Archive for June, 2012

Cogo (COGO) Announces Continued Progress on Proposed Asset Purchase

SHENZHEN, China, June 29, 2012 /PRNewswire/ — Cogo Group, Inc. (NASDAQ: COGO) (“Cogo” or the “Company”), one of the leading gateways for global semiconductor companies to access the industrial and technology markets in China, today announced that the proposal by its CEO and Chairman, Jeffrey Kang, to purchase approximately 30% of the Company’s total assets, liabilities and business operations continues to progress, although it is taking longer than originally anticipated.  The Audit Committee, consisting of the three independent Board Members of Cogo, is actively negotiating the agreements that they believe will be in the best interests of Cogo and the Company’s public shareholders. The Company is not providing an anticipated closing date for the deal at this time.

Jeffrey Kang, CEO and Chairman of Cogo said, “The Audit Committee continues to make progress towards my proposed purchase of approximately 30% of Cogo’s assets, liabilities and business operations. I continue to believe that this deal, which values Cogo at $6.00-$8.00 per share, is the most efficient way to unlock value for shareholders and will help to demonstrate the legitimacy of the company’s financial assets. At the end of the first quarter of 2012, Cogo’s tangible book value was $6.44 a share, which is nearly four times the Closing price of Cogo’s common stock on June 28, 2012.”

Mr. Kang continued, “While the macro conditions in China are still challenging and credit conditions for our Small and Medium Enterprise customers remain tight, we continue to execute well. I expect that our tangible book value will continue to rise over time and I remain committed to returning value to our shareholders.”

About Cogo Group, Inc.:

Cogo Group, Inc. (Nasdaq: COGO) is one of the leading gateways for global semiconductor companies to access the rapidly growing Industrial and Technology sectors in China. Through its unique business-to-business services platform, Cogo designs customized embedded solutions using technology from suppliers including Intel, Broadcom, Xilinx, SanDisk, Freescale, Atmel and others for a customer base of over 1,800 Chinese OEMs/ODMs. Cogo’s customer list includes approximately 100 blue-chip companies, including ZTE, BYD and NARI, as well as over 1,700 Small and Medium Enterprises (SMEs). The Company serves a broad list of rapidly growing end-markets in China, including 3G Smart phones, Tablets, Automotives, High-Speed Railway, Smart Meter/Smart Grid, Healthcare and High Definition Television (“HDTV”).

For further information:
Investor Relations
www.cogo.com.cn/investorinfo.html
communications@cogo.com.cn
H.K.:   +852 2730 1518
U.S.:    +1 (646) 291 8998
Fax:     +86 755 2674 3522

Safe Harbor Statement:

This press release includes certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include statements about our proposed discussions related to our business or our potential asset sale transaction, which are subject to change. Such information is based upon expectations of our management that were reasonable when made, but may prove to be incorrect. All such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. For further descriptions of other risks and uncertainties, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 20-F, and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC’s electronic data gathering analysis retrieval system (EDGAR) at www.sec.gov.

SOURCE Cogo Group, Inc.

Friday, June 29th, 2012 Uncategorized Comments Off on Cogo (COGO) Announces Continued Progress on Proposed Asset Purchase

Linn Energy (LINE) and Triangle Petroleum Shares Jump as Oil Prices Rebound

NEW YORK, NY — (Marketwire) — 06/29/12 — Oil stocks received a boost earlier this week as oil prices rose on positive U.S. manufacturing and housing data. Oil futures on Wednesday rallied back above $80 a barrel, the highest level in the past week. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) surged 4 percent on Wednesday. The Paragon Report examines investing opportunities in the Oil & Gas Industry and provides equity research on Linn Energy, LLC (NASDAQ: LINE) and Triangle Petroleum Corporation (NYSE: TPLM).

Access to the full company reports can be found at:

www.ParagonReport.com/LINE

www.ParagonReport.com/TPLM

Data from the Commerce Department showed that factories received more orders for durable goods in May than previously forecasted. The National Association of Realtors also reported that pending U.S. home sales in May were at their highest levels in over two years. “The durable goods number is giving the market the sense that things aren’t too bad, at least in the U.S.,” said Phil Flynn, senior market analyst at the Price Futures Group. “The economic data recently seems to be raising expectations for more oil demand.”

On another note, the Energy Department’s Energy Information Administration in their weekly report stated U.S. crude oil supplies fell by 100,000 barrels for the week ended June 22. According to Platts analysts had expected a decrease of 1 million barrels.

Paragon Report releases regular market updates on the Oil & Gas Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.

LINN Energy recently announced the acquisition of BP’s Jonah Field properties, located in the Green River Basin of southwest Wyoming, for $1.025 billion. Including the pending Jonah Field transaction, LINN has announced or closed almost $3 billion of acquisitions year to date. Shares of the company rose 3 percent Wednesday.

Triangle Petroleum is a growth-oriented oil and gas exploration and development company with approximately 82,000 net acres in the Williston Basin targeting the Bakken Shale and Three Forks formations. The company reported first quarter fiscal 2013 total production of 62,700 Boe. As of April 30, 2012 Triangle Petroleum had a cash balance of $34 million.

Paragon Report provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Paragon Report has not been compensated by any of the above-mentioned companies. We act as independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
www.ParagonReport.com/disclaimer

Friday, June 29th, 2012 Uncategorized Comments Off on Linn Energy (LINE) and Triangle Petroleum Shares Jump as Oil Prices Rebound

Dynasil (DYSL) Appoints Chairman Peter Sulick as Interim Chief Executive Officer and President

Dynasil Corporation of America (NASDAQ: DYSL) today announced that Steven K. Ruggieri will resign as Chief Executive Officer and President and as a member of the Board of Directors effective July 6, 2012. Dynasil Chairman Peter Sulick will serve as the Company’s Interim Chief Executive Officer and President until a replacement is named by the Board.

“During his tenure with the Company, Steve helped to further the commercialization strategy for our dual mode technology, advanced our product pipeline and strengthened our business development initiatives,” Sulick said. “On behalf of the Board, I want to wish Steve success as he pursues new endeavors and thank him for his contributions to Dynasil.”

“The Board will begin the search process, which is centered on identifying the right senior executive to maximize the value of our products and technology and enhance shareholder value,” Sulick said. “Our strategy continues to focus on leveraging our research organization and accelerating the commercialization of new products.”

Sulick, 61, has been a director of the Company since 2008 and has served as the non-executive Chairman of the Board since September 2009. He chaired the Audit Committee from July 2008 to February 2012, and has served on the Nominating and Governance Committee since 2010. In addition to his new role, Sulick will remain Chairman of the Board.

Sulick is President and CEO of AmeriSite, LLC, a family-owned real estate development and Investment Company he founded in 1998 and is the Executive Chairman and former CEO of Prism Microwave, Inc., which provides RF conditioning products for the mobile wireless infrastructure industry. From 1985 to 2002, Sulick founded and led broadcasting and telecommunications companies that were later acquired by Nextel, T-Mobile and others. Earlier in his career he worked for Cablevision Systems Corporation and the Communications Operations Group of ITT. He began his career in the audit department at Arthur Andersen & Co. in New York City. A certified public accountant, Sulick received his MBA in finance from the University of Massachusetts and a B.S. in Business Administration from The Citadel.

About Dynasil

Dynasil Corporation of America (NASDAQ: DYSL) develops and manufactures detection and analysis technology, precision instruments and optical components for the homeland security, medical and industrial markets. Combining world-class technology with expertise in research and materials science, Dynasil is commercializing products including dual-mode radiation detection solutions for Homeland Security and commercial applications, probes for medical imaging and sensors for non-destructive testing. Dynasil has an impressive and growing portfolio of issued and pending U.S. patents. The Company is based in Watertown, Massachusetts, with additional operations in Mass., Minn., NY, NJ and the United Kingdom. More information about the Company is available at www.dynasil.com.

Forward-looking Statements

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements regarding future events and our future results are based on current expectations, estimates, forecasts, and projections and the beliefs and assumptions of our management. These forward-looking statements may be identified by the use of words such as “may,” “could,” “expect,” “estimate,” “anticipate,” “continue” or similar terms, though not all forward-looking statements contain such words. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements due to a number of important factors. These factors that could cause actual results to differ from those anticipated or predicted include, without limitation, our ability to develop and commercialize our products, the size and growth of the potential markets for our products and our ability to serve those markets, the rate and degree of market acceptance of any of our products, general economic conditions, costs and availability of raw materials and management information systems, our ability to obtain and maintain intellectual property protection for our products, competition, the loss of key management personnel, litigation, the effect of governmental regulatory developments, the availability of financing sources, our ability to identify and execute on acquisition opportunities and integrate such acquisitions into our business, and seasonality, as well as the uncertainties set forth in the Company’s Annual Report on Form 10-K and from time to time in the Company’s other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Friday, June 29th, 2012 Uncategorized Comments Off on Dynasil (DYSL) Appoints Chairman Peter Sulick as Interim Chief Executive Officer and President

PowerSecure (POWR) Supports Utilities and Customers During Tropical Storm Debby

IDG Systems Protect Florida Facilities and Utility Crews Help Restore Power

PowerSecure International, Inc. (Nasdaq: POWR) today reported that it supported Florida utilities and customers during Tropical Storm Debby. PowerSecure’s Interactive Distributed Generation® (IDG®) power systems were in operation during the storm to deliver emergency power protecting over forty Florida customer facilities. The Company’s IDG monitoring team stood watch throughout the storm, ensuring backup power was available when needed, and protecting customer facilities from costly business interruptions and spoilage. PowerSecure also reported that it deployed Utility Services crews to assist with power restoration efforts. PowerSecure dispatched over fifty personnel to support utilities’ efforts to restore power as quickly as possible.

Sidney Hinton, CEO of PowerSecure, said, “Our IDG and Utility Services teams were in storm mode supporting utilities and their commercial and industrial customers before, during, and after Tropical Storm Debby. Our teams are experienced and tested in situations like these, and I am pleased to report that they executed flawlessly. We will closely monitor tropical conditions all season long and our teams will be well prepared to act on behalf of our customers and utility partners during storm events.”

About PowerSecure

PowerSecure International, Inc. is a leading provider of Utility and Energy Technologies to electric utilities, and their industrial, institutional, and commercial customers. PowerSecure provides products and services in the areas of Energy Efficiency, Interactive Distributed Generation, and Utility Infrastructure. The Company is a pioneer in developing Interactive Distributed Generation® power systems with sophisticated smart grid capabilities, including the ability to 1) forecast electricity demand and electronically deploy the systems to deliver more efficient, and environmentally friendly power at peak power times, 2) provide utilities with dedicated electric power generation capacity to utilize for demand response purposes, and 3) provide customers with the most dependable standby power in the industry. The Company’s Energy Efficiency business develops energy efficient lighting technologies that improve the quality of light, including its proprietary EfficientLights® LED lighting products for grocery, drug, and convenience stores, and its SecureLite and PowerLite street lights for utilities and municipalities. PowerSecure also provides electric utilities with transmission and distribution infrastructure maintenance and construction services, and engineering and regulatory consulting services. Additional information is available at www.powersecure.com.

All forward-looking statements contained in this release are made within the meaning of and pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are all statements other than statements of historical facts, including but not limited to statements concerning the amount and timing of the revenues associated with the new business discussed in this press release; the Company’s outlook, prospects and expectations for revenues, net income, and E.P.S. results and growth generally; the anticipated results of the Company’s products, services, and technologies; and all other statements concerning the plans, intentions, expectations, projections, hopes, beliefs, objectives, goals and strategies of management, including statements about other future financial and non-financial items, performance or events and about present and future products, services, technologies and businesses; and statements of assumptions underlying the foregoing. Forward-looking statements are not guarantees of future performance or events and are subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed, projected or implied by such forward-looking statements. Important risks, uncertainties and other factors include, but are not limited to, those risks, uncertainties and other factors identified from time to time in the Company’s most recent Annual Report on Form 10-K, as well as in subsequent filings with the Securities and Exchange Commission, including reports on Forms 10-Q and 8-K. Accordingly, there can be no assurance that the results expressed, projected or implied by any forward-looking statements will be achieved, and readers are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements in this press release speak only as of the date hereof and are based on the current plans, goals, objectives, strategies, intentions, expectations and assumptions of, and the information currently available to, management. The Company assumes no duty or obligation to update or revise any forward-looking statements for any reason, whether as the result of changes in expectations, new information, future events, conditions or circumstances or otherwise.

Friday, June 29th, 2012 Uncategorized Comments Off on PowerSecure (POWR) Supports Utilities and Customers During Tropical Storm Debby

CAMAC Energy (CAK) Announces Completion of OML 120/121 Acquisition

CAMAC Energy Inc. (NYSE Amex: CAK), today announced that Allied Energy PLC (“Allied”), an affiliate of the Company’s largest shareholder, has closed the previously announced transaction to acquire the 40% working interest in Nigerian OMLs 120 and 121 (the “OMLs”) from Nigerian Agip Exploration (“NAE”), a subsidiary of Eni SpA (“Eni”).

Allied has informed the Company that it plans to continue the development of the Oyo Field by drilling a new well in the fourth quarter of 2012. The new well, Oyo #7, is being designed not only to increase production from the 75 million barrels of reserves (1P, 2P and 3P) in the Pliocene reservoir, but also to test the prospective resource potential of the deeper Miocene reservoir in the field. With these dual objectives, the #7 well is expected to both significantly increase oil production from the currently producing reservoir and de-risk much of the unrisked resource potential in the rest of OMLs, independently estimated at over 2 billion barrels of oil.

Allied intends to engage CAMAC Energy to act as its technical service advisor, and the Company is currently engaged in advanced negotiations with drilling rig contractors and other critical service providers on behalf of Allied. The Company will continue to provide updates on these negotiations and other critical milestones as the well #7 spud date approaches.

“We are very pleased that Allied has officially closed its purchase of NAE’s interest in OML120 and 121, and we would like to thank NAE and Allied for their steadfast commitment and diligence in executing the transaction,” said Chairman and Chief Executive Officer, Dr. Kase Lawal. “Today is an important day for CAMAC Energy and its shareholders, as we finally remove the operational uncertainty on OML 120 and 121. With the completion of this transaction, the Company can focus on increasing the value of its Nigerian assets, as well as its frontier exploration acreage. We look forward to working with our partner Allied to execute our drilling program and to significantly increase oil production.”

About CAMAC Energy Inc.

CAMAC Energy Inc. (NYSE Amex: CAK) is a U.S.-based energy company engaged in the exploration, development and production of oil and gas. The Company currently has operations in Nigeria and, through its Pacific Asia Petroleum subsidiaries, in China. The Company’s principal assets include interests in OML 120 and OML 121, offshore oil and gas leases in deep water Nigeria which include the currently producing Oyo Oilfield, and a 100% interest in the Zijinshan Block gas asset located in the Shanxi Province, China. CAMAC Energy is currently pursuing additions to its exploration portfolio in East and West Africa and has recently acquired exploration acreage in Kenya and Gambia. The Company was founded in 2005 and has offices in Houston, Texas, Beijing, China, and Lagos, Nigeria.

Forward-Looking Statements

This press release may contain certain “forward-looking statements” relating to the business of CAMAC Energy Inc. and its subsidiaries. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the general ability of CAMAC Energy Inc. to achieve its commercial objectives; the business strategy, plans and objectives of CAMAC Energy Inc. and its subsidiaries; the timing and potential results of planned drilling operations; and any other statements of non-historical information. Words such as “anticipates,” “expects,” “plans,” “projects,” “believes,” “seeks,” “estimates,” and similar expressions are intended to identify such forward-looking statements. The statements are based upon management’s current expectations, estimates and projections, are not guarantees of future performance, and are subject to a variety of risks, uncertainties and other factors, some of which are beyond CAMAC Energy Inc.’s control and are difficult to predict, including those discussed in CAMAC Energy Inc.’s periodic reports that are filed with the SEC and available on its website (http://www.sec.gov). You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, CAMAC Energy Inc. undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Friday, June 29th, 2012 Uncategorized Comments Off on CAMAC Energy (CAK) Announces Completion of OML 120/121 Acquisition

Hampton Roads (HMPR) Closes on $50 Million Private Placement of Common Stock

NORFOLK, Va., June 27, 2012 (GLOBE NEWSWIRE) — Hampton Roads Bankshares, Inc. (Nasdaq:HMPR) (the “Company”), the holding company for The Bank of Hampton Roads (“BHR”) and Shore Bank, today announced that it has closed a $50 million private placement of common stock (the “Private Placement”). The Company issued an aggregate 71,428,572 common shares at a price of $0.70 per share to the following entities or their affiliates or managed funds: Anchorage Capital Group, L.L.C., CapGen Capital Group VI LP and The Carlyle Group (together, the “Investors”) pursuant to the terms of a standby purchase agreement between the Investors and the Company.

The Company plans to raise an additional approximately $30 million to $45 million in capital by issuing from 42,836,460 to 64,285,714 common shares in a public rights offering (the “Rights Offering”) that it expects to undertake during the third quarter of 2012. In the Rights Offering, the Company will grant each of its shareholders other than the Investors non-transferable rights to purchase up to, but no more than, a pro rata share of the maximum $95 million in capital to be raised in the Private Placement and the Rights Offering. The rights will be distributed to shareholders of record as of May 31, 2012 and may be exercised at $0.70 per share, the same price per share paid by the Investors in the Private Placement. The Rights Offering will commence upon the registration statement for the Rights Offering shares being declared effective by the Securities and Exchange Commission (the “SEC”).

The Investors have agreed not to participate in the Rights Offering and have agreed to serve as standby purchasers of all or a portion of the shares offered but not purchased in the Rights Offering (the “Standby Purchase”). The number of shares the Investors purchase as standby purchasers and the ultimate size of the combined capital raise will depend on the level of shareholder participation in the Rights Offering.

In addition, the Investors have terminated warrants they hold to purchase 1,836,302 shares of the Company’s common stock at a current exercise price, subject to adjustment, of $10.00 per share.

The Company expects to use the proceeds from the Private Placement and Rights Offering for general corporate purposes, which will include, but not be limited to, making capital contributions to its banking subsidiaries.

Additional Information

Purchases of Common Stock by the Investors in the Private Placement and Standby Purchase discussed in this press release involve the sale of securities in private transactions, and such shares have not been registered under the Securities Act of 1933.

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

Caution About Forward-Looking Statements

Certain statements made in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are statements that include projections, predictions, expectations, or beliefs about events or results or otherwise are not statements of historical facts, such as statements regarding the purpose, timing, consummation and consequences of the transactions described herein, including the Rights Offering and Standby Purchase. Although the Company believes that its expectations with respect to such forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results, performance or achievements of the Company will not differ materially from those expressed or implied by such forward-looking statements.  Factors that could cause actual events or results to differ significantly from those described in the forward-looking statements include, but are not limited to those described in the cautionary language included under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011, the Company’s Quarterly Report for the fiscal quarter ended March 31, 2012 and other filings made with the SEC.

About Hampton Roads Bankshares

Hampton Roads Bankshares, Inc. is a bank holding company that was formed in 2001 and is headquartered in Norfolk, Virginia. The Company’s primary subsidiaries are Bank of Hampton Roads, which opened for business in 1987, and Shore Bank, which opened in 1961 (the “Banks”). The Banks engage in general community and commercial banking business, targeting the needs of individuals and small to medium-sized businesses. Currently, Bank of Hampton Roads operates banking offices in Virginia and North Carolina doing business as Bank of Hampton Roads and Gateway Bank & Trust Co. Shore Bank serves the Eastern Shore of Maryland and Virginia through seven banking offices, ATMs and a recently opened loan production office in West Ocean City, Maryland. Through various affiliates, the Banks also offer mortgage banking services and investment products. Shares of the Company’s common stock are traded on the NASDAQ Global Select Market under the symbol “HMPR.” Additional information about the Company and its subsidiaries can be found at www.hamptonroadsbanksharesinc.com.

CONTACT: Stephen P. Theobald
         Executive Vice President and
         Chief Financial Officer
         (757) 217-1000
Wednesday, June 27th, 2012 Uncategorized Comments Off on Hampton Roads (HMPR) Closes on $50 Million Private Placement of Common Stock

Quaterra (QMM) Announces Increase in Silver Resource at Nieves, Mexico

VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 06/27/12 — Quaterra Resources Inc. (TSX VENTURE:QTA)(NYSE MKT:QMM)(NYSE Amex:QMM) and 50% joint-venture partner Blackberry Ventures 1, LLC, today announced that an updated independent resource estimate has substantially increased contained silver ounces at their Nieves property in northern Zacatecas, Mexico.

The NI 43-101-compliant resource was completed by Caracle Creek International Consulting Inc. of Toronto, Canada, and supersedes a previous resource estimate released in August 2010.

Nieves’ updated indicated resource of 33.04 million tonnes averaging 50.1 g/t silver (1.61 oz/ton) contains 53.22 million ounces of silver at a base case cutoff grade of 15 grams. The new resource represents a 328% increase in tonnes, a 194% increase in contained silver ounces and a 31.2% decrease in grade compared with the previous August 2010 estimate. The inferred resources at La Quinta and North total over 58.0 million tonnes averaging 30.4 g/t silver (0.98 oz/ton) containing an additional 56.7 million ounces of silver. This is a 20.4% increase in tonnes, a 15.3% decrease in contained silver ounces and a 29.5% decrease in grade.

          Concordia and San Gregorio vein systems, Nieves Property          

                  Estimated mineral resources, June 2012(1)
----------------------------------------------------------------------------
                                      Tonnes    Ag    Au          Ag      Au
Vein       Zone    Classification     (t)(2) (g/t) (g/t)     (oz)(3) (oz)(3)
----------------------------------------------------------------------------
           La
Concordia   Quinta Indicated      33,038,000  50.1  0.04  53,216,700  42,500
----------------------------------------------------------------------------
           La
Concordia   Quinta Inferred       39,258,000  32.0  0.02  40,390,300  25,200
----------------------------------------------------------------------------
San
 Gregorio  North   Inferred       18,769,000  27.0  0.08  16,292,800  48,300
----------------------------------------------------------------------------
1) Prepared by Jason Baker, P.Geo., Geological Engineer, Caracle Creek
   International Consulting Inc., an independent Qualified Person within the
   meaning of NI 43-101, using a reporting cut-off grade of 15 g/t Ag. Au is
   reported to 2 decimal places and Ag to 1 decimal place.
2) Tonnes rounded to the nearest 1,000.
3) 1 troy ounce = 31.103 grams.

The 15-gram cutoff used in the current study is substantially lower than the 45-gram cutoff used in the 2010 report and reflects the fact that much of the mineralization is shallow and may be amenable to open pit mining. The new resource will be used in the preparation of a Preliminary Economic Analysis (PEA) to be completed by M3 Engineering in the third quarter of this year.

At a 45-gram cutoff the indicated resource increased 181% to 12.9 million tonnes; the contained silver increased 134% to 35.7 million ounces; and the grade decreased 16.7% to 86.1 g/t. (A summary of indicated and inferred resources at various cutoff grades is shown in Table 1-1 at the end of this news release).

The Caracle Creek report concludes that the phase seven and eight drill programs increased the total length of the Concordia vein mineralized zone to 1,300 meters and also demonstrated the presence of up-dip near-surface mineralization. The report recommends additional specific gravity measurements at San Gregorio North (in progress); infill drilling at both La Quinta and San Gregorio North which can increase the amount of indicated resource and possibly increase the grade; additional drilling along the California vein; and drill testing of new geophysical targets.

Also, recent mapping and sampling at West Santa Rita, located over 500 meters from Quaterra’s nearest drill hole, is encouraging. Two groups of narrow, sub-parallel two to 30 centimeter wide calcite-quartz veinlets have been identified, some of which contain strong gold and silver mineralization (for details see below).

“We are very pleased that our earlier optimism has been vindicated and that the size of the resource at Nieves has grown substantially,” says Quaterra’s President and CEO, Tom Patton. “We believe a resource of this size has potential to support a large open pit operation. Also, the high gold geochemistry at West Santa Rita provides the possibility of additional upside moving forward.”

Resource Estimation Methodology

Drill hole collar coordinates and details were provided in MS Excel format by Quaterra including assays, lithology and down hole survey. The resource estimate was calculated using data from 13 drill holes from programs of previous operators between 1999 and 2000, as well as 183 drill holes drilled by Quaterra between 1999 and 2012. QA/QC was completed by Caracle Creek on the assays prior to incorporation in the 3D model.

All of these data were compiled into a database which links directly to the geological modelling and resource estimation software. 3D wireframes (solids) representing the mineralized areas were constructed and used to constrain (domain) the tonnage and grade estimation. GEMCOM’s GEMS software V.6.3 was used to generate the 3D block model and perform the grade estimation. Specific Gravity (SG) for the Concordia (La Quinta) area was determined using 173 SG samples within the mineralized domain. The block model was populated with SG values using these 173 SG samples via inverse distance interpolation. There were only 16 SG samples available for the San Gregorio North area, therefore, the average of those samples (2.83) was assigned to each block. Grades for Ag & Au were estimated using the anisotropic inverse distance method of interpolation. Missing assay intervals were interpolated through and not assigned zero grades. The following table shows the search ellipse parameters used in the grade estimation for both the Concordia and San Gregorio areas:

----------------------------------------------------------------------------
           Major     Semi-major          Minor
          Search         Search         Search      Principal
Pass      Radius         Radius         Radius        Azimuth            Dip
----------------------------------------------------------------------------
1           100m           100m            50m      0 degrees     60 degrees
2           200m           200m           100m      0 degrees     60 degrees
----------------------------------------------------------------------------

----------------------------------------------------------------------------
           Intermediate            Min #            Max #             Search
Pass            Azimuth          Samples          Samples               Type
----------------------------------------------------------------------------
1            75 degrees                5               30          Octant(1)
2            75 degrees                2               30     Ellipsoidal(2)
----------------------------------------------------------------------------
(1) An Octant type search divides the search ellipse into eight (8) octants.
    Four (4) of the eight (8) Octants must have contained data in order for
    the block to be populated with a maximum of 5 samples per octant.
(2) An Ellipsoidal search simply populates the block with all data contained
    within the search ellipse dimensions.

For the Concordia (La Quinta) area, blocks populated during pass 1 were classified as indicated and blocks populated during pass 2 were classified as inferred. For the San Gregorio North area, all blocks were classified as inferred due to the lack of SG data available for the area. The ellipsoids were orientated by principal azimuth, dip and intermediate azimuth (where positive rotation around the X-axis is from Y towards Z, around the Y-axis is Z towards X, and around the Z-axis is X towards Y).

Independent, NI 43-101-compliant resources at the Quaterra Nieves Property were estimated by Jason Baker, P.Eng., (APENS#9627), a Geological Engineer with CCIC and an independent qualified person as defined by NI 43-101. Zsuzsanna Magyarosi Ph.D., P.Geo. (APGO#2031), also of CCIC, is the independent qualified person responsible for the QA/QC evaluation. The mineral resources are reported in accordance with National Instrument 43-101 and have been estimated in compliance with generally accepted CIM “Estimation of Mineral Resource and Mineral Reserves Best Practices” guidelines. Block model quantities and grade estimates for the Nieves Property were classified according to the latest CIM Definition Standards for Mineral Resources and Mineral Reserves.

2012 Geophysics and Geochemistry

Geophysical surveys completed during the first quarter of 2012 included six lines (28.4 line-kilometers) of vector controlled source audio-magnetotellurics and induced polarization (CSAMT/CSIP), and nine follow-up lines of pole/dipole induced polarization (IP) totaling 16.5 line-kilometers. The six lines of vector CSAMT/CSIP were spaced 400 meters apart and covered 1,000 hectares west of the main veins in the area of an enigmatic magnetic low. Nine anomalous zones were detected and validated with IP lines using 50-meter dipole spacings. Most of the anomalies appear to be westward extensions of mineralized veins previously drilled, including the Dolores, Santa Rita, Nino and Orion veins.

The most interesting area identified to date is West Santa Rita, located 600 to 800 meters southwest of the main Santa Rita mine and over 500 meters from Quaterra’s nearest drill hole. Mapping and sampling have identified two groups of narrow, sub-parallel two to 30 centimeter wide calcite-quartz veinlets, some of which contain strong gold and silver mineralization. A total of 39 rock chip samples contain gold values ranging from less than 0.05 ppm to 8.11 ppm, with six of the samples above 2 ppm. Silver values range from less than 0.02 ppm to 253 ppm, with seven samples at or above 29 ppm. Lead and zinc range from 2 ppm and 7 ppm to 4,460 ppm and 2,690 ppm respectively.

Locally, high levels of pathfinder elements arsenic, mercury and antimony suggest that the veinlets may represent high-level leakage, an idea supported by the presence of geophysical anomalies (chargeability highs and resistivity lows) starting at a depth of 50 to 100 meters below surface. Additional lines of in-fill IP and subsequent drilling of the most prospective coincident geophysical and gold-silver anomalies will be completed later this summer.

Jason Baker, of Caracle Creek International Consulting Inc., is the Qualified Person responsible for the resource section of this release. Eugene Spiering is the Qualified Person responsible for the geophysics and geochemistry section of the release.

On behalf of the Board of Directors,

Thomas Patton, President and CEO, Quaterra Resources Inc.

Should you wish to receive news releases by fax please provide your contact details to Quaterra at 604-681-9059 (direct), 1-855-681-9059 (toll free) or email info@quaterra.com.

Disclosure note

The results of the Caracle Creek International Consulting Inc. of Toronto resource estimate have been reviewed by Quaterra technical staff. The Company believes that the Caracle Creek resource estimate for the Nieves Silver Project was conducted in a professional and competent manner. Inferred resources are resources that have not been defined in sufficient detail to be characterized as Measured or Indicated resources. Mineral resources have not had economic considerations applied to them and are therefore not characterized as Reserves.

The mining terms “indicated resource” and “inferred resource” are used in this news release in accordance with Canadian regulations but are not recognized by the United States Securities and Exchange Commission. For clarification, the Company has no properties that contain “reserves” as defined by the SEC and is providing the forgoing, in part, in order to meet its requirements under National Instrument 43-101 adopted by the BC Securities Commission and the Canadian Securities Administrators.

Some statements contained in this news release are forward-looking statements within the safe harbor of the Private Securities Litigation Reform Act of 1995. These statements generally are identified by words such as the Company “believes”, “expects”, and similar language, or convey estimates and statements that describe the Company’s future plans, objectives or goals. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Further information regarding risks and uncertainties which may cause results to differ materially from those projected in forward-looking statements, are included in filings by the Company with securities regulatory authorities. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Company does not undertake to update any forward-looking statement that may be made from time to time except in accordance with applicable securities laws. References may be made in this press release to historic mineral resource estimates. None of these are NI 43-101 compliant and a qualified person has not done sufficient work to classify these historic estimates as a current mineral resource. They should not be relied upon and Quaterra does not treat them as current mineral resources.

Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (or press release), such as “measured”, “indicated”, and “inferred” “resources”, which the SEC guidelines generally prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 40-F which can be requested from us, and is available on our website at www.quaterra.com and at www.sec.gov/edgar.shtml.

Expanded information on the Company’s projects is described on our website at www.quaterra.com.

Table 1-1: Nieves Updated Mineral Resource, June 2012

                       Estimated mineral resources(1)                       

          Concordia and San Gregorio vein systems, Nieves Property
----------------------------------------------------------------------------
Ag
Range                                 Classifi-       Tonnes      Ag      Au
(g/t)          Vein         Zone      cation          (t)(2)   (g/t)   (g/t)
----------------------------------------------------------------------------
greater than
 5.0           Concordia    La Quinta Indicated   49,530,000    36.7    0.03
----------------------------------------------------------------------------
               Concordia    La Quinta Inferred    67,235,000    22.6    0.02
----------------------------------------------------------------------------
               San Gregorio North     Inferred    56,827,000    14.8    0.06
----------------------------------------------------------------------------

----------------------------------------------------------------------------
greater than
 15.0          Concordia    La Quinta Indicated   33,038,000    50.1    0.04
----------------------------------------------------------------------------
               Concordia    La Quinta Inferred    39,258,000    32.0    0.02
----------------------------------------------------------------------------
               San Gregorio North     Inferred    18,769,000    27.0    0.08
----------------------------------------------------------------------------

----------------------------------------------------------------------------
greater than
 25.0          Concordia    La Quinta Indicated   23,420,000    62.6    0.05
----------------------------------------------------------------------------
               Concordia    La Quinta Inferred    22,053,000    41.5    0.02
----------------------------------------------------------------------------
               San Gregorio North     Inferred     7,349,000    39.8    0.11
----------------------------------------------------------------------------

----------------------------------------------------------------------------
greater than
 35.0          Concordia    La Quinta Indicated   17,188,000    74.6    0.05
----------------------------------------------------------------------------
               Concordia    La Quinta Inferred    12,469,000    50.7    0.02
----------------------------------------------------------------------------
               San Gregorio North     Inferred     3,711,000    50.1    0.13
----------------------------------------------------------------------------

----------------------------------------------------------------------------
greater than
 45.0          Concordia    La Quinta Indicated   12,906,000    86.1    0.06
----------------------------------------------------------------------------
               Concordia    La Quinta Inferred     7,104,000    58.8    0.03
----------------------------------------------------------------------------
               San Gregorio North     Inferred     2,070,000    58.6    0.15
----------------------------------------------------------------------------

----------------------------------------------------------------------------
greater than
 75.0          Concordia    La Quinta Indicated    6,233,000   116.5    0.07
----------------------------------------------------------------------------
               Concordia    La Quinta Inferred     1,053,000    92.5    0.05
----------------------------------------------------------------------------

----------------------------------------------------------------------------

----------------------------------------------------------------------------
Ag
Range                                 Classifi-             Ag            Au
(g/t)          Vein         Zone      cation           (oz)(3)       (oz)(3)
----------------------------------------------------------------------------
greater than
 5.0           Concordia    La Quinta Indicated     58,433,200        47,800
----------------------------------------------------------------------------
               Concordia    La Quinta Inferred      48,854,500        43,200
----------------------------------------------------------------------------
               San Gregorio North     Inferred      27,040,600       109,600
----------------------------------------------------------------------------

----------------------------------------------------------------------------
greater than
 15.0          Concordia    La Quinta Indicated     53,216,700        42,500
----------------------------------------------------------------------------
               Concordia    La Quinta Inferred      40,390,300        25,200
----------------------------------------------------------------------------
               San Gregorio North     Inferred      16,292,800        48,300
----------------------------------------------------------------------------

----------------------------------------------------------------------------
greater than
 25.0          Concordia    La Quinta Indicated     47,137,000        37,600
----------------------------------------------------------------------------
               Concordia    La Quinta Inferred      29,425,000        14,200
----------------------------------------------------------------------------
               San Gregorio North     Inferred       9,404,000        26,000
----------------------------------------------------------------------------

----------------------------------------------------------------------------
greater than
 35.0          Concordia    La Quinta Indicated     41,225,500        27,600
----------------------------------------------------------------------------
               Concordia    La Quinta Inferred      20,325,400         8,000
----------------------------------------------------------------------------
               San Gregorio North     Inferred       5,978,000        15,500
----------------------------------------------------------------------------

----------------------------------------------------------------------------
greater than
 45.0          Concordia    La Quinta Indicated     35,727,500        24,900
----------------------------------------------------------------------------
               Concordia    La Quinta Inferred      13,430,800         6,900
----------------------------------------------------------------------------
               San Gregorio North     Inferred       3,899,100        10,000
----------------------------------------------------------------------------

----------------------------------------------------------------------------
greater than
 75.0          Concordia    La Quinta Indicated     23,345,800        14,000
----------------------------------------------------------------------------
               Concordia    La Quinta Inferred       3,130,800         1,700
----------------------------------------------------------------------------

----------------------------------------------------------------------------
1) Prepared by Jason Baker, P.Geo., Caracle Creek International Consulting
   Inc., an independent Qualified Person within the meaning of NI 43-101,
   showing tonnes in various Ag ranges. Au is reported to 2 decimal places
   and Ag to 1 decimal place.
2) Tonnes rounded to the nearest 1,000.
3) 1 troy ounce = 31.103 grams. Ounces have been rounded to the nearest 100.

The TSX Venture Exchange and the American Stock Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

Contacts:
Quaterra Resources Inc.
Thomas Patton
President and CEO
604-641-2758

Quaterra Resources Inc.
Lauren Stope
Manager Communications
604-641-2746
info@quaterra.com

Wednesday, June 27th, 2012 Uncategorized Comments Off on Quaterra (QMM) Announces Increase in Silver Resource at Nieves, Mexico

Synergetics USA (SURG) Announces FDA Clearance of VersaVIT™ Vitrectomy System

O’FALLON, MO — (Marketwire) — 06/27/12 — Synergetics USA, Inc. (NASDAQ: SURG), a medical device company that designs, manufactures and markets innovative microsurgical devices for ophthalmic and neurosurgical applications, today announced it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for VersaVIT™, a novel vitrectomy system for the retinal surgery market.

“The entry of VersaVIT into the global vitrectomy market is a major milestone in Synergetics’ strategy to enter into higher growth areas of retinal surgery,” said David M. Hable, President and CEO. “We believe that VersaVIT is a ‘game changer’ given its functionality, portability and competitive pricing relative to traditional vitrectomy systems.” The Company is awaiting CE mark approval, which has been submitted and is currently under review.

About Synergetics USA, Inc.

Synergetics USA, Inc. (“Synergetics USA” or the “Company”) is a leading supplier of precision surgical devices. The Company’s primary focus is on the surgical disciplines of ophthalmology and neurosurgery. Our distribution channels include a combination of direct and independent sales organizations and important strategic alliances with market leaders. The Company’s product lines focus upon precision engineered, disposable and reusable devices, procedural kits, and the delivery of various energy modalities for the performance of less invasive surgery including: (i) laser energy, (ii) ultrasonic energy, (iii) radio frequency for electrosurgery and lesion generation and (iv) visible light energy for illumination, and where applicable, simultaneous infusion (irrigation) of fluids into the operative field. The Company’s website address is www.synergeticsusa.com.

Forward-Looking Statements

Some statements in this release may be “forward-looking statements” for the purposes of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by words such as “believe,” “expect,” “anticipate,” “plan,” “potential,” “continue” or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in Synergetics’ Annual Report on Form 10-K for the year ended July 31, 2011, as updated from time to time in our filings with the Securities and Exchange Commission.

SYNERGETICS USA, INC.
3845 Corporate Centre Drive
O’Fallon, Missouri 63368
(636) 939-5100
http://www.synergeticsusa.com
Attn: Pamela G. Boone
Chief Financial Officer

Wednesday, June 27th, 2012 Uncategorized Comments Off on Synergetics USA (SURG) Announces FDA Clearance of VersaVIT™ Vitrectomy System

Nanosphere (NSPH) Receives FDA Authorization to Market Its Gram-Positive Blood Culture Test

First of Its Kind Test to Launch Immediately

NORTHBROOK, Ill., June 27, 2012 (GLOBE NEWSWIRE) — Nanosphere, Inc. (Nasdaq:NSPH), a leader in the development and commercialization of advanced molecular diagnostics systems, announced today the U.S. Food and Drug Administration has granted a de novo petition permitting marketing of its Gram-Positive Blood Culture Nucleic Acid Test (BC-GP) on the automated sample-to-result Verigene® System.

The BC-GP test notably expands Nanosphere’s infectious disease test capabilities to include fast detection of bacteria that can cause deadly bloodstream infections, an increasingly recognized health threat.

With a single automated test, the Verigene BC-GP test provides fast genus and species level detection for a broad panel of clinically significant gram-positive bacteria. The BC-GP test also detects several crucial markers for antimicrobial resistance, including the mecA, vanA, and vanB genes, which confer resistance to the antibiotics methicillin/oxacillin and vancomycin. Rapid detection of these antimicrobial resistance markers provides vital information for clinicians to determine the best treatment for bloodstream infections.

“With the BC-GP test, patients suspected of deadly infections can now get a first-ever diagnostic tool for detecting disease-causing bacteria while simultaneously determining antibiotic resistance within the critical timeframe for making and adjusting initial treatment,” said William Moffitt, Nanosphere’s Chief Executive Officer.

The BC-GP test provides identification of bacteria and antimicrobial resistance genes from gram-positive blood culture bottles within two and a half hours, as compared with current microbiological methods, which can take up to two to three days.

Rapid and accurate identification of bacteria and resistance markers is critical in guiding appropriate antibiotic treatment. Studies show delayed administration of appropriate antibiotics is associated with a 7.6% decrease in survival rate for each hour therapy is delayed.1 Rapid molecular testing of blood cultures reduces this time, with associated hospital cost savings of up to $21,000 per patient.2

The sample-to-result BC-GP test automates the steps of bacterial DNA extraction and target detection on the Verigene System.

The ease-of-use and fast turnaround time of the BC-GP test allow hospitals of any size to benefit from the speed and accuracy of automated molecular testing. In addition to its gram-positive blood culture test, Nanosphere is currently developing a test for gram-negative blood cultures that will provide genus, species, and resistance detection on the same automated platform. These tests are part of a comprehensive infectious disease test menu, including the multiplexed Verigene RV+ respiratory virus test cleared by the FDA in 2011, as well as tests for C. difficile and a panel of enteric bacterial and viral pathogens that Nanosphere plans to submit for FDA clearance in 2012.

About Bloodstream Infections

Septicemia is associated with more than 1.6 million hospitalizations per year in the United States and is the most expensive cause of hospitalization totaling $15.4 billion in aggregate hospital costs.3 Septicemia occurs when a pathogenic microorganism, usually a bacterium or a fungus, enters the bloodstream and causes an inflammatory immune response. Because bloodstream infections and septicemia are pervasive problems associated with high mortality rates, timely delivery of appropriate treatment is essential.

Bloodstream infections with gram-positive bacteria are often complicated by antimicrobial resistance. The inability to rapidly identify resistant strains of pathogenic bacteria has led to antimicrobial use that is often ineffectual, wasteful, or bears risk of proliferating resistant strains. Rapid identification of both organism and resistance is essential to implementing efficient and appropriate therapy.4

Gram-positive bacteria are also a common source of contamination during blood draws. Contaminant species are frequently responsible for false-positive blood cultures that lead to inappropriate antimicrobial use.5 Patients with contaminated blood culture bottles are often presumptively treated for bloodstream infections for several days until the organism can be identified as a contaminant using conventional biochemical methods. Patients with false-positive blood culture results triggered by contaminants have hospitalization costs more than $8,000 higher than patients with true negative blood culture results.6 Due to the large burden of infections and contaminants due to gram-positive bacteria, rapid identification of bacteria isolated from blood cultures is a primary healthcare concern.

About Nanosphere, Inc.

Nanosphere develops, manufactures and markets an advanced molecular diagnostics platform, the Verigene System, for multiplexed infectious disease, genetic, and ultra-sensitive protein testing. This easy-to-use platform offers laboratories a convenient, simple, and cost-effective solution for highly sensitive nucleic acid and protein testing. Nanosphere is based in Northbrook, IL.

For additional information regarding Nanosphere’s infectious disease products, please contact Nanosphere at IDtesting@nanosphere.us or visit www.nanosphere.us.

The Nanosphere, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4344

References

  1. Kumar A, Roberts D, Wood KE. Duration of hypotension before initiation of effective antimicrobial therapy is the critical determinant of survival in human septic shock. Crit Care Med. 2006;34(6):1589-1596.
  2. Bauer KA, West JE, Balada-Llasat J, Pancholi P, Stevenson KB, Goff DA. An antimicrobial stewardship program’s impact with rapid polymerase chain reaction methicillin-resistant Staphylococcus aureus/S. aureus blood culture test in patients with S. aureus bacteremia. Clin Infect Dis. 2010;51(9):1074-80.
  3. Elixhauser A, Friedman B, Stranges E. 2011. Septicemia in US Hospitals, 2009. HCUP Statistical Brief #122. Agency for Healthcare Research and Quality.
  4. Sahm DF, Free L, Smith C, Eveland M, Mundy LM. Rapid Characterization Schemes for Surveillance Isolates of Vancomycin-Resistant Enterococci. J Clin Microbiol. 1997;8:2026-2030.
  5. von Eiff C, Herrmann M, Peters G. Antimicrobial susceptibilities of Stomatococcus mucilaginosus and of Micrococcus spp. Antimicrob Ag Chemo. 1995;39:268-270.
  6. Zwang O, Albert, RK. Analysis of Strategies to Improve Cost Effectiveness of Blood Cultures. Journal of Hospital Medicine, 1:272-276.
CONTACT: Nanosphere, Inc.
         Roger Moody
         (847) 400-9021
         IDtesting@nanosphere.us

         Media and investors:
         The Torrenzano Group
         Denise Roche
         212-681-1700
         droche@torrenzano.com
Wednesday, June 27th, 2012 Uncategorized Comments Off on Nanosphere (NSPH) Receives FDA Authorization to Market Its Gram-Positive Blood Culture Test

Entropic Communications (ENTR) Sees Upside to Revenue and EPS in Q2

Strength in Connectivity Products and Improvements to Set-Top Box System-on-a-Chip (SoC) Supply Chain Constraints Drive Better Than Expected Revenue Growth

SAN DIEGO, June 27, 2012 (GLOBE NEWSWIRE) — Entropic Communications, Inc. (Nasdaq:ENTR), a world leader in semiconductor solutions for the connected home, announced today expected revenue in the second quarter of 2012 will be stronger than the Company’s previous outlook, which was provided on April 24, 2012.

Entropic now expects second quarter revenue to range between $81 million and $82 million. The Company’s previous guidance for the second quarter was for revenue to range between $75 million and $77 million.

“We are seeing better than expected results for our Connectivity products with strong HD attach rates and upgrades at Tier-1 Pay-TV service providers driving increased demand for our home networking and direct broadcast satellite solutions,” said Patrick Henry, president and chief executive officer, Entropic Communications.  “Also, through impressive execution by our operations team and supply chain partners, we were able to resolve some key supply chain constraints related to our set-top box SoC business ahead of schedule; leading to higher revenue for the set-top box SoC products versus our initial expectations entering the quarter.”

The Company expects GAAP earnings per share for the second quarter of approximately $0.00 and non-GAAP earnings per share of approximately $0.08. The Company’s previous guidance was for non-GAAP earnings per share of $0.03.

Entropic expects to release financial results for the second quarter 2012, and host a conference call for analysts and investors on August 1, 2012.  At that time, the Company will review its quarterly results and provide an outlook for the third quarter of 2012.  Details on the conference call will be announced, prior to that date.

About Entropic Communications

Entropic Communications, Inc. (Nasdaq:ENTR) is a leading global provider of silicon and software solutions to enable connected home entertainment. The Company transforms how traditional HDTV broadcast and streaming video content is seamlessly, reliably, and securely delivered, processed, and distributed into and throughout the home. Entropic’s next-generation home connectivity and set-top box system-on-a-chip (SoC) solutions enable Pay-TV service providers to offer consumers a more captivating whole-home entertainment experience by delivering new, high-performing ways to connect, engage, and enjoy multimedia content. For more information, visit Entropic at: www.entropic.com.

The Entropic Communications logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4255

Forward-Looking Statements

Statements in this press release that are not strictly historical in nature constitute “forward-looking statements.”  Such statements include, but are not limited to, statements regarding our expected revenue, and second quarter net income per share, as well as statements regarding HD attach rates and increased demand for the company’s solutions.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Entropic’s actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements.  These factors include, but are not limited to, our dependence on a limited number of supply chain partners for the manufacture of our products and other factors that could affect our ability to meet customer demand; our dependence on a limited number of customers for a substantial portion of our revenues; risks associated with adverse U.S. and international economic conditions; the ability of our customers or the service providers who purchase their products to successfully compete and continue to grow in their markets; the continued development of the market for HD video and other multi-media content delivery and networking solutions; risks associated with competing against larger and more established companies and our ability to compete successfully in the connected home entertainment market; risks associated with timely development and introduction of new or enhanced products; risks related to international operations; and other factors discussed in the “Risk Factors” section of Entropic’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2012.  All forward-looking statements are qualified in their entirety by this cautionary statement. Entropic is providing this information as of the date of this release and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.

Copyright © 2012 Entropic Communications, Inc. All rights reserved. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.

CONTACT: Investor Contact:
         Debra Hart
         +1 858.768.3852
         debra.hart@entropic.com

         Media/Industry Analyst Contact:
         Chris Fallon
         +1 858.768.3827
         chris.fallon@entropic.com
Wednesday, June 27th, 2012 Uncategorized Comments Off on Entropic Communications (ENTR) Sees Upside to Revenue and EPS in Q2

GlobalWise (GWIV) Reports on International Expansion Initiatives

COLUMBUS, OH — (Marketwire) — 06/27/12 — 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 comments on the Company’s progress to date and near term intentions to expand into international markets.

Since 1994, Intellinetics has focused primarily on domestic United States markets, selling ECM software services through a traditional, direct sales force. This strategy served Intellinetics well in the previous 18 years, but the original father-son management team of Matthew and Michael Chretien saw the opportunity to expand the business by hiring Lexmark International executive William J. “BJ” Santiago. Mr. Santiago was brought on to lead the new cloud-based ECM software enterprise and expand the Company’s distribution through a one-to-many strategy utilizing Channel Partners who already have a tested and proven model to sell hardware or software related services.

In 2012 alone, eight new Channel Partners have been brought on to continue software sales expansion in the United States, as well as pursue new opportunities internationally. This Channel Partner strategy has shown it is possible to distribute ECM software services in every industry. By utilizing distribution partners who already have an extensive sales force and customer base, GlobalWise is able to focus on being a software company while the Partners emphasize client sales and on-going support.

Recently, the Company announced an agreement with SOIN Integrales (www.soin.co.cr), headquartered in Costa Rica, who dominates the Latin America market selling high-end ERP solutions from companies like Oracle, SAP and Sybase. Historically, SOIN did not have an ECM (Enterprise Content Management) practice within their software product offerings. However, similar to the US, Latin America is rapidly adopting digital management of document and records for compliance and privacy regulation and historically did not have a cost effective ECM solution.

Today, through the Intellinetics On-demand Solution Store™ templates, SOIN can capitalize on this untapped small to medium sized client base through an exclusive agreement with Intellinetics. Over the past several months, the companies have worked closely together to translate the Intellivue™ software and related product collateral into Spanish and are currently marketing the software services. The initial Intellivue™ solution and product launch has begun in Mexico, Costa Rica, Panama, El Salvador and Nicaragua.

As well, the Intellinetics agreement with MWAi will begin the Company’s first foray into English speaking countries in Europe, with expansion expected to begin in the third quarter of 2012. Since Intellinetics has invested heavily in their template based best practice ECM solutions for a variety of industries, the current software will need very little upgrading aside from potential cultural differences. Even more exciting for Intellinetics and MWAi is the on-going efforts 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 later this year.

“GlobalWise is positioning itself for record-breaking growth for the balance of 2012 and 2013,” stated William. J. “BJ” Santiago, CEO of GlobalWise. “We have and will continue to recruit many strategic Partners to help us access more industries and markets. I expect we will have additional announcements in the near future regarding further domestic and international growth.”

“The great news with a cloud-based service delivery model, now available in both English and Spanish and soon for the Asian market, is the multitudes of ways to get our software into the hands of clients,” continued Mr. Santiago. “Whether it’s integrating the ECM capabilities into an existing CRM or ERP system, implementation with multi-function printers or sold as a stand-alone solution, our software is dynamic enough to sit alongside almost any other architecture. The cloud delivery model provides a lower cost delivery approach without major capital expenditures that is perfect in the emerging ECM markets that previously did not have a cost effective solution.”

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

Wednesday, June 27th, 2012 Uncategorized Comments Off on GlobalWise (GWIV) Reports on International Expansion Initiatives

BioMimetic (BMTI) and Chelsea Therapeutics Recent Performers in a Thriving Industry

NEW YORK, NY — (Marketwire) — 06/25/12 — Despite the recent economic turmoil in Europe, the Biotech Industry has been home to some of the strongest performers in the market in 2012. The SPDR S&P Biotech ETF (XBI) and the First Trust NYSE Arca Biotech Index ETF (FBT) year-to-date are up 30 percent and 31 percent, respectively. As the world continues to face evolving health challenges the discoveries of new therapeutics and vaccines are critical. Five Star Equities examines the outlook for companies in the Biotech Industry and provides equity research on BioMimetic Therapeutics, Inc. (NASDAQ: BMTI) and Chelsea Therapeutics International Ltd. (NASDAQ: CHTP).

Access to the full company reports can be found at:

www.FiveStarEquities.com/BMTI

www.FiveStarEquities.com/CHTP

Expiring patents have been a major dilemma for pharmaceutical companies. New products that are being introduced are not expected to generate the same level of revenues of the products that have lost patent protection. The Obama administration is currently analyzing a proposal in which the exclusivity period for biologics would be cut down by 5 years. Mergers & Acquisitions activity is expected to pick up in 2012 as companies scramble to look to make up for loss revenues. M&A allow companies to acquire products that are already proven in the market place without the hassle and costs associated with research and development.

“Many of the pharmaceutical companies started producing everything in-house out of their own R&D organizations and over time they’ve failed to produce enough that way. So the industry is now coalescing around a 50-50 model of half on your own and half bought in. There are some things we’ll do for ourselves but we need to be constantly on the lookout for new technologies,” said Angus Russell, Chief Executive of Shire PLC.

Five Star Equities releases regular market updates on companies in the Biotech Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.

BioMimetic Therapeutics is a biotechnology company specializing in the development and commercialization of clinically proven products to promote the healing of musculoskeletal injuries and diseases, including therapies for orthopedics, sports medicine and spine applications.

Chelsea Therapeutics specializes in the acquisition and development of innovative products and technologies that address important unmet medical needs or offer alternatives to current methods of treatment. The company recently reported positive data from two phase 3 trials showed that patients treated with Northera (droxidopa) experienced improvements in their symptoms of Neurogenic Orthostatic Hypotension.

Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:

www.FiveStarEquities.com/disclaimer

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Monday, June 25th, 2012 Uncategorized Comments Off on BioMimetic (BMTI) and Chelsea Therapeutics Recent Performers in a Thriving Industry

Basis Design and Socket Mobile (SCKT) Provide iOS Barcode Scanning for Symantec’s Altiris

NEWARK, CA — (Marketwire) — 06/25/12 — Socket Mobile, Inc. (NASDAQ: SCKT), an innovative provider of mobile productivity solutions, today announced that Basis Design — a leading developer of enterprise level software solutions — has certified the Socket Bluetooth® Cordless Hand Scanner™ (CHS) as the barcode scanner of choice for its Barcode Essentials application for the iPad, iPhone and iPod touch.

Barcode Essentials is used in conjunction with the Altiris Barcode Solution from Symantec, to provide mobile barcoding support to Symantec’s Altiris IT Management Suite and Altiris Asset Management Suite. IT organizations in healthcare, finance, government and other industries use the suites to track costly assets throughout their lifecycle and ensure that current infrastructures can support new technology changes and adapt to changing processes and business needs.

“Many Altiris Barcode customers today use stationary consoles to scan asset tags on IT equipment,” said Andrew Peterson, managing director at Basis Design. “With our new Barcode Essentials iOS app and Socket’s highly mobile barcode scanners, Altiris customers now have a far superior option for scanning asset tags wherever equipment is deployed, using affordable Apple devices already popular among IT professionals.”

“Applications like Barcode Essentials demonstrate the business demand for high-performance yet affordable barcode reading solutions for Apple devices,” said Mike Gifford, executive vice president at Socket Mobile. “With the recent release of our CHS 7Ci low-cost, Apple certified 1D barcode scanner, we expect more enterprise developers like Basis Design to use our SocketScan 10 Software Development Kit (SDK) to add barcode scanning support to their apps.”

Besides the CHS 7Ci, Barcode Essentials also offers native iOS support to the Socket CHS 7Xi and 7XiRx Apple certified 2D barcode scanners. To learn more, visit the Socket Mobile website or contact sales@socketmobile.com.

Barcode Essentials is available in Free and Standard editions for download in the Apple App Store. Customers must have an existing Altiris Barcode Solution license from Symantec in order to sync Barcode Essentials with their server.

About Basis Design
Since 1999, Basis Design has been developing enterprise level software solutions and mobile applications that help clients automate business processes, control costs, gain stronger market share and drive revenue. Basis is headquartered in Turramurra, New South Wales, Australia, and can be reached at 61 2 9440 9516 or www.basis.com.au.

About Socket Mobile
With 20 years of experience in the Automatic Identification and Data Capture (AIDC) market, Socket makes mobile computing and productivity work. The company offers a family of handheld computers and an extensive portfolio of AIDC peripherals specifically designed to increase productivity and drive operational efficiencies in healthcare, hospitality and other business mobility deployments. The company also offers OEM solutions for the mobile device market. Socket is headquartered in Newark, Calif. and can be reached at 510-933-3000 or www.socketmobile.com. Follow Socket Mobile on Twitter @socketmobile and subscribe to sockettalk.socketmobile.com, the company’s official blog.

Socket Bluetooth® Cordless Hand Scanner is a trademark of Socket Mobile. All other trademarks and trade names contained herein may be those of their respective owners.

© 2012, Socket Mobile, Inc. All rights reserved.

Monday, June 25th, 2012 Uncategorized Comments Off on Basis Design and Socket Mobile (SCKT) Provide iOS Barcode Scanning for Symantec’s Altiris

Dex One (DEXO) Announces Alan F. Schultz Elected Chairman

Dex One Corporation (NYSE: DEXO) announced today that current director Alan F. Schultz has been elected Chairman of the Board of Directors. He succeeds Eugene I. Davis who has resigned from the Dex One Board.

About Dex One Corporation

Dex One Corporation (NYSE: DEXO) is a leading marketing solutions provider helping local businesses and their customers connect wherever and whenever they choose to search. Building on its heritage of delivering print-based solutions, the company provides integrated products and services to help its clients establish their digital presence and generate leads. Dex One’s locally based marketing experts offer a broad network of local marketing solutions including online, mobile and print search solutions, such as DexKnows.com. For more information, visit www.DexOne.com.

Monday, June 25th, 2012 Uncategorized Comments Off on Dex One (DEXO) Announces Alan F. Schultz Elected Chairman

Reliv International (RELV) Named One of St. Louis’s Top Workplaces

Program honors companies with high level of organizational health

CHESTERFIELD, Mo., June 25, 2012 /PRNewswire/ — Reliv International, Inc. (NASDAQ:RELV), today announced that the St. Louis Post-Dispatch has named Reliv one of St. Louis’s Top Workplaces. The Top Workplaces program recognizes companies whose working environment allows them to outperform peers.

Top Workplaces was created by Workplace Dynamics in 2006. The program is based on one simple philosophy: The most successful companies are the ones that employees believe in. Such companies are considered “organizationally healthy.”

Organizational health stems from three primary factors:

  • Direction: Employees have emotionally bought into what the organization is striving to achieve.
  • Execution: The company has a high performance culture.
  • Connection: Employees feel they are appreciated and doing something meaningful.

Top Workplaces evaluates companies on these three factors based on a 25-question employee survey. Survey results placed Reliv among the top companies in the St. Louis area.

“The fact that we didn’t even nominate ourselves, that employees nominated Reliv on their own accord, speaks volumes as to just how much our staff believes in what we do,” said R. Scott Montgomery, Reliv executive vice president and chief operating officer. “Reliv’s mission is to Nourish Our World. We want to help people lead healthier, happier lives, and that’s a goal everyone can rally around.”

About Reliv International, Inc.
Reliv International, Inc., based in Chesterfield, Mo., produces nutritional supplements that promote optimal nutrition along with premium skincare products. Reliv supplements address essential nutrition, weight loss, athletic performance, digestive health, women’s health, anti-aging and healthy energy. The company sells its products through an international network marketing system of independent distributors in 15 countries. Learn more about Reliv at www.reliv.com, or on Facebook, Twitter or YouTube.

SOURCE Reliv International, Inc.

Monday, June 25th, 2012 Uncategorized Comments Off on Reliv International (RELV) Named One of St. Louis’s Top Workplaces

Advanced Photonix (API) to Webcast Q4 and Fiscal 2012 Earnings Conference Call

Advanced Photonix, Inc.® (NYSE Amex: API) will announce its FY2012 fourth quarter and fiscal 2012 year end (ending March 31, 2012) financial results on Friday, June 29, 2012. The company will host a conference call at 4:30pm EDT.

Participating in the call will be Richard Kurtz (Chairman and CEO), Rob Risser (COO), and Jeff Anderson (CFO). A question and answer period will take place at the end of the discussion. A press release announcing the financial results will be released after the close of the market on the same day.

The conference call will be webcast live and will be accessible at http://investor.advancedphotonix.com. Participants can dial into the conference call at 888.679.8034 (617.213.4847 for international) using the passcode 82301572.

Pre-registrants can obtain a pin number to use when dialing into the live call that will enable quick connection, bypassing the operator. Participants may pre-register at: https://www.theconferencingservice.com/prereg/key.process?key=PAYCGVXNU

An audio replay of the call will be available shortly thereafter on the same day and will remain on-line until July 6, 2012. The replay number is 888.286.8010 (617.801.6888 for international) and the passcode is 83012657.

About Advanced Photonix, Inc.

Advanced Photonix, Inc. ® (NYSE Amex: API) is a leading supplier with a broad offering of optoelectronic products to a global customer base. We provide optoelectronic solutions, high-speed optical receivers and terahertz instrumentation for telecom, homeland security, military, medical and industrial markets. With our patented technology and state-of-the-art manufacturing we offer industry leading performance, exceptional quality, and high value added products to our OEM customer base. For more information visit us on the web at www.advancedphotonix.com.

The information contained herein includes forward looking statements that are based on assumptions that management believes to be reasonable but are subject to inherent uncertainties and risks including, but not limited to, unforeseen technological obstacles which may prevent or slow the development and/or manufacture of new products; potential problems with the integration of the acquired company and its technology and possible inability to achieve expected synergies; obstacles to successfully combining product offerings and lack of customer acceptance of such offerings; limited (or slower than anticipated) customer acceptance of new products which have been and are being developed by the Company; and a decline in the general demand for optoelectronic products. API-G

Monday, June 25th, 2012 Uncategorized Comments Off on Advanced Photonix (API) to Webcast Q4 and Fiscal 2012 Earnings Conference Call

Overland Storage (OVRL) Patents Valid, ITC Affirms

SAN DIEGO, CA — (Marketwire) — 06/25/12 — Overland Storage (NASDAQ: OVRL) today announced that Administrative Law Judge Charles Bullock of the U.S. International Trade Commission (“ITC”) has issued a 125-page, full version of the Initial Determination that explains his reasoning in detail. The full Initial Determination is confidential and only the attorneys in the ITC action are able to review it. However, on June 22, 2012, attorneys for Overland Storage filed an emergency motion with the ALJ to obtain permission to share more information about the full Initial Determination with Overland Storage and the public.

“It has been reported that Judge Bullock’s Initial Determination found no infringement of both of Overland’s asserted patents,” said Sean Cunningham, DLA Piper partner and lead counsel for Overland Storage. “Although we cannot yet disclose any of the details of the full Initial Determination, I can tell you that those reports are inaccurate.”

On June 21, 2012, Overland Storage announced that the ALJ had issued a public notice of an Initial Determination affirming that both of Overland’s asserted patents are valid, but found that BDT had not committed a violation of Section 337 of the Tariff Act of 1930, the statute that governs ITC actions. Section 337 is the statue under which ITC actions are brought for importing or selling of infringing products into the United States. There are additional legal requirements to find a Section 337 violation that are not requirements in finding infringement of a valid patent in a federal district court lawsuit.

“We understand that the full Initial Determination of the ITC contains positive news for our ongoing litigation,” said Eric Kelly, President and CEO of Overland Storage. “I can assure you that Overland plans to continue its lawsuit against BDT both in the ITC and in federal district court.”

Under ITC procedure, the Initial Determination is not a final resolution of an ITC action. After an Initial Determination is issued, the full Commission decides whether to review and modify the ALJ’s Initial Determination. If the Commission decides to review the Initial Determination on the merits, the Commission will issue its decision in a Final Determination. The Commission’s Final Determination is expected by October 22, 2012. Upon completion of the ITC case, Overland Storage plans to pursue monetary damages against BDT in district court.

Overland Storage has scheduled an investor conference call for Thursday, June 28, 2012 at 2 p.m. PDT (5 p.m. ET) to discuss the ongoing litigation and to share any additional details about the ITC action that can be shared at that time. To access the call, dial (877) 941-4774 (+1 (480) 629-9760 outside the United States) and when prompted, provide the pass code “Overland Storage” to the operator. Participants are asked to call the assigned number approximately 10 minutes before the conference call begins. In addition, a live and archived webcast of the conference call will be available over the Internet at www.overlandstorage.com in the Investor Relations section. A replay of the conference call will also be available via telephone by dialing (800) 406-7325 (+1 (303) 590-3030 outside the United States) and entering access code, 4548620#, beginning 8:00 p.m. ET on June 28, 2012 through 11:59 p.m. ET on July 5, 2012.

About Overland Storage

Overland Storage is the trusted global provider of effortless data management and data protection solutions across the data lifecycle. By providing an integrated range of technologies and services for primary, nearline, offline, archival and cloud data storage, Overland makes it easy and cost effective to manage different tiers of information over time. Overland SnapServer®, SnapSAN™, NEO® and REO® solutions are available through a select network of value added resellers and system integrators. For more information, visit http://www.overlandstorage.com/.

Safe Harbor Statement

Except for the factual statements made herein, the information contained in this news release consists of forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as “believes,” “hopes,” “intends,” “estimates,” “expects,” “projects,” “plans,” “anticipates” and variations thereof, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Such forward-looking statements are not guarantees of performance and our actual results could differ materially from those contained in such statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain and increase sales volumes of our products; our ability to continue to aggressively control costs and operating expenses; our ability to achieve the intended cost savings and maintain quality with our new manufacturing partner; our ability to generate cash from operations; the ability of our suppliers to provide an adequate supply of components for our products at prices consistent with historical prices; our ability to raise outside capital and to repay our debt as it comes due; our ability to introduce new competitive products and the degree of market acceptance of such new products; the timing and market acceptance of new products introduced by our competitors; our ability to maintain strong relationships with branded channel partners; our ability to maintain the listing of our common stock on the NASDAQ Capital Market; customers’, suppliers’ and creditors’ perceptions of our continued viability; rescheduling or cancellation of customer orders; loss of a major customer; general competition and price measures in the market place; unexpected shortages of critical components; worldwide information technology spending levels; and general economic conditions. Reference is also made to other factors detailed from time to time in our periodic reports filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.

Connect with Overland Storage:
Read the Overland blog: http://www.overlandstorage.com/blog
Follow Overland on Twitter: http://www.twitter.com/OverlandStorage
Visit Overland on Facebook: http://www.facebook.com/OverlandStorage

Overland Storage, SnapSAN, SnapServer, NEO Series, REO Series and the Overland logo are trademarks Overland Storage, Inc., that may be registered in some jurisdictions. All other trademarks used are owned by their respective owners.

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Investor Relations Contact:
Charles Messman or Todd Kehrli
MKR Group Inc.
323-468-2300

Monday, June 25th, 2012 Uncategorized Comments Off on Overland Storage (OVRL) Patents Valid, ITC Affirms

NuPathe (PATH) to Present Migraine Patch Data at American Headache Society Meeting

CONSHOHOCKEN, PA — (Marketwire) — 06/21/12 — NuPathe Inc. (NASDAQ: PATH), a biopharmaceutical company focused on the development and commercialization of branded therapeutics for diseases of the central nervous system, today announced that the Company will present data on its migraine patch at the upcoming 54th Annual Scientific Meeting of the American Headache Society (AHS), which takes place June 21-24, 2012 in Los Angeles, CA.

The AHS presentations are:

  • “Long Term Safety of the Sumatriptan Iontophoretic Transdermal Patch, NP101, For Acute Migraine: A 12 Month, Repeat Use, Open Label Study”: These final study results involving 7,665 patch applications show that NP101 was well-tolerated with an adverse event profile similar to previous NP101 studies.
  • “A Phase I, Single Center, Open Label, Randomized, Single-Dose, Two Way Crossover Study to Compare the Pharmacokinetics of Two NP101 Patch Applications (Sumatriptan Iontophoretic Transdermal System) With and Without Controlled Heat”: These data indicate that the addition of heat applied to the patch for the four-hour application time does not increase drug exposure.

All poster presentations are presented at the Hyatt Regency Century Plaza in Los Angeles, CA, from 11:00 am on Thursday, June 21 through 2:15 pm on Saturday, June 23. Authors will stand by their posters to answer questions during the following times: Friday, June 22 from 12:45 pm – 2:00 pm and Saturday, June 23 from 1:00 pm – 2:15 pm. All times are Pacific Daylight Time.

About the Migraine Patch (NP101 or Zelrix)
NP101 is an active, single-use, transdermal patch in development for the treatment of migraine. If approved, it will be the first transdermal patch for the treatment of migraine. The patch actively delivers sumatriptan, the most widely prescribed migraine medication. In three clinical trials involving more than 10,000 applications, NP101 offered patients fast onset and sustained relief of debilitating migraine symptoms including headache pain and migraine-related nausea (MRN). Because NP101 delivers sumatriptan transdermally, it may be an attractive treatment option for many of the approximately seven million migraineurs who might otherwise delay or avoid taking medication due to MRN. In addition, clinical trials suggest that many migraineurs fail to respond consistently to orally administered medications. This may result from a variety of causes including gastroparesis, a slowing of gastric absorption experienced by some migraine sufferers. The patch utilizes SmartRelief™, NuPathe’s proprietary transdermal delivery technology that allows the rapid yet tightly controlled transport of medication through the skin using a process called iontophoresis. As a result and based on clinical trial experience, the patch may offer a low incidence of triptan sensations that include chest tightness, flushing and feelings of pressure and numbness.

About NuPathe
NuPathe Inc. is a biopharmaceutical company focused on innovative neuroscience solutions for diseases of the central nervous system including neurological and psychiatric disorders. NuPathe’s lead product candidate, NP101, is an active, single-use, transdermal sumatriptan patch being developed for the treatment of migraine. In addition to NP101, NuPathe has two proprietary product candidates based on its LAD™, or Long-Acting Delivery, biodegradable implant technology that allows delivery of therapeutic levels of medication over a period of months with a single dose. NP201, for the continuous symptomatic treatment of Parkinson’s disease, utilizes a leading FDA-approved dopamine agonist, ropinirole, and is being developed to provide up to two months of continuous delivery. NP202, for the long-term treatment of schizophrenia and bipolar disorder, is being developed to address the long-standing problem of patient noncompliance by providing three months of continuous delivery of risperidone, an atypical antipsychotic. NuPathe is actively seeking partnerships to maximize the commercial potential for our pipeline products in the U.S. and territories throughout the world.

For more information about NuPathe, please visit our website and our blog at www.nupathe.com. You can also follow us on StockTwits (stocktwits.nupathe.com), Twitter (twitter.nupathe.com), SlideShare (slideshare.nupathe.com) and LinkedIn (linkedin.nupathe.com).

Contact Information:

Investor Contacts
John Woolford
Westwicke Partners, LLC
(443) 213-0506
john.woolford@westwicke.com

Keith A. Goldan
Vice President & Chief Financial Officer
NuPathe Inc.
(484) 567-0130

Media Contact
Jennifer Guinan
Sage Strategic Marketing
(610) 410-8111

Thursday, June 21st, 2012 Uncategorized Comments Off on NuPathe (PATH) to Present Migraine Patch Data at American Headache Society Meeting

Rite Aid (RAD) Reports First Quarter Fiscal 2013 Results

Rite Aid Corporation (NYSE: RAD) today reported improved financial results for the first quarter ended June 2, 2012.

The company reported revenues of $6.5 billion, a net loss of $28.1 million or $0.03 per diluted share and Adjusted EBITDA of $274.2 million or 4.2 percent of revenues. Results benefited from continued growth in same store sales and an improvement in gross margin.

“Our turnaround efforts continue to be successful as demonstrated by our sixth consecutive quarter of increased same store sales and Adjusted EBITDA,” said Rite Aid Chairman, President and CEO John Standley.

“During the quarter, we saw strong growth in same-store prescription counts while key initiatives like our popular wellness+ customer loyalty program, enhanced Rite Aid brand offerings and ground-breaking Wellness store format continued to gain traction. We’re proud of the hard work and dedication that our entire Rite Aid team has displayed in driving these positive results and look forward to delivering an even better shopping experience to our customers as we move ahead.”

First Quarter Summary

Revenues for the 13-week quarter were $6.5 billion versus revenues of $6.4 billion in last year’s first quarter. Revenues increased 1.2 percent primarily as a result of an increase in same store sales, which were partially offset by store closings.

Same store sales for the quarter increased 2.5 percent over the prior-year period, consisting of a 2.7 percent increase in front end sales and a 2.4 percent increase in pharmacy sales. Pharmacy sales included an approximate 326 basis point negative impact from new generic introductions. The number of prescriptions filled in same stores increased 3.0 percent over the prior year period, which includes the benefit of additional prescriptions resulting from the Walgreens/Express Scripts dispute. Prescription sales accounted for 68.4 percent of total drugstore sales, and third party prescription revenue was 96.6 percent of pharmacy sales.

Net loss was $28.1 million or $0.03 per diluted share compared to last year’s first quarter net loss of $63.1 million or $0.07 per diluted share. Included in the net loss were a $17.8 million or $0.02 per share loss on debt modification resulting from the successful completion of the previously announced refinancing and a $20.9 million or $0.02 per share charge related to a proposed settlement of a series of wage and hour class action lawsuits, neither of which was included in the company’s guidance. The decrease in net loss year over year resulted from an increase in Adjusted EBITDA and decreases in depreciation and amortization expense and lease termination and impairment charges. The company recorded an income tax benefit and corresponding charge in selling, general and administrative expenses (SG&A) of $60.2 million in the quarter related to the settlement of a Brooks Eckerd pre-acquisition tax audit, offset by the reversal of the related Jean Coutu Group tax indemnification asset. The tax benefit and corresponding SG&A charge had no impact on net loss, Adjusted EBITDA, or cash flow.

Adjusted EBITDA (which is reconciled to net loss on the attached table) was $274.2 million or 4.2 percent of revenues for the first quarter compared to $262.9 million or 4.1 percent of revenues for the like period last year. Adjusted EBITDA improved due to an increase in gross profit, driven by increased sales and an improvement in pharmacy gross margin, resulting from an increase in generic prescriptions. The increase in Adjusted EBITDA was partially offset by the increase in litigation expense related to the $20.9 million proposed class action settlement.

In the first quarter, the company relocated 2 stores, remodeled 143 stores and closed 15 stores. Completed wellness remodels at the end of the first quarter totaled 423. Stores in operation at the end of the first quarter totaled 4,652.

Rite Aid Updates Sales, Adjusted EBITDA and Net Loss Guidance for Fiscal 2013

Rite Aid has updated its fiscal 2013 guidance with sales expected to be between $25.3 billion and $25.7 billion and same store sales to range from a decrease of 0.5 percent to an increase of 1.0 percent over fiscal 2012. The reduction in the company’s sales and same store sales guidance is driven by an increase in the projected negative impact of new generic introductions on pharmacy same store sales from 520 to 600 basis points. Rite Aid has also raised the lower end of its Adjusted EBITDA (which is reconciled to net loss on the attached table) guidance to be between $950 million and $1.025 billion and its net loss guidance to be between $103 million and $248 million or a loss per diluted share of $0.13 to $0.29. Capital expenditures are expected to be approximately $300 million.

Conference Call Broadcast

Rite Aid will hold an analyst call at 8:30 a.m. Eastern Time today with remarks by Rite Aid’s management team. The call will be simulcast via the internet and can be accessed through the websites www.riteaid.com in the conference call section of investor information and www.StreetEvents.com. Slides related to materials discussed on the call will be available on both sites. A playback of the call will be available on both sites starting at 12 p.m. Eastern Time today. A playback of the call will also be available by telephone beginning at 12 p.m. Eastern Time today until 11:59 p.m. Eastern Time on June 23, 2012. The playback number is 1-855-859-2056 from within the U.S. and Canada or 1-404-537-3406 from outside the U.S. and Canada with the eight-digit reservation number 88838417.

Rite Aid is one of the nation’s leading drugstore chains with 4,652 stores in 31 states and the District of Columbia. Information about Rite Aid, including corporate background and press releases, is available through Rite Aid’s website at www.riteaid.com.

Statements, including guidance, in this release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties, including, but not limited to, our high level of indebtedness and our ability to make interest and principal payments on our debt and satisfy the other covenants contained in our debt agreements, general economic, market and competitive conditions, our ability to improve the operating performance of our stores in accordance with our long term strategy, the efforts of private and public third-party payers to reduce prescription drug reimbursements and encourage mail order, our ability to manage expenses and our investments in working capital, outcomes of legal and regulatory matters and changes in legislation or regulations, including healthcare reform. These and other risks, assumptions and uncertainties are described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K and in other documents that we file or furnish with the Securities and Exchange Commission, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Rite Aid expressly disclaims any current intention to update publicly any forward-looking statement after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.

See the attached table for a reconciliation of a non-GAAP financial measure, Adjusted EBITDA to net income (loss), the most comparable GAAP financial measure. We define Adjusted EBITDA as net income (loss) excluding the impact of income taxes (and any corresponding reduction of tax indemnification asset), interest expense, depreciation and amortization, LIFO adjustments, charges or credits for facility closing and impairment, inventory write-downs related to store closings, stock-based compensation expense, debt modifications and retirements, sale of assets and investments, revenue deferrals related to our customer loyalty program and other items.

RITE AID CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
(unaudited)
June 2, 2012 March 3, 2012
ASSETS
Current assets:
Cash and cash equivalents $ 214,774 $ 162,285
Accounts receivable, net 916,679 1,013,233
Inventories, net of LIFO reserve of $1,081,873 and $1,063,123 3,021,483 3,138,455
Prepaid expenses and other current assets 168,915 190,613
Total current assets 4,321,851 4,504,586
Property, plant and equipment, net 1,901,475 1,902,021
Other intangibles, net 502,684 528,775
Other assets 347,122 428,909
Total assets $ 7,073,132 $ 7,364,291
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Current maturities of long-term debt and lease financing obligations $ 33,627 $ 79,421
Accounts payable 1,336,975 1,426,391
Accrued salaries, wages and other current liabilities 1,109,806 1,064,507
Total current liabilities 2,480,408 2,570,319
Long-term debt, less current maturities 6,025,749 6,141,773
Lease financing obligations, less current maturities 104,029 107,007
Other noncurrent liabilities 1,072,279 1,131,948
Total liabilities 9,682,465 9,951,047
Commitments and contingencies
Stockholders’ deficit:
Preferred stock – Series G 1 1
Preferred stock – Series H 174,143 171,569
Common stock 899,074 898,687
Additional paid-in capital 4,280,518 4,278,988
Accumulated deficit (7,911,455 ) (7,883,367 )
Accumulated other comprehensive loss (51,614 ) (52,634 )
Total stockholders’ deficit (2,609,333 ) (2,586,756 )
Total liabilities and stockholders’ deficit $ 7,073,132 $ 7,364,291
RITE AID CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share amounts)
(unaudited)
Thirteen weeks ended

June 2, 2012

Thirteen weeks ended

May 28, 2011

Revenues $ 6,468,287 $ 6,390,793
Costs and expenses:
Cost of goods sold 4,719,516 4,699,874
Selling, general and administrative expenses 1,688,066 1,586,236
Lease termination and impairment charges 12,143 17,090
Interest expense 130,588 130,760
Loss on debt modifications and retirements, net 17,842 22,434
Gain on sale of assets, net (10,051 ) (4,792 )
6,558,104 6,451,602
Loss before income taxes (89,817 ) (60,809 )
Income tax (benefit) expense (61,729 ) 2,273
Net loss $ (28,088 ) $ (63,082 )
Basic and diluted loss per share:
Numerator for loss per share:
Net loss $ (28,088 ) $ (63,082 )
Accretion of redeemable preferred stock (25 ) (25 )
Cumulative preferred stock dividends (2,574 ) (2,425 )
Loss attributable to common stockholders – basic and diluted $ (30,687 ) $ (65,532 )
Basic and diluted weighted average shares 887,516 883,915
Basic and diluted loss per share $ (0.03 ) $ (0.07 )
RITE AID CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(In thousands)
(unaudited)
Thirteen weeks ended

June 2, 2012

Thirteen weeks ended

May 28, 2011

Net loss $ (28,088 ) $ (63,082 )
Other comprehensive loss:
Defined benefit pension plans:
Amortization of prior service cost, net transition obligation and net actuarial losses included in net periodic pension cost 1,020 590
Total other comprehensive loss $ 1,020 $ 590
Comprehensive loss $ (27,068 ) $ (62,492 )
RITE AID CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL OPERATING AND CASH FLOW INFORMATION
(Dollars in thousands, except per share amounts)
(unaudited)
Thirteen weeks ended

June 2, 2012

Thirteen weeks ended

May 28, 2011

SUPPLEMENTAL OPERATING INFORMATION
Revenues $ 6,468,287 $ 6,390,793
Cost of goods sold 4,719,516 4,699,874
Gross profit 1,748,771 1,690,919
LIFO charge 18,750 20,001
FIFO gross profit 1,767,521 1,710,920
Gross profit as a percentage of revenues 27.04 % 26.46 %
LIFO charge as a percentage of revenues 0.29 % 0.31 %
FIFO gross profit as a percentage of revenues 27.33 % 26.77 %
Selling, general and administrative expenses 1,688,066 1,586,236
Selling, general and administrative expenses as a percentage of revenues 26.10 % 24.82 %
Cash interest expense 122,827 122,192
Non-cash interest expense 7,761 8,568
Total interest expense 130,588 130,760
Adjusted EBITDA 274,165 262,854
Adjusted EBITDA as a percentage of revenues 4.24 % 4.11 %
Net loss (28,088 ) (63,082 )
Net loss as a percentage of revenues -0.43 % -0.99 %
Total debt 6,163,405 6,170,563
Invested cash 101,985 121,603
Total debt net of invested cash 6,061,420 6,048,960
SUPPLEMENTAL CASH FLOW INFORMATION
Payments for property, plant and equipment 78,000 48,755
Intangible assets acquired 8,958 8,072
Total cash capital expenditures 86,958 56,827
Equipment received for noncash consideration
Equipment financed under capital leases 3,865 1,562
Gross capital expenditures $ 90,823 $ 58,389
RITE AID CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA
(In thousands)
Thirteen weeks ended

June 2, 2012

Thirteen weeks ended

May 28, 2011

Reconciliation of net loss to adjusted EBITDA:
Net loss $ (28,088 ) $ (63,082 )
Adjustments:
Interest expense 130,588 130,760
Income tax (benefit) expense (61,729 ) 2,273
Reduction of tax indemnification asset 60,237
Depreciation and amortization 106,371 117,090
LIFO charges 18,750 20,001
Lease termination and impairment charges 12,143 17,090
Stock-based compensation expense 3,958 3,571
Gain on sale of assets, net (10,051 ) (4,792 )
Loss on debt modifications and retirements, net 17,842 22,434
Closed facility liquidation expense 1,456 2,647
Severance costs (49 )
Customer loyalty card program revenue deferral 23,180 21,866
Other (492 ) (6,955 )
Adjusted EBITDA $ 274,165 $ 262,854
Percent of revenues 4.24 % 4.11 %
RITE AID CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
(unaudited)
Thirteen weeks ended

June 2, 2012

Thirteen weeks ended

May 28, 2011

OPERATING ACTIVITIES:
Net loss $ (28,088 ) $ (63,082 )
Adjustments to reconcile to net cash provided by operating activities:
Depreciation and amortization 106,371 117,090
Lease termination and impairment charges 12,143 17,090
LIFO charges 18,750 20,001
Gain on sale of assets, net (10,051 ) (4,792 )
Stock-based compensation expense 3,958 3,571
Loss on debt modifications and retirements, net 17,842 22,434
Changes in operating assets and liabilities:
Accounts receivable 96,385 1,018
Inventories 97,993 (32,486 )
Accounts payable (38,703 ) 174,597
Other assets and liabilities, net 87,003 129,893
Net cash provided by operating activities 363,603 385,334
INVESTING ACTIVITIES:
Payments for property, plant and equipment (78,000 ) (48,755 )
Intangible assets acquired (8,958 ) (8,072 )
Proceeds from dispositions of assets and investments 11,283 8,423
Net cash used in investing activities (75,675 ) (48,404 )
FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt 426,263 341,285
Net repayments to revolver (136,000 ) (28,000 )
Principal payments on long-term debt (463,637 ) (385,865 )
Change in zero balance cash accounts (41,901 ) (122,097 )
Net proceeds from the issuance of common stock 534 57
Financing fees paid for early debt redemption (11,069 )
Deferred financing costs paid (9,629 ) (2,789 )
Net cash used in financing activities (235,439 ) (197,409 )
Increase in cash and cash equivalents 52,489 139,521
Cash and cash equivalents, beginning of period 162,285 91,116
Cash and cash equivalents, end of period $ 214,774 $ 230,637
RITE AID CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
RECONCILIATION OF NET LOSS GUIDANCE TO ADJUSTED EBITDA GUIDANCE
YEAR ENDING MARCH 2, 2013
(In thousands, except per share amounts)
Guidance Range
Low High
Sales $ 25,275,000 $ 25,675,000
Same store sales (a) -0.5 % 1.0 %
Gross capital expenditures $ 300,000 $ 300,000
Reconciliation of net loss to adjusted EBITDA:
Net loss $ (248,000 ) $ (103,000 )
Adjustments:
Interest expense 530,000 525,000
Income tax benefit (95,000 ) (100,000 )
Reduction of tax indemnification asset 100,000 100,000
Depreciation and amortization 415,000 410,000
LIFO charge 90,000 60,000
Store closing and impairment charges 100,000 90,000
Stock-based compensation expense 18,000 16,000
Customer loyalty card program revenue deferral 28,000 24,000
Loss on debt modification 18,000 18,000
Other (6,000 ) (15,000 )
Adjusted EBITDA $ 950,000 $ 1,025,000
Diluted loss per share $ (0.29 ) $ (0.13 )
(a) Reflects approximately 600 basis points reduction in pharmacy same store sales from new generic introductions.
Thursday, June 21st, 2012 Uncategorized Comments Off on Rite Aid (RAD) Reports First Quarter Fiscal 2013 Results

Ampio (AMPE) Successful Type B Pre-IND Meeting with the FDA

Ampio Reports Successful Type B Pre-IND Meeting with the FDA for its Drug Zertane™ to treat Premature Ejaculation (PE)

GREENWOOD VILLAGE, Colo., June 21, 2012 /PRNewswire/ — Ampio Pharmaceuticals, Inc. (Nasdaq: AMPE), a clinical stage biopharmaceutical company, with repurposed drugs and new molecular entities (NMEs) that treat inflammatory diseases, including osteoarthritis, diabetic macular edema (DME) and sexual dysfunction announced today the outcome of its pre-IND meeting with the CDER Urology and Reproductive group (DRUP) division of the FDA that took place on June 20, 2012. The FDA provided all the necessary guidance on the design and conduct of two concurrent phase III pivotal clinical trials of approximately 15 weeks duration. Successful completion of these trials, powered adequately (based on the phase 3 European trials), will allow for FDA clearance to market Zertane™ as a treatment for life-long premature ejaculation (PE) as defined by the International Society of Sexual Medicine. These clinical trials would qualify Zertane™’s registration/clearance under the 505(b) 2 regulatory pathway in the US.

(Logo: http://photos.prnewswire.com/prnh/20120516/MM09116LOGO)

Michael Macaluso, Ampio’s CEO, noted, “We could not be more pleased, as the FDA guidance gave us a clear path to progress our Zertane™ drug through clinical development rapidly, with procedures that permit prompt resolution of the few outstanding issues, so we could commence the trials by the end of this year. This positive guidance will allow us to formalize our negotiations with potential partners.”

“This productive meeting with the FDA was expected by the company,” continued Mr. Macaluso, “because Zertane™ already successfully completed two phase II and two phase III trials in Europe that met all end points including efficacy and safety.  A webcast to inform our shareholders about the status of Zertane™ collaborations as well as more details of the regulatory path in the US and an update on Optina™ clinical results and regulatory strategy for the treatment of DME will be held soon (date and time TBA).”

About Zertane™
Zertane™ is a repurposed oral drug to treat premature ejaculation, a condition that has a major impact on the quality of life for men and their sexual partners. The active ingredient in Zertane™ has multiple mechanisms of actions that can delay ejaculation. This drug also has an excellent safety record established during 30 years of human use for other medical indications. These unique pharmaceutical qualities, exceptional human safety record, and a distinctive non-standard dosage and formulation (ODT-Orally Dissolving Tablets) not available in generic form, differentiate Zertane™ from other treatments for premature ejaculation. Zertane™ is taken as needed (on-demand) before sexual activity, and is not required to be taken on a daily basis to be effective.

About Ampio
Ampio Pharmaceuticals, Inc. develops innovative proprietary drugs for inflammation, eye disease, kidney disease, CNS disease, metabolic disease and male sexual dysfunction. The product pipeline includes new uses for previously approved drugs and new molecular entities (“NMEs”). By concentrating on development of new uses for previously approved drugs, approval timelines, costs and risk of clinical failure are reduced because these drugs have strong potential to be safe and effective while their shorter development times can significantly increase near term value. A key strategy includes actively exploring partnership, licensing and other collaboration opportunities to maximize Ampio’s product development programs. For more information about Ampio, please visit our website, www.ampiopharma.com.

Forward-Looking Statements
Ampio’s statements in this press release that are not historical fact and that relate to future plans or events are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by use of words such as “believe,” “expect,” “plan,” “anticipate,” and similar expressions. These forward-looking statements include risks associated with clinical trials, expected results, regulatory approvals, successful commercialization and marketing of Zertane™ and the combination drug in Korea, and changes in business conditions and similar events. The risks and uncertainties involved include those detailed from time to time in Ampio’s filings with the Securities and Exchange Commission, including Ampio’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Contact: Rick Giles, Investor Relations Ampio Pharmaceuticals, Inc. 720-437-6500

SOURCE Ampio Pharmaceuticals, Inc.

Thursday, June 21st, 2012 Uncategorized Comments Off on Ampio (AMPE) Successful Type B Pre-IND Meeting with the FDA