Frederick’s of Hollywood (FOH) Announces Closing of $5.0 Million Preferred Stock Equity Investment

Merchandise vendors agree to approximately $4.9 million in markdown allowances

HOLLYWOOD, Calif., May 24, 2012 /PRNewswire/ — Frederick’s of Hollywood Group Inc. (NYSE MKT: FOH) (the “Company”) announced today that it has sold $5.0 million of Series A Convertible Preferred Stock to TTG Apparel, LLC (the “Purchaser”), which together with its affiliates, are significant shareholders of the Company. The preferred stock is convertible into an aggregate of 4,761,905 shares of the Company’s common stock at a conversion price of $1.05 per share.  Dividends on the preferred stock are payable in additional shares of preferred stock at an initial annual rate of 9%, and such dividend shares are convertible into shares of common stock at a conversion price of $0.45 per share. The Company also issued to the Purchaser three, five and seven-year warrants, each to purchase 500,000 shares of common stock at exercise prices of $0.45, $0.53 and $0.60 per share.

The Company intends to use the $5.0 million of proceeds from this equity investment to pay a group of merchandise vendors a portion of their accounts payable and, in turn, receive a total of approximately $4.9 million in markdown allowances.  The resulting balance sheet effect will be to reduce accounts payable by approximately $10.0 million and to add approximately $10.0 million to shareholders’ equity.

“The equity investment and vendor allowances are both part of our broader turnaround strategy, as these events will significantly strengthen our balance sheet and vendor relationships. As a result of these events, we are in a better position to unlock the true potential for the Frederick’s of Hollywood brand and grow our business,” stated Thomas Lynch, the Company’s Chairman and Chief Executive Officer. “We are also implementing a partner-oriented approach with many of our vendors that will allow us to share the costs of promotional activity for our products.  This will benefit the Company and our vendors by helping push greater volume through our stores and e-Commerce site, while improving our gross margins.”

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

Further details concerning the transaction and the terms of the preferred stock will be contained in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission.

Forward Looking Statement
Certain of the matters set forth in this press release are forward-looking and involve a number of risks and uncertainties.  These statements are based on management’s current expectations or beliefs.  Actual results may vary materially from those expressed or implied by the statements herein.  Among the factors that could cause actual results to differ materially are the following: competition; business conditions and industry growth; rapidly changing consumer preferences and trends; general economic conditions; working capital needs; continued compliance with government regulations; loss of key personnel; labor practices; product development; management of growth, increases in costs of operations or inability to meet efficiency or cost reduction objectives; timing of orders and deliveries of products; risks of doing business abroad; the ability to protect our intellectual property; and the other risks that are described from time to time in the Company’s SEC reports.  The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

About Frederick’s of Hollywood Group Inc.
Frederick’s of Hollywood Group Inc., through its subsidiaries, sells women’s intimate apparel, swimwear and related products under its proprietary Frederick’s of Hollywood® brand through 117 specialty retail stores, a catalog and an online shop at http://www.fredericks.com/.  With its exclusive product offerings including Seduction by Frederick’s of Hollywood and the Hollywood Exxtreme Cleavage® bra, Frederick’s of Hollywood is the Original Sex Symbol®.

Our press releases and financial reports can be accessed on our corporate website at http://www.fohgroup.com.

This release is available on the KCSA Strategic Communications Web site at http://www.kcsa.com.

Platinum Group Metals (PLG) New Waterberg Results

VANCOUVER, BRITISH COLUMBIA and JOHANNESBURG, SOUTH AFRICA — (Marketwire) — 05/23/12 — Platinum Group Metals Ltd. (TSX:PTM)(NYSE Amex:PLG)(NYSE MKT:PLG) (“Platinum Group” or the “Company”) announces that its Waterberg platinum, palladium and gold discovery has been expanded further along strike and up dip. The newly discovered multiple layers of higher grade mineralization have now been intersected at depths as shallow as 122 to 140 meters from surface. The latest results, including 34 additional layer intercepts (detailed below), extend the known strike length a further 500 metres to the northeast. The layers have now been identified for 1.7 kilometers of strike length and 1.4 kilometers down dip and remain open for expansion. These latest results combined with earlier assays confirm the characteristics of the mineralization and the shallow dip of the layers to the west.

Significant intercepts in this release include holes WB012D0, WB013D0 and WB016D0 which highlight high grade-thickness as well as the shallowest and the most northern intercepts to date on the T2 Zone.

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Hole        From      To          Interval   2PGE+Au      Pt      Pd      Au
 Number        m       m    Zone         m   g/t, 3E     g/t     g/t     g/t
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WB012D0   322.00  329.00      T2      7.00      6.32    1.59    3.57    1.15
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WB013D0   144.00  147.50      T2      3.50      4.82    1.58    2.35    0.90
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WB016D0   328.75  331.50      T2      2.75      3.06    1.00    1.34    0.72
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The F mineralized layer is also returning significant values in grade thickness including the following intercept.

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Hole        From     To        Interval   2PGE+Au   Pt    Pd   Au    Cu   Ni
 Number        m      m  Zone         m   g/t, 3E  g/t   g/t  g/t     %    %
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B013D0    663.00 679.00     F     16.00      6.41 2.07  4.04 0.30     -    -
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The F mineralized layer is located near the bottom of the Bushveld Complex and has metal ratios similar to the Platreef to the south.

All of the mineralized layers, including the F layer are open up and down dip and along strike for expansion. True widths are estimated to be approximately 90% of the drilled intercept lengths. Additional assays are expected shortly and step out drilling is ongoing.

The project is 49.9% owned by Platinum Group Metals. Japanese state exploration company JOGMEC is a 37% joint venture partner and the balance is held by a South African empowerment company.

These results confirm the extraordinary results at Waterberg previously announced by the Company from November 2011 to early May 2012. The grade-thickness composition of the metals contained in the T and F zones, if confirmed as resources, are highly competitive when compared to conventional South African Platinum mines, where two layers of 1.0 to 1.5 meters of thickness are mined at grades of 2.5 to 6.0 grams per tonne of combined platinum, palladium, rhodium and gold.

Drilling is continuing with 8 rigs on a 250 meter by 250 meter grid with some larger scale step outs also in progress up to 1.0 km further along strike.

Detailed Drill Results

Summary of Results for all Boreholes Reported to Date                       

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Zone           Average Thickness         Average Grade  Number of Intercepts
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                          meters                3E g/t
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T0                          2.13                  1.69                    16
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T1                          3.40                  2.68                    15
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T2                          3.91                  4.26                    19
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T3                          2.15                  2.68                    18
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F                          16.29                  3.08                     7
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New drilling intercepts for the mineralized zones as detailed in this news
 release only:
(Copper, Nickel values not noted are pending)                               

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Hole         From     To      Interval 2PGE+Au    Pt    Pd    Au    Cu    Ni
 Number         m      m Zone        m     g/t   g/t   g/t   g/t     %     %
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WB005AD2      576    578   T0     2.00    1.22  0.51  0.57  0.14  0.04  0.05
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WB005AD3      576    579   T0     3.00    1.62  0.45  1.00  0.17     -     -
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WB009D2       295    297   T0     2.00    1.55  0.55  0.94  0.07     -     -
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WB009D3       295    296   T0     1.00    0.46  0.18  0.25  0.03     -     -
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WB010D0       198    199   T0     1.00    2.00  0.65  1.02  0.33  0.09  0.08
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WB012D0       184    186   T0     2.00    2.29  0.52  1.49  0.29  0.05  0.03
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WB013D0       122    123   T0     1.00    0.90  0.35  0.54  0.01     -     -
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WB016D0       315    316   T0     1.00    1.42  0.76  0.62  0.04     -     -
----------------------------------------------------------------------------

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Hole         From     To      Interval 2PGE+Au    Pt    Pd    Au    Cu    Ni
 Number         m      m Zone        m     g/t   g/t   g/t   g/t     %     %
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WB005AD2      593    594   T1     1.00    0.17  0.07  0.09  0.01  0.01  0.03
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WB005AD3   592.95 593.75   T1     0.80    0.18  0.10  0.07  0.02     -     -
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WB009D2       307    309   T1     2.00    5.06  1.79  2.46  0.81     -     -
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WB009D3       306    313   T1     7.00    2.23  0.77  1.15  0.31     -     -
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WB010D0       202    203   T1     1.00    1.72  0.54  0.84  0.34  0.06  0.06
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WB012D0    228.00 231.25   T1     3.25    2.00  0.71  0.96  0.34  0.30  0.10
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WB013D0       134    138   T1     4.00    1.13  0.35  0.49  0.29     -     -
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WB016D0       320    322   T1     2.00    3.25  0.94  2.12  0.19     -     -
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----------------------------------------------------------------------------
Hole         From     To      Interval 2PGE+Au    Pt    Pd    Au    Cu    Ni
 Number         m      m Zone        m     g/t   g/t   g/t   g/t     %     %
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WB005AD2   604.50 608.25   T2     3.75    4.88  1.32  2.10  1.45  0.39  0.13
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WB005AD3   603.50 609.25   T2     5.75    3.26  0.87  1.10  1.29     -     -
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WB009D2    355.25 358.50   T2     3.25    2.89  1.13  0.73  1.04     -     -
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WB009D3     355.5 358.25   T2     2.75    6.33  2.90  1.87  1.55     -     -
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WB012D0       322    329   T2     7.00    6.32  1.59  3.57  1.15     -     -
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WB013D0       144  147.5   T2     3.50    4.82  1.58  2.35  0.90     -     -
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WB016D0    328.75  331.5   T2     2.75    3.06  1.00  1.34  0.72     -     -
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Hole         From     To      Interval 2PGE+Au    Pt    Pd    Au    Cu    Ni
 Number         m      m Zone        m     g/t   g/t   g/t   g/t     %     %
----------------------------------------------------------------------------
WB005AD2   620.75 624.25   T3     3.50    0.79  0.27  0.31  0.22  0.10  0.04
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WB005AD3   624.50 627.75   T3     3.25    3.65  1.05  1.27  1.33     -     -
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WB009D2       361    362   T3     1.00    0.78  0.28  0.16  0.34     -     -
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WB012D0    348.50 353.00   T3     4.50    4.73  0.75  2.15  1.83     -     -
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WB013D0       185    187   T3     2.00    2.51  0.67  0.47  1.37     -     -
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WB016D0       350    351   T3     1.00    3.22  0.73  2.46  0.03     -     -
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Hole         From     To      Interval 2PGE+Au    Pt    Pd    Au    Cu    Ni
 Number         m      m Zone        m     g/t   g/t   g/t   g/t     %     %
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WB005AD1      970    997    F    27.00    2.91  1.00  1.81  0.09  0.02  0.13
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WB010D0       604    612    F     8.00    1.83  0.60  1.19  0.05  0.01  0.07
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WB010D1       605    616    F    11.00    2.62  0.82  1.71  0.09     -     -
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WB012D0       716    734    F    18.00    3.89  1.29  2.43  0.17     -     -
----------------------------------------------------------------------------
WB013D0       663    679    F    16.00    6.41  2.07  4.04  0.30     -     -
----------------------------------------------------------------------------

Qualified Person

The non-Independent Qualified Person for this News Release is R. Michael Jones, P.Eng. He is non-independent, is the Company CEO and is a significant shareholder. He has relevant supervision experience in South Africa since 2002 and has experience with feasibility studies and supervision of precious metals mine operations. He has verified the data through checking the calculations, checking samples of the core and by visiting with the qualified employees that have completed the work in South Africa. QAQC procedures include blanks, standards and chain of custody processes and previously reported.

Set point Laboratories is used for the analysing of the drill core samples. Set Point Laboratories is a division of the Setpoint Group and is an ISO 17025 accredited laboratory as well as SANAS accredited testing Laboratory. Set Point uses fire assay and ICP technique and is accredited to analysis between 0.01 to 55ppm for gold, platinum and palladium.

The QAQC samples were alternated after every fifth field sample. The standards were within two standard deviations of the certified mean value for Pt and Pd.

About Platinum Group Metals Ltd.

Platinum Group has an experienced mine building and operating team based in Vancouver, Canada and Johannesburg, South Africa. Platinum Group Metals Ltd is building the 7 million ounce resource, WBJV Project 1 Platinum mine in the Western Limb of the Bushveld Complex South Africa. The Company owns 74% of the WBJV Project 1 Mine and 26% is owned by Wesizwe which is controlled by Jinchuan of China. Platinum Group is listed as PLG on the NYSE MKT and PTM on the TSX in Toronto.

On behalf of the Board of Platinum Group Metals Ltd.

R. Michael Jones, President

This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws (“forward-looking statements”). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the Company’s plans to move into full scale development in the months ahead, the timing of any debt/financing for Project 1, the completion of account structuring and off-take negotiations in Q2 of calendar 2012, the amount of increase in the peak funding estimate for Project 1, the timing of first ore production and concentrate sales, and further exploration on the Company’s properties. In addition, the results of the UFS may constitute forward-looking statements to the extent that they reflect estimates of mineralization, capital and operating expenses, metal prices and other factors. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in market conditions; the nature, quality and quantity of any mineral deposits that may be locate;, the Company’s ability to obtain any necessary permits, consents or authorizations required for its activities; the Company’s ability to successfully complete hedging establishment and off-take negotiations; the Company’s ability to produce minerals from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies and other risk factors described in the Company’s Form 40-F annual report, annual information form and other filings with the SEC and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.

The Toronto Stock Exchange and the New York Stock Exchange – AMEX have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

Contacts:
Platinum Group Metals Ltd.
R. Michael Jones
President
(604) 899-5450 or Toll Free: (866) 899-5450

Platinum Group Metals Ltd.
Kris Begic
Vice President Corporate Development
(604) 899-5450 or Toll Free: (866) 899-5450
(604) 484-4710 (FAX)

AMSC (AMSC) Receives 100 MW Wind Turbine Electrical Control System Order

DEVENS, Mass., May 23, 2012 (GLOBE NEWSWIRE) — AMSC (Nasdaq:AMSC), a global solutions provider serving wind and grid leaders, today announced that Inox Wind Limited, part of India’s Inox Group of Companies, placed a follow-on order for 50 of AMSC’s electrical control systems (ECS) for Inox’s 2 megawatt (MW) wind turbines. AMSC expects to ship all of these systems to Inox in 2012. This is the fourth volume order that AMSC has received from Inox in the past two years.

“Inox is producing some of the best performing and most attractive wind turbines for the Indian market, which have been designed with consideration for Indian site conditions and low cost of operation and maintenance,” said Devansh Jain, director of Inox Wind Limited. “We were amongst the first manufacturers to begin producing 2 MW turbines locally in volumes and have quickly established a leadership position in the market. This position is strengthened by our vertical approach, which includes best-in-class manufacturing as well as project development. We look forward to continuing our growth with AMSC at our side.”

AMSC’s ECS are an integrated, high-performance suite of power electronics systems that include the wind turbine power converter cabinet, internal power supply and various controls. Together, these systems serve as the “brains” of the wind turbine and enable reliable, high-performance operation by controlling power flows, regulating voltage, monitoring system performance, controlling the pitch of wind turbine blades and the yaw of the turbines to maximize efficiency.

The ECS are being utilized in Inox’s 2 MW doubly-fed induction turbines, which were designed by and licensed from AMSC in 2009.

“Already the third largest wind power market in the world, India is supporting renewables in a significant way. In fact, the country recently introduced generation-based incentives for wind power, which incentivize project developers to select turbines that lower their levelized cost of energy and maximize their power output,” said Daniel P. McGahn, President and CEO, AMSC. “This policy is sure to benefit a fully integrated player like Inox, who is committed to providing high-quality, competitively priced wind turbines with exceptional performance and reliability.”

To learn more about AMSC’s product offerings for the wind industry, please visit: http://www.amsc.com/windtec/index.html.

About Inox Wind Limited

Inox Wind Limited is part of the Inox Group of Companies. Inox Group is a $2 billion+, professionally managed business group, with interests in diverse businesses including Industrial Gases, Refrigerants, Engineering Plastics, Chemicals, Carbon Credits, Cryogenic Engineering, Renewable Energy and Entertainment. The INOX Group employs close to 9,000 people at more than 150 business units across the country, and has a distribution network that is spread across more than 50 countries around the globe. Each INOX Group company is characterized by three distinct characteristics – early identification of a winning business idea, building it to a size of dominant market leadership in that segment, and attaining a profit leadership position through cutting-edge efficiency in operations. The Inox Group of Companies, apart from Inox Wind Limited, includes amongst others, Inox Air Products Limited, Gujarat Fluorochemicals Limited, Inox India Limited, Inox Renewables Limited, Inox Leisure Limited and Fame India limited. More information is available at www.inoxwind.com.

About AMSC (NASDAQ: AMSC)

AMSC generates the ideas, technologies and solutions that meet the world’s demand for smarter, cleaner … better energy. Through its Windtec Solutions, AMSC enables manufacturers to launch best-in-class wind turbines quickly, effectively and profitably.  Through its Gridtec Solutions, AMSC provides the engineering planning services and advanced grid systems that optimize network reliability, efficiency and performance. The company’s solutions are now powering gigawatts of renewable energy globally and enhancing the performance and reliability of power networks in more than a dozen countries. Founded in 1987, AMSC is headquartered near Boston, Massachusetts with operations in Asia, Australia, Europe and North America.  For more information, please visit www.amsc.com.

The AMSC logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11339

AMSC, Windtec and Gridtec are trademarks or registered trademarks of American Superconductor Corporation. All other brand names, product names, trademarks or service marks belong to their respective holders.

Any statements in this release about future expectations, plans and prospects for the company, including without limitation our prospects for future growth, expectations regarding the purchase of additional notes and warrants under the securities purchase agreement, expectations regarding future financial results, liquidity and profitability and other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are a number of important factors that could materially impact the value of our common stock or cause actual results to differ materially from those indicated by such forward-looking statements. Such factors include: a significant portion of our revenues has been derived from Sinovel Wind Group Co. Ltd., (“Sinovel”), which has stopped accepting scheduled deliveries and refused to pay amounts outstanding; the disruption in our relationship with Sinovel has materially and adversely affected our business and results of operations and if, as we expect, Sinovel continues to refuse to accept shipments from us, our business and results of operations will be further materially and adversely affected; we may seek additional funding in the future and may be unable to raise capital when needed; we have a history of operating losses, and we may incur additional losses in the future; our operating results may fluctuate significantly from quarter to quarter and may fall below expectations in any particular fiscal quarter; changes in exchange rates could adversely affect our results from operations; we have identified material weaknesses in our internal control over financial reporting and if we fail to remediate these weaknesses and maintain proper and effective internal controls over financial reporting, our ability to produce accurate and timely financial statements could be impaired and may lead investors and other users to lose confidence in our financial data; if we fail to implement our business strategy successfully, our financial performance could be harmed; we may not realize all of the sales expected from our backlog of orders and contracts; many of our revenue opportunities are dependent upon subcontractors and other business collaborators; our products face intense competition, which could limit our ability to acquire or retain customers; our success is dependent upon attracting and retaining qualified personnel and our inability to do so could significantly damage our business and prospects; we may acquire additional complementary businesses or technologies, which may require us to incur substantial costs for which we may never realize the anticipated benefits; our international operations are subject to risks that we do not face in the United States, which could have an adverse effect on our operating results; we depend on sales to customers in China, and global conditions could negatively affect our operating results or limit our ability to expand our operations outside of China; changes in China’s political, social, regulatory and economic environment may affect our financial performance; many of our customer relationships outside of the United States are, either directly or indirectly, with governmental entities, and we could be adversely affected by violations of the United States Foreign Corrupt Practices Act and similar worldwide anti-bribery laws outside the United States; we rely upon third party suppliers for the components and subassemblies of many of our Wind and Grid products, making us vulnerable to supply shortages and price fluctuations, which could harm our business; we are becoming increasingly reliant on contracts that require the issuance of performance bonds; problems with product quality or product performance may cause us to incur warranty expenses and may damage our market reputation and prevent us from achieving increased sales and market share; our success in addressing the wind energy market is dependent on the manufacturers that license our designs; growth of the wind energy market depends largely on the availability and size of government subsidies and economic incentives; there are a number of technological challenges that must be successfully addressed before our superconductor products can gain widespread commercial acceptance, and our inability to address such technological challenges could adversely affect our ability to acquire customers for our products; we have not manufactured our Amperium wire in commercial quantities, and a failure to manufacture our Amperium wire in commercial quantities at acceptable cost and quality levels would substantially limit our future revenue and profit potential; the commercial uses of superconductor products are limited today, and a widespread commercial market for our products may not develop; we have limited experience in marketing and selling our superconductor products and system-level solutions, and our failure to effectively market and sell our products and solutions could lower our revenue and cash flow; our contracts with the U.S. government are subject to audit, modification or termination by the U.S. government and include certain other provisions in favor of the government; the continued funding of such contracts remains subject to annual congressional appropriation which, if not approved, could reduce our revenue and lower or eliminate our profit; we may be unable to adequately prevent disclosure of trade secrets and other proprietary information; we have filed a demand for arbitration and other lawsuits against Sinovel regarding amounts we contend are due and owing and are in dispute; we cannot be certain as to the outcome of the proceedings against Sinovel; we have been named as a party to purported stockholder class actions and shareholder derivative complaints, and we may be named in additional litigation, all of which will require significant management time and attention, result in significant legal expenses and may result in an unfavorable outcome, which could have a material adverse effect on our business, operating results and financial condition; our technology and products could infringe intellectual property rights of others, which may require costly litigation and, if we are not successful, could cause us to pay substantial damages and disrupt our business; our patents may not provide meaningful protection for our technology, which could result in us losing some or all of our market position; third parties have or may acquire patents that cover the materials, processes and technologies we use or may use in the future to manufacture our Amperium products, and our success depends on our ability to license such patents or other proprietary rights; and our common stock has experienced, and may continue to experience, significant market price and volume fluctuations, which may prevent our stockholders from selling our common stock at a profit and could lead to costly litigation against us that could divert our management’s attention. Reference is made to many of these factors and others in the “Risk Factors” section of the company’s most recent quarterly or annual report filed with the Securities and Exchange Commission. In addition, any forward-looking statements included in this release represent the company’s expectations as of the date of this release. While the company anticipates that subsequent events and developments may cause the company’s views to change, the company specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing the company’s views as of any date subsequent to the date of this release.

CONTACT: AMSC Contact:
         Jason Fredette
         Phone: 978-842-3177
         Email: jason.fredette@amsc.com

School Specialty (SCHS) Announces Completion of Debt Refinancing

GREENVILLE, Wis., May 23, 2012 (GLOBE NEWSWIRE) — School Specialty (Nasdaq:SCHS), a leading K-12 education company with the broadest array of products in the market, today announced that it has refinanced its existing credit facility with two new separate agreements. The new multi-year agreements consist of a secured $200 million asset-based credit agreement with a group co-led by affiliates of Wells Fargo & Company and GE Capital, and a separate secured $70 million credit agreement with an affiliate of Bayside Capital, Inc. The new agreements replace the credit agreement dated April 23, 2010, and last amended on July 1, 2011, which had outstanding borrowings of $130 million as of May 18, 2012.

“We are pleased to announce the refinancing of our credit agreement,” said President and CEO Michael P. Lavelle. “The new asset-based credit agreement and term loan provides us with a more appropriate borrowing structure for our business. With this important step in our planning behind us, we are poised to further focus our business and accelerate our transformational activities to drive long term growth and enhance value to our customers and investors.”

Additional details regarding the Company’s new credit agreements will be set forth in its Current Report on Form 8-K, to be filed with the Securities and Exchange Commission.

About School Specialty, Inc.

School Specialty is a leading education company that provides innovative and proprietary products, programs and services to help educators engage and inspire students of all ages and abilities to learn. The company designs, develops, and provides preK-12 educators with the latest and very best curriculum, supplemental learning resources, and school supplies. Working in collaboration with educators, School Specialty reaches beyond the scope of textbooks to help teachers, guidance counselors and school administrators ensure that every student reaches his or her full potential.

Accelerated Learning’s major products include: Wordly Wise 3000^®, Premier™ Agenda, Delta Education™, FOSS^®, CPO Science™, Frey Scientific^®, Educator’s Publishing Service, Academy of Reading^®, Think Math!™, MCI^®, S.P.I.R.E.^® and SPARK™ .   Educational Resources proprietary brands include: Education Essentials^®, Sportime®, Childcraft®, Sax® Arts & Crafts, Califone^®, abc^®, Abilitations^®, School Smart^®, Classroom Select™ and Projects by Design^®.

For more information about School Specialty, visit www.schoolspecialty.com.

Cautionary Statement Concerning Forward-Looking Information

Any statements made in this press release about future results of operations, expectations, plans, prospects, or asset values, constitute forward-looking statements. Forward-looking statements also include those preceded or followed by the words “anticipates,” “believes,” “could,” “estimates,” “expects,” “intends,” “may,” “should,” “plans,” “targets” and/or similar expressions. These forward-looking statements are based on School Specialty’s current estimates and assumptions and, as such, involve uncertainty and risk. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those contemplated by the forward-looking statements because of a number of factors, including the factors described in Item 1A of School Specialty’s Annual Report on Form 10-K for the fiscal year ended April 30, 2011, which factors are incorporated herein by reference. Except to the extent required under the federal securities laws, School Specialty does not intend to update or revise the forward-looking statements.

CONTACT: David Vander Ploeg
         Executive VP and CFO
         920-882-5854

         Elizabeth M. Higashi, CFA
         Investor relations
         920-243-5392

Recon Technology (RCON) Wins Major Contract of PCS & SIS Systems in Turkmenistan

GlobalWise (GWIV) Announces New Channel Sales Partnership With MWA Intelligence

COLUMBUS, OH — (Marketwire) — 05/23/12 — GlobalWise Investments, Inc. (OTCBB: GWIV) (OTCQB: GWIV) (www.GlobalWiseInvestments.com) and its wholly owned subsidiary Intellinetics, Inc., a leading-edge technology company focused on the design, implementation and management of cloud-based Enterprise Content Management (“ECM”) systems in both the public and private sectors, today announce a new Channel Sales Partnership has been signed with MWA Intelligence, Inc.

MWA Intelligence, Inc. (MWAi) (www.mwaintelligence.com) is one of the largest IT infrastructure providers for copier dealer Managed Print Service companies in the United States. With over 350 major clients throughout the US, such as Global Imaging Systems, a Xerox company, and others, MWAi provides cutting-edge M2M (machine-to-machine) and M2P (machine-to-people) solutions and tools that support the exchange of real-time information. With the addition of the Intellivue™ to their stellar lineup of IT solutions, MWAi will have a full suite of ECM template-based offerings.

MWAi intends to expand their service offering beyond North America into Europe and the Asia-Pacific Rim over the next four quarters. As part of that offering, MWAi is actively working with Intellinetics to convert the Intellivue™ cloud-based ECM software into a double-byte character set (DBCS), a software language typical for Japanese, Korean and Chinese translations. By employing DBCS, the Intellinetics software suite will be ready for clients in the Asia-Pacific Rim, in addition to English speaking clients in European countries.

“At MWA Intelligence, we are very excited to have selected Intellinetics as our ECM partner,” said Michael Stramaglio, President and CEO of MWA Intelligence. “The Intellinetics team brings a depth of industry experience, market leadership and innovative solutions to the imaging channel. MWAi evaluated several ECM offerings and found that Intellinetics truly understands the channel, as they have demonstrated in their very creative channel programs that leverage cloud technologies and on-demand solution templates, which will enable accelerated market adoption and growth.”

“This combination will empower MWAi to become the first imaging channel provider to offer comprehensive stage four content management solutions, establishing MWAi as an industry leader in managed document solutions,” continued Mr. Stramaglio. “Further, Intellinetics’ best-of-breed privacy and security technology will enable MWAi to solidify our international presence as a market leader, as we continue to expand into international markets, like Asia and EMEA in the near future.”

The relationship with MWAi continues the GlobalWise objective to find the right channel partners who have the ability to rapidly scale ECM sales into new markets such as those which MWAi participates.

“Intellinetics has selected MWA Intelligence as our alliance channel partner for enabling ECM to fit into a holistic managed print services offering,” stated William J. “BJ” Santiago, CEO of GlobalWise. “MWAi was chosen because of their long-standing reputation with the copier channel, their depth of technology offerings and international marketing reach that will expedite our global strategy. MWAi offers copier dealers a full breadth of managed print service solutions, and through the Technology United ecosystem, has developed a visionary approach to bringing innovative solutions.”

“Through this reseller partnership, Intellinetics will expand our access to MWA Intelligence copier channel relationships in North American, Asian and EMEA markets in an accelerated program that will drive market leadership for ECM with managed print service providers,” concluded Mr. Santiago.

About MWA Intelligence, Inc.

MWA Intelligence, Inc. (MWAi) provides cutting-edge M2M (machine-to-machine) and M2P (machine-to-people) solutions and tools that support the exchange of real-time information. MWAi combines OEM relationships, technological innovation and years of industry experience to meet and exceed all MPS (Managed Print Services) needs. MWAi manages and monitors locally and network connected imaging devices, automates meters directly to ERP and bridges communication from machine to service technician — encouraging dealerships to embrace the hybrid dealer concept. Solutions include: Intelligent Workforce (mobile field service management), Intelligent Service (dispatch automation, ERP/CRM integration), Intelligent Assets (automated meter reading, remote asset diagnostics and management) and more.

For additional information please visit the MWV Intelligence corporate website: www.mwaintelligence.com

About GlobalWise Investments, Inc.

GlobalWise Investments, Inc., via its wholly owned subsidiary Intellinetics, Inc., is a Columbus, Ohio based Enterprise Content Management (ECM) pioneer with industry-leading software that delivers cloud ECM based solutions on-demand. The Company’s flagship platform, Intellivue™, represents a new industry benchmark and game-changing solution by enabling clients to access and manage the content of every scanned document, file, spreadsheet, email, photo, audio file or video tape — virtually anything that can be digitized — in their enterprise from any PC, laptop, tablet or smartphone from anywhere in the world.

For additional information, please visit the Company’s corporate website: www.GlobalWiseInvestments.com

This press release may contain “forward-looking statements.” Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements may include, without limitation, statements about our market opportunity, strategies, competition, expected activities and expenditures as we pursue our business plan. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot predict the effect that market conditions, customer acceptance of products, regulatory issues, competitive factors, or other business circumstances and factors described in our filings with the Securities and Exchange Commission may have on our results. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.

GlobalWise Investments, Inc.
Columbus, Ohio
www.GlobalWiseInvestments.com
614-388-8909
Contact@GlobalWiseInvestments.com

Mission Investor Relations
Atlanta, Georgia
http://www.MissionIR.com
404-941-8975

SEFE (SEFE) Highlights Attendance at ELECTRIC POWER Conference in Baltimore

SEFE, Inc. (OTCBB/OTCQB: SEFE), a sustainability company engaged in offering innovative, pioneering solutions for the world’s energy needs, today announces its recent attendance at the ELECTRIC POWER Conference in Baltimore, Md. The conference, which took place May 15-17, covers the most important tactical issues in the power industry and is attended by industry professionals from around the world.

SEFE’s presence at the conference was noted on signs and displays throughout the event, and executives from SEFE had the opportunity to meet with other energy industry representatives and discuss SEFE’s mission and technology, including its proprietary system, Harmony III, which is an atmospheric power collection generation system designed to harness static electricity from earth’s atmosphere and transform it into usable current. SEFE’s attendance at the ELECTRIC POWER Conference has been one more step in the company’s efforts to publicize this revolutionary technology and to form key relationships in the energy industry.

“We are working on developing contacts in the mining and utility space, as well as using the connections of our consultants and collaborations with universities,” commented SEFE CEO Don Johnston. “SEFE’s technology has the potential to change the world in terms of green, sustainable energy, so promoting Harmony III at events such as the ELECTRIC POWER Conference is meaningful and important as the company goes forward.”

In addition to attending the ELECTRIC POWER Conference, SEFE has also recently launched Revmodo.com, its proprietary marketing site, which is designed to drive potential new business to SEFE through community outreach initiatives and educating the public about the pioneering innovations behind the world’s expanding clean technology space. Through Revmodo, SEFE will be able to disseminate information about its innovations, including Harmony III.

For more information, visit www.revmodo.com

About Harmony III

Harmony III is a revolutionary, commercial-grade atmospheric power collection generation system designed to harness naturally occurring static electricity directly from the earth’s atmosphere, transforming it into current usable by generators and the existing power grid. This groundbreaking system has the potential to curb fossil fuel dependency, while immediately contributing to carbon offset. Harmony III is positioned to potentially replace other forms of energy production in the future, including renewable energy sources like wind, solar and hydroelectric, that have significant cost and logistical drawbacks compared with a network of SEFE units.

About SEFE, Inc.

SEFE focuses on pushing the boundaries of what’s possible, embracing innovation and employing the cutting-edge to solve problems, and offering sustainable solutions to a world hungry for invention, direction and leadership. SEFE is technology- and solutions-driven, focusing on developing inventions that provide a real-world impact and true profitability. So, success is measured by both a sustainable return on investment, as well as a project’s sustainability from an environmental perspective.

For more information, visit www.SEFElectric.com

Forward-Looking Statements

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Cleantech Solutions (CLNT) Lands $1.7M in Wind Power Component Orders

WUXI, Jiangsu, China, May 22, 2012 /PRNewswire-Asia-FirstCall/ — Cleantech Solutions International, Inc. (“Cleantech Solutions” or “the Company”) (NASDAQ: CLNT), a manufacturer of metal components and assemblies, primarily used in the wind power, solar and other clean technology industries, today announced that the Company has received purchase orders to supply motor shaft forgings to Nanjing Turbine & Electric Machinery Changfeng Alternative Energy Co., Ltd (“Nanjing Turbine”) for an aggregate amount of $1.7 million.

The purchase orders provide that Cleantech Solutions will deliver a total of 800 units of motor shaft forgings, amounting to total revenue of RMB10.6 million (approximately $1.7 million) by the end of 2012. The Company has received advance payments of RMB1.6 million (approximately $0.3 million).

“We are encouraged to receive follow-on purchase orders from Nanjing Turbine, an established player in China’s wind power market,” said Mr. Jianhua Wu, Chairman and CEO of Cleantech Solutions. “We believe this demonstrates the high-quality of our products and our ability to meet our customers’ needs for wind components and other equipment.”

About Cleantech Solutions International

Cleantech Solutions is a manufacturer of metal components and assemblies, primarily used in clean technology industries. The Company supplies forging products, fabricated products and machining services to a range of clean technology customers, primarily in the wind power sector. Cleantech Solutions is committed to achieving long-term growth through ongoing technological improvement, capacity expansion, and the development of a strong customer base. The Company’s website is www.cleantechsolutionsinternational.com. Any information on the Company’s website or any other website is not a part of this press release.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary and affiliated companies. These forward looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website, including factors described in “Risk Factors” in our Form 10-K for the year ended December 31, 2011 and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K for the year ended December 31, 2011 and our Form 10-Q for the quarter ended March 31, 2012. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

Company Contact:

Investor Relations Contact:

Orbit International (ORBT) Receives ~$574k Follow-on Order from U.S. Navy

Orbit International Corp. (NASDAQ:ORBT), an electronics manufacturer and software solution provider, today announced that its Electronics Group has received a new order against an existing contract from a U.S. Navy Procurement Agency for its MK 110 Signal Data Converter (“SDC”). This order, valued in excess of $547,000, was received by the Company’s Integrated Combat Systems, Inc. (“ICS”) subsidiary located in Louisville, Kentucky. Additional orders for the remainder of the contract are expected later in 2012 and in 2013. Deliveries of all units under this contract are expected to commence in the third quarter of 2012 and continue through the end of 2013.

The MK 110 SDC is a major configuration item of the GCS MK 160 MOD 15. The MK 110 SDC includes custom fabricated enclosures as well as Commercial-Off-The-Shelf and Non-Developmental Item components that are designed to meet the most stringent U.S. Navy operational systems requirements. This system will be deployed on DDG 51-78 as part of the AEGIS Modernization Program and will be operationally integrated with 5”/54 MK-45 Gun Mount systems.

Julie McDearman, ICS’s Director of Engineering and Logistics commented, “This $547,000 order is part of the base contract award valued in excess of $5,758,000 for which we received a $1,050,000 initial task order in April 2012, and brings the total year-to-date MK 110 SDC orders to approximately $1,597,000. This order is for a First Article Test unit and is consistent with the U.S. Navy’s overall MK 110 SDC contracting strategy. We look forward to demonstrating our design competency as this unit is evaluated against the full range of environmental tests, including MIL-S-901D shock.”

Mitchell Binder, President and CEO of Orbit International commented, “Our ICS subsidiary should receive AS9100 certification during the second quarter of 2012 so that we may proceed with building these units, using AS9100 standards, for delivery beginning in the second half of the year and continuing through next year. This award is consistent with our efforts for continued strong operating performance in 2012, particularly in the second half of the year.”

Orbit International Corp. is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facilities in Hauppauge, New York, and Quakertown, Pennsylvania; and designs and manufactures combat systems and gun weapons systems, provides system integration and integrated logistics support and documentation control at its facilities in Louisville, Kentucky. Its Behlman Electronics, Inc. subsidiary manufactures and sells high quality commercial power units, AC power sources, frequency converters, uninterruptible power supplies and COTS power solutions.

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company including, statements regarding our expectations of Orbit’s operating plans, deliveries under contracts and strategies generally; statements regarding our expectations of the performance of our business; expectations regarding costs and revenues, future operating results, additional orders, future business opportunities and continued growth, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although Orbit believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.

Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond Orbit International’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International and the statements contained in this news release can be found in Orbit’s filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K, annual reports on Form 10-K and its other periodic reports. For forward-looking statements in this news release, Orbit claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

ChinaNet Online (CNET) Reports First Quarter 2012 Financial Results

BEIJING, May 22, 2012 (GLOBE NEWSWIRE) — ChinaNet Online Holdings, Inc. (“ChinaNet” or the “Company”), (Nasdaq:CNET), a leading B2B (business to business) Internet technology company providing online-to-offline (“O2O”) sales channel expansion services for small and medium-sized enterprises (“SMEs”) and entrepreneurial management and networking services for entrepreneurs in the People’s Republic of China, today announced financial results for the first quarter 2012.

Summary Financials

First Quarter 2012 Financial Results

Revenues for the first quarter of 2012 increased by 113% to $14.9 million from $7.0 million in the first quarter of 2011, primarily due to an increase in revenues from the sale of TV and internet advertising and marketing services on the Company’s web portals. TV advertising revenue increased significantly to $10.4 million for the three months ended March 31, 2012 from $0.7 million in the same period in 2011. TV advertising revenues were generated by selling approximately 10,396 minutes of advertising time purchased from provincial TV stations as compared with approximately 835 minutes of advertising time that we sold in the same period in 2011. Revenue from internet advertising and marketing increased by 50% to $4.3 million, as compared to the first quarter of 2011 due to the addition of Sooe.cn and increasing the number of clients on Liansuo.com.

Q1 2012 Revenue Breakdown by Business Unit (USD in thousands)

Total cost of sales for the first quarter of 2012 was $12.5 million, compared to $2.0 million for the same period in 2011. Gross profit was $2.4 million for the first quarter of 2012, representing gross margin of 16.0%, compared to $5.0 million of gross profit and gross margin of 71% in the first quarter of 2011. The decrease in gross margin is due to the percentage of sales from the Company’s lower margin TV advertising revenue, which accounted for approximately 69% of total revenues as well as increasing in resource costs.

Operating expenses for the three months ended March 31, 2012 were approximately $2.3 million, up 15.7% from $2.0 million in the comparable period of 2011. General and administrative expenses increased $0.4 million to $1.2 million. Research and development expenses dropped 6.2% year-over-year to $0.3 million.

The Company had an operating income of $0.13 million in the first quarter of 2012 compared to $3.0 million operating income in the first quarter of 2011.

Net loss attributable to common stockholders for the first quarter of 2012 was $0.4 million and loss per share was $0.02 compared to $2.6 million net income attributable to common stockholders and $0.14 earnings per share in the first quarter of 2011, respectively.

Balance Sheet and Cash Flow

The Company had $9.0 million in cash and cash equivalents as of March 31, 2012, compared to $10.7 million as of December 31, 2011, working capital of $27.3 million, compared to $27.0 million as of December 31, 2011, and a current ratio of 3.8 to 1 compared 4.5 to 1 as of December 31, 2011.

The Company had cash inflow from operations of $0.4 million for the three months ended March 31, 2012. Total shareholders’ equity of ChinaNet was $41.6 million at March 31, 2012, compared to $41.7 million at December 31, 2011.

Guidance for 2012

Management forecasts full year 2012 revenues to be at least $42 million and net income of at least $2.8 million.

Business Updates

ChinaNet is focused on strategically expanding its client base of over 6,000 current customers by continuing to grow its internet advertising and marketing services business. Currently, 28.com, which connects SME franchisors with new franchisees, generates the majority of revenues. ChinaNet will continue to invest in new technology and expects to increase its market share to over 55% by the end of the third quarter 2012.

As previously announced, management is focused on several new growth and management initiatives to help offset short-term economic challenges on 28.com. Below are additional initiatives:

• Improving internal management with cost reduction plan, expect to increase net profit margin by 2%-5%;
• Addition of Sooe.cn with commercialization expected in Q3 2012;
• Sales campaign with China Business Journal to attract better quality and larger clients in Q3 2012, further extending Liansuo.com’s client base by 20% or more;
• Launching Weibo (like Twister) related value-added marketing service to existing or larger branded customers in Q3 2012 with 3^rd party alliance;
• Launching of Zhifuwan.com, an integrated SEM and e-Commerce marketing service as additional value-added services to all other web portals, helping SMEs to further market their Taobao B2C sites by means of technology in Q3 2012.
• With the complexity of additional features, the commercial launch of flying cloud (www.feitengyun.com) has been re-scheduled to occur by the end of October 2012.

With these initiatives, management expects ChinaNet to return to profitability in Q2 2012 based on current and improving economic conditions.

Conference Call

Please dial in at least 10-minutes before the call to ensure timely participation.

A playback of the call will be available until 9:00 am ET on May 29, 2012. To listen, call 1-877-344-7529 within the United States or 1-412-317-0088 when calling internationally. Please use the replay pin number 10014350.

About ChinaNet Online Holdings, Inc.

The Company, a parent company of ChinaNet Online Media Group Ltd., incorporated in the BVI (“ChinaNet”), a leading business to business Internet technology company focusing on providing online-to-offline sales channel expansion service for small and medium-sized enterprises and entrepreneurial management and networking service for entrepreneurs in China. Founded in 2003 and based in Beijing, PRC, the Company’s services include its 28.com portal to connect SME franchisors with new franchisees, Internet advertising and marketing with other value-added communication channels, brand management & sales channel solutions, and cloud-computing based management tools, to be officially commercialized in 2012. Website: http://www.chinanet-online.com.

Safe Harbor

This release contains certain “forward-looking statements” relating to the business of ChinaNet Online Holdings, Inc., which can be identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “estimates” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties relating to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ChinaNet’s current expectations and beliefs concerning future developments and their potential effects on the company. There can be no assurance that future developments affecting ChinaNet will be those anticipated by ChinaNet. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. ChinaNet undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

— FINANCIAL TABLES –

CONTACT: Ted Haberfield, President
         MZ North America, IR
         MZ Group
         Direct: +1-760-755-2716
         Email: thaberfield@mzgroup.us

IsoRay’s (ISR) GliaSite Approved for Sale in 31 European Countries

IsoRay Inc. (AMEX: ISR), a medical technology company and innovator in seed brachytherapy and medical radioisotope applications, today announced that the GliaSite^® radiation therapy system, the world’s only balloon catheter device used in the treatment of brain cancer, has earned the European CE Mark, allowing immediate sale in 31 European countries. The system’s balloon catheter is a landmark technology that allows physicians to treat more patients than ever before with brachytherapy or internal radiation and provides important benefits over other radiation treatment options.

The CE mark designates that the manufacturer conforms with the essential product requirements of the applicable European Commission directives. Granted after a rigorous evaluation process, the CE mark allows a product to be legally marketed in the European Free Trade Association (EFTA) member states as well as the European Union.

IsoRay Chairman and CEO Dwight Babcock commented, “This is a major event for IsoRay as it opens the door to revenue opportunities in international markets where our current distributor previously marketed GliaSite^® for its prior manufacturer. In addition, it allows us to pursue other distribution opportunities in countries not previously serviced. This historic moment completes the last requirement essential to initiate the international launch of our GliaSite^® radiation therapy system”.

The GliaSite^® radiation therapy is being reintroduced to the market by IsoRay, which has exclusive worldwide rights to the system. IsoRay is also the exclusive manufacturer of Cesium-131, which represents one of the most important advancements in internal radiation therapy in 20 years. Cesium-131 allows for the internal radiation treatment of many different cancers because of its unequaled combination of high energy and its unrivaled speed in giving off therapeutic radiation (9.7 day half-life).

IsoRay has already received a CE mark for its Cesium-131 lung cancer sutures and mesh. Cesium-131 mesh brachytherapy gives physicians and their patients a viable treatment option for those early stage lung cancer patients who otherwise would be inoperable because of limited pulmonary function or other health issues. With mesh brachytherapy, patients benefit from getting the most targeted radiation possible, which decreases the chance of the cancer recurring and decreases the amount of potential lung damage as compared to other available treatments. Some doctors report that they have found placing Cesium-131 lung mesh over the surgical suture line reduces the risk of cancer recurrence in patients to 2 percent or less. Patients accrue additional quality of life benefits because targeted radiation does not involve the many weeks of treatment required in traditional external radiation since it can be done at the time of surgery, with or without robotics, and does not involve return trips to the hospital, except for routine follow-up visits.

Babcock says this latest achievement comes on the heels of the Company’s reintroduction of the GliaSite^® radiation therapy system and introduction of Cesium-131 sutures and mesh to the international medical community at the World Congress of Brachytherapy where they all drew strong interest. According to Babcock, these developments are in keeping with the Company’s strategic objectives. “IsoRay remains focused on meeting a primary goal of being an innovator with the creation of ground-breaking products that are proving to be vital weapons in the treatment of a number of cancers throughout the body. This product portfolio is central to our goal of growing revenues and creating value for our stockholders.”

The GliaSite^® system has established reimbursement for both in-patient and out-patient settings. In addition to its CMS codes, Cesium-131 is FDA-cleared in seed form for the treatment of prostate cancer, lung cancer, ocular melanoma cancer, brain cancer, colorectal cancer, gynecologic cancer, head and neck cancer and other cancers throughout the body.

About IsoRay, Inc.

IsoRay, Inc., through its subsidiary, IsoRay Medical, Inc., is the exclusive producer of Cesium-131 internal radiation therapy, which is expanding brachytherapy options throughout the body and the GliaSite® radiation therapy system, the world’s only balloon catheter device used in the treatment of brain cancer. Learn more about this innovative Richland, Washington company and explore the many benefits and uses of Cesium-131 and the GliaSite® radiation therapy system by visiting www.isoray.com. Join us on Facebook/Isoray. Follow us on Twitter @Isoray.

Safe Harbor Statement

Statements in this news release about IsoRay’s future expectations, including: the advantages of our Cesium-131 seed, future demand for IsoRay’s existing and planned products, whether revenue and other financial metrics will improve in the future, whether IsoRay will be able to continue to expand its base beyond prostate cancer to use Cesium-131 to treat additional cancers and malignant disease, whether IsoRay will be able to generate sales internationally and enter into new international distribution agreements, the advantages of the GliaSite® delivery system, whether sales will increase as we can sell our products in additional countries, whether additional studies will be published with favorable outcomes from treatment with Cesium-131, and all other statements in this release, other than historical facts, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). This statement is included for the express purpose of availing IsoRay, Inc. of the protections of the safe harbor provisions of the PSLRA. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as physician acceptance, training and use of IsoRay’s products, changing levels of demand for IsoRay’s current and proposed future products, IsoRay’s ability to reduce or maintain expenses while increasing sales, whether later studies and protocols support the findings of the initial studies, success of future research and development activities, IsoRay’s ability to successfully manufacture, market and sell its products, success of any negotiations undertaken with potential distributors, patient results achieved when Cesium-131 is used for the treatment of cancers and malignant diseases beyond prostate cancer, patient results achieved with the GliaSite® radiation therapy system, IsoRay’s ability to manufacture its products in sufficient quantities to meet demand within required delivery time periods while meeting its quality control standards, IsoRay’s ability to enforce its intellectual property rights, changes in reimbursement rates, changes in laws and regulations applicable to our product, and other risks detailed from time to time in IsoRay’s reports filed with the SEC.

China Gerui (CHOP) Announces First Quarter 2012 Results

ZHENGZHOU, China, May 22, 2012 /PRNewswire-Asia-FirstCall/ — China Gerui Advanced Materials Group Limited (NASDAQ: CHOP) (“China Gerui,” or the “Company”),  a leading high precision, cold-rolled steel producer in China, today announced unaudited financial results for the three months ended March 31, 2012.

“We achieved sound financial performance in the first quarter and an increase in gross profit and gross margin from the same period of 2011,” said Mr. Mingwang Lu, Chairman and Chief Executive Officer. “Our first quarter saw further utilization of our 250,000 tons of chromium-plating capacity, and a steady ramp-up of production from our recently added highly specialized cold-rolled steel capacity.”

“Consistent with our strategy in 2011, we continue to monitor closely the macroeconomic conditions in China and strive to optimize our product mix which is tailored to the evolving demand change of our end markets, including food and industrial packaging, construction and household decoration materials, electrical and home appliances, and telecommunications wire and cable,” Mr. Lu continued. “While the market environment has been challenging, we believe that our competitive advantages as a premium producer and ability to customize production to meet our customers’ needs will enable us to generate continued solid results and an advantageous return on investment from our new capacity.”

First Quarter 2012 Results

Revenue increased 9.6% to $68.7 million in the first quarter of 2012 from $62.7 million in the first quarter of 2011.  The increase in revenue was primarily due to a 10.9% increase in sales volume to approximately 76,500 tons for the first quarter of 2012 as compared to approximately 69,000 tons for the same period of 2011, partially offset by a 1.2% decrease in the Company’s average selling price of $898 per ton for the first quarter of 2012 as compared to an average selling price of $909 for the same period of 2011.

Gross profit increased 19.7% to $21.5 million in the first quarter of 2012 from $18.0 million in the same period of 2011.  Gross margin was 31.3% in the first quarter of 2012 compared to 28.7% in the same period of 2011.  The increase in gross margin was due to the increased utilization of the 200,000 tons in chromium-plating capacity that was added last year and continued ramp-up and improved precision production of the recently added 150,000-ton wide-strip production line.

Operating income increased 89.4% to $19.0 million in the first quarter of 2012, or 27.7% of revenue, from operating income of $10.0 million, or 16.0% of revenue, in the same period of 2011.  Adjusting for one-time warrant exercise expenses of $5.7 million, operating income on an adjusted basis in the first quarter of 2011 was $15.7 million, or 25.1% of revenue.  Therefore, operating income in the first quarter of 2012 increased 20.8% from the adjusted operating income figure of $15.7 million in the same period of 2011.* The increase in operating income in the first quarter 2012 as compared to adjusted operating income in the comparable year-ago period is primarily due to the corresponding increase in gross profit and slightly lower operating expenses as a percent of revenue in the first quarter of 2012 compared to the same period of 2011.

Interest expenses decreased 63.7% to $1.0 million compared to $2.8 million in the prior year period.  The decrease was primarily attributable to higher bank borrowings in 2011 due to uncertainty as to the number of the Company’s public warrants that would be exercised before their expiration in March 2011.  An additional reason was our continued efforts to reduce leverage.

Net income was $14.0 million in the first quarter of 2012, or $0.24 per fully diluted share, compared to $4.0 million, or $0.08 per share in the same period of 2011.  Adjusted net income in the first quarter of 2011, which excludes the aforementioned one-time warrant exercise expenses, was $9.7 million, or $0.20 per diluted share.*

Adjusted EBITDA increased 28.8% to $22.0 million, or 32.0% of revenue, in the first quarter of 2012, from $17.1 million, or 27.2% of revenue, in the same period of 2011.  Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization and one-time warrant exercise expenses incurred in the first quarter of 2011.*

* Please see the section below entitled “Use of Non-GAAP Adjusted Financial Measures” and the reconciliation table at the end of this press release for an explanation and quantitative comparison of the non-GAAP measures used in this press release to their GAAP equivalents.

Financial Condition

As of March 31, 2012, the Company had $267.7 million in unrestricted cash and an additional $124.1 million in restricted cash, as compared to $246.6 million and $118.1 million, respectively, as of December 31, 2011. Working capital was $159.5 million as of March 31, 2012, compared to $142.5 million as of fiscal year end 2011. The Company’s short-term debt consisted of notes payable and term loans that totaled $269.5 million as of March 31, 2012, compared to $249.1 million as of December 31, 2011.  The Company has no long-term debt.  Shareholders’ equity was $312.3 million, as compared to $298.4 million as of December 31, 2011.  The net cash provided by operating activities for the first three months of 2012 was $6.5 million compared to net cash provided by operating activities of $11.4 million in the same period of 2011.

Recent Developments

• On May 9, 2012, we announced the independent verification of our cash balances as of our 2011 fiscal year end.  Additional detailed information regarding this announcement was contained in our press release issued on this date.
• In April 2011, we announced that our Board of Directors had approved a six-month share repurchase program to repurchase up to an aggregate of $10 million of our ordinary shares. Our board of directors subsequently extended the program from six months to an indefinite period or until the program is completed.  As of May 21, 2012, the Company had repurchased 1,176,898 ordinary shares at an average price of $3.84 per share for a total repurchase price of approximately $4.52 million.
• In January 2012, we announced that The NASDAQ Stock Market had determined that the Company met its requirements to transfer its stock from its Global Market listing tier to its most stringent listing tier, the Global Select Market. The transfer was effective on January 4, 2012, and our stock continued to trade under the ticker symbol “CHOP”.

Business Update

As previously announced, the Company completed its addition of 100,000 tons of annual cold-rolled steel production capacity during the first quarter of 2012 as part of Phase II of its capacity expansion plan. The Company’s total production capacity now totals 500,000 tons of specialized wide- and narrow-strip cold-rolled steel, of which 400,000 tons are fully operational.  The Company believes that its overall utilization of its 400,000 tons of fully operational cold-rolled wide- and narrow-strip steel production capacity is approximately 75%, reflecting a gradual increase in utilization consistent with the Company’s quality control standards. The Company’s chromium-plating production lines, which can accommodate a total of 250,000 tons of either narrow-strip or wide-strip specialized steel, are fully operational as of the first quarter of 2012 and are running at a 40% utilization rate. The addition of 100,000 tons of annual cold-rolled steel capacity in the first quarter of 2012 is undergoing further testing and refinement, and this facility is expected to start normal operation in the third quarter of 2012.

In the first quarter of fiscal year 2012, in addition to the seasonal reduction in demand due to the Chinese New Year holiday, the Company experienced a contraction in its average selling prices relative to previous quarters as growth in the Chinese economy continued to be relatively slow.  Further, slowing exports of steel encouraged large, state-owned steel companies to further engage the Chinese market, which induced some short-term price cuts throughout the domestic steel sector.  However, the Company continues to believe that its strategic focus on high-end specialized steel products and increased production capacity will enable it to successfully navigate these market conditions and continue to generate high margins and returns on invested capital.  It also continues to employ certain measures, such as offering various incentives to develop business from customers and increasing marketing and sales staffing, so as to more aggressively compete in the marketplace. It also persists in pursuing other advanced materials applications such as the development and processing of various alloys to optimize the utilization of its extensive value-added in-house production technology, in addition to growth opportunities as dictated by new developments in hardware and software technology as well as those offered by potential acquisition opportunities.

Mr. Lu concluded, “The strength of our balance sheet and fluid nature of our business model has enabled us to better adapt to market conditions than most of our competitors, even as we add new capacity and capabilities to our product and service platform.  We anticipate that we will continue to effectively compete in the high-end spectrum of the specialized steel segment despite current macroeconomic challenges.”

For fiscal year 2012, China Gerui continues to expect revenue of between $395 million and $410 million and diluted earnings per share of between $1.32 and $1.37.  The Company will continue to provide updates of its 2012 outlook in view of the uncertainties associated with macroeconomic conditions in China and other risk factors.

Conference Call Information

The Company will also host a conference call at 10:00 am ET (10:00 pm Beijing Time) on Tuesday, May 22, 2012.

Listeners may access the call by dialing +1 (866) 395-5819 five to ten minutes prior to the scheduled conference call time. International callers should dial +1 (706) 643-6986. The conference participant pass code is 81453212.

A replay of the conference call will be available for 14 days starting from 12:00 pm ET on Tuesday, May 22, 2012. To access the replay, dial +1 (855) 859-2056. International callers should dial +1 (404) 537-3406. The passcode is 81453212.

A live and archived webcast of the call will be available on the Company’s website at http://www.geruigroup.com/Investors.html.  To listen to the live webcast, please go to the Company’s website at least fifteen minutes prior to the start of the call to register, download and install any necessary audio software.

Use of Non-GAAP Adjusted Financial Measures

This earnings release includes the use of non-GAAP adjusted operating income, non-GAAP adjusted net income, non-GAAP adjusted diluted earnings per share, and non-GAAP adjusted EBITDA, which are financial measures that are not defined by U.S. generally accepted accounting principles, or U.S. GAAP. For purposes of Regulation G, a non-GAAP financial measure is a numerical measure of a registrant’s historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with U.S. GAAP in the statement of income, balance sheet, or statement of cash flows (or equivalent statements) of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. In this regard, U.S. GAAP refers to generally accepted accounting principles in the United States. Pursuant to the requirements of Regulation G, the Company has included with this press release a table which includes a reconciliation of non-GAAP adjusted operating income, non-GAAP adjusted net income, non-GAAP adjusted diluted earnings per share, and non–GAAP adjusted EBITDA to the most directly comparable respective U.S. GAAP financial measures. Non-GAAP adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization and one-time warrant exercise expenses of $5.7 million incurred in the first quarter of 2011. Non-GAAP adjusted operating income, non-GAAP adjusted net income and non-GAAP adjusted diluted earnings per share were calculated by excluding one-time warrant exercise expenses of $5.7 million from operating income, net income, and net income per diluted share, respectively. The Company’s management believes that the presentation of these non-GAAP financial measures provides useful information regarding the Company’s results of operations because it assists in analyzing and benchmarking the performance and value of the Company’s business. The Company’s calculation of non-GAAP adjusted EBITDA, non-GAAP adjusted operating income, non-GAAP adjusted net income, and non-GAAP adjusted diluted earnings per share may not be consistent with similarly titled measures of other companies.

About China Gerui Advanced Materials Group Limited

China Gerui Advanced Materials Group Limited is a leading niche and high value-added steel processing company in China. The Company produces high-end, high-precision, ultra-thin, high- strength, cold-rolled steel products that are characterized by stringent performance and specification requirements that mandate a high degree of manufacturing and engineering expertise. China Gerui’s products are not standardized commodity products. Instead, they are tailored to customers’ requirements and subsequently incorporated into products manufactured for various applications. The Company sells its products to domestic Chinese customers in a diverse range of industries, including the food and industrial packaging, construction and household decorations materials, electrical appliances, and telecommunications wires and cables. For more information, please visit http://www.geruigroup.com.

Safe Harbor Statement

Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2011 and otherwise in our SEC reports and filings, including the final prospectus for our offering.  Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Genetic Technologies (GENE) Provides BREVAGen(TM) Sales and Reimbursement Update

MELBOURNE, AUSTRALIA — (Marketwire) — 05/22/12 — Genetic Technologies Limited (ASX: GTG) (NASDAQ: GENE) is pleased to provide an update on BREVAGen™ sales and the “credentialing” process with the top ten U.S. Preferred Provider Organizations (“PPOs”). To date, the Company has executed credentialing contracts with four PPOs which represents an estimated 13 million covered lives in the U.S. Progress with these leading PPOs has been a key driver of improved BREVAGen™ revenue collection.

Total revenue received from BREVAGen™ sales in the period from January to April 2012 represented over 63% of all revenues received since the test was launched in June 2011. In addition to the improvement in reimbursement, the month of April saw appreciable sales uptake, with unit sales increasing to 48% higher than the year-to-date monthly average.

A story highlighting the BREVAGen™ test and its U.S. launch featured on the Tuesday, May 15 episode of Australia’s Channel 7 news and current affairs television show Today Tonight which was broadcast nationally across Australia. [To view the story go to: http://au.news.yahoo.com/today-tonight/latest/article/-/13691294/breast-cancer-breakthrough/]

“The recent increase in unit sales and revenue generation is illustrative that we are on the right track with regard to both sales messaging and credentialing contract execution for BREVAGen™,” said Dr. Paul MacLeman, Genetic Technologies’ Chief Executive Officer. “With the increased sales presence we now have in place in new U.S. territories, we are looking forward to continued commercial growth, particularly as we execute on credentialing contracts with further U.S. PPOs.”

Credentialing contracts executed with four of the top ten Preferred Provider Organizations

Credentialing with these PPOs allows for expedited claim adjudication (as “in-network”). This provides improved cash flow while obtaining an acceptable level of reimbursement, and reduces the costs incurred through appealing denials. Once BREVAGen™ volumes reach a significant level and Genetic Technologies has gathered the clinical utility data, the Company will approach insurers directly to contract.

Specific credentialing contracts have been executed with Prime Health Services, National Preferred Provider Network/PlanCare America/Ohio Preferred Provider Network LLC (NPPN/OPPN), Galaxy Health Network and Fortified Provider Network. Prime Health Services’ Group Health PPO has over 600,000 physicians, ancillary services and hospitals nationwide with in excess of 6 million covered lives. NPPN/OPPN has more than 550,000 physicians, nearly 4,000 acute care facilities, and more than 90,000 ancillary care provider locations in their network. NPPN/OPPN estimate that they account for several million covered lives. Galaxy Health Network has over 400,000 directly contracted Physicians, Facilities and Hospitals and over 3.5 million covered lives. Fortified Provider Network has a presence in all 50 States and over 1.5 million covered lives.

U.S. state certification update

In April of 2011, Genetic Technologies successfully attained CLIA approval, allowing BREVAGen™ to be sold into 42 U.S. States (see ASX announcement dated April 27, 2011). Following the Company’s receipt of a certificate of compliance issued by the Centers for Medicare and Medicaid Services (see ASX announcement dated February 16, 2012), the Company has submitted numerous applications for “Out of State Licensure,” which allows BREVAGen™ to now also be sold in Pennsylvania, Rhode Island, Nevada, Tennessee and Maryland. The Company has also submitted relevant licensure applications in California and Florida and expects approval to sell BREVAGen™ in these key states shortly. Submission of data to New York for approval is also in progress.

“Preferred Provider Organization” and “Credentialing”

A Preferred Provider Organization is a managed care organization of medical doctors, hospitals, and other health care providers who have covenanted with an insurer or a third-party administrator to provide health care at reduced rates to the insurer’s or administrator’s clients. Credentialing is a process whereby provider organizations such as physicians, care facilities and ancillary providers (including testing service providers such as GTG with the BREVAGen™ test) contract directly with the PPO. Contracts with PPOs are a fundamental to getting the BREVAGen™ test “in network”. Being in network streamlines the claims management process within these PPOs, ultimately resulting in improved reimbursement for the BREVAGen™ test.

About BREVAGen™

The BREVAGen™ breast cancer risk stratification test is a novel genetic test panel that examines a patient’s DNA to detect the absence or presence of certain common genetic variations (SNPs) associated with an increased risk for developing breast cancer. The test is designed to help physicians assess aggregate breast cancer risk from these genetic markers, plus factors from a standard clinical assessment based on a patient’s family and personal history, thus giving a clearer picture of an individual woman’s risk of developing breast cancer. The BREVAGen™ test may be especially useful for women predisposed to hormone dependant breast cancer, including those who have undergone breast biopsies, as the test will provide information that can help physicians recommend alternative courses of action, such as more vigilant, targeted surveillance or preventive therapy, on a personalized patient-by-patient basis. For more information, please visit http://www.brevagen.com, or http://www.brevagen.com.au

About Genetic Technologies Limited

Genetic Technologies is an established diagnostics company with more than 20 years of experience in commercializing genetic testing, non-coding DNA and product patenting. The company has operations in Australia and the U.S. and is dual-listed on the ASX (GTG.AX) and NASDAQ (GENE). Genetic Technologies is focused on the commercialization of its patent portfolio through an active out-licensing program and the global expansion of its oncology and cancer management diagnostics assets. Its U.S. subsidiary, Phenogen Sciences, offers novel predictive testing and assessment tools to help physicians proactively manage women’s health risks. Phenogen’s lead product, BREVAGen, is a first in class, clinically validated risk assessment test for non-familial breast cancer. For more information, please visit http://www.gtglabs.com, http://www.phenogensciences.com.

Safe Harbor Statement

Any statements in this press release that relate to the Company’s expectations are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees. Since this information may involve risks and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. Additional risks associated with Genetic Technologies’ business can be found in its periodic filings with the SEC.

FOR FURTHER INFORMATION PLEASE CONTACT

Dr Paul D R MacLeman
Chief Executive Officer
Genetic Technologies Limited
Phone: +61 3 8412 7000

Rudi Michelson (Australia)
Monsoon Communications
(03) 9620 3333

Laura Landry (USA)
BluePrint Life Science Group
+1 (415) 375.3340 Ext. 102

ValidSoft (ETAK) Announces Partnership With Spindle

LONDON — (Marketwire) — 05/16/12 — ValidSoft (www.validsoft.com), a global supplier of advanced telecommunications-based fraud prevention, authentication and transaction verification solutions, and a wholly owned subsidiary of Elephant Talk Communications, Corp. (NYSE MKT: ETAK) (NYSE Amex: ETAK), today announced a strategic partnership with Spindle, Inc. (OTCBB: SPDL), a US-based provider of innovative mobile commerce and alternative payment solutions for merchants and consumers.

Spindle is well positioned to take advantage of the nascent mobile payments industry in North America and offers leading banks and merchants the ability to leverage their patented technology to enable participation in this emerging payments eco-system. As part of the relationship, ValidSoft will provide Spindle with its custom-built, advanced multi-layered, multi-factor authentication and transaction verification technologies: SMART (Secure Mobile Architecture for Real-time Transactions), which will be integrated into Spindle’s RhinoVerify security solution.

“We are delighted to announce this partnership with Spindle, which offers its banking customers, merchants and partners a compelling and innovative value proposition that we believe will generate a great deal of attention in the marketplace,” said Pat Carroll, chief executive officer of ValidSoft. “This is a strong technical win for ValidSoft, which provides further validation of our advanced security capabilities in the mobile payments arena and gives ValidSoft the ability to greatly expand our company’s presence in the United States. IE Market Research estimates that the potential mobile payments market in America is expected to reach $260 billion by 2015, so this relationship is a welcome opportunity to showcase ValidSoft’s unique capability to deliver its superior security and authentication solutions which are custom built for the mobile payments ecosystem in one of the world’s most security-demanding markets.”

Spindle is a pioneer in, and at the forefront of frictionless finance©, and a leading provider of alternative and mobile commerce payment platforms for merchants and consumers. Spindle, one of a handful of providers that offer an open payment service for both consumers and merchants, is actively pursuing what Mercator Advisory Group recently published is a 16 million underserved micro merchant addressable market. In addition, the company is pursuing the approximately 58 million households actively engaged in online and mobile commerce money movement as reported by Javelin Research.

“Spindle offers customers a patented solution and approach to mobile and alternative commerce,” said Bill Clark, president of Spindle. Mr. Clark continued, “With global mobile payments transactions projected to rise to $945 billion in 2015, and mobile payment users to rise to 893.3million, Spindle continues to seek best in breed international partners for this emerging mobile community.” Clark added, “Our Nurture, Convert, and Transact philosophy enables commerce across a wide range of payment form factors and infrastructure fully addressing both consumer and merchant interaction in the mobile ecosystem within the evolving social marketplace.”

Spindle’s patented portfolio includes RhinoPay®, a simple, mobile, secure payment solution which enables person-to-person, person-to-business, business-to-person, and business-to-business payments. The RhinoPay® platform is accessible universally through any networked or mobile device and delivers superior flexibility by enabling payments through credit and debit cards, check, closed loop, and ACH transfers.

Spindle’s RhinoVerify solution is a verification process that uses instant messaging, SMS, and other technologies to authenticate purchases and transactions. It works for all modes of transactions, including mobile commerce, e-commerce, and traditional retail.

“Maintaining the security and privacy of customer data has been — and will continue to be — Spindle’s highest priority,” said Clark. “Our relationship with ValidSoft enables us to integrate a ‘best-in-class’ payments-specific layered authentication and security solution that is seamless, transparent, and above all, highly effective. The integration of ValidSoft’s SMART into the RhinoVerify solution will further differentiate Spindle’s solutions in a burgeoning marketplace and we expect to be live in the second half of 2012.”

About ValidSoft

ValidSoft is a subsidiary of Elephant Talk Communications Corp. (NYSE MKT: ETAK) (NYSE Amex: ETAK), (www.elephanttalk.com) and is a market leader in providing solutions to counter electronic fraud relating to card, the internet, and telephone channels. ValidSoft’s solutions are at the cutting edge of the market and are used to verify the authenticity of both parties to a transaction (Mutual Authentication), and the integrity of the transaction itself (TransactionVerification) for the mass market, in a highly cost effective and secure manner, yet easy to use and intuitive. For more information, please visit (www.validsoft.com).

About Spindle, Inc.

Spindle, Inc. (OTCBB: SPDL) is an innovator of mobile payment solutions for the banking industry, retail sector and consumer-facing companies. A pioneer in “Frictionless Finance,” the company is actively developing new and improved ways for companies and end consumers to fluidly transact and exchange funds, regardless of platform. The Company is dedicated to delivery of simple, mobile, secure payment services crossing traditional boundaries by offering cutting-edge solutions that enable buyers, sellers and individuals to transact face-to-face or virtually using mobile or internet devices, this includes RhinoPay®, a frictionless way to pay. The company also owns and has developed an extensive intellectual property portfolio, including issued, pending, and provisional patents covering networked and mobile payments, credit card processing, and security. For more information, visit www.spindleHQ.com.

About Elephant Talk Communications
Elephant Talk Communications Corp. (NYSE MKT: ETAK), (www.elephanttalk.com) is an international provider of business software and services to the telecommunications and financial services industry. The company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enables them to fully provide telecom services as part of their business offerings. The company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multi-country discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information, visit (www.elephanttalk.com).

Forward-Looking Statements
Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company’s filings with the Securities and Exchange Commission (SEC), copies of which, are available from the SEC or may be obtained upon request from the Company.

Contacts:

Elephant Talk Communications Corp.
Mr. Steven van der Velden
Tel: + 31 20 653 59 16
Email: Email Contact

Investors Relations:
Alliance Advisors, LLC
Thomas P. Walsh
Tel: +1 212-398-3486
Email: Email Contact

Spindle Contact:
Investor Relations
John McFarland
SE Media
404-441-2027

ValidSoft:
Emmanuelle Filsjean
Tel: +44 (0)20 3170 8999
Email: Email Contact

For UK and EU:
Fishburn Hedges
+44 (0)20 7839 4321
Email: Email Contact

GlobalWise (GWIV) Reports First Quarter 2012 Financial Results

COLUMBUS, OH — (Marketwire) — 05/16/12 — GlobalWise Investments, Inc. (OTCBB: GWIV) (OTCQB: GWIV) (www.GlobalWiseInvestments.com) and its wholly owned subsidiary Intellinetics, Inc., a leading-edge technology company focused on the design, implementation and management of cloud-based Enterprise Content Management (ECM) systems in both the public and private sectors, today announce financial results for the three months ended March 31, 2012.

The company’s total revenues for the quarter were $360,328, an increase of $121,202, or 51%, from the company’s first quarter 2011 results of $239,126. Additionally, gross profit increased $21,398 to $56,381 for the quarter as compared to $34,983 during the first quarter of 2011, a 61% increase.

Total operating expenses increased by $780,852 for the quarter versus the same period a year earlier. This increase is primarily due to one-time expenses and corresponding costs of public company reporting incurred when Intellinetics, Inc. merged with GlobalWise.

GlobalWise’s President and CEO Mr. William J. “BJ” Santiago stated, “We had a very busy first quarter this year and we’re extremely pleased with the direction and transformation of the company in such a short period. Leveraging our 18-year operating history as a software solutions provider, we’re now rapidly migrating to a cloud-based, channel distribution model with great success. For example, our substantial first quarter growth is in direct correlation to the success of on-boarding just one key channel partner in the third quarter of 2011 that serves the healthcare industry. I believe that the success we’ve had in on-boarding similar dynamic partners late last year and throughout this first quarter will replicate the same financial success over the next year. We believe the short-term, one-time expenses of the merger will be more than offset in the future by the benefits of having access to additional sources of capital as we continue to execute our growth strategy both in North America and abroad in the cloud computing sector.”

With the merger complete, GlobalWise has significantly ramped-up its sales efforts and has entered into five new channel partner agreements since February. The Company believes the expansion of its reseller program to include Latin America in the second quarter of 2012 will continue to increase, driving growth for the next several years.

About GlobalWise Investments, Inc.

GlobalWise Investments, Inc., via its wholly owned subsidiary Intellinetics, Inc., is a Columbus, Ohio based Enterprise Content Management (ECM) pioneer with industry-leading software that delivers cloud ECM based solutions on-demand. The Company’s flagship platform, Intellivue™, represents a new industry benchmark and game-changing solution by enabling clients to access and manage the content of every scanned document, file, spreadsheet, email, photo, audio file or video tape — virtually anything that can be digitized — in their enterprise from any PC, laptop, tablet or smartphone from anywhere in the world.

For additional information, please visit the Company’s corporate website: www.GlobalWiseInvestments.com

This press release may contain “forward-looking statements.” Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements may include, without limitation, statements about our market opportunity, strategies, competition, expected activities and expenditures as we pursue our business plan. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot predict the effect that market conditions, customer acceptance of products, regulatory issues, competitive factors, or other business circumstances and factors described in our filings with the Securities and Exchange Commission may have on our results. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.

GlobalWise Investments, Inc.
Columbus, Ohio
www.GlobalWiseInvestments.com
614-388-8909
Contact@GlobalWiseInvestments.com

Mission Investor Relations
Atlanta, Georgia
http://www.MissionIR.com
404-941-8975
Investors@MissionIR.com

SEFE Inc. (SEFE) Pursuing Relationship with the University of Colorado

SEFE, Inc. (OTCBB:SEFE) (“SEFE”) (“The Company”), a technology- and solutions-driven sustainability company, announced today that it is pursuing a partnership with the University of Colorado’s Department of Electrical and Computer Engineering. The SEFE team plans to work with both the Colorado Center for Power Electronics and the Center for Environmental Technology to perform research and development related to the physics and engineering of the Harmony III system.

“We are pleased to have the privilege of working with some of the top atmospheric scientists in the world through the University of Colorado,” stated Michael Hurowitz, SEFE’s Director of Engineering. “The university will be a critical partner in perfecting SEFE’s core technology and further developing the key aspects of the Harmony III platform.”

The research partnership will seek to develop a more accurate understanding of the physics governing atmospheric corona discharge. The goal is to develop a mathematical routine and compare to experimental data gathered in testing various elements of the Harmony III system. SEFE will also engage engineering teams from the university to assist in the design and testing of various subsystems related to Harmony III.

For more information, visit www.SEFElectric.com.

About SEFE, Inc.

SEFE focuses on pushing the boundaries of what’s possible, embracing innovation and employing the cutting-edge to solve problems, and offering sustainable solutions to a world hungry for invention, direction and leadership. SEFE is technology- and solutions-driven, focusing on developing inventions that provide a real-world impact and true profitability. So, success is measured by both a sustainable return on investment, as well as a project’s sustainability from an environmental perspective.

For more information, visit www.SEFElectric.com.

Forward-Looking Statements

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Mindspeed (MSPD) to Present at the 13th Annual B. Riley & Co. Investor Conference

Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today announced that Raouf Y. Halim, chief executive officer, will present at the 13th Annual B. Riley & Co. Investor Conference on Wednesday, May 23, 2012 at 8:30 a.m. PT. The conference will be held at Loews Santa Monica Beach Hotel, in Santa Monica, California.

Mindspeed’s team will discuss current business trends as well as its innovative product line and strength in supplying network infrastructure semiconductor solutions. In particular, management will highlight its leading position in small cell solutions to meet the infrastructure needs required by the global wireless 4G/LTE rollouts, including 25 customer engagements. The presentation will also focus on its system-on-chip (SoC) products for high growth markets, including fiber optic access, communication convergence processing and high-performance analog solutions, all of which it currently supplies to tier-1 OEMs. The presentation will be webcast live and archived for replay for 30 days on the Investors section of Mindspeed’s website at www.mindspeed.com.

About Mindspeed Technologies

Mindspeed Technologies (NASDAQ: MSPD) is a leading provider of network infrastructure semiconductor solutions to the communications industry. The company’s low-power system-on-chip (SoC) products are helping to drive video, voice and data applications in worldwide fiber-optic networks and enable advanced processing for 3G and long-term evolution (LTE) mobile networks. The company’s high-performance analog products are used in a variety of optical, enterprise, industrial and video transport systems. Mindspeed’s products are sold to original equipment manufacturers (OEMs) around the globe.

To learn more, please visit www.mindspeed.com. Company news and updates are also posted at www.twitter.com/mindspeed.

Spanish Broadcasting System (SBSA) Appoints Albert Rodriguez To Chief Operating Officer

Timberline Resources (TLR) Amends Acquisition of 100-Percent Ownership of the Butte Highlands Gold Mine

COEUR D’ALENE, IDAHO — (Marketwire) — 05/16/12 — Timberline Resources Corporation (TSX VENTURE:TBR)(NYSE Amex:TLR) (“Timberline” or the “Company”) announced today that it has signed an amended non-binding Letter of Intent to increase its ownership stake in the Butte Highlands Gold Project from 50-percent to 100-percent, acquiring the remaining interest in Butte Highlands JV, LLC (“BHJV”) from its joint venture partner, Highland Mining, LLC (“Highland Mining”) as previously announced on April 10, 2012.

The revised terms of the agreement call for Timberline to acquire the remaining 50-percent interest in BHJV in exchange for issuance of shares of the Company’s common stock, not to exceed 5% of the common stock issued and outstanding as of the date of closing, along with a Net Smelter Return (NSR) production royalty of 5% on all production from Butte Highlands, and a future cash payment to Highland Mining of $6 million to be made no later than 2 years subsequent to the commencement of commercial production at Butte Highlands. Consistent with the original agreement, Highland Mining will completely cancel its outstanding loan, including principal and interest, to BHJV for more than $24-million of development costs incurred at the project to-date. The deal is expected to close in the current quarter, subject to standard closing conditions and regulatory approvals, including the approval of the NYSE Amex and the TSX Venture Exchange.

Highland Mining is controlled by Ron Guill, who is also a director of the Company and the Company’s largest shareholder.

About Timberline Resources

Timberline Resources Corporation is exploring and developing advanced-stage gold properties in the western United States. Timberline is working on a transaction to increase its ownership stake in its Butte Highlands Joint Venture in Montana where gold production is targeted to commence later this year. Timberline’s exploration is primarily focused on the goldfields of Nevada, where it is advancing its flagship Lookout Mountain Project toward a production decision while exploring a pipeline of quality earlier-stage projects at its South Eureka Property and elsewhere. Timberline management has a proven track record of discovering economic mineral deposits and developing them into profitable mines.

Timberline is listed on the NYSE Amex where it trades under the symbol “TLR” and on the TSX Venture Exchange where it trades under the symbol “TBR”.

Forward-Looking Statements

Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the timing of the Company’s continued exploration and drill program at South Eureka and Lookout Mountain, the timing of assay results from such drilling program being released, the Company’s ability to expand the South Eureka resource, purchase of the Butte Highlands JV, LLC membership interests (including the expected timing of such purchase), the timing or results of the Company’s drill programs at Butte Highlands, including the timing of obtaining necessary permits, the development and production of the Company’s Butte Highlands project and projects on its South Eureka property, the potential life of the mine at the Butte Highlands project, the targeted production date for the Butte Highlands project, targeted date for production at South Eureka, the potential for a heap-leach mine at South Eureka, targeted dates for the South Eureka technical report and economic scoping study, and possible growth of the Company and the Company’s expected operations, including potential development of an open pit extraction and run-of-mine heap leach processing and operation at South Eureka. When used herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target”, “intend” and “expect” and similar expressions, as they relate to Timberline Resources Corporation, its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, whether or not the Company completes the purchase of the Butte Highlands JV, LLC membership interests, risks related to the timing and completion of the drilling programs at Butte Highlands and South Eureka, risks and uncertainties related to mineral estimates, risks related to the inherently dangerous activity of mining, and other such factors, including risk factors discussed in the Company’s Annual Report on Form 10-K for the year ended September 30, 2011. Except as required by Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements.

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.

Contacts:
Timberline Resources Corporation
Paul Dircksen
CEO
208.664.4859

Salesforce.com (CRM) Announces Annual Stockholders Meeting

Intellicheck Mobilisa (IDN) Receives Contract Worth $1M

Intellicheck Mobilisa, Inc. (NYSE Amex: IDN), a leading technology company specializing in wireless and identity systems, announced today that a seaport has purchased the Company’s IM2700 mobile Transportation Worker Identity Credential (TWIC) reader system. The contract, valued at $1 million, is the largest single TWIC sale in the Company’s history.

Steve Williams, Chief Executive Officer of Intellicheck Mobilisa, said, “This is the largest TWIC sale we have made to one facility and a market we’ve been creating and leading. The port wanted to increase their security efforts in order to meet the new security requirements associated with the use of TWIC cards. Our IM2700 TWIC reader was a natural addition to their security procedures.”

The TWIC program is an initiative of the Transportation Security Administration and U.S. Coast Guard to provide tamper-resistant biometric identification cards to port facility workers. TWIC cards have become a mandatory requirement for access to all U.S. ports as of April 15, 2009. Intellicheck Mobilisa’s TWIC reader handheld device is used to validate TWIC cards. The company believes such a universal reader will ultimately be needed at each of the more than 175 seaports in the U.S. Intellicheck Mobilisa’s TWIC reader is currently in use at major port facilities in California, Massachusetts, New Jersey, Texas and the State of Washington.

About Intellicheck Mobilisa

Intellicheck Mobilisa (ICMOBIL) is a leading technology company that is engaged in developing and marketing wireless technology and identity systems for various applications, including mobile and handheld access control and security systems for the government, military and commercial markets. ICMOBIL’s products include the Fugitive Finder system, an advanced ID card access control product currently protecting approximately 100 military and federal locations; ID Check, a patented technology that instantly reads, analyzes, and verifies encoded data in magnetic stripes and barcodes on government-issued IDs from U.S. and Canadian jurisdictions, designed to improve the Customer Experience for the financial, hospitality and retail sectors; and Aegeus, a wireless security buoy system for the government, military and oil industry.

For more news and information on ICMOBIL, please visit www.icmobil.com.

YM BioSciences (YMI) Reports Operational and Financial Results for the Third Quarter

Goldfield (GV) Announces Sharply Improved First Quarter Results

MELBOURNE, Fla., May 11, 2012 /PRNewswire/ — The Goldfield Corporation (NYSE Amex: GV) today announced continued improved results for the three months ended March 31, 2012. The Goldfield Corporation is a leading provider of electrical construction services in the Southeast with operations throughout much of the United States. Goldfield is also engaged, to a much lesser extent, in real estate development activities on the east coast of Florida.

Revenue for the three months ended March 31, 2012 nearly doubled, increasing to $17.7 million from $8.9 million in the comparable prior year period. This increase was attributable to higher electrical construction revenue.

Because of improved results in the electrical construction segment, the Company’s operating income for the three months ended March 31, 2012 increased to $2.7 million from an operating loss of $1,000 in the same prior year period.

For the three months ended March 31, 2012, the electrical construction segment’s operating results showed significant improvement, with revenue of $17.1 million and operating income of $3.3 million, compared to revenue of $8.2 million and operating income of $328,000 in the prior year. This increase in revenue was largely attributable to an increase in demand for our electrical construction services, particularly our transmission work, as a result of our expansion efforts during 2010 and 2011. As previously announced in February of 2012, the Company’s electrical construction segment was awarded a $52.0 million transmission line construction contract as part of the Competitive Renewable Energy Zones (“CREZ”) projects. Construction of the CREZ project commenced last month, and is currently scheduled to be completed on August 31, 2013. Our results for the first quarter did not include any revenue from this project.

For the three months ended March 31, 2012, the real estate development segment had revenue of $634,000 and operating income of $124,000, compared to revenue of $766,000 and operating income of $225,000, respectively, for 2011. We currently have no condominium projects under construction, and only have one unit remaining unsold from our Pineapple House project.

Net income for the three months ended March 31, 2012 was $2.7 million, or $0.10 per share, compared to a net loss of $11,000, or ($0.00) net loss per share, in the comparable prior year period.

John H. Sottile, Goldfield’s President and Chief Executive Officer stated, “The prospects for our electrical construction business are brighter today than at any time in recent history. Our backlog at March 31, 2012 was $70.6 million, up from $6.2 million at March 31st last year.” Mr. Sottile also added, “We believe that our recent expansion into Texas and our new CREZ project will provide a good opportunity for further growth in this region.”

About Goldfield

Goldfield is a leading provider of electrical construction and maintenance services in the energy infrastructure industry throughout much of the United States. The company specializes in installing and maintaining electrical transmission lines for a wide range of electric utilities. Goldfield is also involved, to a much lesser extent, in real estate development activities on Florida’s east coast.

For additional information on our first quarter results, please refer to our Quarterly Report on Form 10-Q being filed with the Securities and Exchange Commission and visit the Company’s website at http://www.goldfieldcorp.com.

This press release includes forward-looking statements based on our current expectations. Our actual results may differ materially from what we currently expect. Factors that may affect the results of our electrical construction operations include, among others: the level of construction activities by public utilities; the timing and duration of construction projects for which we are engaged; our ability to estimate accurately with respect to fixed price construction contracts; and heightened competition in the electrical construction field, including intensification of price competition. Factors that may affect the results of our real estate development operations include, among others: the continued weakness in the Florida real estate market; the level of consumer confidence; our ability to acquire land; increases in interest rates and availability of mortgage financing to our buyers; and increases in construction and homeowner insurance and the availability of insurance. Factors that may affect the results of all of our operations include, among others: adverse weather; natural disasters; effects of climate changes; changes in generally accepted accounting principles; ability to obtain necessary permits from regulatory agencies; our ability to maintain or increase historical revenue and profit margins; general economic conditions, both nationally and in our region; adverse legislation or regulations; availability of skilled construction labor and materials, and material increases in labor and material costs; and our ability to obtain additional and/or renew financing. Other important factors which could cause our actual results to differ materially from the forward-looking statements in this press release are detailed in the Company’s Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operation sections of our Annual Report on Form 10-K and Goldfield’s other filings with the Securities and Exchange Commission, which are available on Goldfield’s website: http://www.goldfieldcorp.com.

For further information, please contact:
The Goldfield Corporation
Phone: (321) 724-1700
Email: investorrelations@goldfieldcorp.com

Wowjoint Holdings Limited (BWOW) Signs Contract with Titan Peru S.A.C.

BEIJING, May 11, 2012 /PRNewswire-Asia/ — Wowjoint Holdings Limited (“Wowjoint,” or the “Company”) (Nasdaq: BWOW, BWOWU, BWOWW), China’s innovative infrastructure solutions provider of customized heavy duty lifting and carrying machinery, today announced it entered into an agreement to provide a tire gantry to a Peruvian company.

The agreement is with Titan Peru S.A.C., an import/export company in the construction industry, for a 50 ton Rubber Tire Gantry. The equipment is used for transporting precast concrete beams from the yard to the project site. The Company has started production and received 30% of the contract price as an advance payment. This is an initial contract with Titan Peru and we expect to have future contracts to export other Wowjoint products to Peru.

“We are pleased to have another new customer and to continue our International expansion with our first sale into South America,” Mr. Yabin Liu, Chief Executive Officer of Wowjoint stated. “Our sales team has continued to focus on our expansion into new markets and we’re pleased to see the progress we’ve made with the recent agreement with customers in Malaysia and now in Peru. Wowjoint has been successful in developing a sales team and business network covering East Asia, Southeast Asia, Europe, the Middle East, North American and South America. We are excited about the opportunities we have in these new markets.”

About Wowjoint Holdings Limited

Wowjoint is a leading provider of customized heavy duty lifting and carrying machinery used in large scale infrastructure projects such as railway, highway and bridge construction. Wowjoint’s main product lines include launching gantries, tyre trolleys, special carriers, marine hoists and special purpose equipment. The Company’s innovative design capabilities have resulted in patent grants and proprietary products. Wowjoint believes it is well-positioned to benefit directly from China’s rapid infrastructure development by leveraging its extensive operational experience and long-term relationships with established blue chip customers. Information on Wowjoint’s products and other relevant information are available on its website at http://www.wowjoint.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Wowjoint undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after the date of this communication. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication. All forward-looking statements are qualified in their entirety by this cautionary statement. All subsequent written and oral forward-looking statements concerning Wowjoint or other matters and attributable to Wowjoint or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Wowjoint does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to the matters discussed in this news release.

For additional information contact:

Wowjoint Holdings:
Aubrye Foote, Vice President Investor Relations
Tel: +1-530-475-2793
Email: aubrye@wowjoint.com
Website: www.wowjoint.com

Tengion Provides Business Update and Reports Q1 2012 Financial Results

NOVAVAX (NVAX) Reports First Quarter 2012 Financial Results

ROCKVILLE, Md., May 4, 2012 (GLOBE NEWSWIRE) — Novavax, Inc. (Nasdaq:NVAX) today announced its financial results for the first quarter ended March 31, 2012.

The company reported a net loss of $7.3 million, or $0.06 per share, for the first quarter of 2012, compared to a net loss of $7.5 million, or $0.07 per share, for the first quarter of 2011. The company had significantly higher revenue in the first quarter of 2012 of $4.6 million as compared to $0.8 million for the same period in 2011, due primarily to revenue under the contract with the U.S. Department of Health and Human Services’ Office of Biomedical Advanced Research and Development Authority (HHS BARDA). In conjunction with the increased HHS BARDA revenue, the cost of contract revenue increased to $3.8 million in the first quarter of 2012 as compared to $0.3 million for the same period in 2011. In addition, research and development expenses remained flat year-over-year at $5.1 million.

The increase in cost of contract revenue reflects a company decision to conduct the current Phase II dose-ranging clinical trial in Australia under its existing U.S. investigational new drug application (“IND”) for its trivalent seasonal influenza vaccine candidate as opposed to waiting to conduct the trial under a new IND for its quadrivalent vaccine candidate. The company will record the outside clinical trial costs as cost of contract revenue until it submits the data from the trial for FDA review, expected in the second half of 2012. The outside clinical trial costs for this trial will be submitted for reimbursement to HHS BARDA and recorded as revenue by the company following its submission of the data to the quadrivalent IND. The financial impact of this delay in revenue recognition is based on this trial’s outside clinical trial costs that are expected to total approximately $3.1 million, of which $1.7 million was incurred through March 31, 2012.

General and administrative expenses increased to $3.2 million in the first quarter of 2012 as compared to $2.8 million for the same period in 2011, due primarily to non-cash expenses associated with the company’s new office facility and higher professional fees.

As of March 31, 2012, the company had $20.7 million in cash and cash equivalents and short-term investments compared to $18.3 million as of December 31, 2011. Net cash used in operating activities for the first quarter of 2012 was $4.2 million compared to $9.0 million for the same period in 2011, a 53% reduction from the prior year due primarily to revenue under the HHS BARDA contract.

Key Highlights during the First Quarter of 2012:

• Launched a Phase II dose-ranging clinical trial of the company’s trivalent and quadrivalent seasonal influenza virus-like particle (VLP) vaccine candidates in Australia. The trial will evaluate the immunogenicity and safety of three dose levels of the company’s seasonal recombinant VLP influenza vaccine candidates in healthy adults between the ages of 18 and 64.
• Presented positive results from a Phase I trial of the company’s recombinant nanoparticle vaccine candidate against respiratory syncytial virus (RSV) at the XIV International Symposium on Viral Infections. Findings from this Phase I trial are consistent with pre-clinical results in relevant animal models, which indicated that the company’s vaccine candidate was generally well-tolerated, highly immunogenic and produced functional antibodies that neutralized RSV.
• Reported manufacturing progress and preparations to begin clinical testing of influenza and rabies vaccines under the company’s joint venture in India with Cadila Pharmaceuticals. Rabies is the largest selling vaccine in India and China is the largest market with 12-15 million vaccine doses annually; and
• Expanded the company’s senior management team with the appointments of John Herrmann III as Vice President and General Counsel and Mervyn Hamer as Vice President of Manufacturing.

“The first quarter was a very productive period for our company as we launched a Phase II trial of our seasonal influenza vaccine candidates and reported the very encouraging, positive results from our Phase I RSV trial,” said Stanley C. Erck, President and Chief Executive Officer of Novavax. “The Phase II seasonal influenza vaccine trial is particularly important because we expect that it will help us establish the immunogenicity, safety and tolerability of our quadrivalent seasonal influenza VLP vaccine candidate. The data resulting from this trial will aid in determining the most effective and appropriate dose for evaluation in our upcoming Phase IIb dose-confirmatory trial and ultimately in our Phase III registration trial. In addition, the data from our Phase I RSV trial continues to drive interest among potential partners for this important disease target. We expect to launch two RSV clinical trials in both the elderly and women-of-child bearing-age populations in the second half of 2012.”

Conference Call

Novavax’s management will host its quarterly conference call today at 10:00 a.m. EDT. The live conference call will be accessible on Novavax’s website at www.novavax.com under “Investor Info/Events” or by telephone at 1 (877) 212-6076 (Domestic) or 1 (707) 287-9331 (International). A replay of the webcast will be available on the Novavax website for 60 days after the call and a replay of the conference call will be available beginning today at 1:00 pm through July 04, 2012. To access the replay of the conference call, dial 1 (855) 859-2056 (Domestic) or 1 (404) 537-3406 (International) and enter passcode 76044510.

About Novavax

Novavax, Inc. (Nasdaq:NVAX) is a clinical-stage biopharmaceutical company creating novel vaccines to address a broad range of infectious diseases worldwide. Using innovative virus-like particle (VLP) and recombinant nanoparticle technology, as well as new and efficient manufacturing approaches, the company produces potent vaccine candidates to combat diseases, with the goal of allowing countries to better prepare for and more effectively respond to rapidly spreading infections. Novavax is committed to using its technology platforms to create geographic-specific vaccine solutions and is therefore involved in several international partnerships, including collaborations with Cadila Pharmaceuticals of India and LG Life Sciences of Korea. Together, these companies have worldwide commercialization capacity and the global reach to create real and lasting change in the biopharmaceutical field. Additional information about Novavax is available on the company’s website, www.novavax.com.

Forward Looking Statements

Statements herein relating to the future of Novavax and its ongoing development of its vaccine products are forward-looking statements. Novavax cautions that these forward-looking statements are subject to numerous risks and uncertainties, that may cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include those identified under the heading “Risk Factors” in the Novavax Annual Report on Form 10-K for the year ended December 31, 2011, and filed with the Securities and Exchange Commission. Novavax cautions investors not to place considerable reliance on the forward-looking statements contained in this press release. Investors, potential investors, and others should give careful consideration to risks and uncertainties and are encouraged to read Novavax filings with the SEC, available at sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and Novavax undertake no obligation to update or revise any of the statements.

CONTACT: Frederick W. Driscoll
         VP, Chief Financial Officer and Treasurer
         Novavax, Inc.
         240-268-2000

Real Goods Solar (RSOL) Engages Liolios Group to Lead Investor Relations Program

LOUISVILLE, Colo., May 2, 2012 (GLOBE NEWSWIRE) — Real Goods Solar, Inc. (Nasdaq:RSOL), a leading provider of turnkey commercial and residential solar energy solutions, has engaged Liolios Group to lead a new investor relations and financial communications program.

“We have arrived at a major inflection point in our growth, demonstrated by record revenue and solid cash flow in 2011, and supported by the Alteris acquisition that has dramatically increased our economy of scale and national presence,” stated Bill Yearsley, Real Goods Solar’s chief executive officer. “With this stronger foundation in place, we believe our company and its shareholders would benefit from the experienced IR professionals at Liolios Group.”

In collaboration with Real Goods Solar management, Liolios Group will refine and deliver the company’s message to the financial community. Liolios Group will also schedule a number of one-on-one conference calls, road shows and financial conferences that will engage key influencers, such as equity analysts, institutional investors and members of the financial press.

For more information about Real Goods Solar, contact Liolios Group at 1-949-574-3860 or email RSOL@liolios.com.

About Liolios Group, Inc.

Liolios Group, Inc. is a strategic financial communications firm focused on small-cap companies across a broad range of industry classifications. Liolios Group aims to deliver superior performance in corporate messaging and positioning, investor awareness, analyst and financial press coverage, and capital attraction. Founded in 1999, Liolios Group executives have extensive experience in finance and investments, and have represented more than 125 global companies in a wide range of industries. For more information about Liolios Group, go to www.liolios.com.

About Real Goods Solar, Inc.

Real Goods Solar, Inc. (Nasdaq:RSOL) is a leading provider of turnkey commercial and residential solar energy solutions, with more than 13,000 solar systems in place. Real Goods Solar has more than 33 years of experience in solar energy, beginning with the sale in 1978 of the first solar photovoltaic panels in the United States. With 16 offices across the West and the Northeast, Real Goods Solar is one of the largest solar energy installers in the U.S. For more information about Real Goods Solar, please visit www.realgoodssolar.com, or call (888) 507-2561.

The Real Goods Solar, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6455

CONTACT: Company Contact:
         John Coletta
         Chief Financial Officer
         Real Goods Solar, Inc.
         Tel (303) 222-8310
         john.coletta@realgoods.com

         Investor Relations:
         Ron Both
         Liolios Group, Inc.
         Tel (949) 574-3860
         RSOL@liolios.com

PURE Bioscience (PURE) Hard Surface Showcased at National Restaurant Association Show 2012

PURE Bioscience, Inc. (NASDAQ:PURE), creator of the patented silver dihydrogen citrate (SDC) antimicrobial, today announced that Intercon Chemical Company is showcasing the PURE Complete System in conjunction with its Clearly Better Solutions product line at this year’s National Restaurant Association Show, May 5-8 at McCormick Place in Chicago (booth number 1085). The annual NRA Show draws more than 58,000 restaurant and food service industry professionals from all 50 states and more than 100 countries, and presents the newest innovations and latest information on trends and issues.

The PURE Complete System product line includes PURE Hard Surface disinfectant and food contact surface sanitizer, PURE Multi-Purpose Cleaner Concentrate and PURE Floor Cleaner Concentrate.

Jim Epstein, President of Intercon, stated, “The NRA Show is an excellent venue to present PURE Hard Surface, as restaurants bear tremendous responsibility for national food safety. Americans are spending more time and money each year eating away from home, and studies show that at least 50% of foodborne disease outbreaks can be attributed to restaurants. We know that disinfection and food contact surface sanitization is a key element of pathogen control in restaurants because bacteria and viruses survive on, and can contaminate, hard surfaces such as counters, door handles, appliances, tables, chairs and trays. Restaurants can be confident that PURE Hard Surface quickly stops the contamination cycle.”

Tom Myers, PURE Bioscience’s Executive Vice President, Sales and Marketing, added, “Even just one outbreak of foodborne illness can have devastating effects on a business, and Intercon’s presentation of the benefits of implementing PURE Hard Surface will resonate with distributors and customers. The quick kill times of PURE’s low-toxicity and odorless formula, along with SDC’s GRAS status as a contact biocide, set PURE apart from toxic chemicals currently used in restaurants. PURE Hard Surface is an ideal choice to meet the health and business challenges of food safety in the restaurant industry.”

About the PURE Complete Cleaning, Sanitizing and Disinfecting System

US EPA registered PURE Hard Surface disinfectant and food contact surface sanitizer provides an unparalleled combination of high efficacy and low toxicity with 30-second bacterial and viral kill times and 24-hour residual protection. SDC-based PURE Hard Surface completely kills resistant pathogens like MRSA and Carbapenem-resistant Klebsiella pneumoniae (NDM-1) and also effectively eliminates dangerous fungi and viruses including HIV, Hepatitis B, Hepatitis C, Norovirus, Influenza A, Avian Influenza and H1N1 as well as hazardous food pathogens such as E. coli, Salmonella and Campylobacter. PURE Hard Surface delivers powerful broad-spectrum efficacy while remaining classified as least-toxic (Category IV) by the US EPA, and its active ingredient, SDC, has been determined Generally Recognized as Safe (GRAS) for use as a biocide on food processing equipment, machinery and utensils.

PURE’s Multi-Purpose Cleaner and Floor Cleaner concentrates are non-toxic, environmentally responsible cleaning products protected by SDC, a natural, non-toxic antimicrobial. SDC ensures the quality and safety of PURE Floor Cleaner and PURE Multi-Purpose Cleaner without human or environmental exposure to toxic chemical preservatives. PURE Floor Cleaner and PURE Multi-Purpose cleaner are non-flammable and contain no EDTA, phosphates, ammonia or bleach as well as no VOCs or NPEs. PURE Floor Cleaner and PURE Multi-Purpose Cleaner provide professional strength cleaning in a concentrate formula that yields a 1:128 use dilution that is safe for use on all resilient surfaces. The PURE Complete system strengthens infection control and sustainability programs while providing a cost-effective and user-friendly solution.

About Intercon Chemical Company and Clearly Better Solutions.

Privately owned Intercon Chemical Company in St. Louis, Missouri, employees more than 150 people at its 250,000 square foot FDA and EPA-registered cGMP compliant manufacturing facility. Intercon has operated for more than 30 years in the cleaning and sanitation chemical manufacturing and service industries with expertise in formulating, manufacturing and marketing liquids, powders and solids as well as packaging and labeling. Intercon provides state-of-the-art chemical products and programs to its network of distributors in multiple markets, including: facility management companies, janitorial supply companies, food service sanitation, healthcare and infection control, commercial floor care, critical process cleaning, food processing facility maintenance, institutional laundry, contract packaging and green products. For more information about Intercon Chemical Company, please visit www.interconchemical.com. Intercon’s Clearly Better brand products and programs are designed to bring breakthrough cleaning, disinfection, sanitization, skin care, air treatment and odor control technologies to market that offer innovative solutions to solve problems not adequately addressed by current options. Clearly Better offers programs under its Smart Drains, Smart Floors, Smart Air, Clearly Better Scents and Clearly Better Medical brands. More information is available at www.clearlybetter.com.

About PURE Bioscience, Inc.

PURE Bioscience, Inc. develops and markets technology-based bioscience products that provide solutions to numerous global health challenges, including Staph (MRSA). PURE’s proprietary high efficacy/low toxicity bioscience technologies, including its silver dihydrogen citrate-based antimicrobials, represent innovative advances in diverse markets and lead today’s global trend toward industry and consumer use of “green” products while providing competitive advantages in efficacy and safety. Patented SDC is an electrolytically generated source of stabilized ionic silver, which formulates well with other compounds. As a platform technology, SDC is distinguished from competitors in the marketplace because of its superior efficacy, reduced toxicity and the inability of bacteria to form a resistance to it. PURE is headquartered in El Cajon, California (San Diego metropolitan area). Additional information on PURE is available at www.purebio.com.

This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company’s cash position and liquidity requirements, the Company’s failure to implement or otherwise achieve the benefits of its strategic initiatives, acceptance of the Company’s current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Digital Ally, Inc. (DGLY) Schedules Investor Conference Call to Discuss First Quarter 2012 Operating Results

OVERLAND PARK, KS — (Marketwire) — 05/04/12 — Digital Ally, Inc. (NASDAQ: DGLY), which develops, manufactures and markets advanced digital technology products for law enforcement, homeland security and commercial security applications, today announced that the Company will host an investor conference call on Friday, May 11, 2012 at 11:15 a.m. Eastern Time to discuss its operating results for the first quarter of 2012, along with other topics of interest. The Company will release its operating results in a press release after the market closes on Thursday, May 10, 2012.

Shareholders and other interested parties may participate in the conference call by dialing 877-317-6789 (international/local participants dial 412-317-6789) and asking to be connected to the “Digital Ally, Inc. Conference Call” a few minutes before 11:15 a.m. EDT on May 11, 2012.

A replay of the conference call will be available one hour after the completion of the conference call from May 11, 2012 until 9:00 a.m. on July 10, 2012 by dialing 877-344-7529 (international/local participants dial 412-317-0088) and entering the conference ID# 10013728.

About Digital Ally, Inc.

Digital Ally, Inc. develops, manufactures and markets advanced technology products for law enforcement, homeland security and commercial applications. The Company’s primary focus is digital video imaging and storage. For additional information, visit www.digitalallyinc.com

The Company is headquartered in Overland Park, Kansas, and its shares are traded on The Nasdaq Capital Market under the symbol “DGLY”.

For Additional Information, Please Contact:
Stanton E. Ross
CEO
(913) 814-7774
or
RJ Falkner & Company, Inc.
Investor Relations Counsel
(800) 377-9893
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GlobalWise (GWIV) Provides Shareholder Update and Reports International Expansion to Latin America

COLUMBUS, OH — (Marketwire) — 05/03/12 — GlobalWise Investments, Inc. (OTCBB: GWIV) (OTCQB: GWIV) (www.GlobalWiseInvestments.com) and its wholly owned subsidiary Intellinetics, Inc., a leading-edge technology company focused on the design, implementation and management of cloud-based Enterprise Content Management (“ECM”) systems in both the public and private sectors, today provide an update to shareholders as well as announce global expansion to Latin America.

The management of GlobalWise thought it appropriate at this time to update shareholders on the Company’s recent accomplishments, and the competitive advantages of its technology and the successes the Company is having in developing a strong partner/reseller network.

GlobalWise is a leading-edge technology company focused on the rapidly growing Enterprise Content Management (ECM) industry, which Gartner predicts will exceed $5.7 billion by 2014 with a compound annual growth rate of 10.1%. Through its cloud-based Intellivue™ ECM product line and unique Channel / OEM distribution model, Intellinetics, a wholly owned subsidiary of GlobalWise, is well positioned to dominate in the underserved small-to-mid sized business ECM marketplace.

Intellivue™, the company’s flagship platform, offers substantial savings to any size organization in virtually any industry by offering them immediate access to all of their structured and unstructured (i.e. Word documents, JPEGs, Images, Audio Files, Video Files, Email w/ Attachments, Fax, Hard-copy documents, etc.) corporate information securely, at their desktop or mobile devices (i.e. iPad or iPhone technologies) via the Web. Utilizing this system flexibility, Intellivue™ has seen great success in the following target vertical markets by building ‘on-demand’ process solution templates that are pre-configured with 90% ‘best-practice’ for immediate economic and improved operational impact by enabling ‘quicker-time-to-value’ and increased client adoption; they include:

• Accounts Payable
• Automotive Dealership
• Education K-12
• Financial Services
• Healthcare
• Higher Education
• Human Resources
• Law Enforcement Corrections
• Legal
• Manufacturing Distribution
• Public Sector
• Retail
• Special Education

Through these solution templates, the Intellinetics platform defines a new industry benchmark and game-changing approach by combining advanced virtualization and automated content management with an open and service-oriented architecture using Web services. The Company provides strategies, tactics and technologies to manage paper and digital assets from capture to long-term archive, without the need for manual processes conducted by a full-time employee. In short, the Company offers process efficiencies on their Intellivue™ ECM platform versus selling features and functions of ECM technologies.

IBM Market Insights predicts adoption of cloud computing to grow by 26% CAGR between 2010 and 2013.

The Company’s ECM service is delivered to customers via five unique delivery models that cover the full spectrum of business needs: Cloud/SaaS (Software as a Service); Hardware Vendor Integrated Service; Software Vendor Integrated Service; Premise (Client-Server); and Hybrid (Premise & Cloud/SaaS). This diversity provides advanced security and privacy features with an on-demand structure for businesses in the large, underserved small-to-mid sized business markets.

About the Company’s Channel Partners

Each successful channel partner will add to the revenue of the Company without a significant increase in fixed expenses. While revenue from each successful partner will vary from $50,000 to $900,000 annually, the average channel partner is expected to grow annual revenue by $150,000 – $200,000.

GlobalWise added 14 new channel partner agreements throughout 2011 and expects the growth of its reseller program to accelerate substantially in 2012. By implementing a channel sales model with strategic partners who are already selling software solutions into an established and trusted client base with strategic target markets, the Company is now able to rapidly access a much larger universe of potential clients. The Company anticipates that new channel partnerships will drive triple-digit growth for the next several years.

On April 25, 2012, the company signed its first global expansion partner, SOIN Integrales (www.soin.co.cr), which is headquartered out of Costa Rica. SOIN is a 20+year integrator with a core practice of reselling SAP, Oracle and Sybase ERP systems in both the public and private sectors. Intellinetics will be their only exclusive ECM offering to Latin America. The initial Intellivue™ solution and product launch will start initially in Mexico, Costa Rica, Panama, El Salvador and Nicaragua.

In addition, the Company has signed multiple agreements recently, including:

March 6, 2012 – GlobalWise Announces Channel Sales Partnership With Primary Solutions

Primary Solutions (www.primarysolutions.net) provides software products and services for private and governmental markets within the developmentally disabled community in Ohio. Founded in 1998, Primary Solutions provides its software products to over 330 private agencies and governmental entities.

March 27, 2012 – GlobalWise Announces Channel Sales Partnership With B2B Computer Products

B2B Computer Products, LLC (www.b2bcomp.com) is a national business-to-business value-added reseller and service provider of computer hardware and software with over 35 distribution centers throughout the US. They are a client-focused technology provider with proven experience in design, product recommendation and implementation of complex multi-vendor IT solutions. The partnership with Intellinetics will allow B2B Computer to add the cloud-based Intellivue™ ECM software to its vast array of service offerings and better serve its roster of over 24,000 clients. The company is consistently named as one of the fastest-growing private companies in the U.S. by Inc. magazine. B2B Computer grew 534.2% from 2005 to 2010.

April 3, 2012 – GlobalWise Announces Channel Sales Partnership With ImageSoft

ImageSoft (www.imagesoftinc.com) provides innovative content management solutions that enable organizations to operate more efficiently and effectively. Founded in 1996, ImageSoft provides high-end ECM software products to serve state and county governments, insurance, healthcare, court systems and educational institutions. ImageSoft has ECM clients within the United States, Canada and Mexico. Since 2000 ImageSoft, Inc. has been a Platinum partner of one of Gartner Magic Quadrant’s top ECM companies. The company has been named one of Inc. magazine’s fastest growing private companies for the last four years and was named one of the top 50 small and mid-sized organizations to work for in 2011.

April 10, 2012 – GlobalWise Joins the Center for Digital Education to Expand K-12 Educational Services

GlobalWise announced membership with the Center for Digital Education (www.centerdigitaled.com) to expand scope of service offerings with kindergarten through 12th (K-12) grade educational solutions. The Center for Digital Education (CDE) is a national research and advisory institute specializing in K-12 and higher education technology trends, policy and funding. Along with its research services, CDE issues white papers and conducts the annual Digital School Districts and Digital Community Colleges surveys and award programs as well as hosting events across the K-12 and higher education arena.

April 17, 2012 – GlobalWise Announces Channel Sales Partnership With FormFast, New Agreement Extends Company’s Product Scope Into Healthcare Organizations

Since 1992, FormFast (www.formfast.com) has been the recognized leader in e-forms software that has enabled healthcare organizations to achieve significant process improvement across the enterprise. With custom workflow solutions ranging from HR, contract management, risk management and compliance, FormFast is the top-ranked workflow provider for over 950 high performance hospitals in achieving their goal of being paperless. Among the 950 hospitals the company serves internationally are the Cleveland Clinic, the Mayo Health Organization, the Hospital Corporation of America and the University of Maryland Medical System. For a more complete client list: http://www.formfast.com/Client-List.

FormFast alone represents up to $51 million in potential sales for GWIV. While 100% market penetration into Form Fast’s client base is not expected, this will likely be one of GlobalWise’s key revenue drivers moving forward.

May 2, 2012 – GlobalWise Announces Channel Sales Partnership With the eVero Corporation, Partnership Expands GlobalWise Sales Opportunities Within the Health and Human Services Industries

The eVero Corporation (www.evero.com) has been an information technology (IT) solutions provider exclusively to the Health and Human Services marketplace for over a decade. Their clients include government agencies, health care institutions, medical billing companies and large health service organizations that focus on developmentally disabled patients. The eVero objective is to provide their clients with the ability to obtain the same level of technology solutions that Fortune 500 companies receive, but at a fraction of the cost. eVero’s products and services automate core functionality allowing among other functions:

• A single record to be accessed by all members of the treatment team;
• Track providers and patients at multiple locations and record information about each visit;
• Allow a stand-alone electronic eligibility verification system for Medicaid.

In addition to Intellinetics, eVero partners are global companies that support the execution of eVero’s Information Technology as a Service. They are considered “Best Of Breed” in their various industries.

GlobalWise anticipates signing many more of these agreements with domestic as well as international partners during the course of 2012 as it continues to position itself as a leader of the industry. The Company expects to deliver significant and consistent annual revenue growth each year for the foreseeable future as its experienced management team takes advantage of the significant opportunities that currently exist in the marketplace and continues to partner with the some of the largest and most successful companies in the industry.

About GlobalWise Investments, Inc.

GlobalWise Investments, Inc., via its wholly owned subsidiary Intellinetics, Inc., is a Columbus, Ohio based Enterprise Content Management (ECM) pioneer with industry-leading software that delivers cloud ECM based solutions on-demand. The Company’s flagship platform, Intellivue™, represents a new industry benchmark and game-changing solution by enabling clients to access and manage the content of every scanned document, file, spreadsheet, email, photo, audio file or video tape – virtually anything that can be digitized – in their enterprise from any PC, laptop, tablet or smartphone from anywhere in the world.

For additional information, please visit the Company’s corporate website: www.GlobalWiseInvestments.com

This press release may contain “forward-looking statements.” Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements may include, without limitation, statements about our market opportunity, strategies, competition, expected activities and expenditures as we pursue our business plan. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot predict the effect that market conditions, customer acceptance of products, regulatory issues, competitive factors, or other business circumstances and factors described in our filings with the Securities and Exchange Commission may have on our results. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.

GlobalWise Investments, Inc.
Columbus, Ohio
www.GlobalWiseInvestments.com
614-388-8909
Contact@GlobalWiseInvestments.com

Mission Investor Relations
Atlanta, Georgia
http://www.MissionIR.com
404-941-8975
Investors@MissionIR.com