Cubic (QBC) Enters Into an Agreement to Acquire East Texas EagleBine Assets

Acquisition Includes Approximately 31,800 Gross/16,300 Net Acres in the EagleBine & Deep Bossier Play Located in Leon & Robertson Counties, Texas

DALLAS, April 22, 2013 (GLOBE NEWSWIRE) — Cubic Energy, Inc. (NYSE MKT:QBC) (“Cubic” or the “Company”) announces today that it has entered into a definitive agreement to acquire proven reserves, oil & natural gas production and undeveloped leasehold interest in Leon and Robertson Counties, Texas from Gastar Exploration Texas, LP (“GETLP”). The acquisition price to be paid by Cubic is $46,000,000 and includes drilling rights on approximately 16,300 net acres and production of approximately 2,050 boepd (97% gas: 3% oil) using a 6:1 conversion rate. The transaction is expected to close on or before June 5, 2013, subject to customary due diligence and closing adjustments, and with a property purchase price effective January 1, 2013 for purposes of allocating revenues and expenses and capital costs between GETLP and Cubic.

Calvin A. Wallen III, Cubic’s Chairman, CEO & President stated, “We are excited to take the first step in transitioning Cubic to a diversified oil & natural gas company. As Cubic moves forward with additional acquisitions, the East Texas EagleBine Assets will prove to be a critical first step with its upside in the oil rich Cretaceous Zone, including the Eagleford & Woodbine intervals. The asset also gives us great flexibility with the deeper Bossier, a prolific and highly commercial play that we have the option to develop as natural gas pricing improves.”

Cubic Energy, Inc. is an independent company engaged in the development and production of, and exploration for, crude oil and natural gas. The Company’s oil and gas assets and activity are currently concentrated primarily in the Cotton Valley and Haynesville Shale Play located in Northwest Louisiana.   Additional information can be found on Cubic’s website at: www.cubicenergyinc.com.

If you would like to be added to Cubic’s email distribution list, please email your name and email address to Donna Luedtke, Investor Relations at donna@cubicenergyinc.com. This email distribution list is notified of all news events (including press releases and scheduled investor conference calls).

This press release includes statements, which may constitute “forward-looking” statements, usually containing the words “believe,” “intend,” “estimate,” “project,” “expect,” or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in oil and natural gas prices, the ability to close the purchase of desirable oil and/or natural gas assets, the availability of capital for development of mineral projects and other projects, the availability of capital to satisfy debt obligations, the ability to maintain the listing of the Company’s common stock on NYSE MKT, dependency on pipelines in which to sell the Company’s natural gas it produces, reliance on third party operators for wells in which the Company maintains a working interest, reliance on third party contractors to aid in developing the production infrastructure and in the performance of well completion work, and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release. There can be no assurance that any future activities and/or transactions mentioned in this press release will occur as planned. Cubic cannot guarantee the timing of the drilling or any level of production from its wells.

CONTACT: Donna Luedtke
         Investor Relations
         Website: www.cubicenergyinc.com
         Phone: (972) 686-0369
         Email: donna@cubicenergyinc.com

(CNIT) Announces Q4 And Year End 2012 Results

SHENZHEN, China, April 22, 2013 /PRNewswire/ — China Information Technology, Inc. (Nasdaq: CNIT) (the “Company”, “our” or “we”), a leading provider of information technologies and display technologies (“DT’) based in China, today announced its financial results for the fourth quarter and fiscal year ended December 31, 2012.

Fourth Quarter 2012 Financial Highlights

• Revenues decreased by 5.9% YoY to $29.4 million
• Gross profit decreased by 8.7% YoY to $8.5 million
• Operating loss of $45.4 million mainly due to increases in goodwill and other long-lived impairments and bad debt reserves
• Net loss of $48.5 million; adjusted net loss of $23.1 million
• Fully diluted net loss per share of $1.79;
• Adjusted fully diluted net loss per share of $0.86
• Cash flow from operations decreased 89.0% to $1.0 million

Year 2012 Financial Highlights

• Revenues decreased 24.6% YoY to $86.4 million
• Gross profit decreased 53.7% YoY to $20.5 million
• Operating loss of $85.7 million
• Net loss of $89.6 million; adjusted net loss of $46.8 million
• Fully diluted net loss per share of $3.32;
• Adjusted fully diluted net loss per share of $1.73
• Cash flow from operations decreased 157.1% to a cash outflow of $9.3 million

Mr. Jiang Huai Lin, Chairman and Chief Executive Officer of the company, commented, “During 2012, challenging macro environment and tight government fiscal policies in China continued to have a negative impact on our businesses, especially in our government-client based IT segment. Although our revenues for the full year 2012 decreased by 24.6% as compared with 2011, we continued to reap from our business transition strategy with tremendous efforts being invested in the display technology segment during past quarters. Our digital technology (DT) business continued to make more significant contributions to our overall sales mix, representing 53.8% of total revenue for the year, versus 40.5% in 2011.”

“Despite overall revenue decline, our DT business maintained its sales volume of the previous year. We secured and completed numerous important contracts in our DT segment under China’s “Digital Campus” initiative, including a $10 million contract with education clients in Anhui Province. We expect our robust implementation of this pilot project will lead to greater opportunities with rollout of more education information technology initiatives in China. According to Chinabaogao.com, the IT spending in China’s education industry reached RMB 43.9 billion in 2012, with a 20.9% annual growth rate. Furthermore, by leveraging our strong capabilities in software development to broaden and enhance our DT product features, and by introducing web-enabled services, including an advanced cloud distribution system embedded in our digital signage panel (DS-Pad) products, we are well positioned to meet the anticipated demand of our emerging markets.”

“In our IT segment, despite significant downturn of our traditional core digital public security business, we achieved healthy year-over-year growth in our GIS and DHIS sections, as we continued to win contracts related to China’s “Smart Grid”, “Map World” and health and medical reform initiatives. We also look to capture other IT market opportunities in China such as the newly launched “Smart City” plan, an initiative that focuses on the technologies of the Internet of Things and cloud computing and also embraces sectors such as transportation, healthcare and public security. According to CCID Consulting, the IT spending of China’s Smart City initiative will reach RMB 170 billion by 2014.”

“The year of 2013 will be important for us as the company expects to finish the final phase of its strategic transition process. We also expect in the second half of the year to see momentum picking up in some of the new key sectors especially digital education.  We have been channeling resources within our operations to synergize different elements between our DT and IT segments in an effort to create innovative and value-added product offerings. A good example is our new integrated offerings which comprise enhanced display technologies, proprietary software, and web technologies that will provide our customers with seamless and fully-integrated hardware, software, and cloud-based services that will allow the company to enhance profitability and generate recurring revenues.”

Fourth Quarter 2012 Results  

Revenue

For Q4 2012, revenue was $29.4 million, compared to $31.2 million in Q4 2011, a decrease of $1.8 million, or 5.8%. The decline in total revenue was primarily due to the continued slowdown in projects for the Company’s government customers, which have traditionally been its core customer base; and secondarily due to the Company’s conscious effort to realign its business operations between IT and DT and between government and non-government customers.

Product sales decreased by $1.0 million, or 7.0%, to $13.3 million in Q4 2012, as compared to $14.3 million in Q4 2011. Product sales constituted 45.3% of total revenue during the current period as compared with 45.7% during the prior year. The product sales decrease was primarily due to the Company’s strategy of shifting from low-end to high-end DT products and lower prices of traditional LCD TV products in the midst of a challenging global business environment.

Software sales decreased by 34.4% to $6.1 million in Q4 2012, from $9.3 million for the three months ended December 31, 2011, mainly due to the continued sluggishness in the Company’s government client sector in light of the challenging government fiscal policies and our more stringent client acceptance policies. Software sales constituted 20.7% of total revenue, as compared to 29.8% during the prior year.

Sales of system integration services increased by 30.7% to $9.8 million in Q4 2012, as compared to $7.5 million in Q4 2011. As a percentage of revenue, it increased to 33.2% during Q4 2012 as compared with 24.0% during Q4 2011.

Other revenue was $217,899 in Q4 2012, an increase of 25.9%, from $173,101 in Q4 2011.

Gross Profit and Gross Margin

Cost of revenues decreased $1.1 million, or 5%, to $20.9 million in Q4 2012, from $22.0 million in Q4 2011. As a result, gross margin was 28.8% in Q4 2012, a decrease of 88 basis points, from 29.6% in Q4 2011.

The decrease in the overall gross margin resulted from a number of factors, including revenue shifting from the IT segment to the DT segment, lower software revenues, lower system integration gross margins, and lower prices of LCD TV products, while the cost of manufacturing rose during Q4 2012.

Administrative Expenses

Total administrative expenses increased by $18.8 million, or 160.0%, to $30.5 million in Q4 2012, from $11.7 million in Q4 2011. As a percentage of revenue, administrative expenses increased to 103.7% in Q4 2012, from 37.5% for Q4 2011.

Notable changes that resulted in increased administrative expenses included: (1) an increase of $13.3 million in provision of accounts receivable; (2) an increase of $4.1 million in impairment of purchased software; and (3) an increase of $2.8 million in depreciation and amortization expenses. The increase in the provision of accounts receivable was due mainly to the continued sluggishness in the Company’s government client sector relating to the digital public security business in light of the challenging government fiscal policies. The impairment of purchased software reflected the declining market value of certain purchased software in light of the protracted challenging environment in the Chinese government software segment.

Research and Development Expenses

Research and development expenses decreased to $0.9 million in Q4 2012 from $1.5 million in Q4 2011, a decrease of $0.6 million, or 40.6%. As a percentage of revenue, research and development expenses decreased to 3.0% in Q4 2012, from 4.8% in Q4 2011.

Selling Expenses

Selling expenses increased $1.2 million in Q4 2012, or 52.2%, to $3.4 million, from $2.3 million in Q4 2011. As a percentage of revenue, selling expenses increased to 11.7% for Q4 2012, from 7.2% in Q4 2011. This increase was primarily due to the Company’s efforts to introduce new products during the quarter.

Impairment of goodwill

In light of the negative impact as a result of the falling economic growth, stringent macro policies, and declining industry trends especially in the traditional hardware display sector, the Company tested its goodwill for impairment during the second quarter of 2012 and the fourth quarter 2012. After analyzing the various operations and reporting units, the Company came to the conclusion that a goodwill impairment loss was probable, and consequently recognized a goodwill impairment loss of $19.0 million during Q4 2012 based on its best estimation.

Loss from Operations

Loss from operations was $45.4 million in Q4 2012, representing an increase of loss in an amount of $39.2 million, from a loss of $6.2 million in Q4 2011.

Net Loss Attributable to the Company

As a result of the foregoing factors, net loss attributable to the Company decreased by $41.6 million to a loss of $48.5 million in Q4 2012, from $6.8 million in Q4 2011.

Cash and Cash Equivalents

As of December 31, 2012, the Company had $10.7 million in cash and cash equivalents, and $10.3 million in restricted cash, as compared to $14.0 million in cash and cash equivalents, and $12.5 million in restricted cash as of December 31, 2011. During Q4 2012, cash provided by operating activities amounted to $1.0 million, a decrease of 89.0% from $9.1 million in Q4 2011.

Year 2012 Results

Revenue

For FY 2012, revenue was $86.4 million, compared to $114.5 million for FY 2011, a decrease of $28.2 million, or 24.6%. The decrease was primarily due to challenging macro environment and difficult fiscal environment faced by many public sector clients as a result of the Chinese government’s implementation of macroeconomic tightening policies, which led to a slowdown in projects for government customers, which traditionally have been the Company’s core customer base; and, secondarily, due to the Company’s conscious effort to realign its business operations to create a better revenue mix between IT and DT segments and between government and non-government customers.

Product sales decreased by $0.75 million, or 1.60%, to $45.7 million for FY 2012, as compared to $46.4 million for FY 2011. Product sales constituted 52.9% of total revenue during 2012 as compared with 40.5% during 2011. The increase in product sales as a percentage of total revenue primarily reflected the Company’s successful marketing campaign in promoting new DT products, its ability to win significant large DT projects in the emerging China digital education market during 2012.

Software sales decreased by $20.7 million, or 52.7%, to $18.60 million for FY 2012, from $39.3 million for FY 2011. Software sales constituted 21.5% of total revenue during 2012, compared with 34.3% during 2011. The decrease was mainly due to the Chinese government’s continued austere fiscal policies and the curtailment of the massive government economic stimulus package, which led to a slowdown in software projects for our government customers. In addition, the Company instituted more stringent customer acceptance policies, which limited new projects to those with more solid credit credentials and long-term business prospects in light of the unfavorable government fiscal environment.

Sales of system integration services decreased by $6.8 million, or 24.5%, to $20.9 million for FY 2012, as compared to $27.7 million for FY 2011. As a percentage of revenue, it was 24.2% the same as in 2011. The decrease was mainly the result of the relatively sluggish macro-economic growth in 2012 and a lack of new large system integration solutions engagements in connection with large projects comparable to the Shenzhen Summer Universiade, which was held in August 2011.

Other revenue increased from $1.1 million for FY 2011 to $1.2 million for FY 2012, an increase of $0.1 million, or 5.7%. Other revenue was mainly derived from maintenance services.

Cost of revenue and gross profit

Cost of revenue decreased by $4.3 million, or 6.2%, to $65.9 million for FY 2012, from $70.2 million for FY 2011. As a percentage of revenue, cost of revenue increased to 76.3% for FY 2012, from 61.3% for FY 2011. As a result, gross profit as a percentage of revenue was 23.7% for FY 2012, a decrease of 1,496 basis points from 38.7% for FY 2011.

The decrease in gross profit margins resulted from several factors. First, in the year ended December 31, 2012, the Company continued its efforts to increase DT solutions as a percentage of total revenue. The percentage of DT revenue increased from 40.4% for FY 2011 to 53.8% for FY 2012. The significant increase in contribution from DT revenue resulted in a decrease in gross profit margin for FY 2012, as DT solutions business generally has lower average gross margins than other segments of our business. Secondly, due to the Chinese government’s implementation of macroeconomic tightening policies, the Company’s government customers reduced software project orders. As a result, the percentage of software revenue decreased from 34.3% for FY 2011 to 21.5% for FY 2012.  Our software business typically command higher gross margins that other business segments.

Administrative expenses

Administrative expenses increased by $41.8 million, or 183.5%, to $64.6 million for FY 2012, from $22.8 million for FY 2011. As a percentage of revenue, administrative expenses increased to 74.8% for 2012, from 19.9% for 2011. Notable changes that resulted in increased administrative expenses included: (1) an additional $2.2 million in inventory write downs; (2) an increase of $20.1 million in provision of accounts receivable; (3) an increase of $1.2 million in depreciation and amortization expenses; and (4) an increase of $11.8 million in impairment of purchased software. DT segment’s inventory was written down mainly because the business has been shifting away from the traditional LCD business which has been facing a global decline. The increase in the provision of account receivable was due mainly to the continued sluggishness in the Company’s government client sector relating to the digital public security business in light of the challenging government fiscal policies. The impairment of purchased software reflected the declining market value of certain purchased software in light of the protracted challenging environment in the Chinese government software segment.

Research and development expenses

Research and development expenses increased by $0.5 million, or 10.5%, to $5.0 million for FY 2012, from $4.5 million for FY 2011. As a percentage of revenue, research and development expenses increased to 5.7% for 2012, from 3.9% in 2011. Such increase was primarily due to the Company’s efforts to develop new products as well as to improve the future profitability of existing products.

Selling expenses

Selling expenses increased by $2.3 million, or 30.1%, to $9.8 million for FY2012, from $7.5 million for FY 2011. As a percentage of revenue, selling expenses increased to 11.3% for FY 2012, from 6.6% for FY 2011. This increase was due to new product launches, increasingly nationwide market expansion, which requires increased travel, promotional, and telecommunication expenses, as well as increased total compensation to sales and marketing staff.

Impairment of goodwill

In light of the negative impact as a result of the falling economic growth, stringent macro policies, and declining industry trends especially in the traditional hardware display sector, we tested goodwill for impairment in the fourth quarter of 2012. After analyzing the various operations and reporting units, the Company came to the conclusion that a goodwill impairment loss was probable, and consequently recognized a goodwill impairment loss of $26.8 million for FY 2012 based on its best estimation.

Net loss attributable to the Company

Net loss attributable to the Company was $89.6 million for FY 2012, as compared to a net income of $7.9 million for FY 2011.

Cash and Cash Equivalents

During the year ended December 31, 2012, net cash used in operating activities was $9.3 million, as compared to an operating net cash inflow of $16.3 million in the same period of 2011. The decrease was primarily due to business operational loss during the year ended December 31, 2012.

About Non-GAAP Financial Measures

This press release contains non-GAAP financial measures for earnings that exclude non-cash charges. The Company believes that these non-GAAP financial measures are useful to investors because they exclude non-cash charges that management excludes when it internally evaluates the performance of the Company’s business and makes operating decisions, including internal budgeting, and performance measurement, as these measures provide a consistent method of comparison to historical periods. Moreover, management believes these non-GAAP measures reflect the essential operating activities of the Company. Accordingly, management excludes the expense arising from certain non-cash charges when making operational decisions. The Company also believes that providing the non-GAAP measures that management uses to its investors is useful to investors for a number of reasons. The non-GAAP measures provide a consistent basis for investors to understand the Company’s financial performance in comparison to historical periods. In addition, it allows investors to evaluate the Company’s performance using the same methodology and information as that used by the Company’s management. Non-GAAP measures are subject to inherent limitations because they do not include all of the expenses included under GAAP and because they involve the exercise of judgment of which charges are excluded from the non-GAAP financial measure. However, the Company’s management compensates for these limitations by providing the relevant disclosure of the items excluded.

The following table presents the non-GAAP financial measures contained in this press release and the most directly comparable GAAP measures and provides a reconciliation of the non-GAAP measures to the most directly comparable GAAP measures.

About China Information Technology, Inc.

China Information Technology, Inc., through its subsidiaries and other consolidated entities, specializes in geographic information systems (GIS), digital public security technology (DPST), and hospital information systems (HIS), as well as high-end digital display products and solutions in China. Headquartered in Shenzhen, China, the Company’s integrated solutions include specialized software, hardware, systems integration, and related services to help its customers improve efficiency in information management. To learn more about the Company, please visit its corporate website at http://www.chinacnit.com.

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of China Information Technology, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein, are “forward-looking statements”. These forward-looking statements, often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

For further information, please contact:

China Information Technology, Inc.
Iris Yan
Tel: +86 755 8370 4767

Nolan Liu
Tel: +86 755 8831 9888 ext. 8020
Email: IR@chinacnit.com
http://www.chinacnit.com

WebMediaBrands Q1 2013 Financial Results Conference Call – May 2, 2013

WebMediaBrands Inc. (Nasdaq: WEBM) today announced that its conference call reviewing 2013 first quarter results is scheduled for Thursday, May 2, 2013 at 5:00 pm ET. Results will be released on Thursday, May 2, 2013 after market close.

The conference call number is 888-438-5525 for domestic participants and 719-325-2464 for international participants; confirmation code is 1025769. Please call five minutes in advance to ensure that you are connected prior to the presentation.

The conference call replay will be available until Tuesday, May 7, 2013. Replay call numbers are 888-203-1112 for domestic participants and 719-457-0820 for international participants; confirmation code 1025769.

About WebMediaBrands Inc.

WebMediaBrands Inc. (Nasdaq: WEBM) (http://www.webmediabrands.com) is a leading Internet media company that provides content, education, and career services to social media, traditional media, and creative professionals through a portfolio of vertical online properties, communities, and trade shows. The Company’s online business includes: (i) mediabistro.com, a leading blog network providing content, education, community, and career resources (including the industry’s leading online job board) about major media industry verticals including new media, social media, Facebook, TV news, advertising, public relations, publishing, design, and mobile; (ii) InsideNetwork.com, a leading network of online properties providing original market research, data services, news, and job listings on the Facebook platform, on social gaming, and on mobile applications ecosystems; and (iii) SemanticWeb.com, a leading blog providing content, education, community resources and career resources on the commercialization and application of Semantic Technologies, Linked Data, and Big Data. The Company’s online business also includes community, membership and e-commerce offerings including a freelance listing service, a marketplace for designing and purchasing logos (stocklogos.com) and premium membership services. The Company’s trade show and educational offerings include conferences, online and in-person courses, and video subscription libraries on topics covered by the Company’s online business.

ARCA (ABIO) and Medtronic Collaborate on Atrial Fibrillation Clinical Trial for Gencaro

ARCA biopharma, Inc. (Nasdaq: ABIO), a biopharmaceutical company developing genetically-targeted therapies for cardiovascular diseases, today announced that it has entered into an agreement with Medtronic, Inc. (NYSE:MDT), a leader in medical technologies to improve the treatment of chronic diseases, including cardiac rhythm disorders, to collaborate on ARCA’s proposed clinical trial, known as GENETIC-AF, of its lead developmental drug Gencaro (bucindolol hydrochloride).

GENETIC-AF is planned as a Phase 2b/3 clinical trial comparing Gencaro to metoprolol CR/XL for prevention of atrial fibrillation (“AF”) in patients with heart failure and reduced left ventricular ejection fraction (“HFREF”). ARCA plans to enroll only patients with the genetic variant of the beta-1 cardiac receptor which the Company believes responds most favorably to Gencaro. GENETIC-AF has an adaptive design, under which the Company plans to initiate it as a Phase 2b study in approximately 200 patients and then, depending on the results of an interim analysis, expand the trial to a Phase 3 study by enrolling an estimated additional 420 patients.

Under the collaboration, ARCA plans, with the support of Medtronic, to conduct a substudy that will include continuous monitoring of the cardiac rhythms of all 200 patients enrolled during the Phase 2b portion of GENETIC-AF. Each patient will have heart rhythm monitoring via a Medtronic device, either a previously implanted cardiac resynchronization or defibrillation device, or a previously or newly inserted Reveal^® loop recorder. The collaboration substudy will measure AF burden, defined as a patient’s actual time in AF regardless of symptoms. In determining the presence of an efficacy signal in the Phase 2b portion of the trial, AF burden will be evaluated along with time to mortality or recurrent AF, which will also be the Phase 3 primary endpoint.

ARCA believes that the AF burden endpoint will help provide an accurate and comprehensive assessment of each patient’s AF episodes, and will be useful in evaluating the relative efficacies of Gencaro and metoprolol CR/XL. Under the collaboration, Medtronic will support the implantation and use of the Medtronic monitoring devices, and will manage the AF burden data collection and analysis. If GENETIC-AF proceeds to Phase 3, the parties will seek to enroll at least 100 additional patients in the AF burden substudy.

Dr. Michael Bristow, MD, PhD, President and Chief Executive Officer of ARCA, said, “We are excited about our collaboration with Medtronic on GENETIC-AF. We believe that the use of implanted, continuous monitoring devices that allow for the more precise measurement of atrial fibrillation represents the next generation of diagnosis and treatment options for patients at risk for this disease. The GENETIC-AF trial has the potential to result in an approvable new therapy that is safe and effective for HFREF patients at high risk for atrial fibrillation.”

AF is considered an epidemic cardiovascular disease with an estimated prevalence of at least 2.7 million Americans in 2010. The approved therapies for the treatment or prevention of AF have certain disadvantages in HFREF patients, such as toxic or cardiovascular adverse effects, and most of the approved drugs for AF are contra-indicated or have warnings in their prescribing information for such patients. ARCA believes there is an unmet medical need for new AF treatments that have fewer side effects than currently available therapies and are more effective, particularly in HFREF patients.

About ARCA biopharma

ARCA biopharma is dedicated to developing genetically-targeted therapies for cardiovascular diseases. The Company’s lead product candidate, Gencaro^TM (bucindolol hydrochloride), is an investigational, pharmacologically unique beta-blocker and mild vasodilator being developed for atrial fibrillation. ARCA has identified common genetic variations that it believes predict individual patient response to Gencaro, giving it the potential to be the first genetically-targeted atrial fibrillation prevention treatment. ARCA has a collaboration with the Laboratory Corporation of America (LabCorp), under which LabCorp has developed a companion genetic test for Gencaro. For more information please visit www.arcabiopharma.com.

Safe Harbor Statement

This press release contains “forward-looking statements” for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the potential for genetic variations to predict individual patient response to Gencaro, Gencaro’s potential to treat atrial fibrillation, future treatment options for patients with atrial fibrillation, the role of AF burden in diagnosis and treatment of atrial fibrillation and the potential for Gencaro to be the first genetically-targeted atrial fibrillation prevention treatment. Such statements are based on management’s current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, the risks and uncertainties associated with: the Company’s financial resources and whether they will be sufficient to meet the Company’s business objectives and operational requirements; results of earlier clinical trials may not be confirmed in future trials, the protection and market exclusivity provided by the Company’s intellectual property; risks related to the drug discovery and the regulatory approval process; and, the impact of competitive products and technological changes. These and other factors are identified and described in more detail in ARCA’s filings with the SEC, including without limitation the Company’s annual report on Form 10-K for the year ended December 31, 2012, the Company’s Registration Statement on Form S-1 (Registration No. 333-187508), and subsequent filings. The Company disclaims any intent or obligation to update these forward-looking statements.

Augusta (AZC) Adopts Shareholder Rights Plan and Advance Notice Policy

VANCOUVER, April 19, 2013 /PRNewswire/ – Augusta Resource Corporation (TSX: AZC) (NYSE MKT: AZC) (“Augusta” or “the Company”) announced today that its board of Directors (the “Board”) has adopted a shareholder rights plan (the “Rights Plan”) and an advance notice policy.

Rights Plan

The Rights Plan is intended to ensure, to the extent possible, that all holders of common shares of the Company and the Board have adequate time to consider and evaluate any unsolicited take-over bid for the common shares of the Company, provide the Board with adequate time to identify, solicit, develop and negotiate value-enhancing alternatives, as considered appropriate, to any unsolicited take-over bid and encourage the fair treatment of the Company’s shareholders in connection with any unsolicited take-over bid.

The Rights Plan became effective at 8:00 a.m. (Toronto time) today (the “Effective Time”), and one right will be issued in respect of each common share of the Company outstanding at 5:00 p.m. (Vancouver time) on April 30, 2013 and each common share issued thereafter.  The rights will become exercisable if at any time following the Effective Time a person, together with its affiliates, associates and joint actors, acquires or announces an intention to acquire beneficial ownership of common shares which, when aggregated with its holdings, total 15% or more of the outstanding common shares of the Company (determined in the manner set out in the Rights Plan).  Following the acquisition of 15% or more of the outstanding common shares, each right held by a person other than the acquiring person and its affiliates, associates and joint actors would, upon exercise, entitle the holder to purchase common shares at a substantial discount to the market price of the common shares at that time.

The Board has the discretion to defer the time at which the rights become exercisable and to waive the application of the Rights Plan.

The Rights Plan permits the acquisition of control of the Company through a “permitted bid”, a “competing permitted bid” or a negotiated transaction.  A permitted bid is one that, among other things, is made to all holders of common shares for all of their shares, is open for a minimum of 60 days and is subject to an irrevocable minimum tender condition of at least 50% of the common shares held by independent shareholders.

The Board is aware of the recent accumulation of common shares of the Company by HudBay Minerals Inc. (“HudBay Minerals”).  To the best knowledge of the Board, HudBay Minerals currently beneficially owns approximately 15.03% of the outstanding common shares of the Company.  Although that existing share ownership is grandfathered under the terms of the Rights Plan, any share acquisitions by HudBay Minerals following the Effective Time will be required to be completed in compliance with the provisions of the Rights Plan.  The Company is not aware of any specific take-over bid for the Company that has been made or is contemplated, either by HudBay Minerals or any other party.

The Board considered a number of factors in adopting the Rights Plan and, in particular, its 15% triggering threshold.  At this time of global market uncertainty, the Board believes that there is a much greater risk of a predatory acquisition timed to take advantage of share price weakness tied to fluctuations in the copper price.  The Board believes that the Rights Plan’s 15% triggering threshold will give the Board a substantially greater opportunity to run a value maximizing auction process in the event that the Company is put in play through a hostile take-over bid than would be the case if one or more shareholders held share positions approximating 20%.

Richard Warke, Executive Chairman of Augusta, commented, “Various members of our Board are highly experienced in public company change of control transactions.  We understand the need to have a more level playing field if Augusta is put in play, especially in these difficult market conditions, ensuring that we have a real opportunity to run an auction and capture value for our shareholders.  We are not aware of any pending hostile bid, but in our view it is incumbent on our Board to be prepared.  We are not willing to allow a predatory buyer to take advantage of these market conditions to acquire our world class Rosemont copper project at less than fair value.”

The Rights Plan will be submitted to the shareholders of the Company for ratification at a meeting to be held within the next six months of the date of adoption. If the Rights Plan is not ratified by the shareholders, the Rights Plan and any rights issued pursuant to it will terminate.  If the Rights Plan is ratified, it will continue in effect until the third annual meeting of shareholders thereafter.  The Rights Plan is subject to acceptance by the Toronto Stock Exchange.  A copy of the Rights Plan will be available on SEDAR at www.sedar.com.

Advance Notice Policy

The Board has adopted an advance notice policy (the “Policy”) in order to facilitate an orderly and efficient annual general or, where the need arises, special meeting, ensure that all shareholders receive adequate notice of director nominations and sufficient information with respect to all nominees, and allow shareholders to register an informed vote having been afforded reasonable time for appropriate deliberation.

Among other things, the Policy fixes a deadline by which holders of record of common shares of Augusta must submit director nominations to the Secretary of the Company prior to any annual or special meeting of shareholders and sets forth the specific information that a shareholder must include in the written notice to the Secretary of the Company for an effective nomination to occur.  No person will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Policy.

In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement

In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.

The Policy is effective and in full force and effect as of April 18, 2013. In accordance with the terms of the Policy, the Policy will be put to shareholders of the Company for approval at the next annual meeting which is currently scheduled for June 20, 2013, and if the policy is not confirmed at the annual meeting by ordinary resolution of shareholders, the Policy will terminate and be of no further force and effect following the termination of the annual meeting. A copy of the Policy will be available on SEDAR at www.sedar.com.

ABOUT AUGUSTA
Augusta is a base metals company focused on advancing the Rosemont Copper deposit near Tucson, Arizona. Rosemont hosts a large copper/molybdenum reserve that would account for about 10% of US copper output once in production (for details refer to www.augustaresource.com). The exceptional experience and strength of Augusta’s management team, combined with the developed infrastructure and robust economics of the Rosemont project, propels Augusta to becoming a solid mid-tier copper producer. The Company trades on the Toronto Stock Exchange and the NYSE MKT under the symbol AZC.

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING INFORMATION
Certain of the statements made and information contained herein may contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. Such forward-looking statements and forward-looking information include, but are not limited to statements concerning: expectations surrounding, short term financing, future project financings or refinancing; the Company’s plans at the Rosemont Project including timing for final permits and construction; estimated production; and capital and operating and cash flow estimates. Forward-looking statements or information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: history of losses; requirements for additional capital; dilution; loss of its material properties; interest rates increase; global economy; no history of production; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment; labour disputes; supply problems; commodity price fluctuations; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; legal and regulatory proceedings and community actions; title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 25, 2013. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada and the United States.

Education Management Corp. (EDMC) to Webcast Investor Presentation

PITTSBURGH, April 19, 2013 /PRNewswire/ — Education Management Corporation (NASDAQ: EDMC), a leading provider of post-secondary education, announced today that Edward H. West, President and Chief Executive Officer, and Mick J. Beekhuizen, Executive Vice President and Chief Financial Officer, are scheduled to participate in the Barclays High Yield Bond and Syndicated Loan Conference in Chicago, IL on Tuesday, May 21, 2013 at 10:10 a.m. Central Time (11:10 a.m. Eastern Time).

Interested parties can access a live webcast of the presentation on the Investor Relations section of the Education Management website (www.edmc.edu).  An archive of the webcast and a copy of the presentation will also be available on the Investor Relations section of the Company’s website (www.edmc.edu).

About Education Management

Education Management (www.edmc.edu), with approximately 132,000 students as of October 2012, is among the largest providers of post-secondary education in North America, based on student enrollment and revenue, with a total of 110 locations in 32 U.S. states and Canada.  We offer academic programs to our students through campus-based and online instruction, or through a combination of both. We are committed to offering quality academic programs and continuously strive to improve the learning experience for our students.  Our educational institutions offer students the opportunity to earn undergraduate and graduate degrees and certain specialized non-degree diplomas in a broad range of disciplines, including design, media arts, health sciences, psychology and behavioral sciences, culinary, fashion, business, education, legal and information technology.

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements typically contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends” or similar words indicating that future outcomes are not known with certainty and are subject to risk factors that could cause these outcomes to differ significantly from those projected. Forward-looking statements include, but are not limited to, statements related to the Company’s future operating and financial performance, and include statements regarding expected enrollment, revenue, expense levels, capital expenditures and earnings. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Some of the factors that could cause actual results to differ materially include, but are not limited to: changes in the overall U.S. or global economy; changes in enrollment or student mix; our ability to maintain eligibility to participate in Title IV programs; increased or unanticipated legal and regulatory costs; changes in accreditation standards; the implementation of new operating procedures for our fully online programs; government and regulatory changes including revised interpretations of regulatory requirements that affect the postsecondary education industry and new regulations adopted by the U.S. Department of Education on October 29, 2010 and June 13, 2011; new programs and operational changes implemented in response to the “gainful employment” financial metrics; and other factors discussed in our filings with the Securities and Exchange Commission, including those identified in the “Risk Factors” section of our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Past results of Education Management are not necessarily indicative of its future results. Education Management does not undertake any obligation to update any forward-looking statements.

FOR: Education Management Corporation

COMPANY CONTACT:
John Iannone
Director of Investor Relations
(412) 995-7727

GTx (GTXI) To Host First Quarter 2013 Financial Results Conference Call/Webcast

GTx, Inc. (NASDAQ: GTXI) today announced that it will host a conference call and webcast to provide a corporate update and discuss the Company’s first quarter 2013 financial results on Friday, May 3 at 9:00 a.m. Eastern Time. The call and webcast will follow the release of the financial results earlier that day.

To listen to the conference call, please dial:

• 866-953-6857 from the United States and Canada or
• 617-399-3481 (International)

The passcode for the call is 86834278.

A playback of the call will be available later in the day through May 17 and may be accessed by dialing:

• 888-286-8010 from the United States and Canada or
• 617-801-6888 (International)

The passcode for the replay is 55193186.

Additionally, a link to the live and subsequently archived webcast of the conference call may be found in the Investor Relations section of the Company’s website at www.gtxinc.com.

BioTime (BTX) Enters into Worldwide License Agreement with UCLA

BioTime, Inc. (NYSE MKT: BTX) today announced that it has entered into an exclusive license agreement with the University of California, Los Angeles (UCLA) for novel technology related to the treatment of stroke. The licensed technology, developed in the laboratories of Tom Carmichael, MD, PhD of UCLA’s Department of Neurology, at the David Geffen School of Medicine, uses one of BioTime’s HyStem^® hydrogels to deliver locally released growth factors to improve recovery from stroke. Pre-clinical studies have demonstrated that the localized delivery of growth factors such as brain-derived neurotrophic factor (BDNF) results in a statistically significant improvement in post-stroke motor function in a murine model of ischemic stroke.

Concurrent with the execution of this exclusive license agreement, BioTime has entered into a Sponsored Research Agreement with UCLA to support on-going pre-clinical work in Dr. Carmichael’s laboratory to advance the understanding of this technology and develop data in support for the potential filing of an Investigational New Drug Application (IND) for human clinical trails.

About BioTime, Inc.

BioTime, headquartered in Alameda, California, is a biotechnology company focused on regenerative medicine and blood plasma volume expanders. Its broad platform of stem cell technologies is enhanced through subsidiaries focused on specific fields of application. BioTime develops and markets research products in the fields of stem cells and regenerative medicine, including a wide array of proprietary PureStem™ cell lines, HyStem^® hydrogels, culture media, and differentiation kits. BioTime is developing Renevia™ (formerly known as HyStem^®–Rx), a biocompatible, implantable hyaluronan and collagen-based matrix for cell delivery in human clinical applications. BioTime’s therapeutic product development strategy is pursued through subsidiaries that focus on specific organ systems and related diseases for which there is a high unmet medical need. BioTime’s majority-owned subsidiary Cell Cure Neurosciences Ltd. is developing therapeutic products derived from stem cells for the treatment of retinal and neural degenerative diseases. BioTime’s subsidiary OrthoCyte Corporation is developing therapeutic applications of stem cells to treat orthopedic diseases and injuries. Another subsidiary, OncoCyte Corporation, focuses on the diagnostic and therapeutic applications of stem cell technology in cancer, including the diagnostic product PanC-Dx™ currently being developed for the detection of cancer in blood samples. ReCyte Therapeutics, Inc. is developing applications of BioTime’s proprietary induced pluripotent stem cell technology to reverse the developmental aging of human cells to treat cardiovascular and blood cell diseases. BioTime’s subsidiary LifeMap Sciences, Inc. markets GeneCards^®, the leading human gene database, as part of an integrated database suite that also includes the LifeMap Discovery™ database of embryonic development, stem cell research and regenerative medicine, and MalaCards, the human disease database. LifeMap Sciences also markets BioTime research products and PanDaTox, an innovative, recently developed, searchable database that can aid in the discovery of new antibiotics and biotechnologically beneficial products. Asterias Biotherapeutics, Inc. is a new subsidiary being used to acquire the stem cell assets of Geron Corporation, including patents and other intellectual property, biological materials, reagents, and equipment for the development of new therapeutic products for regenerative medicine. BioTime’s lead product, Hextend^®, is a blood plasma volume expander manufactured and distributed in the U.S. by Hospira, Inc. and in South Korea by CJ CheilJedang Corporation under exclusive licensing agreements. Additional information about BioTime can be obtained at www.biotimeinc.com.

Forward-Looking Statements

Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for BioTime and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the business of BioTime and its subsidiaries, particularly those mentioned in the cautionary statements found in BioTime’s Securities and Exchange Commission filings. BioTime disclaims any intent or obligation to update these forward-looking statements.

To receive ongoing BioTime corporate communications, please click on the following link to join our email alert list:

http://phx.corporate-ir.net/phoenix.zhtml?c=83805&p=irol-alerts

MoSys, Inc. (MOSY) Reports First Quarter 2013 Financial Results

MoSys, Inc., (NASDAQ: MOSY), a leader in semiconductor solutions that enable fast, intelligent data access for network and communications systems, today reported financial results for the first quarter ended March 31, 2013.

First Quarter and Recent Highlights

• Secured first order from a Tier-One customer for Bandwidth Engine^® 2;
• Secured an additional platform win with an existing customer;
• Unveiled newest member of Bandwidth Engine family of ICs, the MSR820, with on-board accelerators for 400G networking equipment;
• Announced new LineSpeed™ 100G Multi-Mode Gearbox IC to enable data path connectivity, speed and intelligence for 100G data transmission; and
• Ended the quarter with total cash and investments of $37.3 million.

Management Commentary

“During the first quarter, we continued to build design win momentum for our first and second-generation Bandwidth Engine ICs,” commented Len Perham, MoSys’ President and Chief Executive Officer. “Most notably, we received our first Tier-One customer order for prototype quantities of Bandwidth Engine 2 and secured another platform win with an existing customer. Additionally, we have sample requests for Bandwidth Engine 2 (BE-2) from multiple existing and prospective customers, demonstrating the user communities’ growing interest in this uniquely architected, network equipment solution. To date, the characterization and testing of BE-2 has been very gratifying. BE-2 is functioning according to its specifications, and we are satisfied that it meets the necessary standards and criteria to fulfill current sample requests. Though much remains to be done, we are very pleased with the progress we are making to ready these great new members of the Bandwidth Engine product family for a full release to the market. Finally, we anticipate satisfying all outstanding sample and/or prototyping orders for this new product in the current quarter.

During the first quarter, we further demonstrated our ongoing commitment to leverage our existing core IP and technical expertise by announcing the expansion of the Bandwidth Engine family of products. Our newest member, Bandwidth Engine 2 – Macro (MSR820), accelerates intelligent networking with on-board macro functions for 400G equipment.

We also announced a new high-speed SerDes-based product, the LineSpeed 100G Multi-Mode Gearbox IC, for networking and communications systems. This fully functional, high-performance SerDes IC enables high-density, low-power line cards and modules for short and extended reach datapath applications. We are pleased with the customer interest in our initial LineSpeed product, expect to have samples available later this quarter, and plan to add more products to the LineSpeed family in future quarters. We believe 2013 is off to a very good start, and we look forward to providing additional updates as more progress and milestones are achieved.”

First Quarter Results

Total net revenue for the first quarter of 2013 was $1.3 million, compared with $1.6 million reported in the fourth quarter of 2012 and $1.4 million in the first quarter of 2012.

First quarter 2013 total revenue included licensing and other revenue of $0.2 million, consistent with the previous quarter and first quarter of 2012. First quarter 2013 royalty revenue was $1.1 million, compared with $1.4 million in the previous quarter and $1.2 million for the first quarter of 2012.

Gross margin for the first quarter of 2013 was 99 percent, compared with 97 percent in the fourth quarter of 2012 and 96 percent for the first quarter of 2012. The sequential increase in gross margin was primarily due to less engineering services required on existing licensing contracts.

Total operating expenses on a GAAP basis for the first quarter of 2013 were $6.3 million, compared with $9.4 million in the previous quarter and $8.6 million of expenses for the first quarter of 2012. First quarter 2013 operating expenses included a $0.6 million gain on the sale of assets, as well as $0.3 million for amortization of intangible assets and $0.9 million in stock-based compensation expense.

GAAP net loss for the first quarter of 2013 was $5.0 million, or ($0.12) per share, compared with a net loss of $7.8 million, or ($0.19) per share, in the previous quarter and a net loss of $7.2 million, or ($0.19) per share, for the first quarter of 2012. The non-GAAP net loss for the first quarter of 2013 was $3.9 million, or ($0.10) per share, which excludes amortization of intangible assets and stock-based compensation expense. Earnings per share for the first quarter of 2013 were computed using approximately 40.3 million weighted shares on a GAAP and non-GAAP basis. A reconciliation of GAAP results to non-GAAP results is provided in the financial statement tables following the text of this press release.

Financial Results Webcast / Conference Call

MoSys will host a conference call and webcast with investors today at 5:30 a.m. Pacific Time (8:30 a.m. Eastern Time) to discuss the first quarter 2013 financial results. Investors and other interested parties may access the call by dialing 1-866-318-8615 in the U.S. (1-617-399-5134 outside of the U.S.), and entering the pass code 67286312 at least 10 minutes prior to the start of the call. In addition, an audio webcast will be available through the MoSys Web site at http://www.mosys.com. A telephone replay will be available for two business days following the call at 1-888-286-8010 in the U.S. (1-617-801-6888 outside of the U.S.), pass code of 85064172.

Use of Non-GAAP Financial Measures

To supplement MoSys’ consolidated financial statements presented in accordance with GAAP, MoSys uses non-GAAP financial measures that exclude from the statement of operations the effects of stock-based compensation and amortization of recorded intangible assets. MoSys’ management believes that the presentation of these non-GAAP financial measures is useful to investors and other interested persons because they are one of the primary indicators that MoSys’ management uses for planning and forecasting future performance. MoSys’ management believes that the presentation of non-GAAP financial measures that exclude these items is useful to investors because MoSys’ management does not consider these charges part of the day-to-day business or reflective of the core operational activities of the Company that are within the control of management or that would be used to evaluate management’s operating performance.

Investors are encouraged to review the reconciliation of these non-GAAP financial measures to the comparable GAAP results, which is provided in a table below the Condensed Consolidated Statements of Operations. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations to those financial statements should be carefully evaluated. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. For additional information regarding these non-GAAP financial measures, and management’s explanation of why it considers such measures to be useful, refer to the Form 8-K dated April 19, 2013, that the Company filed with the Securities and Exchange Commission.

Forward-Looking Statements

This press release may contain forward-looking statements about the Company, including, without limitation, anticipated benefits and performance expected from our IC products and the Company’s future markets and future business prospects.

Forward-looking statements are based on certain assumptions and expectations of future events that are subject to risks and uncertainties. Actual results and trends may differ materially from historical results or those projected in any such forward-looking statements depending on a variety of factors. These factors include, but are not limited, to the following:

• achieving additional design wins for Bandwidth Engine ICs;
• commencing volume shipments of Bandwidth Engine ICs;
• our ability to enhance our existing proprietary technologies and develop new technologies;
• achieving necessary acceptance of our IC architecture and interface protocols by potential customers and their suppliers;
• difficulties and delays in the development, production, testing and marketing of our ICs;
• reliance on our manufacturing partners to assist successfully with the fabrication of our ICs;
• availability of quantities of ICs supplied by our manufacturing partners at a competitive cost;
• our lack of recent experience as a fabless semiconductor company making and selling proprietary ICs;
• level of intellectual property protection provided by our patents, the expenses and other consequences of litigation, including intellectual property infringement litigation, to which we may be or may become a party from time to time;
• vigor and growth of markets served by our customers and our operations; and

other risks identified in the Company’s most recent report on Form 10-K filed with the Securities and Exchange Commission, as well as other reports that MoSys files from time to time with the Securities and Exchange Commission. MoSys undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future.

About MoSys, Inc.

MoSys, Inc. (NASDAQ: MOSY) is an IP-rich fabless semiconductor company that provides high performance solutions for fast, intelligent data access in network and communications systems. Engineered and built for high-reliability carrier and enterprise applications, MoSys’ products are breaking bandwidth barriers™ in data processing to allow for faster packet access and analysis, expanded user capacity and new capabilities required by the expanding global infrastructure. MoSys’ Bandwidth Engine® family of ICs combines the company’s patented 1T-SRAM® high-density, embedded memory and high-speed, 10 Gigabits per second serial interface with its intelligent access technology and a highly efficient GigaChip™ Interface transport protocol to eliminate bottlenecks in high-speed data access. MoSys is headquartered in Santa Clara, California, and more information is available at http://www.mosys.com.

MoSys, 1T-SRAM and Bandwidth Engine are registered trademarks of MoSys, Inc. in the US and/or other countries. Breaking Bandwidth Barriers, GigaChip, LineSpeed and the MoSys logo are trademarks of MoSys, Inc. All other marks mentioned herein are the property of their respective owners.

(Financial Tables to Follow)

Targacept (TRGT) Completes Recruitment in Phase 2b Schizophrenia Trial of TC-5619

Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing novel NNR Therapeutics™, today announced that it has completed recruitment of patients in the Phase 2b study of TC-5619 as a treatment for negative symptoms and cognitive dysfunction in schizophrenia. The company expects to report top-line results from the study by the end of 2013. TC-5619 is a highly selective modulator of the alpha7 neuronal nicotinic receptor.

“I would like to thank the patients, study sites and investigators who have helped us reach this important milestone in the development of TC-5619 as a potential new treatment for schizophrenia,” said Dr. Stephen A. Hill, Targacept’s President and Chief Executive Officer. “Current schizophrenia therapies primarily impact positive symptoms of schizophrenia, leaving the negative symptoms and cognitive dysfunction largely untreated. A new and effective treatment that addresses this medical need would be critically important for the millions of schizophrenia patients unable to function in society.”

The ongoing Phase 2b study is a double blind, placebo controlled, randomized, parallel group trial being conducted at sites in Eastern Europe and the United States. The primary outcome measure is the Scale for the Assessment of Negative Symptoms (SANS). Key secondary outcome measures include the CogState Schizophrenia Battery (composite score), a computerized test battery, and the University of California, San Diego Performance-Based Skills Assessment, Brief Version. The study is designed to randomize 456 patients with stable schizophrenia who are taking a fixed dose of an atypical antipsychotic. The study includes a 4-week screening period, followed by a 24-week treatment period during which patients receive one of two doses of TC-5619 (5mg or 50mg) or placebo once daily.

About Negative Symptoms and Cognitive Dysfunction in Schizophrenia

Schizophrenia is a chronic, severe and disabling form of psychosis. The disease generally includes three domains, positive symptoms, negative symptoms and cognitive dysfunction. The negative symptoms and cognitive dysfunction play a primary role in the inability of many schizophrenic patients to function normally. The market research firm Decision Resources estimated that there were approximately 4.7 million people with schizophrenia in the world’s seven major pharmaceutical markets in 2011. Estimates as to the prevalence of schizophrenia patients who suffer from negative symptoms vary, and it has been estimated that up to 75% of patients with schizophrenia are cognitively impaired. There is currently no drug approved in the United States or Europe specifically for the treatment of negative symptoms of schizophrenia or cognitive dysfunction in schizophrenia.

About Targacept

Targacept is developing a diverse pipeline of innovative NNR Therapeutics™ for difficult-to-treat diseases and disorders of the nervous system. NNR Therapeutics selectively modulate the activity of specific neuronal nicotinic receptors, unique proteins that regulate vital biological functions that are impaired in various disease states. Targacept’s clinical pipeline includes multiple Phase 2 product candidates, all representing first-in-class opportunities. Targacept leverages its scientific leadership and diverse pipeline to attract significant collaborations with global pharmaceutical companies. For more information, please visit www.targacept.com.

TARGACEPT

Building Health, Restoring Independence®

Forward-Looking Statements

This press release includes “forward-looking statements” made under the provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements, other than statements of historical fact, regarding without limitation: the timing for reporting of top-line results from Targacept’s Phase 2b clinical trial of TC-5619 in negative symptoms and cognitive dysfunction in schizophrenia; or Targacept’s plans, expectations or future operations, financial position, revenues, costs or expenses. Actual results, performance or experience may differ materially from those expressed or implied by any forward-looking statement as a result of various important factors, including without limitation Targacept’s critical accounting policies and risks and uncertainties relating to: the conduct and results of the ongoing Phase 2b clinical trial of TC-5619, including the performance of third parties engaged to execute such trial, delays resulting from any changes to the applicable protocols and difficulties or delays in the completion of subject enrollment or data analysis; whether positive findings from Targacept’s completed clinical trial of TC-5619 in patients with schizophrenia will be replicated in the ongoing clinical trial of TC-5619; Targacept’s ability to establish additional strategic alliances, collaborations or licensing or other comparable arrangements on favorable terms; Targacept’s ability to protect its intellectual property; and the timing and success of submission, acceptance and approval of regulatory filings. Risks and uncertainties that Targacept faces are described in greater detail under the heading “Risk Factors” in Targacept’s most recent Annual Report on Form 10-K and in other filings that it makes with the Securities and Exchange Commission. As a result of the risks and uncertainties, the results or events indicated by the forward-looking statements may not occur. Targacept cautions you not to place undue reliance on any forward-looking statement.

In addition, any forward-looking statement in this press release represents Targacept’s views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Targacept disclaims any obligation to update any forward-looking statement, except as required by applicable law.

NNR Therapeutics™ and Building Health, Restoring Independence^® are trademarks or service marks of Targacept, Inc. Any other service marks, trademarks and trade names appearing in this press release are the properties of their respective owners.

FuelCell Energy (FCEL) Provides Business Update

• Ramp to a 70 megawatt Run-Rate on Track for May 1^st completion
• Expect second fiscal quarter revenues in the range of $38 – $40 million
• Demand for Efficient and Ultra-Clean Stationary Fuel Cells Drives Job Creation in Connecticut

DANBURY, Conn., April 18, 2013 (GLOBE NEWSWIRE) — FuelCell Energy, Inc. (Nasdaq:FCEL) a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, today provided an update on its previously announced plans to ramp to a 70 megawatt (MW) annual run-rate and the job creation resulting from the demand for its highly efficient and environmentally friendly stationary fuel cell power plants.

“We are pleased with the progress in ramping our production rate by 25 percent and expect to be at a 70 megawatt annualized run-rate by May 1, 2013,” said Chip Bottone, President and Chief Executive Officer, FuelCell Energy, Inc. “The ramp of the business and hiring is directly related to demand in Connecticut such as a 14.9 megawatt fuel cell park in Bridgeport as well as overseas demand and a strong project pipeline.”

As a result of the increased run-rate and execution on the business plan, the Company expects to report revenues for its second fiscal quarter ended April 30, 2013 in the range of $38 to $40 million. This compares favorably to total revenues of $36.4 million reported for the quarter ended January 31, 2013 and $24.2 million reported for the quarter ended April 30, 2012.

FuelCell Energy now employs more than 240 workers at its Danbury headquarters and research and development facility and 295 at its Torrington production facility. In the past six months, employment at the Torrington site has increased by more than 20 percent. Including Connecticut, the Company’s total global employment now exceeds 600 full time employees. FuelCell Energy has been headquartered in Connecticut since 1969.

“We attract employees from around the State including 82 different towns in 7 of the 8 counties in Connecticut,” said Darrell Bradford, Vice President Human Resources, FuelCell Energy, Inc.

Stationary fuel cell power plants provide continuous on-site power and electric grid support in a highly efficient electrochemical process that is virtually absent of pollutants. Ultra-clean, quiet, and requiring only modest space, FuelCell Energy’s Direct FuelCell® (DFC®) fuel cell power plants are easy to site in populated areas. Direct FuelCells® (DFC®) electrochemically convert a fuel source into electricity and heat in a highly efficient process that emits virtually no pollutants due to the absence of combustion. DFC power plants are fuel flexible, capable of operating on natural gas, renewable biogas or directed biogas. Total efficiency of up to 90 percent can be achieved by DFC plants configured for combined heat and power (CHP), depending on the application. High efficiency reduces fuel costs and carbon emissions and producing both electricity and heat from the same unit of fuel can reduce the use of combustion based boilers used for heating, further reducing costs and pollutants.

About FuelCell Energy

Direct FuelCell® power plants are generating ultra-clean, efficient and reliable power at more than 50 locations worldwide.  With more than 300 megawatts of power generation capacity installed or in backlog, FuelCell Energy is a global leader in providing ultra-clean baseload distributed generation to utilities, industrial operations, universities, municipal water treatment facilities, government installations and other customers around the world.  The Company’s power plants have generated more than 1.5 billion kilowatt hours of ultra-clean power using a variety of fuels including renewable biogas from wastewater treatment and food processing, as well as clean natural gas. For more information please visit our website at www.fuelcellenergy.com and view career opportunities at FuelCell Energy.

See us on YouTube and Linked In

This news release contains forward-looking statements, including statements regarding the Company’s plans and expectations regarding the continuing development, commercialization and financing of its fuel cell technology and business plans. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, whether the Company is able to reach definitive agreements on the terms contemplated in the memorandums of agreement with POSCO Energy, general risks associated with product development, manufacturing, changes in the regulatory environment, customer strategies, potential volatility of energy prices, rapid technological change, competition, and the Company’s ability to achieve its sales plans and cost reduction targets, as well as other risks set forth in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.

Direct FuelCell, DFC, DFC/T, DFC-H2 and FuelCell Energy, Inc. are all registered trademarks of FuelCell Energy, Inc. DFC-ERG is a registered trademark jointly owned by Enbridge, Inc. and FuelCell Energy, Inc.

CONTACT: FuelCell Energy, Inc.
         Investor Relations
         203-825-6153
         ir@fce.com

Stewardship Financial (SSFN) Declares Cash Dividend

MIDLAND PARK, NJ — (Marketwired) — 04/18/13 — The Board of Directors of Stewardship Financial Corporation (NASDAQ: SSFN), parent company of Atlantic Stewardship Bank, has declared a $0.01 per share cash dividend. Common stockholders of record as of May 1, 2013 will be paid the dividend on May 15, 2013.

In announcing the dividend, Chairman William C. Hanse stated, “We are pleased continue to recognize our shareholders with this dividend. The board strives to provide value to our shareholders as well as give back to the community through the bank’s unique tithing mission.”

Paul Van Ostenbridge, President and Chief Executive Officer continued, “The board continues to closely monitor dividend policy to preserve our well-capitalized status and to position the bank for the future. This dividend level allows the Corporation to retain earnings, thus supporting the Corporation’s ability to continue to exceed regulatory capital requirements.”

Stewardship Financial Corporation’s subsidiary, the Atlantic Stewardship Bank, has 13 banking offices in Midland Park, Hawthorne (2), Montville, North Haledon, Pequannock, Ridgewood, Waldwick, Wayne (3), Westwood and Wyckoff, New Jersey. The bank is known for tithing 10% of its pre-tax profits to Christian and local charities. To date, the Bank’s total tithe donations total $7.8 million.

We invite you to visit our website at www.asbnow.com for additional information.

Contact:
Mary Beth Steiginga
630 Godwin Avenue
Midland Park, NJ 07432

Kimber (KBX) Makes Changes to the Board

VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 04/18/13 — Kimber Resources Inc. (TSX:KBR)(NYSE MKT:KBX) is pleased to announce the appointment of James J. Puplava, Board member since 2004 and Kimber’s largest individual shareholder, to the position of Chairman of the Board. Mr. Puplava replaces Kimber’s Chairman Peter Nixon, who has left the Board together with directors Donald Young, Frederick Graybeal and Tim Haldane. Kimber also welcomes back former director Keith Barron, a successful geologist and mining entrepreneur, who has rejoined Kimber’s Board of Directors.

“I am delighted to accept the role of Chairman of Kimber Resources and am honored with the confidence the Board has shown in appointing me to this position,” said Mr. Puplava. “I have been a large shareholder of Kimber since 2004, and I share in the pain that all of our shareholders feel during these challenging times in the precious metals equity markets. At Kimber, we are working hard to help our shareholders realize the value that we see in our Monterde gold/silver project. In an effort to further advance the Monterde project, especially in this difficult market, we have taken steps to cut our costs significantly and have streamlined the Board structure, reduced monthly operating costs by more than 40% since year-end 2012, and our management team has taken voluntary pay reductions. The Board will continue to take further steps to reduce ongoing cash costs while remaining focused on our core asset of Monterde. The work completed at Monterde has successfully grown and de-risked the project to its current status and Kimber is determined to take additional steps to move Monterde towards a production decision.”

Keith Barron, B.Sc., Ph.D. Geol.

Dr. Barron is a geologist with over 30 years of exploration experience on all the continents except Antarctica, and in a wide variety of commodities including gold, uranium, base metals and diamonds. He holds a B.Sc. in geology from the University of Toronto and a Ph.D. in geology from the University of Western Ontario. Dr. Barron is the President, CEO and Director of Aurania Resources Ltd, Director of Firestone Ventures Inc., Director and founder of U3O8 Corp and was co-founder of Aurelian Resources Inc. with a 13.7 million ounce gold discovery (Fruta del Norte) made in 2006 – a company acquired by Kinross Gold in 2008. In 2008, he was awarded the PDAC’s Thayer Lindsley International Discovery Award for his role in the discovery of the Fruta del Norte gold deposit and he was also jointly named the Northern Miner’s Mining Man of the Year 2008. Dr. Barron served as a director of Kimber in 2006 and 2007.

“I would like to welcome Dr. Barron on his return to Kimber’s Board of Directors. As a past Director of Kimber, coupled with his experience in exploration and with public companies, Keith is a valuable asset to our Board,” stated Mr. Puplava. “I would also like to thank Peter Nixon, Frederick Graybeal, Tim Haldane and Donald Young for the service they provided to the Kimber Board of Directors in recent years. Their hard work is greatly appreciated.”

Management Changes

James McKay, our former VP, Project Development is no longer with Kimber. We would like to thank Jim for his contribution to the Company.

About Kimber

Kimber owns mineral concessions covering in excess of 39,000 hectares in the prospective Sierra Madre gold-silver belt, including the Monterde property, where three gold-silver mineral resources have already been defined. The most advanced of these, the Carmen deposit, has been extensively drilled and has undergone detailed geologic modeling. The completion of the Updated Preliminary Economic Assessment for Monterde in 2011 represented a significant step forward for Kimber and supported further evaluation and more advanced economic studies at the Monterde deposits, with the recently filed 2012 Updated Mineral Resource Estimate Technical Report for the Carmen deposit representing a component of those activities.

Forward-looking statements

Statements in this release may be viewed as forward-looking statements, including statements regarding estimates of mineral resources at Monterde, the preliminary economic assessment of the Monterde project, the conversion of inferred mineral resources to measured and indicated mineral resources, the conversion of mineral resources to mineral reserves, life of mine estimates, the potential for gold and silver mineral resources in the Carmen and Veta Minitas deposits and other targets within the Monterde project, the implications of the results of drill holes reported herein, the results of future exploration, the economic potential of any such discoveries made, the further development, expected results and future economic assessments of the Monterde project. When used in this press release, the words “expect”, “intend”, “hopes”, “should”, “believe”, “may”, “will”, “if”, “conviction”, “anticipates”, “potential for”, “potentially”, “suggests” and similar expressions are intended to identify forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, among others, uncertainty of mineral reserve and resource estimates, continuity of mineralization between drill holes, risks relating to fluctuations in the price of gold, the inherently hazardous nature of mining-related activities, potential effects on Kimber’s operations of environmental regulations in the countries in which it operates, risks due to legal proceedings, risks relating to political and economic instability in certain countries in which it operates, risks related to the use of inferred mineral resources in the preliminary economic assessment, and uncertainty of being able to raise capital on favourable terms or at all, as well as those risk factors discussed under the headings “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in Kimber’s latest Annual Report on Form 20-F as recently filed on SEDAR and EDGAR.There are no assurances the Company can fulfil such forward-looking statements and the Company undertakes no obligation to update such statements, except as required by law. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company’s control.

Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Kimber Resources uses certain terms in this news release and on its website, such as “measured”, “indicated”, and “inferred”, “mineral resources”, which the SEC guidelines strictly prohibit U.S. companies from including in their filings with the SEC.U.S. Investors are urged to consider closely the disclosure under the heading “Cautionary Note to U.S. Investors Regarding Mineral Reserve and Resource Estimates” in our latest annual report on Form 20-F which may be secured from us, or from the SEC’s website at http://www.sec.gov/edgar.shtml.

Contacts:
Kimber Resources Inc.
Renee Brickner, BSc (Hons) Geol.
Vice President, Investor Relations
North America Toll Free: 1-866-824-1100 or (604) 669-2251

Kimber Resources Inc.
Gordon Cummings, CA
President and CEO
North America Toll Free: 1-866-824-1100 or (604) 669-2251
(604) 669-8577 (FAX)
kimbernews@kimberresources.com

Board of Directors of AdCare (ADK) to Review Unsolicited Tender Offer

ATLANTA, April 18, 2013 /PRNewswire/ — AdCare Health Systems, Inc. (NYSE MKT: ADK) (NYSE MKT: ADK.PRA), a leading long-term care provider, confirmed that Brogdon Family, LLC, an affiliate of Christopher Brogdon, AdCare’s Vice Chairman and beneficial owner of greater than 10% of the AdCare common stock, informed the AdCare Board of Directors on April 17, 2013 of its interest in commencing an unsolicited tender offer to acquire, at a price of $8.00 per share, such number of shares of AdCare common stock that would result in Mr. Brogdon beneficially owning at least 55%, but no more than 75%, of the outstanding shares of AdCare common stock (the “Tender Offer”).

If and when the Tender Offer is commenced, then, consistent with its fiduciary duties and as required by applicable law, the AdCare Board of Directors, in consultation with AdCare’s independent financial and legal advisors (i) will review the Tender Offer to determine the course of action that it believes is in the best interests of AdCare and its stockholders and (ii) will advise stockholders of its formal position regarding the Tender Offer within ten business days after its commencement by making available to stockholders and filing with the Securities and Exchange Commission (the “SEC”) a solicitation/recommendation statement on Schedule 14D-9.

About AdCare Health Systems

AdCare Health Systems, Inc. (NYSE MKT: ADK) (NYSE MKT: ADK.PRA) is a recognized provider of senior living and health care facility management. The Company owns and manages long-term care facilities and retirement communities, and since the Company’s inception in 1988, its mission has been to provide the highest quality of healthcare services to the elderly through its operating subsidiaries, including a broad range of skilled nursing and sub-acute care services. For more information about the Company, visit www.adcarehealth.com.

Additional Information

If the Tender Offer is commenced, then AdCare will file a solicitation/recommendation statement with the SEC.  INVESTORS AND ALL ADCARE SECURITY HOLDERS ARE URGED TO READ SUCH STATEMENT AND ANY OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.  Investors and security holders will be able to obtain free copies of these documents (when available) and other documents filed with the SEC by AdCare through the website maintained by the SEC at http://www.sec.gov.

Forward-Looking Statements

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipates,” “continues,” “expects,” “forecasts,” “outlook,” “believes,” “estimates,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for any fiscal period and other corporate developments will depend upon a number of regulatory, economic, competitive and other influences, including those factors discussed in the “Risk Factors” section and elsewhere in the Company’s reports and filings made from time to time with the SEC. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company’s operations and its financial condition. We undertake no obligation to update information contained in this release.

Galectin (GALT) to Present New Data on the Treatment of Liver Fibrosis and Cirrhosis

— Abstract Accepted for Presentation at the International Liver Congress 2013 —

NORCROSS, Ga., April 17, 2013 /PRNewswire/ — Galectin Therapeutics (NASDAQ: GALT), the leading developer of therapeutics that target galectin proteins to treat fibrosis and cancer, today announced that its abstract was accepted by the European Association for the Study of the Liver for presentation on April 27, 2013 at the International Liver Congress to be held in Amsterdam, The Netherlands. The abstract, “Regression of fibrosis and reversal of cirrhosis in thioacetamide-induced liver fibrosis following treatment with galectin inhibitors” provides evidence in a pre-clinical model that Galectin’s drugs are able to reverse established fibrosis and cirrhosis.

“Data continues to accumulate showing the effectiveness of our galectin inhibitor drugs in pre-clinical models,” said Dr. Peter G. Traber, President, Chief Executive Officer and Chief Medical Officer, Galectin Therapeutics. “Research will be presented on how both GR-MD-02 and GM-CT-01 are effective in reversing fibrosis and cirrhosis in established disease. The findings add confidence for the possibility of this mechanism extending to human disease. Following the presentation, additional information will be announced and the data will be posted on the Galectin website.”

About Galectin Therapeutics
Galectin Therapeutics (NASDAQ: GALT) is developing promising carbohydrate-based therapies for the treatment of fibrotic liver disease and cancer based on the Company’s unique understanding of galectin proteins, key mediators of biologic function. We are leveraging extensive scientific and development expertise as well as established relationships with external sources to achieve cost effective and efficient development. We are pursuing a clear development pathway to clinical enhancement and commercialization for our lead compounds in liver fibrosis and cancer. Additional information is available at www.galectintherapeutics.com.

Forward Looking Statements
This press release contains, in addition to historical information, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future financial performance, and use words such as “may,” “estimate,” “could,” “expect” and others. They are based on our current expectations and are subject to factors and uncertainties which could cause actual results to differ materially from those described in the statements. Factors that could cause our actual performance to differ materially from those discussed in the forward-looking statements include, among others: incurrence of operating losses since our inception, uncertainty as to adequate financing of our operations, extensive and costly regulatory oversight that could restrict or prevent product commercialization, inability to achieve commercial product acceptance, inability to protect our intellectual property, dependence on strategic partnerships, product competition, and others stated in risk factors contained in our SEC filings. We cannot assure that we have identified all risks or that others may emerge which we do not anticipate. You should not place undue reliance on forward-looking statements. Although subsequent events may cause our views to change, we disclaim any obligation to update forward-looking statements.

CASMED (CASM) Announces FDA Approval of Next Generation FORE-SIGHT

BRANFORD, Conn., April 17, 2013 (GLOBE NEWSWIRE) — CAS Medical Systems, Inc. (Nasdaq:CASM) (CASMED), a leader in medical devices for non-invasive patient monitoring, today reported receipt of U.S. Food and Drug Administration (FDA) 510(k) clearance for its next-generation FORE-SIGHT ELITE™ Absolute Tissue Oximeter.

“With this product clearance by the FDA, CASMED achieved major milestones in the development of our next generation FORE-SIGHT Monitor, in our quest to constantly improve our technologies, and in the overall execution of the strategic plan we adopted more than two years ago,” said Thomas M. Patton, President and Chief Executive Officer of CASMED. “This cutting-edge product exceeds the high levels of accuracy established with our current FORE-SIGHT monitor and will further empower clinicians to protect the brain and enhance patient safety. In addition, this new monitor will afford us the opportunity to lower our cost of goods, expand distribution around the world, and provide an OEM solution to strategic partners.”

The FORE-SIGHT ELITE Oximeter was cleared to provide absolute cerebral oxygenation levels in adult and transitional adolescent patients weighing 40 kilograms or more. Among other advanced features, the ELITE Oximeter is capable of monitoring four channels of oximetry information, is portable, has a large high-contrast viewing screen, and has touch screen controls to enhance operability.

At the recent Annual Meeting of the Society for Cardiac Anesthesiologists, which concluded last week in Miami Beach, Florida, validation data for the FORE-SIGHT ELITE Oximeter was presented showing the ELITE to be more accurate than the current FORE-SIGHT Oximeter, which already has an unparalleled level of accuracy for commercially available tissue oximeters. The clinical study, conducted on 25 healthy adult subjects at Duke University Medical Center, reported the accuracy of the devices by considering both the precision and bias (calculated as A_rms) against the standard invasive reference and showed ELITE to have an A_rms of 3.05% compared to an A_rms of 3.61% for the current FORE-SIGHT. The original abstract of that study can be found at the following link: http://www.scahq.org/abstracts/2013/showAbstract.php?id=88.

CASMED reported that the FORE-SIGHT Elite monitor should be widely available to customers in the fourth quarter of 2013.

“We continue to invest in development efforts to provide best-in-class products to our customers,” Mr. Patton continued. “With FORE-SIGHT ELITE, we will once again re-set our own standard for actionable accuracy as we work to enhance our growth rates and expand the overall market for cerebral oximetry.”

About CASMED^® – Monitoring What’s Vital

CASMED is a leading developer and manufacturer of medical devices for non-invasive patient monitoring. The Company’s FORE-SIGHT Absolute Cerebral Oximeter provides a highly accurate, non-invasive, continuous measurement of absolute cerebral tissue oxygen saturation. Direct monitoring of tissue oxygenation provides a superior and powerful tool to alert clinicians to otherwise unrecognized and dangerously low levels of oxygenation of the brain and other tissues, thereby allowing them to intervene appropriately in the care of their patients. In addition to FORE-SIGHT Oximeters and accessories, the Company provides a line of bedside patient vital signs monitoring products, proprietary non-invasive blood pressure monitoring solutions for OEM use, neonatal intensive care supplies, and service. CASMED products are designed to provide unique monitoring solutions that are vital to patient care. For further information regarding CASMED, visit the Company’s website at www.casmed.com.

Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of the Company are subject to many factors including, but not limited to, the customer acceptance of the products in the market, the introduction of competitive products and product development, the impact of any product liability or other adverse litigation, working capital and availability of capital, commercialization and technological difficulties, the impact of actions and events involving key customers, vendors, lenders, competitors, and other risks detailed in the Company’s Form 10-K for the year ended December 31, 2012, and other subsequent Securities and Exchange Commission filings.

Such statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release, the terms “anticipate”, “believe”, “estimate”, “expect”, “may”, “objective”, “plan”, “possible”, “potential”, “project”, “will”, and similar expressions identify forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.

CONTACT: Company Contact
         CAS Medical Systems, Inc.
         Jeffery A. Baird
         Chief Financial Officer
         (203) 315-6303
         ir@casmed.com

         Investors
         LHA
         Kim Sutton Golodetz (kgolodetz@lhai.com)
         (212) 838-3777
         Bruce Voss (bvoss@lhai.com)
         (310) 691-7100
         @LHA_IR_PR

Recovery Energy (RECV) Announces Debt Modifications, New Funding Commitments

DENVER, APRIL 17, 2013 /PRNewswire/ — Recovery Energy, Inc. (NASDAQ: RECV) (the “Company”), an independent oil and gas exploration and production company with operations and assets in the Denver-Julesburg (DJ) Basin, today announced a delay in the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2012. The delay was precipitated by the Company’s completion of negotiations with its lenders that among other things, achieved a reduction of its blended interest rate from 12.1% to 9.2%, and the receipt of a funding commitment that will affect its 2013 development program.

In a Notification of Late Filing on Form 12b-25 filed on April 1, 2013, the Company anticipated filing its annual report on Form 10-K no later than fifteen calendar days following the prescribed due date. Although the Company will not be able to file its annual report as scheduled, it anticipates filing no later than April 19, 2013.

“While making our periodic filings in a timely manner is very important to us, we determined that providing our shareholders and the public with the most accurate information available must take precedence in this situation,” said A. Bradley Gabbard, President and Chief Financial Officer.

On April 15, 2013, the Company amended both its secured term loans with Hexagon, LLC (“Hexagon”), and its 8% Senior Secured Convertible Debentures to extend their maturity dates to May 16, 2014.  In consideration for the extended maturity date of both loans and the reduced interest rate and minimum loan payment under the secured term loans, the Company is required to provide both Hexagon and the holders of the debentures an additional security interest in 15,000 acres (or 30,000 acres in aggregate) of our undeveloped acreage. Additionally, pursuant to the amendment to the secured term loan, Hexagon agreed to (i) reduce the interest rate on the term loans from 15% to 10% beginning retroactively with March 2013, (ii) permit the Company to make interest-only payments for March, April, May, and June, after which time the minimum secured term loan payment will be no greater than $230,000 per month.

On April 16, 2013, the Company executed a binding letter agreement with one of the holders of its debentures, which agreed to purchase an additional $1.5 million in the Company’s debentures within 90 days. The letter agreement also provides for the other holders of the Company’s debentures to purchase up to $3.5 million in additional debentures, subject to approval by its board of directors.

“This additional financing will enable us to expand our drilling program, and will provide us with significantly more flexibility in meeting our working capital needs,” said Mr. Gabbard.

About Recovery Energy, Inc.

Recovery Energy, Inc. (RECV) is a Denver-based independent oil and gas exploration and production company that operates in the Denver-Julesburg (DJ) Basin where it holds approximately 144,000 gross, 129,000 net acres.  Recovery Energy’s focus is to grow reserves and production through a combination of acquisitions and conventional and unconventional drilling activity, targeting the various oil-bearing formations that produce in the DJ Basin.

This press release may include “forward-looking statements” as defined by the Securities and Exchange Commission (the “SEC”), including statements, without limitation, regarding the Company’s expectations, beliefs, intentions or strategies regarding the future. Such forward-looking statements relate to, among other things the Company’s: (1) proposed exploration and drilling operations, (2) ability to meet its working capital needs, and (3) its ability to file its Form 10-K.  These statements are qualified by important factors that could cause the Company’s actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) the Company’s ability to finance its continued exploration and drilling operations, (2) positive confirmation of the reserves, production and operating expenses associated with the Company’s properties; and (3) the general risks associated with oil and gas exploration and development, including those risks and factors described from time to time in the Company’s reports and registration statements filed with the SEC.

Park City Group (PCYG) Responds to Unusual Trading Activity

PARK CITY, Utah, April 17, 2013 (GLOBE NEWSWIRE) — Park City Group (NYSE MKT:PCYG) States that its Policy is Not to Comment on Unusual Market Activity.

About Park City Group

Park City Group (NYSE MKT:PCYG) is a Software-as-a-Service (“SaaS”) provider that brings unique visibility to the consumer goods supply chain, delivering actionable information that ensures product is on the shelf when the consumer expects it as well as providing food safety tracking information. The Company’s services increase customers’ sales and profitability while enabling lower inventory levels, and help to ensure regulatory compliance for both retailers and their suppliers.

Through a process known as Consumer Driven Sales Optimization™, Park City Group helps its customers turn information into cash and increased sales, using the largest scan based platform in the world. Scan based trading provides retail trading partners with a distinct competitive advantage through scan sales that provides store level visibility and sets the supply chain in motion. And since it is scan based, it can be used in a Direct Store Delivery (DSD) or warehouse setting.

In 2012 Park City Group worked with Leavitt Partners, an internationally-known health care and food safety consulting firm to create ReposiTrak, Inc., which provides food retailers and suppliers with a robust solution that helps them protect their brands and remain in compliance with rapidly evolving regulations in the recently passed Food Safety Modernization Act. Powered by Park City Group, this solution, also called ReposiTrak™, is an internet-based technology, which helps to enable all participants in the farm-to-table supply chain to easily manage tracking and traceability requirements as products move between trading partners.

CONTACT: Investor Relations Contact:
         Dave Mossberg
         Three Part Advisors, LLC
         817-310-0051

OCZ Technology (OCZ) Issues Update for Investors

SAN JOSE, CA–(Marketwired – April 17, 2013) – OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, provides business update for the fourth quarter of 2013.

The Company is disclosing certain preliminary information about its fourth quarter of fiscal 2013 that ended on February 28, 2013, subject to certain closing procedures and further review by the Company and its auditors. As previously reported the Company estimated that revenue in each of the unreported quarters ending August 31, 2012 and November 30, 2012 is in the range of $65 million to $85 million. This range takes into effect the impact of the reclassification of certain customer costs from operating expenses to revenue, the significant reduction in channel inventory, the timing of revenue recognition and reserves for product returns. The preliminary revenue range for the unreported fourth quarter of fiscal 2013 is estimated to be between $65 million and $70 million. The Company also expects positive gross margins for the fourth quarter. This is an indication that the operating adjustments regarding restructuring and the restatement are behind the Company. Gross margins will continue to improve in the coming quarters due to the streamlining of products and focus on enterprise business. Operating expenses are estimated to be between $23 million and $26 million for the fourth quarter and include non-recurring restatement related charges of approximately $4 million which includes the completion of the internal investigation and other legal matters. The company’s inventory levels also continued to improve as inventory on hand at the end of the fourth quarter was less than $50 million and channel inventory was at a 2-year low of less than $20 million.

Unshipped backlog for the fourth quarter was approximately $18 million, as NAND flash supply constrained revenue in the quarter and suppliers are allocating certain NAND flash products. NAND supply is expected to affect our first quarter of fiscal 2014 as well. The Company’s strategy to diversify NAND vendors has helped during this timeframe and is planning for and expects the supply of flash to continue to be tight throughout calendar 2013.

Revenue generated from Enterprise solutions are expected to increase sequentially for the first quarter of fiscal 2014, ending on May 31, 2013, which will also contribute to the improvement of our gross margins as many previously engaged customers are now taking product.

On April 11th, the Company received a notification letter from NASDAQ regarding continued non-compliance with NASDAQ Listing Rules and that the Company’s securities were subject to delisting. The Company will request a hearing before the NASDAQ Listing Qualifications Panel. In accordance with the NASDAQ Listing Rules, in connection with the hearing request, the Company will formally request a stay of any delisting action pending the conclusion of the hearing process to extend the delisting deadline.

The restatement effort is continuing and the Company has made substantial progress towards meeting its objective in getting current with its filings. Although it is difficult to predict when the Company will become current with its SEC filings, the Company and auditors have added additional resources that should improve the ability to bring the restatement to closure as rapidly as possible.

“While we know our shareholders are disappointed in our inability to becoming current on our financials by the April 8th NASDAQ deadline,” stated Ralph Schmitt, CEO of OCZ Technology, “the OCZ team and our auditors are working diligently in bringing this to closure as our review procedures for the accounting of the restatement is taking longer than we had anticipated in an effort to ensure that it is accounted for appropriately. The restatement progress does not change the fact that our business continues to operate effectively and we continue to improve our operational situation.”

Schmitt continued, “In the quarter we lowered our borrowing levels and paid off our credit facility with Wells Fargo. We then engaged in a loan with Hercules Growth Capital that gave us more capital to continue to improve the business. We also were able to reduce our operating expenses even further in order to lower our breakeven point. We have drawn $10M against our $30M credit facility, have approximately $10M of cash on hand and are current with our key vendors. All of which are improvements in these metrics on a quarter to quarter basis.”

The Company has recently appointed a new CFO, Rafael Torres, and an enterprise solid state storage experienced VP of Sales, Wayne Eisenberg, and continues to hire key enterprise talent, primarily in engineering and sales. The Company has also made progress in the recent quarter by introducing a new application-specific strategy in the enterprise by going to beta on its ZD-XL PCIe solid-state solution designed specifically for SQL acceleration. This product represents the culmination of hardware and software coming together as one tightly integrated and optimized solution. Included in this total solution are implementation wizards that make installation quick and simple for data center customers.

The Company also launched its first drives using leading-edge 20 nanometer (nm) flash and expects the majority of product lines to transition to this technology node by the end of its second fiscal quarter. The Company will also move the majority of its consumer drives to in-house controller technology in this same timeframe. Utilizing the Company’s proprietary Barefoot 3 controller, the Vector Series of SATA solid state drives continue to ramp in volume in the high-end client market and is recognized by leading independent trade publications as a performance leader in both sequential transfers and sustained performance, most recently winning Editor’s Choice Awards from PC Gamer and Maximum PC magazines. Moving forward the Company will continue to leverage next generation versions of the Barefoot 3 controller with the latest generation flash devices to offer customers the best balance of performance, reliability and value.

About OCZ Technology Group, Inc.
Founded in 2002, San Jose, CA-based OCZ Technology Group, Inc. (OCZ) is a global leader in the design, manufacturing, and distribution of high-performance solid-state storage solutions and premium computer components. Offering a complete spectrum of solid-state drives (SSDs), OCZ provides SSDs in a variety of form factors and interfaces (i.e. PCIe, SAS and SATA) to address a wide range of client and enterprise applications. Having developed firmware and controller platforms, to virtualization and endurance extending technologies, the company delivers vertically integrated solutions enabling transformational approaches to how digital data is captured, stored, accessed, analyzed and leveraged by customers. For more information, please visit: www.ocz.com.

Forward Looking Statements
Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of OCZ Technology Group, Inc. to be different from those expressed or implied in the forward-looking statements. In this context, words such as “will,” “would,” “expect,” “anticipate,” “should” or other similar words and phrases often identify forward-looking statements made on behalf of OCZ. It is important to note that actual results of OCZ may differ materially from those described or implied in such forward-looking statements based on a number of factors and uncertainties, including, but not limited to, the risk that the process of preparing and auditing the financial statements or other subsequent events would require OCZ to make additional adjustments; the time and effort required to complete the restatement of the financial reports; the ramifications of OCZ’s potential inability to timely file required reports; including potential delisting of OCZ’s common stock on NASDAQ; the risk of litigation or governmental investigations or proceedings relating to such matters; market acceptance of OCZ’s products and OCZ’s ability to continually develop enhanced products; adverse changes both in the general macro-economic environment as well as in the industries OCZ serves, including computer manufacturing, traditional and online retailers, information storage, internet search and content providers and computer system integrators; OCZ’s ability to efficiently manage material and inventory, including integrated circuit chip costs and freight costs; OCZ’s ability to obtain sufficient NAND flash; and OCZ’s ability to generate cash from operations, secure external funding for its operations and manage its liquidity needs. Other general economic, business and financing conditions and factors are described in more detail in “Item 1A — Risk Factors” in Part I in OCZ’s Annual Report on Form 10-K filed with the SEC on May 14, 2012, and statements made in other subsequent filings. The filing is available both at www.sec.gov as well as via OCZ’s website at www.ocz.com. OCZ does not undertake to update its forward-looking statements.

Investor Contact:
Bonnie Mott
Senior Manager of Investor Relations
408-440-3428
bmott@ocztechnology.com

Press Contact:
Scott Harlin
Director of Marketing Communications – Enterprise
(408) 733-8400
sharlin@ocztechnology.com

Metabolix (MBLX) to Conduct a Webcast of Its Q1 FY13 Earnings Call

Metabolix, Inc. (NASDAQ: MBLX), an innovation-driven bioscience company delivering sustainable solutions to the plastics, chemicals and energy industries, announced today that it will be releasing its first quarter fiscal year 2013 financial results after the market close on Wednesday, May 8, 2013. The full text of the earnings release will also be available on the Company’s website at www.metabolix.com.

Richard Eno, the Company’s president and chief executive officer, Joseph Hill, chief financial officer, and Oliver Peoples, co-founder and chief scientific officer, will host a conference call on the same day at 4:30 p.m. (ET) to discuss the results of the first quarter ended March 31, 2013. The Company will also provide an update on the business and answer questions from the investment community.

A live webcast of the call with slides can be accessed through the “Investors” section of the Company’s website at www.metabolix.com. To participate in the call, dial toll-free (877) 709-8155 or (201) 689-8881 (international). Interested parties unable to participate in the live call may access an archived version of the webcast on the Company’s website. To listen to a telephonic replay of the conference call, dial toll-free (877) 660-6853 or (201) 612-7415 (international) and enter pass code 412243. The replay will be available beginning at 7:30 p.m. (ET) on Wednesday, May 8, 2013 and will last through 11:59 p.m. (ET) on May 22, 2013. In addition, the webcast will be archived on the Company’s website in the investor relations section.

About Metabolix

Metabolix, Inc. is an innovation-driven bioscience company delivering sustainable solutions to the plastics, chemicals and energy industries. Metabolix is developing and commercializing a family of high-performance biopolymers targeted to the markets for film and bag applications, performance additives and functional biodegradation. Metabolix’s biobased chemicals platform utilizes its novel “FAST” recovery process to enable the production of cost-effective, “drop-in” replacements for petroleum-based industrial chemicals. Metabolix is also developing a platform for co-producing plastics, chemicals and energy from crops. Metabolix has established an industry-leading intellectual property portfolio that, together with its knowledge of advanced industrial practice, provides a foundation for industry collaborations.

For more information, please visit www.metabolix.com.

(VGZ) Mt. Todd Awarded Major Project Status by Northern Territory Government

DENVER, April 16, 2013 /PRNewswire/ — Vista Gold Corp. (TSX & NYSE MKT: VGZ) (“Vista” or the “Company”) is pleased to announce that the Northern Territory (“NT” or the “Territory”) Government has awarded its Mt. Todd gold project Major Project Status, signifying the NT Government’s support for the timely and responsible development of the Mt. Todd gold project.

Major Project Status is awarded by the NT Government to projects that have the potential to provide significant economic opportunities for the Territory and its citizens.  Major Project Status prospectively provides a process and structure for decisions regarding matters of importance to the project to be made in an efficient and timely manner.  Major Project Status is coordinated by a Cabinet-level committee and implementation is supervised by the office of the Chief Minister, thereby hopefully minimizing potential for delays in obtaining critical decisions.

Frederick H. Earnest, President and CEO of Vista, stated, “I am extremely pleased with the NT Government’s continued support for the redevelopment of the Mt. Todd gold project.  Major Project Status is an indication of the NT Government’s continued focus on the Mt. Todd gold project and commitment to regional development in the Katherine region.  Areas of shared interest – whether related to the departments of Mines and Energy, Treasury, Lands and Planning or Environment – will now be handled at the highest level within the NT Government, with coordination provided by the office of the Chief Minister. This decision recognizes the significance of the project and its benefit to the future development of the Northern Territory.  We look forward to our continued work with the NT Government in the development of the Mt. Todd gold project.”

Separately, Vista announced that it has completed and submitted a Draft Environmental Impact Statement (“EIS”) to the Environmental Protection Agency of the NT Government (“NTEPA”) for review.  The NT Government has encouraged Vista to submit a Draft EIS so that it can be reviewed for completeness.  Mr. Earnest commented, “The purpose of the review is to identify any possible omissions in the EIS, prior to its formal submission.  The NTEPA has proposed this review as a way to identify any items that may require additional study early in the process and to avoid untimely delays later in the approval process.  We anticipate submitting the final EIS later this quarter and believe that we remain on track to receive permits around the end of the year.”

About Vista Gold Corp.

Vista is focused on the development of the Mt. Todd gold project in Northern Territory, Australia, to achieve its goal of becoming a gold producer. Vista has completed a preliminary economic assessment on its Guadalupe de los Reyes gold/silver project in Mexico and has granted Invecture Group, S.A. de C.V. a right to earn a 62.5% interest in the Los Cardones gold project, in Mexico. Vista’s other holdings include the Awak Mas gold project in Indonesia, subject to One Asia Resources Ltd.’s right to earn an 80% interest, and the Long Valley gold project in California. For more information about our projects, including technical studies and resource estimates, please visit our website at www.vistagold.com.

This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws.  All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Vista expects or anticipates will or may occur in the future, including such things as, the potential effects of Major Project Status for allowing project decisions to be made in an efficient and timely manner and minimizing the potential for delays in obtaining critical decisions, the anticipated filing date of the final EIS, the process and expected timing for receipt of permits at the Mt. Todd gold project , and other such matters are forward-looking statements and forward-looking information.  The material factors and assumptions used to develop the forward-looking statements and forward looking information contained in this press release include the following: our approved business plans, exploration and assay results, mineral resource and reserve estimates and results of preliminary economic assessments, pre-feasibility studies and feasibility studies on our projects, if any.  When used in this press release, the words “optimistic,” “potential,” “indicate,” “expect,” “intend,” “hopes,” “believe,” “may,” “will,” “if,” “anticipate,” and similar expressions are intended to identify forward-looking statements and forward-looking information.  These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vista to be materially different from any future results, performance or achievements expressed or implied by such statements.  Such factors include, among others, uncertainty of resource estimates, estimates of results based on such resource estimates; risks related to project decision making processes of the NT Government changing or taking longer than expected, risks related to the review of the Draft EIS, risks related to the completion and submission of the Final EIS, risks related to delays in obtaining final permits at the Mt. Todd gold project , risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on Vista’s operations of environmental regulations in the countries in which it operates; risks due to legal proceedings; risks relating to political and economic instability in certain countries in which it operates; as well as those factors discussed under the headings “Note Regarding Forward-Looking Statements” and “Risk Factors” in Vista’s latest Annual Report on Form 10-K as filed on March 14, 2013 and other documents filed with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.  Although Vista has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.  Except as required by law, Vista assumes no obligation to publicly update any forward-looking statements or forward-looking information; whether as a result of new information, future events or otherwise.

For further information, please contact Connie Martinez at (720) 981-1185, or visit the Vista Gold Corp. website at www.vistagold.com.

Galena (GALE) to Present at the 2013 BIO International Convention

LAKE OSWEGO, Ore., April 16, 2013 (GLOBE NEWSWIRE) — Galena Biopharma (Nasdaq:GALE), a biopharmaceutical company developing innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care, today announced that Mark W. Schwartz, Ph.D., Executive Vice President and Chief Operating Officer, will present a corporate update at the 2013 BIO International Convention. The presentation will take place on Tuesday, April 23, 2013 at 8:45 a.m. CT at the McCormick Place convention center in Chicago, IL.

About Galena Biopharma

Galena Biopharma, Inc. (Nasdaq:GALE) is a Portland, Oregon-based biopharmaceutical company developing innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care. For more information please visit us at www.galenabiopharma.com.

CONTACT: Madeline Hatton
         Toll free: +1 (855) 855-GALE (4253), ext. 109
         info@galenabiopharma.com

         or

         Remy Bernarda
         IR Sense, LLC
         +1 (503) 400-6995
         remy@irsense.com

ORBCOMM (ORBC) Announces Hiring of Craig Montgomery, Senior Vice President of Marketing

ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company specializing in two-way Machine-to-Machine (M2M) communications and solutions, today announced the hiring of Craig Montgomery as Senior Vice President of Marketing.

Mr. Montgomery has over 18 years of experience in marketing, product management and sales operations. He joins ORBCOMM from CMG Partners, where he was a Principal and head of the Washington, DC office and responsible for helping to develop growth strategies for privately held and publicly traded clients. Prior to CMG Partners, Craig was a Senior Vice President at SkyBitz and led direct marketing for Nextel Communications. In addition, Craig served as the Chief Operating Officer and Senior Vice President of Marketing for Seneca One Finance as well as other senior marketing roles with CoStar Group and Dell.

“We are excited to bring Craig on board,” said Patrick Shay, ORBCOMM’s Executive Vice President of Sales and Marketing. “With his strong experience in the wireless and M2M space as well as his expertise in driving top-line growth via marketing strategy, Craig’s leadership will aide ORBCOMM in bringing new and innovative global M2M solutions to the market.”

About ORBCOMM Inc.

ORBCOMM is a leading global satellite data communications company specializing in Machine-to-Machine (M2M) communications and solutions. Its customers include Caterpillar Inc., Doosan Infracore America, Hitachi Construction Machinery, Hyundai Heavy Industries, Asset Intelligence (a division of I.D. Systems, Inc.), Komatsu Ltd., Manitowoc Crane Companies, Inc., and Volvo Construction Equipment among other industry leaders. By means of a global network of low-earth orbit (LEO) satellites and accompanying ground infrastructure, ORBCOMM’s low-cost and reliable two-way data communication services track, monitor and control mobile and fixed assets in our core markets: commercial transportation; heavy equipment; industrial fixed assets; marine; and homeland security. ORBCOMM based products are installed on trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil wells, utility meters, storage tanks and other assets. ORBCOMM is an innovator and leading provider of tracking, monitoring and control services for the refrigerated transport market. Under its ReeferTrak^®, GenTrak^TM, and CargoWatch^TM brands, the company provides customers with the ability to proactively monitor, manage and remotely control their refrigerated transport assets. Additionally, ORBCOMM provides Automatic Identification System (AIS) data services for vessel tracking and to improve maritime safety to government and commercial customers worldwide. ORBCOMM is headquartered in Rochelle Park, New Jersey and has its network control center in Dulles, Virginia. For more information, visit www.orbcomm.com.

Forward-Looking Statements

Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Such forward-looking statements, including those concerning the Company’s expectations, are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from the results, projected, expected or implied by the forward-looking statements, some of which are beyond the Company’s control, that may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, specific consideration should be given to various factors described in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2012, and other documents, on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.

GreenHunter (GRH) to Present Today at the IPAA OGIS Conference

GreenHunter Energy, Inc. (NYSE MKT: GRH) (NYSE MKT:GRH.PRC), (the “Company”) President, Chief Operating Officer, and Interim CEO, Jonathan D. Hoopes, will present today at the IPAA Oil & Gas Investment Symposium being held at the Sheraton NY Hotel & Towers in New York City, New York. The presentation will begin Tuesday, April 16, 2013 at 2:50 p.m. EDT (1:50 p.m. CDT).

A live webcast of Mr. Hoopes’ presentation can be accessed at the following internet address: http://www.investorcalendar.com/IC/CEPage.asp?ID=170798

About GreenHunter Energy, Inc.

GreenHunter Energy, Inc. is a diversified renewable energy company predominately focused on water resource management in the unconventional oil and natural gas shale resource plays. Through its wholly owned subsidiary, GreenHunter Water, LLC, the Company provides Total Water Management Solutions™ in the oilfield. In addition to licensing of and joint ventures with manufacturers of mobile water treatment systems (Frac-Cycle^TM), GreenHunter Water is expanding capacity of salt water disposal facilities, next-generation modular above-ground storage tanks (MAG Tank™), advanced hauling and fresh water logistics services—including 21st Century tracking technologies (RAMCAT^TM) that allow Shale producers to optimize the efficiency of their water resource management and planning while complying with emerging regulations and reducing cost.

Additional information about GreenHunter Water may be found at www.GreenHunterWater.com.

Forward-Looking Statements

Any statements in this press release about future expectations and prospects for GreenHunter Energy and its business 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. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the substantial capital expenditures required to fund its operations, the ability of the Company to implement its business plan, government regulation and competition. GreenHunter Energy undertakes no obligation to update these forward-looking statements in the future.

Prospect Global (PGRX) Completes Senior Debt Restructuring

DENVER, April 16, 2013 /PRNewswire/ — Prospect Global Resources, Inc. (NASDAQ: PGRX) announced today the successful restructuring of its long-term debt with the Karlsson Group (“KG”), advancing its long-term plan to build a potash mine in the Holbrook Basin of Arizona.

Key highlights include:

• Debt maturity extended to July 2015; interim principal payment of $30 million due January 2015
• Interim payments to KG decreased to 10% of any capital raised after $10 million of capital raised (previously 40% of any capital raised)
• Restructured $6.75 million Unsecured Notes from 3^rd party to extend maturity dates, and reduced interim capital payments to 10% of any capital raised after $10 million of capital raised (previously 33% of any capital raised)
• The Company is required to meet interim financing milestones to fund the continued development of the Holbrook Basin project

“We are very pleased with the outcome of our restructuring efforts,” said Damon Barber, Prospect Global’s President and Chief Executive Officer. “The restructuring of our debt marks a significant step forward for the company. Despite the recent volatility in our stock price, we believe that we are now well positioned to move forward in building long-term value for all shareholders.”

About Prospect Global Resources Inc. [PGRX]:

Regarding Forward-Looking Statements

With the exception of historical matters, the matters discussed in this press release include forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from projections or estimates contained herein. Such forward-looking statements include statements regarding current and future classification of our potash resources and development of our potash mining facility.  Factors that could cause actual results to differ materially from projections or estimates include, among others, potash prices, economic and market conditions, and the additional risks described in Prospect Global’s filings with the SEC, including Prospect Global’s Annual Report on Form 10-K for the year ended March 31, 2012. Most of these factors are beyond Prospect Global’s ability to predict or control. The forward looking statements are made as of the date hereof and, except as required under applicable securities legislation, Prospect Global does not assume any obligation to update any forward-looking statements. Readers are cautioned not to put undue reliance on forward-looking statements.

About Prospect Global Resources, Inc.

Prospect Global Resources, Inc. is a Denver-based company engaged in the exploration and development of a large, high-quality potash deposit located in the Holbrook Basin of eastern Arizona. The company’s stock is traded on the NASDAQ Stock Exchange under the ticker symbol PGRX.

Additional details about Prospect Global Resources Inc. can be viewed at the Company’s website, www.prospectgri.com.

Xplore (XPLR) and Novatek Partner to Provide Rugged Tablet Solution

Xplore Technologies Corp. (NASDAQ: XPLR), the manufacturer of the world’s most powerful, longest-lasting and rugged tablet on the market, and Novatek International announced the Novatek EM-Mobile, the latest environmental monitoring mobile application. The Novatek EM-Mobile combines a rugged tablet equipped with software designed specifically to provide real-time electronic data to increase efficiency in the environmental monitoring and manufacturing processes for the pharmaceutical and biopharmaceutical industry.

Running on an Xplore iX104C5 DMCR (Dual-Mode Clean Room) rugged tablet, the Novatek EM-Mobile solution can be utilized in the sensitive environment of clean rooms without impact, while providing the real-time information needed to manage the pharmaceutical manufacturing process. It is dustproof, waterproof, and can be sanitized using standard chemical disinfectants without damaging the product. It is impervious to harsh cleaning solvents and contaminants of all types, a major benefit needed for clean room operations.

“Our partnership with Novatek further highlights Xplore’s commitment to delivering tailored rugged tablets built to meet the sophisticated demands of the healthcare and pharmaceutical industries,” said Mark Holleran, president and chief operating officer of Xplore Technologies. “The synergy between hardware and software, between Novatek and Xplore, demonstrates how the merging of the latest technologies can be applied for the advancement and improvement in laboratory operations.”

The new Novatek EM-Mobile greatly increases operational efficiency for pharmaceutical professionals. The device streamlines the manufacturing process by facilitating real-time labeling, collection and tracking of environmental monitoring, utility monitoring and product bioburden samples. The system provides completely secure and compliant electronic data management. It also allows pharmaceutical professionals to create accurate and meaningful analysis through the software’s robust reporting, trending and facility/clean room mapping capabilities.

“Through the partnership with Xplore Technologies, we are able to further cater to the pharmaceutical industry by creating a completely mobile product that improves operational efficiency, reduces risk and improves quality in the environmental monitoring and manufacturing process,” said Mike O’Grady, director of sales and marketing for Novatek International. “Xplore not only makes the most rugged tablet on the market but also meets stringent clean room standards—a major factor in our decision for partnering with the company.”

Integrating with Novatek International’s environmental monitoring management software, the Nova-EM, the Novatek EM-Mobile solution module is compliant with 21 CFR Part 11 regulations, which enables it to serve as the system of record for all environmental monitoring and utility monitoring information. The complete package consists of a wireless barcode scanner, wireless barcode printer, a stainless steel cart and mount that can be used to store and transport sampling media, and various air sampling and particle counter equipment.

Please visit www.ntint.com, for more information about Novatek International. For more information about Xplore Technologies, please visit www.xploretech.com; you can read more about its clean room tablet, the iX104C5 DMCR, at www.xploretech.com/products/iX104C5_DMCR/ or the joint solution at http://www.xploretech.com/Novatek_EM_Mobile.

About Xplore Technologies®

Xplore Technologies Corp. has been a leading global provider of truly rugged tablets since 1998. With nearly 90,000 deployments, Xplore tablets are among the most powerful and longest lasting in their class, withstand nearly any hazardous condition or environmental extreme, and feature competitive pricing and significant ROI. The company’s products are sold on a global basis, with channel partners in the United States, Canada, Europe and Asia Pacific. Xplore Technologies’ tablets are deployed across a variety of industries and sectors, such as energy, military operations, manufacturing, distribution, public services, public safety, government, healthcare and other areas with hazardous work conditions. For more information, visit the Xplore Technologies website at www.xploretech.com.

About Novatek International

Novatek International provides a new breed of all-encompassing, process-driven laboratory information management system (LIMS) and other software solutions that target the pharmaceutical, biotech and other healthcare industries. Our unique portfolio of out-of-the-box, easy to use software solutions features specialized modules that help you manage all aspects of your quality environment with less effort and time. Novatek delivers solutions that go beyond LIMS for total enterprise wide automation. For more information, please visit www.ntint.com.

Good Times (GTIM) Announces Acquisition of New Growth Concept

Good Times Restaurants Inc. (Nasdaq: GTIM) today announced that it has entered into a series of agreements with Bad Daddy’s International LLC and Bad Daddy’s Franchise Development LLC for the exclusive development rights for Bad Daddy’s Burger Bar restaurants in Colorado, additional development rights for Arizona and Kansas, and the ownership of 48% of the franchisor entity, Bad Daddy’s Franchise Development LLC.

The Company said that it will develop and operate new Bad Daddy’s Burger Bar restaurants through a wholly owned subsidiary under a license agreement with Bad Daddy’s Franchise Development LLC with its first restaurants planned in Denver, Colorado in 2013. Good Times will own 48% of the franchisor and will provide the franchisor with management services to it under a separate Management Services Agreement.

Bad Daddy’s Burger Bar is a full service, upscale, “small box” restaurant concept operating mostly in inline locations featuring a chef driven menu of gourmet signature burgers, chopped salads, appetizers and sandwiches with a full bar and a focus on a selection of craft microbrew beers in a high energy atmosphere that appeals to a broad consumer base. Bad Daddy’s has received both local and national accolades for the quality and originality of its food and was most recently named a top 25 burger in the U.S. by USA Today. There are four restaurants open and a fifth in the Charlotte airport operated by HMS Host with three additional restaurants in development.

Commenting on the significance of the transaction, David Dobbin, Chairman of Good Times said, “We have spent the last year looking for the right acquisition and growth opportunity and have reviewed over two dozen concepts that can help transform Good Times into a robust growth company. Our criteria was threefold: 1) A differentiated concept that has wide consumer appeal exhibiting high customer loyalty, 2) Industry leading unit economics and 3) Experienced management that wants to participate in accelerated growth. Bad Daddy’s has each of those and more and we couldn’t be more excited to partner with them to build restaurants for our own account and to own a significant portion of the franchisor as we ramp up franchised growth and development.”

The Company said that the agreements include provisions for the first right of purchase of Bad Daddy’s International and its 52% of Bad Daddy’s Franchise Development in the event of a proposed transfer by Bad Daddy’s entities and other terms that align the interests of Good Times and Bad Daddy’s International. Dobbin added, “This gives us the opportunity to deploy Good Times’ existing and new capital into a very high return concept while owning a significant portion of the franchisor in what we believe is a concept with national expansion potential. Bad Daddy’s is generating extraordinary sales out of a relatively small facility. Both sides were willing to be creative in getting to a structure that can significantly leverage our existing corporate infrastructure, accelerate the proven platform Bad Daddy’s has in place and that does not require us to take on the risk of purchasing an early stage growth brand at a very large premium.”

Bad Daddy’s is owned and operated by Dennis Thompson and Frank Scibelli. Mr. Thompson is the developer of multiple restaurant concepts having developed and taken public or sold Lone Star Steakhouse, Bailey’s Sports Grille and Firebird’s Wood Fired Grill. The Bad Daddy’s Burger Bar Concept was created by Mr. Scibelli, who has also produced multiple award-winning restaurant concepts including Mama Ricotta’s, Midwood Smokehouse and Paco’s Tacos & Tequila.

Gary Heller of Heathcote Capital LLC provided advisory services to the Company in connection with the Bad Daddy’s transaction. Mr. Heller is a member of the Company’s board of directors.

Good Times is a regional chain of quick service restaurants located primarily in Colorado providing a menu of high quality all natural hamburgers, 100% all natural tenderloin sandwiches, fresh frozen custard, fresh cut fries, fresh lemonades and other unique offerings. Good Times currently operates and franchises 39 restaurants.

This press release contains forward looking statements within the meaning of federal securities laws. The words “intend,” “may,” “believe,” “will,” “should,” “anticipate,” “expect,” “seek” and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, which may cause Good Times’ actual results to differ materially from results expressed or implied by the forward looking statements. These risks include such factors as the uncertain nature of current restaurant development plans and the ability to implement those plans, delays in developing and opening new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food products, and other matters discussed under the “Risk Factors” section of Good Times’ Annual Report on Form 10-K for the fiscal year ended September 30, 2012 filed with the SEC. Although Good Times may from time to time voluntarily update its forward looking statements, it disclaims any commitment to do so except as required by securities laws.

Local Search Association Recognizes SuperMedia (SPMD) for Marketing Excellence

SuperMedia (NASDAQ:SPMD), a social, local and mobile marketing advisor to small and medium-sized businesses across the United States, was recognized by the Local Search Association with two 2013 Industry Excellence Awards at the LSA’s annual conference in Las Vegas, Nev.

The first award, Social Marketing-Publishing/Agency, was for the “Relationships and Results” campaign, which shows how SuperMedia helps local businesses succeed. It features SuperMedia local marketing experts partnering with business owners and helping them attract customers through social, local and mobile marketing solutions. The campaign demonstrates the effectiveness and benefits to local businesses of having SuperMedia as a trusted marketing advisor.

The second award, Search Marketing Value Story-Publishing/Agency, went to EveryCarListed (ECL), a subsidiary of SuperMedia and one of the nation’s premier online shopping destinations for new and used automobiles. The award was for creating a program that brings car dealers highly qualified leads, with the help of co-op advertising funds from suppliers, helping dealers cost-effectively increase sales. The program was designed in partnership by SuperMedia and Local Spectrum by SMGdm.

“Everyone at SuperMedia is focused on helping local businesses grow,” said SuperMedia’s Chief Marketing Officer Mat Stover. “It’s terrific to see the creativity and effectiveness of our teams recognized.”

The annual Local Search Association conference allows attendees from around the globe to review local search and advertising trends and achievements, exchange ideas and best practices, and explore opportunities to improve the quality of service member firms offer to their customers around the world.

About SuperMedia

SuperMedia Inc. (NASDAQ: SPMD) and its marketing consultants in local communities help small- and medium-sized businesses grow using marketing solutions across print, online, mobile and social media. SuperMedia solutions include: the award-winning Superpages shopping guide mobile site and apps, SocialEze® social marketing solution and SuperGuarantee® program; search engine marketing, directories published for Verizon®, FairPoint® and Frontier®, Superpages.com®, website, video, search engine optimization and reputation monitoring; print and digital display advertising, direct mail solutions and EveryCarListed.com® to shop for new and used vehicles. For more information, visit www.supermedia.com.

Ever-Glory (EVK) Reports 2012 Full Year Financial Results

NANJING, China, April 15, 2013 /PRNewswire/ — Ever-Glory International Group, Inc. (the “Company” or “Ever-Glory”) (NYSE MKT: EVK), a leading apparel supply chain manager and retailer based in China, today reported its financial results for its fiscal year ended December 31, 2012

Total sales for the year ended December 31, 2012 were $279.6 million, an increase of 29.6% from the year ended December 31, 2011. This increase was primarily attributable to increased sales in our retail business as well as our wholesale business.

In 2012, retail sales from LA GO GO, the Company’s branded retail division, increased 102.8% to $108.6 million, compared to $53.5 million in 2011. This increase was primarily due to the increase in new stores opened and same store sales. Ever-Glory had 727 LA GO GO stores as of December 31, 2012, compared to 467 LA GO GO stores at December 31, 2011. Currently, there are LA GO GO stores in more than 20 provinces in China.

In 2012, wholesale sales generated from the Company’s wholesale business increased 5.4% to $171.0 million, compared to $162.2 million last year. This increase was primarily attributable to increased sales in the PRC, the United Kingdom and Japan partially offset for decreased sales in Germany and the United States..

Total gross profit for the year 2012 was $65.1 million, or 23.3% of total sales, compared to $44.5 million, or 20.6% of total sales last year.

Selling expenses for the year 2012 increased 85.8% to $33.7 million compared to $18.1 million last year. As a percentage of sales, selling expenses increased 370 basis points to 12.1% compared to 8.4% last year. The increase was attributable to the increased number of stores, leading to increased numbers of retail employees and increased average salaries, as well as the increased store decoration and marketing expenses associated with the promotion of the LA GO GO brand.

General and administrative expenses for the year 2012 increased 13.3% to $16.2 million compared to $14.3 million last year. As a percentage of sales, general and administrative expenses decreased 80 basis points to 5.8% compared to 6.6% last year. The decrease was attributable to the increase in sales.

Income from operations increased 25.1% to $15.1 million in 2012 compared to $12.1 million in 2011. As a percent of sales, income from operations accounted for 5.4% of our total sales in 2012, a decrease of 0.2% compared to 2011.

For 2012, net income was $12.8 million, or $0.87 per diluted share, an increase of 32.7% from $9.6 million, or $0.65 per diluted share in 2011. Net income for 2012 includes approximately $0.1 million, or $0.01 per diluted share, of non-cash income related to the change in fair value of a derivative liability compared to approximately $0.2 million, or $0.01 per diluted share, of non-cash income related to the change in fair value of a derivative liability for 2011. Excluding this non-cash item for 2012 and 2011, non-GAAP diluted earnings per share were $0.86 in 2012 compared to $0.64 in 2011. See “About Non-GAAP Financial Measures” below.

Balance Sheet and Cash Flow

As of December 31, 2012, Ever-Glory had approximately $9.4 million of cash and cash equivalents, compared to approximately $8.8 million as of December 31, 2011. Ever-Glory had working capital of approximately $11.1 million as of December 31, 2012, and outstanding bank loans of approximately $46.9 million as of December 31, 2012.

Business Outlook

For the first quarter of 2013, Every-Glory anticipates total net sales in the range of $68 to $85 million and net income in the range of $2.0 to $3.0 million. For full year 2013, Every-Glory anticipates total net sales in the range of $300 to $360 million and net income in the range of $11 to $17 million. The full year revenue forecast is comprised of $150 to $180 million in anticipated wholesale revenue and $150 to $180 million in anticipated revenue from retail operations.

About Ever-Glory International Group, Inc.

Based in Nanjing, China, Ever-Glory International Group, Inc. is a leading apparel supply chain manager and retailer in China. Ever-Glory is the first Chinese apparel Company listed on the American Stock Exchange (now called NYSE MKT), and has a focus on middle-to-high grade casual wear, outerwear, and sportswear brands. Ever-Glory maintains global strategic partnerships in Europe, the United States, Japan and China, conducting business with several well-known brands and retail chain stores. In addition, Ever-Glory operates its own domestic chain of retail stores known as “LA GO GO”.

About Non-GAAP Financial Measures

This press release and presentations of management related to the subject matter of this press release contains financial measures for earnings that are not prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) in that they exclude the items arising from the change in fair value of a derivative liability. Ever-Glory believes that these non-GAAP financial measures are useful to investors because they reflect the essential operating activities of Ever-Glory. Readers are cautioned, however, that non-GAAP measures are subject to inherent limitations because they involve the exercise of judgment about which items are excluded in the determination of the non-GAAP financial measure.

The following table provides the non-GAAP financial measure and the related GAAP measure and provides a reconciliation of the non-GAAP measure to the equivalent GAAP measure for 2012 and 2011:

Adjusted Net Income

2012

2011

GAAP Net Income

$12,802,942

$9,647,003

GAAP Diluted EPS

$0.87

$0.65

Addition:

Non-Cash Income for

Change in fair value of derivative liability:

$96,800

$216,000

Non GAAP Net Income:

$12,706,142

$9,431,003

Non GAAP Diluted EPS:

$0.86

$0.64

Diluted Shares used in computation

14,767,253

14,757,319

Conference Call

The Company will hold a conference call today at 8:00 a.m. Eastern Time which will be hosted by Jason Jiansong Wang, Chief Financial Officer. Listeners can access the conference call by dialing # 1-719-325-4790 and referring to the confirmation code 8687528. The conference call will also be broadcast live over the Internet and can be accessed at the Company’s web site at the following URL: http://www.everglorygroup.com

A replay of the call will be available from 11:00 a.m. April 15, 2013 through April 22, 2013 Eastern Time by calling # 1-858-384-5517; pin number: 8687528

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this release and other written or oral statements made by or on behalf of Ever-Glory International Group, Inc. (the “Company”) are “forward looking statements” within the meaning of the federal securities laws. Statements regarding future events and developments and the Company’s future performance, as well as management’s expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including, without limitation, market acceptance of the Company’s products and offerings, development and expansion of the Company’s wholesale and retail operations, the Company’s continued access to capital, currency exchange rate fluctuation and other risks and uncertainties. The actual results the Company achieves (including, without limitation, the results stemming from the future implementation of the Company’s strategies and the revenue, net income and new retail store projections set forth herein) may differ materially from those contemplated by any forward-looking statements due to such risks and uncertainties (many of which are beyond the Company’s control). These statements are based on management’s current expectations and speak only as of the date of such statements. Readers should carefully review the risks and uncertainties described in the Company’s latest Annual Report on Form 10-K and other documents that the Company files from time to time with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Contact Information

Company Contact
Yanhua Huang
Tel: +86-25-5209-6875

EVER-GLORY INTERNATIONAL GROUP, INC. AND SUBSDIARIES

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

FOR THE YEARS ENDED DECEMBER 31, 2012 AND 2011

2012

2011

SALES

$

279,633,212

$

215,779,014

COST OF SALES

214,577,277

171,234,899

GROSS PROFIT

65,055,935

44,544,115

OPERATING EXPENSES

Selling expenses

33,723,088

18,145,937

General and administrative expenses

16,248,947

14,344,606

Total operating expenses

49,972,035

32,490,543

INCOME FROM OPERATIONS

15,083,900

12,053,572

OTHER INCOME (EXPENSE)

Interest income

1,348,646

703,039

Interest expense

( 2,103,103)

(1,446,192)

Change in fair value of derivative liability

96,800

216,000

Other income

284,310

160,830

Total other income(expense)

(373,347)

(366,323)

INCOME BEFORE INCOME TAX EXPENSE

14,710,553

11,687,249

INCOME TAX EXPENSE

(1,907,611)

(2,040,246)

NET INCOME

12,802,942

9,647,003

Foreign currency translation gain

385,284

1,327,093

COMPREHENSIVE INCOME

13,188,226

10,974,096

EARNINGS PER SHARE:

Basic and diluted

$

0.87

$

0.65

Weighted average number of shares outstanding

Basic and diluted

14,767,253

14,757,319

SOURCE Ever-Glory International Group, Inc.

(GENE) Subsidiary Phenogen at 23rd Annual National Interdisciplinary Breast Center Conference

CHARLOTTE, N.C., April 15, 2013 (GLOBE NEWSWIRE) — Phenogen Sciences, Inc. recently presented study results demonstrating that BREVAGen™, a first-in-class, scientifically-validated predictive breast cancer risk assessment test, more accurately identifies a woman’s chances of getting breast cancer than the Breast Cancer Risk Assessment Tool (BCRAT) alone, leading to increased patient compliance with performing regular self breast exams and annual screenings. The clinical study, Impact of Genomics on the Assessment and Management of Breast Cancer Risk in a Woman’s Healthcare Clinic was performed at Personalized Women’s Healthcare in Plano, TX and the findings were presented at the 23rd Annual National Interdisciplinary Breast Center Conference in Las Vegas, NV, March 23-27, 2013.

Typically, the identification of patients who are at an elevated risk for sporadic (non-hereditary, non-familial) breast cancer is performed using the National Cancer Institute’s (NCI) BCRAT. But recently, with the introduction of the BREVAGen test, a woman’s risk for developing sporadic, estrogen-positive breast cancer is more accurately identified.  BREVAGen examines a woman’s clinical risk factors, such as their lifetime exposure to estrogen, combined with scientifically validated markers to determine each patient’s personalized five-year and lifetime risk of developing breast cancer. 1   BREVAGen test results support current American Cancer Society (ACS), American Society of Clinical Oncology (ASCO) and The National Comprehensive Cancer Network (NCCN) guidelines for prevention and early detection of breast cancer.2,3

“Our practice has been using the BREVAGen test for over a year and it has helped us to make more informed decisions in how we monitor our patients who are at risk and develop personalized breast health plans,” said Eric Jacoby, M.D. “We are pleased that the results of our report clearly demonstrate that genetic information provided by the BREVAGen test show significant reductions in the five year and lifetime intermediate risk groups, 35 percent and 23 percent respectively.”

Study Results

In the study of 197 women over the age of 35, 68 percent had a higher than the population average five year risk for developing breast cancer, as assessed by the NCI-BCRAT. Evidence suggests that patients who are close to the 1.66 percent ASCO threshold, where it is important that an accurate risk assessment is made, are those who may see an impact of the BREVAGen test.  This intermediate risk group in the BREVAGen study, who categorically fell between 1.5 and 2.0 percent, saw their five-year risk reduced by 35 percent.  In the case of the lifetime risk where the ACS classifies the threshold at 20 percent, BREVAGen provided a 23 percent reduction for the intermediate risk group.  The study results are clearly aligned with the ASCO and ACS thresholds and showed that when adding genotypic information from the BREVAGen test to the BCRAT, there is a significant reclassification of individual risk.  Alignment with the ASCO and ACS thresholds enables healthcare professionals to develop future health plans for their patients.

How BREVAGen Works

The BREVAGen predictive risk test is administered in a physician’s office using a simple, non-invasive “oral-swab”.  Following analysis in our CLIA-certified laboratory, physicians receive a comprehensive genetic risk prediction report to review with the patient.  The patient’s risk of breast cancer is calculated by combining their relative risk score from seven genetic markers, called SNP’s (single nucleotide polymorphisms), with factors that comprise the patient’s clinical and reproductive history including current age, age at menarche, age at live first birth and race/ethnicity.

The BREVAGen test provides five-year and lifetime predictive risk assessments to more accurately evaluate the patient’s risk of developing sporadic breast cancer, regardless of family history.

Clinically Validated

BREVAGen was proven superior in determining breast cancer risk compared to Gail score alone.1  BREVAGen is the first genetic risk prediction test to have been validated in a large scale, peer reviewed, case controlled study. Utilizing data from the U.S. Women’s Health Initiative (WHI) Clinical Trial, 3,300 women underwent breast cancer assessment utilizing the BREVAGen test.  Of those 3,300 women, 1,664 were diagnosed with breast cancer and 1,636 were in the breast cancer-free control group.

About Breast Cancer

• Approximately one in eight women will get breast cancer equating to approx. 207,000 American women.4
• Up to 80% of women who get breast cancer do not have a strong family history of the disease.2
• Risk of invasive vs. non-invasive breast cancer is approximately four times greater in women age 40-645
• Approximately 75% of all breast cancer is estrogen-receptor positive and, if detected early, can be effectively treated with five-year survival rates of over 95%

Breast Cancer Demographics

According to the American Cancer Society, breast cancer is the most common cancer among women in the United States, other than skin cancer.  It is the second leading cause of death in women, after lung cancer.4 According to the 2010 breast cancer demographics there are:

• Approximately 207,000 new cases diagnosed each year4
• Approximately 40,000 deaths related to breast cancer in women, annually4

BREVAGen reclassified 64% of above average Gail risk subjects (see attached chart)1

BREVAGen reclassified 64% of Gail scores above average risk subjects as either high or low risk for development of hormone-dependent breast cancer.  Furthermore, the BREVAGen test reclassified the breast cancer risk for 33% of the total 3,300 trial subjects.1

About BREVAGen

The first product in Phenogen Sciences’ portfolio, BREVAGen is a predictive risk test for sporadic, hormone-dependent breast cancer.  The BREVAGen test combines a woman’s clinical history of estrogen exposure with the presence of identified genetic markers to determine her five-year and lifetime risk of developing breast cancer.  For women whose clinical profile indicates prolonged estrogen exposure, BREVAGen helps to provide a more accurate risk assessment for estrogen-receptor positive breast cancer.  The test results assist physicians in developing a personalized care path toward managing each woman’s risk of developing breast cancer with greater precision than ever before. For more information, visit http://www.brevagen.com.

• Non-invasive, easy-to-use predictive risk assessment test
• The first genetic risk prediction test to have been validated in a large-scale, peer-reviewed, case-controlled study1
• BREVAGen reclassified 64% of subjects with an above average Gail risk score as either high or average risk for development of breast cancer1
• Aligns with existing industry guidelines for the prevention of estrogen-receptor positive breast cancer2,3

Click here for BREVAGen B-roll/video:

• Video One:  http://www.youtube.com/watch?v=-em2pNeOMNs &feature=plcp
• Video Two:  http://www.youtube.com/watch?v=BSExN7mNlzA &feature=plcp

About Phenogen Sciences, Inc.

Phenogen Sciences, the U.S. subsidiary of Australia-based Genetic Technologies Limited, is a pioneer in personalized healthcare.  Phenogen Sciences offers novel predictive testing and assessment tools that help physicians proactively manage women’s health risks.  Phenogen Sciences’ lead product, BREVAGen™ is a scientifically validated test that combines a woman’s clinical history of estrogen exposure with her genetic predisposition to its effects; more accurately categorizing her personal risk of developing breast cancer.  For more information, visit http://www.phenogensciences.com.

About Genetic Technologies Limited

Genetic Technologies is an established diagnostics company with more than 20 years of experience in commercializing genetic testing, non-coding DNA and product patenting. The company has operations in Australia and the U.S. and is dual-listed on the ASX (GTG.AX) and NASDAQ (GENE). Genetic Technologies is focused on the commercialization of its patent portfolio through an active out-licensing program and the global expansion of its oncology and cancer management diagnostics assets. For more information, please visit http://www.gtglabs.com.

1 Mealiffe M, Stokowski RP, Rhees, BK, et al. J Nat Cancer Inst. 2010;102(21):1618-1627.
2 Saslow D, Boetes C, Burke W, et al. CA Cancer J Clin. 2007;57(2):75-89.
3 Visvanathan K, Chlebowski RT, Hurley P, et al. J Clin Oncol. 2009;27(19):3235-3258.
4 Breast Cancer Overview.  American Cancer Society.  Accessed 3/14/12 at
http://www.cancer.org/Cancer/BreastCancer/OverviewGuide/breast-cancer-overview?docSelected=breast-cancer-
overview-key-statistics
5 DeSantis C, Siegel R, Bandi P, Jemal A. CA:  A Cancer Journal For Clinicians. 2011;61:  409-418

A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=18124

CONTACT: Andrea Preston
         Kovak-Likly Communications
         (203) 762-8833
         APreston@KLCpr.com