Archive for September, 2012

Synergy (SYRG) to Present at the Fourth Annual Johnson Rice Energy Conference

PLATTEVILLE, Colo., Sept. 28, 2012 /PRNewswire/ — Synergy Resources Corporation (NYSE MKT: SYRG), a U.S. oil and gas exploration and production company focused on the Denver-Julesburg (D-J) Basin, has been invited to present at the Fourth Annual Johnson Rice Energy Conference being held on October 1st to the 4th, 2012 at the Hotel Monteleone in New Orleans.

Synergy Resources management is scheduled to present at 8:00 a.m. central time on October 4th, with one-on-one meetings held on October 3rd and 4th.  Management will discuss the company’s growth prospects driven by a robust vertical and horizontal drilling program in the D-J Basin.

A live webcast and presentation slides will be available at the time of the presentation in the Investor Relations section of the company’s Web site at www.syrginfo.com or click on the direct webcast link.  A replay of the presentation will be available for 90 days on the company’s website.

To schedule a one-on-one meeting, contact your Johnson Rice sales representative or Amanda Wallace at (504) 584-1252.

About Johnson Rice & Company
Johnson Rice & Company L.L.C. was founded in 1987 as an institutional research and sales firm. The investment banking department was added in 1991 and has been involved in over $14 billion in capital transactions. Located in New Orleans, LA, Johnson Rice focuses on a limited number of industries in order to provide superior, value-added services to our institutional and corporate clients. The firm is nationally recognized for its expansive coverage of the energy industry, and also has a strong consumer focus with coverage of specialty retailer companies.

About Synergy Resources Corporation
Synergy Resources Corporation is a domestic oil and natural gas exploration and production company. Synergy’s core area of operations is in the Denver-Julesburg Basin, which encompasses Colorado, Wyoming, Kansas, and Nebraska. The Wattenberg field in the D-J Basin ranks as one of the most productive fields in the U.S. The company’s corporate offices are located in Platteville, Colorado. More company news and information about Synergy Resources is available at www.SYRGinfo.com.

Friday, September 28th, 2012 Uncategorized Comments Off on Synergy (SYRG) to Present at the Fourth Annual Johnson Rice Energy Conference

Insmed (INSM) Announces Pricing of Approximately $26 Million Direct Public Offering

MONMOUTH JUNCTION, N.J., Sept. 28, 2012 /PRNewswire/ — Insmed Incorporated (Nasdaq CM: INSM), a biopharmaceutical company focused on developing novel inhalation therapeutics for patients suffering from serious orphan lung diseases, today announced that it has priced a direct public offering of approximately 6.3 million shares of its Common Stock to certain affiliates of Ayer Capital, RA Capital and Quaker Partners, at a price of $4.07 per share, which was the consolidated closing bid price on the NASDAQ Capital Market on September 27, 2012, with gross proceeds to Insmed of $25.7 million.  The Company also expects to offer for sale up to an additional $2.0 million of shares of its Common Stock (based on the then most recent consolidated closing bid price of the Common Stock on the Nasdaq Capital Market) to an investor, which offering is expected to close on or before October 31, 2012.

The shares described above are being offered by Insmed pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Insmed Incorporated, Attention: Andi Drucker, Senior Vice President, General Counsel and Corporate Secretary, 9 Deer Park Drive, Suite C, Monmouth Junction, New Jersey 08852, or by phone at (732) 997-4600.

About Insmed

Insmed Incorporated is a biopharmaceutical company dedicated to improving the lives of patients battling serious orphan lung diseases through the development and commercialization of novel, targeted inhalation therapies in orphan patient populations with critical unmet needs in high-growth markets. Insmed’s lead candidate, ARIKACE®, is engineered to deliver a proven and potent anti-infective directly to the site of serious lung infections to improve the efficacy, safety and convenience of treatment for at least two identified patient populations: cystic fibrosis (CF) patients with Pseudomonas lung infections and patients with nontuberculous mycobacteria lung infections (NTM). Following strong phase 2 results in CF patients, Insmed’s CLEAR-108 phase 3 registrational study of ARIKACE in Europe and Canada is well underway, as is the U.S. Phase 2 trial in NTM (TARGET-NTM). The Company expects to report clinical results from both the CLEAR-108 and TARGET-NTM studies in 2013 and currently is preparing for regulatory filings and commercialization.  For more information, please visit http://www.insmed.com.

Forward-Looking Statements

Statements in this press release concerning Insmed’s future expectations, plans and prospects, including, without limitation, statements regarding the proposed public offering and any additional public offering, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements due to various risks, uncertainties and important factors, including those set forth in the “Risk Factors” section in our Annual Report on Form 10-K for the fiscal year ended December 31, 2011 filed with the Securities and Exchange Commission, any of which could cause our actual results to differ from those contained in the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Amicus undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof.

Investor Relations Contact:

Brian Ritchie – FTI Consulting

212-850-5683

brian.ritchie@fticonsulting.com

Media Contact:

Irma Gomez-Dib – FTI Consulting

212-850-5761

irma.gomez-dib@fticonsulting.com

Friday, September 28th, 2012 Uncategorized Comments Off on Insmed (INSM) Announces Pricing of Approximately $26 Million Direct Public Offering

Dehaier Medical (DHRM) Signed an Exclusive Distribution Agreement

Dehaier Medical Signed an Exclusive Distribution Agreement with GCE Group, Europe’s Leading Gas-equipment Company

BEIJING, Sept. 28, 2012 /PRNewswire-FirstCall/ — Dehaier Medical Systems Ltd. (NASDAQ: DHRM) (“Dehaier”), an emerging leader in the development, assembly, marketing and sale of medical devices and homecare medical products in China, today announced that it has signed a two-year distribution agreement with GCE group, a leading global compressed gas-equipment company, to become the exclusive distributor for GCE’s EASE II products in Mainland China.

(Logo: http://photos.prnewswire.com/prnh/20100422/CNTH001LOGO)

EASE II is an automatically triggered high-flow oxygen device, which can be connected with a portable oxygen tank or medical gas pipeline system to deliver high flows of oxygen to patients with minimal breathing resistance. The device can also benefit patients with sudden cardiac vascular disease, gas poisoning and other patients who require oxygen therapy. In certain emergency situations, EASE II helps to save lives by effectively increasing the degree of blood oxygen saturation and accelerating the recovery of cell functions when patients experience severe hypoxia.

In addition, the EASE II system can be used to deliver nitrous oxide-oxygen on demand to administer effective pain relief for a wide range of medical situations, such as accidents, medical surgery, skin burns, and various sports injuries. The product, distinguished by its portability and easy use, has been widely used in many fields including disaster relief efforts, national defense, emergency rooms, ambulances, and medical institutions around the world.

Dehaier’s President and CEO, Mr. Ping Chen, stated, “We are excited to be the exclusive distributor of EASE II in China and plan to occupy the immature market of high-efficiency oxygen in China with the GCE Group. Furthermore, Dehaier will begin to promote this efficient and state of the art emergency care concept and its related products by working closely with hospital specialists, as well as participating in academic seminars on emergency care and oxygen therapy. We believe that the EASE II concept and its application have a great market potential in the China’s growing medical equipment market, and going forward, we hope that EASE II system will be an important revenue contributors to Dehaier. ”

About GCE Group

The GCE Group is Europe’s leading gas-equipment company and organized according to four business areas: Cutting and Welding, Medical, High-Purity and Process Applications. Backed by Argan Capital Advisors LLP, a leading independent private equity fund focused on acquiring European mid-market companies, GCE’s product portfolio corresponds to a large variety of applications, from simple pressure regulators and blowpipes for cutting and welding to sophisticated gas supply systems for medical and electronics industry applications. GCE’s portfolio includes a large number of brands such as Butbro, Charledave, DruVa, Mediline, Mujelli, Propaline, Rhona and Sabre Medical, which are leaders within their own respective regional markets and applications. The GCE Group has grown rapidly since its establishment and is leading the restructuring of the European gas-equipment industry through mergers and acquisitions. The group currently employs approximately 1,100 people.

About Dehaier Medical Systems Ltd.

Dehaier is an emerging leader in the development, assembly, marketing and sale of medical products, including respiratory and oxygen homecare medical products. The company develops and assembles its own branded medical devices and homecare medical products from third-party components. The company also distributes products designed and manufactured by other companies, including medical devices from IMD (Italy), Welch Allyn (USA), HEYER (Germany), Timesco (UK), eVent Medical (US) and JMS (Japan). Dehaier’s technology is based on six patents, nine software copyrights and proprietary technology. More information may be found at http://www.dehaier.com.cn

Forward-looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, government approvals or performance, and underlying assumptions and other statements that are other than statements of historical facts, including in particular any implications regarding the exclusive distribution agreement of EASE II. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, future developments in payment for and demand for medical equipment and services, implementation of and performance under the joint venture agreement by all parties, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Contact Us

Dehaier Medical Systems Limited
Surie Liu
+86 10-5166-0080
lius@dehaier.com.cn

Dehaier Medical Systems Limited
Tina He
+86 10-5166-0080
hexw@dehaier.com.cn

Friday, September 28th, 2012 Uncategorized Comments Off on Dehaier Medical (DHRM) Signed an Exclusive Distribution Agreement

Cytori (CYTX) Awarded Contract Valued up to $106 Million

Cytori Awarded Contract Valued up to $106 Million by Biomedical Advanced Research and Development Authority (BARDA) to Develop Cell Therapies for Thermal Burns Combined with Radiation Injury

Cytori Therapeutics (NASDAQ: CYTX) has been awarded a contract that may be valued up to $106 million by the U.S. Department of Health and Human Service’s Biomedical Advanced Research and Development Authority (BARDA), if all Contract Options are executed. The Contract is for preclinical and clinical development of the Company’s cell therapy for the treatment of thermal burns combined with radiation injury. The aim is to evaluate and create a new countermeasure for thermal burns which would be useful following a mass-casualty event. Cytori’s cell therapy is based on a patient’s own adipose-derived stem and regenerative cells (ADRCs) processed by the Company’s proprietary Celution® System technology.

“We are honored that BARDA selected Cytori as the first company to be awarded a cell therapy development contract for thermal burns,” said Christopher J. Calhoun, chief executive officer of Cytori. “This relationship with the U.S. government will facilitate development of our cell therapy for thermal burns, which could then serve as an important new path to market for soft tissue indications in the U.S. Additionally, the findings under this contract will complement our existing efforts to develop cell therapies for a range of wound healing applications outside the scope of this contract. Our expectation of success is based on our extensive clinical experience treating a variety of conditions, including radiation-related wounds, thermal burns, fistulae and diabetic ulcers in Europe and Asia.”

The base contract covers a two year period and is extendable up to five years with Options. The total award will support all clinical, preclinical, regulatory, and technology development activities needed to complete the FDA approval process for use in thermal burn injury. The guaranteed base period is valued at approximately $4.7 million and includes preclinical research and the acceleration of Cytori’s ongoing development of the Celution® System to further improve cell processing. Under the terms of the contract, successful achievement of specified milestones will allow BARDA to review and, at its discretion, consider the execution of Options and qualify Cytori to receive up to approximately $101 million in additional funding, if completely executed, to bring the technology through the FDA approval process for thermal burns under a device-based PMA regulatory pathway.

Cytori’s cell therapy is developed using a patient’s own adipose-derived stem and regenerative cells (ADRCs) that are processed by the Company’s proprietary Celution® System and then delivered back to the patient. Cytori is developing cell therapies for cardiovascular and soft tissue indications, which if established, would create an infrastructure that the government could rely on to deliver cell therapy following a mass casualty event. Cytori expects that successful development of the Company’s cell therapy for thermal burns under this contract may result in government procurement.

The Government Accountability Office reports that in a mass casualty event, 10,000 patients could require thermal burn care. The limited number of specialist surgeons and burn centers in the U.S. creates a public health need for a burn wound therapy that can be quickly and broadly applied by non-specialist medical personnel following such an event. According to the American Burn Association, there are approximately 50,000 to 70,000 burn cases each year in the United States.

This press release has an accompanying multimedia page providing further details about Cytori. The multimedia page can be accessed via the following link: https://smp.newshq.businesswire.com/pages/cytori-therapeutics.

Management Conference Call and Webcast

Cytori’s management will host a conference call and webcast at 8:30 AM Eastern Time today to further discuss and answer investor questions related to the contract. The dial-in number for the webcast is +1.877.402.3914, Conference ID #36330078 and the webcast may be accessed under “Webcasts” in the Investor Relations section of Cytori’s website (http://ir.cytori.com). If you are unable to participate in the live conference call, you may access the archived webcast approximately 90 minutes after the end of the call.

About Cytori

Cytori Therapeutics, Inc. is developing cell therapies based on autologous adipose-derived regenerative cells (ADRCs) to treat cardiovascular disease and repair soft tissue defects. Our scientific data suggest ADRCs improve blood flow, moderate the immune response and keep tissue at risk of dying alive. As a result, we believe these cells can be applied across multiple “ischemic” conditions. These therapies are made available to the physician and patient at the point-of-care by Cytori’s proprietary technologies and products, including the Celution® system product family. www.cytori.com

Cautionary Statement Regarding Forward-Looking Statements

This communication includes forward-looking statements regarding events, trends and business prospects, which may affect our future operating results and financial position. Such statements, including, but not limited to, those regarding our expectation regarding our ability to successfully develop a thermal burn therapy, the potential benefits of a regulatory approval for thermal burn to advance approvals for other related indications, the sufficiency of the government funding to complete the device based PMA approval process, the potential decision of the government to procure Cytori products in the future, and the potential benefits of thermal burn development work to translate to other related therapies are subject to risks and uncertainties that could cause our actual results and financial position to differ materially. Some of these risks and uncertainties include the challenges inherent in preclinical, clinical and regulatory uncertainties, including risks in the collection and results of clinical data, and final clinical outcomes as well as our history of operating losses, regulatory uncertainties, future Government funding and procurement priorities, dependence on third party performance, and other risks and uncertainties described under the “Risk Factors” section in Cytori’s Securities and Exchange Commission Filings on Form 10-K and Form 10-Q. Cytori assumes no responsibility to update or revise any forward-looking statements contained in this press release to reflect events, trends or circumstances after the date of this press release.

Friday, September 28th, 2012 Uncategorized Comments Off on Cytori (CYTX) Awarded Contract Valued up to $106 Million

China Nuokang Bio-Pharma (NKBP) Enters Into Definitive Agreement

China Nuokang Bio-Pharmaceutical Inc. Enters Into Definitive Agreement for Going Private Transaction

BEIJING, Sept. 27, 2012 (GLOBE NEWSWIRE) — China Nuokang Bio-Pharmaceutical Inc. (Nasdaq:NKBP) (“Nuokang” or the “Company”), a leading China-based biopharmaceutical company focused on the research, development, manufacture, marketing and sales of hospital-based medical products, today announced that it has entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Kingbird Investment Inc. (“Parent”), a Cayman Islands exempted company with limited liability and beneficially owned by Ms. Yuhuan Zhu, the wife of Mr. Baizhong Xue, the Company’s Chairman and Chief Executive Officer, and Kingbird Mergerco. Inc., a Cayman Islands exempted company with limited liability and a direct wholly-owned subsidiary of Parent (“Merger Sub”).

Subject to satisfaction of the Merger Agreement’s terms and conditions, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation (the “Merger”). Pursuant to the Merger Agreement, each of the Company’s ordinary shares issued and outstanding immediately prior to the effective time of the Merger (the “Shares”) will be canceled and cease to exist in exchange for the right to receive $0.725 without interest, and each ADS, which represents eight Shares, will represent the right to surrender the ADS in exchange for $5.80 in cash without interest, except for (a) Shares owned by Parent, Merger Sub or the Company (as treasury shares, if any), or by any direct or indirect wholly owned subsidiary of Parent, Merger Sub or the Company, in each case immediately prior to the effective time of the Merger, which will be cancelled, cease to exist and receive no consideration, (b) Shares beneficially owned by Mr. Xue or his affiliates immediately prior to the effective time of the Merger, which will survive the Merger and receive no consideration, and (c) Shares owned by shareholders who have validly exercised and have not effectively withdrawn or lost their rights to dissent from the Merger under the Cayman Companies Law (the “Dissenting Shares”), which will be cancelled for the right to payment of fair value of the Dissenting Shares in accordance with the Cayman Companies Law. The offer represents a premium of 56.8% over the Company’s closing price of $3.70 per ADS on May 8, 2012, the last trading day prior to the Company’s announcement of its receipt of a “going-private” proposal and a premium of 101.1% to the volume-weighted average closing price of the Company’s ADSs during the 90 trading days prior to May 8, 2012.

Merger Sub has entered into a facility agreement with China Grand Enterprises (HK) Limited, a company incorporated in Hong Kong, to finance the transactions contemplated by the Merger Agreement. Subject to the completion of, and immediately following, the Merger, Mr. Baizhong Xue  and Ms. Yuhuan Zhu will cause Surplus International Investment Limited, the Hong Kong subsidiary of the Company, to transfer 55% of the equity interests in the three PRC subsidiaries of the Company to China Grand Enterprises Group Co., Ltd. (“CGE”), an investment management company based in China covering a wide range of sectors including healthcare, real estate, logistics and financial services, and an affiliate of China Grand Enterprises (HK) Limited, in accordance with a framework agreement among Mr. Baizhong Xue, Ms. Yuhuan Zhu and CGE. The proceeds from the transfer of equity interests will be used to repay the loan under, and in accordance with the terms and conditions, of the facility agreement.

The Company’s Board of Directors, acting upon the unanimous recommendation of an independent committee of the Board of Directors comprising solely independent and disinterested directors (the “Independent Committee”), approved the Merger Agreement and the Merger and resolved to recommend that the Company’s shareholders vote to authorize and approve the Merger Agreement and the Merger. The Independent Committee negotiated the terms of the Merger Agreement with the assistance of its financial and legal advisors.

The Merger, which is currently expected to close before the end of the first quarter of 2013, is subject to the approval of the Merger Agreement by an affirmative vote of shareholders representing at least two-thirds of the Shares present and voting in person or by proxy as a single class at a meeting of the Company’s shareholders which will be convened to consider the approval of the Merger Agreement and the Merger, as well as certain other customary closing conditions. If completed, the Merger will result in the Company becoming a privately-held company and its ADSs will no longer be listed on The NASDAQ Global Market.

Lazard Asia (Hong Kong) Limited and Houlihan Lokey (China) Limited are serving as financial advisors to the Independent Committee. Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal advisor to the Independent Committee, and Maples and Calder is serving as Cayman Islands legal advisor to the Independent Committee. Kirkland & Ellis International LLP is serving as U.S. legal advisor to Mr. Baizhong Xue.

Additional Information about the Transaction

The Company will furnish to the Securities and Exchange Commission (the “SEC”) a report on Form 6-K regarding the proposed merger, which will include the Merger Agreement and related documents. All parties desiring details regarding the proposed merger are urged to review these documents, which will be available at the SEC’s website (http://www.sec.gov).

In connection with the proposed Merger, the Company will prepare and mail a proxy statement to its shareholders. In addition, certain participants in the proposed Merger will prepare and mail to the Company’s shareholders a Schedule 13E-3 transaction statement. These documents will be filed with or furnished to the SEC. INVESTORS AND SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE MATERIALS AND OTHER MATERIALS FILED WITH OR FURNISHED TO THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED MERGER AND RELATED MATTERS. In addition to receiving the proxy statement and Schedule 13E-3 transaction statement by mail, shareholders also will be able to obtain these documents, as well as other filings containing information about the Company, the proposed Merger and related matters, without charge, from the SEC’s website (http://www.sec.gov) or at the SEC’s public reference room at 100 F Street, NE, Room 1580, Washington, D.C. 20549. In addition, these documents can be obtained, without charge, by contacting the Company at the following address and/or telephone number:

China Nuokang Bio-Pharmaceutical Inc.

No. 18-1 East Nanping Road

Hunnan National New & High-tech Development Zone

Shenyang, Liaoning Province

People’s Republic of China 110171

Telephone: +86-24-2469-6033

The Company and certain of its directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be “participants” in the solicitation of proxies from the Company’s stockholders with respect to the proposed Merger. Information regarding the persons who may be considered “participants” in the solicitation of proxies will be set forth in the proxy statement and Schedule 13E-3 transaction statement relating to the proposed Merger when it is filed with the SEC. Additional information regarding the interests of such potential participants will be included in the proxy statement and Schedule 13E-3 transaction statement and the other relevant documents filed with the SEC when they become available.

This announcement is neither a solicitation of a proxy, an offer to purchase nor a solicitation of an offer to sell any securities and it is not a substitute for any proxy statement or other filings that may be made with the SEC should the proposed Merger go forward.

About China Nuokang Bio-Pharmaceutical Inc.

China Nuokang Bio-Pharmaceutical Inc. (Nasdaq:NKBP) is a leading biopharmaceutical company in China focused on the research, development, manufacture, marketing and sales of hospital-based medical products. The Company provides a diversified portfolio of products across more than 4,200 hospitals in China. Nuokang’s principal products include Baquting®, China’s leading hemocoagulase product by market share, Kaitong®, a lipid emulsion alprostadil product for the treatment of peripheral vascular diseases, cardiocerebral microcirculation disorders and post-surgery thrombosis; and alpha lipoic acid capsules, or ALA, an antioxidant product that addresses diabetic neuropathy. The Company’s product pipeline includes product candidates under development in hematological, cardiovascular and cerebrovascular disease diagnosis, treatment and prevention. Please visit www.nkbp.com for more information.

Forward-Looking Statements

This press release contains forward-looking statements relating to the potential acquisition of the Company by an affiliate of Mr. Baizhong Xue, including the expected date of closing of the Merger. These are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. The actual results of the transaction could vary materially as a result of a number of factors, including: uncertainties as to how the Company’s shareholders will vote at the extraordinary general meeting; the possibility that competing offers will be made; and the possibility that various closing conditions for the transaction may not be satisfied or waived. These forward-looking statements reflect the Company’s expectations as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

CONTACT: China Nuokang Bio-Pharmaceutical Inc.
         Mr. Steven Duan
         Vice President of Investor Relations
         Email: dsz@nkbp.com
         ICR, Inc.
         Mr. Rob Koepp
         Tel: (+86) 10-6583-7516 or (646) 405-5180
         Email: robert.koepp@icrinc.com
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Local Corp. (LOCM) Set to Monetize Mobile in $2.7 Billion Mobile Advertising Market

Local Corporation (NASDAQ: LOCM), a leading online local media company, today announced it is extending its current online infrastructure for search and advertising for local business onto mobile devices with the release of its Local.com mobile app for iOS® and Androidenabled devices. The new app provides on-the-go consumers with the ability to search for information on local businesses, including products and services.

The move marks Local Corporation’s expansion into the growing U.S. mobile advertising market, which is expected to reach $2.7 billion this year, according to BIA/Kelsey.

The Local.com mobile app is free and now available for download on the iOS platform here and the Android platform here. The app is iOS 6 compatible.

“Local Corporation expects to generate over $100 million in revenues this year by connecting local businesses with online customers. As a result, we believe we’re well positioned to monetize mobile consumers at the local level as well,” said Michael Sawtell, president and chief operations officer, Local Corporation. “We’ve received positive feedback on the app so far, and we’re confident that the Local.com app’s streamlined interface, relevant results and broad feature set will appeal to today’s mobile consumer. We believe that our expanding suite of mobile offerings unlocks new potential value across our local media platform and that we’re poised to lead in the emerging mobile local market.”

The Local.com app is one of the first local search apps to include “smart” suggestions, which proactively help consumers discover local businesses that directly meet their needs. The location-based app provides over 30 user-friendly suggestions based on the time of day, location and current weather of consumers using the app, such as “find a movie theater in my area” or “warm up with a hot beverage” that shorten the distance between search and satisfaction.

Consumers can search via the app by typing or using voice search to find interactive business listings that include directions, reviews, quick engagement options and more.

Additional features of the app include:

  • Ability to search using keyword, location, category and voice search
  • Personalized home page, with local maps and weather information
  • One touch access to call businesses, view business locations, maps and directions
  • Access to user reviews, including the ability to rate and review businesses
  • Ability to take photos from phone or device and post to reviews
  • Ability to create a custom profile, save to favorites and share with friends via social media

More information on the app and its key elements can be viewed at: http://app.local.com/.

About Local Corporation

Local Corporation (NASDAQ:LOCM) is a leading online local media company that connects brick-and-mortar businesses with over a million online and mobile consumers each day using a variety of innovative digital marketing products. To advertise, or for more information, visit: http://www.localcorporation.com.

Forward Looking Statements

This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as “anticipate,” “plan,” “will,” “intend,” “believe” or “expect” or 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 are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Key risks are described in the filings we make with the U.S. Securities and Exchange Commission. The forward-looking statements in this release speak only as of the date they are made. We undertake no obligation to revise or update publicly any forward-looking statement for any reason. Unless otherwise stated, all site traffic and usage statistics are from third-party service providers engaged by the company.

iOS is a trademark or registered trademark of Cisco in the U.S. and other countries and is used under license.

Android is a trademark of Google Inc.

Thursday, September 27th, 2012 Uncategorized Comments Off on Local Corp. (LOCM) Set to Monetize Mobile in $2.7 Billion Mobile Advertising Market

Alvarion (ALVR) and Consortium of Partners Successfully Demonstrate BuNGee Project

Alvarion and Consortium of Partners Successfully Demonstrate BuNGee Project for Next Generation Mobile Networks

Alvarion®Ltd. (NASDAQ: ALVR), a global provider of optimized wireless broadband solutions addressing the connectivity, coverage and capacity challenges of public and private networks, today announced the successful completion of the BuNGee project following a final review meeting with the European Commission in Brussels. This is subsequent to a successful demonstration held in Tel Aviv in April 2012 showing the project’s main goals, including higher throughput, innovative deployment strategies and an economically viable business case.

BuNGee has been established with objectives to dramatically improve the overall infrastructure capacity density of the mobile network by tenfold, and at the same time, at a commercially viable cost – thereby removing the barriers to beyond next generation network deployments. Such a requirement for capacity density is driven mainly in urban areas where the number of users per square kilometer and the mobile data usage factor is dramatically growing. At the live demonstration, Alvarion and the consortium partners successfully demonstrated the project-developed high capacity radio cell prototype in a real urban mobile environment.

BuNGee (Beyond Next Generation Mobile Networks) is a European Commission Seventh Framework Programme (FP7) funded project for the research of innovative technologies and deployment topologies. The selected consortium for the project is comprised of a network operator, equipment and antenna vendors, research institutes, universities and a consulting firm who are committed to achieve the goals serving as a baseline for beyond next generation ultra-high capacity systems. Alvarion is the coordinator of this project with a leading role in designing the innovative system architecture.

“Viewing the live demonstration at Alvarion’s offices was the culmination of the project we envisaged,” states Alister Burr, Professor of Communications in the University of York and one of the BuNGee work package leaders. “The demonstration and the completion of the project mark a very significant step forward in the implementation of next generation wireless networks.”

The current next-generation technologies LTE and WiMAX support a mere 100 Mbps per square kilometer in a regular cellular deployment. In dense urban areas, where the market demand for wireless broadband access is the highest, the BuNGee project demonstrated a higher throughput of 1 Gbps per square kilometer. This demonstration was imperative in confirming a commercially viable solution for wide-scale uptake of next generation technologies.

The successful demonstration of BuNGee took place in a dense urban high-tech industrial park around Alvarion’s offices in Tel Aviv, Israel, on April 17, 2012, before reviewers on behalf of the European Commission, substantiating several fundamental goals in ultra-high capacity technology and designs:

  • High-capacity 4G mobile Radio Access Network (RAN) architecture that is cost-, spectrum- and energy- efficient
  • Ultra-dense below-rooftop radio network deployment, exploiting the concept of small cells and natural urban radio isolations
  • Joint design of access and backhaul networks using heterogeneous radio elements in licensed and license-exempt (LE) spectrum, including aggregation of in-band backhauling and broadband mmWave to address small cells backhauling issues
  • Innovative antenna technologies, such as Multi-beam antenna tailored to urban ultra-high capacity needs and advanced MIMO and interference elimination techniques, such as e.g. multi-beam antenna assisted MIMO
  • Co-operative technologies at a base station, cognitive radio, autonomous radio resource assignment and network technologies for reduced management and operational complexity

“Viewing the live demonstration at Alvarion’s office in April was the necessary proof-point for the successful close to this project,” states Oleg Marinchenco, BuNGee Project Coordinator from Alvarion. “With BuNGee, we have taken great steps in the implementation of next generation networks for the entire communications market.”

“We were pleased to act as the coordinator of this esteemed project and to host the interim review meetings and live demonstration at Alvarion’s premises,” states Mark Altshuller, CTO, BWA Division, Alvarion. “Alvarion has always been at the forefront of technology innovations and we are extremely proud to be part of this distinguished consortium that will deliver the next generation of mobile broadband to the market.”

Consortium members include: Alvarion (IL), ARTTIC (BE), Centre Tecnologic de Telecomunicacions de Catalunya (ES), Cobham Antenna Systems Microwave Antennas (UK), University of York (UK), Thales Communications & Security (FR), Universite Catholique de Louvain (BE), Polska Telefonia Cyfrowa (PL), Siklu Communication Ltd (IL).

Media Resources

European Commission, FP7, Next Generation Mobile Broadband, BuNGee,

Links

BuNGee Project web site: http://www.ict-bungee.eu/

BuNGee – Next Generation Mobile Broadband

European Commission FP7: http://cordis.europa.eu/fp7/home_en.html

About Alvarion

Alvarion Ltd. (NASDAQ: ALVR) provides optimized wireless broadband solutions addressing the connectivity, coverage and capacity challenges of telecom operators, smart cities, security, and enterprise customers. Our innovative solutions are based on multiple technologies across licensed and unlicensed spectrums. (www.alvarion.com)

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Alvarion’s management and are subject to various factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: our failure to fully implement our 2012 turnaround plan, our inability to reallocate our resources and rationalize our business in a more efficient manner, potential impact on our business of the current global macro-economic uncertainties, the inability of our customers to obtain credit to purchase our products as a result of global credit market conditions, the failure to fund projects under the U.S. broadband stimulus program, continued delays in 4G license allocation in certain countries; the failure of the products for the 4G market to develop as anticipated; our inability to capture market share in the expected growth of the 4G market as anticipated, due to, among other things, competitive reasons or failure to execute in our sales, marketing or manufacturing objectives; the failure of our strategic initiatives to enable us to more effectively capitalize on market opportunities as anticipated; delays in the receipt of orders from customers and in the delivery by us of such orders; our failure to fully and effectively integrate the business and technology of Wavion Inc., acquired by us in November 2011, into our products and realize the expected synergies from the acquisition; the failure of the markets for our (including Wavion’s) products to grow as anticipated; our inability to further identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenues; our inability to establish and maintain relationships with commerce, advertising, marketing, and technology providers; our inability to comply with covenants included in our financing agreements; our inability to raise sufficient funds to continue our operations, either through equity issuances or asset sales; and other risks detailed from time to time in the Company’s annual reports on Form 20-F as well as in other filings with the U.S. Securities and Exchange Commission.

Information set forth in this press release pertaining to third parties has not been independently verified by Alvarion and is based solely on publicly available information or on information provided to Alvarion by such third parties for inclusion in this press release. The web sites appearing in this press release are not and will not be included or incorporated by reference in any filing made by Alvarion with the U.S. Securities and Exchange Commission, which this press release will be a part of.

To receive Alvarion’s press releases please contact Sivan Farfuri, sivan.farfuri@alvarion.com or +972.3.767.4333. Please see the Investor section of the Alvarion website for more information: http://www.alvarion.com/investors.

Alvarion®, its logo and certain names, product and service names referenced herein are either registered trademarks, trademarks, trade names or service marks of Alvarion Ltd. in certain jurisdictions. All other names are or may be the trademarks of their respective owners.

Thursday, September 27th, 2012 Uncategorized Comments Off on Alvarion (ALVR) and Consortium of Partners Successfully Demonstrate BuNGee Project

AspenBio (APPY) Plans to Initiate Pivotal Study in Fourth Quarter

FDA Meeting Held; Advancing Toward Commercialization in U.S. and EU Clinical and Business Update Conference Call Scheduled Today at 8:30 a.m. ET

CASTLE ROCK, Colo., Sept. 27, 2012 /PRNewswire/ — AspenBio Pharma, Inc. (Nasdaq: APPY), an in vitro diagnostic company, today provided its shareholders and the broader investment community with an update on its clinical and business activities.  The Company announced that it plans to initiate a pivotal study in the fourth quarter of 2012 for its blood-based appendicitis test designed to assist emergency room clinicians in ruling out acute appendicitis.  The Company is moving ahead with its plans following its recent productive meeting with the U.S. Food and Drug Administration (“FDA”).  In addition to seeking approval in the U.S., the Company plans to obtain CE Mark before the end of the year and to introduce the product in Europe shortly thereafter.

Steve Lundy, President and CEO of AspenBio, stated, “We are very pleased with the recent progress we have made in executing on our key development objectives.  Most importantly, after meeting with the FDA, we plan to initiate our pivotal study in the U.S. during the fourth quarter.  We are currently modifying the study protocol in accordance with the FDA’s constructive feedback, and we continue to engage hospitals across the U.S. for participation in our study.  In parallel, we are preparing to launch the product in Europe once we obtain a CE Mark, which we anticipate receiving during the fourth quarter.”

In addition to the Company’s clinical advancements, AspenBio announced that progress continues for its out-licensed animal health assets.  To date, cumulative consideration achieved under the exclusive license agreement is approximately $1.3 million, including license fees and milestone payments.

Finally, the Company outlined strategic changes designed to further position AspenBio for success.  The Board of Directors is being restructured in alignment with the strategic focus of the Company and certain board members have stepped down voluntarily from their positions.  These Board members are Greg Pusey, Doug Hepler, Mark Ratain and Michael Merson.  AspenBio is in the process of identifying potential new board members with the desired skills, qualifications and experience to guide the Company’s refocused strategy, but ultimately intends to have a smaller sized Board.  Additionally, a rebranding of the Company is underway and is expected to include the evaluation of new company and product names, as well as associated logos.  The Company intends to propose a new company name later this year and such change will require shareholder approval.

Mr. Lundy concluded, “As we move ahead with a balance sheet strengthened by funding from our recent public offering and by the out-licensing of our animal health assets, we are confident that we have the capital resources to continue executing on our clinical and business objectives.  We believe we are taking important steps to position the Company strategically for our future as a successful commercial in vitro diagnostics company.”

Conference Call and Webcast Information

Interested participants and investors may access the conference call by dialing 800-860-2442 (U.S.); 866-605-3852 (Canada); or 412-858-4600 (international).  An audio webcast will be accessible via the Investors Relations section of the AspenBio web site, www.aspenbiopharma.com.

A telephonic replay of the call will be available for two weeks beginning at 9:30 a.m. ET on September 27, 2012.  Access numbers for this replay are 877-344-7529 (U.S./Canada) and 412-317-0088 (international); conference ID: 10018947.  The webcast replay will remain available in the Investors Relations section of the AspenBio web site for 30 days.

About AspenBio Pharma

AspenBio Pharma, Inc. is an in vitro diagnostic company focused on the clinical development and commercialization of its blood-based appendicitis test.  The unique appendicitis test has projected high sensitivity and negative predictive value and is designed to aid in the identification of patients at low risk for acute appendicitis, allowing for more conservative patient management.  The test is being developed initially for pediatric, adolescent and young adult patients with abdominal pain, as this population is at the highest risk for appendicitis and has the highest risk of long-term health effects associated with CT imaging.  For more information, visit www.aspenbiopharma.com.

Forward-Looking Statements

This press release includes “forward-looking statements” of AspenBio Pharma, Inc. (“AspenBio”) as defined by the Securities and Exchange Commission (“SEC”). All statements, other than statements of historical fact, included in this press release that address activities, events or developments that AspenBio believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors AspenBio believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of AspenBio. Investors are cautioned that any such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors, including our ability to successfully complete required product development and modifications in a timely and cost effective manner, complete clinical trial activities for the appendicitis test required for FDA submission, obtain FDA clearance or approval, complete and obtain CE Mark, cost effectively manufacture and generate revenues from the appendicitis test, execute agreements required to successfully advance the company’s objectives, retain the management team to advance the products, overcome adverse changes in market conditions and the regulatory environment, obtain and enforce intellectual property rights, and realize value of intangible assets. Furthermore, AspenBio does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the risk factors contained in AspenBio’s recent filings with the SEC, including its Final Prospectus filed on June 20, 2012.

For Investors & Media:

Joshua Drumm, Ph.D. / Jason Rando
Tiberend Strategic Advisors, Inc.
(212) 827-0020
jdrumm@tiberend.com
jrando@tiberend.com

Thursday, September 27th, 2012 Uncategorized Comments Off on AspenBio (APPY) Plans to Initiate Pivotal Study in Fourth Quarter

GlobalWise (GWIV) Announces Appointment of Kendall D. Gill to CFO

COLUMBUS, OH — (Marketwire) — 09/27/12 — GlobalWise Investments, Inc. (OTCBB: GWIV) (OTCQB: GWIV) (www.GlobalWiseInvestments.com) (“GlobalWise”) 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 announced the appointment of Kendall “Ken” D. Gill as Chief Financial Officer of GlobalWise, replacing Matthew L. Chretien in that role. Mr. Chretien remains a member of the Board of Directors of GlobalWise, in addition to remaining as the Executive Vice President, Chief Technology Officer and Treasurer of GlobalWise.

Mr. Gill brings over 40 years of experience in the fields of public accounting and finance, in addition to business development and various entrepreneurial endeavors. His prior roles include serving as Audit Manager at Coopers and Lybrand, where he also functioned as an accounting instructor at the Coopers and Lybrand National Schools throughout the United States. In addition, Mr. Gill has been CFO of companies within several different industries, including restaurant, automotive and chemical. Most recently, Mr. Gill has served as an accounting contractor to GlobalWise to assist in the transformation from a privately owned company to publicly held company.

“We are proud to announce Ken Gill as Chief Financial Officer of GlobalWise,” stated William J. “BJ” Santiago, CEO of GlobalWise. “Ken has a wealth of public accounting experience across a wide variety of sectors and disciplines. During the past 12 months, Ken, as an accounting contractor, has been a key part of meeting our accounting and financial responsibilities. Ken did a fantastic job in working with our legal, audit and SEC compliance teams to prepare us to enter the public market.”

“I am excited to formally join the GlobalWise team as CFO and to continue working with the senior management team,” said Ken Gill, CFO of GlobalWise.

In addition, Mr. Gill is a decorated US States Army officer, having served in Vietnam with the 173rd Airborne and acted as a senior advisor to the Vietnamese Airborne, Military and Government during the conflict.

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

Thursday, September 27th, 2012 Uncategorized Comments Off on GlobalWise (GWIV) Announces Appointment of Kendall D. Gill to CFO

EMCORE (EMKR) Awarded Solar Panel Manufacturing Contract by Orbital Sciences

EMCORE Awarded Solar Panel Manufacturing Contract by Orbital Sciences Corporation for the Ice, Cloud, and land Elevation Satellite-2 (ICESat-2) Mission

EMCORE Solar Panels Will Power ICESat-2 Spacecraft for the 2016 NASA Mission

ALBUQUERQUE, N.M., Sept. 26, 2012 (GLOBE NEWSWIRE) — EMCORE Corporation (Nasdaq:EMKR), a leading provider of compound semiconductor-based components and subsystems for the fiber optic and solar power markets, announced today that it has been awarded a solar panel manufacturing contract by Orbital Sciences Corporation for NASA’s Ice, Cloud, and land Elevation Satellite-2 (ICESat-2) mission targeted for launch in early 2016. Solar panels populated with EMCORE’s most advanced ZTJ triple-junction solar cells will power the ICESat-2 spacecraft manufactured by Orbital.

ICESat-2 builds on measurements taken by NASA’s original ICESat mission. ICESat was the benchmark Earth Observing System mission for measuring ice sheet mass balance, cloud and aerosol heights, as well as land topography and vegetation characteristics.  Data from ICESat, which was in orbit from 2003 to 2010, revealed thinning of the world’s ice sheets.  ICESat-2 will use precision laser-ranging techniques to measure the topography of the Greenland and Antarctic ice sheets and the thickness of sea ice.  For more information on ICESat-2, please visit http://icesat.gsfc.nasa.gov/icesat2/.

“This award for ICESat-2 continues the strong partnership between Orbital Sciences Corporation and EMCORE,” said Brad Clevenger, General Manager of EMCORE’s Photovoltaics Group. “Our proven manufacturing capability, technology leadership and solar panel reliability make EMCORE the supplier of choice for demanding spacecraft power systems.”

EMCORE is the world’s leading manufacturer of highly-efficient radiation-hard solar cells for space power applications.  With a Beginning-Of-Life (BOL) conversion efficiency nearing 30% and the option for a patented, onboard monolithic bypass diode, EMCORE’s industry-leading multi-junction solar cells provide the highest available power to interplanetary spacecraft and earth orbiting satellites.

About EMCORE

EMCORE Corporation offers a broad portfolio of compound semiconductor-based products for the fiber optics and solar power markets. EMCORE’s Fiber Optics business segment provides optical components, subsystems and systems for high-speed telecommunications, Cable Television (CATV) and Fiber-To-The-Premise (FTTP) networks, as well as products for satellite communications, video transport and specialty photonics technologies for defense and homeland security applications. EMCORE’s Solar Photovoltaics business segment provides products for space power applications including high-efficiency multi-junction solar cells, Covered Interconnect Cells (CICs) and complete satellite solar panels. For further information about EMCORE, visit http://www.emcore.com.

About Orbital Sciences Corporation

As the industry leader in small- and medium-class space and rocket systems, Orbital Sciences Corporation (NYSE:ORB) provides a complete set of reliable, cost-effective products including satellites for Geosynchronous Earth Orbit (GEO), communications and broadcasting, Low Earth Orbit (LEO) spacecraft that perform remote sensing and scientific research, spacecraft used for national security missions, and planetary probes to explore deep space. In addition, Orbital provides full service engineering, production and technical services for NASA, DoD, commercial and academic space programs. For more information on Orbital Sciences Corporation, please visit http://www.orbital.com/.

Forward–looking statements:

The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, any statement or implication that the contract described in this press release will be successfully completed. These forward-looking statements are based on management’s current expectations, estimates, forecasts and projections about EMCORE and are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated in the forward-looking statements. These risks and uncertainties include, but are not limited to, (a) the termination for convenience of the contract for the ICESat-2 mission, which is permitted by the terms of that contract, and (b) factors discussed in more detail in EMCORE’s SEC filings available at www.sec.gov, including under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Forward-looking statements contained in this press release are made only as of the date hereof, and EMCORE undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: EMCORE Corporation
         Navid Fatemi
         Vice President, Business Development
         (505) 332-5000
         navid_fatemi@emcore.com

         TTC Group
         Victor Allgeier
         (646) 290-6400
         vic@ttcominc.com
Wednesday, September 26th, 2012 Uncategorized Comments Off on EMCORE (EMKR) Awarded Solar Panel Manufacturing Contract by Orbital Sciences

Point.360 (PTSX) Announces $8.6 Million Of New Mortgage Financing

BURBANK, Calif., Sept. 26, 2012 /PRNewswire/ — Point.360 (NASDAQ: PTSX), a leading provider of integrated media management services, today announced that it had entered into two term loan agreements with Bank of the West (part of the BNP Paribas Group) to refinance mortgages on its Hollywood Way and Vine real estate.  The new mortgages provide for interest at LIBOR plus 3% (currently about 3.25%) and are payable based on a 25-year amortization due in 10 years.  The Company received a $337,000 discount for the early payoff of the prior Hollywood Way loan which will be recorded as other income in the quarter ending September 30, 2012.  The Company will also write off approximately $90,000 of deferred financing costs in the quarter associated with the prior Hollywood Way mortgage.

Haig S. Bagerdjian, the Company’s Chairman, President and Chief Executive Officer said: “Finalizing the new term loans completes a total refinancing package of $14.8 million.  While we have no amounts currently outstanding under the previously completed revolving and equipment loan facilities, annual interest savings on the two mortgages will be approximately $350,000 at today’s rates.”

About Point.360

Point.360 (PTSX) is a value add service organization specializing in content creation, manipulation and distribution processes integrating complex technologies to solve problems in the life cycle of Rich Media. With locations in greater Los Angeles, Point.360 performs high and standard definition audio and video post production, creates virtual effects and archives and distributes physical and electronic Rich Media content worldwide, serving  studios, independent producers,  corporations, non-profit organizations and governmental and creative agencies. Point.360 provides the services necessary to edit, master, reformat and archive clients’ audio and video content, including television programming, feature films and movie trailers. Point.360’s interconnected facilities provide service coverage to all major U.S. media centers.  The Company also rents and sells DVDs and video games directly to consumers through its Movie>Q retail stores.  See www.Point360.com and www.MovieQ.com.

Forward-looking Statements

Certain statements in Point.360 press releases may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include, without limitation, statements regarding potential availability of additional financing.   Please also refer to the risk factors described in the Company’s SEC filings, including its annual reports on Form 10-K.  Such statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from those expected or anticipated in the forward-looking statements.  The Company has no responsibility to update forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.

SOURCE Point.360

Wednesday, September 26th, 2012 Uncategorized Comments Off on Point.360 (PTSX) Announces $8.6 Million Of New Mortgage Financing

LRAD Corp. (LRAD) Receives LRAD 100X™ Order From US Air National Guard

SAN DIEGO, CA — (Marketwire) — 09/26/12 — LRAD Corporation (NASDAQ: LRAD), the world’s leading provider of long range acoustic hailing devices (AHDs), announced today it has received a new order from the United States Air National Guard for LRAD 100X systems. The order totals $550,000 and is scheduled to ship this quarter.

“With this order, LRAD systems will be in use by every major force of the Department of Defense,” remarked Tom Brown, president and CEO of LRAD Corporation. “The Air National Guard will be deploying the LRAD 100X systems throughout the country to support and assist civil authorities in the event of severe natural or man-made disasters. LRAD systems have proven highly effective in communicating warnings, instructions and commands over wide areas before, during, and in the aftermath of catastrophes.”

Self-contained and hand portable, the LRAD 100X is 20 – 30 decibels (dB) louder than most bullhorns and megaphones. Optimized driver and wave-guide technology ensure crystal clear voice communication so every syllable is understood over distances up to 600 meters. This extraordinary acoustic performance comes in a rugged package that can be operated in all weather conditions. Interfaces include a hardened microphone as well as a Mil-Spec media player designed for easy operation in demanding environments. The LRAD 100X is the world’s best solution for portable on-scene, emergency communications.

“Our proprietary LRAD systems are the most reliable AHDs available,” Brown added. “When disaster strikes, LRAD provides military and civilian emergency responders with One Voice to clearly communicate warnings and instructions to help keep the peace and save lives.”

About LRAD Corporation
LRAD Corporation is using long range communication to resolve uncertain situations peacefully and save lives on both sides of its proprietary Long Range Acoustic Device®. LRAD® systems are in service around the world in diverse applications including fixed and mobile military deployments, maritime security, critical infrastructure and perimeter security, commercial security, border and port security, law enforcement and emergency responder communications, asset protection and wildlife preservation and control. For more information about the Company and its LRAD systems, please visit www.lradx.com.

Forward-looking Statements: Except for historical information contained herein, the matters discussed are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on these statements. We base these statements on particular assumptions that we have made in light of our industry experience, the stage of product and market development as well as our perception of historical trends, current market conditions, current economic data, expected future developments and other factors that we believe are appropriate under the circumstances. These statements involve risks and uncertainties that could cause actual results to differ materially from those suggested in the forward-looking statements. These risks and uncertainties are identified and discussed in our filings with the Securities and Exchange Commission. These forward-looking statements are based on information and management’s expectations as of the date hereof. Future results may differ materially from our current expectations. For more information regarding other potential risks and uncertainties, see the “Risk Factors” section of the Company’s Form 10-K for the fiscal year ended September 30, 2011. LRAD Corporation disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.

Wednesday, September 26th, 2012 Uncategorized Comments Off on LRAD Corp. (LRAD) Receives LRAD 100X™ Order From US Air National Guard

AirMedia (AMCN) Increases Share Repurchase Program to US$40 million

BEIJING, Sept. 26, 2012 /PRNewswire/ — AirMedia Group Inc. (“AirMedia” or the “Company”) (Nasdaq: AMCN), a leading operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers, today announced that its board of directors has approved to increase the size of its previously announced share repurchase program to US$40 million from US$20 million and to extend the termination date of the share repurchase program to March 20, 2014 from March 20, 2013. The other terms of the share repurchase program will remain unchanged.

Under the expanded share repurchase program, AirMedia has been authorized, but not obligated, by its board of directors to repurchase a total of up to US$40 million worth of its own outstanding American Depositary Shares (“ADSs”) until March 20, 2014. As of September 23, 2012, AirMedia had repurchased an aggregate of 4,347,601 ADSs on the open market for a total consideration of US$13.1 million, and is now authorized to purchase up to US$26.9 million worth of additional ADSs under the expanded share repurchase program.

The expanded share repurchase program will allow the Company to make more sizable repurchases. The repurchases will be made on the open market at prevailing market prices pursuant to Rule 10b5-1, in negotiated transactions off the market, in block trades or otherwise from time to time. The timing and extent of any purchases will depend upon market conditions, the trading price of ADSs and other factors, and be subject to the restrictions relating to volume, price and timing in accordance with applicable law. AirMedia expects to implement this share repurchase program in a manner consistent with market conditions and the interests of its shareholders. AirMedia’s board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size accordingly. AirMedia plans to fund repurchases made under this program from its available cash balance.

“Our cash balance has been increasing since the year end of fiscal year 2010. Our decision to increase the size of our share repurchase program reflects our confidence in the business fundamentals and the long-term prospects of our company. The expanded share repurchase program also reiterates our commitment to maximizing shareholder value,” commented Herman Guo, chairman and chief executive officer of AirMedia.

About AirMedia Group Inc.

AirMedia Group Inc. (Nasdaq: AMCN) is a leading operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers. AirMedia operates the largest digital media network in China dedicated to air travel advertising. AirMedia operates digital frames in 33 major airports and digital TV screens in 35 major airports, including most of the 30 largest airports in China. In addition, AirMedia sells advertisements on the routes operated by nine airlines, including the four largest airlines in China. In selected major airports, AirMedia also operates traditional media platforms, such as billboards and light boxes, and other digital media, such as mega LED screens.

In addition, AirMedia has exclusive contractual concession rights until the end of 2014 to develop and operate outdoor advertising platforms at Sinopec’s service stations located throughout China.

For more information about AirMedia, please visit http://www.airmedia.net.cn.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” “believe,” “estimate,” “confident” and similar statements. Among other things, the quotations from management in this announcement contain forward-looking statements. AirMedia may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about AirMedia’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to: if advertisers or the viewing public do not accept, or lose interest in, our air travel advertising network, we may be unable to generate sufficient cash flow from our operating activities and our prospects and results of operations could be negatively affected; we derive most of our revenues from the provision of air travel advertising services, and any slowdown in the air travel advertising industry in China may materially and adversely affect our revenues and results of operations; our strategy of expanding our advertising network by building new air travel media platforms and expanding into traditional media in airports may not succeed, and our failure to do so could materially reduce the attractiveness of our network and harm our business, reputation and results of operations; if we do not succeed in our expansion into gas station and other outdoor media advertising, our future results of operations and growth prospects may be materially and adversely affected; if our customers reduce their advertising spending or are unable to pay us in full, in part or at all for a period of time due to an economic downturn in China and/or elsewhere or for any other reason, our revenues and results of operations may be materially and adversely affected; we face risks related to health epidemics, which could materially and adversely affect air travel and result in reduced demand for our advertising services or disrupt our operations; if we are unable to retain existing concession rights contracts or obtain new concession rights contracts on commercially advantageous terms that allow us to operate our advertising platforms, we may be unable to maintain or expand our network coverage and our business and prospects may be harmed; a significant portion of our revenues has been derived from the five largest airports and three largest airlines in China, and if any of these airports or airlines experiences a material business disruption, our ability to generate revenues and our results of operations would be materially and adversely affected; our limited operating history makes it difficult to evaluate our future prospects and results of operations; and other risks outlined in AirMedia’s filings with the U.S. Securities and Exchange Commission. AirMedia does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Contact:

Raymond Huang
Senior Director of Investor Relations
AirMedia Group Inc.
Tel: +86-10-8460-8678
Email: ir@airmedia.net.cn

Wednesday, September 26th, 2012 Uncategorized Comments Off on AirMedia (AMCN) Increases Share Repurchase Program to US$40 million

Court Rules in Favor of Life Partners (LPHI)

Company’s Life Settlements Ruled Not Securities; Previously Declared Dividend to be Paid

Life Partners Holdings, Inc. (Nasdaq GS: LPHI), parent company of Life Partners, Inc., announced today that Travis County District Judge Stephen Yelenosky ruled that the life settlement transactions that it facilitates are not securities under Texas law. Although subject to appeal, the ruling effectively ends the Texas Attorney General’s suit against Life Partners, which had asserted that the 21-year-old company’s life settlement transactions were securities under Texas law. In making its ruling, the Court denied all relief sought by Texas Attorney General Greg Abbott which includes an end to a temporary restraining order which will permit Life Partners to pay the $0.10 dividend it had previously declared to shareholders of record as of September 3, 2012. The court made the ruling after a two-day evidentiary hearing.

Life Partners CEO, Brian Pardo, expressed gratitude for the integrity of the judicial system. “The Attorney General brought this case knowing that both a Federal Court of Appeals and a Texas appeals court have ruled specifically that Life Partners’ life settlements are not securities. The Attorney General has issued inflammatory press releases and used this suit as a vehicle to make baseless claims of fraud, insolvency and a lack of regulation. None of that is true. We have been in business for 20 years. We have facilitated over 143,000 purchaser transactions involving over 6,500 policies totaling over $3 billion in face value.”

Pardo went on to say, “Notwithstanding the Attorney General’s unfounded allegations, the truth is that Life Partners Holdings is a publicly held company with over $40 million in assets, over $10 million in cash and no debt. Our subsidiary, Life Partners, Inc., provides a valuable financial option to seniors who want to sell their life policies as well as to accredited investors looking for alternative investments. In fact, since the start of our fiscal year in March, we have seen over $40 million paid to owners of life settlements that were transacted through our company. We do not defraud or deceive anyone. Life Partners is licensed as a viatical and life settlement company by the Texas Department of Insurance, with whom we file our transaction documents, make certain disclosures to insureds and sellers, file annual reports, and abstain from unfair business practices. The Attorney General’s mischaracterization of our business was a disservice to the purchasers of our life settlements and to our shareholders who were damaged by this abuse of power.”

Visit our website at: www.lphi.com.

Wednesday, September 26th, 2012 Uncategorized Comments Off on Court Rules in Favor of Life Partners (LPHI)

Tegal (TGAL) Receives Shareholder Approval to Change Corporate Name to CollabRx, Inc.

Tegal Corporation (NASDAQ: TGAL) today announced shareholder approval of an amendment to its Certificate of Incorporation changing its corporate name to CollabRx, Inc. Tegal obtained shareholder approval of the name change at its annual meeting today.

CollabRx stock will begin trading Thursday, September 27, 2012 on the Nasdaq Stock Market under the symbol, CLRX. The corporate name and trading symbol change follows the July 12, 2012, closing of a transaction in which Tegal acquired CollabRx, Inc., a privately held technology company in the rapidly growing market of interpretive content and data analytics for genomics-based medicine.

The Chief Executive Officers of the two constituent companies, Thomas Mika of Tegal and James Karis of CollabRx, serve as co-CEOs of the combined, publicly traded company, with headquarters in San Francisco, CA. Mr. Mika continues to be Chairman of the company.

Shareholders today approved the election of Messrs. Mika and Karis, as well as Tegal directors Gilbert Bellini, Jeffrey M. Krauss and Carl Muscari, to one-year terms as members of the CollabRx Board of Directors. Shareholders today also ratified the appointment of Burr, Pilger & Mayer LLP as the company’s Independent Registered Public Accounting Firm for the fiscal year ending March 31, 2013.

The corporate name change will not affect the validity or transferability of any currently outstanding stock certificates. It is not necessary for shareholders with certified shares to surrender or exchange any stock certificates they currently hold as a result of the corporate name change.

CollabRx offers cloud-based expert systems that provide clinically relevant interpretive knowledge to institutions, physicians, researchers and patients for genomics-based medicine in cancer and other diseases to inform health care decision making. With access to approximately 50 clinical and scientific advisors at leading academic institutions and a suite of tools and processes that combine artificial intelligence-based analytics with proprietary interpretive content, the company is well positioned to participate in the $300 billion value-added “big data” opportunity in the US health care market (as reported by McKinsey Global Institute), over half of which specifically targets areas in cancer and cancer genomics.1

CollabRx content is dynamically updated and organized in a knowledgebase that includes information on molecular diagnostics, medical tests, clinical trials, drugs, biologics and other information relevant for cancer treatment planning. Capturing how highly respected practicing physicians use this information in the clinical setting further refines the knowledgebase.

“The publicly traded CollabRx is a technology leader informing the next generation of health care,” said Mr. Mika. “CollabRx uses information technology to aggregate and contextualize the world’s knowledge on genomics-based medicine with specific insights from the nation’s top cancer experts – and we are starting with the area of greatest need: advanced cancers in patients who have effectively exhausted the standard of care. We gratified that our shareholders, partners and clients are so supportive of our mission.”

CollabRx, Inc.

CollabRx is a recognized leader in “cloud-based” expert systems to inform health care decision-making. CollabRx uses information technology to aggregate and contextualize the world’s knowledge on genomics-based medicine with specific insights from the nation’s top cancer experts starting with the area of greatest need: advanced cancers in patients who have effectively exhausted the standard of care. More information may be obtained at www.collabrx.com.

Safe Harbor Statement

This press release contains forward-looking statements that may include statements regarding the intent, belief or current expectations of Tegal, CollabRx and their respective management. Forward looking statements include statements about the benefits and advantages of the acquisition for Tegal and CollabRx. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of important factors, including but not limited to the risk that the acquisition will not close as the transaction is subject to certain closing conditions. In addition, if and when the transaction is closed, there will be risks and uncertainties related to Tegal’s ability to integrate CollabRx successfully, the risk that the anticipated benefits from the acquisition may not be fully realized or may take longer to realize than expected; and competition and its effect on the combined company’s performance. Additional factors that may affect future results are contained in the SEC filings for Tegal, including but not limited to Tegal’s Annual Report on Form 10-K for the year ended March 31, 2012. Tegal and CollabRx each disclaim any obligation to update and revise statements contained in this release based on new information or otherwise.

1 “Big data: The next frontier for innovation, competition and productivity”, McKinsey Global Institute, May 2011

Tuesday, September 25th, 2012 Uncategorized Comments Off on Tegal (TGAL) Receives Shareholder Approval to Change Corporate Name to CollabRx, Inc.

Dejour Energy (DEJ) Successfully Drills Initial Kokopelli Well to 8440’

Dejour Energy, Inc. (NYSE MKT: DEJ / TSX: DEJ) announces today that the first well at its 72% owned Kokopelli project in the Piceance Basin, Colorado directionally drilled to total depth 8440 feet, just below the base of the Rollins Formation has encountered formation quality and gas column thickness similar to other recently drilled wells in the immediate area. The 2500′ of gross gas column, depth and composition of formations encountered were as expected. The target zone in the Lower Mesa Verde Formation is comprised of sands, silts, shale and coals typical of other wells recently drilled in the Kokopelli Field. The well has been cased to total depth in preparation for completion operations.

Completion operations, including perforating, fracturing and production tie-in are expected to be completed during Q4 2012. Successful completion of this well secures for Dejour the substantial portion of the proven and probable undeveloped reserves, ~200 BCFe including ~12MM barrels of liquids net to Dejour, attributed to the Williams Fork section of this Kokopelli leasehold by independent engineers.

As previously reported this 2,200 acre project is ideally situated for exploitation of both the Williams Fork and Mancos hydrocarbon laden shale bodies immediately adjacent to Williams Energy (NYSE: WPX) and Bill Barrett Corporation (NYSE: BBG) who are developing and producing their respective leaseholds to the east, west and north of the Company’s acreage. Dejour USA has worked closely with important constituents including local citizenry and government, the Bureau of Land Management and the Colorado Division of Wildlife to develop a mutually acceptable development plan for this environmentally sensitive area. Construction of the first drill pad commenced in Q4 2011 with production expected to begin in Q4 2012, as originally planned. According to National Instrument 51-101 standard in Canada, the reserves evaluation report for Dejour’s leases at Kokopelli Field effective December 31, 2011, performed by Gustavson and Associates of Boulder, Colorado, projects the before tax discounted net present value 10% (NPV10) of proved undeveloped (PUD) reserves valued at $94 million and proven plus probable undeveloped (2P) reserves valued at $202 million net to Dejour in the Lower Mesa Verde Formation.

“We are pleased to report the drilling success of the Dejour Federal 6/7 well at Kokopelli. This is the culmination of three years of extensive preparation work and it is very satisfying to begin the process of developing the revenue stream at Kokopelli to benefit all of our stakeholders,” stated Harrison Blacker, President and COO.

About Dejour

Dejour Energy Inc. is an independent oil and natural gas exploration and production company operating projects in North America’s Piceance Basin (approximately 140,000 net acres) and Peace River Arch regions (approximately 11,000 net acres). Dejour’s seasoned management team has consistently been among early identifiers of premium energy assets, repeatedly timing investments and transactions to realize their value to shareholders’ best advantage. Dejour maintains offices in Denver, USA, Calgary and Vancouver, Canada. The company is publicly traded on the New York Stock Exchange MKT (NYSE MKT: DEJ) and Toronto Stock Exchange (TSX: DEJ).

The TSX does not accept responsibility for the adequacy or accuracy of this news release.

Follow Dejour Energy’s latest developments on:

Facebook http://facebook.com/dejourenergy and Twitter @dejourenergy

Tuesday, September 25th, 2012 Uncategorized Comments Off on Dejour Energy (DEJ) Successfully Drills Initial Kokopelli Well to 8440’

Nexxus Lighting (NEXS) Closes $6M Aston Capital Investment, Settles Philips Patent Litigation

Nexxus Lighting Closes $6 Million Investment by Aston Capital

Debt Extinguished, Patent Litigation Settled

CHARLOTTE, N.C., Sept. 25, 2012 /PRNewswire/ — Nexxus Lighting, Inc. (NASDAQ Capital Market: NEXS) today announced that it has completed the previously announced $6 million equity investment by Aston Capital, LLC, a private investment company specializing in investments in secure military communication companies and companies with green technologies.

“This investment evidences our belief that the market for LED lighting which provides significant savings in energy consumption and operating costs is an exciting market that is expected to grow rapidly.  According to market research, the market for LED lighting products will grow at 30% CAGR reaching approximately $80 billion dollars by 2020.  Nexxus Lighting is our initial platform in this space.  Our plans include providing Nexxus with a revolutionary and complementary product line that will enable the company to address a broader and much larger market opportunity in commercial, industrial and municipal lighting.  We also plan to invest in new technology and assisting the company in channel expansion in order to drive large scale adoption,” stated Robert LaPenta, Chairman and CEO of Aston Capital.  “With great products, unique customer programs and excellent service, we believe that Nexxus has the potential to be a major force in this lighting revolution.”  The company intends to provide additional details in the coming weeks regarding the new products.

The Company has issued 600,000 shares of newly-created Series B Convertible Preferred Stock to an affiliate of Aston Capital.  The preferred stock is convertible into 46,153,846 shares of the Company’s common stock, or approximately 73% of the Company’s outstanding common stock on an as-converted basis, at a conversion price per share equal to $0.13, subject to certain anti-dilution adjustments.  The conversion price was the closing price of the Company’s common stock on August 2, 2012, the date the Company entered into the letter of intent with respect to the transaction.  The preferred stock represents approximately 73% of the outstanding voting stock of the Company on an as-converted basis.

The proceeds from the transaction were used to extinguish approximately $2.5 million of existing short term debt at a discount, to fund the settlement payment in connection with the settlement of the previously announced patent litigation brought by Royal Philips Electronics, to pay the fees and expenses in connection with the transaction and for working capital purposes.  With respect to the extinguished debt, approximately $2.5 million in indebtedness represented by promissory notes maturing in June 2013 was cancelled and exchanged for a total of $880,000 in cash and 1,000,000 newly-issued shares of the Company’s common stock.

In connection with the investment by Aston Capital, the Company has accepted the resignations of existing Board members Michael Bauer, Edgar Protiva, Chris Richardson and William Yager.  Aston has the right to appoint a majority of the directors to the Company’s Board.

Aston Capital, LLC leadership has been involved in growing successful enterprises in both the high tech military and commercial arena.  Aston is expected to provide strategic, operational and financial expertise with the goal of enabling the Company’s strategic growth and expansion.  Aston’s investment philosophy combines sound fundamental operating principles with the ability to identify macroeconomic trends and provide strategic and operational support to management teams with the objective of accelerating global growth and building market leaders and shareholder value over the course of the partnership.  Aston believes significant value can be built through its partnership with Nexxus by acquiring complementary assets, and through operational and financial improvements, product line enhancements and expansion of global reach and brand awareness. Aston believes that the LED lighting market is a large and growing nascent market with diverse end-users with avenues to create value.  Aston’s goal is to build a dynamic market leader who will be able to address the significant global demand for this critical technology.

For copies of the definitive agreements relating to the transaction, as well as information on related developments, please review our current and future reports on file with the Securities and Exchange Commission and available at www.sec.gov.

Nexxus Lighting, Inc. Life’s Brighter!™

For more information, please visit the new Nexxus Lighting web site at www.nexxuslighting.com

Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Reference is made to Nexxus Lighting’s filings under the Securities Exchange Act for factors that could cause actual results to differ materially. Nexxus Lighting undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.  Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements.

SOURCE Nexxus Lighting, Inc.

Nexxus Lighting And Philips Settle Patent Litigation

CHARLOTTE, N.C., Sept. 25, 2012 /PRNewswire/ — Nexxus Lighting, Inc. (NASDAQ: NEXS), a market leading manufacturer of LED light bulbs and lighting systems, today announced a settlement agreement ending the pending patent litigation brought by Royal Philips Electronics (NYSE:PHG, AEX: PHI), a world leader in LED lighting technology.

In connection with the settlement and patent license agreement:

  • Philips will grant Nexxus Lighting an ongoing, royalty-bearing license to the comprehensive portfolio of patented LED technologies and solutions offered under Philips’ LED luminaire and retrofit bulb licensing program. The license allows Nexxus to continue the manufacture and sale of LED-based lighting products, including the Array® brand of LED replacement light bulbs.
  • Nexxus will also pay Philips a one-time, lump-sum royalty fee to address past sales.
  • Both parties will dismiss the lawsuit Philips initiated and presently pending in Massachusetts federal court.

“The opportunity for creating, developing and selling creative new LED lighting systems is expanding rapidly and we believe that combining access to the Philips portfolio of intellectual property with our own patented technology will give Nexxus Lighting a tremendous platform from which to penetrate the growing lighting market,” stated Mike Bauer, President and CEO of Nexxus Lighting.  “We are pleased we could come to mutually agreeable terms and can now refocus our business on the large growth opportunities we see for LED lighting.”

About Nexxus Lighting, Inc.

Nexxus is a leader in high performance LED replacement light bulbs and LED linear lighting solutions sold under its Array® Lighting and Lumificient product lines.  The company holds 43 issued U.S. and foreign patents and has 30 patent applications pending.  Nexxus is committed to leading edge design and introducing LED products that set the standard in the industry in terms of performance and reliability.
For more information, please visit the new Nexxus Lighting web site at www.nexxuslighting.com.

All other trademarks mentioned are the property of their respective owners.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Royal Philips Electronics or Nexxus Lighting, Inc.  businesses that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements involve risks and uncertainties, are only predictions and may differ materially from actual future events and results. For a discussion of such risks and uncertainties, see “Risk Factors” in the companies’ Annual Reports on Form 10-K for the twelve months ended December 31, 2011, and most recent Form 10-Qs,each as filed with the Securities and Exchange Commission.

SOURCE Nexxus Lighting, Inc.

Tuesday, September 25th, 2012 Uncategorized Comments Off on Nexxus Lighting (NEXS) Closes $6M Aston Capital Investment, Settles Philips Patent Litigation

Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Peregrine (PPHM)

NEW YORK, Sept. 25, 2012 /PRNewswire/ — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Peregrine Pharmaceuticals, Inc. (“Peregrine” or the “Company”) (NasdaqCM:  PPHM -News), concerning potential violations of federal securities laws.

Shares of Peregrine fell over 75% after the company released a statement on Monday disclosing that major discrepancies were discovered between patient sample test results and patient treatment code.  The discrepancy was made while reviewing trial data in preparation for a meeting with the U.S. Food and Drug Administration. According Peregrine, any data released on or before September 7, 2012, from its Phase II bavituximab trial in patients with second-line non-small cell lung cancer or any presentations or other documents related to this Phase II trial could be inaccurate.

If you are aware of any facts relating to this investigation, or purchased shares of Peregrine, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
eitan@bgandg.com

Tuesday, September 25th, 2012 Uncategorized Comments Off on Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Peregrine (PPHM)

Cogo (COGO) Announces Current Status of the Proposed Subsidiary Acquisitions

Cogo Announces Current Status of the Proposed Acquisition of Certain Cogo Subsidiaries by Chairman and CEO Jeffrey Kang

SHENZHEN, China, Sept. 24, 2012 /PRNewswire/ — Cogo Group, Inc. (NASDAQ: COGO) Cogo, one of the leading gateways for global semiconductor companies to access the industrial and technology markets in China, today announced the current status of the proposal by its CEO and Chairman, Jeffrey Kang, through his personal investment vehicle, Envision Global Group (“Envision”), to purchase certain Company subsidiaries[i] representing approximately 30% of the Company’s total assets, liabilities and business operations.  The Audit Committee continues to conduct due diligence to understand the legal and accounting ramifications in the many different jurisdictions involved.

However, the material terms are anticipated to be as follows:

  • Total consideration will be $78 million, which will be paid in two installments, $10 million at closing and an additional $68 million on or before December 31, 2012.
  • In the event the second installment payment is not made, title to the target companies will be transferred back to Cogo.
  • Cross guarantees to banking institutions among the companies will be maintained, subject to approval by applicable banks, in order to maintain better financing terms for all the companies.

Additionally, since Cogo is not currently in possession of any material insider information, it can begin executing a stock buyback program for Cogo shares on the open market pursuant to a 10b5-1 plan it has put in place with its broker.  In May 2012, at the company’s Annual General Meeting, Cogo shareholders authorized a 10 million-share buyback program.  Given that Cogo shares trade at approximately 30% of Tangible Book Value (“TBV”) as reported at the end of the second quarter of 2012, the Company believes that a buyback program is a prudent use of cash.

Consistent with prior publicly reported figures, Envision would have gross margins in the range of 5-6%, which is below the 7.1% gross margins reported for all of Cogo in the second quarter of 2012. Additionally, Envision would currently constitute approximately 25-30% of total Cogo revenue.

Envision will operate independently from Cogo.  Both Cogo and Envision will make reasonable efforts to maintain the operations of Envision in the ordinary historical course consistent with past practices and to preserve its relationships with its major customers, suppliers and others having business dealings with the Cogo.

Mr Kang commented, “I believe this transaction is the most effective way to achieve multiple goals, including maximizing shareholder value.  First, this helps to validate Cogo’s significant financial assets.  At the end of the second quarter of 2012, the estimated TBV for Cogo was well over $6.00 a share, which is more than triple our current market capitalization. Second, the logistics of the sale should not disrupt any business operations and our plan going forward is intended to continue fulfillment of all commitments in a seamless manner. Guaranteeing that these relationships and commitments will not be negatively affected by this transaction is a critical element for me.”

Mr Kang commented, “I anticipate very little, if any business or end market overlap, between Cogo and Envision.   Although the two entities may initially target similar end markets and customers, Cogo and Envision will utilize different products from different suppliers, and, therefore, we thus see limited, if any, business competition between the two entities.   We expect each entity to continue to grow its business, continuing to service its customers and generate solid operating profit even in these uncertain macro-economic conditions.”

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 2,100 Chinese OEMs/ODMs. Cogo’s customer list includes over 100 blue-chip companies, including ZTE, BYD and NARI, as well as nearly 1,900 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 growth strategy such as growth in digital media, telecommunications and industrial applications businesses, as well as our potential acquisitions 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.

[i] The subsidiaries to be acquired are as follows:-

(1) Comtech (China) Holding, including its direct and indirect subsidiaries- Comtech Communication Technology (Shenzhen) Company Limited, Comtech Communication Technology (Hong Kong) Company Limited and Comtech Software Technology (Shenzhen) Company Limited but excluding its direct and indirect subsidiaries- Shenzhen Comtech International Limited, Shanghai E&T System Company Limited, Chengdu Comtech Communication Technology Company Limited, Wuhan Comtech Communication Technology Company Limited, Hangzhou Mega Sky Communication Technology Company Limited, Nanjing Youyingjie Communication Technology Company and Shanghai Comtech Electronic Technology Company Limited;

(2) Comtech (HK) Holding, including its direct and indirect subsidiaries- Comtech International (HK) Company Limited and Hong Kong JJT Limited; and

(3) Alphalink Global Limited, including its direct subsidiary Epcot Multimedia Technology (Shenzhen) Limited but excluding its indirect subsidiary Beijing JJT Limited

SOURCE Cogo Group, Inc.

Monday, September 24th, 2012 Uncategorized Comments Off on Cogo (COGO) Announces Current Status of the Proposed Subsidiary Acquisitions

PURE Bioscience (PURE) Regains Compliance with Nasdaq Listing Requirements

PURE Bioscience, Inc. (NASDAQ: PURE), the creator of the patented silver dihydrogen citrate (SDC) antimicrobial, today announced it has regained compliance with Nasdaq listing requirements, and will continue trading on the Nasdaq Capital Market.

On September 21, 2012, the Company received a letter from the Nasdaq Listing Qualifications Staff stating PURE Bioscience, Inc. has regained compliance with the applicable minimum shareholders’ equity rule, as required by the Nasdaq Hearings Panel’s decision dated June 21, 2012, as modified on August 10, 2012 and September 11, 2012. The Staff also concluded that the Company is in compliance with all other applicable requirements set forth in such decision and required for listing on The Nasdaq Capital Market. Accordingly, the Nasdaq Hearings Panel has determined to continue the listing of the Company’s securities on The Nasdaq Stock Market and has closed this matter.

About PURE Bioscience, Inc.

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

Monday, September 24th, 2012 Uncategorized Comments Off on PURE Bioscience (PURE) Regains Compliance with Nasdaq Listing Requirements