May by total market capitalization. Membership in the Russell Global Index, which remains in place for one year, means automatic inclusion in the appropriate large-cap, small cap, all-cap indexes as well as the applicable style, sector and country indexes. Membership in the Russell 3000, which also remains in place for one year, means automatic inclusion in the large cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.

“We are pleased with eMagin’s addition to the Russell Global and Russell 3000 indexes, which we believe will help increase the Company’s visibility within the investment community as we continue to grow our business and expand our shareholder base,” stated Andrew Sculley, President and Chief Executive Officer of eMagin. “We have an exciting and growing global business in the OLED microdisplay space with state-of-the-art technology that addresses the demanding needs of the military and commercial markets worldwide.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading US$3.9 trillion in institutional assets currently are benchmarked to them.

More information about Russell Indexes is available at http://www.russell.com/indexes.

About eMagin Corporation

A leader in OLED microdisplay technology and personal display systems, eMagin integrates high-resolution OLED microdisplays with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs. The company’s own Z800 3DVisor provides 3D stereovision and headtracking for PC gaming, training and simulation, immersion therapy, and other applications. More information about eMagin is available at www.emagin.com.

Forward-Looking Statements

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, including those regarding eMagin Corporation’s expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors, including those described in the Company’s most recent filings with the SEC. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. The business and operations of the Company are subject to substantial risks which increase the uncertainty inherent in forward-looking statements. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.

eMagin Corporation

Paul Campbell, 425-284-5220

pcampbell@emagin.com

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Westport (WPRT) Signs Agreement with General Motors to Research Advanced Natural Gas Engine Technology

VANCOUVER, June 28, 2011 /CNW/ – Westport Innovations Inc. (TSX:WPT/NASDAQ:WPRT), a global leader in alternative fuel, low-emissions transportation technologies, today announced that it has entered into an agreement with General Motors (NYSE:GM/TSX:GMM) to help develop advanced natural gas engine technology. Both General Motors and Westport will bring their extensive expertise to develop natural gas engine controls, emissions and performance strategies.

“We are excited to work with GM and invest in advanced natural gas technology for the automotive market,” said Ian Scott, President of Westport’s Light-Duty Division. “This technology offers the promises of a cleaner, lower cost fuel and reduced carbon footprint, while advancing the use of domestic energy. This agreement demonstrates Westport’s success as an advanced technology partner to global automotive manufacturers. Westport’s recent announcement regarding the planned acquisition of Emer S.p.A., of Italy, is an integral part of our strategy to provide partners, such as GM, with the most advanced integrated solutions.”

Westport announced the planned opening of a new Technical Center in Michigan. Westport’s personnel currently includes approximately 15 people in Farmington Hills, MI, and Westport plans to add more people and invest in facilities as demand grows for natural gas-powered, alternative-fuel vehicles.

“Natural gas is 97% North American sourced and much less expensive than gasoline or diesel fuels,” according to John Lapetz, Westport’s Light-Duty Division Managing Director, North American Vehicle Programs. “It also produces about 15 – 20% less CO2 than those fuels.”

To support OEM programs, Westport plans to add research and development facilities to develop technologies that enable vehicles to run on natural gas for business and government fleets, and personal use. Utilization of domestic energy, the creation of jobs and protection of the environment, are all part of Westport’s business objectives.

“Hybridization, lower-displacement with turbo charging, direct injection and other fuel-saving technologies now being applied to gasoline and diesel engines, can also be applied to natural gas fueled engines for even greater improvements in efficiency and fuel cost savings,” Lapetz said.

About Westport Innovations Inc.
Westport Innovations Inc. is a global leader in alternative fuel, low-emissions technologies that allow engines to operate on clean-burning fuels such as compressed natural gas (CNG), liquefied natural gas (LNG), hydrogen, and biofuels such as landfill gas. Our unique technologies reduce nitrogen oxides (NOx), particulate matter (PM), and greenhouse gas emissions (GHG). The Company focuses on three distinct categories or target markets – light-, medium-, and heavy-duty – through Westport business units or joint ventures. Westport’s Light-Duty Division is focused on light-duty automotive systems, components and engines, including 2.4L engines for industrial applications such as forklifts and oilfield service. Cummins Westport (CWI), a joint venture with Cummins, sells the world’s broadest range of low-emissions alternative fuel engines for commercial urban fleets such as buses, refuse trucks and vocational vehicles. Westport Heavy Duty (Westport HD), our proprietary development platform, is engaged in the engineering, design and marketing of natural gas-enabling technology for the heavy-duty diesel engine and truck market. To learn more about our business, visit our website or subscribe to our RSS feed at www.westport.com, or follow us on Twitter @WestportWPRT.

Note: This document contains forward-looking statements, including statements regarding the demand for our products, the future success of our business and technology strategies, investment, cash and capital requirements, intentions of partners and potential customers, the performance and competitiveness of our products and expansion of product coverage, future market opportunities, costs of natural gas versus other fuels, the addition of future personnel, investment in and addition of facilities and terms of future agreements. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance or achievements expressed in or implied by these forward looking statements. These risks and assumptions include risks and assumptions related to our revenue growth, operating results, industry and products, the general economy, conditions of and access to the capital and debt markets, governmental policies and regulation, technology innovations, fluctuations in foreign exchange rates, demand for natural gas powered vehicles, the acceptance of natural gas vehicles in fleet markets, the relaxation or waiver of fuel emission standards, the inability of fleets to access capital or government funding to purchase natural gas vehicles, the sufficiency of bio methane for use in our vehicles, the development of competing technologies as well as other risk factors and assumptions that may affect our actual results, performance or achievements or financial position discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward looking statements except as required by National Instrument 51-102.

Inquiries:
Darren Seed
Vice President, Investor Relations & Communications
Westport Innovations Inc.
Phone: 604-718-2046
Email: invest@westport.com

Tuesday, June 28th, 2011 Uncategorized Comments Off on Westport (WPRT) Signs Agreement with General Motors to Research Advanced Natural Gas Engine Technology

eFuture (EFUT) Files 2010 Annual Report on Form 20-F

BEIJING, June 28, 2011 (GLOBE NEWSWIRE) — eFuture Information Technology Inc. (Nasdaq:EFUT) (the “Company” or “eFuture”), a leading provider of software and services in China’s rapidly growing retail and consumer goods industries, today announced that the Company filed its annual report for the year ended December 31, 2010 on Form 20-F with the United States Securities and Exchange Commission (the “SEC”) on June 28, 2011.

The Form 20-F is available on the Company’s website via the following link: http://ir.e-future.com.cn/phoenix.zhtml?c=204768&p=irol-sec and is also available on the SEC website at http://www.sec.gov.

About eFuture Information Technology Inc.

eFuture Information Technology Inc. (Nasdaq:EFUT) is a leading provider of software and services in China’s rapidly growing retail and consumer goods industries. eFuture provides integrated software and services to manufacturers, distributors, wholesalers, logistics companies and retailers in China’s front-end supply chain (from factory to consumer) market, especially in the retail and fast moving consumer goods industries. For more information about eFuture, please visit http://www.e-future.com.cn.

CONTACT: Investor Contact:
         Troe Wen, Company Secretary
         eFuture Information Technology Inc.
         +86 10 5293 7699
         ir@e-future.com.cn

         Investor Relations (HK):
         Mahmoud Siddig
         Taylor Rafferty
         +852 3196 3712
         eFuture@Taylor-Rafferty.com

         Investor Relations (US):
         Kelly Gawlik
         Taylor Rafferty
         +1 212 889 4350
         eFuture@Taylor-Rafferty.com
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SGOCO Group, Ltd. (SGOC) to Report 2011 First Quarter Results on Tuesday, June 28th

Jun. 28, 2011 (Business Wire) — SGOCO Group, Ltd. (NASDAQ: SGOC), (the “Company” or “SGOCO”), a company focused on building its own brands and retail distribution network in the Chinese flat panel display market, including monitors, TVs, and application specific products, today announced that it will issue its financial results for the first quarter ended March 31, 2011 on Tuesday, June 28, 2011 after the close of the stock market. SGOCO’s management will host a conference call at 10:00 am ET on Wednesday, June 29, 2011 to discuss these results as well as recent corporate developments. After opening remarks, there will be a question and answer period. Interested parties may participate in the call by dialing (201) 493-6749. Please call in 10 minutes before the conference is scheduled to begin and ask for the SGOCO call. Questions may be asked during the live call, or alternatively, you may e-mail questions in advance to lcati@equityny.com.

The conference call will also be broadcast live over the Internet. To listen to the live call, please go to www.sgocogroup.com, click on the Investor Relations section, then to the Event Calendar where the conference call is posted. Please go to the website 15 minutes early to download and install any necessary audio software. If you are unable to listen live, the conference call will be archived and can be accessed for approximately 90 days. We suggest listeners use Microsoft Explorer as their browser.

About SGOCO Group, Ltd.

SGOCO Group, Ltd. is focused on building its own brands and retail distribution network in the flat panel display market, including monitors, TVs, and application specific products. With a network of hundreds of SGOCO Image branded retail partners, the Company is rapidly expanding in China’s tier 3 and tier 4 cities. By providing international standard quality products at competitive prices, the Company believes it is well positioned to take advantage of the emergence of China’s new consumer culture. For more information about SGOCO, please visit http://www.sgocogroup.com.

SGOCO Group, Ltd. (China)

Bill Krolicki, + 86-10-8587-0170

VP of Finance

bill@sgoco.com

or

The Equity Group Inc. (US)

Lena Cati, 212-836-9611

lcati@equityny.com

or

Linda Latman, 212-836-9609

llatman@equityny.com

Tuesday, June 28th, 2011 Uncategorized Comments Off on SGOCO Group, Ltd. (SGOC) to Report 2011 First Quarter Results on Tuesday, June 28th

Preferred Apartment Communities, Inc. (APTS) Confirms Quarterly Dividend

ATLANTA, June 27, 2011 /PRNewswire/ — Preferred Apartment Communities, Inc. (AMEX: APTS) today confirmed that its Board of Directors has declared a quarterly dividend on its common stock of $0.125 per share for the second quarter of 2011. The dividend is payable on July 15, 2011 to all common stockholders of record as of June 30, 2011.

(Logo: http://photos.prnewswire.com/prnh/20110420/HS87275LOGO )

About Preferred Apartment Communities, Inc.

Preferred Apartment Communities, Inc. is a Maryland corporation formed to acquire multifamily properties in select targeted markets throughout the United States. As a secondary strategy, we may acquire senior mortgage loans, subordinate loans or mezzanine debt secured by interests in multifamily properties, membership or partnership interests in multifamily properties and other multifamily related assets. PAC intends to elect and qualify as a real estate investment trust for U.S. federal income tax purposes, commencing with our tax year ending December 31, 2011.

Forward-Looking Statements

This press release may contain 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. As a general matter, forward-looking statements reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may be identified by the use of forward-looking terminology such as “may”, “will”, “expects”, “plans”, “estimates”, “anticipates”, “projects”, “intends”, “believes”, “outlook” and similar expressions.

The forward-looking statements contained in this press release are based upon our historical performance, current plans, estimates, expectations and other factors we believe are appropriate under the circumstances. The inclusion of this forward-looking information is inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: Our business and investment strategy; our projected operating results; availability of qualified personnel; local and national market conditions and trends in our industry; demand for and lease-up of apartment homes, supply of competitive housing products, and other economic conditions; availability of debt and/or equity financing and availability on favorable terms; changes in our asset values; our ability to maintain our qualification as a REIT for U.S. federal income tax purposes; estimates relating to our ability to make distributions to our stockholders in the future; and economic trends and economic recoveries.

Additional discussions of risks and uncertainties appear in our filings with the Securities and Exchange Commission, including our final prospectus filed with the Securities and Exchange Commission, under the heading “Risk Factors”. All information in this release is as of June 27, 2011. PAC does not undertake a duty to update forward-looking statements, including its projected operating results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. PAC may, in its discretion, provide information in future public announcements regarding its outlook that may be of interest to the investment community.

SOURCE Preferred Apartment Communities, Inc.

Monday, June 27th, 2011 Uncategorized Comments Off on Preferred Apartment Communities, Inc. (APTS) Confirms Quarterly Dividend

Frontier Airlines (RJET) Launches New Seasonal Service Between Branson and Both Austin and Phoenix

Jun. 27, 2011 (Business Wire) — Frontier Airlines, a wholly owned subsidiary of Republic Airways Holdings, Inc. (NASDAQ:RJET), today announced plans to add nonstop seasonal service between Branson, Mo. (BKG) and both Austin, Texas (AUS) and Phoenix, Ariz. (PHX) to its route map. The carrier will be the only airline offering nonstop service on these new routes.

Branson-Austin service will operate Monday, Wednesday and Friday from Sept. 16 through Dec. 14, 2011. Branson-Phoenix service will operate Saturdays from Sept. 17 through Dec. 10, 2011. Austin service will be provided on 50-seat Embraer 145 aircraft; Phoenix service will operate on 138-seat Airbus 319 aircraft, which feature available STRETCH seating with 5 inches of additional legroom and 24 channels of DirecTV® at every seat.

“Branson is a great family-friendly entertainment destination that our customers have really responded to,” said Daniel Shurz, vice president of strategy and planning for Frontier. “We’re delighted to have found the opportunity to add more routes into Branson and deliver our high-quality, affordable service.” Frontier already serves Denver and Milwaukee nonstop from Branson.

“Frontier’s new nonstop service to Austin and Phoenix is very exciting,” stated Jeff Bourk, executive director at the Branson Airport. “Frontier now offers four nonstop cities and we are pleased they continue the Branson Airport tradition of convenient air travel and low fares.”

Introductory fares begin at $89 each way for the new Branson-Austin nonstop route and $105 each way for the new Branson-Phoenix nonstop route. The fares are available at FrontierAirlines.com/introfares through Sept. 17, 2011 for travel through Oct. 31, 2011.

Following are schedules for the new routes:

Branson-Austin (Sept. 16 through Dec. 14, 2011)
Route Departs Arrives Frequency Aircraft
BKG-AUS 10:50 a.m. 12:25 p.m. Mon, Wed, Fri E145
AUS-BKG 1:25 p.m. 3:00 p.m. Mon, Wed, Fri E145
Branson-Phoenix (Sept. 17 through Dec. 10, 2011)
Route Departs Arrives Frequency Aircraft
PHX-BKG 7:40 a.m. 12:20 p.m. Sat A319
BKG-PHX 1:05 p.m. 2:00 p.m. Sat A319

For more information or to purchase a Frontier flight, visit FrontierAirlines.com.

Terms and Conditions for Branson-Austin and Branson-Phoenix Nonstop Introductory Fares

Tickets must be purchased by 11:59 p.m. Eastern time, September 17, 2011. Fares shown are each way for travel through October 31, 2011. A 14-day advance purchase is required. Seats are limited at these fares and certain flights and/or days of travel may be unavailable, especially during busy travel periods. Tickets are nonrefundable and nontransferable, but may be reissued for up to a $50 change fee (depending on the fare type purchased) as well as a possible fare increase to a non-promotional fare type. Previously purchased tickets may not be exchanged for these special fare tickets. Flight segment(s) must be cancelled prior to scheduled departure time or the ticket(s) and all monies will be forfeited.

Fares shown reflect purchase at FrontierAirlines.com. Tickets purchased on Frontier’s website must be paid for at the time the reservation is made. Depending on the fare type purchased, a $20 fee may be charged each way for the first and for the second pieces of checked baggage. Fares do not include passenger facility fees of up to $9 each way, the September 11th Security Fee of up to $5 each way, or fees of $3.70 per segment (one takeoff/one landing), and are subject to change without notice.

Some markets do not offer daily connections. Due to schedule changes, markets may not connect throughout the valid travel period. Branson-Austin nonstop seasonal service operates on Monday, Wednesday and Friday from September 16 through December 14, 2011. Branson-Phoenix nonstop seasonal service operates on Saturday from September 17 through December 10, 2011.

Flights are operated by Frontier Airlines, Republic Airlines or Chautauqua Airlines. Fares and schedules are subject to change without notice. Other restrictions may apply.

About Frontier Airlines

Frontier Airlines is a wholly owned subsidiary of Republic Airways Holdings, Inc. (NASDAQ: RJET), an airline holding company that also owns Chautauqua Airlines, Republic Airlines and Shuttle America. Currently in its 17th year of operations, Frontier employs more than 5,500 aviation professionals and operates more than 500 daily flights from its hubs at Denver International Airport, Milwaukee’s General Mitchell International Airport and Kansas City International Airport. Frontier offers service to more than 80 destinations in the United States, Mexico and Costa Rica.

For in-depth information on Frontier Airlines and to book tickets, visit FrontierAirlines.com.

Frontier Airlines

720-374-4560

media@flyfrontier.com

Monday, June 27th, 2011 Uncategorized Comments Off on Frontier Airlines (RJET) Launches New Seasonal Service Between Branson and Both Austin and Phoenix

GSV Capital (GSVC) Invests in Facebook

WOODSIDE, Calif., June 27, 2011 (GLOBE NEWSWIRE) — GSV Capital Corp. (Nasdaq:GSVC) announced that it has acquired 225,000 shares in social-networking company Facebook at an average price of $29.28 per share. The investment of $6,587,500 represents approximately 15% of GSV’s total portfolio.

“Facebook is a one-of-a-kind business which has created enormous network effects. With over 650 million people on its platform, or approximately 1/10 of the world’s population, Facebook has established itself as a next generation social communications platform,” said Michael T. Moe, GSV Capital’s CEO and founder.

GSV Capital’s mission is to identify and invest in the premier VC backed private companies in the marketplace today – at attractive valuations.

“GSV leveraged its network to quickly execute the transaction, entering the agreement to purchase shares of Facebook shortly after the close of our company’s initial public offering. This is a true testament to the strength of our team and a great example of how we intend to quickly seize opportunities on behalf of our investors,” Moe added.

This purchase of Facebook shares was subject to certain closing conditions, including a 30-day “Right of First Refusal” or ROFR, expiration.

GSV is presently in the final stages with a handful of private company investments that it anticipates acquiring within the next 30 days, subject to applicable closing conditions.

About GSV Capital Corp.

GSV Capital Corp. (Nasdaq:GSVC) is a publicly traded investment fund that gives individual investors access to high growth, venture backed private companies. GSV Capital is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. GSV is headquartered in Woodside, CA. For more information please visit http://gsvcap.com/

The GSV Capital Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9556

Forward-Looking Statements

Statements included herein may constitute “forward-looking statements,” which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. GSV Capital Corp. undertakes no duty to update any forward-looking statements made herein.

CONTACT: Investors:
         Alex Wellins
         (415) 217-5861
         alex@blueshirtgroup.com

         Media:
         Kim Hughes
         (415) 489-2188
         kim@blueshirtgroup.com
Monday, June 27th, 2011 Uncategorized Comments Off on GSV Capital (GSVC) Invests in Facebook

Servidyne (SERV) Agrees to Be Acquired by Scientific Conservation, Inc.

Jun. 27, 2011 (Business Wire) — SERVIDYNE, INC. (NASDAQ: SERV), an energy efficiency and demand response company, today announced that it has entered into an agreement to be acquired by Scientific Conservation Inc. (SCI) for $3.50 per share in an all-cash transaction.

The acquisition is subject to Servidyne, Inc. shareholder approvals and other customary closing conditions, and is currently expected to be completed in Servidyne’s second fiscal quarter ending October 31, 2011. Following the sale, Servidyne will no longer be a publicly-traded company, and its shares will cease to be traded on the NASDAQ Global Market.

“We are pleased that this agreement recognizes the value of Servidyne’s expertise, relationships, technologies and solutions, while providing our stockholders with an attractive cash premium for their investment,” said Alan R. Abrams, Chairman and CEO of Servidyne.

Servidyne and SCI have industry-leading engineering and technology expertise in energy efficiency, demand response, building maintenance management and building controls. The acquisition is expected to strengthen and enhance customer value.

Servidyne’s financial advisor is Ladenburg Thalmann & Co. Inc. and its legal advisor is Kilpatrick Townsend & Stockton LLP. SCI’s financial advisor is Roth Capital Partners, LLC and its legal advisor is Cooley LLP.

About Servidyne

Servidyne, Inc. is headquartered in Atlanta, Georgia, and operates globally through its wholly–owned subsidiaries. The Company provides comprehensive energy efficiency and demand response solutions, sustainability programs, and other products and services that significantly enhance the operating and financial performance of existing buildings. Servidyne enables its customers to cut energy consumption and realize immediate cost savings across their portfolios, while reducing greenhouse gas emissions and improving the comfort and satisfaction of their buildings’ occupants. The Company serves a broad range of markets in the United States and internationally, including owners and operators of corporate, commercial office, hospitality, gaming, retail, light industrial, distribution, healthcare, government, multi-family and education facilities, as well as energy services companies and public and investor-owned utilities. For more information, please visit www.servidyne.com or call 770-933-4200.

About Scientific Conservation Inc.

Scientific Conservation Inc., (SCI) a leading provider of energy efficiency solutions via predictive diagnostics and analytics for the $5 billion commercial building market. The company’s suite of energy management solutions uses the industry’s first software-as-a-service (SaaS) platform to help reduce annual energy spending by comparing predicted energy and system efficiencies against real-time operation. The company’s headquarters are in San Francisco, CA, with its technology center in Atlanta, GA. For more information, visit www.scientificconservation.com.

ADDITIONAL INFORMATION ON THE MERGER AND WHERE TO FIND IT

This press release does not constitute a solicitation of any vote or approval. In connection with the proposed merger, Servidyne, Inc. will file a proxy statement with the SEC, and deliver the definitive proxy statement to its shareholders. Servidyne shareholders are urged to read the proxy statement when it becomes available, as well as other documents filed with the SEC, because they will contain important information about the merger. The proxy statement and other documents Servidyne files with the SEC will be available free of charge at the SEC’s web site (www.sec.gov) or from Servidyne’s website (www.servidyne.com) under the tab “Investor Relations” and then under the heading “All SEC Filings”. Free copies of Servidyne’s filings also may be obtained by directing a request to investorrelations@servidyne.com.

Servidyne and its directors and executive officers may be deemed, under SEC rules, to be participants in the solicitation of proxies from Servidyne’s shareholders with respect to the proposed transaction. Information about the directors and executive officers of Servidyne is included in its definitive proxy statement for its 2010 annual meeting of shareholders filed with the SEC on July 28, 2010. More detailed information regarding the identity of potential participants, and their direct or indirect interests, by securities holdings or otherwise, will be set forth in the proxy statement and other documents to be filed with the SEC in connection with the proposed merger.

CAUTIONARY NOTE ABOUT FORWARD-LOOKING STATEMENTS

Certain statements contained or incorporated by reference in this press release, including without limitation, statements containing the words “believe,” “anticipate,” “estimate,” “expect,” “plan,” “project,” “forecast,” “should,” and words of similar import, are forward-looking statements within the meaning of the federal securities laws. Forward-looking statements included in this press release include, without limitation, statements regarding the expected closing of the proposed transaction, which projections are subject to the risk of nonsatisfaction of closing conditions, among other risks. Forward-looking statements involve known and unknown risks, uncertainties, and other matters which may cause the actual results, performance, or achievements of Servidyne to be materially different from any future results, performance, or uncertainties expressed or implied by such forward-looking statements. Factors affecting forward-looking statements in this release include, without limitation, the factors identified under the caption “Risk Factors” in the Company’s Current Report on Form 8-K filed with the SEC on June 2, 2011, as such factors may be updated from time to time by subsequent Servidyne SEC reports. Servidyne does not undertake to update these forward-looking statements.

Pietryla Enterprises/Public Relations

Christine Pietryla, (312) 612-0283

cpietryla@pietryla.com

Monday, June 27th, 2011 Uncategorized Comments Off on Servidyne (SERV) Agrees to Be Acquired by Scientific Conservation, Inc.

Scorpex, Inc. (SRPX)

Scorpex, Inc. is focused on becoming a leader of hazardous and toxic waste disposal in the Baja Mexico/California region where demand for waste management exceeds capacity. To date, the company has constructed a 10,000 square foot storage facility, water reservoir and septic system, sprinkler system, and security fence and is in the process of developing other necessary infrastructure on its 26-acre site.

Joseph Caywood is the founder of Scorpex International and has developed the project for several years. His efforts have included overseeing construction, land acquisition, site development, permit applications, governmental relations, and submitting focused studies and reports by experts in this industry. As a result of his efforts, Scorpex will have the only industrial waste processing facility of its kind in Baja Mexico.

The Mexican economy has experienced significant growth in the manufacturing sector over the past several years. This growth has been fuelled by the NAFTA treaty and investments from foreign national companies. The growth of both new and existing industries has dramatically increased the need for the disposal of industrial waste throughout Mexico, especially in the Baja California region.

The company’s future expansion plans include constructing other strategically placed, specially designed, storage, recycling and disposal facilities in various locations throughout Mexico. All facilities will be designed specifically for the purpose of processing the nation’s growing industrial waste, including materials that are classified as industrial, toxic, and hazardous.

Key Investment Highlights

  • Burgeoning Opportunities in Rapidly Growing Sector
  • Creating a Cleaner Environment for Surrounding Communities
  • Developing the Only Processing Facility of its Kind in Baja Mexico
  • Solid Business Strategy to Capitalize on Nationwide Demand


Monday, June 27th, 2011 Uncategorized Comments Off on Scorpex, Inc. (SRPX)

Merriman Capital (MERR) Announces Sponsorship of Radient Pharmaceuticals Corp (RXPC) on OTCQX

SAN FRANCISCO, June 23, 2011 /PRNewswire/ — Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (NASDAQ: MERR), today announced that it will serve as the Designated Advisor for Disclosure (DAD) for Radient Pharmaceuticals Corporation (OTCQX: RXPC) as it transitions from trading on the NYSE Amex and begins trading on OTCQX®.

(Logo: http://photos.prnewswire.com/prnh/20100914/SF64919LOGO)

Radient Pharmaceuticals is dedicated to saving lives and money for patients and global healthcare systems through the deployment of its FDA-cleared Onko-Sure® cancer test kit for colorectal cancer treatment and recurrence monitoring. After previously trading on NYSE Amex, the Company announced today that it is now trading on the OTC market’s highest tier, OTCQX.

In making this transition, Radient Pharmaceuticals joins a growing list of companies that have chosen to move off a U.S. exchange and onto OTCQX. In doing so, the Company and its investors will continue to benefit from a compliance-driven, full-service trading platform that is more efficient and cost-effective than a traditional exchange listing.

OTCQX distinguishes the best companies traded over-the-counter (OTC) from more than 9,000 securities traded on the OTCBB and OTC Link that are not required to meet any financial standards or undergo a qualitative review.

Spencer Grimes, Merriman Capital Managing Director, said: “We are very pleased to be partnering with Radient Pharmaceuticals on their transition to OTCQX. The decision to be quoted on the more cost effective and efficient OTCQX platform is in their shareholders’ best interest and will allow management to stay focused on their core business. I have no doubt that many more companies will be following Radient Pharmaceuticals from an exchange listing to QTCQX.”

Radient Pharmaceuticals CEO, Douglas MacLellan, commented: “In moving to OTCQX, we have chosen to continue to deliver liquidity, transparency and an efficient market for our shareholders, while reducing listing costs for our company, freeing up more time and resources to execute on our core business.”

About Merriman Capital, Inc.

Merriman Capital, Inc. is a full-service investment banking firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients and high net worth investors. Merriman Capital, Inc. is a wholly owned subsidiary of Merriman Holdings, Inc., which is listed on the NASDAQ Stock Market and trades under the symbol “MERR.”

Merriman specializes in four growth sector industries: Technology, Telecom, Consumer, Media & Internet and CleanTech Infrastructure. For more information, please go to http://www.merrimanco.com/. Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org and the Securities Investor Protection Corporation (SIPC) http://www.sipc.org/contact.cfm.

About Radient Pharmaceuticals Corporation

Headquartered in Tustin, California, Radient Pharmaceuticals Corporation is dedicated to saving lives and money for patients and global healthcare systems through the deployment of its FDA-cleared Onko-Sure® cancer test kit for colorectal cancer treatment and recurrence monitoring. The Company’s focus is on the discovery, development, and commercialization of unique high-value diagnostic tests that will help physicians answer important clinical questions related to early disease-state detection, treatment strategy, and the monitoring of disease progression or deterrence. To learn more about our company, products, and potentially life-saving cancer test, visit www.radient-pharma.com.

About OTCQX

The OTCQX marketplace is the premier tier of the U.S. OTC market. Investor-focused companies use the quality-controlled OTCQX platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. The innovative OTCQX platform offers companies and their shareholders a level of marketplace services formerly available only on a U.S. stock exchange. For more information and to view a full list of OTCQX companies, visit www.otcqx.com.

Note to Investors

This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 28, 2011. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” ” believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 28, 2011, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on “Investor Relations.”

SOURCE Merriman Holdings, Inc.

Thursday, June 23rd, 2011 Uncategorized Comments Off on Merriman Capital (MERR) Announces Sponsorship of Radient Pharmaceuticals Corp (RXPC) on OTCQX

SeraCare (SRLS) Acknowledges Receipt of Unsolicited Proposal from MSMB Capital

MILFORD, Mass., June 23, 2011 /PRNewswire/ — SeraCare Life Sciences, Inc. (NASDAQ: SRLS), a global life sciences company providing vital products and services to facilitate the discovery, development and production of human diagnostics and therapeutics, today acknowledged the receipt of an unsolicited offer from MSMB Capital proposing to purchase all of the outstanding shares of SeraCare for $4.25 per share. It is anticipated that the SeraCare Board of Directors will review the proposal in due course.

(Logo: http://photos.prnewswire.com/prnh/20110324/NE70714LOGO )

About SeraCare Life Sciences, Inc.:

SeraCare serves the global life sciences industry by providing vital products and services to facilitate the discovery, development and production of human diagnostics and therapeutics. The Company’s innovative portfolio includes diagnostic controls, plasma-derived reagents and molecular biomarkers, biobanking and contract research services. SeraCare’s quality systems, scientific expertise and state-of-the-art facilities support its customers in meeting the stringent requirements of the highly regulated life sciences industry.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about SeraCare Life Sciences, Inc. (“SeraCare” or the “Company”). All statements regarding our future financial position, results of operations, cash flows, dividends, financing plans, business strategy, budget, projected costs or cost savings, capital expenditures, competitive positions, growth opportunities for existing products or products under development, plans and objectives of management for future operations and markets for stock are forward-looking statements. In addition, forward-looking statements include statements in which we use words such as “expect,” “believe,” “anticipate,” “intend,” or similar expressions. Although we believe the expectations reflected in such forward-looking statements are based on reasonable assumptions, we cannot assure you that these assumptions will prove to have been correct, and actual results may differ materially from those reflected in the forward-looking statements. Factors that could cause our actual results to differ from the expectations reflected in the forward-looking statements in this press release include, but are not limited to, prolonged impairment of sales from changes in our sales organization, potential difficulties hiring sales personnel with the desired qualifications, revenue shortfalls arising from customer transitions to new products, unpredictability in large customer orders, failure to maintain proper inventory levels, availability of financing, reductions or terminations of government or other contracts, interruption in our supply of products or raw materials, actions of SeraCare’s competitors, changes in the regulatory environment, delays in new product introductions, lack of market acceptance of new products, decreased healthcare spending, reduced margins resulting from a shift in revenue towards services, absence or loss of acquisition opportunities to higher bidders, potential failure to complete any announced acquisition, and potential failure of any acquisition to produce expected revenues, profits or synergies. Many of these factors are beyond our ability to control or predict.

Contacts:
Gregory A. Gould
Chief Financial Officer
SeraCare Life Sciences, Inc.
508-244-6400

Sarah Cavanaugh
MacDougall Biomedical Communications
781-235-3060

SOURCE SeraCare Life Sciences, Inc.

Thursday, June 23rd, 2011 Uncategorized Comments Off on SeraCare (SRLS) Acknowledges Receipt of Unsolicited Proposal from MSMB Capital

Drilling Recommences at Almaden’s (AAU) Ixtaca Project, Mexico

VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 02/07/11 — Almaden Minerals Ltd. (“Almaden” or “the Company”) (TSX: AMM)(NYSE Amex: AAU) is pleased to announce that a two drill exploration and definition program is now underway at the Company’s wholly owned Ixtaca gold-silver project located in Puebla State, Mexico.

“Our goal for 2011 at Almaden is to outline the potential of the Ixtaca Zone through a minimum $C2MM drill program,” says Morgan Poliquin, Almaden President and CEO. “Drilling in 2011 is designed to explore the size potential of the Ixtaca zone, discovered by the Company in 2010. Drilling is also planned on other targets on the property that have the potential for vein mineralisation similar to that of the Ixtaca Zone.”

The Company plans to build on the exploration success of last year, during which the Ixtaca drilling discovery was made. Since the discovery hole announced in August 2010, the Company completed a total of 14 holes in 2010, all of which intersected mineralisation. The Ixtaca gold-silver epithermal vein system has now been traced over 300 meters along strike. Highlights of the drilling to date include high grade intersections of 4.10 m of 26 g/t Au, 936 g/t Ag (hole TU-10-1), 3.17 m of 10.5 g/t Au, 586 g/t Ag (hole TU-10-12) and 1.77 m of 49 g/t Au, 1392 g/t Ag (hole TU-10-11) as well as broad intersections such as 136.92 m of 1.5 g/t Au, 36 g/t Ag (hole TU-10-10), 45.01 m of 2.4 g/t Au, 157 g/t Ag (hole TU-10-12), 203.65 m of 1.0 g/t Au, 44 g/t Ag (Hole TU-10-11) and 126.22 m of 0.9 g/t Au, 62 g/t Ag (Hole TU-10-6). True widths cannot be calculated with confidence at this time. The Company will advance this 100% owned project with the drilling program announced today which will be expanded as necessary. This program will be funded and managed by the Company.

ABOUT ALMADEN

Almaden is a well-financed (no debt, approximately $C24 MM in working capital) mineral exploration company working in North America. The company has assembled mineral exploration projects, including Tuligtic, through its grass roots exploration efforts. While the properties are largely at early stages of development they represent exciting opportunities for the discovery of significant gold, silver and copper deposits as evidenced at Ixtaca. Currently six projects (Caldera, Caballo Blanco, Tropico, Nicoamen River and Matehuapil and Merit), are optioned to separate third parties who each have the right to acquire an interest in the respective project from Almaden through making certain payments and exploration expenditures. Four further projects are held in joint ventures. Almaden also holds a 2% NSR interest in 11 projects. Almaden’s business model is to find and acquire mineral properties and develop them by seeking option agreements with others who can acquire an interest in a project by making payments and exploration expenditures. Through this means the company has been able to expose its shareholders to discovery and capital gain without the funding and consequent share dilution that would be required if the company were to have developed these projects without a partner. The company intends to expand this business model, described by some as prospect generation, by more aggressively exploring several of its projects including the Ixtaca Zone.

Morgan J. Poliquin, Ph. D., P. Eng., the President and CEO of Almaden, and a qualified person (“QP”) under the meaning of National Instrument 43-101, reviewed the technical information in this news release. The analyses reported were carried out at ALS Chemex Laboratories of North Vancouver using industry standard aqua regia, ICP and fire assay techniques. Blanks, field duplicates and certified standards were inserted into the sample stream as part of Almaden’s quality assurance and control program which complies with National Instrument 43-101 requirements. Gold equivalent (“AuEq” or “Gold Eq.”) and silver equivalent (“AgEq” or “Silver Eq.”) values were calculated using silver to gold ratios of 50 to 1. Intervals that returned assays below detection were assigned zero values. Metallurgical recoveries and net smelter returns are assumed to be 100% for these calculations. Registered geologist Jim Lunbeck, a QP under the meaning of NI 43-101, will be the QP and project manager of Almaden’s 2011 Ixtaca program.

On Behalf of the Board of Directors

Morgan J. Poliquin, Ph.D., P.Eng., President, CEO and Director

Almaden Minerals Ltd.

Statements contained in this news release that are not historical facts are forward looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward -looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company’s filing with the Securities and Exchange Commission. Except for the statements of historical fact contained herein, certain information presented constitutes “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Such forward-looking statements, including but not limited to, those with respect to potential expansion of mineralization, potential size of mineralized zone, and size and timing of exploration and development programs, estimated project capital and other project costs and the timing of submission and receipt and availability of regulatory approvals involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Almaden to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to international operations and joint ventures, the actual results of current exploration activities, conclusions of economic evaluations, uncertainty in the estimation of mineral resources, changes in project parameters as plans continue to be refined, environmental risks and hazards, increased infrastructure and/or operating costs, labour and employment matters, and government regulation and permitting requirements as well as those factors discussed in the section entitled “Risk Factors” in Almaden’s Annual Information form and Almaden’s latest Form 20-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although Almaden has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Almaden disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required pursuant to applicable securities laws. Accordingly, readers should not place undue reliance on forward-looking statements.

The Toronto Stock Exchange and NYSE AMEX have not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release which has been prepared by management.

Contacts:
Almaden Minerals Ltd.
Morgan J. Poliquin, Ph.D., P.Eng.
President, CEO and Director
604.689.7644
604.689.7645 (FAX)
www.almadenminerals.com

Wednesday, June 22nd, 2011 Uncategorized Comments Off on Drilling Recommences at Almaden’s (AAU) Ixtaca Project, Mexico

China Nutrifruit Group Limited (CNGL) Announces Record Fourth Quarter and Fiscal Year 2011 Results

DAQING, Heilongjiang, China, June 22, 2011 /PRNewswire-Asia-FirstCall/ — China Nutrifruit Group Limited (NYSE Amex: CNGL) (“China Nutrifruit” or “the Company”), a leading producer of premium specialty fruit based products in China (“PRC”), today announced its financial results for the three months and fiscal year ended March 31, 2011.

Fourth Quarter Fiscal Year 2011 Highlights

  • Net sales increased 21.1% year-over-year to $32.0 million
  • Gross profit increased 34.2% year-over-year to $15.5 million, with gross margin of 48.3%
  • Operating earnings rose 44.8% year-over-year to $12.9 million, with operating margin of 40.3%
  • Net income increased 42.1% year-over-year to $9.5 million, or $0.23 per diluted share

Fiscal Year 2011 Highlights

  • Net sales were $87.0 million up 19.3% from $72.9 million in fiscal 2010
  • Gross profit increased 22.7% year-over-year to $40.8 million, with a gross margin of 46.9%
  • Operating earnings rose 29.6% year-over-year to $33.4 million, with operating margin of 38.4%
  • Net income was $24.7 million, or $0.62 per diluted share, compared to net income of $19.2 million, or $0.51 per diluted share, in fiscal 2010
  • Exceeded net income guidance of $22 million to $23 million

“In fiscal 2011, we achieved record financial performance and reported double digit growth in revenue and net income, which increased 19.3% and 28.5%, respectively. During the year, we successfully introduced our new seabuckthorn and blackcurrant concentrate juice and glazed fruit products, which accounted for over 8% of fiscal 2011 sales. We also expanded our customer base to supply our products internationally through our new distributors, Cargill Shanghai and Doehler Rizhao,” commented Mr. Changjun Yu, Chairman and CEO of China Nutrifruit. “Due to delay in beginning operations of our fruit and vegetable powder facility, we reported lower than estimated revenue for fiscal year 2011. However, as a result of enhanced margins, effective cost control measures and operating efficiency, we exceeded our net income guidance for fiscal year 2011. We expect continued strong financial performance in fiscal year 2012 largely driven by anticipated growth in demand for our products combined with launch of our new fruit and vegetable powder products and concentrate paste products.”

Fourth Quarter Fiscal Year 2011 Results

Net sales for the fourth quarter of fiscal year 2011 increased 21.1% to $32.0 million, from $26.4 million in the same quarter of fiscal 2010. Strong sales growth during the quarter was primarily due to increased sales volume of glazed fruit and concentrate pulp products, and increased per unit sales price of concentrate juice products primarily resulting from the increased cost of source fruits crab apple, blueberry and raspberry. In addition, the Company’s recently introduced seabuckthorn and blackcurrant glazed fruit and concentrate juice products and they contributed 10.9% of total sales during the quarter.

In the fourth quarter of fiscal year 2011, net sales from concentrated juice products, which accounted for 47.0% of total net sales, were $15.0 million, up 3.1% from $14.6 million, or 55.2% of total net sales, in the same quarter of fiscal year 2010. Net sales from glazed fruit products reached $10.7 million, contributing 33.3% of net sales, up 65.9% as compared to $6.4 million, or 24.3% of total net sales in the same period of prior year. Sales of concentrate pulp products and nectar were $4.1 million and $2.2 million, respectively, up 37.2% and 1.1% from $3.0 million and $2.2 million, respectively, in the same period in fiscal year 2010. The Company reported no revenue from the beverage segment as it discontinued beverage operation in March 2010, following its strategic decision to focus on its high-margin premium products.

Gross profit for the fourth quarter of fiscal year 2011 increased 34.2% to $15.5 million from $11.5 million for the same period a year ago. Gross margin was 48.3% for the fourth quarter of fiscal year 2011, up from 43.6% in the year ago period. The increase in gross margin was mainly due to a significant increase in gross margin of the Company’s concentrate pulp products. Gross margin on concentrate pulp products rose to 44.7% from 27.6% a year ago. The average selling price for pear concentrate pulp increased 55.5% in the fourth quarter of fiscal 2011 compared to the same period last fiscal year. Gross margin of glazed fruit products, nectar and concentrate juice were 54.9%, 66.0% and 42.1% compared to 44.7%, 68.8% and 43.3%, respectively, in the fourth quarter of fiscal year 2010.

In the fourth quarter of fiscal year 2011, selling, general, and administrative expenses remained stable at approximately $2.6 million. Selling expenses were $0.7 million, or 2.3% of net sales, down 22.8% compared to $1.0 million, or 3.6% of net sales, in the fourth quarter of fiscal year 2010. As a percentage of net sales, decline in selling expenses was mainly due to the Company’s well established relationships with existing distributors who continue to place repeat orders with higher volume, resulting in lower sales related travel expenses. In addition, the Company incurred no selling expenses related to beverage products in the fourth quarter of fiscal year 2011.

General and administrative expenses were $1.9 million, or 5.8% of net sales, up 7.8% from $1.7 million, or 6.5% of net sales a year ago.

Operating earnings in the fourth quarter of fiscal year 2011 were $12.9 million compared to $8.9 million in the comparable period last fiscal year. Operating margin for the quarter improved to 40.3%, from 33.5 % a year ago.

Provision for income taxes for the quarter was $3.4 million compared to $2.5 million a year ago.

Net income in the fourth quarter of fiscal year 2011 was $9.5 million, or $0.23 per diluted share, up 42.1% as compared to $6.7 million, or $0.17 per diluted share, a year ago. The calculation of diluted earnings per share for the fourth quarter of fiscal 2011 is based on 40.1 million weighted average shares outstanding compared to 40.0 million in the same quarter of fiscal 2010.

Fiscal Year 2011 Results

For the fiscal year ended March 31, 2011, net sales were $87.0 million, up 19.3% from $72.9 million a year ago. Net sales from concentrate juice products, which accounted for 48.0% of total net sales in fiscal 2011, were $41.7 million, up 20.3% from $34.7 million a year ago. Among the Company’s concentrated juice products, sales of crab apple and raspberry concentrated juice increased 25.8% and 21.2%, respectively. Net sales from glazed fruit, which accounted for 25.6% of net sales, were $22.3 million, up 34.1% from $16.6 million a year ago. Sales of concentrate pulp, which accounted for 15.5% of net sales, were $13.5 million, up 43.8% from $9.4 million a year ago. Sales of nectar, which accounted for 8.3% of net sales, were $7.2 million, up 3.9% from $7.0 million a year ago. The Company did not record sales from beverages since it ceased the production of beverages in March 2010 to strategically focus on its core high-margin products.

Gross profit increased 22.7% to $40.8 million from $33.3 million a year ago. Gross margin was 46.9% in fiscal year 2011 compared to 45.6% a year ago. Income from operations was $33.4 million, up 29.6% from $25.7 million last year. Net income for fiscal 2011 was $24.7 million, or $0.62 per diluted share, compared to $19.2 million, or $0.51 per diluted share in fiscal 2010. The calculation of diluted earnings per share for fiscal 2011 is based on 40.1 million weighted average shares outstanding compared to 38.1 million in fiscal 2010.

Financial Condition

As of March 31, 2011, China Nutrifruit had $43.5 million in cash and equivalents, $7.7 million in current liabilities with no long-term debt and working capital of $55.0 million. Shareholders’ equity was $93.3 million as of March 31, 2011, up from $65.8 million as of March 31, 2010.

The Company generated $25.8 million net cash from operating activities, up from $21.7 million generated in fiscal year 2010. The Company used $16.4 million in prepayment for purchase of land use right, property and equipment for the construction of the Company’s new fruit and vegetable powder facility in Daqing, which is scheduled to begin operations in July2011.

Business Outlook

In fiscal 2012, China Nutrifruit plans to further expand production capacity, diversify its product portfolio and increase market penetration. The Company will launch its new fruit and vegetable powder products, concentrate paste products, cherry tomato glazed fruits and golden berry dried fruits in calendar year 2011.

The Company is currently constructing a new concentrate paste production facility in Zhaoyuan, Heilongjiang Province and plans to begin trial production in July 2011. This new multi-purpose concentrate paste production facility will have an annual production capacity of 9,600 tons and will catering to the raw material requirements of the Company’s new fruit and vegetable powder production facility and will also be sold to existing distributors.

China Nutrifruit is currently making technological upgrades to its glazed fruit production line in Daqing and concentrate juice production line in Mudanjiang. The Company expects to complete the upgrade process by July 2011 in advance of its production season. As part of the technological upgrade process, the Company is installing additional processing equipment at its glazed fruit production line in Daqing, which will enable production of its new golden berry dried fruit products. In addition, following technological and maintenance upgrades, the Company’s concentrate juice production capacity in Mudanjiang will expand to 9,000 tons annually, up 50% from its current annual capacity of 6,000 tons per year.

For fiscal year 2012, the Company expects to generate revenue of approximately $110 million to $113 million and net income of approximately $29 million to $30 million,

“Looking into fiscal 2012, we continue to see strong demand for our high quality products backed by strong customer loyalty and an increasingly health-conscious environment,” said Mr. Yu. “We are on track to commence production of our fruit and vegetable powder products in July 2011. In addition, we are excited about our strong product pipeline, including cherry tomato glazed fruit, dried fruit products and concentrate paste products, which will be supported by our capacity expansion plans. We will be leveraging our existing nationwide sales and distribution network throughout 18 provinces in China to market our new products and hold a positive outlook. With our proven business model, strong execution capability, new product initiatives, and capacity expansion, we believe we are well-positioned to achieve another year of record financial performance in fiscal 2012.”

Conference Call Information

Management will conduct a conference call at 9:00 a.m. Eastern Time on Wednesday, June 22, 2011, to discuss financial results for the fourth quarter and fiscal year 2011, ended March 31, 2011.

To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: (866) 759-2078. International callers should dial +1-706-643-0585. The conference ID number for the call is 75696956.

If you are unable to participate in the call at this time, a replay will be available on Wednesday, June 22, 2011 at 12:00 noon Eastern Time, through Wednesday, July 6, 2011. To access the replay, dial 800-642-1687. International callers should dial +1-706-645-9291. The conference ID number for the replay is 75696956.

About China Nutrifruit Group Limited

Through its subsidiaries Daqing Longheda Food Company Limited and Daqing Senyang Fruit and Vegetable Food Technology Company Limited, China Nutrifruit, is engaged in developing, processing, marketing and distributing a variety of food products processed primarily from premium specialty fruits grown in Northeast China, including golden berry, crab apple, blueberry, seabuckthorn, blackcurrant and raspberry. Its processing facility possesses ISO9001 and HACCP series qualifications. Currently, the Company has established an extensive nationwide sales and distribution network throughout 18 provinces in China. For more information, please visit http://www.chinanutrifruit.com .

Forward-Looking Statements

This press release contains 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 (the “Exchange Act””). Such statements include, among others, those concerning our new products, our new facility and capacity expansion, and its expected impact on the Company’s business and financial performance, our expectations regarding the market for our existing products and new products, our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words “believe,” “expect,” “anticipate,” “project,” “targets,” “optimistic,” “intend,” “aim,” “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors mentioned in the “Risk Factors” section of our Annual Report on Form 10-K for the year ended March 31, 2011, and other risks and uncertainties mentioned in our other reports filed with the Securities and Exchange Commission. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.

Company Contact:

Investor Relations Contact:

Mr. Colman Cheng, Chief Financial Officer

Mr. Crocker Coulson, President

China Nutrifruit Group Limited

CCG Investor Relations

Tel+852 9039 8111

Tel: +1-646-213-1915 (NY office)

Email: zsj@chinanutrifruit.com

Email: crocker.coulson@ccgir.com

Website: www.chinanutrifruit.com

Website: www.ccgirasia.com

Linda Salo, Account Manager

Email: linda.salo@ccgir.com

Tel: +1- 646-922-0894 (New York office)

— Financial Tables Follow —

CHINA NUTRIFRUIT GROUP LIMITED AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

AS OF MARCH 31,

2011

2010

Net sales

$86,953,888

$72,916,955

Cost of sales

(46,136,600)

(39,655,534)

Gross profit

40,817,288

33,261,421

Selling expenses

(3,100,084)

(3,547,236)

General and administrative expenses

(4,354,005)

(3,976,627)

Operating earnings

33,363,199

25,737,558

Other income (expenses)

Interest expense

(4,912)

Other income

85,313

70,233

Gain on disposal of property and equipment

290,407

Total other income

80,401

360,640

Earnings before income taxes

33,443,600

26,098,198

Provision for income taxes

(8,700,366)

(6,849,438)

Net earnings

24,743,234

19,248,760

Other comprehensive income

Foreign currency translation

3,510,717

15,039

Total comprehensive income

$28,253,951

$19,263,799

Earnings per share

Basic

$0.66

$0.52

Diluted

$0.62

$0.51

Weighted average number of common stock outstanding

Basic

36,736,834

36,153,554

Diluted

40,056,599

38,050,549

CHINA NUTRIFRUIT GROUP LIMITED AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

AS OF MARCH 31,

2011

2010

ASSETS

Current assets:

Cash and equivalents

$ 43,542,075

$ 35,994,443

Proceeds from private placement held in escrow account

931,630

Trade receivables, net of allowance

12,476,652

11,047,846

Inventory, net

6,419,152

4,179,910

Prepayments and deposits

264,878

114,732

Other current assets

1,527

1,464

Total current assets

62,704,284

52,270,025

Non-current assets:

Property and equipment, net

20,312,005

17,066,907

Prepayments and deposits

10,983,404

Construction in progress

5,915,395

Deferred tax assets

909,879

1,068,878

Land use rights, net

188,199

185,686

Total assets

$ 101,013,166

$ 70,591,496

LIABILITIES AND SHAREHOLDERS equity

Current liabilities:

Other payables and accrued expenses

$ 3,312,525

$ 2,379,246

Due to a director

946,550

Trade payables

130,276

87,954

Income taxes payable

3,351,631

2,296,513

Total current liabilities

7,740,982

4,763,713

Commitments and Contingencies

Shareholders equity:

Preferred stock

331

365

Common stock

36,916

36,573

Additional paid-in-capital

36,492,566

36,492,875

Statutory reserves – restricted

6,850,422

4,564,345

Accumulated other comprehensive income

3,951,431

440,714

Retained earnings

45,940,518

24,292,911

TOTAL SHAREHOLDERS EQUITY

93,272,184

65,827,783

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY

$ 101,013,166

$ 70,591,496

CHINA NUTRIFRUIT GROUP LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED MARCH 31,

2011

2010

Cash flows from operating activities:

Net earnings

$ 24,743,234

$ 19,248,760

Adjustments to reconcile net earnings to net cash provided by operating activities

Depreciation and amortization

2,374,751

1,593,811

Gain on disposal of property and equipment

(290,407)

Deferred income taxes

158,165

337,936

Share-based payments

117,000

Changes in operating assets and liabilities:

Trade receivables

(1,222,114)

391,901

Inventories

(1,840,967)

(481,732)

Prepayments and deposits

(353,118)

364,046

Other current assets

(15)

1,463

Trade payables

32,580

(172,675)

Other payables and accrued expenses

895,817

(319,909)

Income taxes payable

1,001,321

877,429

Net cash provided by operating activities

25,789,654

21,667,623

Cash flows from investing activities:

Purchases of property and equipment

(4,333,519)

(2,738,855)

Addition of construction in progress

(5,808,400)

Prepayment for purchase of land use right, property and equipment

(10,543,839)

Proceeds from disposal of property and equipment

1,038,273

Net cash used in investing activities

(20,685,758)

(1,700,582)

Cash flows from financing activities:

Proceeds from private placement held in escrow account

(931,630)

Proceeds from borrowings

15,217,689

Repayment of borrowings

(15,217,689)

Amount due to a director

943,497

Proceeds from private placement

13,309,000

Release of proceeds from private placement held in escrow account

931,630

Dividend paid

(809,550)

Cost of raising capital

(1,094,279)

Net cash provided by financing activities

1,065,577

11,283,091

Increase in cash and equivalents

6,169,473

31,250,132

Effect of exchange rate on cash and equivalents

1,378,159

(24,231)

Cash and equivalents at beginning of year

35,994,443

4,768,542

Cash and equivalents at end of year

$ 43,542,075

$ 35,994,443

Supplemental disclosure of cash flows information:

Cash paid for:

Interest

$ 4,912

$ –

Income taxes

$ 7,574,018

$ 5,634,883

Supplemental disclosure of non-cash information:

Issuance of common stock by conversion of preferred stock

$ 343

$ 117,000

Issuance of warrant

$ –

$ 367,155

Capital contribution

$ –

$ 7,414,995

Wednesday, June 22nd, 2011 Uncategorized Comments Off on China Nutrifruit Group Limited (CNGL) Announces Record Fourth Quarter and Fiscal Year 2011 Results

Achillion Pharmaceuticals (ACHN) Announces Pricing of Public Offering of Common Stock

NEW HAVEN, Conn., June 22, 2011 (GLOBE NEWSWIRE) — Achillion Pharmaceuticals, Inc. (Nasdaq:ACHN) announced today the pricing of an underwritten public offering of 9,600,000 shares of its common stock at a price to the public of $5.90 per share. The net proceeds to Achillion from the sale of the shares, after deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $52.9 million. The offering is expected to close on June 27, 2011, subject to customary closing conditions. BofA Merrill Lynch and Leerink Swann LLC are acting as joint book-running managers for the offering.

Achillion has granted the underwriters a 30-day option to purchase up to an additional 1,440,000 shares of its common stock to cover overallotments, if any. The expected net proceeds to Achillion referenced above do not include any net proceeds that Achillion would receive if the underwriters exercise such overallotment option.

The offering is being made by Achillion pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (SEC). A prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the prospectus supplement, when available, and the accompanying prospectus relating to this offering may be obtained from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department or email dg.prospectus_requests@baml.com or from Leerink Swann LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, telephone number (800) 808-7525, Ext. 4814.

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

About Achillion Pharmaceuticals, Inc.

Achillion is an innovative pharmaceutical company dedicated to bringing important new treatments to patients with infectious disease.

Forward-Looking Statements

This press release includes “forward-looking statements” made under the provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements, other than statements of historical fact, regarding, without limitation, the completion, timing and size of Achillion’s proposed public offering. In some cases, words such as “will,” “expect” or other comparable words identify forward-looking statements. Actual results, performance or experience may differ materially from those expressed or implied by any forward-looking statement as a result of various important factors, including without limitation risks and uncertainties relating to Achillion’s business and financial condition, general market conditions and the satisfaction of customary closing conditions associated with the proposed public offering. Risks and uncertainties that Achillion faces are described in greater detail under the heading “Risk Factors” in its Form 8-K filed on June 20, 2011 and in other filings that it makes with the SEC. As a result of the risks and uncertainties, the results or events indicated by any forward-looking statement may not occur. Achillion cautions you not to place undue reliance on any forward-looking statement.

In addition, any forward-looking statement in this press release represents Achillion’s views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Achillion disclaims any obligation to update any forward-looking statement, except as required by applicable law.

CONTACT: Corporate Contact:
         Glenn Schulman
         Achillion Pharmaceuticals, Inc.
         Tel. (203) 752-5510
         gschulman@achillion.com

         Investor Contact:
         Mary Kay Fenton
         Achillion Pharmaceuticals, Inc.
         Tel. (203) 624-7000
         mfenton@achillion.com

         Media Contact:
         Christin Culotta Miller
         Ogilvy PR
         Tel. (646) 229-5178
         christin.miller@ogilvypr.com
Wednesday, June 22nd, 2011 Uncategorized Comments Off on Achillion Pharmaceuticals (ACHN) Announces Pricing of Public Offering of Common Stock

AeroVironment, Inc. (AVAV) Announces Fiscal 2011 Fourth Quarter and Fiscal Year End Results

Jun. 21, 2011 (Business Wire) — AeroVironment, Inc. (NASDAQ: AVAV) today reported financial results for its fourth quarter and fiscal year ending April 30, 2011.

“With record fourth quarter revenue of $106.1 million, fiscal 2011 revenue grew 17% to $292.5 million, exceeding our guidance, and diluted earnings per share increased 24% to $1.17,” said Tim Conver, AeroVironment chairman and chief executive officer. “Electric vehicle charging solutions and digital Puma unmanned aircraft systems successfully transitioned from development to production programs with attractive long-term growth prospects, while other innovative developments progressed toward customer adoption. The effective performance of our team, the successful transition of great ideas to meaningful market adoption with first mover advantage and the strong demand for our solutions continue to position us well for long-term growth.”

FISCAL 2011 FOURTH QUARTER RESULTS

Revenue for the fourth quarter of fiscal 2011 was $106.1 million, up 7% over fourth quarter fiscal 2010 revenue of $99.4 million. The increase in revenue resulted from increased sales in our Efficient Energy Systems (EES) segment of $7.8 million offset by decreased sales in our Unmanned Aircraft Systems (UAS) segment of $1.1 million.

Income from operations for the fourth quarter of fiscal 2011 was $25.2 million, up 7% from fourth quarter fiscal 2010 income from operations of $23.5 million. The increase in income from operations resulted from higher gross margin of $6.2 million offset by higher selling, general and administrative (SG&A) expense of $1.2 million and higher research and development (R&D) expense of $3.3 million.

Net income for the fourth quarter of fiscal 2011 was $17.6 million, up 13% from fourth quarter fiscal 2010 net income of $15.6 million.

Earnings per diluted share for the fourth quarter of fiscal 2011 were $0.79, up 11% from fourth quarter fiscal 2010 earnings per diluted share of $0.71.

FISCAL 2011 FULL YEAR RESULTS

Revenue for fiscal year 2011 was $292.5 million, up 17% over fiscal year 2010 revenue of $249.5 million. The increase in revenue resulted from increased sales in our UAS segment of $25.6 million and EES segment of $17.4 million.

Income from operations for fiscal year 2011 was $34.0 million, up 14% from fiscal year 2010 income from operations of $29.9 million. The increase in income from operations resulted from higher gross margin of $20.3 million offset by higher SG&A expense of $5.0 million and higher R&D expense of $11.3 million.

Net income for fiscal year 2011 was $25.9 million, up 25% from fiscal year 2010 net income of $20.7 million.

Earnings per diluted share for fiscal year 2011 were $1.17, up 24% from fiscal 2010 earnings per diluted share of $0.94.

BACKLOG

As of April 30, 2011, funded backlog (unfilled firm orders for which funding is currently appropriated to us under a customer contract) was $82.9 million compared to $72.3 million as of April 30, 2010.

FISCAL 2012 — OUTLOOK FOR THE FULL YEAR

For fiscal year 2012, the Company expects to generate revenue of $321 million to $336 million, and earnings per share of $1.28 to $1.35 on a fully diluted basis.

The foregoing estimates are forward looking and reflect management’s view of current and future market conditions, including certain assumptions with respect to our ability to obtain and retain government contracts, changes in the demand for our products and services, activities of competitors and changes in the regulatory environment, and general economic and business conditions in the United States and elsewhere in the world. Investors are reminded that actual results may differ materially from these estimates.

CONFERENCE CALL

In conjunction with this release, AeroVironment, Inc. will host a conference call today, Tuesday, June 21, 2011, at 1:30 pm Pacific Time that will be broadcast live over the Internet. Timothy E. Conver, chairman and chief executive officer, Jikun Kim, chief financial officer, and Steven A. Gitlin, vice president of investor relations, will host the call.

4:30 PM ET

3:30 PM CT

2:30 PM MT

1:30 PM PT

Investors may dial into the call at (877) 561-2749 (U.S.) or (678) 809-1029 (international) five to ten minutes prior to the start time to allow for registration.

Investors with Internet access may listen to the live audio webcast via the “Investors” section of the AeroVironment, Inc. website, http://investor.avinc.com. Please allow 15 minutes prior to the call to download and install any necessary audio software. An audio replay of the event will be archived on the Investor Relations page of the Company’s website, at http://investor.avinc.com.

An audio replay of the call will be available on Tuesday, June 21, 2011, at approximately 4:30 p.m. Pacific Time through Tuesday, June 28, at 9:00 p.m. Pacific Time. Dial 800-642-1687 and enter the passcode 71377219. International callers should dial 706-645-9291 and enter the same passcode number to access the digital replay.

ABOUT AEROVIRONMENT, INC.

AeroVironment is a technology solutions provider that designs, develops, produces and supports an advanced portfolio of Unmanned Aircraft Systems (UAS) and electric transportation solutions. Agencies of the U.S. Department of Defense and allied military services use the company’s battery-powered, hand-launched unmanned aircraft systems extensively to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance and communication. AeroVironment’s electric transportation solutions include a comprehensive suite of electric vehicle (EV) charging systems and installation services for consumers, automakers, utilities and government agencies, power cycling and test systems for EV developers and industrial electric vehicle charging systems for commercial fleets. More information about AeroVironment is available at www.avinc.com.

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “project,” “plan,” or words or phrases with similar meaning. Forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, reliance on sales to the U.S. government; changes in the supply and/or demand and/or prices for our products; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; changes in significant operating expenses, including components and raw materials; failure to develop new products; changes in the regulatory environment; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

AeroVironment, Inc.
Consolidated Statements of Income
(In thousands except share and per share data)
Three Months Ended Twelve Months Ended
April 30, April 30, April 30, April 30,
2011 2010 2011 2010
Revenue:
Product sales $ 47,014 $ 50,552 $ 137,724 $ 103,268
Contract services 59,046 48,798 154,779 146,250
106,060 99,350 292,503 249,518
Cost of sales:
Product sales 19,642 27,470 74,843 59,266
Contract services 37,207 28,899 100,509 93,426
56,849 56,369 175,352 152,692
Gross margin 49,211 42,981 117,151 96,826
Selling, general and administrative 12,797 11,601 47,431 42,429
Research and development 11,236 7,894 35,769 24,510
Income from operations 25,178 23,486 33,951 29,887
Other income:
Interest income 62 48 277 195
Income before income taxes 25,240 23,534 34,228 30,082
Provision for income taxes 7,604 7,962 8,319 9,366
Net income $ 17,636 $ 15,572 $ 25,909 $ 20,716
Earnings per share data:
Basic $ 0.81 $ 0.72 $ 1.20 $ 0.97
Diluted $ 0.79 $ 0.71 $ 1.17 $ 0.94
Weighted average shares outstanding:
Basic 21,659,960 21,510,832 21,591,333 21,391,795
Diluted 22,190,196 22,012,847 22,081,266 21,977,364
AeroVironment, Inc.
Selected Consolidated Balance Sheet Information
(In thousands except share data)
April 30,

2011

April 30,2010
Cash and cash equivalents $ 62,041 $ 28,665
Investments 133,114 142,285
Accounts receivable, net 44,376 38,645
Unbilled receivables and retentions 21,966 18,710
Inventories, net 38,137 20,928
Total assets 331,747 281,971
Stockholders’ equity 263,468 233,420
Shares issued and outstanding 21,949,884 21,732,413
Reportable Segment Results are as Follows (Unaudited):
(In thousands)
Three Months Ended Twelve Months Ended
April 30, April 30, April 30, April 30,
2011 2010 2011 2010
Revenue:
UAS $ 90,973 $ 92,090 $ 249,769 $ 224,179
EES 15,087 7,260 42,734 25,339
Total 106,060 99,350 292,503 249,518
Gross margin:
UAS 42,707 39,231 99,513 85,157
EES 6,504 3,750 17,638 11,669
Total 49,211 42,981 117,151 96,826
Selling, general and administrative 12,797 11,601 47,431 42,429
Research and development 11,236 7,894 35,769 24,510
Income from operations 25,178 23,486 33,951 29,887
Interest income 62 48 277 195
Income before income taxes $ 25,240 $ 23,534 $ 34,228 $ 30,082

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AeroVironment, Inc.

Steven Gitlin, +1 626-357-9983

ir@avinc.com

Heather Rowe, +1 626-357-9983

ir@avinc.com

Wednesday, June 22nd, 2011 Uncategorized Comments Off on AeroVironment, Inc. (AVAV) Announces Fiscal 2011 Fourth Quarter and Fiscal Year End Results

Gold Resource Corporation (GORO) Acquires Sixth Property

COLORADO SPRINGS, CO — (Marketwire) — 06/20/11 — Gold Resource Corporation (GORO) (NYSE Amex: GORO) is pleased to announce having significantly increased its land position adding a sixth potential high-grade property to the Company’s Oaxaca Mining Unit. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico.

The Company staked several new claims including El Chamizo consisting of 26,386 hectares (101 square miles) connecting the Company’s Alta Gracia property to its El Rey property effectively consolidating approximately 48 kilometers (29 miles) along strike of the important north 70 west regional structural corridor. With this new acquisition, Gold Resource Corporation has 100% interest in 60,998 hectares (235 square miles) located in Oaxaca, Mexico. The combined claims represent the Company’s sixth property added to its Oaxaca Mining Unit (see map), now consisting of El Aguila, El Rey, Alta Gracia, Las Margaritas, El Chamizo and Solaga. In addition, the Company staked a 2000 hectare (7 square miles) claim located on the southeast end of the corridor which adds to and increases the size of the Aguila Project.

Gold Resource Corporation’s President, Mr. Jason Reid, stated, “After much work and patience, we have methodically consolidated a dominant land position now connecting five properties on what we believe will become one of the most important mineralized structural corridors in southern Mexico.”

“On the southeast end of the corridor is our Aguila Project, home to our largest high-grade polymetallic deposit discovered to date, La Arista. On the corridor’s northwest end is the Company’s El Rey property, a high-grade gold vein system established by our limited drilling in 2008. In the middle of the corridor is the Alta Gracia property, previously mined on a small scale in the 1970s, where a recent Company drill program commenced testing many high-grade targets. The new property Chamizo, located between Alta Gracia and El Rey, is a major increase to our land holdings along what we believe is a highly mineralized corridor,” stated Mr. Reid.

Mr. Reid continued, “This acquisition is in line with our long term objective of having multiple high-grade properties feeding ore to the Aguila mill. Our approach should keep capital expenditures on developing additional properties to a minimum, deliver a pipeline of projects for future growth and provide for longevity of operations.”

About GRC:
Gold Resource Corporation is a mining company focused on production and pursuing development of gold and silver projects that feature low operating costs and produce high returns on capital. The Company has 100% interest in six potential high-grade gold and silver properties in Mexico’s southern state of Oaxaca. The Company has 52,998,303 shares outstanding, no warrants and no debt. For more information, please visit GRC’s website, located at www.Goldresourcecorp.com and read the Company’s 10-K for an understanding of the risk factors involved.

This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words “plan,” “target,” “anticipate,” “believe,” “estimate,” “intend” and “expect” and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation’s strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company’s actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the company’s 10-K filed with the Securities and Exchange Commission.

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Contact:
Greg Patterson
Corporate Development
303-320-7708

Monday, June 20th, 2011 Uncategorized Comments Off on Gold Resource Corporation (GORO) Acquires Sixth Property