Archive for December, 2013

(IACI) Reorganizes, Greg Blatt to become Chairman of IAC’s newly-created Match Group

NEW YORK, Dec. 19, 2013 — IAC (Nasdaq: IACI) announced today that it is reorganizing and that Greg Blatt, the Company’s CEO, will become the Chairman of the newly created Match Group, which will initially consist of IAC’s Match businesses, Tutor.com, DailyBurn and IAC’s investment in Skyllzone. Mr. Blatt will continue to report directly to Barry Diller, the Chairman and Senior Executive of the Company.  Sam Yagan, the CEO of Match, will become CEO of the Group, continuing to report to Mr. Blatt, where he will focus on growing the dating businesses, leveraging best practices across the Match Group, and expanding the Match Group portfolio beyond its current verticals. Mr. Blatt will step down as CEO of IAC, and the Company does not intend to name a new CEO.  Instead, Joey Levin, CEO of Search & Applications, and Kerry Trainor, CEO of Vimeo, will now report directly to Mr. Diller.

“Greg Blatt has performed superbly as CEO of IAC for the last three years,” said Mr. Diller.  “During that period, we’ve essentially doubled our stock price and increased our operating profit by over 180%.  Over the last three years our areas of focus have crystallized, our management teams have developed, our reporting lines have consolidated, and Greg and I agree that a less centralized operating structure, pushing talent and decision-making closer to the businesses, is now the best way to achieve our growth objectives.”

Mr. Diller added, “IAC has evolved into three principal areas of focus, and we’re now organizing that way.  First the Match Group, with early and later stage businesses, collectively represents a significant portion of IAC’s value.  Our ambitions for growth here are great, and with Greg continuing to work alongside Sam Yagan and the talented management teams these businesses have in place, I have utterly no worry that our goals will be realized. Then we have Search and Applications, which has been managed better than well for many years by Joey Levin, and we’re confident in its continued success in the content and search areas.  And finally we have our Media endeavors, including Vimeo under the leadership of Kerry Trainor, which we believe will create tremendous value for our shareholders going forward.”

Mr. Blatt said, “It’s been a great three years as IAC’s CEO and I am looking forward to being able to spend more of my time helping to build the businesses in the Match Group.  Sam and the team at Match are doing an outstanding job, and Mandy Ginsberg, Andy Smith and their teams are really starting to get things going at Tutor and DailyBurn.  We all believe that there is a big opportunity to leverage common strengths to the competitive advantage of these businesses, as well as other premium service businesses we may yet develop or acquire.  I’m also very confident in the performance of the rest of IAC’s businesses, and have real faith in the management teams in place to get the job done.”

Mr. Yagan said, “Since I joined Match with the OkCupid acquisition almost three years ago, the Match segment has continued to expand and now includes most of the premiere dating brands in the world.  With today’s creation of the Match Group, we have even grander ambitions for our future.  I look forward to the ongoing collaboration with Greg to drive growth in the dating space, leverage expertise across multiple companies and expand the broader base of businesses that can be complemented by Match’s operating strengths and functional expertise.”

Ms. Ginsberg and Mr. Smith will continue to report to Mr. Blatt.

About IAC
IAC (NASDAQ: IACI) is a leading media and internet company comprised of more than 150 brands and products, including Ask.com, About.com, Match.com, HomeAdvisor and Vimeo. Focused in the areas of search, applications, online dating, local and media, IAC’s family of websites is one of the largest in the world, with more than a billion monthly visits across more than 100 countries. The Company is headquartered in New York City with offices in various locations throughout the U.S. and internationally. To view a full list of IAC’s companies, please visit our website at www.iac.com.

Contact Information:
IAC Corporate Communications
Justine Sacco / justine.sacco@iac.com
(212) 314-7326

IAC Investor Relations
Nick Stoumpas / nick.stoumpas@iac.com
(212) 314-7495

Thursday, December 19th, 2013 Uncategorized Comments Off on (IACI) Reorganizes, Greg Blatt to become Chairman of IAC’s newly-created Match Group

(CDTI) Receives EPA Verifications for Purifilter®EGR, Purifilter®OR

VENTURA, Calif., Dec. 19, 2013 — Clean Diesel Technologies, Inc. (Nasdaq:CDTI) (“CDTi”), a leader in advanced emissions control solutions, is pleased to announce that it has received two significant emission reduction product verifications from the U.S. Environmental Protection Agency (the “EPA”) for use in heavy duty highway truck engines and off-road engines.

The uniquely designed Purifilter®EGR, featuring CDTi’s proprietary MPC® technology, is a passively-regenerating diesel particulate filter that provides exceptional filtration and regeneration efficiency for the removal of particulate matter. The EPA first verified Purifilter®EGR for 2002-2010 heavy duty highway truck engines in November 2012. In October 2013, the EPA extended the verification to cover all exhaust gas recirculation (“EGR”) and non-EGR heavy duty highway engines certified with particulate matter emissions at or below 0.1 g/hp-hr manufactured between 1993 and 2010. This extension of the Purifilter®EGR verification means that it can now be applied to the vast majority of heavy duty highway engines sold over the past twenty years.

In December 2013, the EPA verified Purifilter®OR for Tier 1 thru Tier 3 (1996 to 2012) off-road engines with power ratings from 100 to 603hp and certified with particulate matter emissions values of 0.2 g/hp-hr or less. The Purifilter®OR is the off-road version of Purifilter®EGR. The EPA has recently announced a $2 million funding for a 2013 construction equipment rebate program. In addition, the EPA has announced the availability of $4 million in DERA funding for clean diesel projects at ports. CDTi’s Purifilter®EGR and Purifilter®OR may now be employed by fleets under these EPA funded programs in addition to CDTi’s other EPA and Air Resources Board verified diesel emission reduction products.

“With EPA verification granted, CDTi can assist highway and off-road fleet managers to broadly retrofit their vehicles with passively regenerating diesel particulate filters in order to reduce particulate matter emissions in excess of 90%. With our extensive retrofit experience and large distributor network, we are absolutely committed to addressing this larger market opportunity,” said Ian MacDonald, Vice President, Sales & Marketing for CDTi.

About CDTi

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

Forward-Looking Statements Safe Harbor

Certain information contained in this press release constitutes forward-looking statements. Any statements contained herein that are not statements of historical fact should be considered forward-looking statements. You can identify these forward-looking statements by the use of words such as “believe(s)”, “expect(s)”, “anticipate(s)”, “plan(s)”, “may”, “will”, “would”, “intend(s)”, “estimate(s)” or similar expressions, as well as other words or expressions referencing future events, conditions or circumstances, whether in the negative or affirmative. Examples of forward-looking statements contained in this press release include, among others, statements regarding potential uses for CDTi’s Purifilter®EGR, the availability of EPA-announced funding, the use of CDTI’s Purifilter®EGR and Purifilter®OR by fleets under EPA-funded programs, the anticipated benefits of receiving EPA verification, and CDTi’s plans with respect to addressing market opportunities. Forward-looking statements are based on a series of expectations, assumptions, estimates and projections which involve substantial uncertainty and risk. In general, actual results may differ materially from those indicated by such forward-looking statements as a result of risks and uncertainties, including, but not limited to, the potential future unavailability of government funding, unforeseen difficulties in applying Purifilter®EGR or Purifilter®OR to heavy duty highway engines or fleets under EPA funded programs, unforeseen difficulties in achieving sales despite the potential applicability of CDTi’s products, and other risks and uncertainties discussed or referenced in CDTi’s Annual Report on Form 10-K filed on March 27, 2013 and other filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent CDTi’s estimates only as of the date such statements and should not be relied upon as representing CDTi’s estimates as of any subsequent date. CDTi specifically disclaims any obligation to update forward-looking statements. All forward-looking statements in this press release are qualified in their entirety by this cautionary statement.

CONTACT: Kevin M. McGrath
         Cameron Associates, Inc.
         Tel:  +1 (212) 245-4577
Thursday, December 19th, 2013 Uncategorized Comments Off on (CDTI) Receives EPA Verifications for Purifilter®EGR, Purifilter®OR

(OXBT) Business Review and Update, Q2 FY14 Filing

Oxygen Biotherapeutics, Inc.,(“OBI”) (NASDAQ: OXBT) a specialty pharmaceutical company focused on developing and commercializing a portfolio of products for the critical care market, today announced that it has filed its Quarterly Report on Form 10-Q for its second quarter fiscal year (FY) 2014 ended October 31, 2013. In connection with that filing, the company is providing a review of recent achievements and an update on business operations and future milestones.

As reported on November the 14th, 2013, Oxygen completed its acquisition of certain assets of Phyxius Pharma Inc. (Phyxius Pharma), a privately-held biopharmaceutical company focused on the development and near-term commercialization of levosimendan to prevent and treat cardiac surgery patients at risk for developing low cardiac output syndrome (LCOS), a significant unmet medical need. This acquisition allowed Oxygen Biotherapeutics to acquire the exclusive rights to develop and commercialize levosimendan in North America. John Kelley, CEO and Co-Founder of Phyxius Pharma, joined Oxygen Biotherapeutics as the CEO, along with two other senior executives from Phyxius that also joined the senior management team.

Levosimendan was discovered and developed by Orion Pharma, Orion Corporation of Espoo Finland. Levosimendan is a calcium sensitizer developed for intra-venous use in hospitalized patients with acutely decompensated heart failure. It is currently approved in over 50 countries for this indication and not available in the United States. It is under development in North America for reduction in morbidity and mortality of cardiac surgery patients at risk of low cardiac output syndrome (LCOS). The acquisition brings to Oxygen Biotherapeutics not only the exclusive rights in North America to develop and commercialize levosimendan for the specific indication of prevention and treatment of LCOS, but also the FDA’s approval of Fast Track status for a Phase 3 trial, and the FDA’s SPA which represents agreement with the Phase III clinical trial’s study protocol. The FDA has provided guidance that a single successful trial will be sufficient to support approval of levosimendan in this indication.

On December 11, 2013 Oxygen Biotherapeutics announced that it had selected Duke University’s Duke Clinical Research Institute, (DCRI) to conduct the Phase 3 trial of the levosimendan. DCRI is the world’s largest academic clinical research organization, with substantial experience in conducting cardiac surgery trials. The Phase 3 trial will be conducted in approximately 50 major cardiac surgery centers in North America. The trial will enroll patients undergoing coronary artery bypass graphs (CABG) and/or mitral valve surgery who are at risk for developing LCOS. The trial will be a double blind, randomized, placebo controlled study seeking to enroll 760 patients. It is expected that enrollment will begin in the third quarter of 2014, and will take approximately 18 months to complete. The protocol of the Phase 3 trial has been submitted to ClinicalTrials.gov and should be available for review in the next few days.

It was earlier announced that researchers at the DCRI recently published findings of a meta-analysis of multiple clinical trials that evaluated the use of levosimendan in patients undergoing heart surgery. The study aggregated and analyzed results from 14 independent clinical trials with a total of 1,155 patients. The published results showed that levosimendan was associated with reduced mortality and other adverse outcomes including heart attacks during and after operation in patients with reduced heart function undergoing heart surgery.

John Kelley, CEO of Oxygen Biotherapeutics, stated, “These findings are highly supportive of our approved Phase 3 trial design which includes mortality, need for dialysis and peri-operative myocardial infarction, as components of the primary composite endpoint. With the support of these data and the FDA’s guidance, we have designed a very modest sized and cost efficient trial of 760 patients. This is far smaller than other cardiac trials which typically require larger patient populations.”

In August 2013, OBI converted $4.6 million in outstanding principal amount of a convertible promissory note into 4,600 shares of Series D Convertible Preferred Stock. The note, which was scheduled to mature on July 1, 2014, carried an interest rate of 15% per annum. This transaction reduced OBI’s debt from $4.9 million to $300,000 and increased net shareholder equity by approximately $3.5 million.

At October 31, 2013, OBI had $2.5 million in cash compared to $0.8 million at October 31, 2012. Through the six months ended October 31, 2013, net cash used in operations was $3.58 million, compared to $2.74 million in the comparable period of 2012. This increase is due primarily to additional research and development costs associated with the Oxycyte Phase II-b clinical trials and the legal fees associated with the acquisition of Phyxius Pharma Inc.’s assets.

In November 2013, OBI received approximately $6.2 million through the exercise of 2,377,297 warrants. These warrants were issued by the Company in connection with its July 2013 Series C 8% Convertible Preferred Stock financing. The exercise of these warrants combined with our working capital at October 31, 2013 is sufficient to fund our operations through June 30, 2014.

“Oxygen Biotherapeutics, Inc has made tremendous progress in 2013” said John Kelley, CEO. “The acquisition of the Phyxius Pharma assets was a transformative deal for this company. We now have the opportunity to build a company with a portfolio of assets focused on the critical care market. We look forward to an exciting 2014 with significant accomplishments ahead.

Anticipated 2014 Milestones

  • Enroll first patient in the Phase 3 trial for levosimendan in cardiac surgery patients at risk for developing LCOS in July 2014.
  • Completion of Army-funded preclinical safety studies for Oxycyte in the 2nd quarter of 2014.
  • Completion of the second cohort of patient enrollment in the phase II-b clinical trial for traumatic brain injury (TBI) in the 3rd quarter of 2014.

About Oxygen Biotherapeutics

Oxygen Biotherapeutics, Inc. is developing medical products for the acute care market. The company recently acquired the North American rights to develop and commercialize levosimendan. The United States Food and Drug Administration (FDA) has granted Fast Track status for levosimendan for the reduction of morbidity and mortality in cardiac surgery patients at risk for developing Low Cardiac Output Syndrome (LCOS). In addition, the FDA has agreed to a Phase 3 protocol design under Special Protocol Assessment (SPA), and provided guidance that a single successful trial will be sufficient to support approval of levosimendan in this indication. The company also has developed a proprietary perfluorocarbon (PFC) therapeutic oxygen carrier called Oxycyte® that is currently in clinical and preclinical studies for intravenous delivery for indications such as traumatic brain injury, decompression sickness and stroke.

Caution Regarding Forward-Looking Statements

This news release contains certain forward-looking statements by the company that involve risks and uncertainties and reflect the company’s judgment as of the date of this release. The forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, the finalization of definitive agreements with DCRI, matters beyond the company’s control that could lead to delays in the clinical study, delays in new product introductions and customer acceptance of these new products, and other risks and uncertainties as described in the company’s filings with the Securities and Exchange Commission, including in its quarterly report on Form 10-Q filed on September 17, 2013, and annual report on Form 10-K filed on June 26, 2013, as well as its other filings with the SEC. The company disclaims any intent or obligation to update these forward-looking statements beyond the date of this release. Statements in this press release regarding management’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Thursday, December 19th, 2013 Uncategorized Comments Off on (OXBT) Business Review and Update, Q2 FY14 Filing

(HOTR) Files Joint Status Report Regarding Mediation

CHARLOTTE, NC–(December 19, 2013) – Chanticleer Holdings, Inc. (NASDAQ: HOTR) (Chanticleer Holdings, or the “Company”), headquartered in Charlotte, North Carolina, today announced that the Company through its counsel, Stanley Wakshlag of Kenny Nachwalter, P.A., has filed on behalf of all parties a Joint Status Report in relation to a court ordered mediation that took place on December 10, 2013 regarding the class action suit (Case No.: 12-CV-81123-JIC) of Francis Howard v. Chanticleer Holdings, Inc., Michael D. Pruitt, Eric S. Lederer, Paul I Moskowitz, Keith Johnson, Mark Hezlett, and Creason & Associates, P.L.L.C.

On December 18, 2013, the parties came to an agreement in principal to a class-wide settlement, subject to negotiation and execution of definitive documentation and Court approval. Although other material provisions remain to be negotiated, the parties have agreed to a cash settlement of $850,000 of which $837,500 will be paid by the Company’s insurance carrier, XL Specialty Insurance Company, and $12,500 to be contributed by Creason & Associates, PLLC.

“We are pleased to have reached this agreement in principal and hope to negotiate and finalize documents within the next sixty days,” commented Mike Pruitt, CEO and President of Chanticleer Holdings.

About Chanticleer Holdings, Inc
Chanticleer Holdings (NASDAQ: HOTR) is focused on expanding the Hooters® casual dining restaurant brand in international emerging markets and American Roadside Burgers Inc (“ARB”), a Charlotte, N.C. based chain. Chanticleer currently owns in whole or part of the exclusive franchise rights to develop and operate Hooters restaurants in South Africa, Hungary and parts of Brazil, and has joint ventured with the current Hooters franchisee in Australia, while evaluating several additional international opportunities. The Company currently owns and operates in whole or part of eight Hooters restaurants in its international franchise territories: Pretoria, Durban, Johannesburg, Cape Town and Emperor’s Palace in South Africa; Campbelltown in Australia; Budapest in Hungary; and Nottingham in the United Kingdom. ARB, purchased by Chanticleer Holdings on October 1, 2013, has a total of 5 casual restaurants — 1 location in Smithtown, N.Y., 2 locations in Charlotte, N.C., 1 location in Columbia, S.C., and the newest location is in Greenville, S.C. The Company also owns a majority interest in JF Restaurants, LLC and JF Franchising Systems, LLC, a fresh food-focused casual dining establishment with 5 restaurant locations.

For further information, please visit www.chanticleerholdings.com
Facebook: www.Facebook.com/ChanticleerHOTR
Twitter: http://Twitter.com/ChanticleerHOTR
Google+: https://plus.google.com/u/1/b/118048474114244335161/118048474114244335161/posts

Forward-Looking Statements:
Any statements that are not historical facts contained in this release are “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” “hope” and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or required licenses, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the companies do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.

Press Information:
Chanticleer Holdings, Inc.
Mike Pruitt
Chairman/CEO
Phone: 704.366.5122 x 1
mp@chanticleerholdings.com

Thursday, December 19th, 2013 Uncategorized Comments Off on (HOTR) Files Joint Status Report Regarding Mediation

(OMER) FDA Grants Orphan Drug Designation to OMS721 For Thrombotic Microangiopathies

— Phase 2 Program Expected to Begin Next Quarter —

SEATTLE, Dec. 18, 2013 — Omeros Corporation (NASDAQ: OMER) today announced that OMS721, the company’s lead human monoclonal antibody targeting mannan-binding lectin-associated serine protease-2 (MASP-2), the key regulator of the lectin pathway of the immune system, has received orphan drug designation from the U.S. Food and Drug Administration (FDA) for prevention of complement-mediated thrombotic microangiopathies (TMAs).

TMAs, including atypical hemolytic uremic syndrome and thrombotic thrombocytopenic purpura, are a family of rare, debilitating and life-threatening disorders characterized by multiple thrombi (clots) in the microcirculation of the body’s organs, most commonly the kidney and brain. The lectin pathway, one of the principal complement activation pathways in the immune system, is thought to play a central role in the development of TMAs. By targeting MASP-2, OMS721 specifically blocks the lectin pathway. Omeros controls the worldwide rights to MASP-2 and all therapeutics targeting MASP-2.

Omeros is completing a Phase 1 study to assess the safety and pharmacokinetics of OMS721. As previously announced, at the highest subcutaneous dose administered to date in this study, OMS721 achieved serum concentrations that resulted in a high degree of inhibition of lectin pathway activation. The serum concentrations seen in the Phase 1 subjects are similar to those associated with efficacy in animal models of diseases, including TMA, linked to the lectin pathway. Omeros expects to report additional Phase 1 clinical data in early 2014. The Phase 2 clinical program evaluating OMS721 for the prevention of complement-mediated TMAs is expected to begin in the first quarter of 2014.

“We are pleased that the FDA has granted orphan drug designation for OMS721. The designation should accelerate the development of OMS721 and, given the limitations of current treatments for TMAs, we look forward to initiating our Phase 2 clinical program next quarter,” stated Gregory A. Demopulos, M.D., chairman and chief executive officer of Omeros. “The remainder of this year and the first part of 2014 promise to be exciting times across other Omeros programs as well. This month we will initiate our OMS824 Phase 2 clinical program in Huntington’s disease – earlier granted orphan drug designation by the FDA – and could also report Phase 2a data for OMS824 in schizophrenia. We then look to the potential marketing approval of Omidria™, its launch completing our transition to a commercial company.”

Orphan designation by the FDA is granted to promote the development of drugs that target conditions affecting 200,000 or fewer U.S. patients annually and that are expected to provide significant therapeutic advantage over existing treatments. Orphan designation qualifies a company for benefits that apply across all stages of drug development, including accelerated approval process, seven years of market exclusivity following marketing approval, tax credits on U.S. clinical trials, eligibility for orphan drug grants, and waiver of certain administrative fees.

About Omeros’ MASP-2 Program

Omeros controls the worldwide rights to MASP-2 and all therapeutics targeting MASP-2, a novel pro-inflammatory protein target involved in activation of the complement system, which is an important component of the immune system. The complement system plays a role in the inflammatory response and becomes activated as a result of tissue damage or microbial infection. MASP-2 appears to be unique to, and required for the function of, one of the principal complement activation pathways, known as the lectin pathway. Importantly, inhibition of MASP-2 does not appear to interfere with the antibody-dependent classical complement activation pathway, which is a critical component of the acquired immune response to infection, and its abnormal function is associated with a wide range of autoimmune disorders. MASP-2 is generated by the liver and is then released into the circulation. Adult humans who are genetically deficient in one of the proteins that activate MASP-2 do not appear to be detrimentally affected by the deficiency. Therefore, Omeros believes that it may be possible to deliver MASP-2 antibodies systemically and OMS721, its lead MASP-2 antibody, is designed to be self-administered by subcutaneous injection.

Omeros also believes that it has identified the proteins that activate the complement system’s alternative pathway in humans, which is linked to a wide range of immune-related disorders. In addition to its lectin pathway inhibitors, the Company is advancing the development of antibodies that would block activation of the alternative pathway alone or in combination with the lectin pathway.

About Omeros Corporation

Omeros is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing small-molecule and protein therapeutics targeting inflammation, coagulopathies and disorders of the central nervous system. Derived from its proprietary PharmacoSurgery® platform, the Company’s lead drug product, OMS302 for lens replacement surgery, is currently under review for marketing approval by both the US Food and Drug Administration and the European Medicines Agency with commercial launch planned for 2014. Omeros’ five other clinical programs are focused on schizophrenia, Huntington’s disease and cognitive impairment; addictive and compulsive disorders; complement-related diseases; and preventing problems associated with surgical procedures. Omeros also has a proprietary GPCR platform, which is making available an unprecedented number of new GPCR drug targets and corresponding compounds to the pharmaceutical industry for drug development.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are subject to the “safe harbor” created by those sections for such statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions. Forward-looking statements are based on management’s beliefs and assumptions and on information available to management only as of the date of this press release. Omeros’ actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including, without limitation, risks associated with Omeros’ unproven preclinical and clinical development activities, regulatory oversight, product commercialization, intellectual property claims, initiation or completion of clinical trials and the risks, uncertainties and other factors described under the heading “Risk Factors” in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2013. Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements, and the Company assumes no obligation to update these forward-looking statements, even if new information becomes available in the future.

Wednesday, December 18th, 2013 Uncategorized Comments Off on (OMER) FDA Grants Orphan Drug Designation to OMS721 For Thrombotic Microangiopathies

(ALIM) and FDA Enter Into Labeling Discussions for ILUVIEN®

Alimera Plans to Respond to October Complete Response Letter in First Quarter 2014

 

ATLANTA, Dec. 18, 2013 — Alimera Sciences, Inc. (NASDAQ: ALIM) (Alimera), a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals, today announced that it has entered into labeling discussions with the U.S. Food and Drug Administration (FDA) for ILUVIEN® and, as a result, reached an agreement with the FDA that Alimera’s participation in the January 2014 Dermatologic and Ophthalmic Advisory Committee meeting was no longer necessary. Alimera will focus instead on drafting its response to the Complete Response Letter (CRL) received from the FDA in October 2013 with a goal of submitting the response in the first quarter of 2014.

In its response, Alimera intends to address concerns the FDA raised regarding the facility at which ILUVIEN is manufactured. In addition, Alimera expects to provide a safety update on ILUVIEN, which will include data from ILUVIEN patients and from physician experience with the applicator in the United Kingdom (U.K.) and Germany, where ILUVIEN is currently commercially available. The FDA has indicated that Alimera will not be required to conduct any new clinical trials in connection with the FDA’s review of ILUVIEN prior to approval.

“We are very pleased to have had the opportunity to meet with the FDA to discuss appropriate labeling for ILUVIEN and to determine the next steps required to move ILUVIEN closer to an FDA approval,” said Dan Myers, president and chief executive officer of Alimera. “We are committed to addressing the remaining issues that were raised in the CRL and plan to submit our response in the first quarter of 2014, which will include recent safety data gathered from our patients in Europe.”

In addition to the U.K., where the National Institute for Health and Care Excellence recently published positive final guidance, ILUVIEN is being sold in Germany and is expected to launch in France in 2014. ILUVIEN is also approved in Austria, Portugal and Spain and has been recommended for approval in Italy. In addition, Alimera has filed with the Medicines and Healthcare Products Regulatory Agency in the U.K. as the Reference Member State for 10 additional European Union (EU) country approvals through the Mutual Recognition Procedure.

About ILUVIEN®

ILUVIEN (190 micrograms intravitreal implant in applicator) is a sustained release intravitreal implant indicated in Europe for the treatment of vision impairment associated with chronic DME considered insufficiently responsive to available therapies. Each ILUVIEN implant provides a therapeutic effect of up to 36 months by delivering sustained sub-microgram levels of fluocinolone acetonide. ILUVIEN is injected in the back of the patient’s eye to a position that takes advantage of the eye’s natural fluid dynamics. The applicator employs a 25-gauge needle, which allows for a self-sealing wound. In the FAME™ Study, the most frequently reported adverse drug reactions included cataract development and increased ocular pressure. ILUVIEN has not been approved for sale in the U.S.

About Alimera Sciences, Inc.

Alimera Sciences, Inc., headquartered in Alpharetta, Georgia, is a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals. Alimera’s European operations are conducted from London by its wholly-owned subsidiary, Alimera Sciences Limited.

About the Mutual Recognition Procedure

The Mutual Recognition Procedure is a procedure used by pharmaceutical companies to expand marketing authorization into additional countries in the EU. A company that has been granted a marketing authorization for selling pharmaceuticals in one EU member state can use this procedure to request that same authorization in other member states. The Reference Member State’s assessment report forms the basis for requesting the other member states’ mutual recognition of the marketing authorization including the Summary of Product Characteristics, package leaflet and labeling text. A member state may disagree with the assessment report on the basis that it feels the product creates a potentially serious risk to public health.

Forward Looking Statements

This press release contains “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, regarding, among other things, the regulatory status of, and Alimera’s plans for, ILUVIEN in the United States and the EU. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual results to differ materially from those projected in its forward-looking statements. Meaningful factors which could cause actual results to differ include failure to adequately address the FDA’s concerns that were raised in its October 2013 Complete Response Letter, as well as other factors discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Alimera’s Annual Report on Form 10-K for the year ended December 31, 2012 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2013, which are on file with the Securities and Exchange Commission (SEC) and available on the SEC’s website at www.sec.gov. In addition to the risks described above and in Alimera’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the SEC, other unknown or unpredictable factors also could affect Alimera’s results. There can be no assurance that the actual results or developments anticipated by Alimera will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Alimera. Therefore, no assurance can be given that the outcomes stated in such forward-looking statements and estimates will be achieved.

All forward-looking statements contained in this press release are expressly qualified by the cautionary statements contained or referred to herein. Alimera cautions investors not to rely too heavily on the forward-looking statements Alimera makes or that are made on its behalf. These forward-looking statements speak only as of the date of this press release (unless another date is indicated). Alimera undertakes no obligation, and specifically declines any obligation, to publicly update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

For press inquiries: For investor inquiries:
Katie Brazel, FleishmanHillard John Mills, ICR
for Alimera Sciences for Alimera Sciences
404-739-0150 310-954-1105
Katie.Brazel@fleishman.com John.Mills@ICRINC.com
Wednesday, December 18th, 2013 Uncategorized Comments Off on (ALIM) and FDA Enter Into Labeling Discussions for ILUVIEN®

(EONC) Enters Into Merger Agreement With Inventergy Inc.

CUPERTINO, CA–(Dec 18, 2013) – Inventergy Inc. and eOn Communications Corporation (NASDAQ: EONC) have announced today that they have entered into a merger agreement whereby Inventergy will merge into a wholly-owned subsidiary of eOn. Upon satisfaction of all of the conditions to completing the merger, eOn Communications will be renamed Inventergy Global, Inc. Upon completion of the merger, Inventergy stockholders will receive shares of eOn stock, such that the Inventergy stockholders in the aggregate will control eOn after the merger.

Inventergy is an intellectual property (IP) acquisition and licensing company dedicated to identifying, acquiring and licensing for fair value the patented technologies of market-significant technology leaders. Led by IP industry pioneer and veteran Joe Beyers, former head of IP and global strategy at Hewlett-Packard, the company leverages decades of experience, market and technology expertise, and industry connections to assist Fortune 500 companies leverage the value of their world-changing innovations to achieve greater returns. Inventergy aspires to enable a new world of IP value creation built upon a more transparent, above-board and ethical business platform. The Company currently owns a portfolio of over 160 patents from a Global Fortune 500 and Gartner-recognized technology leader in the telecommunications industry.

Headquartered in Cupertino, CA, Inventergy’s management team includes: Chairman and Chief Executive Officer Mr. Joe Beyers, SVP & General Counsel Mr. Wayne Sobon, and SVP of IP Acquisitions & Licensing, Mr. Jon Rortveit.

“The proposed merger transaction represents a significant milestone for Inventergy. It provides a public vehicle to leverage our holistic approach and flexible IP value-creation model,” stated Joe Beyers, Chairman and CEO of Inventergy. “We believe our becoming publicly listed will better position us to meet the needs of companies that have a significant portion of their value hidden within their IP.”

Mr. Beyers continued, “Inventergy aspires to enable a new world of IP value creation, built upon a more transparent, above-board and ethical business platform. Our strategic licensing model allows for a mutually beneficial relationship with our world renowned clients. With the merger now arranged, management intends shift its focus towards expanding our patent portfolio, securing licensing revenues, and enhancing shareholder value.”

Completion of the merger is subject to a number of conditions, including eOn stockholder approval. Additional information regarding the merger transaction and sale of preferred stock is set forth in eOn’s Current Report on Form 8-K dated December 18, 2013, which is being filed with the Securities and Exchange Commission.

About Inventergy Inc.
Inventergy Inc. is an intellectual property acquisition and licensing company dedicated to identifying, acquiring and licensing the patented technologies of market-significant technology leaders. Led by IP industry pioneer and veteran Joe Beyers, former head of IP and global strategy at Hewlett-Packard, the company leverages decades of experience, market and technology expertise, and industry connections to assist Fortune 500 companies in leveraging the value of their innovations to achieve greater returns. Inventergy aspires to enable a new world of IP value creation built upon a more transparent, above-board and ethical business platform. Inventergy’s current portfolio contains over 160 patent assets (including patents related to industry standards), from a Global Fortune 500 and Gartner-recognized technology leader in the telecommunications industry. For more information about Inventergy, visit the website at www.inventergy.com.

Forward-Looking Statements
This press release contains statements, estimates, forecasts and projections with respect to future performance and events, which constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent and belief or current expectations of the Company and its affiliates and subsidiaries and their respective management teams. These statements may be identified by the use of words like “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “plan”, “will”, “should”, “seek” and similar expressions and include any projections or estimates set forth herein. Investors and prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, that actual results may differ materially from those projected in the forward-looking statements.

Investors:
Chris Camarra
Director, Investor Relations
(212) 398-3487
Email Contact

Wednesday, December 18th, 2013 Uncategorized Comments Off on (EONC) Enters Into Merger Agreement With Inventergy Inc.

(OXYS) Expands to Hong Kong and Macau

FRISCO, TX–(December 18, 2013) – OxySure® Systems, Inc. (OTCQB: OXYS) (“OxySure,” or the “Company”), a medical device innovator of life-saving, easy-to-use emergency oxygen solutions with its “oxygen from powder” technology, today announced that Pacific Medical Systems, Ltd. has signed an agreement to be the Company’s exclusive distributor for OxySure’s products in Hong Kong and Macau.

“We are pleased to add Pacific Medical Systems to our growing list of global distribution partners,” stated Mr. Julian Ross, CEO of OxySure. “Pacific Medical Systems has been a trailblazer in the sale of AEDs in Hong Kong and we look forward to working with Jules Flach and his team to establish a strong presence in Hong Kong and Macau for OxySure. What is unique about Hong Kong in particular is that there is currently no mandatory medical device registration or approval process which means we can get down to business right away.”

Based in North Point, Hong Kong, Pacific Medical Systems focuses on the marketing, sales and after sales support of innovative medical products in the Asia Pacific region. Members of the Pacific team are highly skillful and experienced professionals with track records from multinational companies in the medical field.

The distribution agreement between the Company and Pacific is for an initial term of three years, renewable thereafter. The minimum sales order commitment required by the agreement comprises a total of 11,800 units of the OxySure Model 615 and OxySure Replacement Cartridges over the initial three year period.

About OxySure Systems, Inc.

OxySure Systems, Inc. (OXYS) is a medical technology company that focuses on the design, manufacture and distribution of specialty respiratory and medical solutions. The company pioneered a safe and easy to use solution to produce medically pure (USP) oxygen from inert powders. The company owns numerous issued patents and patents pending on this technology which makes the provision of emergency oxygen safer, more accessible and easier to use than traditional oxygen provision systems. OxySure’s products improve access to emergency oxygen that affects the survival, recovery and safety of individuals in several areas of need: (1) Public and private places and settings where medical emergencies can occur; (2) Individuals at risk for cardiac, respiratory or general medical distress needing immediate help prior to emergency medical care arrival; and (3) Those requiring immediate protection and escape from exposure situations or oxygen-deficient situations in industrial, mining, military, or other “Immediately Dangerous to Life or Health” (IDLH) environments. www.OxySure.com

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company’s expectations with regard to the future impact on the Company’s results from new products in development, may be deemed to be forward-looking statements. Words such as “expects”, “intends”, “plans”, “may”, “could”, “should”, “anticipates”, “likely”, “believes” and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. Except as may be required under applicable law, we assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Additional information on risks and other factors that may affect the business and financial results of OxySure Systems, Inc. can be found in the filings of OxySure Systems, Inc. with the U.S. Securities and Exchange Commission.

Investor Contact:
Christian Hansen
Maximum Performance Advisors, Inc.
858-381-4677
christian@maximumperformanceadvisors.com

Wednesday, December 18th, 2013 Uncategorized Comments Off on (OXYS) Expands to Hong Kong and Macau

(FTR) to Acquire AT&T’s Wireline Residential and Business Services, Connecticut

Frontier Communications Corporation (NASDAQ:FTR) announced today that it has entered into a definitive agreement with AT&T, Inc. (NYSE:T) to acquire AT&T’s wireline business and statewide fiber network that provides services to residential, commercial and wholesale customers in Connecticut. As part of the transaction, Frontier will also acquire AT&T’s U-verse video and satellite TV customers in Connecticut. Frontier will pay AT&T $2 billion in cash for the business and related assets. Frontier’s extensive experience operating local and national communications networks and providing communications services to residential and commercial customers throughout the country will contribute to the success of this transaction.

Frontier’s shareholders, customers, local communities and employees will benefit substantially as a result of this transaction:

  • The transaction is estimated to be accretive to Frontier’s adjusted free cash flow per share in the first year.
  • The transaction is estimated to improve Frontier’s dividend payout ratio by more than 5 percentage points in the first year.
  • The all-cash transaction means Frontier shareholders will receive the benefit of increased diversification of assets and operations without any dilution in ownership.
  • Frontier will have greater scale to leverage its network, information technology, engineering, administrative services and procurement capabilities to realize cost synergies and savings of $200 million annually once integration is complete.
  • Frontier will implement its proven local engagement community-oriented go-to-market strategy in Connecticut led by local General Managers and a State Leader.
  • Connecticut customers will have the same products and services that they currently enjoy, including the U-verse suite of products.

Maggie Wilderotter, Frontier’s Chairman and Chief Executive Officer said, “We are excited to be acquiring AT&T’s wireline operating company in Connecticut, where our company has been headquartered since 1946. This is a great opportunity to bring to Connecticut Frontier’s portfolio of products and services, such as Frontier Secure, our industry leading digital security offering that gives customers top-rated online computer protection and premium technical support. It also allows us to introduce our local engagement management model to Connecticut in which Frontier employees provide high-quality service to their friends and neighbors and become actively involved in their communities.” Wilderotter added, “We see an opportunity to enhance broadband capabilities in Connecticut. This transaction demonstrates our continued commitment to enhancing shareholder value by improving the sustainability of our dividend, increasing our free cash flow and building on our core product and service strengths.”

Randall Stephenson, AT&T’s Chairman and Chief Executive Officer said, “We are very pleased to have Frontier Communications as the buyer of our Connecticut wireline properties. Frontier has proven both its ability to execute sizeable transactions and a commitment to the communications needs of urban, suburban and rural markets. Frontier has a strong track record of providing high quality service, and we look forward to them doing so in Connecticut after we close this transaction.”

Dan McCarthy, Frontier’s President and Chief Operating Officer, commented, “We welcome Connecticut to the Frontier family and look forward to bringing our high-touch local engagement management model to our home state. We have deep experience in acquiring and migrating large-scale operations onto our networks and systems, adapting them to our sales model, and extending our brand into new communities. AT&T’s Connecticut business is substantial, well-defined and covers nearly the entire state. Based upon our track record, we are extremely confident that we will leverage this opportunity to deliver an excellent customer experience and shareholder value.”

Additional Details on the Transaction

The transaction is subject to review and approval by the U.S. Department of Justice, the Federal Communications Commission, the Connecticut Public Utilities Regulatory Authority and other state regulatory authorities. Frontier expects the transaction to close in the second half of 2014. Following the close of this transaction, Frontier will operate in 28 states. Connecticut’s urban, suburban and rural markets will complement Frontier’s diverse mix of markets. Frontier will welcome approximately 2,700 employees to our company; the majority are represented by the Communications Workers of America. Frontier already has more than 200 employees at our headquarters based in Stamford, Connecticut. A full conversion of AT&T’s Connecticut operations onto Frontier’s existing systems and networks is planned at the time of close. Frontier has successfully completed numerous complex system and network migrations. Our most recent conversion covered operations across 14 states and was completed approximately one year ahead of schedule.

Frontier will acquire approximately 415,000 data, 900,000 voice, and 180,000 video residential connections of AT&T in Connecticut, as well as AT&T’s local business connections and existing carrier wholesale relationships.

Frontier will pay $2 billion in cash for AT&T Connecticut. The business will be transferred on a debt-free basis. J.P. Morgan has committed the financing required to complete the transaction.

Advisors

J.P. Morgan acted as the financial advisor to Frontier. Lazard acted as the financial advisor to the independent members of the Board of Directors of Frontier. Skadden, Arps, Slate, Meagher & Flom LLP and Kilpatrick Townsend & Stockton acted as legal advisors to Frontier.

Conference Call Information

Frontier will host a conference call with financial analysts and investors at 9:00 a.m. Eastern Time today to discuss the announcement and answer questions. Financial analysts and investors are invited to participate by dialing 888-203-7337 (Conference ID: 6353322), or 719-457-2600 (access code 6353322). Media and other interested individuals are invited to listen to the live broadcast on Frontier’s Investor Relations website at www.Frontier.com/IR. An investor presentation will be posted on Frontier’s Investor Relations website at www.Frontier.com/IR.

About Frontier Communications

Frontier Communications Corporation (NASDAQ: FTR) offers broadband, voice, satellite video, wireless Internet data access, data security solutions, bundled offerings, specialized bundles for residential customers, small businesses and home offices and advanced communications for medium and large businesses in 27 states. Frontier’s approximately 13,900 employees are based entirely in the United States. More information is available at www.frontier.com.

Forward-Looking Statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management’s views and assumptions regarding future events and business performance. Words such as “believe,” “anticipate,” “expect” and similar expressions are intended to identify forward-looking statements. Forward-looking statements (including oral representations) involve risks and uncertainties that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. These risks and uncertainties include, but are not limited to: our ability to complete the acquisition of the Connecticut operations from AT&T the failure to obtain, delays in obtaining or adverse conditions contained in any required regulatory approvals for the AT&T transaction; the ability to successfully integrate the AT&T operations into Frontier’s existing operations; the effects of increased expenses due to activities related to the AT&T transaction; the ability to migrate AT&T’s Connecticut operations from AT&T owned and operated systems and processes to Frontier owned and operated systems and processes successfully; the risk that the growth opportunities and cost savings from the AT&T transaction may not be fully realized or may take longer to realize than expected; the sufficiency of the assets to be acquired from AT&T to enable us to operate the acquired business; disruption from the AT&T transaction making it more difficult to maintain relationships with existing customers or suppliers; the effects of greater than anticipated competition from cable, wireless and other wireline carriers that could require us to implement new pricing, marketing strategies or new product or service offerings and the risk that we will not respond on a timely or profitable basis; reductions in the number of our voice customers that we cannot offset with increases in broadband subscribers and sales of other products and services; our ability to maintain relationships with customers, employees or suppliers; the effects of ongoing changes in the regulation of the communications industry as a result of federal and state legislation and regulation, or changes in the enforcement or interpretation of such legislation and regulation; the effects of any unfavorable outcome with respect to any current or future legal, governmental or regulatory proceedings, audits or disputes; the effects of changes in the availability of federal and state universal service funding or other subsidies to us and our competitors; our ability to adjust successfully to changes in the communications industry and to implement strategies for growth; continued reductions in switched access revenues as a result of regulation, competition or technology substitutions; our ability to effectively manage service quality in our territories and meet mandated service quality metrics; our ability to successfully introduce new product offerings, including our ability to offer bundled service packages on terms that are both profitable to us and attractive to customers; the effects of changes in accounting policies or practices adopted voluntarily or as required by generally accepted accounting principles or regulations; our ability to effectively manage our operations, operating expenses and capital expenditures, and to repay, reduce or refinance our debt; the effects of changes in both general and local economic conditions on the markets that we serve, which can affect demand for our products and services, customer purchasing decisions, collectability of revenues and required levels of capital expenditures related to new construction of residences and businesses; the effects of technological changes and competition on our capital expenditures, products and service offerings, including the lack of assurance that our network improvements in speed and capacity will be sufficient to meet or exceed the capabilities and quality of competing networks; the effects of increased medical (including as a result of the impact of the Patient Protection and Affordable Care Act), pension and postemployment expenses, such as retiree medical and severance costs, and related funding requirements; the effects of changes in income tax rates, tax laws, regulations or rulings, or federal or state tax assessments; our ability to successfully renegotiate union contracts; changes in pension plan assumptions and/or the value of our pension plan assets, which could require us to make increased contributions to the pension plan in 2014 and beyond; the effects of economic downturns, including customer bankruptcies and home foreclosures, which could result in difficulty in collection of revenues and loss of customers; adverse changes in the credit markets or in the ratings given to our debt securities by nationally accredited ratings organizations, which could limit or restrict the availability, or increase the cost, of financing; our cash flow from operations, amount of capital expenditures, debt service requirements, cash paid for income taxes and liquidity may affect our payment of dividends on our common shares; the effects of state regulatory cash management practices that could limit our ability to transfer cash among our subsidiaries or dividend funds up to the parent company; and the effects of severe weather events such as hurricanes, tornadoes, ice storms or other natural or man-made disasters. These and other uncertainties related to our business are described in greater detail in our filings with the U.S. Securities and Exchange Commission, including our reports on Forms 10-K and 10-Q, and the foregoing information should be read in conjunction with these filings. We do not intend to update or revise these forward-looking statements to reflect the occurrence of future events or circumstances.

Tuesday, December 17th, 2013 Uncategorized Comments Off on (FTR) to Acquire AT&T’s Wireline Residential and Business Services, Connecticut

(ADEP) Preferred Primary/Secondary Food Pkg. Partnership with Harpak-ULMA

PLEASANTON, Calif., Dec. 17, 2013  — Adept Technology, Inc. (Nasdaq:ADEP), a leading provider of intelligent robots, autonomous mobile solutions and services, today announced a partnership agreement with Harpak-ULMA Packaging, LLC, an innovative packaging equipment and systems integrator, naming Harpak-ULMA a primary and secondary food packaging partner.

Selected for their advanced technical capabilities and knowledge base, Adept’s preferred food packaging partners define, configure, and deliver fully integrated solutions using Adept robots, software, and grippers to increase speed and efficiency on food processing lines.

“Automated primary food packaging necessitates use of equipment that meets stringent requirements in every aspect, from gentle material handling at high speeds to compliance with strict sanitation requirements,” said Charles Harlfinger, Harpak-ULMA CEO. “We recognize Adept’s strength in providing inventive, dependable automation products that meet these demands. We believe Adept’s capabilities fit well with our goal of delivering to our customers the most effective, fully integrated food packaging solutions available.”

“Adept welcomes Harpak-ULMA as a new primary and secondary food packaging partner,” said Merrill Apter, Adept vice president of North America sales. “From our ‘SoftPIC’ silicone food grippers to our USDA-accepted parallel robot system, Adept provides a set of food-focused tools that are ideal for challenging, high-throughput applications and adaptable to flexible production requirements. We thank Harpak-ULMA for their support in the USDA qualification of the ‘Quattro’ robot. We look forward to working with them now as a preferred partner to enable state-of-the-art automated packaging systems that enhance food processors’ efficiency and yields.”

Adept has developed a host of hardware and software products for use in a food packaging environment. The company’s “Quattro s650HS” is the only high-speed parallel robot to receive USDA acceptance for meat and poultry processing. This Quattro robot is IP qualified (IP-66 protection for the robot, IP-67 protection for the platform). Additionally, Adept’s “SoftPIC” grippers and graspers enable fast, gentle handling of non-rigid, wet, and irregularly shaped food products—tasks that were previously possible only with manual handling.

About Harpak-ULMA Packaging, LLC

Harpak-ULMA Packaging is a leader in completely automated packaging solutions to the food, medical device, personal care and industrial industries. For over 20 years Harpak-ULMA has worked closely with their customers to engineer superior, intelligent primary and secondary solutions. The company is committed to assist the customer in becoming more competitive by becoming more efficient. Their successful installed base speaks for itself. Harpak-ULMA is equipped to handle the most complicated automation requirements in the field today and their access to global solutions makes Harpak-ULMA a forerunner in packaging technologies today. Harpak-ULMA specializes in fully automated packaging lines, tray sealing, flow wrap, skin packaging, thermoforming, facilities packaging automation, cartoning, case packing, and so much more. Their depth of experience in creating and developing complete systems is far beyond any others in the industry. For more information about Harpak-ULMA, visit http://www.harpak-ulma.com/.

About Adept Technology, Inc.

Adept is a global, leading provider of intelligent robots, autonomous mobile solutions and services that enable customers to achieve precision, speed, quality and productivity in their assembly, handling, packaging, testing, and logistical processes. With a comprehensive portfolio of high-performance motion controllers, application development software, vision-guidance technology and high-reliability robot mechanisms with autonomous capabilities, Adept provides specialized, cost-effective robotics systems and services to high-growth markets including medical, electronics, food and semiconductor; as well as to traditional industrial markets including machine tool automation and automotive components. More information is available at www.adept.com.

All trade names are either trademarks or registered trademarks of their respective holders.

CONTACT: Media Contact:
         Terry Hannon
         Adept Technology, Inc.
         925-245-3428
         terry.hannon@adept.com

         -or-

         Tracy Getz
         Getz PR, LLC
         541-928-8996
         tracy@getzpr.com

         Financial Analysts Contact:
         Seth Halio
         Adept Technology, Inc.
         925-245-3502
         seth.halio@adept.com
Tuesday, December 17th, 2013 Uncategorized Comments Off on (ADEP) Preferred Primary/Secondary Food Pkg. Partnership with Harpak-ULMA

(LPTH) Opens Second High Volume Manufacturing Facility in China

Growth in Demand for Lenses Leads to Expansion in China and Formation of LightPath Optical Instrumentation (Zhenjiang) Co. Ltd.

ORLANDO, Fla., Dec. 17, 2013  — LightPath Technologies, Inc. (“LightPath,” the “Company” or “we”) (NASDAQ: LPTH), a global manufacturer, distributor and integrator of proprietary optical components and high-level assemblies, announced today the formation of a new wholly-owned subsidiary, LightPath Optical Instrumentation (Zhenjiang) Co., Ltd. (“LOIZ”), located in Zhenjiang, which is in the Jiangsu province of China.  LOIZ is LightPath’s second operating entity in China.  The Company currently occupies a 22,000 square foot facility in Orlando, Florida.  LightPath Optical Instrumentation (Shanghai) Co., Ltd. occupies a 17,000 square foot facility in Shanghai, China.  LOIZ will occupy a 26,000 square foot facility in Zhenjiang, China.  LOIZ’s facility will triple the Company’s combined global lens production capacity.

(Logo: http://photos.prnewswire.com/prnh/20130122/FL45558LOGO)

Commenting on the Company’s expansion, LightPath Chief Executive Officer Jim Gaynor said, “Demand for our aspheric lenses has accelerated in both our North American and Asian sales regions. The Company’s lens unit volume production increased by approximately 50% in fiscal 2013 as compared to fiscal 2012. Our backlog as of September 30, 2013 had grown to $4.42 million.  A primary catalyst driving this increased demand is the Company’s proprietary technology and manufacturing processes which have lowered the cost of lenses we provide to our customers.  As a result, there has been a paradigm shift in demand creation among end users in markets such as laser tools, telecommunications, digital projectors, industrial equipment and medical instruments.”

Mr. Gaynor continued, “We recently completed very favorable negotiations with the Economic Development Committee of Zhenjiang Science & Technology New City to form our new wholly-owned subsidiary, LOIZ, and open its manufacturing facility in Zhenjiang.  We would like to thank the officials in the city of Zhenjiang and other Chinese agencies which led to the selection of this city for the location of LOIZ’s manufacturing facility and our expansion into a second Chinese city.  LOIZ’s new location provides us access to excellent infrastructure, high speed rail service, a well-educated technical work force, and proximity to the highly acclaimed Optical College at the University of Zhenjiang.”

Mr. Gaynor concluded, “The low rental rates and wages in Zhenjiang will give us a solid platform to continue growing our high-volume business for precision molded optics. Work is underway to build out the factory and production is planned to start during the first half of 2014.  We estimate our manufacturing costs could be up to 40% lower at this new facility once we are at full production levels.  The new plant will be focused on manufacturing, with administrative functions, engineering and sales supported from our operations in Shanghai and Orlando.”

About LightPath Technologies

LightPath (NASDAQ: LPTH) manufactures optical products including precision molded aspheric optics, GRADIUM® glass products, proprietary collimator assemblies, laser components utilizing proprietary automation technology, higher-level assemblies and packing solutions. The Company’s products are used in various markets, including industrial, medical, defense, test & measurement and telecommunications. LightPath has a strong patent portfolio that has been granted or licensed to us in these fields.  For more information, visit www.lightpath.com. GRADIUM® is a registered trademark of LightPath Technologies.

This news release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our ability to expand our presence in certain markets, future sales growth, continuing reductions in cash usage and implementation of new distribution channels. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:       
Jordan Darrow Dorothy Cipolla
Darrow Associates, Inc. Chief Financial Officer
jdarrow@darrowir.com dcipolla@lightpath.com
631-367-1866 407-382-4003×305
Tuesday, December 17th, 2013 Uncategorized Comments Off on (LPTH) Opens Second High Volume Manufacturing Facility in China

(MEIL) Provides Production Update, Record Numbers

LAS VEGAS, NV–(Dec 17, 2013) – Methes Energies International Ltd. (NASDAQ: MEIL), a renewable energy company that offers an array of products and services to biodiesel fuel producers, today provides a production update for its fourth quarter ended November 30, 2013.

The Company proudly announces that its October and November production targets for the current calendar year were achieved. In fact, production in November was the highest production month in gallons in the Company’s history, surpassing September and October by more than 60,000 gallons for each month. Production of biodiesel at its Sombra, Ontario facility for the months of September, October and November 2013 was higher than the total amount of biodiesel produced in all of its fiscal year 2012. As expected, our 2013 fiscal fourth quarter saw the highest quantity of gallons produced in any previous quarter in the Company’s history. As a result of this tremendous production growth, Methes anticipates that it will record higher fourth-quarter revenues than any previous quarter in the Company’s history.

Methes President Nicholas Ng said, “We are pleased with our fourth-quarter production numbers and are working on doing even better in 2014. We are also busy with several projects that are already drawing considerable interest and which we expect will make a big difference next year, including the possible consummation of the OTC technology acquisition for which we have entered into a letter of intent.”

The Company is currently finalizing its numbers, which will be audited over the next several weeks in preparation to file its Annual Report on form 10-K for its fiscal year ended November 30, 2013.

About Methes Energies International Ltd.
Methes Energies International Ltd. is a renewable energy company that offers a variety of products and services to biodiesel fuel producers. Methes also offers biodiesel processors that are unique, truly compact, fully automated state-of-the-art and continuous flow that can run on a wide variety of feedstocks. Methes markets and sells biodiesel fuel produced at its showcase production facility in Mississauga, Ontario, Canada and at its 13 MGY facility in Sombra, Ontario, to customers in the U.S. and Canada, as well as providing multiple biodiesel fuel solutions to its clientele. Among its services are selling commodities to its network of biodiesel producers, selling their biodiesel production and providing clients with proprietary software to operate and control their processors. Methes also remotely monitors the quality and characteristics of its clients’ production, upgrades and repairs their processors and advises clients on adjusting their processes to use varying feedstock to improve the quality of their biodiesel. For more information, please visit www.methes.com.

This press release contains forward-looking statements regarding future events and financial performance. In some cases, you can identify these statements by words such as “may,” “might,” “will,” “should,” “except,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” the negative of these terms and other comparable terminology. These statements involve a number of risks and uncertainties and are based on numerous assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. There are or may be important factors that could cause our actual results to materially differ from our historical results or from any future results expressed or implied by such forward looking statements. These factors include, but are not limited to, those discussed under the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended November 30, 2012, filed on February 25, 2013, as amended, which is available at the U.S. Securities and Exchange Commission website at www.sec.gov. The forward-looking statements in this press release are based upon management’s reasonable belief as of the date hereof. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

Contacts:
Methes Energies International Ltd.
Michel G. Laporte
Chairman and CEO
702-932-9964

Tuesday, December 17th, 2013 Uncategorized Comments Off on (MEIL) Provides Production Update, Record Numbers

(JMSN) Opens Office Doors for Informal Stockholder Meeting in Las Vegas

Informal Shareholder Meeting, Conference Call to Highlight Operational Opportunities

LAS VEGAS, NV–(Dec 17, 2013) – Jameson Stanford Resources Corporation (OTCQB: JMSN), a company engaged in the exploration and development of mining claims and mineral leases in southwest Utah, cordially invites all Company stockholders to attend an informal meeting Thursday, December 19, 2013, at the Company’s corporate office in Las Vegas.

Management encourages stockholders to join the Company at 1:00 p.m. PT for business discussion, as well as complimentary sandwiches and refreshments.

Jameson Corporate Office:
2300 West Sahara Avenue, Suite 800
Las Vegas‎, NV‎ 89102

The company will also hold a short conference call at 1:30 p.m. PT to review its ongoing business and potential opportunities. Interested parties can access the conference line by using the following information:

Dial-in: (712) 775-7100
Code: 465855#

“It is an honor to host our stockholders at the Jameson Stanford corporate office,” said Jameson Stanford Executive Vice President, Michael Christiansen. “We plan to use this opportunity to meet with interested stockholders face-to-face to discuss current business developments and the new opportunities we have before us. For those unable to attend, we encourage you to join us on a brief conference call.”

About Jameson Stanford Resources Corp.

Jameson Stanford Resources is focused on developing significant mining claims, mineral leases and excavation rights for projects located in historic mining districts and other sites in central and southwestern Utah. The Company is presently engaged in exploration and development activities in connection with two high-grade copper, gold, silver and base metals properties located in historic mining districts in Beaver County and Juab County, Utah. In addition, Jameson Stanford Resources has acquired excavation rights and special permitting related to deposits of alluvial minerals and silica sand located in Weber County, Utah.

Company: www.JamesonStanford.com
Facebook: https://www.facebook.com/JamesonStanfordJMSN
Twitter: https://twitter.com/JamesonJMSN

Safe Harbor Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements as a result of various factors and other risks, including those set forth in the Company’s Form 10-K filed with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and the Company undertakes no obligation to update such statements.

Contact:

Jameson Stanford Resources Corporation
Las Vegas, NV
www.JamesonStanford.com
(702) 933-0808
IR@JamesonStanford.com

DreamTeamGroup
Indianapolis, IN
www.DreamTeamGroup.com
(317) 623-3050
Editor@DTG.fm

Tuesday, December 17th, 2013 Uncategorized Comments Off on (JMSN) Opens Office Doors for Informal Stockholder Meeting in Las Vegas

(RVLT) U.S. Navy Awards Revolution Lighting Technologies LED Lighting Contract

Revolution Lighting Technologies, Inc. (NASDAQ:RVLT) (“Revolution Lighting”), a leader in advanced LED lighting technology, today announced that its Seesmart brand has been selected by the U.S. Navy’s Military Sealift Command to supply Lewis and Clark class T-AKE dry cargo/ammunition ships with 17,000 Seesmart two and four foot LED tube lamps. QuaLED Lighting, a woman-owned small business based in Scottsdale, Arizona, is the Revolution Lighting distributor on the project.

Military Sealift Command is the leading provider of ocean transportation for the Navy and the rest of the Department of Defense, operating approximately 110 ships daily around the globe.

“We are honored to support the U.S. Navy on this project to implement our high-quality LED tube lamps and drive significant long term savings,” said Robert V. LaPenta, Chairman and Chief Executive Officer of Revolution Lighting Technologies. “This project is one more example in a growing list of large-scale installations across a variety of public and private organizations and institutions. We look forward to additional projects with the Navy, as well as other military branches and government entities.”

Seesmart’s DLC-listed LED tube lamps are manufactured in Simi Valley, California and designed to be a direct replacement for fluorescent tube lights, offering maximum light output and energy savings. In line with the U.S. Navy’s requirements, Seesmart’s LED tube lamps are light weight and extremely durable, require virtually no maintenance, and have a long life expectancy.

About Revolution Lighting Technologies Inc.

Revolution Lighting Technologies, Inc. is a leader in the design, manufacture, marketing, and sale of light emitting diode (LED) lighting solutions focusing on the industrial, commercial and government markets in the United States, Canada, and internationally. Through advanced technology and aggressive new product development, Revolution Lighting has created an innovative, multi-brand, lighting company that offers a comprehensive advanced product platform. The company goes to market through its Seesmart brand, which designs, engineers and manufactures an extensive line of high-quality interior and exterior LED lamps and fixtures; Lighting Integration Technologies Inc., which sells and installs Seesmart products; Lumificient, which supplies LED illumination for the signage industry; Relume Technologies, a leading manufacturer of outdoor LED products; and Sentinel, a revolutionary patented and licensed monitoring and smart grid control system for outdoor lighting applications. Revolution Lighting Technologies markets and distributes its product through a network of independent sales representatives and distributors, as well as through energy savings companies and national accounts. Revolution Lighting Technologies trades on the NASDAQ under the ticker RVLT. For additional information, please visit: www.rvlti.com.

Monday, December 16th, 2013 Uncategorized Comments Off on (RVLT) U.S. Navy Awards Revolution Lighting Technologies LED Lighting Contract

(ACRX) and Grunenthal Announce Collaboration for EU Commercialization of ZALVISO™

– FDA establishes the PDUFA action date of July 27, 2014 for Zalviso – – Conference Call Scheduled Monday, December 16th 2013 for 8:30 a.m. Eastern Time –

REDWOOD CITY, Calif. and AACHEN, Germany, Dec. 16, 2013  — AcelRx Pharmaceuticals, Inc. (Nasdaq: ACRX) and Grunenthal GmbH announced today that they have entered into a commercial collaboration, covering the territory of the European Union, certain other European countries and Australia for ZALVISO™ (previously known as ARX-01) for potential use in pain treatment within or dispensed by a hospital, hospice, nursing home or other medically supervised setting.  ZALVISO, a drug-device combination product utilizing the opioid agonist sufentanil formulated in a proprietary sublingual tablet formulation and delivered through a pre-programmed, non-invasive proprietary delivery device is AcelRx’s lead program.  AcelRx retains all rights in remaining countries, including the U.S. and Asia.

Under the terms of the agreement, AcelRx will receive an upfront cash payment of $30 million.  AcelRx is eligible to receive approximately $220 million in additional milestone payments, based upon successful regulatory and product development efforts and net sales target achievements.  Grunenthal will also make tiered royalty, supply and trademark fee payments in the mid-teens up to the mid-twenties percent range, on net sales of ZALVISO in the Grunenthal territory.

“As an established leader in providing pain management solutions to patients throughout Europe, Grunenthal is an excellent partner for AcelRx and for ZALVISO,” said Richard King, President and CEO.  “Grunenthal’s commercial track record across Europe demonstrates their ability to achieve commercial success in this large market, and will, following regulatory approval, enable patients in Europe suffering with moderate-to-severe pain in a medically supervised setting to receive the benefits of our innovative, patient-centric product ZALVISO.”

“We are extremely pleased to enter into this collaboration with AcelRx and its proven concept of a patient-controlled analgesia system to address a significant unmet medical need, thereby allowing hospitals to avoid the challenges of intravenous line-related infections, as well as freeing hospital personnel from the need to program intravenous infusion pump systems.  With ZALVISO Grunenthal is building on its presence in the hospital market, an area that provides us with significant growth opportunities in the mid- and long-term,” said Prof. Eric-Paul Paques, Grunenthal’s Chief Executive Officer.

Grunenthal will be responsible for all commercial activities for ZALVISO, including obtaining and maintaining pharmaceutical product regulatory approval in the Grunenthal territory.  AcelRx will be responsible for maintaining device regulatory approval in the Grunenthal territory and manufacturing and supply of ZALVISO to Grunenthal for commercial sales and clinical trials.

ZALVISO PDUFA Date

In addition, AcelRx announced today that the U.S. Food and Drug Administration (FDA) has established a Prescription Drug User Fee Act (PDUFA) action date of July 27, 2014, for AcelRx’s New Drug Application (NDA) for Zalviso.  AcelRx announced on December 2, 2013 that FDA accepted for filing the Zalviso NDA.

Conference Call at 8:30 a.m. Eastern time on Monday, December 16, 2013

AcelRx will conduct a conference call and webcast today, December 16, 2013 at 8:30 a.m. Eastern time (5:30 a.m. Pacific time) to discuss the Grunenthal partnership. To listen to the conference call, dial in approximately ten minutes before the scheduled call to (877) 870-4263 for domestic callers, (855) 669-9657 for Canadian callers, or (412) 317-0790 for international callers.  Those interested in listening to the conference call live via the Internet may do so by visiting the Investors section of the company’s website at www.acelrx.com and selecting the webcast link for Grunenthal collaboration conference call. A webcast replay will be available on the AcelRx website for 90 days following the call by visiting the Investors section of the company’s website at www.acelrx.com

About ZALVISO

ZALVISO is an investigational pre-programmed, non-invasive, handheld system that allows hospital patients with moderate-to-severe acute pain to self-dose with sublingual sufentanil microtablets to manage their pain.  ZALVISO is designed to address the limitations of IV PCA by offering:

  • A high therapeutic index opioid – ZALVISO uses the high therapeutic index, highly lipophilic opioid sufentanil, enabling delivery via a non-intravenous route, and also supporting fast onset of effect.
  • A non-invasive route of delivery – The sublingual route of delivery used by ZALVISO eliminates the risk of IV-related analgesic gaps and IV complications, such as catheter-related infections in IV PCA treated patients.  In addition, because ZALVISO patients do not require direct connection to an IV PCA infusion pump through IV tubing, ZALVISO allows for ease of patient mobility.
  • A simple, pre-programmed PCA solution – ZALVISO is a pre-programmed PCA system designed to eliminate the risk of programming errors.

About AcelRx Pharmaceuticals, Inc.

AcelRx Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of acute and breakthrough pain.  AcelRx’s lead product candidate, ZALVISO, is designed to solve the problems associated with post-operative intravenous patient-controlled analgesia which has been shown to cause harm to patients following surgery because of the side effects of morphine, the invasive IV route of delivery and the complexity of infusion pumps.  AcelRx has announced positive results from each of the three Phase 3 clinical trials for ZALVISO and has submitted an NDA to the FDA seeking its approval.  AcelRx has also announced positive top-line results for a Phase 2 trial for ARX-04, a sufentanil formulation for the treatment of moderate-to-severe acute pain, funded through a grant from the U.S. Army Medical Research and Materiel Command.  The company has two additional pain treatment product candidates, ARX-02 and ARX-03, which have completed Phase 2 clinical development.  For additional information about AcelRx’s clinical programs, please visit www.acelrx.com.

About Grunenthal

The Grunenthal Group is an independent, family-owned, international research-based pharmaceutical company headquartered in Aachen, Germany.  Building on its unique position in pain treatment, its objective is to become the most patient-centric company and thus to be a leader in therapy innovation.  Grunenthal is one of the last five remaining research-oriented pharmaceutical companies with headquarters in Germany which sustainably invests in research and development.  Research and development costs amounted to about 26 percent of revenues in 2012.  Grunenthal’s research and development strategy concentrates on selected fields of therapy and state-of-the-art technologies.  We are intensely focused on discovering new ways to treat pain better and more effectively, with fewer side-effects than current therapies.  Altogether, the Grunenthal Group has affiliates in 26 countries worldwide.  Grunenthal products are sold in more than 155 countries.  Today, approx. 4,400 employees are working for the Grunenthal Group worldwide.  In 2012, Grunenthal achieved revenues of USD 1,251 mn.
More information: www.grunenthal.com.

Forward Looking Statements

This press release contains forward-looking statements, including, but not limited to, statements related to potential approval of the NDA for Zalviso in the U.S. and the timing thereof, the potential of approval of the MAA for Zalviso in the EU and the timing thereof, the ability to successfully manufacture Zalviso to meet the requirements of Grunenthal and the therapeutic and commercial potential of Zalviso in the Grunenthal territory.  These forward-looking statements are based on AcelRx’s current expectations and inherently involve significant risks and uncertainties.  AcelRx’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to: AcelRx’s ability to receive regulatory approval for Zalviso;  any delays or inability to obtain and maintain regulatory approval of AcelRx’s product candidates, including Zalviso, in the United States, Europe, Australia and other countries; the ability to attract additional funding partners or collaborators with development, regulatory and commercialization expertise; the ability to obtain sufficient financing to commercialize Zalviso; the market potential for AcelRx’s other product candidates; the accuracy of AcelRx’s estimates regarding expenses, capital requirements and needs for financing; and other risks detailed in the “Risk Factors” and elsewhere in AcelRx’s U.S. Securities and Exchange Commission filings and reports, including its Quarterly Report on Form 10-Q filed with the SEC on November 5, 2013. AcelRx undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations

Monday, December 16th, 2013 Uncategorized Comments Off on (ACRX) and Grunenthal Announce Collaboration for EU Commercialization of ZALVISO™

(LSI) Avago Technologies to Acquire LSI for $6.6 Billion in Cash

Silver Lake Partners to Support Transaction With $1 Billion Investment in Avago

  • Positions Avago as a leader in enterprise storage
  • Expands market position and brings valuable system-level expertise in wired infrastructure
  • Diversifies revenue and scales up Avago across multiple attractive end markets
  • Significantly and immediately accretive to Avago free cash flow and EPS on a non-GAAP basis
  • $200 million of annual operating synergies expected by the end of fiscal year 2015

SAN JOSE, Calif. and SINGAPORE, Dec. 16, 2013  — Avago Technologies Limited (Nasdaq:AVGO) and LSI Corporation (Nasdaq:LSI) today announced that they have entered into a definitive agreement under which Avago will acquire LSI for $11.15 per share in an all-cash transaction valued at $6.6 billion. The acquisition creates a highly diversified semiconductor market leader with approximately $5 billion in annual revenues by adding enterprise storage to Avago’s existing wired infrastructure, wireless and industrial businesses. The combined company will be strongly positioned to capitalize on the growing opportunities created by the rapid increases in data center IP and mobile data traffic.

“This highly complementary and compelling acquisition positions Avago as a leader in the enterprise storage market and expands our offerings and capabilities in wired infrastructure, particularly system-level expertise,” stated Hock Tan, President and Chief Executive Officer of Avago. “This combination will increase the Company’s scale and diversify our revenue and customer base. In addition to these powerful strategic benefits, as we integrate LSI onto the Avago platform, we expect to drive LSI’s operating margins toward Avago’s current levels, creating significant additional value for stockholders.”

“This transaction provides immediate value to our stockholders, and offers new growth opportunities for our employees to develop a wider range of leading-edge solutions for customers,” said Abhi Talwalkar, President and Chief Executive Officer of LSI.  “Our leadership positions in enterprise storage and networking, in combination with Avago, create greater scale to further drive innovations into the datacenter.”

The transaction is expected to be significantly and immediately accretive to Avago’s non-GAAP free cash flow and earnings per share. Avago currently anticipates achieving annual cost savings at a run rate of $200 million by the end of the fiscal year ending November 1, 2015, the first full fiscal year after closing.

Under the terms of the agreement, LSI’s stockholders will receive $11.15 in cash for each share of LSI common stock they hold at closing, which is expected to occur during the first half of calendar 2014. Avago intends to fund the transaction with $1.0 billion of cash from the combined balance sheet and fully-committed financing from the following sources:

  • A $4.6 billion term loan from a group of banks; and
  • A $1 billion investment from Silver Lake Partners, which is expected to be in the form of a seven year 2% convertible note with a conversion price of $48.04 per share or preferred stock with equivalent economic terms.

The transaction has been approved by the boards of directors of both companies and is subject to regulatory approvals in various jurisdictions and customary closing conditions, as well as the approval of LSI’s stockholders.

Conference Call

Avago Technologies will host a conference call, solely to discuss details of the transaction.  A live webcast and the accompanying presentation relating to the transaction will be available in the “Investors” section of Avago’s website at www.avagotech.com in advance of the conference call.  The presentation will also be available as an attachment to a Form 8-K being furnished to the Securities and Exchange Commission and available on its Edgar system.

Conference call date: December 16, 2013
Time: 5:30 am Pacific (8:30 am Eastern)
U.S. Dial in: (800) 237-9752
International Dial in: +1 (617) 847-8706
Passcode: 24822935

A replay of the call will be available for one week by dialing (888) 286-8010 (US) or +1 (617) 801-6888 (International) and entering passcode 65287393. A webcast of the conference call will also be available in the “Investors” section of Avago’s website at www.avagotech.com.

Non-GAAP Financial Measures

In addition to GAAP reporting, Avago provides investors with net income, income from operations, gross margin, operating expenses and other data, on a non-GAAP basis. This non-GAAP information excludes amortization of acquisition-related intangibles, share-based compensation expense, restructuring charges, acquisition-related costs, debt extinguishment losses and the income tax effects of these excluded items. Management does not believe that the excluded items are reflective of the Company’s underlying performance. The exclusion of these and other similar items from Avago’s non-GAAP presentation should not be interpreted as implying that these items are non-recurring, infrequent or unusual. Avago believes this non-GAAP financial information provides additional insight into the Company’s on-going performance and has therefore chosen to provide this information to investors for a more consistent basis of comparison and to help them evaluate the results of the Company’s on-going operations and enable more meaningful period to period comparisons. These non-GAAP measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.

About Avago Technologies Limited

Avago Technologies Limited is a leading designer, developer and global supplier of a broad range of analog semiconductor devices with a focus on III-V based products. Our product portfolio is extensive and includes thousands of products in three primary target markets: wireless communications, wired infrastructure and industrial & other.

About LSI

LSI Corporation (Nasdaq:LSI) designs semiconductors and software that accelerate storage and networking in datacenters, mobile networks and client computing. Our technology is the intelligence critical to enhanced application performance, and is applied in solutions created in collaboration with our partners. More information is available at www.lsi.com.

About Silver Lake

Silver Lake is a global leader in private investments in technology and technology-enabled industries. Silver Lake invests with the strategic and operational insights of an experienced industry participant. The firm has approximately 110 investment and value creation professionals located in New York, Menlo Park, San Mateo, London, Hong Kong, Shanghai and Tokyo and manages approximately $20 billion in combined assets under management. The Silver Lake Partners portfolio includes or has included technology and technology-enabled industry leaders such as Alibaba, Allyes, Ameritrade, Avago, Avaya, Business Objects, Dell, Flextronics, Gartner, Gerson Lehrman Group, Global Blue, Instinet, Intelsat, Interactive Data Corporation, IPC Systems, MCI, Mercury Payment Systems, MultiPlan, the NASDAQ OMX Group, NetScout, NXP, Sabre, Seagate Technology, Serena Software, Skype, Smart Worldwide Holdings, Spreadtrum, SunGard Data Systems, UGS, Vantage Data Centers and William Morris Endeavor. For more information about Silver Lake and its entire portfolio, please visit www.silverlake.com.

Cautions Regarding Forward-Looking Statements

This communication may contain forward-looking statements. Forward-looking statements may be typically identified by such words as “may,” “will,” “should,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” and other similar expressions among others. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause our actual results to differ materially from the expectations expressed in the forward-looking statements. Although Avago Technologies Limited (“Avago”) and LSI Corporation (“LSI”) believe that the expectations reflected in the forward-looking statements are reasonable, any or all of such forward-looking statements may prove to be incorrect. Consequently, no forward-looking statements may be guaranteed and there can be no assurance that the actual results or developments anticipated by such forward looking statements will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Avago, LSI or their respective businesses or operations.

Factors which could cause actual results to differ from those projected or contemplated in any such forward-looking statements include, but are not limited to, the following factors: (1) the risk that the conditions to the closing of the merger are not satisfied (including a failure of the stockholders of LSI to approve, on a timely basis or otherwise, the merger and the risk that regulatory approvals required for the merger, including clearance from the Committee on Foreign Investment in the United States, are not obtained, on a timely basis or otherwise, or are obtained subject to conditions that are not anticipated); (2) litigation relating to the merger; (3) uncertainties as to the timing of the consummation of the merger and the ability of each of LSI and Avago to consummate the merger; (4) risks that the proposed transaction disrupts the current plans and operations of LSI or Avago; (5) the ability of LSI to retain and hire key personnel; (6) competitive responses to the proposed merger; (7) unexpected costs, charges or expenses resulting from the merger; (8) the failure by Avago to obtain the necessary debt financing arrangements set forth in the commitment letters received and other agreements entered into in connection with the merger; (9) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the merger; (10) Avago’s ability to achieve the growth prospects and synergies expected from the LSI acquisition; delays, challenges and expenses associated with integrating LSI with Avago’s existing businesses; and (11) legislative, regulatory and economic developments. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in LSI’s and Avago’s respective most recent Annual Reports on Form 10-K, and LSI’s and Avago’s more recent reports filed with the SEC. LSI and Avago can give no assurance that the conditions to the Merger will be satisfied. Neither LSI nor Avago undertakes any intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. LSI is responsible for information in this press release concerning LSI and Avago is responsible for information in this press release concerning Avago.

Additional Information about the Merger and Where to Find It

This communication is being made in respect of the proposed transaction involving LSI Corporation (“LSI”) and Avago Technologies Limited (“Avago”). The proposed transaction will be submitted to the stockholders of LSI for their consideration. In connection with the proposed transaction, LSI will prepare a proxy statement to be filed with the SEC. LSI and Avago also plan to file with the SEC other documents regarding the proposed transaction. LSI’S SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. When completed, a definitive proxy statement and a form of proxy will be mailed to the stockholders of LSI. Investors will be able to obtain, without charge, a copy of the proxy statement and other relevant documents (when available) filed with the SEC from the SEC’s website at http://www.sec.gov. Investors will also be able to obtain, without charge, a copy of the proxy statement and other relevant documents (when available) by going to www.lsiproxy.com, by writing to LSI Corporation, 1110 American Parkway NE, Allentown, PA 18109, Attn: Response Center, or by calling 1 (800) 372-2447.

LSI and Avago and their respective directors, executive officers may be deemed to be participants in the solicitation of proxies from LSI’s stockholders with respect to the meeting of stockholders that will be held to consider the proposed Merger. Information regarding LSI’s directors and executive officers is contained in LSI’s Annual Report on Form 10-K for the year ended December 31, 2012, the proxy statement for LSI’s 2013 Annual Meeting of Stockholders, which was filed with the SEC on March 28, 2013, and subsequent filings which LSI has made with the SEC. Information regarding Avago’s directors and executive officers is contained in Avago’s Annual Report on Form 10-K for the year ended October 28, 2012, the proxy statement for the Avago’s 2013 Annual Meeting of Stockholders, which was filed with the SEC on February 20, 2013, and subsequent filings which Avago has made with the SEC. Investors may obtain additional information regarding the interests of LSI and its directors and executive officers in the proposed Merger, which may be different than those of LSI’s stockholders generally, by reading the proxy statement and other relevant documents regarding the proposed Merger, when it becomes available. You may obtain free copies of this document as described in the preceding paragraph.

CONTACT: Avago Contacts			
         Bin Jiang				
         Investor Relations			
         +1 408-435-7400			
         investor.relations@avagotech.com

         John Christiansen or Lucy Neugart
         Sard Verbinnen & Co for Avago	
         +1 415-618-8750			
         jchristiansen@sardverb.com		
         lneugart@sardverb.com 

         Silver Lake Contacts
         Patricia Graue
         Brunswick Group for Silver Lake
         +1 415-671-7676 
         silverlake@brunswickgroup.com

         LSI Contacts
         Sujal Shah
         Investor Relations
         +1 610-712-5471
         sujal.shah@lsi.com

         David Miller
         Media Relations
         +1 408-712-7813
         dave.c.miller@lsi.com
Monday, December 16th, 2013 Uncategorized Comments Off on (LSI) Avago Technologies to Acquire LSI for $6.6 Billion in Cash

(SLTM) Valeant Pharmaceuticals Agrees to Acquire SLTM for $2.92 Per Share in Cash

Combination Creates a Global Leader in Aesthetics Transaction Values Solta at Approximately $250 Million Transaction Expected to Close in the First Quarter of 2014

LAVAL, Quebec and HAYWARD, Calif., Dec. 16, 2013  — Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) today announced that it has entered into a definitive agreement under which Valeant will acquire all of the outstanding common stock of Solta Medical, Inc. (NASDAQ: SLTM) for $2.92 per share in cash, which represents a 40% premium to Solta’s closing share price on December 13, 2013, the last trading day prior to announcement, or a transaction value of approximately $250 million.  The transaction is expected to close in the first quarter of 2014 and Valeant expects the transaction, once completed, to be immediately accretive to Valeant’s cash earnings per share.

Solta designs, develops, manufactures, and markets energy-based medical device systems for aesthetic applications.  Solta’s products include the Thermage CPT system that provides non-invasive treatment options using radiofrequency energy for skin tightening, the Fraxel repair system for use in dermatological procedures requiring ablation, coagulation, and resurfacing of soft tissue, the Clear + Brilliant system to improve skin texture and help prevent the signs of aging skin, and the Liposonix system that destroys unwanted fat cells resulting in waist circumference reduction.  Solta had total revenue of approximately $145 million in 2012.

“The acquisition of Solta will bring tremendous value to Valeant’s current aesthetic portfolio and together with our previous acquisitions, will create the broadest aesthetic portfolio in the industry,” stated J. Michael Pearson, Chairman and Chief Executive Officer of Valeant.  “Solta’s leading aesthetic devices are a natural fit with Valeant’s facial injectables, professional skin care products and physician dispensed products and will establish Valeant in a strong leadership position as we continue to build our presence in the aesthetic market.  Moreover, this transaction will further enhance our ability to offer dermatologists and plastic surgeons the most comprehensive aesthetic product offering.”

“Our Board of Directors has determined that this all cash offer is in the best interest of our stockholders. We further believe the acquisition by Valeant provides the best opportunity for Solta Medical brands and our employees to achieve their full potential while generating a significant, near term return for our stockholders,” stated Mark Sieczkarek, Chairman of the Board and Interim CEO of Solta Medical. “Valeant has a proven track record of successfully integrating a number of major acquisitions into their portfolio and has established a significant presence in the aesthetics market.  The addition of Solta’s industry leading brands and global sales organization creates a very compelling platform for future growth in the medical aesthetic segment.  Our entire team looks forward to executing a smooth transition of our operations into the Valeant organization.”

Under the terms of the agreement, Valeant will commence a tender offer for all outstanding shares of Solta at a price of $2.92 per share in cash. The tender offer will be conditioned on the tender of a majority of Solta’s shares calculated on a diluted basis, as well as the receipt of regulatory approval and other customary closing conditions. Following the completion of the tender offer, a wholly owned subsidiary of Valeant will merge with Solta and the outstanding Solta shares not tendered in the tender offer will be converted into the right to receive the same $2.92 per share in cash paid in the tender offer. Solta’s Board has unanimously approved the transaction.

Piper Jaffray & Co. acted as financial advisor to Solta and Fenwick & West LLP acted as legal advisor to Solta.  Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Valeant.

About Valeant Pharmaceuticals International, Inc.
Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, eye health, neurology, and branded generics.  More information about Valeant Pharmaceuticals International, Inc. can be found at www.valeant.com.

About Solta Medical, Inc.
Solta Medical, Inc. is a global leader in the medical aesthetics market providing innovative, safe, and effective solutions for patients that enhance and expand the practice of medical aesthetics for physicians. The company offers six aesthetic energy devices to address a range of issues, including skin resurfacing and rejuvenation with Fraxel® and Clear + Brilliant® body contouring and skin tightening with Liposonix® and Thermage® and acne reduction with Isolaz® and CLARO. As the innovator and leader in fractional laser technology, Fraxel delivers minimally invasive clinical solutions to resurface aging and sun damaged skin. Using similar fractional laser technology, Clear + Brilliant is a unique, cost-effective treatment to prevent and improve the early signs of photoaging. For body contouring, Liposonix is a non-surgical treatment to reduce waist circumference with advanced high-intensity focused ultrasound (HIFU) technology to permanently destroy targeted fat beneath the skin. Thermage is an innovative, non-invasive radiofrequency procedure for tightening and contouring skin. Isolaz was the first laser or light based system indicated for the treatment of inflammatory acne, comedonal acne, pustular acne, and mild-to-moderate inflammatory acne. CLARO is a personal care acne system that is the first FDA cleared over-the-counter IPL device that uses a powerful combination of both heat and light to clear skin quickly and naturally. More than two million procedures have been performed with Solta Medical’s portfolio of products around the world.

Forward-Looking Statements
This press release contains forward-looking statements regarding, among other things, the proposed acquisition by Valeant of Solta, expected timing and benefits of the transaction, as well as the impact on Valeant’s future cash earnings per share. Statements including words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plan,” “will,” “may,” “intend,” “guidance” or similar expressions are forward-looking statements. Because these statements reflect Valeant’s and Solta’s current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties. Investors should note that many factors could affect the proposed business combination of the companies, future financial results and could cause actual results to differ materially from those expressed in forward-looking statements contained in this press release. These factors include, but are not limited to: the risk that the acquisition will not close when expected or at all; the risk that Valeant’s business and/or Solta’s business will be adversely impacted during the pendency of the acquisition; the risk that the operations of the two companies will not be integrated successfully; and other risks and uncertainties, including those detailed from time to time in the companies’ periodic reports filed with the Securities and Exchange Commission (“SEC”) and in the case of Valeant, the Canadian Securities Administrators (“CSA”), including current reports on Form 8-K, quarterly reports on Form 10-Q and annual reports on Form 10-K,  which have been filed with the SEC and in the case of Valeant, the CSA. The forward-looking statements in this press release are qualified by these risk factors. These are factors that, individually or in the aggregate, could cause the companies’ actual results to differ materially from expected and historical results. The companies assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

Additional Information and Where to Find It
The tender offer described in this release has not yet commenced and this release is not a recommendation or an offer to purchase or a solicitation of an offer to sell shares of Solta. At the time the tender offer is commenced Sapphire Subsidiary Corp. and Valeant will file a Tender Offer Statement on Schedule TO, containing an offer to purchase, form of letter of transmittal and related tender offer documents, with the SEC and Solta will file a Solicitation/Recommendation Statement on Schedule 14D-9 relating to the tender offer with the SEC. Valeant and Solta intend to mail these documents to the stockholders of Solta. These documents, as they may be amended from time to time, will contain important information about the tender offer and stockholders of Solta are urged to read them carefully when they become available. Stockholders of Solta will be able to obtain a free copy of these documents, when they become available, at the website maintained by the SEC at www.sec.gov. In addition, the Tender Offer Statement and other documents that Valeant files with the SEC will be made available to all stockholders of Solta free of charge at www.valeant.com. The Solicitation/Recommendation Statement and the other documents filed by Solta with the SEC will be made available to all stockholders of Solta free of charge at www.Solta.com.

(Logo: http://photos.prnewswire.com/prnh/20101025/LA87217LOGO)

Contact Information:
Solta Medical, Inc. Valeant Pharmaceuticals International, Inc.
Investors: Investors and Media:
Jenifer Kirtland Laurie W. Little
415-568-9349 949-461-6002
jkirtland@evcgroup.com laurie.little@valeant.com
Media:
Nicole Kruse
212-850-6025
nkruse@evcgroup.com
Monday, December 16th, 2013 Uncategorized Comments Off on (SLTM) Valeant Pharmaceuticals Agrees to Acquire SLTM for $2.92 Per Share in Cash

(PATH) Endo to Acquire Specialty Pharmaceutical Company NuPathe

MALVERN, Pa., Dec. 16, 2013  —

  • Accretive transaction furthers Endo’s transformation into leading specialty healthcare company
  • Builds on Endo’s leadership in pain management through addition of ZECUITY® (sumatriptan iontophoretic transdermal system), the first and only FDA approved patch to treat migraine
  • Proven Endo branded pharmaceuticals commercial team to execute ZECUITY launch, expected in first half 2014

Endo Health Solutions (Nasdaq: ENDP) today announced it has entered into a definitive agreement under which Endo will acquire NuPathe Inc. (Nasdaq: PATH) for $2.85 per share in cash, or approximately $105 million.  In addition to the upfront cash payment, NuPathe shareholders will receive rights to receive additional cash payments of up to $3.15 per share if specified net sales of NuPathe’s migraine treatment ZECUITY are achieved over time.  Endo expects meaningful cost synergies from the transaction, which is expected to be accretive to Endo’s adjusted diluted earnings per share within the first 12 months of closing.

ZECUITY, which was approved by the U.S. Food and Drug Administration (FDA) in January 2013 for the acute treatment of migraine with or without aura in adults, is the first and only FDA-approved prescription migraine patch.  ZECUITY is a disposable, single-use, battery-powered transdermal patch that actively delivers sumatriptan, the most widely prescribed migraine medication, through the skin. ZECUITY provides relief of both migraine headache pain and migraine-related nausea (MRN).  ZECUITY was approved based upon an extensive development program with phase 3 trials that included 793 patients using nearly 10,000 ZECUITY patches.  In these trials, ZECUITY demonstrated a favorable safety profile and was effective at relieving migraine headache pain and migraine-related nausea two hours after patch activation.

“The acquisition of NuPathe enhances our branded pharmaceutical portfolio and is well aligned with our strategy of acquiring late-stage products for commercialization,” said Rajiv De Silva, president and CEO of Endo.  “We’re excited about the opportunity to launch ZECUITY, a treatment that could be an option for millions of migraine patients, including those with migraine-related nausea.  Following the close of the deal, we plan to launch ZECUITY in the first half of 2014 by leveraging our existing commercial expertise in pain and migraine management and the current infrastructure of our branded pharmaceuticals business overall.”

Armando Anido, chief executive officer of NuPathe, stated, “Our team has worked very hard to develop products that we believe will provide significant clinical advantages over current treatments for patient populations facing diseases of the central nervous system. We believe this acquisition by Endo will increase the potential for ZECUITY to make a meaningful difference for patients we have worked so hard to serve.”

Under the terms of the merger agreement, an affiliate of Endo will promptly commence a tender offer to acquire all of the outstanding shares of NuPathe’s common stock for $2.85 per share in cash and the right to receive contingent cash consideration payments of up to $3.15 per share if specified net sales milestones for NuPathe’s migraine treatment ZECUITY are achieved.  The contingent cash consideration payments will not be publicly traded.  The contingent cash consideration payments can be summarized as follows:

  • $2.15 per share if net sales of ZECUITY exceed $100 million during any four-quarter period prior to the ninth anniversary of the first commercial sale of ZECUITY; and
  • An additional $1.00 per share if net sales of ZECUITY exceed $300 million during any four-quarter period prior to the ninth anniversary of the first commercial sale of ZECUITY.

The affiliate of Endo that consummates the tender offer will enter into a separate Contingent Cash Consideration Agreement with American Stock Transfer & Trust Company as Paying Agent to provide for the payment of the contingent cash consideration payments.  The stockholders of NuPathe will be third party beneficiaries under this agreement.  Pursuant to the terms of the Contingent Cash Consideration Agreement, Endo will guarantee the obligations of its affiliate to make the contingent cash consideration payments.

Following the successful completion of the tender offer, Endo will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price and the obligation to make the same contingent cash consideration payments as was deliverable to those stockholders tendering their shares in the tender offer.  The tender offer and withdrawal rights are expected to expire at 12:00 midnight, New York City time on the 20th business day after the launch of the tender offer, unless extended in accordance with the merger agreement and the applicable rules and regulations of the Securities and Exchange Commission.

The consummation of the tender offer is subject to various conditions, including a minimum tender of a majority of outstanding NuPathe shares on a fully diluted basis, the expiration or termination of any applicable waiting periods under applicable competition laws, and other customary conditions.  The board of directors of NuPathe unanimously approved the transaction.

The transaction is expected to be completed in early 2014.

Skadden Arps is acting as a legal advisor to Endo.  MTS Securities, LLC, an affiliate of MTS Health Partners, LP, is acting as financial advisor and rendered a fairness opinion to NuPathe, and Morgan, Lewis & Bockius LLP is acting as legal advisor to NuPathe.

About ZECUITY 

ZECUITY is indicated for the acute treatment of migraine with or without aura in adults. ZECUITY is a single-use, battery-powered patch applied to the upper arm or thigh during a migraine. Following application and with a press of a button, ZECUITY initiates transdermal delivery (through the skin), bypassing the gastrointestinal tract. Throughout the four-hour dosing period, the microprocessor within ZECUITY continuously monitors skin resistance and adjusts drug delivery accordingly to ensure delivery of 6.5 mg of sumatriptan, the most widely prescribed migraine medication, with minimal patient-to-patient variability. ZECUITY is a registered trademark of NuPathe Inc.

Important Safety Information 

Patients should not take ZECUITY if they have heart disease, a history of heart disease or stroke, peripheral vascular disease (narrowing of blood vessels to your legs, arms, stomach or kidney), transient ischemic attack (TIA) or problems with blood circulation, uncontrolled blood pressure, migraines that cause temporary paralysis on one side of the body or basilar migraine, Wolff-Parkinson-White syndrome or other disturbances of heart rhythm. Very rarely, certain people, even some without heart disease, have had serious heart-related problems after taking triptans like ZECUITY.

Patients should not use ZECUITY if they have taken other migraine medications such as ergotamine medications or other triptans in the last 24 hours or if they have taken monoamine oxidase-A (MAO-A) inhibitors within the last 2 weeks.

Patients should not use ZECUITY during magnetic resonance imaging (MRI).

Patients should not use ZECUITY if they have an allergy to sumatriptan or components of ZECUITY or if they have had allergic contact dermatitis (ACD) following use of ZECUITY. If patients develop ACD, they should talk to their healthcare provider before using sumatriptan in another form.

ZECUITY, like other triptans, may be associated with a potentially life-threatening condition called serotonin syndrome, mainly when used together with certain types of antidepressants including serotonin reuptake inhibitors (SSRIs) or serotonin norepinephrine reuptake inhibitors (SNRIs).

Patients should tell their healthcare provider before using ZECUITY if they have heart disease or a family history of heart disease, stroke, high cholesterol or diabetes; have gone through menopause; are a smoker; have had epilepsy or seizures or if they are pregnant, nursing or thinking about becoming pregnant.

The most common side effects of ZECUITY are application site pain, tingling, itching, warmth and discomfort. Most patients experience some skin redness after removing ZECUITY. This redness typically goes away in 24 hours.

Go to www.zecuity.com for Full Prescribing Information, Patient Information and Instructions for Use.

About Endo

Endo Health Solutions Inc. is a U.S.-based specialty healthcare company with four distinct business segments that are focused on branded and generic pharmaceuticals, devices and services and provide quality products to its customers while improving the lives of patients. Through its operating companies – AMS, Endo Pharmaceuticals, HealthTronics and Qualitest – Endo is dedicated to finding solutions for the unmet needs of patients.

About NuPathe

NuPathe Inc. is a specialty pharmaceutical company focused on innovative neuroscience solutions for diseases of the central nervous system including neurological and psychiatric disorders.

 Forward-Looking Statements

This press release contains information that includes or is based on “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. These statements are based on current expectations of future events. Also, statements including words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plan,” “will,” “may” or similar expressions are forward-looking statements. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Endo’s and NuPathe’s expectations and projections. Risks and uncertainties include the degree to which, if any, that the transaction will be accretive to Endo, whether Endo will be able to launch ZECUITY on schedule, whether any of the net sales milestones for ZECUITY will be achieved, the satisfaction of closing conditions for the acquisition, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act and receipt of certain other regulatory approvals for the transaction, the tender of a majority of the outstanding shares of common stock of NuPathe, and the possibility that the transaction will not be completed; general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Endo’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012, filed with the U.S. Securities and Exchange Commission (SEC) on March 1, 2013, and its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2013, filed with the SEC on November 5, 2013 and NuPathe’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 as filed with the SEC on March 27, 2013 and its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2013, filed with the SEC on November 14, 2013, as well as the tender offer documents to be filed by Endo, and the Solicitation/Recommendation Statement to be filed by NuPathe. Copies of these filings, as well as subsequent filings, are available online at www.sec.gov, www.endo.com, www.nupathe.com or on request from Endo or NuPathe. Neither Endo nor NuPathe undertakes to update any forward-looking statements as a result of new information or future events or developments.

About the Tender Offer

The tender offer described in this document has not yet commenced. This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares of NuPathe.

At the time the offer is commenced, an affiliate of Endo will file a Tender Offer Statement on Schedule TO with the U.S. Securities and Exchange Commission, and NuPathe will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer.

The Offer to Purchase, the related Letter of Transmittal and certain other offer documents, as well as the Solicitation/Recommendation Statement, will be made available to all stockholders of NuPathe at no expense to them. The Tender Offer Statement and the Solicitation/Recommendation Statement will be made available for free at the Commission’s web site at www.sec.gov. Free copies of these materials and certain other offering documents will be made available by the information agent for the offer.

Additional Information and Where to Find It

In addition to the Solicitation/Recommendation Statement, NuPathe files annual, quarterly and special reports, proxy statements and other information with the Securities and Exchange Commission. You may read and copy any reports, statements or other information filed by NuPathe at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549.

Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. NuPathe’s filings with the Commission are also available to the public from commercial document-retrieval services and at the website maintained by the Commission at www.sec.gov.

Monday, December 16th, 2013 Uncategorized Comments Off on (PATH) Endo to Acquire Specialty Pharmaceutical Company NuPathe

(OXYS) Receives $2.10 Price Target from Taglich Brothers

OxySure Systems, Inc. (OTCQB: OXYS), a medical technology company that focuses on the design, manufacture and distribution of specialty respiratory and medical solutions, has made a lot of progress signing new distributors and growing its top- and bottom-line financial results over the past few months. Despite management’s strong performance, the stock remains significantly undervalued by many measures as highlighted in a recent research report.

Taglich Reiterates $2.10 Target

Taglich Brothers, a full service brokerage firm specializing in the micro-cap segment of the market for publicly traded securities, began its coverage of OxySure Systems on July 24, 2013 with a 12-month price target of $2.10. On December 9, 2013, the research firm issued an update that reiterated this price target and updated some of its financial projections given management’s better-than-expected performance in the fiscal third quarter of 2013.

According to the research update, “We value the stock at 7X estimated 2017 revenue per share of $0.63, a target of $4.40, which we have discounted by 25% to a year-ahead value of $2.10…” Our target is based on an estimated 29 million shares outstanding in 2017, reflecting shares, warrants and options outstanding as of September 30, 2013, as well as shares issued in connection with additional borrowing through 2015.”

Taglich Brothers expects OxySure Systems’ revenues to ramp up from about $1.9 million in FY2013 to approximately $4.9 million by FY2015. While it expects the company to sustain a net loss during FY 2015, the analyst believes the increase in revenues could create a positive cash flow by the end of FY2015, creating a potential catalyst for the stock.

Strong Third Quarter Results

OxySure Systems reported third quarter revenues that increased 428% to $545,820 and a net loss that decreased 38.3% to $82,613 or $0.00 per share. Shareholders’ deficit also improved more than $2 million due to assets expanding faster than liabilities. These trends look likely to continue into next year after it signed a new agreement with a Chilean distributor and indicated several other agreements were in the works following its Medica 2013 Trade Fair.

“Our results for the third quarter reflect our continued success at executing on strategic initiatives aimed at generating superior top-line growth while staying focused on controlling our expenses,” said CEO Julian Ross in the company’s third quarter earnings press release. “We plan to continue our strategy of building awareness for our new and innovative lifesaving products while investing in branding, distribution, R&D and sales.”

In a 10-Q filing with the SEC, OxySure Systems announced additional achievements during the quarter including significant progress in obtaining CE Marking in the E.U., new distributors in the U.S., and significant progress on its teaming agreement for the U.S. military. The company’s new leasing program with LeaseQ and new product additions, including its double-wall cabinet, also have the potential to contribute to its revenue moving forward.

Potential Investment Opportunity

OxySure Systems has multiple strategies at its fingertips to reach its true market potential that its management team has been diligently pursuing over the past few quarters. These efforts could culminate in both increased market penetration in its core markets and new revenue opportunities from new products, new end markets, and enhanced reimbursements from private and public agencies throughout the U.S., and eventually, the E.U. and international markets.

Taglich Brothers analyst Juan Noble recently reiterated his $2.10 per share price targeted based on the success of these strategies – a 173% premium to its December 13, 2013 price. However, the company’s real potential will be when the technology appears in Procter & Gamble’s (NYSE: PG) manufacturing facilities or Strayer Education’s (NASDAQ: STRA) school campuses alongside AEDs manufactured by companies like Johnson & Johnson (NYSE: JNJ).

Additional Information:

Company Website

Investor Presentation

Analyst Research Report

Recent Quarterly Report

Recent News Clip: OxySure Saves Baseball Player

Matt Lauer on Today Show: Kylee Shea Interview

For Additional Articles on OxySure Systems Inc, please visit SECFilings.com.

 

About Emerging Growth LLC:

EGC is a marketing and consulting firm that specializes in creating ongoing communications strategies for public and private companies.

 

Disclosure:

Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. For full disclosure please visit: http://secfilings.com/Disclaimer.aspx

Monday, December 16th, 2013 Uncategorized Comments Off on (OXYS) Receives $2.10 Price Target from Taglich Brothers

(NAK) re-acquires 100% ownership of southwest Alaska’s Pebble Project

Anglo American completes withdrawal from the Pebble Limited Partnership

VANCOUVER, Dec. 13, 2013 – Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE MKT: NAK) (“Northern Dynasty” or the “Company”) announces that it has exercised its right  to acquire Anglo American (US) Pebble LLC’s (“Anglo American”) interest in the Pebble Limited Partnership (“Pebble Partnership” or “PLP”). Northern Dynasty has now re-acquired 100% ownership and control of the Pebble Partnership. All Anglo American representatives have resigned from the Pebble Mines Corporation Board of Directors.

“During the course of the last six years and at a cost of US$556 million (as of September 30, 2013), substantial progress has been made toward our goal of permitting, constructing and operating a world-class, modern and environmentally responsible mine at Pebble that will co-exist with the fisheries resources of southwest Alaska,” said Northern Dynasty President & CEO Ronald Thiessen.

Thiessen said Pebble’s engineering design, environmental science and regulatory planning are now sufficiently advanced that PLP will be in a position to trigger federal and state permitting under the National Environmental Policy Act (NEPA) in the first quarter of 2014. He added that Northern Dynasty’s current focus is to consolidate all of the technical data, engineering work and permitting documentation related to Pebble into a data room, with the goal of qualifying and securing a new partner in 2014. A final decision on permit filing will be made in 2014, by the Northern Dynasty Board.

Our primary focus is to select the right partner for Northern Dynasty and the right investor for Alaska, a company with sufficient financial resources and technical capabilities, working experience in the United States and a shared commitment to environmentally sound and socially responsible development.  We have little doubt that Pebble will attract major mining company interest in the months ahead.”

Northern Dynasty has launched a new website to present current information related to Pebble Project developments at www.northerndynastyminerals.com.

About the Pebble Project

The Pebble Project is an initiative to responsibly develop a globally significant copper, gold and molybdenum deposit in southwest Alaska into a modern, long-life mine, which will benefit not only Northern Dynasty, but the people, culture and industries of the State of Alaska, as well as suppliers, consultants and industries in the Lower 48 United States of America.

A recent study authored by IHS Global Insight, entitled The Economic and Employment Contributions of a Conceptual Pebble Mine to the Alaska and United States Economies found the Pebble Project has the potential to support 15,000 American jobs and contribute more than $2.5 billion annually to US GDP over decades of production. A copy the study is available at www.northerndynasty.com.

The Pebble Project is located 200 miles southwest of Anchorage on state land designated for mineral exploration and development. It is situated in a region of rolling tundra approximately 1,000 feet above sea-level, 65 miles from tidewater on Cook Inlet and presents favourable conditions for successful mine site and infrastructure development.

About Northern Dynasty Minerals Ltd.

Northern Dynasty is a Vancouver, Canada-based company whose principal asset is the Pebble Project, an advanced-stage initiative to develop one of the world’s most important mineral resources.

Ronald W. Thiessen
President & CEO

Forward Looking Information and other Cautionary Factors

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, especially those that address estimated resource quantities, grades and contained metals, are forward-looking statements because they are generally made on the basis of estimation and extrapolation from a limited number of drill holes and metallurgical studies. Although diamond drill hole core provides valuable information about the size, shape and geology of an exploration project, there will always remain a significant degree of uncertainty in connection with these valuation factors until a deposit has been extensively drilled on closely spaced centers, which has occurred only in specific areas on the Pebble Project. Although the Company believes the expectations expressed in its forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of the ultimate size, quality or commercial feasibility of the Pebble Project or of the Company’s future performance. The likelihood of future mining at the Pebble Project is subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including obtaining necessary mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for underground workings and processing facilities as well as receipt of significant additional financing to fund these objectives as well as funding mine construction, and the ability to secure the right partner to assist with the advancement of the Pebble Project from a financial and technical perspective, and otherwise. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at the Pebble Project and there is no assurance that the mineralization at the Pebble Project will ever be classified as ore. The need for compliance with extensive environmental and socio-economic rules and practices and the requirement for the Company to obtain government permitting can cause a delay or even abandonment of a mineral project. The Company is also subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company’s annual Form 40-F filing with the United States Securities and Exchange Commission and its home jurisdiction filings that are available at www.sedar.com.

Friday, December 13th, 2013 Uncategorized Comments Off on (NAK) re-acquires 100% ownership of southwest Alaska’s Pebble Project

(CLSN) Combined Clinical Data from Two Phase I Breast Cancer Trials

Combined Safety and Efficacy Results with ThermoDox® plus Hyperthermia for Recurrent Breast Cancer at the Chest Wall

LAWRENCEVILLE, N.J., Dec.13, 2013 — Celsion Corporation (NASDAQ: CLSN), an oncology drug development company, today announced the presentation of the combined clinical study results from the Company’s Phase I DIGNITY study and the Duke University sponsored Phase I trial of ThermoDox® plus hyperthermia in Breast Cancer Recurrences at the Chest Wall (BCRCW) at the 2013 San Antonio Breast Cancer Conference during Poster Session #4 on Friday, December 13, 2013 between 7:30 am to 9:00 am (local time). The poster, titled “Novel Targeted Therapy for Breast Cancer Chest Wall Recurrence: Low Temperature Liposomal Doxorubicin and Mild Local Hyperthermia ” was presented by Professor Hope S. Rugo, MD, from the University of California, San Francisco Comprehensive Cancer Center.  A copy of the poster presentation is available on the Company’s website at www.celsion.com.

The two similarly designed Phase I studies enrolled patients with highly resistant tumors found on the chest wall and who had progressed on previous therapy including chemotherapy, radiation therapy and hormone therapy.  Unresectable BCRCW is very difficult to treat and often responds poorly to radiation and systemic chemotherapy.  These patients can suffer from disfiguring tumors and clinical symptoms including pain, reduced range of motion, and skin ulceration with bleeding and potential necrotic, infected wounds.  ThermoDox® in combination with mild hyperthermia was evaluated in these patients in up to six cycles. Both studies employed an open label 3+3 dose escalation study design to determine the Maximum Tolerated Dose (MTD), evaluate safety and determine early effects of ThermoDox® in combination with mild hyperthermia.  There were 29 patients treated in the two trials (11 patients in the Company’s DIGNITY study and 18 patients in the Duke study).  Of the 29 patients treated, 23 were eligible for evaluation of efficacy.  A local response rate of over 60% was reported in 14 of the 23 evaluable patients with 5 complete responses and 9 partial responses.  Based on the results from these two Phase I studies, Celsion is currently enrolling up to 20 patients in an open label Phase 2 study at 5 US clinical sites.

“The patients enrolled in both of these Phase I trials are faced with limited or no treatment options.  ThermoDox® and mild hyperthermia therapy appears to be active in these heavily pre-treated patients with recurrent breast cancer.  Some patients even had prior exposure to doxorubicin or other anthracyclines,” said Dr. Hope S. Rugo. “The impressive local response rate seen in these two studies was determined by lesion measurements and digital imaging data.   Patients are pleased with the local control in the treated areas. I look forward to continuing my involvement in the Phase 2 portion of the DIGNITY study and its future application to clinical development of ThermoDox® across different cancers.”

About Celsion Corporation

Celsion is an oncology drug development company dedicated to the development and commercialization of innovative cancer drugs including tumor-targeting treatments using focused heat energy in combination with heat-activated liposomal drug technology. Celsion has research, license, or commercialization agreements with leading institutions including the National Institutes of Health, Duke University Medical Center, University of Hong Kong, the University of Pisa, the UCLA Department of Medicine, the Kyungpook National University Hospital, the Beijing Cancer Hospital and the University of Oxford.

For more information on Celsion, visit our website: http://www.celsion.com.

Celsion wishes to inform readers that forward-looking statements in this release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, unforeseen changes in the course of research and development activities and in clinical trials by others; possible acquisitions of other technologies, assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

Investor Contact

Jeffrey W. Church
Senior Vice President and
Chief Financial Officer
(609) 482-2455

Friday, December 13th, 2013 Uncategorized Comments Off on (CLSN) Combined Clinical Data from Two Phase I Breast Cancer Trials

(HGSH) Reports Full Year Financial Results

HANZHONG, China, Dec. 13, 2013 — China HGS Real Estate Inc. (NASDAQ: HGSH) (“China HGS” or the “Company”), a leading regional real estate developer headquartered in Hanzhong City, Shaanxi Province, China, today filed its Annual Report on Form 10-K for the fiscal year 2013 ended September 30, 2013 with the U.S. Securities and Exchange Commission. An electronic copy of the Annual Report on Form 10-K can be accessed on the SEC’s website at www.sec.gov.

Highlights for the Fiscal 2013

  • Total revenues for the fiscal 2013 were approximately $67.8 million, an increase of approximately 260% from approximately $18.9 million in fiscal 2012.
  • The Company adopted Percentage of Completion method to recognize real estate sales from long term real estate development projects, total revenue recognized from percentage of completion method was approximately $27.5 million, which accounted for 40.6% of total revenue in fiscal 2013.
  • Net income for the fiscal 2013 totaled approximately $20.8 million, an increase of approximately 300% from the net income of approximately $5.2 million in fiscal 2012.
  • Basic and diluted net earnings per share (“EPS”) attributable to shareholders for the fiscal 2013 were $0.46, compared to $0.11 for the fiscal 2012.

“I am very pleased that the Company delivered an outstanding performance driven by solid market demands despite restrictive measurements imposed by the central government on the real estate market in China,” said Mr. Xiaojun Zhu, Chairman and Chief Executive Officer of China HGS.

“Looking ahead in fiscal 2014, we remain focused on completing the construction of our on-going apartment complex projects. As the construction of some of our large scale high rise apartment buildings are moving closer to the completion stage, we plan to step up our sales efforts and expect our sales revenue to steadily increase. Longer term, the Company will continue to focus on building large-scale and high quality communities in Tier 3 and Tier 4 cities and expand development models into new markets,” concluded Mr. Xiaojun Zhu.

Safe Harbor Statement

This press release contains forward-looking statements, which are subject to change. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All “forward-looking statements” relating to the business of China HGS Real Estate Inc., which can be identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties which could cause actual results to differ. These factors include but are not limited to: the uncertain market for the Company’s business, macroeconomic, technological, regulatory, or other factors affecting the profitability of real estate business; and other risks related to the Company’s business and risks related to operating in China. Please refer to the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2013, for specific details on risk factors. Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. The Company’s actual results could differ materially from those contained in the forward-looking statements. The Company undertakes no obligation to revise or update its forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

About China HGS Real Estate, Inc.

China HGS Real Estate, Inc. (NASDAQ: HGSH), founded in 1995 and headquartered in Hanzhong City, Shaanxi Province, is a leading real estate developer in the region and holds the national grade I real estate qualification. The Company focuses on the development of high-rise, sub-high-rise residential buildings and multi-building apartment complexes in China’s Tier 3 and Tier 4 cities and counties with rapidly growing populations driven by increased urbanization. The Company provides affordable housing with popular and modern designs to meet the needs of multiple buyer groups. The Company’s development activity spans a range of services, including land acquisition, project planning, design management, construction management, sales and marketing, and property management. For further information about China HGS, please go to www.chinahgs.com.

Company contact:

Randy Xiong, President of Capital Market
China Phone: (86) 091-62622612
Email: randy.xiong@chinahgs.com

 

CHINA HGS REAL ESTATE INC.

CONSOLIDATED BALANCE SHEETS

September 30,
2013 2012
ASSETS
Current assets:
Cash $ 5,878,101 $ 1,104,686
Restricted cash 1,332,807 1,080,985
Advances to vendors 109,134 2,566,422
Loans to outside parties, net 20,957
Cost and earnings in excess of billings 2,178,270
Real estate property development completed 11,607,164 19,534,088
Real estate property under development 1,580,670 8,590,275
Other current assets 368,377 171,863
Total current assets 23,054,523 33,069,276
Property, plant and equipment, net 977,739 1,037,080
Real estate property development completed, net of current portion 7,619,811 6,691,813
Security deposits for land use right 3,259,240 22,894,698
Real estate property under development, net of current portion 142,916,601 56,021,787
Total Assets $ 177,827,914 $ 119,714,654
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:

Bank loan – current portion

$ 4,888,860 $
Accounts payable 22,527,686 3,828,880
Other payables 1,863,922 1,213,394
Construction deposits 357,447 301,318
Billings in excess of cost and earnings 5,109,758
Customer deposits 6,130,466 11,597,422
Shareholder loan 1,810,000 1,810,000
Accrued expenses 2,896,539 2,305,086
Taxes payable 6,612,707 4,336,458
Total current liabilities 52,197,385 25,392,558
Deferred tax liabilities 650,067
Customer deposits, net of current portion 13,410,081 17,743,993
Long-term bank loan, less current portion 11,407,340
Construction deposits, net of current portion 1,013,877 864,259
Total liabilities 78,678,750 44,000,810
Commitments and Contingencies
Stockholders’ equity
Common stock, $0.001 par value, 100,000,000 shares
authorized, 45,050,000 shares issued and outstanding as of
September 30, 2013 and 2012 $ 45,050 $ 45,050
Additional paid-in capital 17,759,349 17,750,337
Statutory surplus 8,977,230 6,549,354
Retained earnings 63,257,918 44,894,229
Accumulated other comprehensive income 9,109,617 6,474,874
Total stockholders’ equity 99,149,164 75,713,844
Total Liabilities and Stockholders’ Equity $ 177,827,914 $ 119,714,654

 

CHINA HGS REAL ESTATE INC.
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
FOR THE YEARS ENDED SEPTEMBER 30,
2013 2012
Real estate sales $ 67,809,073 $ 18,856,978
Less:   Sales tax 4,244,644 1,180,437
Cost of real estate sales 37,284,088 9,590,009
Gross profit 26,280,341 8,086,532
Operating expenses
Selling and distribution expenses 915,217 517,025
General and administrative expenses 3,087,434 2,049,388
Total operating expenses 4,002,651 2,566,413
Operating income 22,277,690 5,520,119
Interest income (expense) – net (98,305) (73,608)
Other income – net 10,398 12,659
Income before income taxes 22,189,783 5,459,170
Provision for income taxes 1,398,218 283,077
Net income 20,791,565 5, 176,093
Other comprehensive income
Foreign currency translation adjustment 2,634,743 862,601
Comprehensive income $ 23,426,308 $ 6,038,694
Basic and diluted income per common share
Basic $ 0.46 $ 0.11
Diluted $ 0.46 $ 0.11
Weighted average common shares outstanding
Basic 45,050,000 45,050,000
Diluted 45,124,474 45,050,000

 

 CHINA HGS REAL ESTATE INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
FOR THE YEARS ENDED SEPTEMBER 30, 2013 AND 2012
 

Common Stock

Shares

Par value
$0.001
Amount
AdditionalPaid-in

Capital

StatutorySurplus RetainedEarnings AccumulatedOther

Comprehensive

Income

Total
Balance at September 30,2011 45,050,000 $ 45,050 $ 17,724,085 $ 5,945,384 $ 40,322,106 $ 5,612,273 $ 69,648,898
Stock-based Compensation 26,252 26,252
Appropriation of statutory reserve 603,970 (603,970)
Net income for the year 5,176,093 5,176,093
Foreign currency

translation adjustments

862,601 862,601
Balance at September 30, 2012 45,050,000 $ 45,050 $ 17,750,337 $ 6,549,354 $ 44,894,229 $ 6,474,874 $ 75,713,844
Stock-based

Compensation

9,012 9,012
Appropriation of statutory reserve 2,427,876 (2,427,876)
Net income for the year 20,791,565 20,791,565
Foreign currency translation adjustments 2,634,743 2,634,743
Balance at September 30,

2013

45,050,000 $ 45,050 $ 17,759,349 $ 8,977,230 $ 63,257,918 $ 9,109,617 $ 99,149,164

 

 CHINA HGS REAL ESTATE INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED SEPTEMBER 30,
2013 2012
Cash flows from operating activities
Net income $ 20,791,565 $ 5,176,093
Adjustments to reconcile net income to net cash used in operatingactivities:
Depreciation 88,818 89,363
Stock based compensation 9,012 26,252
Changes in assets and liabilities:
Restricted cash (216,286) (184,604)
Advances to vendors 2,494,790 3,435,815
Loans to outside parties 21,249 2,581,379
Security deposits for land use rights 20,005,071 (16,562,486)
Cost and earnings in excess of billings (2,144,855)
Real estate property development completed 7,659,989 (7,110, 766)
Real estate property under development (76,766,598) (126,162)
Other current assets (188,464) (85,398)
Accounts payables 18,299,774 (3,700,969)
Other payables 604,996 885,072
Customer deposits (10,510,235) 7,089,879
Construction deposits 168,439 106,436
Billings in excess of cost and earnings 5,031,374
Accrued expenses 518,602 277,201
Taxes payable 2,114,271 264,205
Net cash used in operating activities $ (12,018,488) $ (7,838,690)
Cash flow from financing activities
Proceeds from bank loan 16,046,213
Proceeds from shareholder loan 3,142,332
Repayment of shareholder loan (3,142,332)
Net cash provided by financing activities $ 16,046,213 $
Effect of changes of foreign exchange rate on cash 745,690 105,581
Net increase (decrease) in cash 4,773,415 (7,733,109)
Cash, beginning of year 1,104,686 8,837,795
Cash, end of year $ 5,878,101 $ 1,104,686
Supplemental disclosures of cash flow information:
Interest paid $ 55,839 $
Income taxes paid $ 780,908 $ 129,863
Friday, December 13th, 2013 Uncategorized Comments Off on (HGSH) Reports Full Year Financial Results

(ICLD) Agreement to Acquire Integration Partners-NY Corp., $11.6M Convertible Debenture

RED BANK, N.J., Dec. 13, 2013 — InterCloud Systems, Inc. (Nasdaq:ICLD) (the “Company” or “InterCloud”), a single-source provider of end-to end IT and telecom solutions to the service provider and corporate enterprise markets through cloud platforms and professional services, announced today the execution of a definitive agreement to acquire Integration Partners-NY Corporation (“IPC-NY”). IPC-NY serves both corporate enterprises and services providers, and is expected to support the Company’s cloud and managed services capabilities. IPC-NY has enterprise and service provider customers and will help distribute the Company’s cloud platform to its new and existing customers. IPC-NY is expected to have 2013 gross revenues of approximately $25 million and 2013 net income of approximately $3.5 million. The Company expects to close the acquisition of IPC-NY no later than December 31, 2013.

In order to finance this acquisition, the Company completed the sale today of  $11.625 million aggregate principal amount of 12% convertible debentures (the “Debentures”).

The Debentures bear interest at the rate of 12% per annum, and mature on June 13, 2015. At the Company’s election, subject to certain conditions, principal and interest payments on the Debentures may be paid in shares of the Company’s common stock. The Debentures also are convertible into shares of the Company’s common stock at the election of the holders at a conversion price equal to the lesser of (i) $6.36, or (ii) 85% of the price per share of the common stock in the Company’s first underwritten public offering of not less than $10 million, in each case subject to customary adjustments.

In connection with the sale of the Debentures, the Company agreed to register for resale under the Securities Act of 1933 the shares of common issued or issuable upon conversion or payment of the Debentures by filing a resale registration statement with the Securities and Exchange Commission within ten days of the filing of its Annual Report on Form 10-K for the year ending December 31, 2013. The Company also entered into a voting agreement with certain members of management and certain holders of its common stock pursuant to which those parties agreed to vote in favor of any stockholder proposal seeking to approve the issuance of shares of common stock in connection with the conversion or payment of the Debentures.

Aegis Capital Corp. acted as the sole placement agent for the offering.

InterCloud CEO, Mark E. Munro, stated, “We are excited about the synergies this acquisition brings to InterCloud and its immediate accretive earnings affect. IPC-NY is a growing business with a seasoned and successful management team. There are significant growth opportunities in cloud-based solutions that allow both enterprises and service providers to integrate their applications and various services into our cloud platform and offer them the ability to deliver services cost efficiently to their customers. InterCloud and IPC-NY create a dynamic organization that leverages our capabilities to deliver and support the many facets of cloud applications and managed services. We are very pleased that we had the institutional support to enable this transaction to happen.”

About InterCloud Systems, Inc.

InterCloud Systems, Inc. is a global single-source provider of value-added services for both corporate enterprises and service providers. The Company offers cloud and managed services, professional consulting services and voice, data and optical solutions to assist its customers in meeting their changing technology demands. Its engineering, design, installation and maintenance services support the build-out and operation of some of the most advanced enterprise, fiber optic, Ethernet, and wireless networks. Additional information regarding InterCloud may be found on the Company’s website at www.intercloudsys.com.

About Integration Partners-NY Corporation

Integration Partners-NY is a managed service provider offering its enterprise and service provider clients an end-to-end portfolio of IT solutions including voice, data, optical and unified communications services. IPC-NY consults, designs, builds, implements, and services IT networks for enterprise and service provider networks. The synergies with InterCloud will allow its clients to transition from existing IT networks to open architecture Cloud based solutions.

Forward-looking statements:

The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.

CONTACT: Investor Relations
         RedChip Companies, Inc.
         Mike Bowdoin, Vice President
         800-733-2447, ext. 110
         mike@redchip.com
Friday, December 13th, 2013 Uncategorized Comments Off on (ICLD) Agreement to Acquire Integration Partners-NY Corp., $11.6M Convertible Debenture

(ADMP) Pricing of Public Offering, Listing on NASDAQ, Reverse Stock Split

SAN DIEGO, CA–(Dec 13, 2013) – Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) today announced the pricing of an underwritten public offering of 3,720,000 shares of common stock at an offering price of $5.95 per share. The gross proceeds to Adamis from this offering are expected to be approximately $22,134,000, before deducting underwriting discounts and commissions and other estimated offering expenses. All of the shares in the offering are being sold by Adamis. The offering is expected to close on December 18, 2013, subject to customary closing conditions. In connection with the offering, Adamis has completed a 1-for-17 reverse stock split of its common stock which is effective as of December 13, 2013. The common stock began trading, on a split-adjusted basis, on The NASDAQ Capital Market under the symbol “ADMP” on December 13, 2013. In connection with its listing on The NASDAQ Capital Market, the company’s common stock will cease trading on the OTC QB.

CRT Capital Group, LLC is acting as sole book-running manager for the offering, and Newport Coast Securities, Inc. is acting as co-manager of the offering. Adamis has granted the representative of the underwriters a 30-day option to purchase up to a maximum of 558,000 additional shares of common stock from Adamis to cover over-allotments, if any.

Adamis intends to use approximately $7 million of the net proceeds from the offering to make the final payment to acquire the assets relating to the Taper dry powder inhaler technology pursuant to an agreement that the company entered into earlier this year. An additional approximately $7.2 million of the net proceeds are also expected to be used to pay in full all amounts owed under unconverted convertible promissory notes that were issued in a private placement financing transaction in June 2013. Remaining net proceeds are expected to be used to fund the filing and launch of the Epinephrine PFS product candidate, fund clinical trials, and for working capital and general corporate purposes, including payment of outstanding obligations and indebtedness.

A registration statement on Form S-1 relating to the shares of common stock offered by the company was filed with the Securities and Exchange Commission and is effective. A preliminary prospectus relating to the offering has been filed with the SEC and is available on the SEC’s web site at http://www.sec.gov. Copies of the final prospectus relating to the offering, when available, may be obtained from CRT Capital Group LLC, 262 Harbor Drive, Stamford, CT 06902, or from the above-mentioned SEC website.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

About Adamis Pharmaceuticals Corporation

Adamis Pharmaceuticals Corporation is a biopharmaceutical company engaged in the development and commercialization of specialty pharmaceutical and biotechnology products in the therapeutic areas of respiratory disease, allergy, oncology and immunology. The company’s current specialty pharmaceutical product candidates include the Epinephrine Injection PFS syringe product for use in the emergency treatment of anaphylaxis, APC-1000 and APC-5000 for the treatment of asthma and chronic obstructive pulmonary disease, and APC-3000, an HFA inhaled nasal steroid product for the treatment of allergic rhinitis. The company’s vaccine product candidates and cancer drug product candidates under research and development include TeloB-VAX, a cell-based therapeutic cancer vaccine and three drugs, APC-100, APC-200, and APC-300, for the treatment of prostate cancer.

Adamis Contacts

Mark Flather
Director, Investor Relations &
Corporate Communications
Adamis Pharmaceuticals Corporation
(858) 412-7951
mflather@adamispharma.com

Friday, December 13th, 2013 Uncategorized Comments Off on (ADMP) Pricing of Public Offering, Listing on NASDAQ, Reverse Stock Split

(CORT) Announces Oncology Development Program

Five of Eight Patients With Relapsed, Metastatic Triple-Negative Breast Cancer (TNBC) Experienced a Partial or Complete Response With Mifepristone and Chemotherapy Combination According to Data Presented at the San Antonio Breast Cancer Symposium 2013; Company Files Investigational New Drug Application With FDA to Launch Phase I Study in Relapsed Metastatic TNBC

SAN ANTONIO, TX–(Dec 12, 2013) – Corcept Therapeutics Incorporated (NASDAQ: CORT), a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders, announced plans to extend its development program for glucocorticoid receptor (GR) antagonists, including mifepristone, into oncology. The decision is based on a body of early clinical and pre-clinical data from leading academic institutions including the University of Chicago showing the significant role that cortisol, a glucocorticoid stress hormone, and its receptors play in chemotherapy resistance, particularly for women with relapsed, metastatic triple-negative breast cancer (TNBC), a form of the disease with a poor prognosis.

Rita Nanda, M.D., Associate Director, Breast Medical Oncology, University of Chicago Medicine, today announced results of an investigator-sponsored Phase I study of mifepristone in combination with chemotherapy agent nab-paclitaxel (Abraxane®)(1) at the San Antonio Breast Cancer Symposium 2013 (Abstract P2-16-21).

“We are encouraged by the results of our study, which found that five of the eight patients with relapsed metastatic triple-negative breast cancer who participated in the trial exhibited a partial or complete clinical response to treatment with mifepristone plus nab-paclitaxel. The combination of mifepristone and chemotherapy was well-tolerated,” Dr. Nanda said. “We are excited to continue our clinical investigation into this promising therapeutic approach.”

One additional patient in the study who had estrogen-receptor-positive metastatic breast cancer did not respond to treatment.

Corcept has licensed patent rights from UChicagoTech, the University of Chicago’s Center for Technology Development & Ventures, covering the use of GR antagonists in combination with chemotherapy in the treatment of estrogen-receptor-negative breast cancer, a form of cancer than includes TNBC.

Based on the University of Chicago’s positive study and years of in vitro and animal research, Corcept has filed an investigational new drug (IND) application with the U.S. Food and Drug Administration (FDA) and will conduct its own multi-center, Phase I clinical study of mifepristone in combination with chemotherapy drug eribulin (Halaven® Injection)(2) in patients with relapsed, metastatic TNBC. The University of Chicago and other leading cancer treatment centers will participate in this open-label Phase I study of up to 40 patients with metastatic TNBC, including an expansion phase with efficacy endpoints in GR-positive TNBC.

“Over the last decade and a half, we have worked to identify signaling pathways that help triple-negative breast cancer cells resist the effects of chemotherapy,” said Suzanne Conzen, M.D., Professor of Hematology/Oncology at University of Chicago Medicine. “Our laboratory discovered that glucocorticoids play an important role in activating pathways in these cells that allow them to survive despite chemotherapy. Based on those findings, we hypothesized that targeting the glucocorticoid receptor with the antagonist mifepristone might prevent this downstream cell survival response and allow chemotherapy to be more effective against breast cancer.”

The American Cancer Society estimates that more than 234,000 women in the U.S. were diagnosed with breast cancer in 2013 and an estimated 39,620 will die of the disease by the end of the year(3). Research shows that TNBC accounts for 15 to 20 percent of new cases(4), yet causes roughly one-in-four of all breast cancer-related deaths(5). Unlike hormone-receptor-positive and HER-2-amplified breast cancers, there is no FDA-approved treatment for TNBC and neither a targeted treatment nor a preferred standard chemotherapy regimen for relapsed TNBC patients exists. The median survival of patients with advanced TNBC is approximately six months based on a retrospective review of more than 3,700 patients(6). Targeted treatment approaches are needed.

“We increasingly appreciate the profound physiological role that cortisol plays in many conditions and diseases,” said Joseph K. Belanoff, M.D., Corcept’s Chief Executive Officer. “We would like to thank Dr. Conzen, Dr. Nanda and Dr. Gini Fleming, Director of the Medical Oncology Breast Program at University of Chicago Medicine, for their years of dedication to understanding the implications of glucocorticoids and their receptors’ activity in patients with advanced breast cancer. This work has laid the groundwork for the use of mifepristone for metastatic TNBC. We look forward to dosing the first patient in our study early in the first quarter of 2014.”

About Triple Negative Breast Cancer (TNBC)

Research shows that TNBC occurs more often in younger women, African-American women, Hispanic/Latina women and women who have BRCA1 mutations. A diagnosis of triple-negative breast cancer means that the three most common types of receptors known to fuel most breast cancer growth — estrogen, progesterone, and the HER-2/neu gene — are not present in the cancer tumor. Since the tumor cells lack the necessary receptors, common treatments like hormone therapy and drugs that target estrogen, progesterone, and HER-2 are ineffective.

About the San Antonio Breast Cancer Symposium

For thirty-six years, the Symposium’s mission has been to provide state-of-the-art information on breast cancer research. From a one-day regional conference, the Symposium has grown to a five-day program attended by a broad international audience of academic and private researchers and physicians from over 90 countries. The Symposium aims to achieve a balance of clinical, translational, and basic research, providing a forum for interaction, communication, and education for a broad spectrum of researchers, health professionals, and those with a special interest in breast cancer.

About Corcept Therapeutics Incorporated

Corcept is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. Korlym, a first generation GR antagonist, is the company’s first FDA-approved medication for use in the treatment of patients with Cushing’s syndrome. Corcept has a phase 3 trial underway for mifepristone for treatment of the psychotic features of psychotic depression, as well as a portfolio of selective GR antagonists that block the effects of cortisol without blocking the effects of progesterone. It owns extensive intellectual property covering the use of GR antagonists, including mifepristone, in the treatment of a wide variety of metabolic, psychiatric and oncologic disorders. It also holds composition of matter patents for its selective GR antagonists. For more information about Corcept please visit: www.corcept.com

1. Abraxane® is a registered trademark of Celgene Corporation.
2. Halaven® is a registered trademark used by Eisai Inc. under license from Eisai R&D Management Co., Ltd.
3. American Cancer Society. Cancer Facts & Figures 2013. Atlanta: American Cancer Society; 2013
4. Susan G. Komen Website, Triple-Negative Breast Cancer. 23 October 2013. Available at http://ww5.komen.org/TripleNegativeBreastCancer.html, Accessed December 6, 2013
5. Van Epps, Heather L., PHD. “Triple-Negative Breast Cancer: Divide and Conquer.” Cure Today. 17 Sept. 2013
6. Kennecke H, Yerushalmi R, Woods R, et al. Metastatic behavior of breast cancer subtypes. J Clin Oncol. 2010;28(20):3271-7.

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

Statements made in this news release, other than statements of historical fact, are forward-looking statements. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that might cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements in this news release include but are not limited to statements regarding the timing and potential findings of the study of mifepristone in combination with chemotherapy in the treatment of metastatic triple-negative breast cancer. Actual results may differ materially from those anticipated in these forward-looking statements. Factors that may contribute to such differences include, among others, Corcept’s ability to initiate and conduct clinical trials, the pace of enrollment in or the outcome of those trials, the protections afforded by Corcept’s patents and other intellectual property rights, and the effects of rapid technological change and competition. These and other risks are set forth in Corcept’s SEC filings, all of which are available from the company’s website (http://www.corcept.com) or from the SEC’s website (http://www.sec.gov). Corcept disclaims any intention or duty to update any forward-looking statement made in this news release, except as may be required by law.

Investor Contact
Charles Robb
Chief Financial Officer
Corcept Therapeutics Incorporated
650-688-8783

Media Contact
Erich Sandoval for Corcept
Lazar Partners Ltd.
Email Contact
Tel: 917-497-2867

Thursday, December 12th, 2013 Uncategorized Comments Off on (CORT) Announces Oncology Development Program

(BAXS) Surgical Announces Final Payment Decision

CMS Increases Relative Value Units 18.8% in CY 2014 Final Physician Fee Schedule

RALEIGH, N.C., Dec. 12, 2013 — Baxano Surgical, Inc. (Nasdaq:BAXS), a medical device company focused on designing, developing and marketing minimally invasive products to treat degenerative conditions of the spine affecting the lumbar region, today announced the 2014 Medicare Final Physician Fee Schedule Rule released in late November revises upward the Practice Expense Relative Value Units (PERVUs) for Current Procedural Terminology (CPT) Code 22586 for pre-sacral interbody fusion. The total Relative Value Units (RVUs) for CPT Code 22586 are 53.76 in 2014, an 18.8% increase over 2013.

“Pre-sacral interbody fusion, performed with our AxiaLIF Plus implant, is an important option for surgeons in their treatment of specific spine pathologies due to its less invasive approach,” stated Ken Reali, President and CEO of Baxano Surgical. “The peer-reviewed medical literature supports AxiaLIF’s safety and efficacy in appropriately selected patients. Medicare’s revision to the physician fee schedule for the procedure helps to ensure that surgeons will be fairly compensated for performing the service.”

About Baxano Surgical, Inc.

Baxano Surgical, Inc. is a medical device company focused on designing, developing, and marketing minimally invasive products to treat degenerative conditions of the spine affecting the lumbar region. Baxano Surgical currently markets the AxiaLIF® family of products for single and two level lower lumbar fusion, the VEO® lateral access and interbody fusion system, the iO-Flex® system, a proprietary set of flexible instruments used by surgeons during spinal decompression procedures and the iO-Tome® instrument, which rapidly and precisely removes bone, specifically the facet joints, which is commonly performed in spinal fusion procedures. Baxano Surgical was founded in May 2000 and is headquartered in Raleigh, North Carolina. For more information, visit www.baxanosurgical.com.

AxiaLIF, VEO, iO-Flex and iO-Tome are registered trademarks of Baxano Surgical.

CONTACT: Westwicke Partners
         Mark Klausner
         443-213-0501
         baxanosurgical@westwicke.com
Thursday, December 12th, 2013 Uncategorized Comments Off on (BAXS) Surgical Announces Final Payment Decision

(MDXG) Receives Additional Medicare Reimbursement Coverage for EpiFix®

6 of 8 Medicare Administrative Contractors Now Cover MiMedx EpiFix® Wound Care Allografts

MARIETTA, Ga., Dec. 12, 2013  — MiMedx Group, Inc. (NASDAQ: MDXG), an integrated developer, manufacturer and marketer of patent protected regenerative biomaterials and bioimplants processed from human amniotic membrane, announced today that Medicare contractor, CGS, has confirmed that the Company’s wound care allograft, EpiFix®, has received reimbursement coverage from CGS.  The coverage by CGS now brings the total Medicare Administrative Contractors (MACs) covering EpiFix® to six of the eight and 86% of Medicare beneficiaries will now be eligible for coverage for EpiFix® products.

“We have been persistent in executing our strategy to gain MAC coverage throughout the country,” said Parker H. Petit, Chairman and CEO. “With the additional coverage by CGS encompassing the states of Kentucky and Ohio, we have further expanded the opportunity for Medicare beneficiaries suffering from chronic wounds to have access to our clinically and cost effective allografts.”

CGS approved EpiFix® for both diabetic foot ulcers (DFUs) and venous leg ulcers (VLUs) that fail to respond to standard of care treatments. The approval was retroactively effective to November 1, 2013. Of the six MACs that cover EpiFix®, five cover both DFUs and VLUs.

Currently, two of the largest categories of chronic wounds are DFUs and VLUs.  A clinical study of over 300,000 wounds reported the median size of a DFU to be 1.35 cm2 and the median size of a VLU to be 2.32 cm2.  Widely used legacy skin substitute products are only offered in fixed sheet sizes of approximately 40 cm2, which leads to tremendous wastage in treating both DFUs and VLUs.

Bill Taylor, President and COO, stated, “Recently, the Centers for Medicare and Medicaid Services (CMS) announced a change in the way skin substitutes will be reimbursed beginning in 2014. The change bundles reimbursement for the cost of the product with the fee for the related surgical procedure.   The change incentivizes physicians to use more cost effective skin substitutes.  We supported the change and educated congressional members about the excessive wastage history in the skin substitute product area to encourage them to support the change as well.  We are pleased that the payers are embracing this cause and consistently adding our cost effective EpiFix® allografts to their coverage authorizations.”

“We look forward to continuing to provide our clinically and cost effective allograft, EpiFix®, for advanced wound healing.  By offering providers various sized product to more closely match actual wound sizes, EpiFix® allografts can eliminate unnecessary wastage of product compared to many other available skin substitute products,” added Petit.

About MiMedx
MiMedx® is an integrated developer, manufacturer and marketer of patent protected regenerative biomaterial products and bioimplants processed from human amniotic membrane. “Innovations in Regenerative Biomaterials” is the framework behind our mission to give physicians products and tissues to help the body heal itself. Our biomaterial platform technologies include AmnioFix® and EpiFix®, our tissue technologies processed from human amniotic membrane that is derived from donated placentas. Through our donor program, mothers delivering full-term Caesarean section births can elect in advance of delivery to donate the placenta in lieu of having it discarded as medical waste. We process the human amniotic membrane utilizing our proprietary PURION® process, to produce a safe and effective implant. MiMedx® is the leading supplier of amniotic tissue, having supplied over 200,000 allografts to date to distributors and OEMs for application in the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental sectors of healthcare.

Safe Harbor Statement
This press release includes statements that look forward in time or that express management’s beliefs, expectations or hopes.  Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements include, but are not limited to, the clinical and cost effectiveness of EpiFix®, the prospect of additional approvals from the remaining two Medicare Administrative Contractors and the opportunities presented by the CGS coverage determination. These statements are based on current information and belief, and are not guarantees of future performance.  Among the risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements include that the remaining two Medicare Administrative Contractors will not approve EpiFix® for reimbursement, that we will be unable to capitalize on the opportunity for expanded sales of our EpiFix® allografts, that EpiFix® will not perform as expected or will not gain acceptance in the medical community, and the risk factors detailed from time to time in the Company’s periodic Securities and Exchange Commission filings, including, without limitation, its 10-K filing for the fiscal year ended December 31, 2012, and the Company’s Forms 10-Q filed in 2013. By making these forward-looking statements, the Company does not undertake to update them in any manner except as may be required by the Company’s disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws.

Thursday, December 12th, 2013 Uncategorized Comments Off on (MDXG) Receives Additional Medicare Reimbursement Coverage for EpiFix®

(HOTR) Completes Acquisition of Just Fresh

Company Increases Stake in Just Fresh Restaurant Chain From 51% to 56%

CHARLOTTE, NC–(December 12, 2013) – Chanticleer Holdings, Inc. (NASDAQ: HOTR) (Chanticleer Holdings, or the “Company”), headquartered in Charlotte, North Carolina, announced today that the Company has completed its acquisition of a majority stake in Just Fresh Restaurant chain. On December 10, 2013, Chanticleer executed its Assignment, Assumption, Joinder and Amendment Agreements with JF Restaurants, LLC and JF Franchising Systems, LLC, owners of the Charlotte-based Just Fresh Restaurant chain. This transaction finalized the acquisition of a 51% preferred membership interest in both entities.

In addition to completing the acquisition, the Company executed an Assignment Agreement with a current owner, increasing its preferred membership interest in JF Restaurants, LLC and JF Franchising Systems, LLC by 5% to 56%.

First opened in 1994, the Just Fresh restaurant chain now operates 5 company-owned locations throughout North Carolina, offering fresh-squeezed juices, gourmet coffee, fresh-baked goods and premium-quality, made-to-order sandwiches, salads and soups. The Company believes in Just Fresh’s concept that a fresher, more nutritional diet can have positive effects on physical health and overall wellness. Together, both management teams plan to expand in this fast growing market segment, by reaching out to thousands of customers in new markets domestically and internationally.

Mike Pruitt, Chairman and Chief Executive Officer, commented, “We are excited to have completed the acquisition of Just Fresh and to have an opportunity to increase our interest in JF Restaurants. We have developed an expansion model that will enable us to grow the brand organically and consider franchising opportunities in both domestic and international markets.”

About Chanticleer Holdings, Inc
Chanticleer Holdings (NASDAQ: HOTR) is focused on expanding the Hooters® casual dining restaurant brand in international emerging markets and American Roadside Burgers Inc (“ARB”), a Charlotte, N.C. based chain. Chanticleer currently owns in whole or part of the exclusive franchise rights to develop and operate Hooters restaurants in South Africa, Hungary and parts of Brazil, and has joint ventured with the current Hooters franchisee in Australia, while evaluating several additional international opportunities. The Company currently owns and operates in whole or part of eight Hooters restaurants in its international franchise territories: Pretoria, Durban, Johannesburg, Cape Town and Emperor’s Palace in South Africa; Campbelltown in Australia; Budapest in Hungary; and Nottingham in the United Kingdom. ARB, purchased by Chanticleer Holdings on October 1, 2013, has a total of 5 casual restaurants — 1 location in Smithtown, N.Y., 2 locations in Charlotte, N.C., 1 location in Columbia, S.C., and the newest location is in Greenville, S.C. The Company also owns a majority interest in JF Restaurants, LLC and JF Franchising Systems, LLC, a fresh food-focused casual dining establishment with 5 restaurant locations.

For further information, please visit www.chanticleerholdings.com
Facebook: www.Facebook.com/ChanticleerHOTR
Twitter: http://Twitter.com/ChanticleerHOTR
Google+: https://plus.google.com/u/1/b/118048474114244335161/118048474114244335161/posts

Forward-Looking Statements:
Any statements that are not historical facts contained in this release are “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or required licenses, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the companies do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.

Press Information:
Chanticleer Holdings, Inc.
Mike Pruitt
Chairman/CEO
Phone: 704.366.5122 x 1
mp@chanticleerholdings.com

Thursday, December 12th, 2013 Uncategorized Comments Off on (HOTR) Completes Acquisition of Just Fresh

(LIVE) Announces Launch of livedeal.com in Los Angeles

LAS VEGAS, NV–(Dec 11, 2013) –

  • livedeal.com now has approximately 1,000 participating restaurants in initial launch city of San Diego, Calif., representing over 20% of the local market
  • Company to target large LA market of over 22,000 restaurants
  • Company plans to launch livedeal.com in four major U.S. cities by end of 2013

LiveDeal Inc. (NASDAQ: LIVE) (“LiveDeal” or the “Company”), a publicly traded company that operates livedeal.com, an innovative platform using geo-location to enable businesses to communicate real-time and instant offers to nearby consumers, today announced that the Company has launched livedeal.com in the Los Angeles market.

The expansion marks the second U.S. city where livedeal.com has launched, with the first being San Diego, Calif., in September 2013. The Company has been testing the livedeal.com platform in Los Angeles in recent weeks, and has signed up hundreds of participating locations as of today’s official launch. The Company intends to provide Los Angeles restaurants with the ability to control their own customized offers to customers via livedeal.com’s unique, real-time “deal engine.” According to recent U.S. Census information (2009), there are over 22,375 restaurants in Los Angeles County.

The Company believes it can cost-effectively expand into other cities due to the scalability of the livedeal.com platform, as restaurants can curate deals through LiveDeal’s account managers or create specials on their own. In addition, individual customers transact directly with the restaurant, eliminating the need for LiveDeal to act as an intermediary in the sale.

Jon Isaac, President and CEO of LiveDeal, stated, “We are pleased with the Company’s progress to date, and more importantly with the adoption rate and feedback from consumers and restaurants. We achieved an incredible response in our initial launch city of San Diego, with over 20% of restaurants in the city now participating. Though we have taken a very deliberate approach to our expansion, we are seeing better-than-expected results in return visitors, and larger restaurant chains are now providing LiveDeal with exclusive deals previously unavailable to the public. We believe all of this will continue to drive traffic to livedeal.com and create greater awareness as we build our brand.”

Mr. Isaac continued, “We feel we have created a model that makes sense in an industry reliant on real-time information. The daily consumer is interested in finding value, and equally important, restaurants are interested in a cost-effective, controlled method of increasing traffic and growing a loyal customer base at their restaurants. We believe livedeal.com is a one-of-a-kind solution in the marketplace. The Los Angeles market provides us with a great opportunity to expand our brand awareness and drive additional users to livedeal.com. We have continued to take an aggressive yet mindful approach to our roll-out. We recognize the need for scale to increase our value proposition to restaurants and feel that by selectively entering new markets we can bring more users to livedeal.com. We are currently testing in other U.S. cities and expect to have launched in four by the end of 2013, including San Diego and Los Angeles. Given the adoption rate in San Diego, we are optimistic about our potential success in Los Angeles.”

What is livedeal.com?
livedeal.com is a unique, real-time “deal engine” connecting merchants with consumers. The Company believes that it has developed a first-of-its-kind web/mobile platform providing restaurants with full control and flexibility to instantly publish customized offers whenever they wish to attract customers. The website includes a number of user and restaurant-friendly features, including:

  • an intuitive interface enabling restaurants to create limited-time offers and publish them immediately, or on a preset schedule that is fully customizable;
  • state-of-the-art scheduling technology giving restaurants the freedom to choose the days, times and duration of the offers, enabling them to create offers that entice consumers to visit their establishment during their slower periods;
  • advanced publishing options allowing restaurants to manage traffic by limiting the number of available vouchers to consumers;
  • superior geo-location technology allowing multi-location restaurants to segment offers by location, attracting customers to slower locations while eliminating potential over-crowding at busier sites; and
  • a user-friendly mobile and desktop web interface allowing consumers to easily browse, download, and instantly redeem “live” offers found on livedeal.com based on their location.

Restaurants can sign up to use the LiveDeal platform at the Company’s website (www.livedeal.com).

About LiveDeal Inc.
LiveDeal Inc. provides marketing solutions that boost customer awareness and merchant visibility on the Internet. LiveDeal operates a deal engine, which is a service that connects merchants and consumers via an innovative platform that uses geo-location, enabling businesses to communicate real-time and instant offers to nearby consumers. In November 2012, LiveDeal commenced the sale of marketing tools that help local businesses manage their online presence under the Company’s Velocity Local™ brand. LiveDeal continues to actively develop, revise, and evaluate these products and services and its marketing strategies and procedures. For more information, visit www.livedeal.com.

Forward-Looking and Cautionary Statements
This press release contains “forward-looking” statements that are based on present circumstances and on LiveDeal’s predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements, including any statements regarding the plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance, are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. Forward-looking statements are made only as of the date of this release and LiveDeal does not undertake and specifically declines any obligation to update any forward-looking statements. Readers should not place undue reliance on these forward-looking statements.

Contact:

Investor Relations
The Equity Group Inc.
Carolyne Yu
Senior Associate
(415) 568-2255
Email Contact

Adam Prior
Senior Vice President
(212) 836-9606
Email Contact

Wednesday, December 11th, 2013 Uncategorized Comments Off on (LIVE) Announces Launch of livedeal.com in Los Angeles

(VASC) Receives Shonin Approvals to Launch GuideLiner

  • Both devices also receive reimbursement designation from the Japanese Ministry of Health, Labour and Welfare
  • Japan Lifeline Co., Ltd., which supervised the regulatory and reimbursement submissions, will distribute both products in Japan
  • Sales in Japan of both devices expected to begin in January

MINNEAPOLIS, Dec. 11, 2013 — Vascular Solutions, Inc. (Nasdaq:VASC) today announced that two of its products, the GuideLiner guide extension catheter and the SuperCross FT microcatheter, have received Shonin approval from the Japanese Ministry of Health, Labour and Welfare (MHLW). The company expects sales of both devices in Japan to begin during January.

Both GuideLiner and SuperCross FT will be distributed in Japan by Vascular Solutions’ distribution partner, Japan Lifeline Co., Ltd., which supervised the pre-market regulatory review and reimbursement process with Japan’s MHLW. Both devices have also received reimbursement designation, with reimbursement in Japan expected to be effective January 1, 2014. Stocking shipments of both products to Japan Lifeline are expected in early January followed by full-scale commercial activity later that month.

“While Japanese approvals of both GuideLiner and SuperCross FT had been anticipated, the timeliness of these approvals and the solid reimbursement status that both devices have been accorded give us increased confidence that 2014 will be our 11th consecutive year of double-digit revenue growth,” said Howard Root, Chief Executive Officer of Vascular Solutions. “We are grateful to our partner, Japan Lifeline, for its dedication and hard work involved in securing the pre-market approval and reimbursement designation for GuideLiner and SuperCross FT.”

GuideLiner is a rapid exchange guide extension “mother-and-child” catheter that is designed to be used in conjunction with guide catheters to access discrete regions of the coronary and/or peripheral vasculature and to facilitate placement of interventional devices. GuideLiner received CE Mark and was launched in Europe in October of 2009 and received 510(k) clearance and was launched in the U.S. in November of 2009. “GuideLiner is already Vascular Solutions’ largest-selling product, and the approval in Japan will significantly expand the commercial potential for this important interventional device,” Mr. Root said. “The highly complex case load of procedures typically performed by interventional cardiologists in Japan makes GuideLiner an important addition to the device options available for challenging cases.”

SuperCross FT, the flexible-tip version of Vascular Solutions’ line of SuperCross microcatheters, was designed to address the majority of complex interventional procedures in which a flexible-tipped microcatheter is needed to provide superior deliverability over a guidewire in tortuous anatomy. SuperCross microcatheters are intended to be used in conjunction with steerable guidewires to access discrete regions of the coronary and/or peripheral vasculature. The devices may be used to facilitate placement and exchange of guidewires and other interventional devices and to subselectively infuse/deliver diagnostic and therapeutic agents. “We view our SuperCross FT as a workhorse microcatheter that is very useful in complex procedures,” stated Mr. Root. “We anticipate that SuperCross FT will be well-received by interventional cardiologists in Japan.”

About Vascular Solutions

Vascular Solutions, Inc. is an innovative medical device company that focuses on developing unique clinical solutions for coronary and peripheral vascular procedures. The company’s product line consists of more than 75 products in three categories: catheter products, hemostat products and vein products. Vascular Solutions delivers its products to interventional cardiologists, interventional radiologists, electrophysiologists, and vein specialists through its direct U.S. sales force and international independent distributor network.

The information in this press release contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements. Important factors that may cause such differences include those discussed in our Annual Report on Form 10-K for the year ended December 31, 2012 and other recent filings with the Securities and Exchange Commission. The risks and uncertainties include, without limitation, risks associated with the need for adoption of our new products, lack of sustained profitability, exposure to intellectual property claims, significant variability in quarterly results, exposure to possible product liability claims, the development of new products by others, doing business in international markets, the availability of third party reimbursement, and actions by the FDA.

For more information, connect to www.vasc.com.

About Japan Lifeline

Japan Lifeline Co., Ltd. develops, manufactures, and markets leading-edge cardiovascular-related medical devices. The sales network of the company covers all of Japan, and it has provided products of superior quality to medical institutions for more than 30 years. It focuses in the fields of cardiac rhythm management (CRM), electrophysiology/ablation, cardiac surgery (cardiovascular and endografting), and transvascular intervention. The company not only imports and distributes medical devices from overseas manufacturers to Japan, but also develops and manufactures its own EP catheters, ablation catheters, guide wires, and vascular prostheses.

For more information, connect to www.japanlifeline.com.

CONTACT: Vascular Solutions, Inc.
         James Hennen, CFO
         JHennen@vasc.com
         (763) 656-4352
         Phil Nalbone, VP-Corp. Dev.
         PNalbone@vasc.com
         (763) 656-4371
Wednesday, December 11th, 2013 Uncategorized Comments Off on (VASC) Receives Shonin Approvals to Launch GuideLiner
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