Pirelli & C. Ambiente and Clean Diesel Technologies (CDTI) Form JV

VENTURA, Calif. and MILAN, Italy, Feb. 20, 2013 (GLOBE NEWSWIRE) — Pirelli & C. Ambiente SpA and Clean Diesel Technologies, Inc. (Nasdaq:CDTI) (CDTi) today announced the signing of an agreement to form a joint venture company to market and sell emissions control products for both gasoline and diesel applications in Europe and the CIS countries. The new joint venture company, Eco Emission Enterprise Srl, will be located in Milan, Italy, and is expected to begin operations in March 2013.

Through the joint venture, CDTi and Pirelli aim to consolidate their leadership in supplying solutions to control polluting emissions for the on-road and off-road heavy and light duty markets, both in the Original Equipment and After Market segments. In addition, the two companies intend to enhance the synergies deriving from the joint venture through eventual joint initiatives. The agreement entails the supply to the joint venture of silicon carbide substrates by Pirelli & C. Eco Technology RO (Romania) and emission control solutions by CDTi. Eco Emission Enterprise Srl, which will have an international management team, will operate as the commercial arm for both partners on the European market.

“We take great pride in forming a strategic joint venture with Pirelli, a globally-renowned multinational company with leading technologies and products,” said Craig Breese, Chief Executive Officer of CDTi. “The formation of the joint venture enhances our combined product portfolios and capabilities and aligns well with both companies’ business development strategy. This agreement expands and enhances CDTi’s presence in Europe and leverages Pirelli’s longstanding OEM relationships and rich history as a global leader in the European market, making them the perfect partner for CDTi.”

“With their high level of technological expertise and long experience in emissions’ control systems, CDTi is an ideal partner with whom to develop commercial initiatives for the distribution of our products. The joint venture is a first step and will allow us to develop important synergies and expand our markets of reference, as well offering our clients an ever more complete range of products with high level technological components,” said Giorgio Bruno, Chief Executive Officer of Pirelli & C. Ambiente.

CDTi is a vertically integrated global manufacturer and distributor of emissions control systems and products, focused on the heavy duty diesel and light duty vehicle markets. CDTi utilizes its proprietary patented Mixed Phase Catalyst (MPC®) technology, as well as its ARIS® selective catalytic reduction, Platinum Plus® fuel-borne catalyst, and other technologies to provide high-value sustainable solutions to reduce emissions, increase energy efficiency and lower the carbon intensity of on- and off-road engine applications. CDTi is headquartered in Ventura, California and currently has operations in the U.S., Canada, U.K., France, Japan and Sweden.

The CDTi logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5742

Pirelli & C. Ambiente S.p.A provides solutions for sustainable development in relation to energy production. This includes alternative combustion fuels such as CDR-P, a high quality combustible derived from solid urban waste, as well as photovoltaic and wind installations through its indirect holding in Greentech Energy Systems A/S. Pirelli & C. Eco Technology RO (Romania), develops and produces environmental solutions principally based on silicon carbide. Both companies are 100%-owned units of the Pirelli Group.

The Pirelli logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=17216

Forward-Looking Statements Safe Harbor. Certain statements in this news release, such as statements regarding future collaborations or joint initiatives, or the possibility of increased sales or market expansion, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known or unknown risks, including those detailed in CDTi’s filings with the U.S. Securities and Exchange Commission, uncertainties and other factors that may cause the actual results, performance or achievements of CDTi to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Neither CDTi nor Pirelli assume any obligation to update the forward-looking information contained in this release.

CONTACT: CDTi Investor Relations
         Tel. +1 (805) 639 9555
         ir@cdti.com
         www.cdti.com

         Pirelli Press Office
         Tel. +39 02 64424270
         pressoffice@pirelli.com

         Pirelli Investor Relations
         Tel. +39 02 64422949
         ir@pirelli.com
         www.pirelli.com

Vermillion (VRML) Reports Fourth Quarter and Full Year 2012 Results

AUSTIN, Texas, Feb. 20, 2013 /PRNewswire/ — Vermillion, Inc. (NASDAQ: VRML), a molecular diagnostics company focused on gynecologic cancers and women’s health, reported results for the fourth quarter and full year of 2012.

Q4 Financial and Operational Highlights

• In Q4, the volume of OVA1®, the company’s flagship diagnostic test designed to help differentiate benign from malignant ovarian masses, was in line with management’s forecast at approximately 4,260 tests. This brought the total tests performed in 2012 to 16,460, an increase of 8% over 2011.
• Gynecologic Oncology, the prestigious medical journal of the Society of Gynecologic Oncology, published the second prospective clinical study of OVA1®, which demonstrated the positive performance of the multi-biomarker test in the triage of early-stage ovarian cancer.
• Vascular Medicine, the online peer-reviewed journal, published Vermillion’s PAD study.
• Bruce A. Huebner was appointed interim chief executive officer after serving on a special Vermillion board committee that evaluates marketing strategies for OVA1. Mr. Huebner brings to the position more than 37 years of medical diagnostic industry experience and leadership.

Q4 and Full Year 2012 Financial Results
Total revenue in the fourth quarter of 2012 increased 32% to $1.1 million from $868,000 in the same year-ago quarter. Total revenue in the fourth quarter of 2012 was comprised of $1.0 million from product sales of OVA1 and $113,000 of license revenue related to the company’s achievement of certain milestones under its amended strategic alliance agreement with Quest Diagnostics.

Fourth quarter of 2012 product-related revenue was comprised of $213,000 from 4,260 OVA1 tests performed (at the fixed $50 per test) and $816,000 from the variable 33% royalty for 13,709 OVA1 tests reported by Quest Diagnostics which were resolved in 2012 (at $60 per resolved test). The resolved tests include both reimbursed and unreimbursed tests for which Quest Diagnostics considers the payment status as final.

By comparison, revenue in the fourth quarter of 2011 included $206,000 of product revenue from 4,118 OVA1 tests performed (at the fixed $50 per test), and $549,000 for the variable 33% royalty from 11,708 OVA1 tests reported by Quest Diagnostics as resolved in 2011 (at $47 per resolved test).

Total revenue for the full year 2012 increased 9% to $2.1 million from $1.9 million in 2011. Total revenue in 2012 was comprised of $1.6 million in product sales of OVA1 and $454,000 in license revenue. Product sales of OVA1 in 2012 include $824,000 from 16,460 OVA1 tests performed (at the fixed $50 per test) and $816,000 from the 33% royalty reported by Quest Diagnostics for 2012.

By comparison, revenue in 2011 included $1.5 million from product sales of OVA1 and $454,000 of license revenue. Product sales of OVA1 in 2011 were comprised of $761,000 from 15,225 OVA1 tests performed (at the fixed $50 per test), $549,000 from the 33% royalty reported by Quest Diagnostics for 2011, and $159,000 from the 33% royalties reported by Quest Diagnostics for 2010. The 2010 royalty was reported by Quest Diagnostics and recorded by the company in the first quarter of 2011.

Total operating expenses in the fourth quarter of 2012 decreased to $2.4 million from $3.9 million in the same year-ago quarter. Operating expenses for the full year 2012 decreased to $11.4 million from $19.4 million in 2011, primarily due to lower clinical trial costs for the ongoing development of the company’s ovarian cancer franchise and PAD program, as well as lower overall headcount and stock-based compensation charges compared to the prior year. Research and development expenses for the prior year also included $435,000 for the Correlogic asset acquisition.

Fourth quarter 2012 operating expenses included $496,000 in non-cash stock-based compensation expense, as compared to $314,000 in the same year-ago quarter. For the full year 2012, non-cash stock-based compensation expense was $1.3 million as compared to $3.3 million in 2011.

Net loss for the fourth quarter was $1.4 million or $(0.09) per share, as compared to $3.1 million or $(0.21) per share in the same year-ago quarter. Net loss for 2012 was $7.1 million or $(0.48) per share, as compared to $17.8 million or $(1.25) per share in 2011.

As of December 31, 2012, cash and cash equivalents totaled $8.0 million. The company utilized $2.4 million in cash in the fourth quarter in addition to the $5.9 million debt payment to Quest Diagnostics. The company expects cash utilization of $2.0 million to $2.5 million in the first quarter of 2013, and to incur cash-based operating expenses of approximately $9.5 million to $10 million for the full year 2013, or slightly less than the $10.1 million incurred in 2012.

Management Commentary
“We finished a productive year for Vermillion with Gynecologic Oncology publishing our OVA500 clinical study and thereby providing further strong validation of OVA1,” said Bruce A. Huebner, Vermillion’s interim chief executive officer. “We are using this publication to increase product awareness with gynecologists, ob/gyns and key thought leaders. Based upon our ongoing efforts, we expect the number of OVA1 tests performed will range between 4,250 and 4,550 in the first quarter of 2013.

“To further build awareness, we plan to submit two or three abstracts to various scientific meetings and peer-reviewed journals over the next two quarters.  We are very excited by these new analyses, especially the strong performance we have observed in pre-surgical triage of early-stage ovarian cancer and premenopausal women. In our opinion, the new publications will offer solid evidence that tests like OVA1 should be considered as a standard of care, in an update to professional guidelines by groups such as SGO and ACOG.

“In terms of increasing insurance coverage for OVA1, we are currently engaged in discussions with several national payers, including Humana, Aetna, Anthem (WellPoint), Cigna and United Healthcare, and we expect to add at least two national payers by the end of the year. Our biomarker panel helps to assess the likelihood of malignancy of an ovarian tumor before proceeding to surgery, and therefore facilitates decisions about referral to a gynecologic oncologist. While better diagnosis of ovarian cancer improves patient outcomes, it also lowers costs to insurance providers by minimizing or eliminating patient time spent in a hospital.

“Our long-anticipated CPT code became effective in January, with the test priced in the first year by CMS using their gap-fill process. CMS uses the gap-fill method when no comparable molecular diagnostic exists. Our Medicare reimbursement rate is $516 per test and our list price is $650 per test. We believe that we now have the ability to drive reimbursement at these price levels during the gap-fill process, and having a CPT code unique to OVA1 streamlines claims processing and strengthens our reimbursement position.

“We are receiving considerable interest from major hospitals and cancer centers that are looking to add OVA1 to their standard of care, and we are exploring the potential of implementing OVA1 testing in selected hospital labs.

“On the broader scope, we are seeking partners to develop current and new biomarker combinations to aid in the differential diagnosis and management of several gynecologic cancers, like ovarian, endometrial, cervical and uterine. Our strong clinical results, along with these unique opportunities, make Vermillion an attractive partner for IVD platform players or women’s health diagnostic franchises considering biomarker-based products.”

CEO Succession Plan
As previously announced, the company’s board has formed a succession committee of independent directors to oversee the process of identifying and selecting a permanent CEO. It has also retained a leading executive search firm with experience in CEO transitions to advise the board on potential candidates.

Conference Call and Webcast
Vermillion will hold a conference call to discuss its fourth quarter and full year financial results later today, Wednesday, February 20, 2013 at 4:30 p.m. Eastern time. Vermillion’s interim CEO Bruce A. Huebner will host the call, followed by a question and answer period.

Date: Wednesday, February 20, 2013
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Dial-In Number: 1-800-909-4761
International: 1-212-231-2934
Conference ID#: 21648726
Webcast: http://edge.media-server.com/m/p/e247e2q2/lan/en

The conference call will be webcast live and available for replay via the investor section of the company’s website at www.vermillion.com.

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Liolios Group at 1-949-574-3860.

A replay of the call will be available approximately two hours after the call through March 6, 2013.

Toll-free replay number: 1-800-633-8284
International replay number: 1-402-977-9140
Replay pin number: 21648726

About OVA1
OVA1 is a blood test for pre-surgical assessment of ovarian tumors for malignancy, using a unique multi-biomarker approach. In a published clinical trial, OVA1 achieved 99% sensitivity in detecting epithelial ovarian cancers (EOC). This included 96% sensitivity for stage I EOC, the earliest and most curable EOC stage, compared with 57% for the conventional biomarker CA125.(1) In addition, OVA1 found 70% of malignancies missed by non-specialist pre-surgical assessment,(1) and it increased detection of malignancy over ACOG guidelines from 77% to 94%.(2) As the first protein-based, In Vitro Diagnostic Multi-Variate Index Assay (IVDMIA) cleared by the FDA, OVA1 also represents a new class of software-based diagnostics.

About Vermillion
Vermillion, Inc. (NASDAQ: VRML) is dedicated to the discovery, development and commercialization of novel high-value diagnostic tests that help physicians diagnose, treat and improve outcomes for patients. Vermillion, along with its prestigious scientific collaborators, has diagnostic programs in oncology, vascular medicine and women’s health. Additional information about Vermillion can be found at www.vermillion.com.

Forward-Looking Statement:
Certain matters discussed in this press release contain forward-looking statements that involve significant risks and uncertainties, including statements regarding Vermillion’s plans, objectives, expectations and intentions. These forward-looking statements are based on Vermillion’s current expectations. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for such forward-looking statements. In order to comply with the terms of the safe harbor, Vermillion notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. Factors that could cause actual results to materially differ include but are not limited to: (1) uncertainty as to Vermillion’s ability to protect and promote its proprietary technology; (2) Vermillion’s lack of a lengthy track record successfully developing and commercializing diagnostic products; (3) uncertainty as to whether Vermillion will be able to obtain any required regulatory approval of its future diagnostic products; (4) uncertainty of the size of market for its existing diagnostic tests or future diagnostic products, including the risk that its products will not be competitive with products offered by other companies, or that users will not be entitled to receive adequate reimbursement for its products from third party payors such as private insurance companies and government insurance plans; (5) uncertainty that Vermillion has sufficient cash resources to fully commercialize its tests and continue as a going concern; (6) uncertainty whether the trading in Vermillion’s stock will become significantly less liquid; and (7) other factors that might be described from time to time in Vermillion’s filings with the U.S. Securities and Exchange Commission (SEC). All information in this press release is as of the date of this report, and Vermillion expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Vermillion’s expectations or any change in events, conditions or circumstances on which any such statement is based, unless required by law.

This release should be read in conjunction with the consolidated financial statements and notes thereto included in the company’s most recent reports on Form 10-K and Form 10-Q. Copies are available through the SEC’s Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov.

Investor Relations Contact:
Liolios Group, Inc.
Ron Both
Tel 1-949-574-3860
vrml@liolios.com

Elbit Imaging (EMITF) Announces Standard & Poor’s Maalot Changes Rating

Elbit Imaging Ltd. (“EI“ or the “Company“) (TASE, NASDAQ: EMITF) announced today, that Standard & Poor’s Maalot, has decided to change the rating of all of the Company’s Series A through Series G Notes and Series 1 Notes, which are traded on the Tel Aviv Stock Exchange, from an ‘ilCC/Watch Negative’ credit rating on credit watch, to an ‘D’ credit rating.

About Elbit Imaging Ltd.

Elbit Imaging Ltd. operates in the following principal fields of business: (i) Commercial and Entertainment Centers – Initiation, construction and sale of shopping and entertainment centers and other mixed-use real property projects, predominantly in the retail sector, located in Central and Eastern Europe and in India, primarily through its subsidiary Plaza Centers N.V. In certain circumstances and depending on market conditions, we operate and manage commercial and entertainment centers prior to their sale; (ii) U.S. Real Property – Investment in commercial real property in the United States; (iii) Hotels – Hotel operation and management; (iv) Medical Industries – (a) research and development, production and marketing of magnetic resonance imaging guided focused ultrasound treatment equipment and (b) development of stem cell population expansion technologies and stem cell therapy products for transplantation and regenerative medicine; (v) Residential Projects – Initiation, construction and sale of residential projects and other mixed-use real property projects, predominately residential, located primarily in India; (vi) Fashion Apparel – Distribution and marketing of fashion apparel and accessories in Israel; and (vii) Other Activity – venture capital investments.

Any forward-looking statements in our releases include statements regarding the intent, belief or current expectations of Elbit Imaging Ltd. and our management about our business, financial condition, results of operations, and its relationship with its employees and the condition of our properties. Words such as “believe,” “expect,” “intend,” “estimate” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Actual results may differ materially from those projected, expressed or implied in the forward-looking statements as a result of various factors including, without limitation, the factors set forth in our filings with the Securities and Exchange Commission including, without limitation, Item 3.D of our annual report on Form 20-F for the fiscal year ended December 31, 2011, under the caption “Risk Factors.” Any forward-looking statements contained in our releases speak only as of the date of such release, and we caution existing and prospective investors not to place undue reliance on such statements. Such forward-looking statements do not purport to be predictions of future events or circumstances, and therefore, there can be no assurance that any forward-looking statement contained our releases will prove to be accurate. We undertake no obligation to update or revise any forward-looking statements.

For Further Information:
Company Contact:
Shimon Yitzhaki
Chairman of the Board of Directors
Tel: +972-3-608-6048
shimony@elbitimaging.com

Investor Contact:
Mor Dagan
Investor Relations
Tel: +972-3-516-7620
mor@km-ir.co.il

Chelsea Therapeutics (CHTP) Receives FDA Guidance on Northera

• Company to Resubmit NDA in Late Second Quarter 2013
• Short-term Clinical Benefit Adequate to Support Approval
• Company to Host Conference Call Today at 9:00 AM ET

CHARLOTTE, N.C., Feb. 20, 2013 (GLOBE NEWSWIRE) — Chelsea Therapeutics International, Ltd. (Nasdaq:CHTP) today announced that it has received written guidance from the Director of the Office of New Drugs (“the Director”) at the U.S. Food and Drug Administration (FDA) stating that Study 306B has the potential to serve as the basis for a resubmission of a Northera™ (droxidopa) New Drug Application (NDA) for the treatment of symptomatic neurogenic orthostatic hypotension (NOH). The guidance is in response to a formal appeal by Chelsea to the Director, and follows a meeting with the Director and top staff from the Office of Drug Evaluation I and Division of Cardiovascular and Renal Products (DCRP) at the FDA’s Center for Drug Evaluation and Research.

The guidance suggests that “data strongly demonstrating a short-term clinical benefit (e.g., improvement in symptoms or ability to function) of droxidopa in patients with NOH would be adequate for approval, with a possible requirement to verify durable clinical benefit post-approval.” It further notes that any decision regarding the outcome of an FDA review, to be performed by the DCRP will be based on the strength of Study 306B and its ability to provide substantial evidence of effectiveness to support approval.

Based on this guidance, Chelsea plans to file a resubmission of the Northera NDA with the DCRP in the late second quarter of 2013. If accepted by the Division, the Company’s application will be subject to a 6-month review period.

“We appreciate and are encouraged by FDA’s willingness to consider data from Study 306B in evaluating Northera for the treatment of NOH, and look forward to submitting the totality of our clinical experience to date to the Agency for review,” said Joseph G. Oliveto, Interim Chief Executive Officer of Chelsea. “We now have a regulatory path forward, including the potential for an approval of Northera later this year.”

Chelsea also intends to initiate a new clinical trial in the fourth quarter of 2013, given guidance regarding the potential need for Chelsea to verify the durability of effect of Northera in a post-marketing study. This study would also include short-term clinical endpoints should the Agency require an additional clinical trial for the approval of Northera.

Chelsea recently reported that Study 306B demonstrated statistically significant improvements for Northera compared to placebo in dizziness/lightheadedness at week 1 (p=0.018), the primary endpoint, and increase in standing systolic blood pressure at week 1 (p=0.032), an important secondary endpoint. Treatment with Northera also resulted in a reduction in patient falls and fall-related injuries, also secondary endpoints, although the results were not significant. The safety data were consistent with previous studies, and showed that Northera was well tolerated.

Conference Call Today at 9:00 AM ET

Chelsea will host a conference call to discuss the guidance today, February 20, at 9:00 AM Eastern Time. Interested investors may participate in the conference call by dialing (877) 638-9567 (domestic) or (720) 545-0009 (international) and referencing conference ID number: 12612161. A replay will be available for one week following the call by dialing (855) 859-2056 for domestic participants or (404) 537-3406 for international participants and referencing conference ID number: 12612161 when prompted. Participants may also access both the live and archived webcast of the conference call on Chelsea’s web site at www.chelseatherapeutics.com.

About Northera

NORTHERA™ (droxidopa), the lead investigational agent in Chelsea Therapeutics’ pipeline, is currently in Phase III clinical trials for the treatment of symptomatic neurogenic orthostatic hypotension (NOH) in patients with primary autonomic failure – a group of diseases that includes Parkinson’s disease, multiple system atrophy (MSA) and pure autonomic failure (PAF). Droxidopa is a synthetic catecholamine that is directly converted to norepinephrine (NE) via decarboxylation, resulting in increased levels of NE in the nervous system, both centrally and peripherally.

About Chelsea Therapeutics

Chelsea Therapeutics (Nasdaq:CHTP) is a biopharmaceutical development company that acquires and develops innovative products for the treatment of a variety of human diseases, including central nervous system disorders. Chelsea is currently pursuing FDA approval in the U.S. for Northera™ (droxidopa), a novel, late-stage, orally-active therapeutic agent for the treatment of symptomatic neurogenic orthostatic hypotension in patients with primary autonomic failure. For more information about the Company, visit www.chelseatherapeutics.com

This press release contains forward-looking statements regarding future events including our intention to pursue the development of Northera. These statements are subject to risks and uncertainties that could cause the actual events or results to differ materially. These include reliance on key personnel and our ability to attract and/or retain key personnel, the risk that FDA will not agree that our clinical trial results demonstrate the safety and effectiveness of droxidopa, the risk that the FDA will not accept our proposal regarding any trial or other data to support a new drug application; the risk that we will not be able to resubmit the NDA for Northera and that the FDA will not approve a resubmitted NDA; the risk that our resources will not be sufficient to conduct any study of Northera that will be acceptable to the FDA; the risk that we cannot complete any additional study for Northera without the need for additional capital; the risks and costs of drug development and that such development may take longer or be more expensive than anticipated; our need to raise additional operating capital in the future; our reliance on our lead drug candidate droxidopa; risk that we will not be able to obtain regulatory approvals of droxidopa or our other drug candidates for additional indications; risk of volatility in our stock price, related litigation, and analyst coverage of our stock; reliance on collaborations and licenses; intellectual property risks; our history of losses; competition; market acceptance for our products if any are approved for marketing.

CONTACT: Investors:
         Fara Berkowitz / Susan Kim
         Argot Partners
         212-600-1902
         fara@argotpartners.com
         susan@argotpartners.com

         Media:
         David Pitts
         Argot Partners
         212-600-1902
         david@argotpartners.com

CUI Global, Inc. (CUI) Announces FY 2012 Financial Results

TUALATIN, Ore., Feb. 19, 2013 /PRNewswire/ — CUI Global, Inc. (NASDAQ: CUI), a platform company dedicated to the acquisition, development, and commercialization of new, innovative technologies, today announced year-end financial results for the year ended December 31, 2012.  The Company’s revenues for the year ended December 31, 2012 of $41,084,589 represent a 5.5% increase from the 2011 year ended revenues of $38,938,326. More significantly, the company reported year-end back orders of $14.15 million (unaudited) for FY 2012, up over 50% from FY 2011 back orders of $9.24 million (unaudited).

(Logo:  http://photos.prnewswire.com/prnh/20120320/FL72629LOGO)

In addition, the company reported a year-over-year quarter-to-quarter revenue increase of better than 35%; $11.9 million in fourth quarter 2012, compared to $8.8 million in fourth quarter FY 2011.  The company reported increased revenue on a quarter-to-quarter basis as well, up from $10.7 million in third quarter FY 2012.

For the third quarter in a row, the company decreased its quarterly Earnings Per Share (EPS) loss attributable to the year-to-date period from $0.04 per share in third quarter to a net loss of $0.02 per share in fourth quarter and a year-end loss of $0.25 per share.

Along with the above financial accomplishments, the company reached several other significant milestones in FY 2012, including, but not limited to the following:

• Completion of $13.5 million (net to the company) equity raise;
• Successful up-listing to the Nasdaq Capital Market;
• Retirement/termination of $8.1 million in short and long-term debt;
• Listing on the Wilshire 5000 Total Market Index;
• Listing on the Russell® Microcap Index;
• Inclusion in the MSCI Global Microcap Indices;
• Negotiation and signing of additional distribution relationship with Future Electronics;
• Industry recognition of its Novum® Technologies, including:
  • Winner Electronics Product Magazine Product of the Year Award;
  • Named one of EDN Top 100 Products of 2012;
  • Finalist Design News Golden Mousetrap Award;
  • Appearance at electronica 2012 trade show;
• Certification of the Vergence® GasPT2 Metering Device by Italian, Polish, UK, and Canadian authorities, along with the first substantial purchase order from its North American Distributor, EMC; and more.

William Clough, president & chief executive officer, stated, “These financial results and the other accomplishments we achieved in 2012 continue to demonstrate the effectiveness of our initiatives, including an enhanced sales channel, the elimination of significant debt, and the continued introduction and commercialization of our new products, including products based upon CUI Global’s proprietary technologies.”

“As our Vergence® Technology; our Novum® Digital Point-of-Load Technology; and our Solus® Technology come to market this year, coupled with the significant reduction in debt we accomplished in 2012, should both combine to put us in a position to see significant growth in revenue.  Our up-listing to the Nasdaq Capital Market in 2012, which has significantly broadened our shareholder base, should also enhance our ability to increase shareholder value in 2013,” Clough concluded.

About CUI Global, Inc.
Delivering Innovative Technologies for an Interconnected World . . . . .

CUI Global is a publicly traded platform company dedicated to maximizing shareholder value through the acquisition and development of innovative companies and technologies. From its Vergence GasPT2 platform targeting the energy sector, to its subsidiary CUI Inc.’s industry leading digital power platform targeting the networking and telecom industries, CUI Global has built a diversified portfolio of industry leading technologies that touch many markets. As a publicly traded company, shareholders are able to participate in the opportunities, revenues, and profits generated by the products, technologies, and market channels of CUI Global and its subsidiaries. CUI Global prides itself on operating with the same level of integrity, respect, and philanthropic dedication that was put in place by CUI Inc.’s founder more than 20 years ago. It is these values that allow the company to make a difference in the lives of their customers, their community, their employees, and their investors. Recently, a move was made to merge and streamline resources with its subsidiary CUI Inc. in order to create a unified, international brand that now positions CUI Global for further strategic expansion.

About CUI, Inc.

CUI Inc is a technology company dedicated to the development and distribution of electro-mechanical products. Their broad power and component product portfolios allow customers to address design challenges across a range of industries and applications. Built on a solid foundation of core operating principals, CUI seeks to maximize value for customers through their engineering, manufacturing, and supply chain capabilities. As an industry leader, CUI continues to invest in the future through new technologies, talented employees, expanded manufacturing capabilities, and a growing global reach.

For more information, please visit www.cuiglobal.com and www.cui.com.

Important Cautions Regarding Forward Looking Statements

This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the company and its operations, are included in certain forms the company has filed with the Securities and Exchange Commission.

Real Goods Solar (RSOL) Launches Shop.RealGoods.com, Offering Cost-Savings Solutions

LOUISVILLE, Colo., Feb. 19, 2013 (GLOBE NEWSWIRE) — Real Goods Solar, Inc. (Nasdaq:RSOL), a nationwide leader of turnkey solar energy solutions for residential, commercial, and utility customers, has launched Shop.RealGoods.com, a new online store offering the latest in solar power and environmentally-friendly solutions for both home and business.

The site can be accessed via the company’s main website at www.realgoods.com or directly at Shop.RealGoods.com. Shop.RealGoods.com features a wide range of solar kits and components, from personal solar power and off-grid solar kits, to full-scale turnkey solutions for large homes and small-to-medium sized commercial operations. Online shoppers can also access a range of sustainable living products, including solar-powered water systems for garden and agricultural use, energy-efficient and off-grid lighting, tools and appliances, as well as a unique selection of eco-friendly home maintenance products and supplies.

The site is also an essential resource for consumers seeking helpful information and education regarding the use of solar power and ‘going green,’ with a collection of reference books across a range of categories, from green and healthy lifestyles to renewable energy and how-to solar construction guides.

“Our new website builds upon our 35-year legacy of empowering consumers and business owners to reduce their energy costs and shrink their carbon footprint,” said John Schaeffer, who founded Real Goods in 1978 and is now leading the company’s growth initiatives in e-commerce sales, retail and distribution. “The site returns us to our roots of connecting consumers directly with a range of environmental products we’ve evaluated, and therefore can support and endorse. It expands upon our motto that ‘Education and Knowledge are our Most Important Products.'”

Real Goods Solar sold the very first solar modules in the U.S. in 1978. In the early years, prior to the company becoming a leading national solar player, Real Goods was engaged in grassroots efforts to bring solar and other environmental products directly to consumers via its brick-and-mortar stores and its popular Real Goods Catalog, with more than 30 million catalogs distributed in the Western Hemisphere. The catalog, a successor to the Whole Earth Catalog, quickly became the ‘bible’ for a new generation of consumers looking for self-sustaining and renewable energy solutions in the face of the emerging global energy crisis. Shop.RealGoods.com builds on this rich history and tradition.

Over the course of the year, the company plans to further build out Shop.RealGoods.com with a greater selection of solar lifestyle products and helpful information. This includes adding informative videos produced at the company’s world-renowned Solar Living Center, a 12-acre solar and ecological demonstration site and educational facility. The center was named as one of Northern California’s premier tourist sites by the American Automobile Association and other regional tour guides.

Shop.RealGoods.com will also serve as referral source to the company’s solar residential and commercial business units, which have installed more than 100 megawatts of solar power since their inception.

“We believe we are the only solar company in the country with more than three decades of continued commitment to solar living and delivering the grass roots environmental education that supports it,” noted Real Goods Solar CEO Kam Mofid. “The formation of our new e-commerce business unit and introduction of this new website complement our existing growth strategies by tapping the power and reach of the Internet, and the soaring growth of e-commerce.”

About Real Goods Solar and RGS Energy

Real Goods Solar, Inc. (RSOL) is one of the nation’s pioneering solar energy companies serving commercial, residential, and utility customers. Beginning with one of the very first photovoltaic panels sold in the U.S. in 1978, the company has installed more than 14,500 solar power systems representing over 100 megawatts of 100% clean renewable energy. Real Goods Solar makes it very convenient for customers to save on their energy bill by providing a comprehensive solar solution, from design, financing, permitting and installation to ongoing monitoring, maintenance and support. As one of the nation’s largest and most experienced solar power players, the company has 15 offices across the West and the Northeast. It services the commercial and utility markets through its RGS Energy division. For more information, visit RealGoodsSolar.com or RGSEnergy.com, or call (888)507-2561.

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

This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as “expect,” “intend,” “believe,” “will,” “should” or comparable terminology or by discussions of strategy. While Real Goods Solar believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Real Goods Solar’s filings with the Securities and Exchange Commission. Real Goods Solar assumes no duty to update any forward-looking statements.

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

Elbit Imaging (EMITF) to Suspend Interest Payments to All Note Holders

Elbit Imaging Ltd. (“EI“ or the “Company“) (TASE, NASDAQ: EMITF) announced today, further to its announcement dated February 5, 2013, that its Board of Directors had decided, after assessment of the Company’s current situation, taking into account the needs of the Company, the complexity of the negotiation process in reaching an agreement with all the relevant parties about a possible restructuring, and the divergent positions of various parties in respect to the payment of interest to the note holders, to currently suspend also the interest payments to all note holders, and to re-assess the situation as it develops from time to time.

About Elbit Imaging Ltd.

Elbit Imaging Ltd. operates in the following principal fields of business: (i) Commercial and Entertainment Centers – Initiation, construction and sale of shopping and entertainment centers and other mixed-use real property projects, predominantly in the retail sector, located in Central and Eastern Europe and in India, primarily through its subsidiary Plaza Centers N.V. In certain circumstances and depending on market conditions, we operate and manage commercial and entertainment centers prior to their sale; (ii) U.S. Real Property – Investment in commercial real property in the United States; (iii) Hotels – Hotel operation and management; (iv) Medical Industries – (a) research and development, production and marketing of magnetic resonance imaging guided focused ultrasound treatment equipment and (b) development of stem cell population expansion technologies and stem cell therapy products for transplantation and regenerative medicine; (v) Residential Projects – Initiation, construction and sale of residential projects and other mixed-use real property projects, predominately residential, located primarily in India; (vi) Fashion Apparel – Distribution and marketing of fashion apparel and accessories in Israel; and (vii) Other Activity – venture capital investments.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Any forward-looking statements in our releases include statements regarding the intent, belief or current expectations of Elbit Imaging Ltd. and our management about our business, financial condition, results of operations, and its relationship with its employees and the condition of our properties. Words such as “believe,” “would,” “expect,” “intend,” “estimate” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Actual results may differ materially from those projected, expressed or implied in the forward-looking statements as a result of various factors including, without limitation, the risk that creditors would take legal action against the Company, that an agreement relating to a possible restructuring of the Company will not be reached, that any proposed restructuring will not be approved by all the applicable stakeholders of the Company, the Court or others, that challenges by third parties or other events outside the control of the Company could delay the negotiations or the implementation of the restructuring and result in the termination thereof, and the factors set forth in our filings with the Securities and Exchange Commission including, without limitation, Item 3.D of our annual report on Form 20-F for the fiscal year ended December 31, 2011, under the caption “Risk Factors.” Any forward-looking statements contained in our releases speak only as of the date of such release, and we caution existing and prospective investors not to place undue reliance on such statements. Such forward-looking statements do not purport to be predictions of future events or circumstances, and therefore, there can be no assurance that any forward-looking statement contained our releases will prove to be accurate. We undertake no obligation to update or revise any forward-looking statements.

For Further Information:

Company Contact:
Shimon Yitzhaki
Chairman of the Board of Directors
Tel: +972-3-608-6048
shimony@elbitimaging.com

Investor Contact:
Mor Dagan
Investor Relations
Tel: +972-3-516-7620
mor@km-ir.co.il

F.N.B. Corp. (FNB) Enhances Greater Cleveland Presence with Acquisition of PVF Capital

HERMITAGE, Pa. and SOLON, Ohio, Feb. 19, 2013 /PRNewswire/ — F.N.B. Corporation (NYSE: FNB) and PVF Capital Corp. (NASDAQ: PVFC) jointly announce the signing of a definitive merger agreement pursuant to which F.N.B. Corporation will acquire PVF Capital Corp., the Solon-based holding company and parent of Park View Federal Savings Bank, in an all stock transaction valued at approximately $3.98 per share, or $106.4 million in the aggregate using the 20-day trailing stock price of F.N.B. Corporation as of Friday, February 15, 2013.

The acquisition of PVF Capital Corp. will provide F.N.B. Corporation with an additional $782 million in total assets, $634 million in total deposits, $600 million in gross loans and 16 banking offices in the Greater Cleveland, Ohio area. As a result of the transaction, F.N.B. Corporation will expand its Cleveland presence and have a top fifteen deposit market share in the Cleveland, Ohio metropolitan statistical area.

Under the terms of the merger agreement, which has been approved by the boards of directors of both companies, shareholders of PVF Capital Corp. will be entitled to receive 0.3405 shares of F.N.B. Corporation common stock for each common share of PVF Capital Corp. The exchange ratio is fixed and the transaction is expected to qualify as a tax-free exchange for shareholders of PVF Capital Corp.

“We are excited to expand our presence in the Cleveland market.  Cleveland’s close proximity to FNB’s existing footprint and the opportunities the market offers make this transaction very attractive,” said Vincent J. Delie, Jr., President and Chief Executive Officer of F.N.B. Corporation.  “With the addition of Park View, we believe we have significantly enhanced our ability to pursue commercial and consumer prospects in the greater Cleveland market and are looking forward to building our new partnership.”

“We are extremely pleased to join the FNB team,” said Robert J. King, Jr., President and Chief Executive Officer of PVF Capital Corp.  “This transaction delivers significant value to our shareholders, customers and employees.  FNB has a reputation for offering a diverse product set, serving its local communities and delivering attractive shareholder returns.”

F.N.B. Corporation expects the merger to be immediately accretive to earnings per share (excluding one-time costs).  Additionally, the transaction is expected to be accretive to F.N.B. Corporation’s tangible book value per share with a strong internal rate of return.

F.N.B. Corporation and PVF Capital Corp. expect to complete the transaction in the third quarter of 2013, after satisfaction of customary closing conditions, including regulatory approvals and the approval of the shareholders of PVF Capital Corp.

Keefe, Bruyette & Woods, Inc. acted as financial advisor to F.N.B. Corporation, and Sandler O’Neill + Partners, L.P. acted as financial advisor to PVF Capital Corp. and rendered a fairness opinion to the Board of Directors of PVF Capital Corp. in conjunction with this transaction. Reed Smith LLP served as legal counsel to F.N.B. Corporation and Vorys, Sater, Seymour and Pease LLP served as legal counsel to PVF Capital Corp.

An investor presentation will be available through the “Shareholder and Investor Relations” section of F.N.B.’s web site at www.fnbcorporation.com.

ADDITIONAL INFORMATION ABOUT THE MERGER AND WHERE TO FIND IT
F.N.B. Corporation will file a registration statement on Form S-4 with the SEC. The registration statement will include a proxy statement/prospectus and other relevant documents relating to the merger.

SHAREHOLDERS OF PVF CAPITAL CORP. ARE ADVISED TO READ THE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.

The proxy statement/prospectus and other relevant materials (when they become available), and any other documents F.N.B. Corporation and PVF Capital Corp. have filed with the SEC, may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents F.N.B. Corporation has filed with the SEC by contacting James Orie, Chief Legal Officer, F.N.B. Corporation, One F.N.B. Boulevard, Hermitage, PA 16148, telephone: (724) 983-3317, and free copies of the documents PVF Capital Corp. has filed with the SEC by contacting Jeffrey N. Male, Secretary, PVF Capital Corp., 30000 Aurora Road, Solon, OH 44139, telephone: (440) 248-7171.

F.N.B. Corporation and PVF Capital Corp. and certain of their directors and executive officers may be deemed to be participants in the solicitation of proxies from PVF Capital Corp. shareholders in connection with the proposed merger. Information concerning such participants’ ownership of PVF Capital Corp. common shares will be set forth in the proxy statement/prospectus relating to the merger when it becomes available. This communication does not constitute an offer of any securities for sale.

About F.N.B. Corporation
F.N.B. Corporation, headquartered in Hermitage, PA, is a diversified financial services company with total assets of $12.0 billion. F.N.B. Corporation is a leading provider of commercial and retail banking, leasing, wealth management, insurance, merchant banking and consumer finance services in Pennsylvania, Ohio and West Virginia, where it owns and operates First National Bank of Pennsylvania, First National Trust Company, First National Investment Services Company, LLC, F.N.B. Investment Advisors, Inc., First National Insurance Agency, LLC, F.N.B. Capital Corporation, LLC, Regency Finance Company and F.N.B. Commercial Leasing. It also operates consumer finance offices in Kentucky and Tennessee.

About PVF Capital Corp.
Park View Federal is a wholly-owned subsidiary of PVF Capital Corp. and operates 16 full-service offices located throughout the Greater Cleveland area. PVF Capital Corp.’s common shares trade on the NASDAQ Capital Market under the symbol PVFC.

Forward-looking Statements
This joint press release of F.N.B. Corporation and PVF Capital Corp. contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act, relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of F.N.B. Corporation and PVF Capital Corp. Forward-looking statements are typically identified by words such as “believe”, “plan”, “expect”, “anticipate”, “intend”, “outlook”, “estimate”, “forecast”, “will”, “should”, “project”, “goal”, and other similar words and expressions.  These forward-looking statements involve certain risks and uncertainties.  In addition to factors previously disclosed in F.N.B. Corporation and PVF Capital Corp. reports filed with the SEC and those identified elsewhere in this filing, the following factors among others, could cause actual results to differ materially from forward-looking statements or historical performance: ability to obtain regulatory approvals and meet other closing conditions to the Merger, including approval by PVF Capital Corp. shareholders, on the expected terms and schedule; delay in closing the Merger; difficulties and delays in integrating the F.N.B. Corporation and PVF Capital Corp. businesses or fully realizing cost savings and other benefits; business disruption following the Merger; changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; changes in interest rates and capital markets; inflation; customer acceptance of F.N.B. Corporation products and services; customer borrowing, repayment, investment and deposit practices; customer disintermediation; the introduction, withdrawal, success and timing of business initiatives; competitive conditions; the inability to realize cost savings or revenues or to implement integration plans and other consequences associated with mergers, acquisitions and divestitures; economic conditions; and the impact, extent and timing of technological changes, capital management activities, and other actions of the Federal Reserve Board and legislative and regulatory actions and reforms. F.N.B. Corporation and PVF Capital Corp. undertake no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.

NeuroMetrix (NURO) Reports Q4 2012 Results

NeuroMetrix, Inc. (Nasdaq: NURO), a medical device company focused on the diagnosis and treatment of the neurological complications of diabetes, today reported business and financial highlights for the quarter and twelve months ended December 31, 2012.

The Company is working to develop a high growth, profitable diabetes franchise focused on diabetic peripheral neuropathy, or DPN. It is the most common complication of diabetes, affecting over half of people with diabetes. DPN causes significant morbidity including pain, increased risk of falling in the elderly, and is the primary trigger for diabetic foot ulcers which may require lower extremity amputations. The Company has two diabetes products: a diagnostic test, NC-stat^® DPNCheck^™, which was launched in the fourth quarter of 2011, and the SENSUS^™ Pain Management System, which was launched in January 2013. The Company also sells the ADVANCE^™ general purpose nerve testing system.

Recent highlights include:

• SENSUS Pain Management System. The Company received FDA clearance for the SENSUS Electrode on November 29, 2012 which completed the regulatory requirements needed for commercial launch. Commercial shipments were initiated in early January 2013. The Company has seven durable medical equipment (DME) suppliers with 30 field sales representatives. The goal is to have 100 DME sales representatives by mid-year and 250 sales representatives by year end.
• NC-stat DPNCheck. The Company is focused on Medicare Advantage accounts and selected international markets. Domestic sales efforts are concentrated in a small, high-level commercial team. The Company currently has three active customers with a total of about 130,000 covered lives. An additional three Medicare Advantage plans, with a total of about 130,000 covered lives, are planning or carrying out pilot programs. Total NC-stat DPNCheck revenue for 2012 was $1.4 million of which about $600,000 was attributed to Medicare Advantage accounts.
• Operational Consolidation. The Company’s narrow commercial focus allowed it to streamline operations and reduce expenses. This included shutting down its direct sales force for NC-stat DPNCheck which has been targeting individual endocrinology and podiatry clinics. Employee headcount is currently at 35, a 40% reduction over the course of 2012. As a consequence, operating expenses are forecasted to decrease about 20% in 2013 into the range of $11-$12 million from $14 million for 2012.
• Capital Structure Adjustment. The Company executed a reverse split of its common stock on a 1:6 share basis effective for trading starting on February 19, 2013. The reverse split is intended to increase the per share trading price of the Company’s common stock to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Capital Market.

“We enter 2013 with two novel and proprietary diabetes products, a focused commercial plan, and a lower cost operating structure that we can leverage with growth,” said Shai N. Gozani, M.D., Ph.D., President and Chief Executive Officer of NeuroMetrix. “We met our financial, product development and commercial goals during 2012. Fiscal 2013 is an important year for the Company. We are optimistic about the market potential for our products and the diabetic neuropathy space in general.”

The Company reported its financial results for the fourth quarter of 2012. Total revenues were $1.5 million compared with $2.4 million for the fourth quarter of 2011. Diabetes products contributed revenue of $352,000 with the balance of $1,171,000 in revenue derived from the legacy ADVANCE business. Gross margin for the fourth quarter of 2012 was 55.6 percent of total revenues compared to 49.1 percent gross margin reported in the fourth quarter of 2011. Operating expenses for the fourth quarter of 2012 were $2.7 million compared to $3.6 million in the fourth quarter of 2011. Net loss for the fourth quarter of 2012 was $1.9 million or $0.89 per share. The Company reported a net loss of $2.4 million for the fourth quarter of 2011 or $3.76 per share. NeuroMetrix reported net cash usage of $2.2 million in the fourth quarter of 2012 and ended the period with cash resources of $8.7 million. Per share amounts have been adjusted for the effects of the reverse split.

For the year ended December 31, 2012, the Company reported revenues of $7.6 million and a net loss of $10.0 million or $5.22 per share. In the year ended December 31, 2011, the Company recorded revenues of $10.4 million and a net loss of $10.0 million or $15.53 per share.

Company to Host Live Conference Call and Webcast

NeuroMetrix management will host a conference call today, February 19, 2013 at 8:00 a.m., Eastern time. To access the call, dial 866-825-3308 (domestic), or 617-213-8062 (international). The confirmation code is 23668017. The call will also be webcast and will be accessible from the Company’s website at http://www.neurometrix.com under the “Investor Relations” tab. A replay of the conference call will be available for three months starting two hours after the call by dialing 888-286-8010 (domestic) or 617-801-6888 (international), and the confirmation code is 85981713.

About NeuroMetrix

NeuroMetrix is an innovative medical device company that develops and markets home use and point-of-care devices for the treatment and management of diabetic neuropathies, which affect over 50% of people with diabetes. If left untreated, diabetic neuropathies trigger foot ulcers that may require amputation, cause disabling chronic pain, and increase the risk of falling in the elderly. The annual cost of diabetic neuropathies has been estimated at $14 billion in the United States. The company’s products are used by physicians and managed care organizations to optimize patient care and reduce healthcare costs. The company markets the NC-stat^® DPNCheck^™ device, which is a rapid, accurate, and quantitative point-of-care test for diabetic neuropathy. This product is used to detect diabetic neuropathy at an early stage and to guide treatment. The company also markets the SENSUS^™ Pain Management System for treating chronic pain, focusing on physicians managing patients with painful diabetic neuropathy. The company has additional therapeutic products in its pipeline. For more information, please visit http://www.neurometrix.com.

Safe Harbor Statement

The statements contained in this press release include 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, including, without limitation, statements regarding the company’s or management’s expectations relating to the adoption of NC-stat DPNCheck and SENSUS, our ability to build a successful business focused on diabetic peripheral neuropathy, and our hope of expanding our commercial sales channel of our diabetic neuropathy products. While the company believes the forward-looking statements contained in this press release are accurate, there are a number of factors that could cause actual events or results to differ materially from those indicated by such forward-looking statements, including, without limitation, our estimates of future performance, and our ability to successfully develop, receive regulatory clearance or approval, commercialize and achieve market acceptance for any of our products. There can be no assurance that future developments will be those that the company has anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in the company’s most recent Annual Report on Form 10-K as well as other documents that may be filed from time to time with the Securities and Exchange Commission or otherwise made public. The company is providing the information in this press release only as of the date hereof, and expressly disclaims any intent or obligation to update the information included in this press release or revise any forward-looking statements.

Chanticleer Holdings (HOTR) Launches Trip-for-Two Sweepstakes

CHARLOTTE, NC–(Marketwire – February 19, 2013) – Chanticleer Holdings, Inc. (NASDAQ: HOTR) (“Chanticleer Holdings” or the “Company”), a minority owner in the privately held parent company of the Hooters® brand, Hooters of America, and a franchisee of international Hooters restaurants, announced today the launch of its sweepstakes for one lucky winner to win a trip for two (2) to the 17th Annual Hooters Swimsuit Pageant in Las Vegas, NV. The international Pageant is taking place in June 2013.

Sign up to receive Chanticleer Holdings email alerts at www.chanticleerholdings.com to enter for a chance to win the VIP trip for two to Las Vegas, Nevada, consisting of two round trip air-fare tickets, one hotel room for two, two tickets to watch the 17th Annual Hooters Swimsuit Pageant live, and two VIP passes to the Hooters® events surrounding the Pageant.

How to Enter
No purchase is necessary to enter. Enter by visiting www.chanticleerholdings.com to sign up for email alerts from February 15, 2013 through May 26, 2013 (“Sweepstakes Period”). Eligible entrants must complete the necessary sweepstakes fields to be entered. One entry per person/email address is allowed during the sweepstakes period. The winner will be selected and notified by May 29, 2013. Eligibility for this sweepstakes is open to legal residents of the 50 United States, Puerto Rico & the District of Columbia, South Africa and Hungary, ages 18 years or older. Please see Official Rules for full details.

Mike Pruitt, CEO of Chanticleer Holdings, commented, “We are excited to share one of the year’s most exciting events with one lucky winner and their guest. The Annual Hooters® Swimsuit Pageant brings Hooters girls from around the world together to represent their Hooters restaurant and hometown while competing for the first place grand prize and the crown to represent Hooters for a year as Miss Hooters International. We are delighted to bring two members of our Hooters family to the Pageant.”

About Chanticleer Holdings, Inc.
Chanticleer Holdings (HOTR) is focused on expanding the Hooters® casual dining restaurant brand in international emerging markets. Chanticleer currently owns in whole or part of the exclusive franchise rights to develop and operate Hooters restaurants in South Africa, Hungary and parts of Brazil, and has joint ventured with the current Hooters franchisee in Australia, while evaluating several additional international opportunities. The Company currently owns and operates in whole or part of six Hooters restaurants in its international franchise territories: Durban, Johannesburg, Cape Town and Emperor’s Palace in South Africa; Campbelltown in Australia; and Budapest in Hungary.

In 2011, Chanticleer and a group of noteworthy private equity investors, which included H.I.G. Capital, KarpReilly, LLC and Kelly Hall, president of Texas Wings Inc., the largest Hooters franchisee in the United States, acquired Hooters of America, a privately held company. Today, Hooters of America is an operator and the franchisor of over 430 Hooters® restaurants in 28 countries. Chanticleer maintains a minority ownership stake in Hooters of America and its CEO, Mike Pruitt, is also a member of Hooters’ Board of Directors.

For further information, please visit www.chanticleerholdings.com
Facebook: www.Facebook.com/ChanticleerHOTR
Twitter: http://Twitter.com/ChanticleerHOTR

For further information on Hooters of America, visit www.Hooters.com
Facebook: www.Facebook.com/Hooters
Twitter: http://Twitter.com/Hooters

Forward-Looking Statements:
Any statements that are not historical facts contained in this release are “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described in the companies’ filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the companies do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.

Company Contact:
Shannon DiGennaro
V.P. Investor Relations
Phone: 704.941.0959
sd@chanticleerholdings.com

ClearSign Combustion (CLIR) Selected to Present at CleanEquity Monaco 2013

LONDON, Feb. 14, 2013 /PRNewswire/ — ClearSign Combustion Corporation (NASDAQ CM: CLIR) will present at CleanEquity Monaco 2013 on March 7 – 8, 2013, at the Sporting d’Hiver, Monaco.

CleanEquity Monaco is an annual invitation-only event hosted by Innovator Capital, the London based specialist cleantech investment bank.

Other partners and sponsors include Prince Albert II of Monaco’s Foundation, Covington & Burling, Qualcomm, MDB Capital, PR Newswire, Kwittken & Company, the Monte-Carlo SBM and Monaco Chamber of Economic Development.

ClearSign has been identified by an expert panel as one of the world’s most innovative cleantech companies and has been selected to present to senior financial and strategic cleantech investors, policy makers, legislators, end users and media.

About ClearSign Combustion

ClearSign Combustion Corporation designs and develops technologies that aim to improve key performance characteristics of combustion systems including energy efficiency, emissions control, fuel flexibility and overall cost effectiveness. The company’s Electrodynamic Combustion Control™ (ECC™) technology introduces a computer-controlled electric field into the combustion zone to improve control of flame shape and heat transfer while maximizing system efficiency. Emissions from the combustion of any fuel type – including gas, biomass, and coal – are reduced as they are formed, helping to improve control performance and meet regulatory standards by dramatically decreasing pollutants.

ClearSign CEO, Rick Rutkowski, said, “We are excited to share the ClearSign story with a broader audience of investors, leaders, policymakers and media to increase awareness of our game-changing technology and share the importance of both recent and upcoming developments. We are delighted to have been selected to present at this year’s CleanEquity Conference.

“We believe that ClearSign’s innovative Electrodynamic Combustion Control™ (ECC™) technology offers significant advantages in the design of industrial and utility scale combustion systems. We are developing powerful new combustion control techniques that we believe may improve energy efficiency, and increase process throughput while significantly improving the economics of air pollution control and industrial production.”

Cautionary note on forward-looking statements

This press release includes forward-looking information and statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events that are based on management’s belief, as well as assumptions made by, and information currently available to, management. While we believe that our expectations are based upon reasonable assumptions, there can be no assurances that our goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect our actual results and may cause results to differ materially from those expressed in forward-looking statements made by us or on our behalf. Some of these factors include the acceptance of existing and future products, the impact of competitive products and pricing, general business and economic conditions, and other factors detailed in our Quarterly Report on Form 10-Q and other periodic reports filed with the SEC. We specifically disclaim any obligation to update or revise any forward-looking statement whether as a result of new information, future developments or otherwise.

Contacts:
Media:
Dennis S. Dobson, Jr.,
(203) 258-0159
http://www.clearsign.com/

Investor Relations:
(206) 673-4848
investors@clearsign.com

About Innovator Capital

Innovator Capital is a specialist investment bank advising Cleantech and Life Science companies from around the world. Established in 2003, Innovator focuses on the provision of expert strategic and capital markets advice, transaction arranging and M&A services for private and public companies.

www.cleanequitymonaco.com

DARA BioSciences (DARA) Regains Compliance with NASDAQ $1.00 Minimum Bid Price Rule

DARA BioSciences, Inc. (NASDAQ: DARA), a specialty pharmaceutical company focused on oncology and oncology supportive care products, announced today that on February 12, 2013, NASDAQ notified the Company that it has regained compliance with Rule 5550(a)(2), which requires a minimum bid price of $1.00 for continued listing on the NASDAQ Stock Market (the “Minimum Bid Price Rule”).

Commenting on the announcement, David J. Drutz, MD, DARA’s chief executive officer, stated “We are pleased to announce that we have regained compliance with NASDAQ’s minimum bid price rule. Management will continue to pursue its objective of maximizing shareholder value with the primary goal of becoming a leading oncology and oncology supportive care company in the United States. Our commercial plans remain on target and we are excited about the recent launch of Soltamox^® in late 2012 and the expected launch of Gelclair^® in early 2013.”

About DARA BioSciences, Inc.

DARA is a specialty pharmaceutical company focused on the development and commercialization of oncology treatment and supportive care products. DARA has comprehensive commercial coverage across the national oncology market through a series of agreements with a number of specialty pharmacy providers, leading group purchasing organizations (GPOs), retail partners, reimbursement experts, and an industry-leading third-party logistics provider. As part of an integrated national network with annual sales of over $1 billion in cancer therapeutics, DARA has significant commercial scale and capabilities. Its distribution network consists of more than 45,000 retail pharmacies, mail order pharmacies, and long-term care facilities. This provides DARA with established reimbursement and logistics expertise, as well as partnering opportunities with more than 300 sales and marketing personnel uniquely focused on oncology and oncology support products. This comprehensive network of partners is rare if not unique among companies in the oncology supportive care area and provides DARA a strong foundation for product introductions into this underserved market.

DARA increased its focus in oncology through its January 2012 acquisition of Oncogenerix, Inc., which holds the exclusive U.S. marketing rights to Soltamox^®, a novel oral liquid formulation of tamoxifen citrate, which is widely used in the treatment and prevention of breast cancer. Soltamox is the only FDA-approved oral liquid version of tamoxifen citrate and fulfills a vital clinical need for patients who cannot tolerate existing solid tablet formulations of this drug. DARA launched Soltamox in October 2012 to coincide with National Breast Cancer Awareness Month. DARA has exclusive U.S. rights to Soltamox through a license from Rosemont Pharmaceuticals, Ltd. Additionally, in June 2012, DARA launched its first product, Bionect^®, a topical treatment for skin irritation and burns associated with radiation therapy. DARA has rights to market Bionect in the US oncology/radiology markets under license from Innocutis. In September 2012, DARA entered into an exclusive agreement with the Helsinn Group of Switzerland for U.S. commercial rights to Gelclair^®, an FDA-cleared product for the treatment of oral mucositis. DARA plans to launch Gelclair in the first quarter of 2013.

Prior to acquiring Oncogenerix, DARA was focused on the development of a cancer-support therapeutic compound, KRN5500, for the treatment of neuropathic pain in patients with cancer. This product is an excellent fit with DARA’s strategic oncology focus, has successfully completed a Phase 2a clinical trial, and has been designated a Fast Track Drug by the United States Food and Drug Administration. DARA is working with the National Cancer Institute (NCI) to design an additional clinical trial under joint DARA-NCI auspices while continuing further Phase 2 development.

In addition to its oncology products, DARA’s pipeline includes DB959, a novel, non-TZD dual delta/gamma PPAR agonist for the treatment of type 2 diabetes and dyslipidemia. DARA has completed Phase 1 testing of DB959 and is presently pursuing opportunities to out-license this product.

For more information please visit our web site at www.darabio.com.

Safe Harbor Statement

All statements in this news release that are not historical are forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are subject to factors that could cause actual results to differ materially for DARA from those projected. Those factors include risks and uncertainties relating to DARA’s ability to timely commercialize and generate revenues or profits from Bionect^®, Soltamox®, Gelclair® or other products given that DARA only recently hired its initial sales force and DARA’s lack of history as a revenue-generating company, FDA and other regulatory risks relating to DARA’s ability to market Bionect, Soltamox, Gelclair or other products in the U.S. or elsewhere, DARA’s ability to develop and bring new products to market as anticipated, DARA’s current cash position and its need to raise additional capital in order to be able to continue to fund its operations, the current regulatory environment in which DARA develops and sells its products, the market acceptance of those products, dependence on partners, successful performance under collaborative and other commercial agreements, competition, the strength of DARA’s intellectual property and the intellectual property of others, the potential delisting of DARA’s common stock from the NASDAQ Capital Market, risks and uncertainties relating to DARA’s ability to successfully integrate Oncogenerix and other risk factors identified in the documents DARA has filed, or will file, with the Securities and Exchange Commission (“SEC”). Copies of DARA’s filings with the SEC may be obtained from the SEC Internet site at http://www.sec.gov. DARA expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in DARA’s expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based. DARA BioSciences and the DARA logo are trademarks of DARA BioSciences, Inc.

GT Advanced Technologies (GTAT) Presenting at Strategies in Light Conference

Broadwind Energy (BWEN) Wins Additional $27 Million in Tower Orders

A U.S. wind turbine manufacturer has selected Broadwind Energy, Inc. (NASDAQ: BWEN) to supply approximately $27 million of wind towers for delivery in 2013. The towers will be produced in the Company’s Manitowoc, WI and Abilene, TX facilities.

Peter C. Duprey, president and CEO of Broadwind Energy, Inc., stated, “It is nice to see orders begin to flow as a result of the extension of the Production Tax Credit (PTC). With the PTC renewal modified to include projects that commence construction by the end of the year, we expect better order visibility. We continue to be optimistic about the tower business.”

About Broadwind Energy

Broadwind Energy (NASDAQ: BWEN) applies decades of deep industrial expertise to innovate integrated solutions for customers in the energy and infrastructure markets. From gears and gearing systems for wind, oil and gas and mining applications, to wind towers, to comprehensive remanufacturing of gearboxes and blades, to operations and maintenance services and industrial weldments, we have solutions for the energy needs of the future. With facilities throughout the U.S., Broadwind Energy’s talented team of 800 employees is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at www.bwen.com.

Forward-Looking Statements

This release includes various forward-looking statements related to future, not past, events. Statements in this release that are not historical are forward-looking statements. These statements are based on current expectations and we undertake no obligation to update these statements to reflect events or circumstances occurring after this release. Such statements are subject to various risks and uncertainties that could cause actual results to vary materially from those stated. Such risks and uncertainties include but are not limited to: expectations regarding our business, end-markets, relationships with customers and our ability to diversify our customer base; the impact of competition and economic volatility on many of the industries in which we compete; our ability to realize revenue from customer orders and backlog; the impact of regulation on our end-markets, including the wind energy industry in particular; the sufficiency of our liquidity and working-capital; our restructuring plans and the associated cost-savings; our ability to preserve and utilize our tax net operating loss carry-forwards; and other risks and uncertainties described in our filings with the Securities and Exchange Commission.

FreeSeas (FREE) Announces 1:10 Reverse Stock Split to Be Effective February 14, 2013

ATHENS, Greece, Feb. 14, 2013 (GLOBE NEWSWIRE) — FreeSeas Inc. (Nasdaq:FREE) (“FreeSeas” or the “Company”), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of Handysize and Handymax vessels, announced today that the Company’s Amended and Restated Articles of Incorporation were amended to effect a reverse stock split of the Company’s issued and outstanding common stock at a ratio of one new share for every 10 shares currently outstanding.

Details on the Reverse Stock Split

The Company anticipates that its common stock will begin trading on a split adjusted basis when the market opens on February 14, 2013. Beginning on that date, FreeSeas’ common stock will trade for 20 trading days under ticker symbol “FREED” to provide notice of the reverse stock split. After this period, the symbol will revert to “FREE.” The common shares will also trade under a new CUSIP number Y26496201.

The reverse stock split will consolidate 10 shares of common stock into one share of common stock at a par value of $.001 per share. As a result of the reverse stock split, the number of outstanding common shares will be reduced from 18,759,778 to 1,875,978, subject to adjustment for fractional shares. The reverse stock split will not affect any shareholder’s ownership percentage of FreeSeas’ common shares, except to the limited extent that the reverse stock split would result in any shareholder owning a fractional share. Fractional shares of common stock will be rounded up to the nearest whole share.

After the reverse stock split takes effect, shareholders holding physical share certificates will receive instructions from American Stock Transfer and Trust Company LLC, the Company’s exchange agent, regarding the process for exchanging their shares.

About FreeSeas Inc.

FreeSeas Inc. is a Marshall Islands corporation with principal offices in Athens, Greece. FreeSeas is engaged in the transportation of drybulk cargoes through the ownership and operation of drybulk carriers. Currently, it has a fleet of Handysize and Handymax vessels. Risks and uncertainties are described in reports filed by FreeSeas Inc. with the U.S. Securities and Exchange Commission, which can be obtained free of charge on the SEC’s website at http://www.sec.gov. For more information about FreeSeas Inc., please visit the corporate website, www.freeseas.gr.

The FreeSeas Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5981

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company’s growth strategy and measures to implement such strategy, including expected vessel acquisitions. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the demand for drybulk vessels; competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

CONTACT: At the Company
         FreeSeas Inc.
         Alexandros Mylonas, Chief Financial Officer
         011-30-210-45-28-770
         Fax: 011-30-210-429-10-10
         info@freeseas.gr
         www.freeseas.gr

         Investor Relations
         The Equity Group
         Adam Prior, Vice President
         212-836-9606
         aprior@equityny.com
         www.theequitygroup.com

Western Copper and Gold (WRN) files feasibility study

VANCOUVER, Feb. 13, 2013 /PRNewswire/ – Western Copper and Gold Corporation (the “Company”) (TSX:WRN; NYSE MKT:WRN) is pleased to announce that it has filed a technical report titled “Casino Project, Form NI 43-101F1 Technical Report Feasibility Study, Yukon, Canada” dated January 25, 2013 (the “Report”).

The Report summarizes the results of a feasibility study on the Casino copper-gold project, which results were first reported by the Company in a news release dated January 7, 2013.  The Report was prepared by M3 Engineering & Technology Corporation.

The Report is available on SEDAR (www.sedar.com) and EDGAR (www.sec.gov/edgar.shtml) and is also posted on the Company’s website (www.westerncopperandgold.com).

ABOUT WESTERN COPPER AND GOLD CORPORATION

Western Copper and Gold Corporation is a Vancouver-based exploration and development company with significant copper, gold and molybdenum resources and reserves.  The Company has 100% ownership of the Casino Project located in the Yukon Territory. The Casino Project is one of the world’s largest open-pittable gold, copper, silver and molybdenum deposits. For more information, visit www.westerncopperandgold.com.

On behalf of the board,

“Dale Corman”
F. Dale Corman
Chairman & CEO

Voltari (MOTR) Announces Paul Rector as Vice President of North American Sales

NEW YORK, Feb. 13, 2013 (GLOBE NEWSWIRE) — Voltari, a division of Motricity (Nasdaq:MOTR) and the leader in predictive analytical solutions for targeting mobile consumers, today announced the appointment of Paul Rector as Vice President of North American Sales. As a member of the executive management team, Rector reports directly to CEO Rich Stalzer.

With nearly 20 years of digital advertising sales and operations experience across media, financial services and education technology, Paul Rector is an industry veteran with a successful track record of driving growth through new revenue channels. Prior to Voltari, Rector served as Chief Revenue Officer at Heartland Publications and was a mentor at the Connecticut Innovations – TechStart incubator. Previously he was Vice President and Founding Partner of Renzulli Learning, a University of Connecticut spin-out, where he created and led a SaaS operation and successfully exited after five years. Rector has also held VP of Business Development positions at Viacom and E*TRADE Financial.

“Paul brings a wealth of industry experience and is a proven leader, having built global sales organizations and mentored technology start-ups,” said Rich Stalzer, Voltari CEO. “He further strengthens Voltari’s executive team and will be instrumental in helping our customers achieve sustained market advantages in working with Voltari.”

Paul Rector has extensive experience as an executive leader in new ventures and spin-outs that are backed by major institutions, and has developed services-oriented sales organizations with customer-driven product development teams.

“I’m proud to join the Voltari team and what I believe is the best audience-development company in the market today. While there are dozens, if not hundreds of data analytics and ad network players out there, Voltari is the only player in the digital space that recognizes it is all about using data and impressions to curate multiple audiences for each brand so that we support customers’ 2–3 key business outcomes through one relationship,” said Paul Rector. “The Voltari Connect platform was designed for this exact approach, with its groundbreaking IP, automated optimization and ease of implementation.”

About Motricity

Motricity (Nasdaq:MOTR) empowers mobile operators, brands and advertising agencies to maximize the reach and economic potential of the mobile ecosystem through the delivery of relevance-driven merchandising, marketing and advertising solutions. Motricity’s unique combination of technology, expertise and go-to-market approach deliver definitive return-on-investment for our mobile operator, brand and advertising agency customers. For more information, visit www.motricity.com

The Motricity, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7813

About Voltari

Voltari empowers brands and advertising agencies to maximize the reach and economic potential of the mobile ecosystem through the delivery of relevance-driven marketing and advertising solutions. Leveraging advanced predictive analytics capabilities; Voltari delivers the right content to the right person at the right time. Voltari is a division of Motricity (Nasdaq:MOTR). For more information, visit www.voltari.com.

CONTACT:  Voltari
          Phone: 646-790-7132
          email: press@voltari.com

Recon Technology (RCON) Reports Second Quarter 2013 Financial Results

Revenue Increases 49%, Net Profit Up 278%

BEIJING, Feb. 13, 2013 /PRNewswire-FirstCall/ — Recon Technology, Ltd. (Nasdaq: RCON) (“Recon” or the “Company”), a Chinese non-state-owned oilfield services provider to oil and gas companies and their affiliates, today reported results for its second quarter of fiscal 2013 ended December 31, 2012.

Q2 FY2013 Highlights

• Total revenues for the second quarter of FY2013 were approximately RMB46.0 million ($7.3 million), an increase of 49.1% from the same period of FY2012.
• Net income attributable to ordinary shareholders for the second quarter of FY2013 was RMB5.3 million ($0.8 million), or RMB1.34 ($0.21) per diluted share. Net income attributable to ordinary shareholders for the same period of FY2012 was RMB1.4 million, or RMB0.35 ($0.06) per diluted share.

“Recon recorded both strong top-line and bottom-line growth in the second quarter of fiscal 2013. We are very pleased with our progress over the past several quarters and expect the trend to continue in 2013.” said Mr. Yin Shenping, Chairman and CEO of Recon. “For the six-month period, our business benefited mainly from our recently developed fracturing service business. It also benefited from our integrated product-service strategies. To further strengthen our competitive advantage, protect our leading market position, and maintain our strong growth momentum, we will continue to expand our portfolio of products and services and focus our growth strategies on high growth, high-margin areas.”

Q2 FY2013 Financial Results

Total revenues for the second quarter of FY2013 increased by 49.1% to RMB46.0 million ($7.3 million) from RMB30.8 million for the same period in FY2012. Service revenues were particularly strong, increasing 476.5% year over year. The overall increase of service revenue consisted mainly of fracturing services and minor maintenance services. During FY2012, Recon BHD signed several fracturing service contracts with an aggregate contract value of RMB30 million with Sinopec Zhongyuan oilfield. As of December 31, 2012, we have completed most of the contracts and recognized corresponding revenues from the contracts. Our management intends to leverage our reputation and experience in the field to pursue new fracturing business contracts in the coming years.

Gross profit increased to RMB14.0 million ($2.2 million) for the second quarter of FY2013, up 53.8% from the same period of FY2012. Gross margin increased to 30.49% for the second quarter of FY2013 from 29.55% for the same period in FY2012. The improvement in overall gross margin was mainly due to service and software sales contributing to a higher portion of total revenues. Service and software sales historically carry higher gross margins than hardware sales.

Selling and distribution expenses increased by 14.1% from RMB1.4 million for the second quarter of FY2012 to RMB1.6 million ($0.3 million) for the second quarter of FY2013. This increase was primarily due to increased shipping charge and maintenance expenses. General and administrative expenses decreased by 32.3% from RMB3.2 million for the second quarter of FY2012 to RMB2.5 million ($0.4 million) for the same period of FY2013. Research and development expenses were RMB4.2 million ($0.7 million) for the second quarter of FY2013, up 72.5% from a year ago. Overall, operating expenses increased by 18.6% year over year to RMB8.3 million ($1.3 million) for the second quarter of FY2013.

Income from operations was RMB5.7 million ($0.9 million) for the second quarter of FY2013, compared to RMB2.1 million for the same period of FY2012. This increase in income from operations is mainly driven by top line growth as well as decrease in SG&A expenses as a percentage of total revenues.

Net income attributable to ordinary shareholders increased by 278.8% to RMB5.3 million ($0.8 million) for the second quarter of FY2013 from RMB1.4 million for the same period of FY2012. Diluted earnings per share was RMB1.34 ($0.21) for the second quarter of FY2013, compared to RMB0.35 ($0.06) for the same period of FY2012.

Adjusted EBITDA was RMB7.6 million ($1.2 million) for the second quarter of FY2013, up 249.9% compared to RMB2.2 million for the same period of FY2012.

As of December 31, 2012, cash and cash equivalents were RMB2.1 million ($0.3 million). Cash and cash equivalents consist of cash on hand, demand deposits and highly liquid short-term debt investments with stated maturities of no more than six months.

Year-to-Date FY2013 Financial Results

Total revenues for the six months ended December 31, 2012 increased by 53.8% to RMB55.0 million ($8.7 million) from RMB35.8 million for the same period of fiscal 2012, primarily driven by strong sales from fracturing service business.

Gross profit increased to RMB16.5 million ($2.6 million) for the six months ended December 31, 2012, up 42.0% from the same period of fiscal 2012. Gross margin decreased to 29.92% for the six months ended December 31, 2012 from 32.39% for the same period ended December 31, 2011. The decrease in gross margin was mainly related to furnace sales, which carry a lower margin than our other solutions.

Selling and distribution expenses increased by 28.2% from RMB2.3 million for the six months ended December 31, 2011 to RMB2.9 million ($0.5 million) for the same period in fiscal 2013. This increase was primarily due to increased shipping charge and maintenance expenses. General and administrative expenses decreased by 22.9% from RMB5.8 million for the six months ended December 31, 2011 to RMB4.5 million ($0.7 million) for the same period of fiscal 2013. Research and development expenses were RMB5.7 million ($0.9 million) for the six months ended December 31, 2012, up 23.1% from the same period of fiscal 2012. Overall, operating expenses were RMB13.1 million ($2.1 million) for the six months ended December 31, 2012, steady compared to same period of last year.

Income from operations was RMB3.3 million ($0.5 million) for the six months ended December 31, 2012, compared to a loss of RMB1.1 million for the same period ended December 31, 2011. This increase in income from operations can be attributed primarily to an increase in total revenues and decrease in operating expenses as a percentage of total revenues.

Net income attributable to ordinary shareholders increased by 246.5% to RMB2.9 million ($0.5 million) for the six months ended December 31, 2012, an improvement of RMB4.9 million compared to a loss of RMB2.0 million for the same period of fiscal 2012. Diluted earnings per share was RMB0.75 ($0.12) for the six months ended December 31, 2012, compared to diluted loss per share of RMB0.51 for the same period ended December 31, 2011.

Adjusted EBITDA was RMB6.1 million ($1.0 million) for the six months ended December 31, 2012, compared to a loss of RMB0.6 million for the same period of fiscal 2012, an improvement of 1,048.5%.

For the six months ended December 31, 2012, net cash provided by operating activities was RMB5.2 million ($0.8 million). This was an increase of RMB7.2 million ($1.1 million) compared to net cash used in operating activities of RMB2.0 million for the six months ended December 31, 2011.

Net cash used in financing activities amounted to RMB6.6 million ($1.0 million) for the six months ended December 31, 2012, compared to RMB0.2 million for the same period of fiscal 2012. During the fiscal 2013 six-month period, we paid back a prior RMB12 million ($1.9 million) commercial bank loan and received a RMB5 million ($0.8 million) loan from another bank, which was guaranteed by one of our shareholders.

Net cash used in investing activities was RMB0.4 million (approximately $0.1 million) for the six months ended December 31, 2012, an increase of RMB0.3 million from RMB0.1 million for the same period of fiscal 2012. The increase was related to the purchase a motor vehicle.

About Recon Technology, Ltd.

Recon Technology, Ltd. is a non-state-owned oil field service company in China. The company has been providing software, equipment and services designed to increase the efficiency and automation in oil and gas exploration, extraction, production and refinery for Chinese oil and gas fields for more than 10 years. More information may be found at http://www.recon.cn or e-mail: info@recon.cn.

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 or performance, and underlying assumptions and other statements that are other than statements of historical facts. 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, 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:

At the Company:
Recon Technology, Ltd.
Tel: +86-10-8494-5799
Email: info@recon.cn
Web: http://www.recon.cn

Investor Relations:
Tina Xiao
Weitian Group LLC
Email: tina.xiao@weitian-ir.com
Web: http://www.weitian-ir.com

India Globalization (IGC) Q3 Net Income of $311k, Quarterly Revenue of $2.9M

BETHESDA, MD — (Marketwire) — 02/13/13 — India Globalization Capital, Inc. (NYSE MKT: IGC), a company competing in the rapidly growing materials and infrastructure industry in India and China, announced financial results for the Third Quarter Ended December 31, 2012.

Ram Mukunda, CEO of India Globalization Capital, said, “We are pleased to report profitability this quarter due to our considerable efforts to realign and focus our equipment, processes, and people on the iron ore mining business, cut costs from unprofitable construction contracts, and renegotiate or extinguish expense liabilities and debt. Our revenues for the quarter rose dramatically to nearly $4 million and we achieved earnings of $0.01 per share.”

Total revenue for IGC was $3,933,906 for the three months ended December 31, 2012, compared to $986,799 for the corresponding three months ended December 31, 2011. The increase in revenue comes from increased trading activity as we gear up for production from our mines. The revenue also has a component, $802,746, which comes from the closing out of a construction contract that our Indian subsidiary TBL was engaged in. In our next fiscal year, which starts in April, we project revenue and margins to rise as iron ore prices are anticipated to trend up from increased infrastructure activity in China, India, U.S.A. and other parts of the world. It is our current expectation that after the Chinese New Year and winter, we will begin purchasing low-grade iron ore and transporting it to our plants for further beneficiation, and or for sale to our customers. We have four mines in Inner Mongolia and three beneficiation plants with over $500 million of estimated reserves measured at $125 per ton.

In the three months ended December 31, 2012, the Company reported a GAAP net income of $310,892 and a GAAP EPS of $0.01 compared to a consolidated net loss of ($1,901,375) and a GAAP EPS loss of ($0.09) for the corresponding three months ended December 31, 2011. The significant shift in earnings is attributed to four factors, a) a drastic cut in SG&A as we align our resources for mining and trading and shed unprofitable construction activity, b) redeployment of our construction equipment for mining, c) a significant decrease in high interest loans and liability, and d) an increase in iron ore trading revenue and revenue attributed to the closure of a construction contract. As we beneficiate iron ore by converting low grade iron ore to high grade iron ore, in an environment with iron prices trending higher, the arbitrage between low and high grade iron ore will increase thus driving our margins and earnings higher. As we have spent considerable energy aligning our resources and integrating the mining business, we project, based on the current trend in iron ore pricing, the next fiscal year to be profitable.

Selling, general and administrative expenses were $153,789 for the three months ended December 31, 2012 as compared to $968,890 for the corresponding three months ended December 31, 2011. The Company has substantially cut its employees, overheads, and eliminated recurring contracts associated with construction activity.

For the period ended December 31, 2012, our cash and cash equivalents along with restricted cash was approximately $2.1 million.
As of December 31, 2012, the Company’s stockholders’ equity was approximately $15.6 million compared to about $15.8 million for the period ended March 31, 2012.

The Company reported total assets of approximately $21.4 million as of December 31, 2012 versus about $25.3 million as of March 30, 2012.

Mukunda added, “We are now filling orders from our Chinese customers through our trading operations. We expect to increase this activity as we expand our suppliers beyond India and China. In the future the lower margin trading business is expected to transition to higher margins as we supply high-grade iron ore from our beneficiation plants. As reported in Bloomberg, in September, 2012 China approved $158 billion for infrastructure as part of a stimulus plan that is expected to boost the demand for commodities. Iron ore prices have started to recover from their lows of $86 per ton in September 2012 to around $125 per ton. We have about $500 million of iron ore deposits, four mine sites, and three beneficiation plants. Our short term strategy is three pronged: 1) start supplying high grade iron ore from our beneficiation plants, 2) expand the supply chain for raw materials beyond India and China, and 3) actively look at consolidating more mines in the Inner Mongolia region that can be accretive to the Company.”

About IGC:
Based in Bethesda, Maryland, India Globalization Capital, Inc. (IGC) is a materials and infrastructure company operating in India and China. We currently supply Iron ore to Steel Companies operating in China. For more information about IGC, please visit IGC’s Web site at www.indiaglobalcap.com. For information about Ironman, please visit www.hfironman.com.

Forward-looking Statements:
Some of the statements contained in this press release that are not historical facts constitute forward-looking statements under the federal securities laws. Forward-looking statements can be identified by the use of the words “may,” “will,” “should,” “could,” “expects,” “post”, “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “intends,” “potential,” “proposed,” “confident” or “continue” or the negative of those terms. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond IGC’s control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, our competitive environment, infrastructure demands, Iron ore availability and governmental, regulatory, political, economic, legal and social conditions in China and India.

The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise. Other factors and risks that could cause or contribute to actual results differing materially from such forward-looking statements have been discussed in greater detail in IGC’s Schedule 14A, Form 10-K for FYE 2012, Form 10-Q for the quarter ended September 30, 2012, Form S-3, and the Post-effective Amendment No. 1 on Form S-3 to Form S-1 filed with the Securities and Exchange Commission on December 9, 2011, July 16, 2012, November 14, 2012, December 14, 2012, and December 26, 2012 respectively.

             INDIA GLOBALIZATION CAPITAL, INC. AND SUBSIDIARIES
                         CONSOLIDATED BALANCE SHEETS

                                                        As of
                                          ---------------------------------
                                               31-Dec-12         31-Mar-12
                                              (unaudited)        (audited)
                                          -------------------  ------------
                  ASSETS
Current assets:
  Cash and cash equivalents               $         2,108,326  $    562,948
  Accounts receivable, net of allowances              588,602     1,641,868
  Inventories                                         482,663       387,481
  Advance taxes                                        41,452        41,452
  Prepaid expenses and other current
   assets                                           2,385,798     2,586,514
                                          -------------------  ------------
    Total current assets                  $         5,606,841  $  5,220,263
  Property, plant and equipment, net                8,026,307     8,491,796
  Investments in affiliates                         5,109,057     5,109,058
  Intangible Assets and Goodwill                    1,472,460     4,803,828
  Investments-others                                  247,202       637,620
  Other non-current assets                            977,496       997,513
                                          -------------------  ------------
    Total assets                          $        21,439,363  $ 25,260,078
                                          ===================  ============
   LIABILITIES AND STOCKHOLDERS' EQUITY
  Current liabilities:
  Short-term borrowings                   $             4,557  $    210,010
  Trade payables                                      291,898       337,145
  Accrued expenses                                    724,164       916,710
  Notes payable                                     1,800,000     1,800,000
  Dues to related parties                                   0       310,681
  Deferred tax liabilities                            135,980       135,980
  Loans - others                                      414,437       222,389
  Other current liabilities                           494,841       563,105
                                          -------------------  ------------
    Total current liabilities             $         3,865,877  $  4,496,020
  Deferred Income taxes                               713,897       713,897
  Other non-current liabilities                     1,199,284     4,233,978
                                          -------------------  ------------
    Total liabilities                     $         5,779,058  $  9,443,895
                                          -------------------  ------------
  Stockholders' equity:
  Common stock - $.0001 par value;
   150,000,000 shares authorized;
   60,061,737 issuedand outstanding as of
   Dec 31, 2012 and 60,061,737 issued and
   outstanding as of March 31, 2012       $             6,007  $      6,007
  Additional paid-in capital                       54,821,952    54,821,952
  Accumulated other comprehensive income           (2,464,818)   (2,542,453)
  Retained earnings (Deficit)                     (37,804,966)  (37,444,832)
                                          -------------------  ------------
      Total equity attributable to Parent $        14,558,175  $ 14,840,674
Non-controlling interest                  $         1,102,130  $    975,509
                                          -------------------  ------------
      Total stockholders' equity                   15,660,305    15,816,183
                                          -------------------  ------------
    Total liabilities and stockholders'
     equity                               $        21,439,363  $ 25,260,078
                                          ===================  ============

             INDIA GLOBALIZATION CAPITAL, INC. AND SUBSIDIARIES
                    CONSOLIDATED STATEMENTS OF OPERATIONS
                                 (Unaudited)

                           Three months ended         Nine months ended
                              December 31,               December 31,
                        ------------------------  -------------------------
                            2012         2011         2012         2011
                        -----------  -----------  -----------  ------------

    Revenues            $ 3,933,906  $   986,799  $ 6,553,052  $  2,959,167
    Cost of revenues
     (excluding
     depreciation)       (3,189,950)  (1,024,817)  (5,235,751)   (2,902,650)
    Selling, general
     and administrative
     expenses              (153,789)    (968,890)    (936,348)   (2,354,405)
    Depreciation           (134,785)     (42,360)    (463,503)     (169,225)
                        -----------  -----------  -----------  ------------
Operating income (loss)     455,382   (1,049,268)     (82,550)   (2,467,113)
    Interest expense         (2,651)    (174,353)     (28,950)     (624,086)
    Interest income            2051       59,629        2,888       186,061
    Impairment loss               -            -            -             -
    Equity in
     (gain)/loss of
     joint venture                -      (33,588)           -        28,463
    Other income, net        43,641     (716,364)    (120,595)     (706,440)
                        -----------  -----------  -----------  ------------
Income before income
 taxes and minority
 interest attributable
 to non-controlling
 interest               $   498,423  $(1,913,944) $  (229,207) $ (3,583,115)
    Income taxes
     benefit/ (expense)        (453)           -       21,522             -
                        -----------  -----------  -----------  ------------
Net income/(loss)       $   497,970  $(1,913,944) $  (207,685) $ (3,583,115)
  Non-controlling
   interests in
   earnings of
   subsidiaries            (187,078)      12,569     (152,449)       23,284
                        -----------  -----------  -----------  ------------
Net income / (loss)
 attributable to common
 stockholders           $   310,892  $(1,901,375) $  (360,134) $ (3,559,831)
                        ===========  ===========  ===========  ============
Earnings/(loss) per
 share attributable to
 common stockholders:
    Basic               $      0.01  $     (0.09) $     (0.01) $      (0.17)
    Diluted             $      0.01  $     (0.09) $     (0.01) $      (0.17)
Weighted-average number
 of shares used in
 computing earnings per
 share amounts:
    Basic                60,061,737   21,301,092   60,061,737    20,880,604
    Diluted              60,061,737   21,301,092   60,061,737    20,880,604

Add to Digg Bookmark with del.icio.us Add to Newsvine

Contact Information
Claudia Grimaldi

Real Goods Solar (RSOL) Selected by Leading Production Homebuilder

LOUISVILLE, Colo., Feb. 13, 2013 (GLOBE NEWSWIRE) — Real Goods Solar, Inc. (Nasdaq:RSOL), a nationwide leader of turnkey solar energy solutions, has been selected by a leading production homebuilder to deploy solar in certain of its new communities, beginning in California and with an eye towards broader deployment to other solar friendly states.

Home buyers in participating solar communities will enjoy the benefits of a solar system as a standard feature of their new home. Real Goods Solar will design, engineer, service and manage the installation of these residential solar systems. The systems will be designed to offset a good portion of the electrical needs of the home.

“We are excited about this important expansion of our homebuilder program that allows homeowners to benefit from the advantages of having solar electricity from day one when they move into their new homes,” said Kam Mofid, Real Goods Solar CEO. “With our management team’s deep experience in home building and solar we were able to offer an outstanding value and the best overall solution as part of the homebuilder’s efforts to broadly offer solar in new homes.”

Josh Price, vice president of residential operations for Real Goods Solar, commented: “Home builders are seeing demand strengthen across the country but buyers are often concerned about the rising electricity costs. Including solar in new homes allows home buyers to see savings in their energy costs and therefore reduce the overall cost of owning their dream home.”

About Real Goods Solar and RGS Energy

Real Goods Solar, Inc. (Nasdaq:RSOL) is one of the nation’s pioneering solar energy companies serving commercial, residential, and utility customers. Beginning with one of the very first photovoltaic panels sold in the U.S. in 1978, the company has installed more than 14,500 solar power systems representing over 100 megawatts of 100% clean renewable energy. Real Goods Solar makes it very convenient for customers to save on their energy bill by providing a comprehensive solar solution, from design, financing, permitting and installation to ongoing monitoring, maintenance and support. As one of the nation’s largest and most experienced solar power installers, the company has 15 offices across the West and the Northeast. It services the commercial and utility markets through its RGS Energy division. For more information, visit RealGoodsSolar.com or RGSEnergy.com, or call (888) 507-2561.

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

This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as “expect,” “intend,” “believe,” “will,” “should” or comparable terminology or by discussions of strategy. While Real Goods Solar believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Real Goods Solar’s filings with the Securities and Exchange Commission. Real Goods Solar assumes no duty to update any forward-looking statements.

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

Alderon (AXX) Confirms No Impact as a Result of CN’s Plan to Cancel Feasibility Study

VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 02/12/13 — Alderon Iron Ore Corp. (TSX:ADV)(NYSE MKT:AXX) (“Alderon”) is not reliant on the proposed CN rail service in the Labrador Trough and CN’s decision to terminate the feasibility study for an integrated multi-user rail and terminal does not affect the scheduling or the time-lines of the Kami Project. One of the greatest advantages of Alderon’s Kami Project is its proximity to the existing common carrier rail line owned and operated by the Quebec North Shore and Labrador Railway (“QNS&L”). Alderon’s feasibility study capital and operating cost projections are based on using the QNS&L Railway which has been the central case rail solution for our Kami Project since its inception.

“The QNS&L Railway is a common carrier that operates with the legal obligation to accommodate third-party traffic. It currently has ample surplus capacity and runs within 15 km of the Kami Property,” says Tayfun Eldem, President and CEO of Alderon. “Alderon will continue its rail tariff discussions with QNS&L.”

CN announced today that its feasibility study for a new rail line in Northern Quebec is terminated amid anticipated delays in mine development projects in and around the Labrador Trough. The proposed rail line and terminal handling facility were to serve the Quebec/Labrador iron ore corridor.

Alderon has always viewed CN’s integrated rail and terminal development project as a potentially high value alternative option and as a result signed on to participate in CN’s feasibility study. Now that the feasibility study is canceled, under Alderon’s agreement with CN, they are obligated to refund the $1.5 million Alderon contributed to the study last year.

About Alderon

Alderon is a leading iron ore development company in Canada with offices in Vancouver, Toronto, Montreal, Labrador City and St. John’s. The 100% owned Kami Project is located within Canada’s premier iron ore district and is surrounded by four producing iron ore mines. The Alderon team is comprised of skilled professionals with significant iron ore expertise to advance Kami towards production.

For more information on Alderon, please visit our website at www.alderonironore.com.

ALDERON IRON ORE CORP.

On behalf of the Board

Mark J. Morabito, Executive Chairman

Cautionary Note Regarding Forward-Looking Information

This press release contains “forward-looking information” concerning anticipated developments and events that may occur in the future. Forward looking information contained in this press release include, but are not limited to, statements with respect to Alderon’s access to the Quebec North Shore and Labrador Railway.

In certain cases, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this press release is based on certain factors and assumptions regarding, among other things, the estimation of mineral reserves and resources, the realization of resource estimates, iron ore and other metal prices, the timing and amount of future exploration and development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and develop the Kami Property (as defined herein) in the short and long-term, the progress of exploration and development activities, the receipt of necessary regulatory approvals, the completion of the environmental assessment process, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not commence at the Kami Property, risks relating to variations in mineral resources, grade or recovery rates resulting from current exploration and development activities, risks relating to the ability to access rail transportation, sources of power and port facilities, risks relating to changes in iron ore prices and the worldwide demand for and supply of iron ore and related products, risks related to increased competition in the market for iron ore and related products and in the mining industry generally, risks related to current global financial conditions, uncertainties inherent in the estimation of mineral resources, access and supply risks, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the development process, regulatory risks, including risks relating to the acquisition of the necessary licences and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities at the Kami Property may not be available on satisfactory terms, or at all, risks related to disputes concerning property titles and interest, environmental risks, and the additional risks identified in the “Risk Factors” section of the Company’s Annual Information Form for the most recently completed financial year or other reports and filings with applicable Canadian securities regulators. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this press release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.

Contacts:
Alderon Iron Ore Corp.
Montreal Office
514-281-9434
514-281-5048 (FAX)

Alderon Iron Ore Corp.
Vancouver Office
604-681-8030
604-681-8039 (FAX)

Alderon Iron Ore Corp.
Ian Chadsey
Investor Relations
514-817-5799
info@alderonironore.com

Phase 3 Trial of ZIOPHARM’S (ZIOP) Palifosfamide in First-Line Metastatic Soft Tissue Sarcoma

NEW YORK, Feb. 12, 2013 (GLOBE NEWSWIRE) — ZIOPHARM Oncology, Inc. (Nasdaq:ZIOP) announced today that the Phase 3 (PICASSO 3) trial of palifosfamide (ZIO-201) in first-line metastatic soft tissue sarcoma has reached its target number of progression-free survival (PFS) events. PICASSO 3 is an international, randomized, double-blind, placebo-controlled trial whose primary endpoint is PFS. According to the protocol and statistical plan, reaching the target number of PFS events leads to completion of the blinded data collection process and then formal efficacy analysis by the IDMC (Independent Data Monitoring Committee). The Company will announce topline results from this trial during the last week of March 2013.

“Reaching the target number of progression events for PICASSO 3 positions us one step closer to understanding palifosfamide’s full potential for this significant unmet medical need,” said Jonathan Lewis, M.D., Ph.D., Chief Executive Officer of ZIOPHARM. “With a positive study outcome, palifosfamide has the potential to become the first new treatment option in nearly 30 years for patients with first-line metastatic soft tissue sarcoma.”

About ZIOPHARM Oncology, Inc.:

ZIOPHARM Oncology is a biopharmaceutical company focused on the development and commercialization of new cancer therapies. The Company’s clinical programs include:

Palifosfamide (ZIO-201) is a potent bi-functional DNA alkylating agent that has activity in multiple tumors by evading typical resistance pathways. Palifosfamide is in the same class as bendamustine, cyclophosphamide, and ifosfamide. Intravenous palifosfamide is currently being studied in a randomized, double-blinded, placebo-controlled Phase 3 trial (PICASSO 3) for the treatment of first-line metastatic soft tissue sarcoma and is also in a pivotal Phase 3 trial (MATISSE) for first-line metastatic small cell lung cancer. Additionally, the Company is developing an oral capsule form of palifosfamide.

Ad-RTS IL-12 is currently being tested in a Phase 2 study. Ad-RTS IL-12 uses synthetic biology to enable controlled, local delivery of therapeutic interleukin-12 (IL-12), a protein important for an immune response to cancer. ZIOPHARM’s DNA synthetic biology platform is being developed in partnership with Intrexon Corporation and employs an inducible gene-delivery system that enables controlled, local delivery of genes that produce therapeutic proteins to treat cancer. This is achieved by placing IL-12 under the control of a proprietary biological “switch” (the RheoSwitch Therapeutic System^®, RTS^®) to turn on/off the therapeutic protein expression at the tumor site.

Indibulin (ZIO-301) is a novel, tubulin binding agent that is expected to have several potential benefits, including oral dosing, application in multi-drug resistant tumors, no neuropathy and a tolerable toxicity profile. It is currently being studied in a Phase 1/2 trial in metastatic breast cancer.

Darinaparsin (ZIO-101) is a novel mitochondrial-and hedgehog-targeted agent (organic arsenic) currently in ongoing studies with Solasia Pharma K.K.

ZIOPHARM’s operations are located in Boston, MA, and New York City. Further information about ZIOPHARM may be found at www.ziopharm.com.

Forward-Looking Safe Harbor Statement:

This press release contains certain forward-looking information about ZIOPHARM Oncology that is intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. Words such as “expect(s),” “feel(s),” “believe(s),” “will,” “may,” “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding our ability to successfully develop and commercialize our therapeutic products; our ability to expand our long-term business opportunities; financial projections and estimates and their underlying assumptions; and future performance. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: whether Palifosfamide, Ad-RTS IL-12, Darinaparsin, Indibulin, or any of our other therapeutic products will advance further in the clinical trials process and whether and when, if at all, they will receive final approval from the U.S. Food and Drug Administration or equivalent foreign regulatory agencies and for which indications; whether Palifosfamide, Ad-RTS IL-12, Darinaparsin, Indibulin, and our other therapeutic products will be successfully marketed if approved; whether any of our other DNA-based biotherapeutics discovery and development efforts will be successful; our ability to achieve the results contemplated by our collaboration agreements; the strength and enforceability of our intellectual property rights; competition from pharmaceutical and biotechnology companies; the development of and our ability to take advantage of the market for DNA-based biotherapeutics; our ability to raise additional capital to fund our operations on terms acceptable to us; general economic conditions; and the other risk factors contained in our periodic and interim SEC reports filed from time to time with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K for the fiscal year ended December 31, 2011, and our Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2012. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

CONTACT: For ZIOPHARM
         Nicole Jones
         ZIOPHARM Oncology, Inc.
         617-778-2266
         njones@ziopharm.com

         Media Contacts:
         David Schull or Lena Evans
         Russo Partners, LLC
         858-717-2310
         212-845-4262
         david.schull@russopartnersllc.com
         lena.evans@russopartnersllc.com

StemCells, Inc. (STEM) Announces First Patient Cohort Completes Spinal Cord Injury Trial

NEWARK, Calif., Feb. 12, 2013 (GLOBE NEWSWIRE) — StemCells, Inc. (Nasdaq:STEM) today announced that the twelve-month data from the first patient cohort in the Company’s Phase I/II clinical trial of its proprietary HuCNS-SC® product candidate (purified human neural stem cells) for chronic spinal cord injury continued to demonstrate a favorable safety profile, and showed that the considerable gains in sensory function observed in two of the three patients at the six-month assessment have persisted. The third patient remains stable. A summary of the data was presented today by Martin McGlynn, President and CEO, at the 15^th Annual BIO CEO & Investor Conference. By completing the twelve-month assessment, the first patient cohort has now completed the trial, and has entered into a separate follow-up study for long-term observation.

“The multi-segment gains observed in sensory function in two patients at six months have endured at the 12-month assessment. In addition, between the six- and 12-month evaluations, one patient converted from a complete to an incomplete injury,” said Armin Curt, M.D., Professor and Chairman of the Spinal Cord Injury Center at Balgrist University Hospital, University of Zurich and principal investigator of the clinical trial. “Importantly, the persistence of these sensory gains at the 12-month evaluation was seen across more than one clinical measure. While much more clinical research needs to be done to demonstrate efficacy, the types of changes we are observing are unexpected and very encouraging given that these are patients in the chronic stage of complete spinal injury.”

Mr. McGlynn added, “While we need to be cautious when interpreting data from a small, uncontrolled trial, to our knowledge, this is the first time a patient with a complete spinal cord injury has been converted to a patient with an incomplete injury following transplantation of neural stem cells. We are encouraged that the cells appear to convey clinical benefit in such severely injured patients. We are therefore hopeful that we will see similar or greater benefit in AIS B and C patients, who already have partial sensation and motor function below the level of injury which could be further augmented by cell transplantation.”

Patients in the study’s first cohort all suffered a complete injury to the thoracic (chest-level) spinal cord. In a complete injury, there is no neurological function below the level of injury, and sensory function of all three patients was stable before transplantation of the HuCNS-SC cells. All three patients were transplanted four to nine months after injury with a dose of 20 million cells at the site of injury. The surgery, immunosuppression and the cell transplants have been well tolerated by all the patients. There were no abnormal clinical, electrophysiological or radiological responses to the cells, and all the patients have remained neurologically stable through the first 12 months following transplantation. Positive changes in sensitivity to touch, heat and electrical stimuli were observed in well-defined and consistent thoracic regions in two of the patients, while no changes were observed in the third patient.  Importantly, quantitative tests of specific sensory function, as well as electrophysiological measures of impulse transmission across the site of injury, show an  association  with the clinical examination, providing further objective confirmation of the sensory gains.

About the Spinal Cord Injury Clinical Trial

The Phase I/II clinical trial of StemCells, Inc.’s HuCNS-SC® purified human adult neural stem cells is designed to assess both safety and preliminary efficacy. Twelve patients with thoracic (chest-level) neurological injuries at the T2-T11 level are planned for enrollment, and their injuries must have occurred within three to twelve months prior to transplantation of the cells. In addition to assessing safety, the trial will assess preliminary efficacy based on defined clinical endpoints, such as changes in sensation, motor function and bowel/bladder function. The Company has dosed the first three patients, all of whom have injuries classified as AIS A, in which there is no neurological function below the injury level. The injuries are classified according to the American Spinal Injury Association Impairment Scale (AIS). The second and third cohorts will be patients classified as AIS B and AIS C, those with less severe injury, in which there is some preservation of sensory or motor function.

All patients will receive HuCNS-SC cells through direct transplantation into the spinal cord and will be temporarily immunosuppressed. Patients will be evaluated regularly in the post-transplant period in order to monitor and assess the safety of the HuCNS-SC cells, the surgery and the immunosuppression, as well as to measure any recovery of neurological function below the injury site. The Company intends to follow the effects of this therapy long-term, and each of the patients will be invited to enroll into a separate four year observational study after completing the Phase I/II study.

The trial is being conducted at Balgrist University Hospital, University of Zurich, a world leading medical center for spinal cord injury and rehabilitation, and is open for enrollment to patients in Europe, Canada and the United States. Enrollment for the second cohort is currently underway, and the first AIS B patient was enrolled and dosed late last year. If you believe you may qualify and are interested in participating in the study, please contact the study nurse either by phone at +41 44 386 39 01 or by email at stemcells.pz@balgrist.ch.

Additional information about the Company’s spinal cord injury program can be found on the StemCells, Inc. website at http://www.stemcellsinc.com/Therapeutic-Programs/Clinical-Trials.htm and at http://www.stemcellsinc.com/Therapeutic-Programs/Spinal-Cord-Injury.htm, including video interviews with Company executives and independent collaborators.

About Balgrist University Hospital

Balgrist University Hospital, University of Zurich is recognized worldwide as a highly specialized center of excellence providing examination, treatment and rehabilitation opportunities to patients with serious musculoskeletal conditions. The clinic owes its leading international reputation to its unique combination of specialized medical services. The hospital’s carefully-balanced, interdisciplinary network brings together under one roof medical specialties including orthopedics, paraplegiology, radiology, anesthesiology, rheumatology, and physical medicine. More information about Balgrist University Hospital is available at www.balgrist.ch.

About StemCells, Inc.

StemCells, Inc. is engaged in the research, development, and commercialization of cell-based therapeutics and tools for use in stem cell-based research and drug discovery. The Company’s lead therapeutic product candidate, HuCNS-SC® cells (purified human neural stem cells), is currently in development as a potential treatment for a broad range of central nervous system disorders.  In a Phase I clinical trial in Pelizaeus-Merzbacher disease (PMD), a fatal myelination disorder in children, the Company has shown preliminary evidence of progressive and durable donor-derived myelination in all four patients transplanted with HuCNS-SC cells. The Company is also conducting a Phase I/II clinical trial in chronic spinal cord injury in Switzerland and has reported positive interim data for the first patient cohort. The Company has also initiated a Phase I/II clinical trial in dry age-related macular degeneration (AMD), and is pursuing preclinical studies in Alzheimer’s disease.  StemCells also markets stem cell research products, including media and reagents, under the SC Proven® brand. Further information about StemCells is available at http://www.stemcellsinc.com.

The StemCells, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7014

Apart from statements of historical fact, the text of this press release constitutes forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created therein. These statements include, but are not limited to, statements regarding whether the improvements in sensory function seen in the Company’s Phase I/II clinical study of spinal cord injury will persist and whether they will prove to be clinically meaningful; continued authorization to conduct a clinical trial in Switzerland in chronic spinal cord injury; the prospect for screening and then enrolling patients into the AIS B and AIS C cohorts; the prospect for evaluating trial patients for changes in their sensation, motor function and bowel/bladder function; the potential of the Company’s HuCNS-SC cells to treat spinal cord injury and other central nervous system disorders; and the future business operations of the Company, including its ability to conduct clinical trials as well as its other research and product development efforts. These forward-looking statements speak only as of the date of this news release. The Company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Such statements reflect management’s current views and are based on certain assumptions that may or may not ultimately prove valid. The Company’s actual results may vary materially from those contemplated in such forward-looking statements due to risks and uncertainties to which the Company is subject, including the fact that additional trials will be required to demonstrate the safety and efficacy of the Company’s HuCNS-SC cells for the treatment of any disease or disorder; uncertainty as to whether the FDA or other applicable regulatory agencies will permit the Company to continue clinical testing in spinal cord injury or in future clinical trials of proposed therapies for other diseases or conditions; uncertainties regarding the ability of preclinical research, including research in animal models, to accurately predict success or failure in clinical trials; uncertainties regarding the Company’s ability to recruit the patients required to conduct its clinical trials or to obtain meaningful results; uncertainties regarding the Company’s ability to obtain the increased capital resources needed to continue its current and planned research and development operations; uncertainty as to whether HuCNS-SC cells and any products that may be generated in the future in the Company’s cell-based programs will prove safe and clinically effective and not cause tumors or other adverse side effects; uncertainties regarding the Company’s ability to commercialize a therapeutic product and its ability to successfully compete with other products on the market; and other factors that are described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, and in its subsequent reports on Form 10-Q and Form 8-K.

CONTACT: Rodney Young
         StemCells, Inc.
         Chief Financial Officer
         (510) 456-4128

         Ian Stone
         Russo Partners
         (619) 308-6541

Allied Automotive (XRSC) Chooses New XRS Mobile Platform for Fleet Optimization

Leading Vehicle Transporter Selects Sleek, Flexible Mobile Solution Over Traditional Bulky On-Board Computers

MINNEAPOLIS, Feb. 12, 2013 (GLOBE NEWSWIRE) — XRS Corporation, (formerly Xata Corporation) (Nasdaq:XRSC), the leader in mobile fleet optimization software, today announced that they have been working with Allied Automotive Group, which selected XRS’s mobile fleet optimization platform to improve efficiency and compliance. Allied, one of North America’s largest vehicle transporters, will fully implement the platform this year and will be the first automotive carrier to use the XRS system, the trucking industry’s only complete mobile solution for compliance and fleet optimization.

“We are thrilled to be partnering with Allied Automotive Group,” said Jay Coughlan, chairman and chief executive officer of XRS Corporation. “We are proud to be associated with a forward-thinking company that realizes the immense business potential for new, mobile-ready road science tools like the XRS platform.”

Allied is implementing XRS on seven-inch Samsung Galaxy 2 tablets connected to a 4G LTE wireless network. The devices are part of the Samsung SAFE group, which represents the family of Samsung Enterprise solutions that include the necessary security and feature enhancements suitable for business use and keep company data secure. Drivers are able to access satellite imagery of destinations, message other drivers with status updates, communicate with dispatchers, capture photos and other capabilities that Allied can tap into to provide valuable new services to their customers. This technology will allow the Allied industry-leading central dispatch system to move to the next level.

Allied owns the largest and most diverse vehicle transport fleet in the industry, with an extensive network that spans the North American continent. As the finished vehicle marketplace builds new momentum and industry projections indicate a significant shortage of carrier capacity on the horizon, Allied’s infrastructure, fleet diversity and commitment to technology place the company in an advantageous market position. Implementing the new XRS mobile platform is a significant step toward business growth.

“Efficiency, integration and rapid implementation were key priorities as we considered our first EOBR solution, and XRS offered the greatest potential for success in every facet of our business,” said Robert Ferrell, executive vice president, fleet and maintenance for Allied Automotive Group. “Not only are we staying ahead of the curve when it comes to MAP-21 compliance, but we also require a mobile solution that can integrate seamlessly with our existing dispatch, signature capture and form management systems. XRS gives us the full support we need for leveraging mobile-based and tablet-based technology to conduct business.”

The new XRS mobile platform runs on more than 50 types of mobile devices and automatically transmits vehicle and operator data directly to a management dashboard, providing compliance with the new MAP-21 compliance mandate for recording hours-of-service. Nearly 90 percent of drivers already have mobile devices in use, meaning there are no additional hardware costs associated with the XRS platform, and XRS Corporation has partnership agreements with the leading brands in mobile communications in both the U.S. and Canada.

“After considering and trying out traditional ‘big box’ systems, Allied determined a mobile EOBR solution would be a significant step forward toward improving efficiency, compliance and return-on-investment,” said James DeSocio, executive vice president of field operations for XRS. “The days of expensive, hard-wired, on-board installations are gone, and mobile technology is poised to help thousands of transportation companies like Allied create customized fleet management systems that maximize return-on-investment.”

With XRS, there are no up-front hardware costs and no capital requirements. The subscription-based monthly service features varying pricing levels, dependent on package and functionality. Every XRS package includes an XRS Relay in-cab device that communicates via Bluetooth with the driver’s existing smartphone or tablet.

The return on investment of XRS is almost immediate, and it pays off in driver productivity, fuel efficiency, fleet utilization, accident prevention, compliance and much more.

“Allied has been providing invaluable feedback on the new XRS system during the launch, and we are truly excited to see how XRS can help Allied continue to transform its business, starting with more efficient reporting and compliance practices,” DeSocio said.

XRS is currently in limited release, with general availability expected in spring 2013. Pricing and package levels will be announced prior to general release. To sign up or learn more about the XRS platform, please visit www.xrscorp.com.

About XRS Corporation

XRS Corporation (formerly Xata Corporation) delivers mobile compliance and fleet management software solutions to the trucking industry to maintain regulatory compliance and slash operating costs. XRS is leading the trucking industry’s migration to mobile devices for collecting and analyzing compliance and management data. Its existing mobility-based products are low-cost and easy-to-install solutions that run on smartphones, tablets and rugged handhelds– devices often owned by drivers, themselves. XRS has sales and distribution partnerships with the major wireless carriers in the U.S. and Canadian trucking industry.

Through XRS, fleet managers, dispatchers and drivers collect, sort, view and analyze data to help reduce costs, increase safety, attain compliance with governmental regulations, and improve customer satisfaction – all through their mobile devices.

For more information, visit www.xrscorp.com or call 1.800.745.9282.

About Allied Automotive Group

Allied owns the largest and most diverse vehicle transport fleet in the industry, with an extensive network that spans the North American continent. The company was founded nearly 80 years ago, and today offers not only the capacity to meet increasing manufacturer volumes – but the infrastructure, the workforce, the fleet diversity, and the experience to lead our industry. For more information, visit www.alliedautomotive.com.

Contacts:

Megan Derkey

XRS Corporation

megan.derkey@xrscorp.com

952.707.5681

David Hlavac

Bellmont Partners

david@bellmontpartners.com
612.803.3350

This information was brought to you by Cision http://www.cisionwire.com

http://www.cisionwire.com/xrs-corporation-formerly-xata-corporation/r/allied-automotive-group-chooses-new-xrs-mobile-platform-for-fleet-optimization,c9368800

Cardium’s (CXM) Excellagen® Awarded American Podiatric Medical Association Seal of Approval

Company Also Announces Addition of a Regional Distributor for Excellagen

SAN DIEGO, Feb. 12, 2013 /PRNewswire/ — Cardium Therapeutics (NYSE MKT: CXM) announced today that the American Podiatric Medical Association (APMA) has granted its prestigious Seal of Approval to the Company’s innovative Excellagen^® advanced wound care product for its contributions to better foot health and mobility.  Excellagen is a syringe-based, professional-use, pharmaceutically-formulated 2.6% fibrillar Type I bovine collagen gel that functions to activate the wound healing process and accelerate the growth of granulation tissue.  Excellagen is FDA-cleared for the treatment of neuropathic and diabetic foot ulcers, pressure ulcers, venous ulcers, surgical wounds and other dermal wounds.

(Photo: http://photos.prnewswire.com/prnh/20130212/LA58324)

(Logo: http://photos.prnewswire.com/prnh/20051018/CARDIUMLOGO)

Considered the nation’s leading professional organization for podiatrists, APMA has 53 state component locations across the United States and its territories, with a membership of more than 12,000 licensed podiatrists.In obtaining the Seal of Approval, Excellagen passed an extensive scientific review by a panel of APMA members and was recommended by a committee of Doctors of Podiatric Medicine (DPMs) to the APMA Board of Trustees. For more information, visit www.apma.org.

“Excellagen has proven to be an important treatment for wound care and has been thoroughly reviewed and found to be beneficial to foot health.  For this reason, it has been granted APMA’s Seal of Approval,” stated Joseph M. Caporusso, DPM, President of the APMA.

“We are pleased to receive the highly regarded APMA Seal of Approval for our Excellagen advanced wound care product.  The APMA assists physicians and their patients to make informed decisions about their foot health, and we are proud that Excellagen has completed the thorough review process and met the APMA’s standards and requirements for its Seal of Approval.  Excellagen was also selected as a 2012 Top 10 Innovations in Podiatry by Podiatry Today publication and we appreciate the industry recognition that Excellagen is now receiving,” stated Christopher J. Reinhard, Cardium’s Chairman and CEO.

The Company also announced that it has retained an additional independent distributor group consisting of ten sales representatives to market, sell and distribute Excellagen to podiatric and orthopedic physicians, plastic surgeons, hospitals and surgical centers located in North Carolina and South Carolina.  The distributor’s customer base specializes in the treatment of diabetic foot ulcers and surgical wounds, including post-Mohs cancer surgery and trauma wounds.  On January 3, 2013, Cardium announced a distribution agreement with Academy Medical, LLC to market, sell and distribute Excellagen to U.S. government medical providers, including the Veterans Administration (VA) healthcare system and military hospitals.  Academy Medical has a growing customer base of over 35 VA and military hospitals within the U.S.

Reinhard concluded, “The addition of our new regional distributor and our recent agreement with Academy Medical will expand our distribution capabilities for Excellagen as we advance forward with our planned U.S. strategic partnering activities.  Consistent with our long-term business strategy, we do not plan to establish an internal sales force for Excellagen and continue to focus on broadening representation, marketing and sales, and co-promotional arrangements targeting four U.S. vertical wound healing market channels: (1) podiatry, (2) wound care centers, hospitals and long-term care facilities, (3) government medical service providers; and (4) dermatology.  We are also advancing international registrations for Excellagen, including CE Mark registration, which is expected in first quarter 2013, to enable marketing and sales in the European Union and in other international markets where the CE Mark is considered an important commercial recognition of quality.”

About Excellagen

Excellagen is a syringe-based, professional-use, pharmaceutically-formulated 2.6% fibrillar Type I bovine collagen gel that functions to activate the wound healing process and accelerate the growth of granulation tissue.  Excellagen is FDA-cleared for the treatment of neuropathic and diabetic foot ulcers, pressure ulcers, venous ulcers, surgical wounds, and other dermal wounds, and is intended for professional use following standard debridement procedures in the presence of blood cells and platelets, which are involved with the release of endogenous growth factors.  Excellagen’s unique fibrillar Type I bovine collagen gel formulation is topically applied through easy-to-control, pre-filled, sterile, single-use syringes and is designed for application at only one-week intervals.  Already-established standard CPT^® procedure reimbursement codes may apply when Excellagen is used with surgical debridement procedures.  Cardium is also advancing forward with the reimbursement process for Excellagen with Centers for Medicare & Medicaid Services (CMS) and private insurance providers.

There have been important, positive findings reported by physicians using Excellagen as part of Cardium’s initial physician sampling, patient outreach and market “seeding” programs.  In several case studies, physicians reported a rapid onset of the growth of granulation tissue in a wide array of wounds, including non-healing diabetic foot ulcers (consistent with the results of Cardium’s Matrix clinical study), as well as pressure ulcers, venous ulcers and Mohs surgical wounds.  In certain cases, rapid granulation tissue growth and wound closure have been achieved with Excellagen following unsuccessful treatment with other advanced wound care approaches.  From a dermatology perspective, a previously unexplored vertical market, remarkable healing responses have been observed following Mohs surgery for patients diagnosed with squamous and basal cell carcinomas, including deep surgical wounds extending to the periosteum (a membrane that lines the outer surface of bones).  Additionally, because of the easy-use and platelet activating capacity, physicians have been employing Excellagen in severe non-healing wounds at near-amputation status, in combination with autologous platelet-rich plasma therapy and collagen sheet products.  These case studies and positive physician feedback provide additional support of Excellagen’s potential utility as an important new tool to help promote the wound healing process.  Excellagen case studies are available at http://www.excellagen.com/surgical-wounds.html.

About Cardium

Cardium is an asset-based health sciences and regenerative medicine company focused on the acquisition and strategic development of innovative products and businesses with the potential to address significant unmet medical needs and having definable pathways to commercialization, partnering or other economic monetizations. Cardium’s current portfolio includes the Tissue Repair Company, Cardium Biologics, and the Company’s newly-acquired To Go Brands^® nutraceutical business. The Company’s lead commercial product, Excellagen^® topical gel for wound care management, has received FDA clearance for marketing and sale in the United States.  Cardium’s lead clinical development product candidate Generx^® is a DNA-based angiogenic biologic intended for the treatment of patients with myocardial ischemia due to coronary artery disease. To Go Brands^® develops, markets and sells dietary supplements through established regional and national retailers.  In addition, consistent with its capital-efficient business model, Cardium continues to actively evaluate new technologies and business opportunities. For more information, visit www.cardiumthx.com.

Forward-Looking Statements

Except for statements of historical fact, the matters discussed in this press release are forward looking and reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control and may cause actual results to differ materially from expectations. For example, there can be no assurance that the APMA Seal of Approval establishes the effectiveness, quality or safety of Excellagen or its use for promoting good foot health; that distributor relationships will be effective or potential strategic partnerships will be successfully established; that case study observations will be reproducible or generalizable, or that results or trends observed in a clinical study or follow-on case studies will be reproduced in subsequent studies or in actual use; that new clinical studies will be successful or will lead to approvals or clearances from health regulatory authorities, or that approvals in one jurisdiction will help to support studies or approvals elsewhere; that the company can attract suitable commercialization partners for our products or that we or partners can successfully commercialize them; that our product or product candidates will not be unfavorably compared to competitive products that may be regarded as safer, more effective, easier to use or less expensive or blocked by third party proprietary rights or other means; that the products and product candidates referred to in this report or in our other reports will be successfully commercialized and their use reimbursed, or will enhance our market value; that new product opportunities or commercialization efforts will be successfully established; that third parties on whom we depend will perform as anticipated; that we can raise sufficient capital from partnering, monetization or other fundraising transactions to maintain our stock exchange listing or adequately fund ongoing operations; or that we will not be adversely affected by these or other risks and uncertainties that could impact our operations, business or other matters, as described in more detail in our filings with the Securities and Exchange Commission. We undertake no obligation to release publicly the results of any revisions to these forward-looking statements to reflect events or circumstances arising after the date hereof.

Copyright 2013 Cardium Therapeutics, Inc.  All rights reserved.
For Terms of Use Privacy Policy, please visit www.cardiumthx.com.

Cardium Therapeutics^®, Generx^®,Cardionovo^®, Tissue Repair™, Gene Activated Matrix™, GAM™, Excellagen^®, Excellarate™, Osteorate™, MedPodium^®, Appexium^®, Linée^®, Alena^®, Cerex^®, D-Sorb™, Neo-Energy^®, Neo-Carb Bloc^®, Neo-Chill^™, and Nutra-Apps^® are trademarks of Cardium Therapeutics, Inc. or Tissue Repair Company. To Go Brands^® is a trademark of To Go Brands, Inc. Other trademarks belong to their respective owners.

Athersys (ATHX) to Present at BIO CEO & Investor Conference

CLEVELAND, Feb. 11, 2013 (GLOBE NEWSWIRE) — Athersys, Inc. (Nasdaq:ATHX) announced today that Gil Van Bokkelen, Ph.D., Chairman and Chief Executive Officer, will present at the 15^th Annual BIO CEO & Investor Conference to be held Monday, February 11, 2013, through Tuesday, February 12, 2013, at The Waldorf Astoria New York in New York City.

Details of Athersys’ participation are as follows:

The 15th Annual BIO CEO & Investor Conference assembles a select group of established biotech companies, as well as top public and private equity investors and members of the sell-side investment community, to explore the current investment landscape and opportunities in life sciences.  In addition to plenary sessions and panel discussions on timely business topics and key therapeutic areas, the conference features presentations by over 130 leading biotechnology and pharmaceutical companies, as well as a number of nonprofit and venture philanthropy organizations.

About Athersys

Athersys is a clinical stage biotechnology company engaged in the discovery and development of therapeutic product candidates designed to extend and enhance the quality of human life. The Company is developing its MultiStem^® cell therapy product, a patented, adult-derived “off-the-shelf” stem cell product platform for disease indications in the cardiovascular, neurological, inflammatory and immune disease areas. The Company currently has several clinical stage programs involving MultiStem, including for treating inflammatory bowel disease, ischemic stroke, damage caused by myocardial infarction, and for the prevention of graft-versus-host disease. Athersys has also developed a diverse portfolio that includes other technologies and product development opportunities, and has forged strategic partnerships and collaborations with leading pharmaceutical and biotechnology companies, as well as world-renowned research institutions in the United States and Europe to further develop its platform and products. More information is available at www.athersys.com.

The Athersys, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4548

CONTACT: William (B.J.) Lehmann, J.D.
         President and Chief Operating Officer
         Tel: (216) 431-9900
         bjlehmann@athersys.com

         Investor Relations:
         Lisa M. Wilson
         In-Site Communications
         Tel: (917) 543-9932
         lwilson@insitecony.com

DynaVox (DVOX) Reports Second Quarter Fiscal Year 2013 Results

PITTSBURGH, Feb. 11, 2013 (GLOBE NEWSWIRE) — DynaVox (Nasdaq:DVOX), the world’s leading provider of communication and education products for individuals with significant speech, language and learning disabilities, today announced results for the second quarter ended December 28, 2012.

Net sales were $17.6 million, a decrease of 24%, compared to net sales of $23.2 million for the second quarter ended December 30, 2011. Sales for the Company’s speech generating devices decreased 26% to $14.9 million and sales from its special education software declined 16% to $2.7 million from the prior year.

Gross profit for the second quarter of fiscal year 2013 decreased 23% to $12.8 million, compared to gross profit of $16.6 million in the second quarter of the prior year. The Company’s gross margin for the second quarter increased 100 basis points to 72.7%, compared to a gross margin of 71.7% in the second quarter of the prior year. The increase in margin is mainly the result of decreased costs offset to some degree by lower sales volume.

Operating expenses in the second quarter of fiscal year 2013 decreased 19% to $11.4 million, compared to $14.1 million in the prior year. Operating income for the second quarter was $1.4 million, compared to $2.5 million in the same period a year ago.

GAAP net income for the second quarter of fiscal year 2013 was $0.1 million, or $0.01 per share, compared to GAAP net income of $0.3 million, or $0.03 per share, for the same quarter a year ago.

Adjusted pro forma net income, as defined below, was $0.4 million, or $0.01 per share, compared to adjusted pro forma net income of $1.2 million, or $0.04 per share, in the prior year.

Adjusted EBITDA, as defined below, decreased 34% to $2.8 million, compared to $4.2 million in the previous year.

“The continuation of difficult economic conditions, together with technology advances such as tablet computers, adversely impacted our net sales during the second quarter. To overcome these challenges, we are continuing our research and development on new product innovations aimed at providing greater value to our customers,” said Michelle Wilver, DynaVox’s Chief Executive Officer.

“We expected a tough environment in fiscal 2013 and as such our action plans are well underway to properly address, both our speech generating device and special education software markets, for the long term.”

Results for the Twenty-Six Weeks Ended December 28, 2012

For the first twenty-six weeks of fiscal 2013, net sales decreased 27% to $36.2 million from $49.4 million in the same period last year.

Gross profit for the first twenty-six weeks of fiscal 2013 decreased 27% to $26.2 million. The Company’s gross profit margin expanded 30 basis points to 72.4% from 72.1% in the same period last year.

Operating income for the first twenty-six weeks of fiscal year 2013 decreased 69% to $1.7 million, compared to operating income of $5.3 million in the prior year.

GAAP net loss for the first twenty-six weeks of fiscal year 2013 was $0.1 million, or $0.01 per share, compared to GAAP net income of $0.8 million, or $0.08 per share, a year ago. Adjusted pro forma net income, as defined below, was $0.8 million for the first twenty-six weeks, compared to $2.5 million in the prior year and adjusted pro forma net income per share for the first twenty-six weeks was $0.02 per share, compared to $0.09 per share in the prior year.

For the first twenty-six weeks of fiscal 2013, Adjusted EBITDA was $4.4 million, a decrease of 49%, from $8.7 million in the same period last year.

Conference Call

The conference call is scheduled to begin at 4:30 p.m. EST on February 11, 2013. The call will be broadcast live over the Internet, hosted at the Investor Relations section of DynaVox’s website at http://ir.dynavoxtech.com/index.cfm, and will be archived online through February 25, 2013. In addition, listeners may dial (877) 312-5529 in North America, and international listeners may dial (253) 237-1147. Participants from the Company will be Michelle Wilver, Chief Executive Officer, and Ken Misch, Chief Financial Officer.

A telephonic playback will be available from 7:45 p.m. EST, February 11, 2013 through February 14, 2013. To hear the playback participants may dial (855) 859-2056 and international listeners may dial (404) 537-3406. The conference ID number is 90194263.

Explanatory Note and Non-GAAP Financial Measures

DynaVox Inc. completed an initial public offering (IPO) on April 27, 2010. As a result of the IPO and certain other recapitalization transactions, DynaVox Inc. became the sole managing member of and has a controlling interest in DynaVox Systems Holdings LLC and its subsidiaries (“DynaVox Holdings”).

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

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

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

Forward-Looking Statements

This press release contains forward-looking statements which reflect our current views with respect to, among other things, our operations and financial performance. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “projects”, “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to those described under “Risk Factors” in our Annual Report on Form 10-K, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (SEC), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Annual Report on Form 10-K and other filings. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

About DynaVox Inc.

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

CONTACT: News Media Contact:
         DynaVox
         Dave Colson
         Communications Director
         (412) 995-4090

         Investor Contact:
         DynaVox
         Ray Merk
         VP Finance
         (412) 209-6547

(AMSC) Reports Third Quarter Financial Results

Company to Host Conference Call Today at 5 p.m. ET

DEVENS, Mass., Feb. 11, 2013 (GLOBE NEWSWIRE) — AMSC (Nasdaq:AMSC), a global solutions provider serving wind and power grid industry leaders, today reported financial results for its third quarter of fiscal year 2012 ended December 31, 2012.

Revenues for the third quarter of fiscal 2012 were $17.4 million, which compares with $18.1 million for the third quarter of fiscal 2011. Revenues were lower than the company’s previous forecast due primarily to delayed revenue recognition with a customer in the company’s Wind segment. As a result of this delay, the company’s Wind revenues for the third quarter of fiscal 2012 declined by 33 percent year over year. The company increased its Grid revenues by 34 percent year over year in the third fiscal quarter as a result of greater D-VAR® system shipments.

For the third quarter of fiscal 2012, AMSC reported a net loss of $20.1 million, or $0.38 per share. This figure includes approximately $6.7 million in restructuring and impairment charges, partially offset by a $5.2 million non-cash “mark-to-market” gain driven by the re-valuation of the derivative liability and warrants associated with the company’s debt financings. For the third quarter of fiscal 2011, AMSC’s net loss was $26.3 million, or $0.52 per share. This figure included an aggregate of $6.5 million in costs associated with corporate restructuring, impairment and litigation charges.

The company’s non-GAAP net loss for the third quarter of fiscal 2012 was $13.5 million, or $0.26 per share. This compares with a non-GAAP net loss of $17.5 million, or $0.34 per share, for the third quarter of fiscal 2011. Please refer to the financial table below for a reconciliation of GAAP to non-GAAP results.

AMSC’s cash, cash equivalents, marketable securities, and restricted cash at December 31, 2012 totaled $56.4 million. This compares with $73.1 million as of September 30, 2012. The company’s cash usage during the third fiscal quarter included payments toward its adverse purchase commitments, which were reduced from approximately $12.1 million as of September 30, 2012 to approximately $1.8 million as of December 31, 2012.

“Our non-GAAP net loss and ending cash balance came in better than our forecast in the third fiscal quarter despite the revenue shortfall,” said Daniel P. McGahn, President and CEO, AMSC. “In response to the recent challenges in the global wind power market, we also took action during the third quarter to lower our cost structure while continuing to focus on building our order book.”

Looking Forward

For the fourth fiscal quarter ending March 31, 2013, AMSC expects that its revenues will exceed $18 million and that its net loss will be less than $18 million, or $0.32 per share. This forecast excludes any impact from mark-to-market adjustments related to the derivative liability and warrants. AMSC expects that its non-GAAP (as defined below) net loss for the fourth quarter of fiscal 2012 will be less than $13 million, or $0.23 per share. AMSC expects to have more than $48 million in cash, cash equivalents and restricted cash on March 31, 2013.

“As we approach the start of fiscal year 2013, the tenor in the global wind power market has been changing for the better,” McGahn continued. “A healthy rebound has been forecast in our core Asian markets, while the U.S., U.K. and Australia – key adopters of our D-VAR grid interconnection solution – remain stable and compelling. At the same time, we have begun to pursue opportunities related to a broader adoption of renewables in emerging markets such as South America, South Africa and Eastern Europe. Given these trends, activities and the diversity of our global revenue streams, we believe that we will be able to generate annual revenue growth of at least 25% in fiscal 2013.”

Conference Call Reminder

In conjunction with this announcement, AMSC management will participate in a conference call with investors beginning at 5:00 p.m. Eastern Time today to discuss the company’s results and its business outlook. Those who wish to listen to the live or archived conference call webcast should visit the “Investors” section of the company’s website at http://www.amsc.com/investors. The live call also can be accessed by dialing 719-325-2454 and using conference ID 3192954.

About AMSC (Nasdaq:AMSC)

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

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

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

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Any statements in this release about future expectations, plans and prospects for the company, including without limitation our prospects for future growth, expectations regarding our future financial results and cash balance, conditions in the global wind power market and our ability to generate revenue from the company’s activities in emerging markets, and other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements represent management’s current expectations and are inherently uncertain.

There are a number of important factors that could materially impact the value of our common stock or cause actual results to differ materially from those indicated by such forward-looking statements. Such factors include: Our success in addressing the wind energy market is dependent on the manufacturers that license our designs; we may not realize all of the sales expected from our backlog of orders and contracts; we may require additional funding in the future and may be unable to raise capital when needed; our business and operations would be adversely impacted in the event of a failure or security breach of our information technology infrastructure; our success is dependent upon attracting and retaining qualified personnel and our inability to do so could significantly damage our business and prospects; we rely upon third-party suppliers for the components and subassemblies of many of our Wind and Grid products, making us vulnerable to supply shortages and price fluctuations, which could harm our business; many of our revenue opportunities are dependent upon subcontractors and other business collaborators; if we fail to implement our business strategy successfully, our financial performance could be harmed; problems with product quality or product performance may cause us to incur warranty expenses and may damage our market reputation and prevent us from achieving increased sales and market share; our contracts with the United States government are subject to audit, modification or termination by the United States government and include certain other provisions in favor of the government; the continued funding of such contracts remains subject to annual congressional appropriation which, if not approved, could reduce our revenue and lower or eliminate our profit; we may acquire additional complementary businesses or technologies, which may require us to incur substantial costs for which we may never realize the anticipated benefits; many of our customers outside of the United States are, either directly or indirectly, related to governmental entities, and we could be adversely affected by violations of the United States Foreign Corrupt Practices Act and similar worldwide anti-bribery laws outside the United States; we have limited experience in marketing and selling our superconductor products and system-level solutions, and our failure to effectively market and sell our products and solutions could lower our revenue and cash flow; we have a history of operating losses, and we may incur additional losses in the future; our operating results may fluctuate significantly from quarter to quarter and may fall below expectations in any particular fiscal quarter; our new debt obligations include certain covenants and other events of default. Should we not comply with the covenants or incur an event of default, we may be required to repay our debt obligations in cash, which could have an adverse effect on our liquidity; we have recorded a liability for adverse purchase commitments with certain of our vendors; should we be required to settle these liabilities in cash, our liquidity could be adversely affected; if we fail to maintain proper and effective internal controls over financial reporting, our ability to produce accurate and timely financial statements could be impaired and may lead investors and other users to lose confidence in our financial data; we may be required to issue performance bonds or provide letters of credit, which restricts our ability to access any cash used as collateral for the bonds or letters of credit; changes in exchange rates could adversely affect our results from operations; growth of the wind energy market depends largely on the availability and size of government subsidies and economic incentives; we depend on sales to customers in China, and global conditions could negatively affect our operating results or limit our ability to expand our operations outside of China; changes in China’s political, social, regulatory and economic environment may affect our financial performance; our products face intense competition, which could limit our ability to acquire or retain customers; our international operations are subject to risks that we do not face in the United States, which could have an adverse effect on our operating results; adverse changes in domestic and global economic conditions could adversely affect our operating results; we may be unable to adequately prevent disclosure of trade secrets and other proprietary information; our patents may not provide meaningful protection for our technology, which could result in us losing some or all of our market position; the commercial uses of superconductor products are limited today, and a widespread commercial market for our products may not develop; there are a number of technological challenges that must be successfully addressed before our superconductor products can gain widespread commercial acceptance, and our inability to address such technological challenges could adversely affect our ability to acquire customers for our products; we have not manufactured our Amperium wire in commercial quantities, and a failure to manufacture our Amperium wire in commercial quantities at acceptable cost and quality levels would substantially limit our future revenue and profit potential; third parties have or may acquire patents that cover the materials, processes and technologies we use or may use in the future to manufacture our Amperium products, and our success depends on our ability to license such patents or other proprietary rights; our technology and products could infringe intellectual property rights of others, which may require costly litigation and, if we are not successful, could cause us to pay substantial damages and disrupt our business; we have filed a demand for arbitration and other lawsuits against our former largest customer, Sinovel, regarding amounts we contend are overdue. We cannot be certain as to the outcome of these proceedings; we have been named as a party to purported stockholder class actions and stockholder derivative complaints, and we may be named in additional litigation, all of which will require significant management time and attention, result in significant legal expenses and may result in an unfavorable outcome, which could have a material adverse effect on our business, operating results and financial condition; our 7% convertible note contains provisions that could limit our ability to repay the note in shares of common stock and should the note be repaid in stock, shareholders could experience significant dilution; our common stock has experienced, and may continue to experience, significant market price and volume fluctuations, which may prevent our stockholders from selling our common stock at a profit and could lead to costly litigation against us that could divert our management’s attention; and new regulations related to conflict-free minerals may force us to incur additional expenses. These and the important factors discussed under the caption “Risk Factors” in Part II. Item 1A and Part 1. Item 1A of our Form 10-K/A for the fiscal year ended March 31, 2012, and our other reports filed with the SEC, among others, could cause actual results to differ materially from those indicated by forward-looking statements made herein and presented elsewhere by management from time to time. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

CONTACT: Kerry Farrell
         Phone: 978-842-3247
         Email: kerry.farrell@amsc.com

ModusLink (MLNK) Announces $30 Million Investment Agreement with Steel Partners Holdings L.P.

Steel Holdings agrees to acquire 7.5 million ModusLink shares at $4 per share, representing 45% premium Company announces settlement with Handy & Harman Ltd. in relation to upcoming annual meeting of stockholders

ModusLink Global Solutions^(TM),Inc. (NASDAQ: MLNK) today announced that it has entered into an investment agreement with Steel Partners Holdings L.P. (NYSE: SPLP, “Steel Holdings”), which together with certain affiliates, including Handy & Harman Ltd. (NASDAQ: HNH, “Handy & Harman”) (together, the “Steel Group”), beneficially owns 14.9 percent of ModusLink’s outstanding shares.

Under the terms of the agreement, Steel Holdings would purchase 7.5 million newly issued shares of common stock at a price of $4.00 per share, representing a cash investment in the Company, before fees and expenses, of $30 million. The $4.00 purchase price per share represents a 45 percent premium to the closing market price for ModusLink common stock on Friday, February 8, 2013.

In addition, at the closing of the transaction the Company would issue Steel Holdings warrants to acquire 2.0 million shares at an exercise price of $5.00 per share. In addition, the Steel Group may purchase up to approximately 1.4 million shares of ModusLink’s outstanding common stock, subject to proportionate adjustment. If all stock is purchased and all warrants are exercised as permitted under the agreement, the Steel Group would own approximately 32.6 percent of ModusLink’s outstanding shares. The investment is subject to certain enumerated closing conditions, including shareholder approval of the investment pursuant to Nasdaq Listing Rule 5635(b) and the election of two Steel Group designees to the ModusLink board of directors at the Company’s 2012 Annual Meeting of Stockholders (the “Annual Meeting”).

In connection with the investment agreement, ModusLink also announced that it has reached a settlement agreement with Handy & Harman in relation to the Annual Meeting. Under the terms of the settlement agreement, ModusLink has agreed to nominate and solicit proxies solely for the Steel Group representatives Warren G. Lichtenstein and Glen M. Kassan for election at the Annual Meeting as Class I directors. Mr. Lichtenstein is Chairman of the Board of Directors of Handy & Harman and Chairman of the Board and Chief Executive Officer of the general partner of Steel Holdings. Mr. Kassan is Vice Chairman of the Board of Directors of Handy & Harman and Managing Director at Steel Partners LLC. Handy & Harman has agreed to withdraw its preliminary proxy statement and to end its proxy solicitation, and has entered into certain other standstill arrangements with the Company.

Upon consummation of the investment, ModusLink Directors Edward E. Lucente and Joseph M. O’Donnell would step down from the Board, and current Chairman Francis J. Jules and Director and Audit Committee Chairman Michael J. Mardy, whose terms on the Board conclude at the Annual Meeting, would each be reappointed to the Board as Class II directors. In addition, at that time, Mr. Lichtenstein would be designated Chairman of the Board of the Company. The size of the Board would be fixed at seven directors immediately following the Annual Meeting.

ModusLink expects to announce the date and location of the Annual Meeting in connection with the filing of its definitive proxy statement concerning the transaction which will, in addition to seeking the election of the Steel Group representatives and approval of the investment, seek approval of the declassification of the Company’s Board of Directors such that the annual election of all directors would take place beginning at the 2013 annual meeting. The Board is submitting this latter proposal in response to the approval at the 2011 annual meeting of a shareholder proposal urging such change.

“The commitment of new capital from Steel Holdings at a significant premium to the recent price of ModusLink shares is a strong vote of confidence in ModusLink’s future by our largest stockholder,” said Mr. Jules. “The investment also validates the recent strategic changes and improvements the Company has undertaken, and further strengthens the Company’s balance sheet. We are also pleased to reach an agreement where the Company will be nominating Warren Lichtenstein and Glen Kassan, two highly qualified nominees, for election to ModusLink’s board of directors at our upcoming annual meeting. The Board looks forward to the opportunity to work with Warren and Glen to increase stockholder value.”

“We have worked constructively with ModusLink to reach these agreements and are excited by the opportunity to invest further in the Company’s future and to contribute significantly to the creation of value for all ModusLink stockholders,” said Mr. Lichtenstein. “I believe ModusLink has considerable potential for value creation as evidenced by Steel Holdings’ investment. I also believe that Glen and I are well suited to help the Company towards that objective and we look forward to working with the rest of the Board and ModusLink management to that end.”

Complete details of the investment agreement and settlement agreement will be contained in the Company’s Current Report on Form 8-K, which will be filed with the Securities and Exchange Commission.

Goldman, Sachs & Co. is serving as financial advisor and Latham & Watkins LLP is serving as legal counsel to ModusLink. Olshan Frome Wolosky LLP is serving as legal counsel to Steel Holdings and Handy & Harman.

About Warren G. Lichtenstein

Warren G. Lichtenstein has served as the Chairman of the Board and Chief Executive Officer of the general partner of Steel Holdings, a global diversified holding company that owns and operates businesses and has significant interests in leading companies in a variety of industries, including diversified industrial products, energy, defense, banking, and food products and services, since July 15, 2009. He is also the Chairman and Chief Executive Officer of Steel Partners LLC, a subsidiary of Steel Holdings, and has been associated with Steel Partners LLC and its affiliates since 1990. Mr. Lichtenstein has served as Chairman of the Board of Handy & Harman, a diversified global industrial company, since July 2005. He is a Co−Founder of Steel Partners Japan Strategic Fund (Offshore), L.P., a private investment partnership investing in Japan, and Steel Partners China Access I LP, a private equity partnership investing in China. He also co−founded Steel Partners II, L.P., a private investment partnership that is now a wholly−owned subsidiary of Steel Holdings, in 1993. Mr. Lichtenstein has served as a director of GenCorp Inc., a manufacturer of aerospace and defense products and systems with a real estate business segment, since March 2008. He has served as a director of SL Industries, Inc. (“SLI”), a company that designs, manufactures and markets power electronics, motion control, power protection, power quality electromagnetic and specialized communication equipment, since March 2010. From May 2001 to November 2007, Mr. Lichtenstein served as a director (formerly Chairman of the Board) of United Industrial Corporation (“United Industrial”), a company principally focused on the design, production and support of defense systems, which was acquired by Textron Inc.

About Glen M. Kassan

Glen M. Kassan is a Managing Director and operating partner of Steel Partners LLC, a global management firm, and has been associated with Steel Partners LLC and its affiliates since August 1999. Mr. Kassan served as the Vice President, Chief Financial Officer and Secretary of a predecessor entity of Steel Holdings from June 2000 to April 2007. Mr. Kassan has served as a director of Handy & Harman since July 2005, as the Vice Chairman of the Board since October 2005 and as Chief Executive Officer from 2005 to 2012. He has served as a director of SLI since January 2002 and its Chairman of the Board since May 2008. He previously served as SLI’s Vice Chairman of the Board from August 2005 to May 2008, its President from February 2002 to August 2005, its interim Chief Executive Officer from June 14, 2010 to June 29, 2010 and its interim Chief Financial Officer from June 14, 2010 to August 30, 2010. He was a director of United Industrial from October 2002 to November 2007.

About ModusLink Global Solutions

ModusLink Global Solutions Inc. (NASDAQ: MLNK) executes comprehensive supply chain and logistics services that improve clients’ revenue, cost, sustainability and customer experience objectives. ModusLink is a trusted and integrated provider to the world’s leading companies in consumer electronics, communications, computing, medical devices, software, luxury goods and retail. The Company’s operating infrastructure annually supports more than $80 billion of its clients’ revenue and manages approximately 470 million product shipments through more than 30 sites in 15 countries across North America, Europe, and the Asia/Pacific region. For details on ModusLink’s flexible and scalable solutions visit www.moduslink.com and www.valueunchained.com, the blog for supply chain professionals.

ModusLink Global Solutions is a registered trademark of ModusLink Global Solutions, Inc. All other company names and products are trademarks or registered trademarks of their respective companies.

Important Additional Information

ModusLink, its directors and certain of its executive officers and employees are participants in a solicitation of proxies in connection with its 2012 annual meeting of stockholders (the “2012 Annual Meeting”). Important information concerning the identity and interests of these persons is available in ModusLink’s preliminary proxy statement filed with the Securities and Exchange Commission (the “SEC”) on December 21, 2012, as amended on January 7, 2013. ModusLink plans to file with the SEC and mail to its stockholders a definitive proxy statement in connection with the 2012 Annual Meeting. Information regarding the identity of the participants, and their direct or indirect interests, by security holdings or otherwise, is set forth in the preliminary proxy statement and ModusLink’s Annual Report on Form 10-K for the year ended July 31, 2012. To the extent holdings of ModusLink securities have changed since the amounts printed in the preliminary proxy statement for the 2012 Annual Meeting, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC.

Copies of ModusLink’s preliminary proxy statement, any other relevant documents and other materials filed with the SEC concerning ModusLink, when filed, may be obtained free of charge at http://www.sec.gov and http://www.ir.moduslink.com. Stockholders should carefully read the proxy statement and the accompanying proxy card when they become available before making any voting decision.

Forward-Looking Statements

This press release contains forward-looking statements, which address a variety of subjects including, for example, the consummation and impact of the announced transaction and the Company’s prospects for creating value for stockholders. All statements other than statements of historical fact, including without limitation, those with respect to the Company’s goals, plans, expectations and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: the announced transaction is subject to certain enumerated closing conditions and there can be no assurance that such conditions will be met and the transaction will be consummated; the Company’s success, including its ability to meet its revenue, operating income and cost savings targets, maintain and improve its cash position, expand its operations and revenue, lower its costs, improve its gross margins, reach and sustain profitability, reach its long-term objectives and operate optimally, depends on its ability to execute on its business strategy, including the investment and costs savings plan and the continued and increased demand for and market acceptance of its services; global economic conditions, especially in the technology sector are uncertain and subject to volatility; demand for our clients’ products may decline or may not achieve the levels anticipated by our clients; the Company’s management may face strain on managerial and operational resources as they try to oversee the expanded operations; the Company may not realize the expected benefits of its restructuring and cost cutting actions; the Company may not be able to expand its operations in accordance with its business strategy; the Company’s cash balances may not be sufficient to allow the Company to meet all of its business and investment goals; the Company may experience difficulties integrating technologies, operations and personnel in accordance with its business strategy; the Company derives a significant portion of its revenue from a small number of customers and the loss of any of those customers could significantly damage the Company’s financial condition and results of operations; the Company frequently sells to its supply chain management clients on a purchase order basis rather than pursuant to contracts with minimum purchase requirements, and therefore its sales and the amount of projected revenue that is actually realized are subject to demand variability; risks inherent with conducting international operations; tax rate expectations are based on current tax law and current expected income and may be affected by the jurisdictions in which profits are determined to be earned and taxed, changes in estimates of credits, benefits and deductions, the resolution of issues arising from tax audits with various tax authorities, including payment of interest and penalties and the ability to realize deferred tax assets; the potential tax benefits represented by the net operating loss carryforwards may not be realized and the tax benefit preservation plan may not be effective in preserving those benefits; the mergers and acquisitions and IPO markets are inherently unpredictable and liquidity events for companies in the Company’s venture capital portfolio may not occur; and increased competition and technological changes in the markets in which the Company competes. For a detailed discussion of cautionary statements that may affect the Company’s future results of operations and financial results, please refer to the Company’s filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Forward-looking statements represent management’s current expectations and are inherently uncertain. We do not undertake any obligation to update forward-looking statements made by us.

Medical Action Industries (MDCI) Reports Third Quarter Fiscal 2013 Results

BRENTWOOD, N.Y., Feb. 11, 2013 (GLOBE NEWSWIRE) — Medical Action Industries Inc. (Nasdaq:MDCI), a leading supplier of medical and surgical disposable products, today reported financial results for the third quarter ended December 31, 2012, including quarterly net sales of $109.4 million and gross profit of $19.1 million (the highest in Company history) or 17.5% of net sales. The Company generated non-GAAP net income (before a goodwill impairment charge and certain professional fees) of $1.6 million⁽¹⁾or $0.10⁽¹⁾ per diluted share and EBITDA, as adjusted, of $6.1 million⁽²⁾. These gross profit, non-GAAP net income and EBITDA, as adjusted results represent significant increases versus the comparable non-GAAP results for the same period of fiscal 2012. On a GAAP basis, the Company reported a net loss of $55.5 million or $3.39 per diluted share, principally related to the impairment of goodwill of $56.8 million, net of income tax benefit, determined in connection with the Company’s annual goodwill impairment test as of December 31, 2012.

For the nine months ended December 31, 2012, the Company reported net sales of $333.7 million, gross profit of $53.5 million or 16.0% of net sales, non-GAAP net income of $2.0 million⁽¹⁾ or $0.12⁽¹⁾ per diluted share and EBITDA, as adjusted, of $14.1 million⁽²⁾, all of which exceeded the comparable non-GAAP results for the first nine months of fiscal 2012. On a GAAP basis, the Company reported a net loss of $55.6 million or $3.39 per diluted share. Additionally, since March 31, 2012, the Company has reduced the balance outstanding under its debt facilities by $21.3 million.

Paul D. Meringolo, Chief Executive Officer and President said, “We have made significant improvements in our gross profit culminating with the $19.1 million reported during the third quarter, which is the highest quarterly amount in the Company’s thirty-six year history. This improvement in gross profit is the result of management’s cost savings initiatives, elimination of unprofitable sales, as well as a reduction in raw material costs. Since June 2012, when the Company was realigned into strategic business units, management’s focus on targeted markets has improved considerably and the action plans centered on improving profit and containing costs have yielded the year over year and sequential gross profit improvements we are reporting today. We have been able to make these impressive strides by improving upon our internal operations and management effectiveness without compromising our focus on delivering exceptional service and value to our customers. We still have challenges and opportunities ahead of us and I am extremely pleased at the success we have had in the last several months as we have refocused the Company. Finally, I am excited about the opportunity to work with our interim Chief Operating Officer, Paul Chapman, on continuing to drive improvements in profit and cost containment.”

Quarter Results

Net sales for the third quarter were $109.4 million, down $3.6 million or 3.2% from net sales of $113.0 million for the third quarter of last year. This modest decrease results in part from management’s efforts to focus on profitable business and to decrease or eliminate unprofitable or non-core sales. The reported gross profit of $19.1 million, or 17.5% of net sales, represents a record result for the Company while the gross margin percentage is the highest in two years. By comparison, gross profit in the prior year period amounted to $17.1 million or 15.2% of net sales. This improvement in gross profit is the result of management’s cost savings initiatives, elimination of unprofitable sales, as well as a reduction in raw material costs.

On a GAAP basis, the Company reported a net loss of $55.5 million or $3.39 per diluted share, compared to reported net income of $1.8 million or $0.11 per diluted share for the same period of fiscal 2012. The results for the third quarter were impacted by a non-recurring, non-cash goodwill impairment charge of $78.6 million and $0.5 million of professional fees related to our renegotiated credit agreement. The after-tax impact of the goodwill impairment charge was $56.8 million and $0.3 million for the professional fees. The goodwill impairment was determined as part of the Company’s regular annual impairment test and had no effect on the Company’s cash position. The results for the same period of fiscal 2012 benefitted from a bonus accrual reversal of $1.8 million, net of applicable taxes, related to a reduction in the Company’s bonus accrual which was precipitated by the failure to meet certain operational performance objectives.

On a non-GAAP basis, the Company generated non-GAAP net income (before a goodwill impairment charge and certain professional fees) of $1.6 million⁽¹⁾or $0.10⁽¹⁾ per diluted share for the third quarter compared to a non-GAAP net income (before bonus accrual reversal) of less than $0.1 million⁽¹⁾ or $0.00⁽¹⁾ per diluted share for the same period of fiscal 2012. EBITDA, as adjusted, for the third quarter was $6.1 million⁽²⁾ compared to $3.8 million⁽²⁾ for the same period of fiscal 2012.

Year-to-Date Results

Net sales for the nine months ended December 31, 2012 were $333.7 million, an increase of $4.6 million or 1.4% from net sales of $329.1 million for the first nine months of fiscal 2012. Our gross profit of $53.5 million or 16.0% of net sales has improved compared to the gross profit of $50.8 million or 15.4% for the first nine months of fiscal 2012. This improvement in gross profit is the result of management’s cost savings initiatives, elimination of unprofitable sales, as well as a reduction in raw material costs.

On a GAAP basis, the Company reported a net loss of $55.6 million or $3.39 per diluted share, compared to reported net income of $2.6 million or $0.16 per diluted share for the same period of fiscal 2012. The results for the nine months ended December 31, 2012 were impacted by the previously described goodwill impairment charge of $78.6 million ($56.8 million after income tax benefit) and $1.1 million of professional fees ($0.7 million after income tax benefit) related to our renegotiated credit agreement. The results for the same period of fiscal 2012 benefitted from the aforementioned bonus accrual reduction of $1.8 million, net of applicable taxes, and an extraordinary gain of $0.4 million, net of applicable taxes, resulting from an insurance settlement associated with damaged inventories.

On a non-GAAP basis, the Company generated non-GAAP net income (before a goodwill impairment charge and certain professional fees) of $2.0 million⁽¹⁾or $0.12⁽¹⁾ per diluted share for the nine months ended December 31, 2012 compared to non-GAAP net income (before bonus accrual reversal and extraordinary gain) of $0.4 million⁽¹⁾ or $0.03⁽¹⁾ per diluted share for the first nine months of fiscal 2012.  EBITDA, as adjusted, for the nine months ended December 31, 2012 was $14.1 million⁽²⁾ compared to $12.2 million⁽²⁾ for the first nine months of fiscal 2012.

Liquidity and Capital Resources

The balance of cash and cash equivalents was $0.2 million at December 31, 2012, down $5.2 million from March 31, 2012. For the nine months ended December 31, 2012, the Company reported cash generated by operating activities of $17.5 million compared to cash generated by operating activities of $3.6 million for the first nine months of fiscal 2012. The Company manages cash and cash equivalent balances to minimize the amounts outstanding under its revolving credit facility in an effort to reduce borrowing costs. As of December 31, 2012, the Company had $10.7 million available for additional borrowing under its revolving credit facility.

The Company’s outstanding debt on its credit facility was $54.4 million at December 31, 2012, down $21.3 million from March 31, 2012. The credit facility consists of; (i) a term loan with $49.0 million outstanding at December 31, 2012 and (ii) a revolving credit facility with $5.3 million outstanding at December 31, 2012. As of December 31, 2012, the Company is in compliance with all covenants and financial ratios applicable under our credit facility. Furthermore, we believe that the anticipated future cash flow from operations, coupled with our cash on hand and available funds under our revolving credit facility will be sufficient to meet working capital requirements.

Investors Conference Call

Medical Action invites its stockholders and other interested parties to attend its conference call at 10:00 a.m. (ET) on February 11, 2013. You may listen to the conference call by calling (888) 868-9080 (domestic) or (973) 935-8511 (international); conference ID #97614083. The conference call will be simultaneously web cast on our website: www.medical-action.com. The complete call and discussion will be available for replay on our website beginning at 1:00 p.m. (ET) on February 11, 2013.

About Medical Action Industries Inc.

Medical Action Industries Inc. (Nasdaq:MDCI), is a diversified manufacturer and distributor of disposable medical devices and a leader in many of the markets where it competes. Its products are marketed primarily to acute care facilities in domestic and certain international markets. The Company has expanded its target market to include physician, dental and veterinary offices, out-patient surgery centers, long-term care facilities and laboratories. Medical Action’s products are marketed nationally by its direct sales personnel and extensive network of healthcare distributors. The Company has preferred vendor agreements with national and regional distributors, as well as sole and multi-source agreements with group purchasing organizations. Medical Action’s common stock trades on the NASDAQ Global Select Market under the symbol MDCI and is included in the Russell Microcap^® Index.

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements for purposes of these provisions, including any projections of earnings, revenues or other financial items, any statements of the plans and objectives for management for future operations, any statements concerning proposed new products or services, any statements regarding future economic conditions or performance, and any statements of assumptions underlying any of the foregoing. All forward-looking statements included in this news release are made as of the date hereof and are based on information available to us as of such date. The Company assumes no obligation to update any forward-looking statement. In some cases, forward-looking statements can be identified by the use of terminology such as “may,” “will,” “expects,” “plans,” “anticipates,” “intends,” “believes,” “estimates,” “potential,” or “continue,” or the negative thereof or other comparable terminology. Although the Company believes that the expectations reflected in the forward-looking statements contained herein are reasonable, there can be no assurance that such expectations or any of the forward-looking statements will prove to be correct, and actual results could differ materially from those projected or assumed in the forward-looking statements. Future financial condition and results of operations, as well as any forward-looking statements, are subject to inherent risks and uncertainties, including manufacturing inefficiencies, termination or interruption of relationships with our suppliers, potential delays in obtaining regulatory approvals, product recalls, product liability claims, our inability to successfully manage growth through acquisitions, our failure to comply with governing regulations, risks of international procurement of raw materials and finished goods, market acceptance of our products, market price of our Common Stock, foreign currency fluctuations, resin volatility and other factors referred to in our press releases and reports filed with the Securities and Exchange Commission (the “SEC”). Please see the Company’s filings with the SEC, including, without limitation, the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Qs, which identify specific factors that would cause actual results or events to differ materially from those described in the forward-looking statements.

Footnotes

The press release includes the use of non-GAAP financial measures that are not prepared in accordance with U.S. generally accepted accounting principles and that exclude the effects of a goodwill impairment charge recognized during the three months ended December 31, 2012 and professional fees related to our renegotiated credit agreement incurred during the three and nine months ended December 31, 2012 as well as a bonus accrual reversal and extraordinary gain reported during the comparable prior periods of fiscal 2012. These non-GAAP financial measures should not be considered a substitute for measures of financial performance prepared in accordance with GAAP. These non-GAAP financial measures have been used in this press release because management believes they are useful to investors by providing greater transparency to Medical Action’s operating performance.

(1) Reconciliation of net income (loss) to non-GAAP net income and non-GAAP earnings per share

(2) Reconciliation of net income (loss) to EBITDA and EBITDA, as adjusted

EBITDA is defined as earnings (loss) before interest, income taxes, depreciation and amortization.  EBITDA is a non-GAAP financial measure.

EBITDA, as adjusted represents EBITDA as defined above adjusted for a goodwill impairment charge recognized during the three months ended December 31, 2012, professional fees related to our renegotiated credit agreement recognized during the three and nine months ended December 31, 2012, a bonus accrual reversal and extraordinary gain recognized during the three and nine months ended December 31, 2011 and stock-based compensation.  Stock-based compensation represents compensation expenses associated with stock options and restricted stock.

Management believes EBITDA and EBITDA, as adjusted, to be meaningful indicators of our performance that provides useful information to investors regarding our financial condition and results of operations. Presentations of EBITDA and EBITDA, as adjusted, are non-GAAP financial measures commonly used by financial analysts and our lenders to measure operating performance.  While management considers EBITDA and EBITDA, as adjusted, to be important measures of comparative operating performance, they should be considered in addition to, but not as a substitute for, net income and other measures of financial performance reported in accordance with GAAP.  EBITDA and EBITDA, as adjusted do not reflect cash available to fund cash requirements.  Not all companies calculate EBITDA or EBITDA, as adjusted in the same manner and the measure as presented may not be comparable to similarly-titled measures presented by other companies.

CONTACT: John Sheffield
         Executive Vice President and Chief Financial Officer
         MEDICAL ACTION INDUSTRIES INC.
         (631) 231-4600