Archive for August, 2011

Zhone Technologies (ZHNE) Assists SRT Communications with Disaster Relief Communication Network

Zhone Technologies, Inc. (NASDAQ:ZHNE), a global leader in FTTx network access solutions, today announced its influential partnership with SRT Communications (SRT) to use Zhone’s industry-leading MXK™ multi-service access node (MSAN) during and after the disaster relief in Minot, North Dakota, an event estimated to cost more than one billion dollars. Through carefully constructed plans and prompt reactions in time of need, SRT and Zhone restored phone and Internet service to nearly 2,100 non-evacuated customers who were served out of flooded service buildings.

“Communications are critical in times of disaster, and Zhone worked with SRT quickly and efficiently to coordinate a new MXK deployment to restore service for the 3,000 Minot area customers affected,” noted Shawn Grosz, Director of Network Technology, SRT Communications. “SRT has also begun the reconstruction of damaged permanent structures, which will utilize the MXK offering for consistent communication. SRT is grateful for Zhone’s quick response and exceptional customer service in this time of need for our community.”

SRT offers regular updates on the progress of the relief effort through their website: www.srt.com. Customers can check in on restoration status and see visual proof of progress through the provided updates and photos; the page is a testament to the ongoing endeavor of communication service restoration. In uncertain times of high stress, more information is preferred, and SRT has worked hard with Zhone to ensure all parties involved have the ability to communicate and stay up-to-date with the latest developments. The company also provides a service area map of affected areas: http://www.srt.com/onlinestore/resources/pdfs/map.pdf.

“SRT’s dedication to its customers in the Minot area during the disaster sets a great example to the communications industry,” said Brian Caskey, Chief Marketing Officer, Zhone. “Minot was hit hard by the event and we will continue to support SRT in its endeavor to rebuild community – and communication – through our MXK technology and consistent planning.”

SRT serves 48,000 customers, as the largest telephone cooperative in North Dakota, including consumers, businesses and governmental agencies; it has remained a regional leader in deploying enhanced telecommunications services for the past 60 years. SRT currently provides broadband and dial-up Internet services, wireless service, cable TV and IPTV as well as traditional telephone, leased line, voicemail and long-distance voice services. After a year-long trial with Zhone, SRT chose to fully utilize the MXK for its new Microsoft Mediaroom-based video offering (SRTVision) to achieve its expansion plans to reach the 5,800 unserved subscribers in its coverage area. SRT is also one of Zhone’s first customers, having deployed the MALC™ MSAN solution almost a decade ago when SRT was seeking an extendable and cost-effective solution to deliver broadband services to its customers.

Zhone has deployed more than 2,000 of its fully redundant, carrier-grade all-IP MXK platforms with more than 150 service providers in over 40 countries. Featuring industry-leading density, scalability and switching capacity, the MXK is the industry’s first terabit access concentrator and provides non-blocking capacity of up to 3,600 100 Mbps GPON subscribers or 360 1G Active Ethernet subscribers.

For more information about Zhone’s MXK solution or to learn more about its various applications, including mobile backhaul, please visit the Zhone FiberHome™ or Zhone FiberCell™ portfolios on the Zhone website. For photos of the disaster relief site, visit the SRT Picasa page. And to contribute to the disaster relief fund through the American Red Cross, visit the donation page.

About Zhone Technologies

Zhone Technologies, Inc. (NASDAQ:ZHNE) is a global leader in all IP multi-service access solutions, serving more than 750 of the world’s most innovative network operators. The IP Zhone is the only solution that enables service providers to build the network of the future…today, supporting end-to-end Voice, Data, Entertainment Social Media, Business, Mobile Backhaul and Mobility service. Zhone is committed to building the fastest and highest quality All IP Multi-Service solution for its customers. Zhone is headquartered in California and its products are manufactured in the USA in a facility that is emission, waste-water and CFC free.

Zhone, the Zhone logo, and all Zhone product names are trademarks of Zhone Technologies, Inc. Other brand and product names are trademarks of their respective holders. Specifications, products, and/or product names are all subject to change without notice.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “seek,” “should,” “target,” “will,” “would,” variations of such words, and similar expressions are intended to identify forward-looking statements. In addition, forward-looking statements include, among others, statements that refer to financial estimates; projections of revenue, margins, expenses or other financial items. Readers are cautioned that actual results could differ materially from those expressed in or contemplated by the forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, commercial acceptance of the Company’s products; intense competition in the communications equipment market; the Company’s ability to execute on its strategy and operating plans; and economic conditions specific to the communications, networking, internet and related industries. In addition, please refer to the risk factors contained in the Company’s SEC filings available at www.sec.gov, including without limitation, the Company’s annual report on Form 10-K for the year ended December 31, 2010 and the Company’s quarterly report on Form 10-Q for the quarter ended March 31, 2011, and June 30, 2011. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements for any reason. Microsoft and Mediaroom are trademarks of the Microsoft group of companies.

Wednesday, August 31st, 2011 Uncategorized Comments Off on Zhone Technologies (ZHNE) Assists SRT Communications with Disaster Relief Communication Network

DynaVox (DVOX) Reports Fourth Quarter and Fiscal Year 2011 Results

PITTSBURGH, Aug. 31, 2011 (GLOBE NEWSWIRE) — DynaVox (Nasdaq:DVOX), the world’s leading provider of communication and education products for individuals with significant speech, language and learning disabilities, today announced results for the fourth quarter and fiscal year ended July 1, 2011.

For the fourth quarter ended July 1, 2011, net sales were $32.3 million, a decrease of 2% compared to net sales of $33.1 million for the fourth quarter ended July 2, 2010. Sales of the Company’s speech generating devices were substantially flat at $26.7 million, and sales of its special education software decreased 9% to $5.6 million from the prior year.

Gross profit for the fourth quarter of fiscal year 2011 declined 10% to $22.6 million, compared to $25.2 million in the fourth quarter of the prior year. The Company’s gross margin for the fourth quarter was 70.0%, compared to 76.1% in the prior year’s comparable quarter. The gross margin decline was due mainly to an unfavorable device product mix, slightly lower margin on the Company’s software sales and reduced royalty revenue.

Operating income was $5.5 million in the fourth quarter of fiscal year 2011, compared to operating income of $8.0 million in the same period a year ago. Operating expenses for the fourth quarter of fiscal year 2011 were essentially flat compared to the prior year and included $0.7 million related to R&D projects and an impairment loss that the Company believes are not reflective of its quarterly run rate. Operating expenses for the fourth quarter of the prior year included $1.7 million of accelerated equity-based compensation expense related to the Company’s April 2010 initial public offering.

Fourth quarter GAAP net income was $0.9 million, or $0.10 per share. Adjusted pro forma net income and adjusted pro forma net income per share, as defined below, were $3.6 million, or $0.12 per share, for the fourth quarter of fiscal year 2011, compared to $2.8 million, or $0.09 per share, in the prior year’s fourth quarter.

Adjusted EBITDA, as defined below, declined 34% in the fourth quarter of fiscal year 2011 to $8.1 million from $12.1 million in the previous year.

“Fiscal 2011 was a challenging year for DynaVox. To mitigate the very dynamic and changing operating environment we revised our strategies and reallocated our resources,” said Ed Donnelly, DynaVox’s Chief Executive Officer. “We believe that the progress we have made in the second half of the year, especially in the fourth quarter, is directly attributable to these new strategies and that they will continue to serve us well.”

“Looking forward, we will focus on managing our operating expenses and optimizing our investments in the areas of greatest opportunities. We believe that the proven value proposition of our products and our deep knowledge of customer needs will help us continue to position DynaVox for market share expansion and growth in fiscal year 2012 and beyond.”

Fiscal Year 2011 Results

For the fiscal year ended July 1, 2011, net sales declined 5% to $108.1 million, compared to $114.3 million in the same period last year.

Gross profit for fiscal year 2011 declined 12% to $75.9 million, compared to $86.4 million in the same period last year. The Company’s gross margin decreased to 70.2% from 75.6% in the same period last year. Excluding the inventory obsolescence charge of $500,000 recorded in the third quarter, the Company’s gross margin was 70.6% for fiscal year 2011.

Operating income for fiscal year 2011 was $10.2 million, compared to $23.2 million in the prior year period. Excluding the inventory obsolescence charge of $500,000 and the $1.3 million impairment loss, recorded primarily in the third quarter, operating income for fiscal year 2011 was $12.0 million.

GAAP net income for fiscal year 2011 was $1.2 million, or $0.13 per share. Adjusted pro forma net income, as defined by the Company, was $5.8 million, or $0.19 per share.

Adjusted EBITDA for fiscal year 2011 was $19.3 million, compared to $32.9 million in the same period last year.

Fiscal Year 2012 Guidance

For fiscal year 2012, the Company projects net sales to grow in the range of 3% to 7%, compared to fiscal year 2011. The Company expects Adjusted EBITDA for fiscal year 2012 to be in the range of $23 million to $27 million and adjusted pro forma net income per share to be in the range of $0.28 to $0.36.

Conference Call

The conference call is scheduled to begin at 4:45 p.m. EDT on August 31, 2011. The call will be broadcast live over the Internet, hosted at the Investor Relations section of DynaVox’s website at http://ir.dynavoxtech.com/index.cfm, and will be archived online through September 14, 2011. In addition, listeners may dial (877) 312-5529 in North America, and international listeners may dial (253) 237-1147. Participants from the Company will be Ed Donnelly, Chief Executive Officer, and Ken Misch, Chief Financial Officer.

A telephonic playback will be available from 7:45 p.m. EDT, August 31, 2011 through September 14, 2011. To hear the playback participants may dial (855) 859-2056 and international listeners may dial (404) 537-3406. The conference ID number is 91374099.

Explanatory Note and Non-GAAP Financial Measures

DynaVox Inc. completed an initial public offering (IPO) on April 27, 2010. As a result of the IPO and certain other recapitalization transactions, DynaVox Inc. became the sole managing member of and has a controlling interest in DynaVox Systems Holdings LLC and its subsidiaries (“DynaVox Holdings” or “Predecessor”). References to “DynaVox,” the “Company,” and “Successor” refer, subsequent to the IPO and related transactions, to DynaVox Inc. and its consolidated subsidiaries and these references (other than “Successor”) refer, prior to the IPO and related transactions, to DynaVox Holdings.

This release presents adjusted pro forma net income, which as defined by the Company represents net income before non-controlling interest and after pro forma corporate income tax expense applied at an assumed 38.0% rate, which includes a provision for U.S. federal income taxes, assumes the highest statutory rates apportioned to each state, local and/or foreign jurisdiction and assumes the full exchange of Holdings Units of DynaVox Holdings into Class A Common Stock. Adjusted pro forma net income also excludes the effect of the above-described impairment loss related to intangible assets and fixed assets acquired as part of the Company’s previous product acquisition. Adjusted pro forma net income per share consists of adjusted pro forma net income divided by the aggregate number of the Company’s Class A Common Stock outstanding, assuming full exchange of Holdings Units of DynaVox Holdings into Class A Common Stock of DynaVox Inc. and giving effect to the dilutive impact, if any, of stock options and restricted stock awards. The Company believes that Adjusted Pro Forma Net Income, when presented together with the comparable measure presented in accordance with GAAP, is useful to investors to assist in their understanding of the effect of the Company’s organizational structure on its reported results and also in comparing the Company’s results across different periods.

This release also presents Adjusted EBITDA, as defined by the Company as the income before income taxes, interest income, interest expense, depreciation, amortization and other adjustments noted in the table below.

Adjusted EBITDA, adjusted pro forma net income and adjusted pro forma net income per share, however, do not represent and should not be considered as an alternative to net income, net income per share or cash flow from operating activities, as determined in accordance with GAAP, and our calculations thereof may not be comparable to similarly entitled measures reported by other companies.

Forward-Looking Statements

This press release contains forward-looking statements, including the information presented above under the caption “Fiscal Year 2012 Guidance” which reflect our current views with respect to, among other things, our operations and financial performance. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “projects”, “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to those described under “Risk Factors” in our Annual Report on Form 10-K, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Annual Report on Form 10-K and other filings. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. In addition, our expectations with respect to net sales, Adjusted EBITDA and adjusted pro forma net income per share for fiscal year 2012 reflect an assumption that the challenges presented by the current macroeconomic environment continue to exist during fiscal year 2012 but that we expect to report slightly improved results compared to fiscal year 2011 as a result of the strategies deployed during the latter part of fiscal year 2011. Our results may differ from these expectations should the macro-economic conditions change or should our strategies not return the expected results.

About DynaVox Inc.

DynaVox Inc. (Nasdaq:DVOX) is a publicly traded holding Company with its headquarters in Pittsburgh, Pennsylvania, whose primary operating entities are DynaVox Systems LLC and Mayer-Johnson LLC. DynaVox is the leading provider of speech generating devices and symbol-adapted special education software used to assist individuals in overcoming their speech, language and learning challenges. These solutions are designed to help individuals who have complex communication and learning needs participate in the home, classroom and community. Our mission is to enable our customers to realize their full communication and education potential by developing industry-leading devices, software and content and by providing the services to support them. We assist individuals, families, and professionals with an extensive field support organization, as well as centralized technical and reimbursement support. For more information, visit www.dynavoxtech.com.

DYNAVOX INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(Dollars in thousands, except per share amounts)
Successor Aggregated Successor Predecessor
Period from Period
from
Thirteen Weeks Thirteen Weeks April 28, April 3,
Ended Ended 2010 2010
July 1, July 2, to July 2, to April 27,
2011 2010 2010 2010
NET SALES $ 32,340 $ 33,054 $ 25,803 $ 7,251
COST OF SALES 9,704 7,903 6,178 1,725
GROSS PROFIT 22,636 25,151 19,625 5,526
OPERATING EXPENSES:
Selling and marketing 9,787 7,638 5,342 2,296
Research and development 2,652 2,883 2,194 689
General and administrative 4,366 6,530 5,542 988
Amortization of certain intangibles 111 115 87 28
Impairment loss 244
Total operating expenses 17,160 17,166 13,165 4,001
INCOME FROM OPERATIONS 5,476 7,985 6,460 1,525
OTHER INCOME (EXPENSE):
Interest income 6 18 12 6
Interest expense (636) (964) (440) (524)
Change in fair value and net loss on interest rate swap agreement (81) (87) 6
Loss on extinguishment of debt (2,441) (2,441)
Other income (expense) — net 782 (11) (10) (1)
Total other income (expense) — net 152 (3,479) (2,966) (513)
INCOME BEFORE INCOME TAXES 5,628 $ 4,506 3,494 1,012
INCOME TAX EXPENSE (BENEFIT) 1,027 592 (29)
NET INCOME ATTRIBUTABLE TO THE CONTROLLING AND
NON-CONTROLLING INTERESTS $ 4,601 $ 2,902 $ 1,041
Less: net income attributable to the non-controlling interests (3,671) (2,397)
NET INCOME ATTRIBUTABLE TO DYNAVOX INC. $ 930 $ 505
Weighted-average shares of Class A common stock outstanding:
Basic 9,378,297 9,375,000
Diluted 9,378,593 9,687,366
Net income available to Class A common stock per share:
Basic $ 0.10 $ 0.05
Diluted $ 0.10 $ 0.05
DYNAVOX INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(Dollars in thousands, except per share amounts)
Successor Aggregated Successor Predecessor
Period from Period from
Fifty-Two Fifty-Two April 28, July 4,
Weeks Ended Weeks Ended 2010 2009
July 1, July 2, to July 2, to April 27,
2011 2010 2010 2010
NET SALES $ 108,103 $ 114,299 $ 25,803 $ 88,496
COST OF SALES 32,251 27,933 6,178 21,755
GROSS PROFIT 75,852 86,366 19,625 66,741
OPERATING EXPENSES:
Selling and marketing 35,567 34,127 5,342 28,785
Research and development 9,888 10,106 2,194 7,912
General and administrative 18,480 17,841 5,542 12,299
Amortization of certain intangibles 445 1,078 87 991
Impairment loss 1,262
Total operating expenses 65,642 63,152 13,165 49,987
INCOME FROM OPERATIONS 10,210 23,214 6,460 16,754
OTHER INCOME (EXPENSE):
Interest income 36 55 12 43
Interest expense (2,650) (6,801) (440) (6,361)
Change in fair value and net loss on interest rate swap agreement (81) (746) (87) (659)
Loss on extinguishment of debt (2,441) (2,441)
Other income (expense) — net 513 (95) (10) (85)
Total other expense — net (2,182) (10,028) (2,966) (7,062)
INCOME BEFORE INCOME TAXES 8,028 $ 13,186 3,494 9,692
INCOME TAX EXPENSE 1,361 592 102
NET INCOME ATTRIBUTABLE TO THE CONTROLLING AND
NON-CONTROLLING INTERESTS $ 6,667 $ 2,902 $ 9,590
Less: net income attributable to the non-controlling interests (5,438) (2,397)
NET INCOME ATTRIBUTABLE TO DYNAVOX INC. $ 1,229 $ 505
Weighted-average shares of Class A common stock outstanding:
Basic 9,375,824 9,375,000
Diluted 9,375,898 9,687,366
Net income available to Class A common stock per share:
Basic $ 0.13 $ 0.05
Diluted $ 0.13 $ 0.05
DYNAVOX INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Dollars in thousands)
Successor Successor
As of As of
July 1, 2011 July 2, 2010
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 12,171 $ 20,777
Trade receivables – net 18,676 17,741
Other receivables 318 503
Inventories – net 4,876 6,808
Prepaid expenses and other current assets 1,298 1,210
Deferred taxes 669 728
Total current assets 38,008 47,767
PROPERTY AND EQUIPMENT – Net 5,517 7,065
GOODWILL AND INTANGIBLES – Net 90,695 92,177
DEFERRED TAXES 40,677 41,474
OTHER ASSETS 2,253 2,683
TOTAL ASSETS $ 177,150 $ 191,166
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt $ — $ 3,961
Trade accounts payable 6,680 5,541
Other liabilities 9,459 14,562
Total current liabilities 16,139 24,064
LONG-TERM DEBT 36,200 44,200
OTHER LONG-TERM LIABILITIES 42,262 45,038
Total liabilities 94,601 113,302
STOCKHOLDERS’ EQUITY 82,549 77,864
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 177,150 $ 191,166
DYNAVOX INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(Dollars in thousands)
Successor Aggregated Successor Aggregated
Thirteen Thirteen Fifty-Two Fifty-Two
Weeks Ended Weeks Ended Weeks Ended Weeks Ended
July 1, July 2, July 1, July 2,
2011 2010 2011 2010
CASH FLOWS FROM OPERATING ACTIVITIES:
Net cash provided by operating activities $ 8,177 $ 9,264 $ 11,829 $ 21,000
CASH FLOWS FROM INVESTING ACTIVITIES
Cash used in investing activities (368) (1,041) (3,196) (8,966)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net cash (used in) provided by financing activities (7,886) 2,803 (17,326) (3,888)
EFFECT OF CURRENCY EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 2 (40) 87
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (75) 10,986 (8,606) 8,146
CASH AND CASH EQUIVALENTS:
Beginning of period 12,246 9,791 20,777 12,631
End of period $ 12,171 $ 20,777 $ 12,171 $ 20,777
DYNAVOX INC. AND SUBSIDIARIES
ADJUSTED EBITDA
(Unaudited)
(Dollars in thousands)
Aggregated Aggregated
Thirteen Thirteen Fifty-Two Fifty-Two
Weeks Ended Weeks Ended Weeks Ended Weeks Ended
July 1, 2011 July 2, 2010 July 1, 2011 July 2, 2010
Other Financial Data
Adjusted EBITDA (1) $ 8,058 $ 12,126 $ 19,273 $ 32,929
(1) Adjusted EBITDA represents income (loss) before income taxes, interest income, interest expense, impairment loss, depreciation and amortization and the other
adjustments noted in the table below.
Adjusted EBITDA Reconciliation
Aggregated Aggregated
Thirteen Thirteen Fifty-Two Fifty-Two
Weeks Ended Weeks Ended Weeks Ended Weeks Ended
July 1, 2011 July 2, 2010 July 1, 2011 July 2, 2010
Income before income taxes $ 5,628 $ 4,506 $ 8,028 $ 13,186
Depreciation 834 724 3,377 2,871
Amortization 287 236 981 1,428
Interest income (6) (17) (36) (55)
Interest expense 636 963 2,650 6,801
Change in fair value and net loss on interest rate swaps 81 81 746
Loss on extinguishment of debt (a) 2,441 2,441
Other expense (income), net (b) (755) (84) (530) (84)
Equity-based compensation 540 2,194 2,124 2,767
Employee severance and other costs 89 734 397 1,355
Acquisition costs (c) 116 139 277 484
Management fees (d) 75 300
Impairment loss 244 1,262
Other adjustments(e) 445 134 662 689
Adjusted EBITDA $ 8,058 $ 12,126 $ 19,273 $ 32,929
(a) Early repayment penalty and related expenses resulting from $31,000 aggregate principal amount of senior subordinated notes repaid with proceeds from IPO.
(b) Excludes realized foreign currency gains or losses.
(c) Legal, accounting and other external costs related to the purchase of certain assets and liabilities of Blink-Twice Inc. and the purchase of Eye Response
Technologies, Inc. including certain post-closing expenses which may be reimbursed to the Company at a later date under the terms of the applicable agreements.
(d) Prior to April 21, 2010, we received advisory services from Vestar and certain pre-IPO owners. These arrangements concluded on April 21, 2010.
(e) Includes certain amounts related to other taxes, executive recruiting fees, relocation and other costs.
DYNAVOX INC. AND SUBSIDIARIES
ADJUSTED PRO FORMA NET INCOME
(Unaudited)
(Dollars in thousands, except share and per share amounts)
Aggregate Aggregate
Thirteen Fifty-Two Thirteen Fifty-Two
Weeks Ended Weeks Ended Weeks Ended Weeks Ended
July 1, 2011 July 1, 2011 July 2, 2010 July 2, 2010
Net income attributable to DynaVox Inc. $ 930 $ 1,229 $ 1,546 $ 10,095
Adjustments:
Net income attributable to the non-controlling interest 3,671 5,438 2,397 2,397
Impairment loss 244 1,262
Income taxes (1,204) (2,169) (1,149) (4,317)
Total adjustments 2,711 4,531 1,248 (1,920)
Adjusted pro forma net income $ 3,641 $ 5,760 $ 2,794 $ 8,175
Pro forma shares outstanding – diluted 29,804,134 29,823,700 30,144,887 30,144,887
Adjusted pro forma net income per share – diluted $ 0.12 $ 0.19 $ 0.09 $ 0.27
Adjusted pro forma net income, as defined by DynaVox, represents net income before non-controlling interests and after pro forma corporate income tax expense applied at an assumed 38.0% rate, which includes a provision for U.S. federal income taxes, assumes the highest statutory rates apportioned to each state, local and/or foreign jurisdiction and assumes the full exchange of Holdings Units into Class A Common Stock as described below. Adjusted pro forma net income also excludes the effect of the above-described impairment loss related primarily to intangible assets and fixed assets acquired as part of the Company’s previous product acquisition. Adjusted pro forma net income per share consists of adjusted pro forma net income, divided by the aggregate number of the Company’s Class A Common Stock outstanding, assuming full exchange of Holdings Units of DynaVox Holdings into Class A Common Stock of DynaVox Inc. and giving effect to the dilutive impact, if any, of stock options and restricted stock awards.
The table above provides a reconciliation of net income to adjusted pro forma net income and adjusted pro forma net income per share.
CONTACT: News Media Contact:
         DynaVox
         Joanne Kaufmann
         Communications Manager
         (412) 222-7837

         Investor Contact:
         ICR, LLC
         Sherry Bertner
         Managing Director
         (646) 277-1247
Wednesday, August 31st, 2011 Uncategorized Comments Off on DynaVox (DVOX) Reports Fourth Quarter and Fiscal Year 2011 Results

Apricus Biosciences (APRI) Receives FDA Clearance for Its Third OTC Drug Containing NexACT(R) Technology

SAN DIEGO, Aug. 31, 2011 (GLOBE NEWSWIRE) — Apricus Biosciences, Inc. (“Apricus Bio” or the “Company”) (Nasdaq:APRI) (http://www.apricusbio.com) announced today that its wholly-owned subsidiary, NexMed USA, Inc., has received clearance from the U.S. Food and Drug Administration (“FDA”) for its third, over-the-counter (“OTC”) drug, Diphenhydramine-D™, containing the Company’s NexACT® technology.

“This latest clearance from the FDA of our third OTC drug containing our proprietary NexACT® drug delivery technology, illustrates the progress we have achieved in a relatively short period of time toward building out our OTC Consumer Healthcare Division, and puts us one step closer to being able to provide a full-line of OTC products in the topical area,” said Dr. Bassam Damaj, Chairman, President and Chief Executive Officer of Apricus Bio. “As such, we will continue to seek clearance for a number of additional OTC drugs in order to further expand this division and maximize the flexibility of our proprietary technology platform. In addition, we will be seeking partners with established distribution channels to partner with and commercialize these products,” he added.

The active ingredients in this OTC drug are diphenhydramine hydrochloride (2%) and zinc acetate (0.1%). Diphenhydramine hydrochloride is a topical analgesic and zinc acetate is a skin protectorant, both of which are in the OTC monograph and can be sold as creams. They are currently used in combination to treat itching associated with insect bites, minor burns, sunburn, minor skin irritations, minor cuts, scrapes, and rashes due to poison ivy, poison oak and poison sumac. They are also used to dry the oozing and weeping caused by poison ivy, poison oak and poison sumac and are sold under several third party brand names, most notably Demarest (Fougera & Co.), Benadryl Extra Strength Itch Stopping Gel (McNeill PPC, Inc.) and Derma-Pax (Recsei Laboratories, Inc.).

Apricus Bio’s new Diphenhydramine-D™ product combines diphenhydramine hydrochloride and zinc acetate with DDAIP, the main ingredient in NexACT®, the Company’s proprietary drug delivery technology. NexACT® temporarily loosens the tight junctions between skin cells allowing for improved permeation of a drug through the cells to the target area.

According to the FDA, OTC products can be marketed under the authority of an approved product-specific new drug application (“NDA”) or an abbreviated NDA (“ANDA”), or under an OTC drug monograph. Unlike NDAs, monographs specify the active ingredients that can be contained in OTC drug products. In addition to specifying the active ingredients, the OTC monographs contain information regarding the permitted concentrations of active ingredients, dosage limits, indications, and other requirements for legal marketing under monograph status.

To view the current U.S. monographs for OTC products, please go to http://www.fda.gov/downloads/AboutFDA/CentersOffices/CDER/UCM135688.pdf (to view by Active Ingredient), or http://www.fda.gov/downloads/AboutFDA/CentersOffices/CDER/UCM135691.pdf (to view by Monograph Category). To view the current approval listing, please go to http://dailymed.nlm.nih.gov and type diphenhydramine hydrochloride and zinc acetate in the search index.

About Apricus Biosciences, Inc.

Apricus Bio, a San Diego-based, revenue-generating, biopharmaceutical company, has leveraged the flexibility of its clinically-validated NexACT® drug delivery technology to enable multi-route administration of new and improved compounds across numerous therapeutic classes.

Revenues and growth are driven from out-licensing of this technology for the development and commercialization of such compounds to pharmaceutical and biotechnology companies worldwide. In addition, the Company is seeking to monetize its existing product pipeline, including its first product, Vitaros®, approved in Canada for the treatment of erectile dysfunction, which is currently expected to be available on the Canadian market in 2011, as well as compounds in development from pre-clinical through Phase III, currently focused on Sexual Dysfunction, Oncology, Dermatology, Autoimmune, Pain, Anti-Infectives, Diabetes and Cosmeceuticals among others. The Company is also developing its over-the counter (“OTC”) Consumer Healthcare Division by seeking clearance for a number of drugs that contain active ingredients listed in the OTC drug monograph combined with Apricus Bio’s NexACT® technology.

For further information on Apricus Bio, visit http://www.apricusbio.com and for information on its subsidiary, please visit www.nexmedusa.com. You can also receive information at http://twitter.com/apricusbio and http://facebook.com/apricusbio.

Apricus Bio’s Forward-Looking Statement Safe Harbor

Statements under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to receive issued patents on its NexACT® technology and products, develop such patented technology into product candidates, have its products and product candidates such as Vitaros® approved by relevant regulatory authorities, to successfully commercialize such products including Diphenhydramine-D™ and other over-the-counter products (“OTC”) and product candidates and to achieve its other development, commercialization and financial goals. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q and other filings made with the SEC. Copies of these reports are available from the SEC’s website or without charge from the Company.

CONTACT: Apricus Biosciences, Inc.
         Edward Cox, V.P.
         Corporate Development & Investor Relations, Apricus Bio, Inc.
         (858) 848-4249
         ecox@apricusbio.com

         Apricus Bio Investor Relations
         Paula Schwartz
         Rx Communications Group, LLC
         (917) 322-2216
         pschwartz@rxir.com
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Universal Security Instruments (UUU) Introduces Revolutionary Plug-In Carbon Monoxide/Natural Gas Alarm

OWINGS MILLS, Md., Aug. 31, 2011 /PRNewswire/ — Universal Security Instruments, Inc. (NYSE AMEX: UUU) (Universal) announced today the introduction of two revolutionary plug-in alarms which use a single sensor to detect the presence of both carbon monoxide and natural gas (methane). These models are designed to satisfy the requirements of the Canadian market place and will be introduced by a major Canadian retailer in time to take advantage of this year’s peak selling season for Carbon Monoxide alarms.

Harvey Grossblatt, the Company’s Chief Executive Officer, noted that, “Universal’s plug-in Carbon Monoxide alarms also provide the added protection of natural gas detection and will retail for approximately the same cost as our competitors’ carbon monoxide-only plug-in alarms. Deaths and injuries caused by natural gas leaks have become an increasing problem and this added protection should help to save many lives.”

UNIVERSAL SECURITY INSTRUMENTS, INC. is a U.S.-based manufacturer (through its Hong Kong Joint Venture) and distributor of safety and security devices. Founded in 1969, the Company has a 40-year heritage of developing innovative and easy-to-install products, including smoke, fire and carbon monoxide alarms. For more information on Universal Security Instruments, visit our website at www.universalsecurity.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Certain matters discussed in this news release may constitute forward-looking statements within the meaning of the federal securities laws that inherently include certain risks and uncertainties. Actual results could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including, among other items, our Hong Kong Joint Venture’s respective ability to maintain operating profitability, currency fluctuations, the impact of current and future laws and governmental regulations affecting us and our Hong Kong Joint Venture and other factors which may be identified from time to time in our Securities and Exchange Commission filings and other public announcements. We do not undertake and specifically disclaim any obligation to update any forward-looking statements to reflect occurrence of anticipated or unanticipated events or circumstances after the date of such statements. We will revise our outlook from time to time and frequently will not disclose such revisions publicly.

SOURCE Universal Security Instruments, Inc.

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Openwave (OPWV) Takes Legal Action Against Apple and RIM to Protect its Intellectual Property for Mobile Internet Access

REDWOOD CITY, CAAugust 31, 2011

Openwave Systems Inc. (Nasdaq: OPWV) today said it filed complaints against Apple Inc. and Research In Motion Limited in order to protect its intellectual property on how mobile devices connect to the Internet.

The complaint, filed at the International Trade Commission (ITC) in Washington, DC, requests that the ITC bar the import of smartphones and tablet computers that infringe Openwave patents, including, but not limited to, Apple’s iPhone 3G, iPhone 3GS, iPhone 4, iPod Touch, iPad and iPad 2; and RIM’s Blackberry Curve 9330 and Blackberry PlayBook. Openwave also filed a similar complaint in federal district court in Delaware.

“Openwave invented technologies that became foundational to the mobile Internet. We believe that these large companies should pay us for the use of our technologies, particularly in light of the substantial revenue these companies have earned from devices that use our intellectual property,” said Ken Denman, Chief Executive Officer of Openwave. “Before filing these complaints, we approached both of these companies numerous times in an attempt to negotiate a license of our technology with them and did not receive a substantive response.”

For more than 15 years, Openwave has pioneered the development and patenting of mobile Internet technologies. Openwave was the first company in 1997 to enable operators to deploy mobile Internet browsing, and the first in 2001 with technology that enables photo messaging. The company owns approximately 200 patents that support its software business with telecommunications operators worldwide.

“In the end, litigation is the only way we can defend our rights against these large companies that have effectively refused to license the use of the technologies we invented, are using today, and are continuing to develop for our customers,” Mr. Denman said. “We are proud that our technology is helping deliver such a rich mobile internet experience to consumers around the world.”

The Openwave complaints specifically allege that Apple and RIM infringe upon five Openwave patents. These patents cover technology that gives consumers access to the Internet from their mobile devices:

* Openwave’s 212 patent generally allows a user to use e-mail applications on a mobile device when the network is unavailable – such as when a user is on an airplane. For more information, please refer to the complaint, page 8.

* Openwave’s 409 patent generally allows the mobile device to operate seamlessly, and securely, with a server over a wireless network. For more information, please refer to the complaint, page 10.

* Openwave’s 037 patent generally allows access to updated versions of applications on mobile devices. For more information, please refer to the complaint, page 9.

* Openwave’s 447 patent generally allows consumers to experience an improved user experience in navigating through various pages of information without delay. For more information, please refer to the complaint, page 12.

* Openwave’s 608 patent generally relates to cloud computing. For example, the 608 patent enables data to be accessed or shared by different devices such as mobile handsets or computers. For more information, please refer to the complaint, page 6.

“As it became clear that these large companies would not substantively cooperate with us, the Company carefully evaluated its legal position and litigation prospects. We believe that our legal position is strong and our prospects of prevailing are very good,” said Mr. Denman. “In our analysis, this is our best option to unlock the substantial value of our intellectual property. The ITC process typically results in judgments within 15-18 months. We anticipate that a favorable judgment will lead the companies to negotiate licensing agreements with us.”

Openwave has posted a letter to its shareholders describing the litigation, as well as the complaint as it is filed and other related materials, on its website at www.openwave.com.

About Openwave

Openwave Systems Inc. (Nasdaq: OPWV) is a global software innovator delivering context-aware mediation and messaging solutions that enable communication service providers and the broader ecosystem to create and deliver smarter services.

Building on its mobile data heritage, Openwave mobilizes the Internet with predictive solutions fueled by real-time analytics that mediate among different ecosystem elements, comprehensively permitting the enhancement of IP traffic. The result can provide customers with a 360-degree view of their network, devices and services, and enables them to proactively optimize network resources, quickly launch smart mobile services, and provide a contextually relevant user experience.

Openwave is a global company with a blue chip customer base spanning North America, Latin America, Australia and New Zealand, Asia, Africa, Europe, and the Middle East. Openwave is headquartered in Redwood City, California.

Cautionary Language Regarding Forward-Looking Statements

The statements in this press release with respect to the beliefs of Openwave regarding the prospects of the litigation it has launched, and the effects that a favorable outcome in the litigation will have, are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1943 and Section 27A of the Securities Act of 1933. These forward-looking statements are subject to many risks and uncertainties that could cause actual results to differ materially from those projected. Notwithstanding changes that may occur with respect to matters relating to these forward looking statements, Openwave assumes no obligation to update the forward-looking statements included in this press release except as required by law.

In particular, the following risks, among others, could cause actual results to differ materially from those projected: (a) intellectual property litigation is inherently uncertain, and no outcome can be guaranteed; (b) other entities may assert rights to Openwave’s intellectual property, which could weaken Openwave’s position in the litigation; (c) the cost of litigation is uncertain and could be very high, which could cause Openwave to settle the litigation for amounts less than amounts to which it believes it is entitled; (d) defendents in the litigation may assert counterclaims which may reduce the strength of Openwave’s claims; and (e) those risks discussed in Openwave’s filings with the U.S. Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in the company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2011. These documents are available through the SEC’s Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov or from Openwave’s website at www.openwave.com.

Openwave Systems Inc.
Investor Relations
Mike Bishop
investor@openwave.com
Tel: 650-480-4461

Public Relations
Vikki Herrera
Vikki.Herrera@openwave.com
Tel: 650-480-6753

Media Relations
Rosemary Wilson
The Abernathy MacGregor Group
213-630-6550 (P)
310-488-8751 (M)
rdw@abmac.com

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Scorpex (SRPX) Accomplishes Key 2011 Business Objectives Far Ahead of Schedule

LAS VEGAS, NV — (Marketwire) — 08/29/11 — Scorpex, Inc. (PINKSHEETS: SRPX) (the “Company”), an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, today provides current and prospective investors with an update regarding the previously announced initiatives for the current calendar year.

To date, the Company has:

1. Signed a $30 million equipment contract with International Environmental Technologies, Inc. (“IET”) for the acquisition and installation of waste gasification/thermal oxidation equipment as well as a license to use the technology.
2. Secured financial commitments for up to $35 million of non-dilutive financing; contingent on the issuance of necessary permits. The Company continues to evaluate its options as additional low-cost financing offers are anticipated.
3. Received its Use of Soil Permit from the Mexican federal government following the submission of numerous studies and compliance with every request. The permit is necessary for the issuance of certain state and local operational permits, which are anticipated to be granted to the Company in the very near future.
4. Engaged an accounting group to prepare its financials for a formal audit. Following completion, Scorpex intends to file financial reports with the U.S. Securities and Exchange Commission (“SEC”) and take the next step of listing on a senior securities exchange after meeting other criteria of the exchange.
5. Appointed an interim Chief Financial Officer to the management team and made two additions to its Board of Directors. The individuals have accumulated extensive experience and success in both the public and private sectors. Additional candidates are being evaluated to further enhance leadership of the Company.
6. Secured the investor relations services of MissionIR to communicate Scorpex’s business strategy to the investor community as well as keep investors informed of ongoing progress.

Chief Executive Officer Joseph Caywood commented, “Our progress over the last ninety days has been nothing short of remarkable. Even though we are only in the third quarter, our Company has accomplished nearly all business objectives that were set for completion this year. This is a testament not only to the competence of our team, but also the exhaustive groundwork that has been laid over the years. Our excitement continues to build as we make great strides forward in the execution of our business strategy.”

About Scorpex, Inc.

Scorpex, Inc. is taking the necessary steps to own and operate a full service waste disposal and recycling company, capable of storing and disposing all types of waste, including those classified as industrial, toxic, and hazardous. The location chosen for the first Scorpex plant is strategically positioned to accommodate the vast region of Baja California, Mexico.

For more information, visit www.scorpex.com

About MissionIR

MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. Through a full suite of investor relations and consultancy services, we help public companies develop and execute a strategic investor awareness plan as we’ve done for hundreds of others. Whether it is capital raising, increasing awareness among the financial community, or enhancing corporate communications, we offer a variety of solutions to meet the objectives of our clients.

For more information on Scorpex, Inc., visit http://SRPX.MissionIR.com

This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Company’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.

Contact:

Investor Relations
J.R. Munoz
310-891-1838

Monday, August 29th, 2011 Uncategorized Comments Off on Scorpex (SRPX) Accomplishes Key 2011 Business Objectives Far Ahead of Schedule

NF Energy Saving Corp. (NFEC) Announces Recent Contracts

SHENYANG, Liaoning Province, China, Aug. 29, 2011 /PRNewswire-Asia/ — NF Energy Saving Corp. (NASDAQ: NFEC) (“NF Energy” or the “Company”), a leading provider of energy management services and producer of energy efficiency products, announced today that it has signed a series of contracts recently.

NF Energy has won a contract to supply the water project of The South Main Canal of the South-to-North Water Transfer Project (“SNWTP”). The contract amount is 6.96 million RMB. This is the sixth contract that the Company has been awarded by the SNWTP. On this occasion the SNWTP has been invited bids for four sections, two of which (sections two and four) were awarded to NF Energy. The second section of the project will use 50 sets of the Company’s DN200-3400 manual and electric butterfly valves and related accessories, and 16 sets of DN1600-3400 electric butterfly valves and accessories. The fourth section of the project will use 230 sets of DN200-300 air valves and butterfly valves. The delivery date for the project is expected to be September this year.

NF Energy also won a major project in Zhejiang province. This was a contract for equipment for the circulating water system, fluid control and electric butterfly valve flow control devices in the 2×1000MW ultra supercritical coal-fired unit project of Zhejiang Zhe Neng Six Heng power plant. The total amount of the contract is 7.5 million RMB. The delivery date will be in August 2012. Zhejiang Zheneng Group is a key client of NF Energy and the Company, has previously provided flow control devices for a power plant project undertaken by its subsidiary, Zhejiang Zheneng Le Qing.

The company attaches great importance client need, both for the highest quality and for the latest technology, and is pleased to have received these contracts that signify customer endorsement of its current technology and service levels. The Company will continue to develop new products to meet client demands and looks forward to serving the needs of China’s water and power industries.

“We are very glad to have successfully bid for and won work for the South-to-North Water Transfer Project, especially in 2011 which is the first year of China’s “twelfth-five year plan” that endorses and encourages the development of energy-saving and environmentally friendly industries and major water projects,” commented Mr. Gang Li, Chairman and CEO of NF Energy. “We are also very pleased to work with Zhejiang Zheneng Group again whose needs we understand and whose custom we value greatly.”

About Zhejiang Zheneng Group

Zhejiang Zheneng Group Co. Ltd. has a number of businesses including Tongxiang Zheneng Trading Co., Ltd., Zheneng Electronic Company, Zheneng Import & Export Co, Dubai Trading Co, Zhangjiagang Dong Long International Trading Co, Jiaao Investment Co, Tongxiang Jiaao Garment Co and Jiaao Chemical factory. The participate in the domestic and foreign markets for energy, electronics, textiles and garments.

About NF Energy Saving Corporation

NF Energy Saving Corporation (NASDAQ: NFEC) is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services to clients. The Company’s customers are mainly concentrated in the electrical generation (large-scale thermal power generation, hydroelectric power, wind power, and nuclear power), water supply, and heat supply industries. The majority of revenues are from energy efficient flow control equipment and energy efficiency projects. For more information, visit http://www.nfenergy.com

Safe Harbor Statement

The statements contained herein that are not historical facts are considered forward-looking statements. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as believes, expects, may, will, should, or anticipates or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, statements regarding the efficacy of investment in research and development are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the effect of political, economic, and market conditions and geopolitical events; legislative and regulatory changes that affect our business; the availability of funds and working capital; the actions and initiatives of current and potential competitors; investor sentiment; and our reputation. We do not undertake any responsibility to publicly release any revisions to these forward-looking statements to take into account events or circumstances that occur after the date of this report. Additionally, we do not undertake any responsibility to update you on the occurrence of any unanticipated events, which may cause actual results to differ from those expressed or implied by any forward-looking statements. The factors discussed herein are expressed from time to time in our filings with the Securities and Exchange Commission available at http://www.sec.gov.

Company Contact:

Investor Relations Contact:

Ms. Lihua Wang, Director & CFO

Mr. Mark Collinson, Partner

Tel: +86 24-8563 1159

Tel: +1 310-954-1343

Email: wlh@nfenergy.com

Email: mark.collinson@ccgir.com

NF Energy Saving Corp.

CCG Investor Relations

Website: www.nfenergy.com

Website: www.ccgirasia.com

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Sino Clean Energy, Inc. (SCEI) Announces Cooperation MOU with Nathalin Welstar Energy, Company Limited

XI’AN, China, Aug. 29, 2011 /PRNewswire-Asia-FirstCall/ — Sino Clean Energy Inc. (NASDAQ: SCEI) (“Sino Clean Energy,” or the “Company”), a leading producer and distributor of coal-water slurry fuel (“CWSF”) in China, today announced that it has signed a Memorandum of Understanding (“MOU”) and a preliminary engineering, procurement, and construction (“EPC”) agreement with Nathalin Welstar Energy, Company Limited (“Nathalin Welstar Energy” or “Nathalin”) for cooperation in the construction of a coal water slurry plant in Thailand.

Nathalin Welstar Energy, a subsidiary of leading Thai marine petroleum transport company Nathalin Group, focuses on developing environmentally-friendly energy sources, such as solar, wind, and clean coal. Under the agreement, Nathalin would invest in a 50,000 metric ton coal water slurry fuel (“CWSF”) production facility and a minimum 6,000 KW net output electricity power plant along with associated infrastructure. A leader in CWSF manufacturing and distribution in China and what management believes is the first US-listed Chinese company in the CWSF industry, Sino Clean Energy intends to undertake a site visit in Thailand for study and inspection to begin the process of consulting on the technical and financial aspects of the project.

Mr. Baowen Ren, chairman and chief executive officer of Sino Clean Energy, commented, “I am encouraged that we reached a pre-EPC agreement with Nathalin Welstar Energy following five months of negotiations. We highly regard the prospects of cooperation, not only because of the possible economic benefits, but also because of the strategic value of international partnership and expansion for the Company. If the pilot project succeeds, both parties plan to apply the cooperative model to larger scale CWSF facilities and electric power plants in Thailand. The Company believes that this pilot project might open up access for the company to a potentially large CWSF market in South East Asia.”

About Sino Clean Energy

Sino Clean Energy is the third largest producer of coal-water slurry fuel (“CWSF”) by sales in China, according to data provided in Frost Sullivan’s 2010 Chinese CWSF market report. A leader in developing CWSF as a cleaner alternative to burning coal aggregate in heating, industrial and power generation for residential and industrial applications, the Company has seven production lines located in Shaanxi, Liaoning, and Guangdong provinces. For more information about Sino Clean Energy, please visit http://www.sinocei.net.

Contact Information

Sino Clean Energy Inc.

Jing Li, Assistant to the CEO

Phone: +86-29-8844-7960 ext. 802

Email: Jing.Li@sinocei.net

ICR Inc.

Rob Koepp

Phone: +86-10-6583-7516 or +1-646-328-2526

E-mail: SCEI@icrinc.com

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QLT (QLTI) Shows Positive 4 Week Efficacy in Phase II Study for Glaucoma Using Latanoprost Punctal Plug Delivery System

VANCOUVER, British Columbia, Aug. 29, 2011 (GLOBE NEWSWIRE) — QLT Inc. (Nasdaq:QLTI) (TSX:QLT) today announced results of its Phase II clinical study on the efficacy and safety of the Latanoprost Punctal Plug Delivery System (L-PPDS) in subjects with ocular hypertension (OH) and open-angle glaucoma (OAG).

The Phase II trial featured simultaneous placement of punctal plugs in both the upper and lower puncta for delivery of a daily drug load with a goal of enabling comparable clinical outcomes to that of daily administered Xalatan® eye drops. The Company’s overall drug development objective was a mean reduction in IOP of 5 mmHg or greater. The primary endpoint in this Phase II study was the mean change in IOP from baseline (measured as mmHg) at 2 weeks. Secondary endpoints were the mean change in IOP from baseline at 4 weeks and mean percentage change in IOP from baseline at 2 weeks and 4 weeks.

A total of 95 ITT (Intent to Treat) subjects were included in the L-PPDS treatments in this study. The mean IOP at baseline was 25.8 mmHg for this group.

After 2 weeks of L-PPDS treatment, IOP showed a statistically significant mean change from baseline of -6.2 mmHg (95% C.I. -6.8, -5.6). At the end of 2 weeks, 73% of subjects showed an IOP reduction vs. baseline of 5 mmHg or greater and 51% of subjects showed a reduction of 6 mmHg or greater. The mean percentage change in IOP from baseline at 2 weeks was -24.3%, which was statistically significant (95% C.I. -26.7, -21.9).

After 4 weeks of L-PPDS treatment, IOP showed a statistically significant mean change from baseline of -5.7 mmHg (95% C.I. -6.5, -4.9). At the end of 4 weeks, 60% of subjects showed an IOP reduction vs. baseline of 5 mmHg or greater and 47% of subjects showed a reduction of 6 mmHg or greater. The mean percentage change in IOP from baseline at 4 weeks was also statistically significant at 22.3% (95% C.I. -25.4, -19.2). Results reported in earlier Phase II L-PPDS studies using different L-PPDS plug designs and doses did not achieve these levels of IOP reduction over a 4 week treatment period.

“Most if not all glaucoma specialists would agree that eye pressure lowering should be taken out of the patients’ hands and left in the hands of the physician,” said Alan L. Robin, MD, Associate Professor Ophthalmology and International Health at Johns Hopkins University and Clinical Professor of Ophthalmology, University of Maryland. “The results of the QLT study find the L-PPDS may offer a breakthrough in the way glaucoma medication can be delivered. The results suggest that the L-PPDS may have the ability to deliver long-lasting clinically significant eye pressure lowering that is relatively well-tolerated by patients so that they do not have to worry about eye drop instillation. Adherence no longer becomes a factor in preventing the development of needless blindness. Additionally, the procedure appears to be relatively safe, minimally-invasive and simple to perform. With further development success, this delivery system could potentially revolutionize our therapy of glaucoma.”

Table 1 – Glau 11 Phase II data *

Mean Change in IOP from Baseline
(95% C.I.)
Mean % Change in IOP
from Baseline (95% C.I.)
2 weeks
(n=70) **
-6.2 (-6.8, -5.6) -24.3% (-26.7%, -21.9%)
4 weeks
(n=53) **
-5.7 (-6.5,-4.9) -22.3% (-25.4%, -19.2%)

* Study sample size of 50 subjects was planned to provide a statistically reliable estimate of the mean IOP change from baseline with a 95% Confidence Interval

** Number of subjects who met ITT (Intent to Treat) and plug retention criteria (both upper and lower plug retained in at least one eye)

“We are very excited to see clinically meaningful data showing that a higher dose of latanoprost administered through a double plug approach can successfully decrease IOP by more than 5 mmHg,” said Bob Butchofsky, President and CEO of QLT Inc. “As a result, we plan to move forward with another Phase II trial in glaucoma and broaden this delivery platform by accelerating plans for a second molecule in 2012.”

The trial utilized the Company’s newest version of its later stage proprietary punctal plug in the lower punctum and an early stage prototype upper punctal plug based on a modified commercially available plug, providing a combined latanoprost amount of 141 µg. The proprietary lower punctal plugs were retained in 95% of subjects at 4 weeks. The modified commercially available upper punctal plugs were retained in 45% of subjects at 4 weeks. Using a 4 week benchmark, the subject retention rate for the proprietary lower punctal plug designs utilized in previous studies was 49% – 90%.

The L-PPDS was well tolerated over the testing period with adverse events (AEs) similar to those reported for commercial punctal plugs. The majority of AEs were ocular in nature, with tearing reported as the most frequent. No associated AEs were serious. As assessed by subjective scoring by study subjects, tearing was rated predominantly for L-PPDS treated eyes at week 4 as occasional – 22%, mild – 31%, or moderate – 32%. Few subjects experienced any discomfort related to the punctal plugs with most patients having either no awareness or mild awareness of the punctal plugs by week 4 (87% of eyes for L-PPDS subjects). A total of 42 subjects were not included in the ITT analysis at week 4, with 34 of these due to losses of the early stage prototype upper plug. During the study, 5 subjects discontinued due to AEs, and 3 subjects discontinued for other reasons. All subjects were included in the safety analysis.

About the L-PPDS Phase II Study

This completed Phase II multicenter study was conducted to evaluate the safety and efficacy of the L-PPDS utilizing simultaneous placement of punctal plugs in the upper and lower puncta containing a combined total of 141 µg of latanoprost, a prostaglandin analogue, in subjects with ocular hypertension (OH) or open-angle glaucoma (OAG) over a 4 week period. The original study design randomized subjects into one of two treatment groups: (i) placebo/L-PPDS (4 weeks placebo + 4 weeks L-PPDS), and (ii) sham/Xalatan® (4 weeks sham + 4 weeks Xalatan® drops). In April 2011, the trial design was amended to remove the sham/Xalatan® arm and to remove an initial 4 week placebo plug period from the study. These changes simplified the trial design and provided earlier access to active treatment in the study, which reduced the rate of patient discontinuation in the trial. The Principal Investigator for the study was Dr. Robert Williams, formerly of the Taustine Eye Center in Louisville, KY.

Updated R&D Guidance

Research and Development (R&D) expense in the first half of 2011 was $21.1 million, and the Company previously provided guidance for R&D expense of approximately $10 million to $12 million for the third quarter of 2011. With the results of the Phase II L-PPDS study in hand, the Company is now providing R&D guidance for full year 2011 of $44 million to $46 million. Major R&D initiatives for the remainder of the year relating to the QLT091001 Phase 1b trial in patients with Leber Congenital Amaurosis (LCA) and Retinitis Pigmentosa (RP) include: (i) ongoing follow-up of LCA patients, (ii) initial re-treatment of LCA patients treated in the trial, (iii) completion of enrollment in the RP cohort, and (iv) ongoing formulation and development work. For the punctal plug drug delivery program, near term development goals include further evaluation of the single versus double plug approaches and enabling a longer duration of sustained release. Major R&D plans for this program include commencing another Phase II trial in glaucoma, device work in particular for upper puncta placement, and ongoing formulation and development work in particular for new product candidates.

Conference Call Information

QLT Inc. will hold an investor conference call today to discuss the announcement at 8:30 a.m. ET (5:30 a.m. PT). The call with slides will be broadcast live via the Internet at www.qltinc.com. To participate on the call, please dial 1-800-319-4610 (North America) or 604-638-5340 (International) before 8:30 a.m. ET. For those dialing in to the call, the presentation slides will be available 15 minutes prior to the call on QLT’s web site at www.qltinc.com. A replay of the call will be available via the Internet and also via telephone at 1-800-319-6413 (North America) or 604-638-9010 (International), access code 8762, followed by the “#” sign.

About QLT

QLT is an ocular-focused company dedicated to the development and commercialization of innovative ocular products that address the unmet medical needs of patients and clinicians worldwide. We are focused on developing our synthetic retinoid program for the treatment of certain inherited retinal diseases, developing drugs to be delivered in our proprietary punctal plug delivery system, as well as U.S. marketing of the commercial product Visudyne® (which we co-developed with Novartis) for the treatment of wet age-related macular degeneration. QLT’s head office is based in Vancouver, Canada and the Company is publicly traded on NASDAQ (symbol: QLTI) and the Toronto Stock Exchange (symbol: QLT). For more information about the Company’s products and developments, please visit our website at www.qltinc.com.

Visudyne® is a registered trademark of Novartis AG.

Eligard® is a registered trademark of Sanofi S.A.

Xalatan® is a registered trademark of Pfizer Health AB.

QLT Inc. is listed on The NASDAQ Stock Market under the trading symbol “QLTI” and on The Toronto Stock Exchange under the trading symbol “QLT.”

The QLT Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6933

Certain statements in this press release constitute “forward-looking statements” of QLT within the meaning of the Private Securities Litigation Reform Act of 1995 and constitute “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to: our financial guidance; statements concerning our clinical development programs and future plans, including plans for our proprietary punctal plug delivery platform (PPDS) and L-PPDS program and our QLT091001 synthetic retinoid program; expected progression of clinical development of these programs and any anticipated timing for development initiatives and receipt of results, including our assumptions related to initiation of new studies, current and future study enrollment and timing to treat and re-treat patients; statements concerning the potential benefits and success of our development programs and product candidates; and statements which contain language such as: “assuming,” “plan,” “potentially,” “prospects,” “future,” “projects,” “believes,” “expects” and “outlook.” Forward-looking statements are predictions only which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed in such statements. Many such risks, uncertainties and other factors are taken into account as part of our assumptions underlying these forward-looking statements and include, among others, the following: the Company’s future operating results are uncertain and likely to fluctuate; the risk that sales of Visudyne or Eligard® may be less than expected (including due to competitive products and pricing); uncertainties relating to the timing and results of the clinical development and commercialization of our products and technologies (including, but not limited to, Visudyne, our punctal plug technology and synthetic retinoid program); assumptions related to continued enrollment trends, efforts and success, and the associated costs of these programs; outcomes for our clinical trials (including our punctal plug technology and our synthetic retinoid program) may not be favorable or may be less favorable than interim results and/or previous trials; there may be varying interpretations of data produced by one or more of our clinical trials; the timing, expense and uncertainty associated with the regulatory approval process for products; risks and uncertainties associated with the safety and effectiveness of our technology; risks and uncertainties related to the scope, validity, and enforceability of our intellectual property rights and the impact of patents and other intellectual property of third parties; and general economic conditions and other factors described in detail in QLT’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Forward-looking statements are based on the current expectations of QLT and QLT does not assume any obligation to update such information to reflect later events or developments except as required by law.

This press release also contains “forward-looking information” that constitutes “financial outlooks” within the meaning of applicable Canadian securities laws. This information is provided to give investors general guidance on managements current expectations of certain factors affecting our business, including our financial results. Given the uncertainties, assumptions and risk factors associated with this type of information, including those described above, investors are cautioned that the information may not be appropriate for other purposes.

CONTACT: QLT Inc. Investor Relations Contact:
         David Climie
         VP, Investor Relations
         Telephone: 604-707-7573
         dclimie@qltinc.com

         QLT Inc. Media Contact:
         Karen Peterson
         Communications Specialist
         Telephone: 604-707-7000 or 1-800-663-5486
         kpeterson@qltinc.com

         The Trout Group Investor Relations Contact:
         Christine Yang (NY)
         Telephone: 646-378-2929
         cyang@troutgroup.com
         or
         Tricia Swanson (Boston)
         Telephone: 646-378-2953
         tswanson@troutgroup.com
Monday, August 29th, 2011 Uncategorized Comments Off on QLT (QLTI) Shows Positive 4 Week Efficacy in Phase II Study for Glaucoma Using Latanoprost Punctal Plug Delivery System

Vimicro (VIMC) to Benefit from Government Alliance to Drive the Adoption of the SVAC Digital-Surveillance Standard

BEIJING, Aug. 29, 2011 /PRNewswire-Asia-FirstCall/ — Vimicro International Corporation (NASDAQ: VIMC) (“Vimicro” or the “Company”), a leading multimedia semiconductor and IP-based surveillance solution provider, today announced that on August 25, 2011, five key government agencies formed an alliance to promote the adoption of the Surveillance Video and Audio Coding (SVAC) digital-surveillance standard on a national level.

(Logo: http://photos.prnewswire.com/prnh/20070528/CNM014LOGO )

The alliance is a non-profit organization devoted to accelerating the application and implementation of SVAC, as well as to popularize the standard and assist its industrialization process. Participating government agencies included: the Ministry of Public Security, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the Standardization Administration of China (SAC). During the alliance’s inaugural conference, Mr. Jian Li, the Director of the First Research Institute of the Ministry of Public Security, was elected chairman, and Vimicro’s Chairman and CEO, Dr. John Deng, was elected honorary Chairman and Chief Scientist by the government and industry leaders assembled to promote the SVAC standard. The representatives of the five agencies also delivered speeches at the gathering. One common theme was the continued commitment of the Chinese government to promote the standard nationwide to expand the application of SVAC to other areas such as the Internet of Things and to promote SVAC to become an international standard, among other topics discussed.

“The SVAC national standard was developed to solve the interoperability issues of current video-surveillance systems due to inconsistent source-coding standards. The SVAC national standard will play an important role in national security, the digital intelligent city, intelligent transportation, energy development, business, finance, healthcare and many other areas. The SVAC alliance will improve China‘s audio and video technology for the benefit of national security as well as our general industrial competitiveness, which in turn will encourage more users to purchase our members’ SVAC products,” commented Mr. Wei Sun, the head of the Technology, Information and Automation Department of the SAC.

Mr. Yiping Xie, head of the Technology and Information Bureau of the Ministry of Public Security added, “From a national innovation and independent intellectual-property perspective, the SVAC alliance creates a platform to develop the entire security and surveillance industry chain in China.”

As previously disclosed, the SVAC standard was co-developed by Vimicro and the first Research Institute of the Ministry of Public Security and it also benefited from the contributions of more than 40 scientific research institutes, universities and security-industry companies. The standard was officially released by the SAC on December 31, 2010. SVAC is the first technology standard designed to solve the unique needs of the surveillance industry. It has special significance for the establishment of China‘s public security and crime-prevention system. The implementation of the SVAC standard commenced on May 1, 2011, and it is the preferred protocol for government contracts and is available to all suppliers participating in the surveillance industry.

“This alliance creates the foundation for an exciting new era for the security video and audio-monitoring industry,” commented Dr. Deng. “As the co-initiator and co-developer of the SVAC standard, we believe Vimicro is well-situated to establish a leadership position in this growing field, and being elected as the Alliance’s honorary Chairman and Chief Scientist is a tremendous personal honor. I will devote my efforts to promote and develop the technology necessary for supporting the standard.”

About Vimicro International Corporation

Vimicro International Corporation is a leading multimedia semiconductor and solution provider that designs, develops and markets mixed-signal semiconductor products and system-level solutions that enable multimedia capabilities in a variety of products for the consumer electronics and communications markets. Vimicro is also expanding business into the surveillance market with system-level solutions and semiconductor products. Vimicro’s ADSs, each of which represents four ordinary shares, are currently trading on the NASDAQ Global Market under the ticker symbol “VIMC.”

Forward-Looking Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the quotations from management in this announcement, as well as Vimicro’s expectations and forecasts, contain forward-looking statements. Vimicro may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Vimicro’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the company’s ability to develop and sell new mobile multimedia products; the expected growth of the mobile multimedia market; the company’s ability to increase sales of notebook camera multimedia processors; the company’s ability to retain existing customers and acquire new customers and respond to competitive market conditions; the company’s ability to respond in a timely manner to the evolving multimedia market and changing consumer preferences and industry standards and to stay abreast of technological changes; the company’s ability to secure sufficient foundry capacity in a timely manner; the company’s ability to effectively protect its intellectual property and the risk that it may infringe on the intellectual property of others; and cyclicality of the semiconductor industry. Further information regarding these and other risks is included in Vimicro’s annual report on Form 20-F filed with the Securities and Exchange Commission. Vimicro does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of the date hereof, and Vimicro undertakes no duty to update such information, except as required under applicable law.

Company Contact:

Vimicro International Corporation

Mr. Anan Liu, Investor Relations Manager

Phone: +86 (10) 6894 8888 ext. 7453

E-mail: liuanan@vimicro.com

Ms. Sandy Song, IR Associate Manager

Phone: +86 (10) 6894 8888 ext. 7401

E-mail: songzheng@vimicro.com

www.vimicro.com

Investor Contact:

CCG Investor Relations

Mr. John Harmon, CFA, Sr. Account Manager

Phone: +86 (10) 6561-6886 ext. 807 (Beijing)

E-mail: john.harmon@ccgir.com

Mr. Roger Ellis, Senior Partner & SVP for M.I.

Phone: +1 (310) 954-1332 (Los Angeles)

E-mail: roger.ellis@ccgir.com

www.ccgir.com

Monday, August 29th, 2011 Uncategorized Comments Off on Vimicro (VIMC) to Benefit from Government Alliance to Drive the Adoption of the SVAC Digital-Surveillance Standard

Gulf Resources (GURE) Receives Relocation Compensation for Factory No. 4

SHANDONG, China, Aug. 25, 2011 /PRNewswire-Asia-FirstCall/ — Gulf Resources, Inc. (Nasdaq:GURENews) (“Gulf Resources” or the “Company”), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced that the Company’s subsidiary Shouguang City Haoyuan Chemical Ltd. Co. has signed a compensation agreement with the local government of Yangkou Town, Shouguang City, PRC for costs related to the relocation of the Company’s Factory No. 4 on August 22, 2011.

In mid-May 2011, the government requested to recall the leased land, where the Company’s original Factory No. 4 was located, for civil redevelopment and agreed to lease another parcel of land to the Company nearby to the existing Factory No. 4. The operations of the original Factory No. 4 stopped in early July 2011 as the original facilities were demolished and useful plants and machineries were relocated to the new factory.

The local government of Yangkou Town, Shouguang City has agreed to compensate the company RMB 8,599,835 (approximately USD 1.3 million) for its Factory No. 4 relocation expenses and maintenance cost. The Company expects that the new Factory No. 4 will be in operations before the end of 2011.

About Gulf Resources, Inc.

Gulf Resources, Inc. operates through two wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company Limited (“SCHC”) and Shouguang Yuxin Chemical Industry Co., Limited (“SYCI”). The Company believes that it is one of the largest producers of bromine in China. Elemental Bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture. Through SYCI, the Company manufactures chemical products utilized in a variety of applications, including oil & gas field explorations and as papermaking chemical agents. For more information about the Company, please visit http://www.gulfresourcesinc.cn/.

Forward-Looking Statements

Certain statements in this news release contain forward-looking information about Gulf Resources and its subsidiaries business and products within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. The actual results may differ materially depending on a number of risk factors including, but not limited to, the general economic and business conditions in the PRC, future product development and production capabilities, shipments to end customers, market acceptance of new and existing products, additional competition from existing and new competitors for bromine and other oilfield and power production chemicals, changes in technology, the ability to make future bromine asset purchases, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in the Companys reports filed with the Securities and Exchange Commission. Gulf Resources undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

Gulf Resources, Inc.

CCG Investor Relations Inc.

Helen Xu

Linda Salo, Account Manager

Email: beishengrong@vip.163.com

Phone: +1-646-922-0894

Web: http://www.gulfresourcesinc.cn

Email: linda.salo@ccgir.com

Crocker Coulson, President

Phone: +1-646-213-1915

Email: crocker.coulson@ccgir.com

Web: http://www.ccgirasia.com

Thursday, August 25th, 2011 Uncategorized Comments Off on Gulf Resources (GURE) Receives Relocation Compensation for Factory No. 4

Midway (MDW) Reports Long Gold Intercepts at Spring Valley Project, Nevada

DENVER–(BUSINESS WIRE)– Midway Gold Corp. (“Midway” or the “Company”) (MDW:TSX-V; MDW:NYSE-AMEX) announces second quarter results calculated from data provided by Barrick Gold Exploration Inc. (“Barrick”), who is earning into Midway’s Spring Valley Project, Nevada. Drill results are from holes that test the northern extent of the known resource and holes that test the area acquired late last year that is to the south of the known resource. The drilling reported in this press release shows gold assays extend the gold zone at least 1.7 kilometers to the southwest of the previously known resource area over a width of approximately 0.5 kilometers.

In the north, long and high grade gold intercepts extend northward the gold zone hosted in feldspar porphyry and include 201 meters of 0.82 grams per tonne (gpt) gold in SV11-515; and 94 meters of 1.06 gpt gold in SV11-517. In the same area, SV11-514 encountered multiple intercepts including 47 meters of 0.72 gpt gold and 18 meters of 1.20 gpt gold. Higher grade intercepts included 1.5 meters of 7.30 gpt gold and 1.5 meters of 6.89 gpt gold in SV11-514, and 9.1 meters of 4.70 gpt gold in SV11-515.

In the south, reconnaissance drilling in widely spaced holes beginning immediately adjacent to the resource area extends the potential for mineralization to an area 1.7 km long by 0.5 km wide for a total strike length of more than 3.5 kilometers long, including the known resource reported last year. Initial results, along with results from SV10-499 reported earlier, suggest that a widespread gold system may exist on land acquired in 2010. The most recent hole drilled furthest to the south, SV11-534, encountered 30.5 meters of 0.89 gpt gold. Higher grade intercepts included 1.5 meters of 15.91 gpt gold in SV11-521, 1.5 meters of 9.46 gpt gold in SV11-530, and 4.6 meters of 7.47 gpt gold in SV11-534. Assays are pending on additional holes in this area.

“We are very pleased to report these long and high grade gold intercepts which expand Spring Valley’s resource potential in two directions. We are particularly pleased about the gold intercepts found south of the resource area on the lands acquired late last year that had not been drilled,” said Ken Brunk, President and COO of Midway. “Spring Valley has the ear marks of a world class gold system. Additional drilling will be needed to confirm the findings of this widely spaced program.”

Spring Valley is a large, porphyry-hosted gold system. A May, 2011 updated resource estimate reported 2.16 million ounces of gold in the combined Measured and Indicated categories at a cut-off grade of 0.14 gpt. There is an additional Inferred resource of 1.97 million ounces of gold at the same cut-off grade. The Measured resource is 0.93 million ounces contained within 59.0 million tonnes grading 0.49 gpt, the Indicated resource is 1.23 million ounces contained within 85.8 million tonnes grading 0.45 gpt, and the Inferred resource is contained within 103.9 million tonnes grading 0.59 gpt. The estimate was prepared for Midway by Gustavson Associates, LLC of Lakewood, Colorado (Midway press release dated May 2, 2011).

Significant New Drill Hole Gold Assay Intercepts – Spring Valley Project, Nevada
(Calculated by Midway from data provided by Barrick)
Hole From m To m Width m Grade gpt
SV10-503c 97.7 100.8 3.0 1.99
135.0 175.4 40.4 0.99
SV10-504c 133.8 135.3 1.5 1.10
219.0 227.2 8.2 0.41
237.4 238.7 1.2 1.06
Additional assays pending
SV10-507c 71.6 85.3 13.7 2.37
285.9 297.2 11.3 1.71
includes 1.5 11.35
335.3 336.5 1.2 1.82
373.4 375.8 2.4 1.17
SV11-514 120.4 143.3 22.9 0.75
includes 1.5 7.30
155.4 164.6 9.1 0.45
196.6 210.3 13.7 0.93
239.3 245.4 6.1 1.03
306.3 353.6 47.2 0.72
365.8 384.0 18.3 1.20
includes 1.5 6.89
SV11-515 193.5 210.3 16.8 0.34
231.6 432.8 201.2 0.82
includes 9.1 4.70
SV11-517 120.4 128.0 7.6 0.51
160.0 254.5 94.5 1.06
SV11-518 102.1 103.6 1.5 3.91
286.5 288.0 1.5 2.50
457.2 475.5 18.3 0.99
501.4 502.9 1.5 3.94
SV11-521 170.7 173.7 3.0 10.01
includes 1.5 15.91
224.0 233.2 9.1 0.45
371.9 373.4 1.5 6.07
492.3 498.3 6.1 0.99
510.5 513.6 3.0 1.54
SV11-523 24.4 30.5 6.1 1.47
SV11-525 179.8 202.7 22.9 0.72
217.9 225.6 7.6 0.38
365.8 367.3 1.5 4.59
SV11-530 172.2 173.7 1.5 6.69
207.3 208.8 1.5 9.46
SV11-534 86.9 91.4 4.6 7.47
378.0 379.5 1.5 3.26
402.3 432.8 30.5 0.89

Reverse circulation drilling was conducted by Hard Rock Drilling of Elko, Nevada. Core drilling was conducted by TonaTec Exploration of Mapleton, Utah. Drill hole numbers ending with a “C” indicate core holes. Samples were assayed by ALS-Chemex Labs, in Sparks, Nevada by 30-gram fire assays (FA) or 1000-gram metallic screen assays (MS). Results reported represent thickness along the trace of the drill hole and do not necessarily represent true thickness.

Please click on the following link to view the Spring Valley Q2 Drill Holes and Results:
http://www.usetdas.com/pr/midwaypicture08252011.jpg

Drilling for 2011 commenced in early April and there is currently one reverse circulation (RC) rig and one core rig operating on the property. A total of 7,079 meters of RC and 2,363 meters of core in 24 holes were completed through June. Results reported in this news release include core holes SV10-503c and SV10-504c that were drilled at the end of 2010. Hole SV10-507c was started in 2010 and completed in 2011 (See table above). Final metallic screen assay results have been received for 5 holes, the remaining assay results are from preliminary fire assays. Metallic screen assays analyze a larger quantity of the sample and are more reliable when coarse gold is present.

Barrick can earn a 60% interest in the project by completing work expenditures totaling US$30 million before December 31, 2013 under the terms of an agreement executed between Midway and Barrick on March 9, 2009. Barrick has informed Midway that it intends to conduct and fund the required program of US$7 million in 2011, resulting in cumulative expenditures of US$16 million by December 31, 2011.

Data reported to Midway by Barrick and disclosed in this press release have been reviewed for Midway by William S. Neal, (M.Sc., CPG), a “Qualified Person” as that term is defined in National Instrument 43-101.

ON BEHALF OF THE BOARD
“Kenneth A. Brunk”
Kenneth A. Brunk, President, COO and Director

About Midway Gold Corp.

Midway Gold Corp. is a precious metals company with a vision to explore, design, build, and operate gold mines in a manner accountable to all stakeholders while producing an acceptable return to its shareholders. For more information about Midway, please visit our website at www.midwaygold.com or contact R.J. Smith, Vice President of Administration, at (877) 475-3642 (toll-free).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements about the Company and its business. Forward looking statements are statements that are not historical facts and include, but are not limited to, statements about the Company’s intended work plans for the Spring Valley project and resource estimates. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company’s actual results or achievements to differ materially from those expressed in or implied by forward looking statements. These risks, uncertainties and other factors include, without limitation, risks related to the timing and completion of the Company’s intended work plans for the Spring Valley project, risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company’s properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources and reserves; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; and other factors identified in the Company’s SEC filings and its filings with Canadian securities regulatory authorities. Forward-looking statements are based on the beliefs, opinions and expectations of the Company’s management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change.

Cautionary note to U.S. investors concerning estimates of reserves and resources: This press release and the technical report referred to in this press release use the terms “resource”, “reserve”, “measured resources”, “indicated resources” and “inferred resources”, which are terms defined under Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. Estimates of mineral resources in this press release and in the technical report referred to in this press release have been prepared in accordance with NI 43-101 and such definitions differ from the definitions in U.S. Securities and Exchange Commission (“SEC”) Industry Guide 7. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. Mineral resources are not mineral reserves and do not have demonstrated economic viability. We advise investors that while those terms are recognized and required by Canadian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves as defined in the SEC’s Guide 7. In addition, “inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit measures. It cannot be assumed that all or any part of mineral deposits in any of the above categories will ever be upgraded to Guide 7 compliant reserves. Accordingly, disclosure in this press release and in the technical reports referred to in this press release may not be comparable to information from U.S. companies subject to the reporting and disclosure requirements of the SEC.

Thursday, August 25th, 2011 Uncategorized Comments Off on Midway (MDW) Reports Long Gold Intercepts at Spring Valley Project, Nevada

U.K. Asset Management and Financing Group Signs Agreement to Implement NetSol’s (NTWK) Leasesoft Asset Software

CALABASAS, Calif. ,  Aug. 24, 2011  (GLOBE NEWSWIRE) —  NetSol Technologies, Inc.  (Nasdaq:NTWK), a worldwide provider of global IT and enterprise application solutions, today announced that it has signed an agreement to implement its Leasesoft Asset system for an Asset Management and  Financing Company  that provides business finance and leasing to clients across industries throughout the  United Kingdom .

“This contract was deferred from the last fiscal year, but customers are continuing to regain confidence in the company’s ability to provide robust and cost-effective solutions despite geopolitical pressures,” said  Naeem Ghauri , president of NetSol Americas and  Europe . “We are seeing increasing evidence in the  U.K.  that more companies in the business financing and leasing arena are interested in reinvesting in our systems, and the selection of  NetSol  for this project underscores our experience and leadership in the  U.K.  market.”

The name of the company and total value of the agreement were not disclosed as per the customer’s request, although  NetSol  said the contract includes product licenses, business processes consultancy and on-site implementation services. Additional revenue streams include maintenance,support and product enhancements.  NetSol  anticipates recognizing revenues for the entire value of the contract by  June 30, 2012 .

About  NetSol Technologies

NetSol Technologies, Inc.  (
www.netsoltech.com) is a worldwide provider of global IT and enterprise application solutions that include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Leasing, Insurance, Energy, and Technology markets. Headquartered in  Calabasas, Calif. ,  NetSol’s  product and services offerings have achieved ISO 9001, ISO 20000, ISO 27001, and SEI ( Software Engineering Institute ) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by only 178 companies worldwide. The company’s clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies.  Netsol  has delivery and support locations in  San Francisco ,  London ,  Beijing ,  Bangkok ,  Lahore ,  Adelaide  and  Riyadh .

Investors can receive news releases and invitations to special events by accessing our online signup form at
http://bit.ly/NetSol_Investor_Signup_Form.

The  NetSol Technologies, Inc.  logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=9832

Forward-Looking Statements

This press release may contain forward-looking statements relating to the development of the Company’s products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The word “anticipates,” variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company’s actual results include the progress and costs of the development of products and services and the timing of the market acceptance. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.

CONTACT:  PondelWilkinson Inc.   Evan Pondel  (310) 279-5973 investors@netsoltech.com

Wednesday, August 24th, 2011 Uncategorized Comments Off on U.K. Asset Management and Financing Group Signs Agreement to Implement NetSol’s (NTWK) Leasesoft Asset Software

SIGA (SIGA) Awarded a $7.7 Million Grant for the Development of Antiviral Drugs for Arenaviruses

NEW YORK, Aug 24, 2011 (GlobeNewswire via COMTEX) — SIGA Technologies, Inc. (SIGA), a company specializing in the development of pharmaceutical agents to fight bio-warfare pathogens, announced today that it has been awarded a $7.7 million grant from the National Institutes of Health (NIH) to develop an antiviral drug for treating and preventing Lassa fever and other hemorrhagic fevers of Arenavirus origin.

Dr. Eric A. Rose, SIGA’s Chairman and Chief Executive Officer, commented, “This grant is a continuation of our vibrant, long-term relationship with NIH, and it highlights the strength and diversity of our drug development program.”

Dr. Dennis Hruby, SIGA’s Chief Scientific Officer, added, “This grant is similar to the $6.5 million grant for dengue fever drug development awarded to SIGA in May in that both grants are expected to fund development activities that will lead to an investigational new drug application (“IND”) that SIGA can file with the FDA.”

About SIGA Technologies, Inc.

In the United States and around the world, populations face a serious but unmet need for drugs to protect against potentially catastrophic emerging viral pathogens and biological weapons of mass destruction. SIGA Technologies, Inc. is a pharmaceutical company specializing in the development and commercialization of therapeutic solutions for some of the most lethal disease-causing pathogens in the world, including smallpox, Ebola, dengue, Lassa fever and other dangerous viruses. Our business is to discover, develop and commercialize drugs to prevent and treat these high-priority threats. Our mission is to disarm dreaded viral diseases and create robust, modern biodefense countermeasures. For more information about SIGA, please visit SIGA’s web site at www.siga.com.

The SIGA Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4504

Forward-looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements relating to the safety and efficacy of its current or anticipated products, the progress of its development programs and timelines for bringing products to market. Forward-looking statements are based on management’s estimates, assumptions and projections, and are subject to uncertainties, many of which are beyond the control of SIGA. Actual results may differ materially from those anticipated in any forward-looking statement. Factors that may cause such differences include (i) the risk that potential products that appear promising to SIGA or its collaborators cannot be shown to be efficacious or safe in subsequent pre-clinical or clinical trials, (ii) the risk that SIGA or its collaborators will not obtain appropriate or necessary governmental approvals to market these or other potential products, (iii) the risk that SIGA may not be able to obtain anticipated funding for its development projects or other needed funding, (iv) the risk that SIGA may not be able to secure funding from anticipated or current government contracts and grants, (v) the risk that SIGA may not be able to secure or enforce sufficient legal rights in its products, including patent protection, (vi) the risk that any challenge to our patent and other property rights, if adversely determined, could affect our business and, even if determined favorably, could be costly, (vii) the risk that regulatory requirements applicable to SIGA’s products may result in the need for further or additional testing or documentation that will delay or prevent seeking or obtaining needed approvals to market these products, (viii) the risk that one or more protests may be filed or upheld under any government contract or grant in whole or in part, leading to a delay or denial of the contract or grant, (ix) the risk that the volatile and competitive nature of the biotechnology industry may hamper SIGA’s efforts, (x) the risk that the changes in domestic and foreign economic and market conditions may adversely affect SIGA’s ability to advance its research or its products, and (xi) the effect of federal, state, and foreign regulation, including drug regulation and international trade regulation, on SIGA’s businesses. More detailed information about SIGA and risk factors that may affect the realization of forward-looking statements, including the forward-looking statements in this presentation, is set forth in SIGA’s filings with the Securities and Exchange Commission, including SIGA’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010, and in other documents that SIGA has filed with the SEC. SIGA urges investors and security holders to read those documents free of charge at the SEC’s Web site at http://www.sec.gov. Interested parties may also obtain those documents free of charge from SIGA. Forward-looking statements speak only as of the date they are made, and except for our ongoing obligations under the federal securities laws, we undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future events or otherwise.

Wednesday, August 24th, 2011 Uncategorized Comments Off on SIGA (SIGA) Awarded a $7.7 Million Grant for the Development of Antiviral Drugs for Arenaviruses

ATP (ATPG) Delivers Production Success From Third Well at Telemark Hub

ATP Oil & Gas Corporation (NASDAQ:ATPG) today announced first oil production at its Mississippi Canyon (“MC”) Block 941 A-2 (#4) well in the deepwater Gulf of Mexico. The MC Block 941 A-2 well is located on the Mirage Field and is the third well brought on production at the Telemark Hub location utilizing the ATP Titan floating drilling and production platform. The well delivered on ATP’s original expectations with an initial rate exceeding 7,000 Boe per day. When drilled, the A-2 well encountered four Miocene sands that are approximately 500 feet structurally higher than the same sands in the MC 941 A-1 well. The A-2 well is completed at a measured depth of 17,600 feet in the C and D sands. All permits to immediately begin drilling the fourth well, MC 942 #2, have been approved with production projected later this year. Company-wide production now exceeds 31,000 Boe per day.

“Bringing the third Telemark Hub well to first production again demonstrates ATP’s technical expertise and safe operations in the deepwater Gulf of Mexico,” said T. Paul Bulmahn, ATP Chairman and CEO. “We have finally realized the planned material production revenue of this well that has been much anticipated for 16 months. This well was already drilled to 12,000 feet and cased prior to the Macondo spill and became subject to the moratorium. The greater-than-a-billion-dollar investment at Telemark reflects ATP’s continuing commitment to develop America’s energy resources.”

ATP operates the deepwater Telemark Hub in approximately 4,000 feet of water with a 100% working interest and holds a 100% ownership in ATP Titan LLC which owns the ATP Titan and associated pipelines and infrastructure.

About ATP Oil & Gas Corporation

ATP Oil & Gas is an international offshore oil and gas development and production company focused in the Gulf of Mexico, Mediterranean Sea and North Sea. The company trades publicly as ATPG on the NASDAQ Global Select Market. For more information about ATP Oil & Gas Corporation, visit www.atpog.com.

Forward-looking Statements

Certain statements included in this news release are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. ATP cautions that assumptions, expectations, projections, intentions, or beliefs about future events may, and often do, vary from actual results and the differences can be material. Some of the key factors which could cause actual results to vary from those ATP expects include changes in natural gas and oil prices, the timing of planned capital expenditures, availability of acquisitions, uncertainties in estimating proved reserves and forecasting production results, operational factors affecting the commencement or maintenance of producing wells, the condition of the capital markets generally, as well as the company’s ability to access them, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting ATP’s business. More information about the risks and uncertainties relating to ATP’s forward-looking statements is found in the company’s SEC filings.

SOURCE: ATP Oil & Gas Corporation

ATP Oil & Gas Corporation, Houston
T. Paul Bulmahn, 713-622-3311
Chairman and CEO
or
Albert L. Reese Jr., 713-622-3311
Chief Financial Officer
www.atpog.com
Wednesday, August 24th, 2011 Uncategorized Comments Off on ATP (ATPG) Delivers Production Success From Third Well at Telemark Hub

EDAP (EDAP) Partnership Wins EUR 2.4 Million Grant

LYON, France, Aug. 24, 2011 (GLOBE NEWSWIRE) — EDAP TMS SA (Nasdaq:EDAP), the global leader in therapeutic ultrasound, announced today that its development partnership has been awarded a EUR 2.4 million grant for further development of Ablatherm-HIFU technology to incorporate improved imaging and diagnostic techniques in line with the focal therapy approach for treating localized prostate cancer. The development partnership, comprised of EDAP, Edouard Herriot Hospital, and SuperSonic Imagine, received the highly competitive grant from Fonds Unique Interministerial (FUI), a French government fund for advancing technical innovation with short and midterm market applications, together with Regional Councils Grand Lyon, PACA, Competitive Clusters Lyonbiopole and Eurobiomed.

Emmanuel Blanc, Chief Technical Officer of EDAP, commented, “Prostate cancer is a multi-focal disease and precise detection of all cancer foci remains a significant challenge in the focal treatment for prostate cancer. The project aims at matching the precision of Ablatherm-HIFU with next generation diagnostic and imaging techniques, combining MRI detection for patient selection with advanced ultrasound imaging for real time monitoring and efficacy control.”

The Edouard Herriot University Hospital is a long term partner of EDAP and brings to the venture sound clinical experience in the HIFU treatment of prostate cancer, as well as a strong expertise in radiology practice, including MRI and contrast-enhanced ultrasound. SuperSonic Imagine is a recognized leader in advanced ultrasound techniques and has developed a unique elastography platform with the capability to provide true local assessment of tissue elasticity.

Marc Oczachowski, Chief Executive Officer of EDAP, concluded, “We are proud that our partnership won this grant, as it is another strong recognition and validation of EDAP as the leading player in the development of HIFU. This project, aimed at developing better imaging solutions that will be integrated in our device, will help advance the focal therapy approach for the prostate cancer treatment. It will strengthen Ablatherm-HIFU’s position as the premier gold standard for the non-invasive treatment of prostate cancer in line with current and future therapeutic strategies.”

About EDAP TMS SA

EDAP TMS SA develops and markets Ablatherm(R), the most advanced and clinically proven choice for high-intensity focused ultrasound (HIFU) treatment of localized prostate cancer. HIFU treatment is shown to be a minimally invasive and effective treatment option with a low occurrence of side effects. Ablatherm-HIFU is generally recommended for patients with localized prostate cancer (stages T1-T2) who are not candidates for surgery or who prefer an alternative option, or for patients who failed radiotherapy treatment. Approved in Europe as a treatment for prostate cancer, Ablatherm-HIFU (High Intensity Focused Ultrasound) is currently undergoing evaluation in a multi-center U.S. Phase II/III clinical trial under an Investigational Device Exemption (IDE) granted by the FDA, the ENLIGHT U.S. clinical study. The Company also is developing this technology for the potential treatment of certain other types of tumors. EDAP TMS SA also produces and commercializes medical equipment (the Sonolith(R) range) for treatment of urinary tract stones using extra-corporeal shockwave lithotripsy (ESWL).

For more information on the Company, please visit http://www.edap-tms.com, and http://www.hifu-planet.com.

About SuperSonic Imagine

Founded in 2005 and based in Aix-en-Provence, France, SuperSonic Imagine is an innovative, multinational medical imaging company dedicated to developing a revolutionary ultrasound system: the Aixplorer(R). This system leverages a unique MultiWave(TM) technology that enables the user to detect, characterize and, in the future, treat palpable and non-palpable masses. This unique technology is based on combining two types of waves: an ultrasound wave that provides exceptional imaging in B-mode, and a shear wave which measures and displays the stiffness of tissue in kilopascals (ShearWave Elastography(TM)). The company now has offices in Aix-en-Provence, Seattle, London and Munich. SuperSonic Imagine holds the exclusive right, title and interest to 25 international patents and submissions in diagnostic imaging and therapy applications.

www.supersonicimagine.com

About Edouard Herriot Hospital

Edouard Herriot Hospital is a University Hospital based in Lyon and owned by Hospices Civils de Lyon (HCL). HCL is a Group owning several hospitals and clinics in the Lyon area.

www.chu-lyon.fr

About Grand Lyon

Grand Lyon is the Greater Lyon Urban Community with prominent responsibilities to promote economic development in the region and support innovation through competitive clusters.

www.business.greaterlyon.com

About Lyonbiopole

Lyonbiopole is a world competitive cluster accredited in 2005. Center of Excellence in vaccines and diagnostics, it is focused on the fight against human and animal infectious diseases and cancers. Since inception, Lyonbiopole’s main mission is to stimulate public and private R & D collaborations.

www.lyonbiopole.org

About Eurobiomed

Eurobiomed is a non-for-profit organisation which has been accredited by the French government as one of the eight Biotech & Pharma “Competitive Clusters” in France. Eurobiomed federates healthcare stakeholders in “Provence-Alpes-Cote d’Azur” and “Languedoc-Roussillon” counties.

www.eurobiomed.org

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements that involve risks and uncertainties. These include statements regarding the Company’s growth and expansion plans, the conclusiveness of the results of and success of its Ablatherm-HIFU clinical trials, expectations regarding the IDE submission to and approval by the FDA of the Ablatherm-HIFU device and the market potential for the Sonolith i-move device. Such statements are based on management’s current expectations and are subject to a number of uncertainties, including the uncertainties of the regulatory process, and risks that could cause actual results to differ materially from those described in these forward-looking statements. Factors that may cause such a difference include, but are not limited to, those described in the Company’s filings with the Securities and Exchange Commission and in particular, in the sections “Cautionary Statement on Forward-Looking Information” and “Risk Factors” in the Company’s Annual Report on Form 20-F. Ablatherm-HIFU treatment is in clinical trials, but not FDA-approved or marketed in the United States.

Contact:

Blandine Confort
Investor Relations / Legal Affairs
EDAP TMS SA
+33 4 72 15 31 72
bconfort@edap-tms.com
Investors:
Stephanie Carrington
The Ruth Group
646-536-7017
scarrington@theruthgroup.com
Wednesday, August 24th, 2011 Uncategorized Comments Off on EDAP (EDAP) Partnership Wins EUR 2.4 Million Grant

IMRIS (IMRS) Sells IMRISneuro and iCT Systems to a Single U.S. Customer

WINNIPEG, Aug. 24, 2011 /PRNewswire/ – IMRIS Inc. (NASDAQ: IMRS; TSX: IM) (“IMRIS” or the “Company”) today announced the sale of two systems, consisting of an IMRISneuro and an iCT system to a single confidential U.S. customer during the first 45 days of the third quarter ending September 30, 2011.

The installation will include an IMRISneuro system delivering on demand intraoperative MR imaging and an iCT system that will provide intraoperative computed tomography imaging capabilities.

About IMRIS

IMRIS (NASDAQ: IMRS; TSX: IM) is a global leader in providing image guided therapy solutions. These solutions feature fully integrated surgical and interventional suites that incorporate magnetic resonance, fluoroscopy and computed tomography to deliver on demand imaging during procedures. The Company’s systems serve the neurosurgical, cardiovascular and neurovascular markets and have been selected by leading medical institutions around the world.

Wednesday, August 24th, 2011 Uncategorized Comments Off on IMRIS (IMRS) Sells IMRISneuro and iCT Systems to a Single U.S. Customer

Peregrine (PPHM) Reports Promising 20.7 Month Median Overall Survival From Phase II Advanced Breast Cancer Trial

TUSTIN, CA — (Marketwire) — 07/14/11 — Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM), a clinical-stage biopharmaceutical company developing first-in-class monoclonal antibodies for the treatment of cancer and viral infections, today announced financial results for the fourth quarter and fiscal year (FY) 2011 ended April 30, 2011 and provided an update on its advancing clinical pipeline and other corporate developments.

“During this fiscal year, we advanced our clinical pipeline significantly by reporting promising clinical data from five trials and launching four new randomized Phase II trials and four investigator-sponsored trials for our lead clinical product bavituximab, building for what we expect to be an exciting fiscal year 2012,” said Steven W. King, president and chief executive officer of Peregrine. “Our primary focus for the second half of this year is to continue advancing our three Phase II clinical programs for bavituximab and Cotara® and to reach important and potentially value-building clinical and regulatory milestones. This effort will be led by our management team, which has been expanded with additional clinical, quality, and manufacturing experts with experience in developing and commercializing biological therapies similar to our bavituximab and Cotara programs.”

Clinical Program Update

Bavituximab Clinical Trials

In four ongoing randomized Phase II trials, Peregrine is evaluating bavituximab’s broad therapeutic potential in non-small cell lung cancer, pancreatic cancer, and hepatitis C virus (HCV) infections. Bavituximab is a first-in-class monoclonal antibody that targets the highly immunosuppressive molecule phosphatidylserine (PS), enabling the immune system to recognize and fight cancer and viral infections.

--  Phase II front-line NSCLC trial evaluating bavituximab with carboplatin
    and paclitaxel versus carboplatin and paclitaxel.  Enrollment of up to
    86 patients is expected to be completed over the next few weeks with
    interim data expected by the end of this year.  Last month, Peregrine
    reported promising 12.4 months median overall survival (OS) from a
    prior single-arm Phase II trial using this same therapeutic regimen in
    49 front-line NSCLC patients.  The OS was consistent with encouraging
    earlier data, including 43% objective response rate (ORR) and 6.1
    months median progression-free survival (PFS).  These data exceed the
    10.3 month OS, 15% ORR, and 4.5 months PFS reported from a separate
    historic control trial evaluating carboplatin and paclitaxel alone in a
    similar patient population.

--  Phase II second-line non-small cell lung cancer (NSCLC) trial
    evaluating bavituximab with docetaxel versus docetaxel plus placebo.
    Peregrine has modified patient enrollment criteria and has 37 sites
    open in the U.S. and internationally and expects to complete enrollment
    of up to 120 patients early in the fourth quarter of this year.  The
    primary endpoint for this study is overall response rate and these data
    are expected to be unblinded in the first half of 2012.  Secondary
    endpoints include median OS and median PFS.

--  Phase II pancreatic cancer trial evaluating bavituximab with
    gemcitabine versus gemcitabine is currently enrolling up to 70 patients
    with previously untreated stage IV pancreatic cancer.

--  Phase II trial in patients with previously untreated genotype-1
    hepatitis C virus (HCV) infection, Peregrine is measuring the early
    virologic response (EVR) rate after 12 weeks of therapy with
    bavituximab in combination with ribavirin versus standard of care,
    pegylated interferon alpha 2a and ribavirin.

To further evaluate bavituximab’s broad potential in additional oncology indications and therapeutic combinations, Peregrine’s investigator-sponsored trials (IST) program has four currently enrolling clinical trials.

--  Phase I/II trial evaluating bavituximab combined with sorafenib in
    approximately 50 patients with advanced liver cancer.  This IST is
    being conducted at University of Texas Southwestern Medical Center.

--  Phase I/II trial evaluating bavituximab combined with cabazitaxel in 31
    patients with second-line castration resistant prostate cancer (CRPC).
    This IST is being conducted at the University of California, Irvine.

--  Phase Ib trial evaluating bavituximab combined with pemetrexed and
    carboplatin in up to 25 front-line NSCLC patients.  This IST is being
    conducted at the University of North Carolina at Chapel Hill.

--  Phase I trial evaluating bavituximab combined with paclitaxel in
    patients with HER2-negative metastatic breast cancer.  This IST is
    being conducted at the Arizona Cancer Center at UMC North.

Cotara® Phase II Brain Cancer Program

At the Annual Meeting of the American Society of Clinical Oncology (ASCO) in June, Peregrine reported promising interim OS data of 8.8 months (38 weeks) from a Phase II trial treating 41 patients with recurrent glioblastoma multiforme (GBM) with a single infusion of Cotara. Cotara is a targeted monoclonal antibody linked to a radioisotope that is administered as a single-infusion treatment directly into the tumor, destroying the tumor from the inside out, with minimal exposure to healthy tissue. Peregrine plans to meet with the FDA in the fourth quarter of 2011 to determine the optimal registration pathway for Cotara.

For more information on Peregrine’s clinical trials, please visit http://www.peregrinetrials.com.

Preclinical Research

At a keynote address at the Informa Life Sciences Recombinant Antibodies Conference in May, Dr. Philip Thorpe, inventor of Peregrine’s PS-targeting antibody technology, presented new data on the immune reactivation mechanisms of bavituximab.

At the Annual meeting of the American Association for Cancer Research in April, Peregrine and its collaborators presented four posters highlighting the broad therapeutic and diagnostic potential of bavituximab and other PS-targeting antibodies.

Financial Results

Total revenues for the fourth quarter of FY 2011 were $2,729,000, compared to $4,420,000 for the same quarter of the prior fiscal year. For FY 2011, total revenues were $13,492,000, compared to $27,943,000 for the prior year. The decrease was primarily attributed to a reduction in government contract revenue and lower contract manufacturing revenue from Peregrine’s subsidiary Avid Bioservices, due to a decrease in number of completed manufacturing runs for its third-party clients and the timing of lot release to clients.

Contract manufacturing revenues from Avid’s clinical and commercial biomanufacturing services provided to its third-party clients were $8,502,000 for fiscal year 2011, within Peregrine’s previous guidance range, compared to $13,204,000 for fiscal year 2010. Peregrine expects contract manufacturing revenues for fiscal year 2012 to be in-line with fiscal year 2011. In addition to providing biomanufacturing services to its clients, Avid will continue to utilize available capacity and resources to continue its preparation for later-stage clinical development and potential commercialization of bavituximab and Cotara.

Total costs and expenses in the fourth quarter of FY 2011 were $12,683,000, compared to $11,989,000 in the fourth quarter of FY 2010. For FY 2011, total costs and expenses were $48,179,000, compared to $41,556,000 for the prior fiscal year. This increase primarily was attributable to higher research and development costs to support Peregrine’s advancing randomized Phase II clinical trials for bavituximab and higher general and administrative expenses needed to support later-stage clinical development. For the fourth quarter FY 2011, research and development expenses were $7,998,000, compared to $7,130,000 for the fourth quarter of FY 2010, and for FY2011 were $29,462,000, compared to $24,658,000 for FY 2010.

Peregrine’s consolidated net loss was $10,014,000, or $0.15 per share, for the fourth quarter of FY 2011, compared to a net loss of $7,741,000 or $0.16 per share, for the same quarter of the prior year. For FY 2011, net loss was $34,151,000, or $0.56 per share, compared to $14,494,000, or $0.30 per share, for FY 2010.

Peregrine reported $23,075,000 in cash and cash equivalents at April 30, 2011, compared to $24,068,000 at January 31, 2011 and $19,681,000 at fiscal year ended April 30, 2010.

More detailed financial information and analysis may be found in Peregrine’s Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission today.

Conference Call

Peregrine will host a conference call and webcast today, July 14, 2011, at 4:30 p.m. EDT (1:30 p.m. PDT).

--  To listen to the live webcast or access the archived webcast available
    for 30 days, please visit: http://ir.peregrineinc.com/events.cfm.
--  To listen to the conference call, please call (877) 312-5443 or
    (253) 237-1126 and request the Peregrine Pharmaceuticals call. A replay
    of the call will be available starting approximately two hours after
    the conclusion of the call through July 28, 2011 by calling
    (800) 642-1687 or (706) 645-9291 and using passcode 79032398.

About Peregrine Pharmaceuticals

Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative monoclonal antibodies in clinical trials for the treatment of cancer and serious viral infections. The company is pursuing multiple clinical programs in cancer and hepatitis C virus infection with its lead product candidate bavituximab and novel brain cancer agent Cotara®. Peregrine also has in-house cGMP manufacturing capabilities through its wholly-owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and biomanufacturing services for both Peregrine and outside customers. Additional information about Peregrine can be found at www.peregrineinc.com.

Safe Harbor Statement: Statements in this press release which are not purely historical, including statements regarding Peregrine Pharmaceuticals’ intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk the company may experience delays in clinical trial patient enrollment, the risk that the results of the Phase II clinical trials may not correlate with the results from prior clinical and preclinical studies, the risk that the company may not have or be able to raise sufficient financial resources to complete the Phase II trials, the risk that Avid’s revenue growth may slow or decline, the risk that Avid may experience technical difficulties in processing customer orders which could delay delivery of products to customers and receipt of payment, and the risk that one or more existing Avid customers terminates its contract prior to completion. It is important to note that the Company’s actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties associated with completing preclinical and clinical trials for our technologies; the early stage of product development; the significant costs to develop our products as all of our products are currently in development, preclinical studies or clinical trials; obtaining additional financing to support our operations and the development of our products; obtaining regulatory approval for our technologies; anticipated timing of regulatory filings and the potential success in gaining regulatory approval and complying with governmental regulations applicable to our business. Our business could be affected by a number of other factors, including the risk factors listed from time to time in the company’s SEC reports including, but not limited to, the annual report on Form 10-K for the fiscal year ended April 30, 2011. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Peregrine Pharmaceuticals, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.

PEREGRINE PHARMACEUTICALS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS

                         Three Months Ended         Twelve Months Ended
                              April 30,                  April 30,
                         2011          2010         2011          2010
                     ------------  -----------  ------------  ------------
                       unaudited    unaudited
REVENUES:
Contract
 manufacturing
 revenue             $  1,970,000  $ 2,881,000  $  8,502,000  $ 13,204,000
Government contract
 revenue                  681,000    1,461,000     4,640,000    14,496,000
License revenue            78,000       78,000       350,000       243,000
                     ------------  -----------  ------------  ------------
     Total revenues     2,729,000    4,420,000    13,492,000    27,943,000

COSTS AND EXPENSES:
Cost of contract
 manufacturing          1,411,000    2,229,000     7,296,000     8,716,000
Research and
 development            7,998,000    7,130,000    29,462,000    24,658,000
Selling, general and
 administrative         3,274,000    2,630,000    11,421,000     8,182,000
                     ------------  -----------  ------------  ------------

     Total costs and
      expenses         12,683,000   11,989,000    48,179,000    41,556,000
                     ------------  -----------  ------------  ------------

LOSS FROM OPERATIONS   (9,954,000)  (7,569,000)  (34,687,000)  (13,613,000)
                     ------------  -----------  ------------  ------------

OTHER INCOME
 (EXPENSE):
Interest and other
 income                    18,000       20,000     1,052,000       116,000
Interest and other
 expense                  (78,000)    (192,000)     (516,000)     (997,000)
                     ------------  -----------  ------------  ------------

NET LOSS             $(10,014,000) $(7,741,000) $(34,151,000) $(14,494,000)
                     ============  ===========  ============  ============

WEIGHTED AVERAGE
 COMMON SHARES
 OUTSTANDING:
     Basic and
      Diluted          68,293,847   51,863,157    60,886,392    49,065,322
                     ============  ===========  ============  ============

BASIC AND DILUTED
 LOSS  PER COMMON
 SHARE               $      (0.15) $     (0.16) $      (0.56) $      (0.30)
                     ============  ===========  ============  ============

PEREGRINE PHARMACEUTICALS, INC.
CONSOLIDATED BALANCE SHEETS
AS OF APRIL 30, 2011 AND 2010

                                                      2011         2010
                                                  -----------  -----------
ASSETS

CURRENT ASSETS:
Cash and cash equivalents                         $23,075,000  $19,681,000
Trade and other receivables, net                    1,389,000    1,481,000
Government contract receivables                        93,000      367,000
Inventories, net                                    5,284,000    3,123,000
Debt issuance costs, current portion                   21,000      122,000
Prepaid expenses and other current assets, net        953,000    2,004,000
                                                  -----------  -----------

     Total current assets                          30,815,000   26,778,000

PROPERTY:
Leasehold improvements                                932,000      697,000
Laboratory equipment                                4,391,000    4,221,000
Furniture, fixtures, office equipment and
 software                                           1,814,000      917,000
                                                  -----------  -----------

                                                    7,137,000    5,835,000
Less accumulated depreciation and amortization     (4,928,000)  (4,366,000)
                                                  -----------  -----------

     Property, net                                  2,209,000    1,469,000

Debt issuance costs, less current portion                   -       21,000
Other assets                                        1,742,000    1,067,000
                                                  -----------  -----------

TOTAL ASSETS                                      $34,766,000  $29,335,000
                                                  ===========  ===========

PEREGRINE PHARMACEUTICALS, INC.
CONSOLIDATED BALANCE SHEETS
AS OF APRIL 30, 2011 AND 2010 (continued)

                                                    2011          2010
                                                ------------  ------------
LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
Accounts payable                                $  4,046,000  $  3,434,000
Accrued clinical trial and related fees            2,292,000     1,308,000
Accrued payroll and related costs                  1,455,000     1,623,000
Notes payable, current portion and net of
 discount                                          1,321,000     1,893,000
Deferred revenue, current portion                  5,617,000     2,406,000
Deferred government contract revenue                       -        78,000
Customer deposits                                  1,759,000     2,618,000
Other current liabilities                          1,189,000       685,000
                                                ------------  ------------
     Total current liabilities                    17,679,000    14,045,000

Notes payable, less current portion and net of
 discount                                                  -     1,315,000
Deferred revenue, less current portion               632,000             -
Other long-term liabilities                        1,037,000       568,000
Commitments and contingencies

STOCKHOLDERS' EQUITY:
Preferred stock - $.001 par value; authorized
 5,000,000 shares; non-voting; none issued                 -             -
Common stock - $.001 par value; authorized
 325,000,000 shares; outstanding - 69,837,142
 and 53,094,896, respectively                         70,000        53,000
Additional paid-in-capital                       311,353,000   275,208,000
Accumulated deficit                             (296,005,000) (261,854,000)
                                                ------------  ------------
     Total stockholders' equity                   15,418,000    13,407,000
                                                ------------  ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY      $ 34,766,000  $ 29,335,000
                                                ============  ============

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Contact:
Amy Figueroa
Peregrine Pharmaceuticals
(800) 987-8256
info@peregrineinc.com

Wednesday, August 24th, 2011 Uncategorized Comments Off on Peregrine (PPHM) Reports Promising 20.7 Month Median Overall Survival From Phase II Advanced Breast Cancer Trial

Seven Arts Pictures (SAPX) Announces US Release of “The Pool Boys”

LOS ANGELES, CA — (Marketwire) — 08/17/11 — Seven Arts Pictures PLC (NASDAQ: SAPX) (“Seven Arts”) today announced it has finalized plans for the US release of “The Pool Boys” (the “Film”). Cinedigm Entertainment Group (NASDAQ: CIDM) (“Cinedigm”) will release the Film theatrically on between 75 to 100 screens in the top fifty markets on September 30, 2011. Entertainment One (“eOne”), which acquired North American home entertainment and digital rights for the Film, will then release “The Pool Boys” on DVD, Blu-ray and digital platforms in December.

“The Pool Boys” is the hilarious new comedy from the makers of “American Pie.” Starring Matthew Lillard, Brett Davern, Efren Ramirez, Rachel LeFevre and Tom Arnold, the film chronicles the playful mischief that results when a pool boy and a gardener and some women practicing the world’s oldest profession throw a massive party in the empty home of one of their clients.

“We are thrilled to have put together such an exciting team for the release of ‘Pool Boys,'” said Peter Hoffman, CEO of Seven Arts. “All of our partners on this release are working together on an innovative release that will really get our film seen by its target audience. We couldn’t be more pleased.”

“We look forward to using Cinedigm’s precision marketing and digital cinema distribution capabilities to bring ‘The Pool Boys’ directly to targeted audiences across the nation,” said Jonathan Dern, President of Cinedigm.

Entertainment One’s U.S. President Michael E. Rosenberg said, “eOne is excited to be partnering with Seven Arts on ‘Pool Boys,’ and are thrilled to bring this uproarious comedy to home viewing audiences.”

About Seven Arts: Seven Arts Pictures PLC was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production, and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television.

About eOne: Entertainment One Ltd. (LSE: ETO) is a leading international entertainment company that specializes in the acquisition, production and distribution of film and television content. The company’s comprehensive network extends around the globe including Canada, the U.S., the UK, Ireland, Benelux, France, Germany, Scandinavia, Australia, New Zealand and South Africa. Through established Entertainment and Distribution divisions, the company provides extensive expertise in film distribution, television and music production, family programming and merchandising and licensing. Its current rights library is exploited across all media formats and includes more than 20,000 film and television titles, 2,500 hours of television programming and 45,000 music tracks.

About Cinedigm: Cinedigm is a leader in providing the services, experience, technology and content critical to transforming movie theatres into digital and networked entertainment centers. The Company partners with Hollywood movie studios, independent movie distributors, and exhibitors to bring movies in digital cinema format to audiences across the country. Cinedigm’s digital cinema deployment organization, software, satellite and hard drive digital movie delivery network; pre-show in-theatre advertising services; and marketing and distribution platform for alternative content such as CineLive® 3D and 2D sports and concerts, thematic programming and independent movies is a cornerstone of the digital cinema transformation. Cinedigm™ and Cinedigm Digital Cinema Corp™ are trademarks of Cinedigm Digital Cinema Corp. www.cinedigm.com [CIDM-G]

Cautionary Information Regarding Forward-Looking Statements: Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from the anticipated.

Contact:

Seven Arts Pictures PLC US contact:
Peter Hoffman
+1 323 372 3080
phoffman@7artspictures.com
Or
Seven Arts Pictures plc UK contact:
Kate Hoffman
+44 203 006 8223
khoffman@7artspictures.com

Cinedigm Entertainment Group contact:
Jill Newhouse Calcaterra
+1 818 961 0809
jcalcaterra@cinedigm.com

Wednesday, August 17th, 2011 Uncategorized Comments Off on Seven Arts Pictures (SAPX) Announces US Release of “The Pool Boys”

Unilife (UNIS) CEO to Purchase up to U.S. $1.0 Million in Company Shares

YORK, Pa., Aug. 17, 2011 /PRNewswire/ — Unilife Corporation (“Unilife” or the “Company”) (NASDAQ: UNIS; ASX: UNS) today announced that its Chief Executive Officer, Alan Shortall, intends to purchase U.S. $500,000 in shares of the Company’s common stock over the next week. Mr. Shortall intends to begin purchasing these shares this week at market prices forty-eight hours after the issuance of this release in the U.S.

Furthermore, Mr. Shortall has advised the Board of Directors of Unilife that he intends to purchase up to an additional U.S. $500,000 of the Company’s common stock between now and September 30, 2011. Mr. Shortall intends to provide twenty-four hours advance notice to U.S. markets before purchasing these additional Unilife shares.

These intended purchases by Mr. Shortall of up to U.S. $1 million in Unilife common stock, and the timing at which they occur, will be subject to restrictions set forth in the Company’s insider trading policy and will be effected in compliance with applicable U.S. and Australian securities laws.

Mr. Shortall is the largest shareholder in Unilife. These upcoming purchases by Mr. Shortall follow his most recent open market purchases of more than U.S. $500,000 in Unilife shares, which were completed in mid-March 2011 at an average price equivalent to U.S. $4.80 per share of common stock.

Mr. Shortall stated, “I believe that this is an excellent time to purchase shares in Unilife, and to further align my own personal interests to that of my fellow shareholders. In my opinion, Unilife has never had a brighter business future than what we see today. We remain on track with our strategic plan to become a global leader in advanced drug delivery systems. As such, I intend to increase my personal investment in the Company.

“Recent business achievements, and the associated momentum behind them, have in my opinion quickly enhanced the attributes of Unilife’s valuation. However I personally believe the Company’s stock price has not yet reflected this position and the expanded scope of Unilife’s business opportunities,” Mr. Shortall concluded.

Unilife has recently begun to commence initial sales of the Unifill syringe, the world’s first and only prefilled syringe with integrated safety features. The Company remains confident in the continued supply and sale of the Unifill syringe to current and additional pharmaceutical customers.

As previously disclosed, Unilife is also accelerating discussions with several leading pharmaceutical and biotechnology companies regarding other pipeline devices within its expanding portfolio of advanced drug delivery systems. Unilife is currently pursuing a number of prospects regarding the supply of some of its pipeline products to pharmaceutical customers for use in clinical drug trials that are scheduled to occur over the coming year. Based upon the scope of discussions to-date with these pharmaceutical companies, it is expected that Unilife will enter into one or more agreements that will include development fees and high-value product sales.

On July 29, 2011, Unilife filed a Form 8-K with the U.S. Securities and Exchange Commission attaching the consolidated statement of cash flows for the quarter and year ended June 30, 2011 that the Company submitted under ASX listing rules. This and additional information is available on the Company’s website at www.unilife.com.

About Unilife Corporation

Unilife Corporation (NASDAQ: UNIS / ASX: UNS) is a U.S.-based developer, manufacturer and supplier of advanced drug delivery systems with state-of-the-art facilities in Pennsylvania. Established in 2002, Unilife works with pharmaceutical and biotechnology companies seeking innovative devices for use with their parenteral drugs and vaccines. Unilife has developed a broad, differentiated proprietary portfolio of its own injectable drug delivery products, including the Unifill® and Unitract® product lines of safety syringes with automatic, operator controlled needle retraction. Unifill represents the world’s first prefilled syringe technology integrating safety within the primary drug container. The products are ideally positioned to help pharmaceutical companies maximize the lifecycle of their injectable drugs and enhance patient care. Unifill syringes, together with other devices that are part of the Unilife technology platform, can either be supplied to pharmaceutical customers ready for use, or customized to address the specific requirements of targeted novel drugs. For more information on Unilife, please visit www.unilife.com

Forward-Looking Statements

This press release contains forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. These forward-looking statements are based on management’s beliefs and assumptions and on information currently available to our management. Our management believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in “Item 1A. Risk Factors” and elsewhere in our Annual Report on Form 10-K and those described from time to time in other reports which we file with the Securities and Exchange Commission.

General: UNIS-G

Investor Contacts (US):

Investor Contacts (Australia)

Todd Fromer / Garth Russell

Stuart Fine

Jeff Carter

KCSA Strategic Communications

Carpe DM Inc

Unilife Corporation

P: + 1 212-682-6300

P: + 1 908 469 1788

P: + 61 2 8346 6500

SOURCE Unilife Corporation

Wednesday, August 17th, 2011 Uncategorized Comments Off on Unilife (UNIS) CEO to Purchase up to U.S. $1.0 Million in Company Shares