Archive for November, 2014
(SCON) Preparing for Commercial Production of Conductus Superconducting Wire
– New Conductus production machine operational –
– Strong customer demand for Conductus continues to outpace supply –
AUSTIN, Texas, Nov. 4, 2014 — Superconductor Technologies Inc. (Nasdaq:SCON) (“STI”), a world leader in the development and production of high temperature superconducting (HTS) materials and associated technologies, reported its one kilometer RCE system (RCE-1000) completed final assembly, meets all required design specifications and is operational. Now STI is focused on software testing and process development as it prepares to scale production for the commercial launch of Conductus® wire.
“With our RCE-1000, SDP and IBAD machines operational, we are positioned to produce Conductus wire on a commercial scale,” said Jeff Quiram, STI’s president and chief executive officer. “Previously, the limited capacity of our pilot equipment constrained our customers’ evaluation and qualification process. We are very excited we have the ability to increase Conductus supply, which will enable our customers to conclude testing in their electrical devices and initiate their production orders.”
“Our customer demand is increasing as the industry begins to focus on commercialization of superconducting products. We continue to strengthen relationships with existing customers as well as engage with new ones who initiated evaluation for the qualification of Conductus wire for use in their devices. During the third quarter of 2014, we shipped Conductus wire to four new and six existing customers. Of these ten customers, seven are in Stage 1 evaluation, including wire characterization and performance testing, and three are for Stage 2, involving significantly more rigorous testing to simulate devices for commercial deployment. The additional orders continue to outpace our supply, and the commercial RCE-1000 will alleviate this constraint as we ramp availability in late 2014 and beyond.”
Conductus® Superconducting Wire Manufacturing
To produce Conductus wire there are three key manufacturing processes:
(1) Solution Deposition Planarization (SDP) to smooth commercial-grade stainless steel or hastelloy substrate;
(2) Ion Beam Assisted Deposition (IBAD) to produce a template, allowing for the right surface conditions for the growth of superconducting material; and
(3) The proprietary Reactive Co-evaporation Cyclic Deposition and Reaction (RCE-CDR) of superconducting materials onto the manufactured template.
About Superconductor Technologies Inc. (STI)
Superconductor Technologies Inc., headquartered in Austin, TX, has been a world leader in HTS materials since 1987, developing more than 100 patents as well as proprietary trade secrets and manufacturing expertise. For more than a decade, STI has been providing innovative interference elimination and network enhancement solutions to the commercial wireless industry. The company is currently leveraging its key enabling technologies, including RF filtering, HTS materials and cryogenics to develop energy efficient, cost-effective and high performance second generation (2G) HTS wire for existing and emerging power applications, to develop applications for advanced RF wireless solutions and innovative adaptive filtering, and for government R&D. Superconductor Technologies Inc.’s common stock is listed on the NASDAQ Capital Market under the ticker symbol “SCON.” For more information about STI, please visit http://www.suptech.com.
Safe Harbor Statement
Statements in this press release regarding our business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors, which could cause actual results to differ materially from the forward-looking statements. These factors and uncertainties include, but are not limited to: the ability of our suppliers, who we do not control, to produce and deliver equipment on a timely basis; our ability to incorporate and fully assemble new equipment effectively and on time into our production processes; our ability to calibrate and use new equipment to produce wire in accordance with our timetable; our limited cash and a history of losses; the limited number of potential customers; the limited number of suppliers for some of our components and our HTS wire; there being no significant backlog from quarter to quarter; our market being characterized by rapidly advancing technology; overcoming technical challenges in attaining milestones to develop and manufacture commercial lengths of our HTS wire; customer acceptance of our HTS wire; fluctuations in product demand from quarter to quarter; the impact of competitive filter products, technologies and pricing; manufacturing capacity constraints and difficulties; our ability to raise sufficient capital to fund our operations (whether through registered direct offerings or otherwise), and the impact on our strategic wire initiative of any inability to raise such funds; the impact of any such financing activity on the level of our stock price, which may decline in connection with the sales under registered direct offerings or otherwise; the dilutive impact of any issuances of securities to raise capital; and local, regional, and national and international economic conditions and events and the impact they may have on us and our customers, such as the current worldwide recession.
Forward-looking statements can be affected by many other factors, including, those described in the “Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of STI’s Annual Report on Form 10-K for the year ended December 31, 2013 and in STI’s other public filings. These documents are available online at STI’s website, www.suptech.com, or through the SEC’s website, www.sec.gov. Forward-looking statements are based on information presently available to senior management, and STI has not assumed any duty to update any forward-looking statements.
CONTACT: Investor Relations Contact Cathy Mattison or Kirsten Chapman LHA +1-415-433-3777 invest@suptech.com
(QUIK) Announces Production with Samsung NX1 Compact System Camera
SUNNYVALE, CA–(Nov 4, 2014) –
- ArcticLink III BX CSSP provides Display Bridging for Samsung cameras
- QuickLogic CSSP solution now shipping
- Samsung NX1 is currently available worldwide
QuickLogic Corporation (NASDAQ: QUIK), the innovator of ultra-low power Customer Specific Standard Products (CSSPs), today announced that its ArcticLink® III BX display bridge solution platform has been chosen by Samsung Electronics Co., Ltd. to enable display bridging in the NX1 Compact System Camera (CSC).
The ArcticLink III BX platform, with its 15 silicon variants, was specifically architected to offer system designers a solution to bridge mismatched display standards. The platform features very low power consumption in a small 4.5 x 4.5mm package, making it easy for OEMs to integrate into their existing designs. The ArcticLink III BX is an ideal solution where differing display interface standards are implemented.
“One challenge of premium CSC design is the availability of high quality Electronic View Finders (EVFs) that are interface compatible with camera processors,” said Paul Karazuba, director of marketing and media at QuickLogic. “The use of the ArcticLink III BX device allows OEMs to choose from a large variety of readily available displays.”
The ArcticLink III BX solution and Samsung NX1 camera are available now.
Stay up to date with QuickLogic:
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About QuickLogic
QuickLogic Corporation is the inventor and pioneer of innovative, customizable semiconductor solutions for mobile and portable electronics OEMs and ODMs. These silicon plus software solutions are called Customer Specific Standard Products (CSSPs). CSSPs enable our customers to bring their products to market more quickly and remain in the market longer, with the low power, cost and size demanded by the mobile and portable electronics market. For more information about QuickLogic and CSSPs, visit www.quicklogic.com
QuickLogic and ArcticLink are registered trademarks and the QuickLogic logo is a trademark of QuickLogic Corporation. All other brands or trademarks are the property of their respective holders and should be treated as such.
Contact:
Andrea Vedanayagam
Veda Communications
408.656.4494
Email Contact
(VSR) Awarded $5.1 Million Chemical Splash Protective Suit Framework Contract
SPRINGFIELD, Va., Nov. 4, 2014 — Versar, Inc. (NYSE MKT: VSR) announced today that its wholly-owned subsidiary, VersarPPS, will supply the United Kingdom’s Department for International Development (DFID) with chemical splash protective suits. The contract is a single framework award valued at $5.1 million. VersarPPS will deliver the chemical splash protective suits over the next few months, and the contract is expected to be completed by the end of March 2015. These chemical splash protective suits will be distributed in support of the emergency response to the Ebola outbreak.
Tony Otten, CEO of Versar said, “We are proud to provide support to the Department for International Development. This award illustrates the valuable contributions of our emergency response manufacturing facility, VersarPPS.”
VERSAR, INC., headquartered in Springfield, Virginia, is a publicly-traded global project management company providing sustainable value oriented solutions to government and commercial clients in the construction management, environmental services, munitions response, and professional services market areas.
VERSAR operates the corporate web sites, www.versar.com, and www.versarpps.com, and www.jmwaller.com.
This news release contains forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described herein and in Versar’s Annual Report on Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended June 27, 2014, as updated from time to time in the Company’s periodic filings. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.
Contact: | David Gray | John Nesbett or Jennifer Belodeau |
Director of Financial Reporting | Institutional Marketing Services (IMS) | |
Versar, Inc. | (203) 972-9200 | |
(703) 642-6888 | jnesbett@institutionalms.com | |
dgray@versar.com |
(ININ) to Host “Improve Patient Engagement and Profitability” Industry Web Event
Interactive Intelligence Group Inc. (Nasdaq: ININ), a global provider of software and services designed to improve the customer experience, is hosting a free Web event titled, “Improve Patient Engagement and Profitability: Embrace Consumerism and New Technology,” to be held Tuesday, Nov. 11, 2014 at 11:30 a.m. Eastern time (EST).
This 75-minute webcast is designed for customer service, contact center, and sales operations executives in the healthcare industry looking for strategies that address the growing trend of consumerism – a movement that’s requiring improved patient interactions in order to meet elevated service expectations.
This webcast will teach attendees how to use contact center and business process automation (BPA) technologies, along with industry best practices to cost-effectively improve patient interactions.
Webcast presenters will include Bill Ramalho, chief information officer/chief technology officer for Fairfax Family Practice Centers and Virginia Surgery Associates, who will share his experience deploying contact center and BPA solutions to improve profitability, outreach, and patient engagement.
Also presenting will be Nancy Jamison, principal analyst of information and communications technologies for Frost & Sullivan, who will share how key technologies can be used to address common challenges healthcare organizations face today as they work to improve patient relationships.
Webcast presenter Rachel Wentink, senior director of the business automation group for Interactive Intelligence, will share additional customer use cases showing how healthcare providers have integrated their contact center solutions with electronic health record (EHR) systems to deliver more personalized and cost-effective patient outreach.
An extensive Q&A will follow the presentations, during which Ramalho, Jamison, and Wentink will answer live audience questions.
To register for this Web event, visit: http://www.inin.com/WebEvent.
About Interactive Intelligence
Interactive Intelligence Group Inc. (Nasdaq: ININ) is a global provider of software and services designed to improve the customer experience. The company’s 6,000-plus customers worldwide have benefitted from its cloud and on-premises solutions for contact center, unified communications, and business process automation. Interactive Intelligence is among Software Magazine’s 2014 Top 500 Global Software and Service Providers, and has received a Frost & Sullivan Company of the Year Award for the last five consecutive years. In addition, Glassdoor honored Interactive Intelligence with its 2014 Employees’ Choice Award as one of the Best Places to Work in the U.S., and Mashable ranked Interactive Intelligence second on its 2014 list of the Seven Best Tech Companies to Work For. The company was founded in 1994 and employs more than 2,000 people worldwide. Interactive Intelligence is headquartered in Indianapolis, Indiana and has offices throughout North America, Latin America, Europe, Middle East, Africa and Asia Pacific. It can be reached at +1 317.872.3000 or info@inin.com. Visit Interactive Intelligence on the Web at www.inin.com; on Twitter at www.inin.com/twitter; on Facebook at www.inin.com/facebook; or on LinkedIn at www.inin.com/linkedin.
Interactive Intelligence is the owner of the marks INTERACTIVE INTELLIGENCE, its associated LOGO and numerous other marks. All other trademarks mentioned in this document are the property of their respective owners.
ININ-G
Interactive Intelligence
Christine Holley, Senior Director of Market Communications, +1 317-715-8220
christine.holley@inin.com
(OVRL) Strengthens Enterprise Scale-Out Solution
VMware-Certified SnapScale(R) Clustered Data Storage, Featuring RAINcloud(R) OS 4.1 Software, Protects and Manages Data in Cloud and Distributed Enterprise Environments
SAN DIEGO, CA–(Nov 4, 2014) – Overland Storage®, Inc. (NASDAQ: OVRL), a trusted global provider of unified data management and data protection solutions across the data lifecycle, today announced the availability of RAINcloud OS 4.1, its newest enterprise software for the company’s market-proven SnapScale series of geographically-distributed, clustered scale-out data storage solutions that are optimized for cloud and distributed enterprise environments.
The Overland Storage RAINcloud OS 4.1 is the next major software release for SnapScale that includes software-defined storage services that intelligently and automatically execute operational data management and data protection operations without requiring manual intervention. With its self-provisioning, self-balancing and self-healing capabilities, SnapScale’s storage resources seamlessly grow and shrink based on user needs, and are distributed for optimal performance, and recovered or rebuilt without any downtime. The data mobility tools included in RAINcloud OS 4.1 enable customers to build private clouds for sharing and synchronizing data for anywhere, anytime access.
“For a government agency, we selected a SnapScale scale-out solution from Overland Storage over other clustered NAS offerings due to its simplicity, scalability and strength of clustering functionality for distributed deployments,” said Frank Scott, Sales Manager, Premier Systems Ltd. “It enabled our customer to consolidate data from several servers and individual workstations deployed on their campus to back up into a shared NAS storage repository. The distributed clustered architecture of RAINcloud OS kept the project within budget, by eliminating the need for any expensive clustering and data protection software that is typically added by competing offerings. I am confident that the SnapScale with RAINcloud OS solution will provide similar value to our other customers.”
Additionally, SnapScale enterprise storage products have completed the VMware certification process for interoperability with vSphere 5.1 and 5.5. in a VMware-virtualized infrastructure.
“We are pleased that Overland Storage’s SnapScale products qualify for the VMware Ready™ logo, signifying to customers that it has met specific VMware integration and interoperability standards and it works effectively with the VMware cloud infrastructure, which will speed time to value within customer environments,” said Sanjay Katyal, vice president, Global Alliances & OEMs, VMware.
The software-defined storage services in RAINcloud OS 4.1 deliver new customer benefits including:
Performance & Security Services:
- Server Message Block (SMB) 2.0 improves read and write performance for Windows clients and servers when accessing SnapServer storage.
- NFS version 4 provides performance enhancements and better security for UNIX users.
- Windows-only Tree improves Permission Handling and Authentication enabling Windows and UNIX/Mac users to easily share files in mixed environments.
- Lightweight Directory Access Protocol (LDAP) allows administrators to set permissions and specify access to directories through name lookup to and from a unique user identifier (UID).
Manageability & Availability Services:
- Highly-available with rolling updates provides 99.999% uptime with full system redundancy. After installing RAINcloud OS 4.1, future software versions automatically occur without requiring a cluster reboot or shut down.
- Performance monitoring with history allows administrators to run performance reports over specified time periods to optimize throughput and minimize network bottlenecks.
- VMware version vSphere 5.1 and 5.5 certification for NFS and iSCSI allows administrators to consolidate storage and run virtual machines on a SnapScale cluster.
Data Protection Services:
- Continuous Data Protection with High-Performance Snapshots enables more efficient capacity utilization, and offers up to 3x improvements in write performance.
- Create Private Cloud, Protect Data and Access it Anywhere. Enables customers to conveniently create their own private cloud without the hassle, risk and expense of a third-party cloud service.
“The SnapScale scale-out solution, with the new RAINcloud OS 4.1 software, delivers on our vision to provide a software-defined IT infrastructure that enables customers with rapid or unpredictable data growth to infinitely scale capacity and performance without adding management complexity, even in geographically-distributed IT environments,” said Nilesh Patel, Vice President of Product Management and Product Marketing at Overland Storage. “With tighter VMware integration, our partners and customers can confidently deploy SnapScale solutions for their virtualized infrastructures.”
Product Availability
The Overland Storage RAINcloud OS 4.1 software is available now for download by existing SnapScale customers and embedded in all new SnapScale units.
About SnapScale Series
Built on the Overland Storage RAINcloud OS technology, SnapScale eliminates islands of storage, enabling easy and affordable scaling without having to predict capacity in advance. Offering user-selectable levels of data redundancy, SnapScale writes data across multiple nodes and drives simultaneously for instant protection and high availability by ensuring no single point of failure ever exists. The SnapScale hardware architecture and “single pane of glass” management creates a consistent user experience while both managing the existing global namespace and scaling storage as needed without additional layers of administration.
About Overland Storage
Overland Storage is a trusted global provider of unified data management and data protection solutions across the data lifecycle. The Company delivers one of the most extensive and complementary product portfolios and service offerings in the industry. By providing an integrated range of technologies and services for primary, nearline, offline, and archival data storage, Overland Storage and Tandberg Data, a wholly-owned subsidiary of Overland, make it easy and cost-effective to manage different tiers of information over the data lifecycle, whether distributed data is across the hall or across the globe.
Overland Storage recently announced its proposed merger with Sphere 3D Corporation (NASDAQ: ANY) (TSX VENTURE: ANY). This alliance is intended to bring together next generation technologies for virtualization and cloud coupled with end-to-end scalable storage offerings designed to allow them to address the larger and growing virtualization and cloud markets. Overland Storage and Tandberg Data solutions are available through a select network of value-added resellers and system integrators. For more information, visit www.overlandstorage.com or www.tandbergdata.com.
Overland Storage, the Overland logo RAINcloud and SnapScale are trademarks of Overland Storage, Inc., and Tandberg Data is a trademark of Tandberg Data Holdings, S.à r.l. that may be registered in some jurisdictions. All other trademarks are the property of their respective owners.
VMware, VMware Ready and VMware vSphere are registered trademarks or trademarks of VMware, Inc. in the United States and other jurisdictions. The use of the word “partner” or “partnership” does not imply a legal partnership relationship between VMware and any other company.
Contact:
Pattie Adams
Director, Global Corporate Communications
+1 408/283-4779
padams@overlandstorage.com
(JIVE) Announces Tony Zingale’s Retirement as CEO, New Role as Executive Chairman
Elisa Steele Promoted to President, and Appointed to ‘Office of CEO’ by Board of Directors Alongside Bill Lanfri, Independent Board Director
PALO ALTO, Calif., Nov. 4, 2014 — Jive Software, Inc. (Nasdaq:JIVE) today announced that Tony Zingale has decided to retire after almost five years as CEO. Zingale has served on Jive’s Board of Directors since 2007, was appointed CEO in 2010 and became Chairman in 2011. He will remain on the Board, and assume a new position as Executive Chairman focused primarily on strategic customer and partner relationships.
The company also announced the promotion of Elisa Steele, Executive Vice President of Marketing and Products, to President effective November 10, 2014. While a CEO search is underway, the Board has also appointed Steele to a newly created ‘Office of the CEO’ role effective November 10 – with responsibility for overseeing the day-to-day operations of the company until a new CEO is named – alongside independent board director Bill Lanfri, a member of Jive’s Board since 2008 with a 30-year leadership tenure in the enterprise networking and telecommunications markets.
Steele joined Jive in January 2014 as Chief Marketing Officer, with a subsequent promotion to Executive Vice President of Marketing and Products. Her background includes executive management roles at Microsoft, Skype, Yahoo! and NetApp.
“Jive’s market opportunity is big, and our time is now,” said Elisa Steele, President of Jive. “The industry has never been so ready for the enterprise collaboration solutions we provide. In close partnership with Jive’s world-class Board of Directors, I’m excited to help lead Jive to even greater success. I want to thank Tony for his leadership and guidance, and look forward to continuing our successful partnership in his new role.”
“I’m so proud of what we’ve achieved over the past five years, in which Jive has cemented its leadership position in the competitive and growing enterprise collaboration market,” said Zingale. “I especially want to thank our dedicated employees and customers around the world. I look forward to continuing on this journey with you, and helping to guide the company as Executive Chairman.”
“As a board member since 2007, I’ve seen Jive create the social business market and then continuously disrupt the industry with its market-leading innovations. Under Tony’s leadership, Jive has built the most comprehensive communication and collaboration platform in the market,” said Jim Goetz, Partner at Sequoia Capital and member of Jive’s Board. “I want to thank Tony for his leadership and for his many significant achievements as CEO – including taking the company public, acquiring a premier customer base and growing revenue 6x. I also want to congratulate Elisa on her well-deserved promotion to President and her exceptional contributions to Jive.”
This leadership transition is the result of a comprehensive management succession process led by the Board. The Board has retained Russell Reynolds Associates to conduct an executive search for Jive’s new CEO, and both internal and external candidates will be considered.
About Jive Software
Jive (Nasdaq:JIVE) is the leading provider of modern communication and collaboration solutions for business. Recognized as a leader by the industry’s top analyst firms in multiple categories, Jive enables employees, partners and customers to work better together. More information can be found at www.jivesoftware.com.
CONTACT: Investor Contact: Brian Denyeau ICR (646) 277-1251 brian.denyeau@icrinc.com Media Contact: Jason Khoury Jive Software (650) 847-8308 jason.khoury@jivesoftware.com
(ABAT) Announces Plans to Become Fully Reporting
Retains Paritz & Company, P.A. as Independent Auditor
NEW YORK, NY and BEIJING, CHINA–(November 03, 2014) – Advanced Battery Technologies, Inc. (PINKSHEETS: ABAT), specializing in the design, manufacture and distribution of eco-friendly rechargeable batteries and related light electric vehicle products, has retained Paritz & Company, P.A. as its independent auditor to audit the Company’s financial statements for the years ended December 31, 2011, 2012, 2013 and 2014.
Mr. Zhiguo Fu, Chairman and CEO of Advanced Battery Technologies, commented, “We are pleased to retain Paritz & Company, P.A. to audit the financial statements from 2011 to 2014 and we are determined to become fully compliant with SEC reporting rules. While our Company’s stock performance has been disappointing in the past 3 years given the capital market conditions, we have never stopped developing product-related technologies, innovating new products and growing our operations during that time. Our Company is focused on enhancing shareholder value and building a sustainable eco-friendly battery business. We are excited and optimistic about our Company’s growth prospects. We will start to communicate with the investment community with more frequency and we look forward to reporting solid operational and financial results to our shareholders.”
About Advanced Battery Technologies, Inc.
Advanced Battery Technologies, Inc. (ABAT), a Delaware corporation with executive office in Beijing, China is committed to the clean energy industry. With three manufacturing subsidiaries in Harbin, Wuxi and Dongguan, China, ABAT engages in the design, manufacture, marketing and distribution of rechargeable polymer lithium-ion (PLI) batteries and related Light Electric Vehicles (LEV’s) products. Additional information about the Company is available at: http://abat.sys145.pkulab.com/a/english/
This news release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company’s actual results to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, risks that the demand for the Company’s electric vehicles may be limited. We undertake no obligation to revise or update publicly any forward-looking statements.
Contact:
Crescendo Communications, LLC
Tel: +1-212-671-1020
e-mail: abat@crescendo-ir.com
(SCRI) Acquires Steel Media, Secures $25 Million in Financing
Combined Companies Enhance Real-Time Bidding Exchange and Expand Digital Advertising SSP and DSP Offerings
LOS ANGELES, Nov. 3, 2014 — Social Reality, Inc. (OTCBB: SCRI), a leader in automated digital platform technology and social management software for Internet advertising, announced today the acquisition of Steel Media, a privately held company with $10 million in expected 2014 revenues and a 14-year track record of providing display, mobile, video and email advertising inventory to top consumer brands and ad agencies.
Social Reality also announced $25 million in committed financing – a $20 million credit facility provided by Victory Park Capital, a Chicago-based asset management firm focused on middle market debt and equity investments, and $5 million of new equity financing provided by Siskey Capital, LLC and other existing investors. Social Reality utilized a portion of the credit facility, together with the new equity in order to fund the acquisition of Steel Media, continue expansion of Social Reality’s SSP (supply-side platform) and DSP (demand side platform) offerings sold through its proprietary real-time bidding (RTB) exchange, and to provide a strong capital base for growth, working capital and general corporate purposes. Steel Media leadership has joined Social Reality as an integral part of the newly combined entity; Richard Steel has been named President, and Chad Holsinger will serve as Chief Revenue Officer of Social Reality. Social Reality’s CEO and Co-founder, Christopher Miglino, will continue to lead the company and will run the combined businesses.
“This strategic acquisition of Steel Media is an excellent fit for Social Reality, creating a powerful force in the digital advertising space. Together, our companies offer superior performance and technology for social data and Internet ad buy-and-sell solutions, delivered to agencies and brands by a seasoned and skilled digital sales team. The combined expertise of our two companies will further enhance the quality of our industry-leading technology and service, with faster delivery for our customers. We welcome the Steel Media team to Social Reality, and we look forward to executing on our combined strategic vision,” said Miglino. “We appreciate the tremendous support from Victory Park Capital as our new strategic financing partner, as well as that of our new and long-term financial partners, and we look forward to their contributions as we continue to grow our business. With the enhanced revenues and positive operating cash flow from this acquisition, combined with increased leverage and ability to reach into new markets, Social Reality is well-positioned for long-term growth.”
“Our team is excited to combine forces with Social Reality. Their SRAX technology platform is the go-to digital ad exchange in the industry. Expanding Steel Media’s product offerings for our customers will drive growth within the combined business,” said Steel. “We’re ready to make our mark, providing digital media solutions that are best-in-class, best-in-reach and best-in-speed. Our combined company now has strengths that span the complete digital spectrum.”
The company’s Social Reality Ad Exchange (SRAX) is an SSP that was launched in early 2013 in order to connect online publishers with demand partners and buyers through advanced programmatic technology and RTB integration. The SRAX platform has gained the reputation for making buying and selling of display, video, mobile and in-app advertising an easier and more efficient experience than other digital ad technologies. Its proprietary RTB management platform integrates social information to optimize client results from the DSP and SSP offerings. Social Reality’s GroupAd product offering is a complementary social management and tracking software focused on delivering brand advocacy and customer loyalty via an integrated dashboard, to launch, distribute and optimize social and digital media campaigns.
T.R. Winston & Company, LLC served as exclusive financial advisor to Social Reality in the acquisition of Steel Media, was sole lead arranger for the term loan financing, and served as agent for the equity financing. Social Reality’s legal advisors were Sidley Austin LLP and Pearlman Schneider LLP. Steel Media’s financial advisor for the transaction was Petsky Prunier Securities and its legal advisor was Lowenstein Sandler LLP. Victory Park Capital’s legal advisor was Katten Muchin Rosenman LLP.
About Social Reality
Founded in 2010, Los Angeles-based Social Reality, Inc. is an Internet advertising company that provides tools that automate the digital advertising market. The company has built technologies and leveraged partner technologies that service social media and the real-time bidding (RTB) markets. For more information, please visit www.socialreality.com www.srax.com www.groupad.com
About Steel Media
Founded in 1999, Steel Media provides digital ad inventory to all top ten ad agencies, by billing, in the U.S., along with 30 of the Fortune 100 companies, all of whom rely on Steel Media for digital advertising needs. Steel Media provides display, mobile, video and email ad inventory to both brands and ad agencies. The company has technologies in place to dramatically optimize online display, mobile, email and video campaigns in order to increase the effectiveness of client’s ad spends. Steel Media provides brands and ad agencies the ability to deploy, manage, and measure all their digital advertising campaigns in one place. For more information, please visit www.steelmediainc.com.
About Victory Park Capital
Victory Park Capital (VPC) is a privately held registered investment advisor dedicated to alternative investing through the management of private investment funds. As specialists in credit and private equity investments, VPC focuses on middle market companies across a diversified range of industries. Whether as a lender or a control investor, VPC seeks to identify opportunities where it believes the potential for reward outweighs the risks entailed. Founded in 2007, VPC is headquartered in Chicago with additional resources in Los Angeles, New York, San Francisco, Boston and London.
About Siskey Capital LLC
Siskey Capital LLC, is a private merchant bank based in Charlotte, North Carolina. The firm acts as financial partners in assisting emerging companies accomplish their near to long-term goals. Siskey Capital’s participation in any opportunity is primarily partnership driven, using its own capital, while providing extensive financial, structural, growth and risk management expertise. Its founders and principals are strong goal oriented experts that have over three decades of successful merchant banking, venture capital, international business and entrepreneurial backgrounds.
Forward-Looking Statements
This press release contains forward-looking statements. Any statements contained herein which do not describe historical facts, including but not limited to, statements regarding: (i) our business; (ii) the transaction with Steel Media, including expected benefits, opportunities, synergies, financing, results and the impact on revenue, adjusted operating earnings, EBITDA, shareholder value, and the impact on our financial profile; (iii) expectations about the combined company; (iv) SCRI’s intentions to provide further guidance and its intention to name the current Steel Media executives who will be joining SCRI’s leadership team; (v) expectations for the Steel Media commercial platform and our entry into a segment important for future growth; (vi) our belief that this is a transformative transaction that propels us into a profitable, multi-product company positioned for continued revenue, and operating income growth, further diversification and shareholder value creation; (vii) expectations regarding future acquisitions; (viii) beliefs about the commercial platform and the strategic fit of Steel Media; (ix) our plans to expand our portfolio through the in-license or purchase of additional products or companies; and (x) our goal of bringing to the market services and products that provide clear benefits and improve our customers’ businesses, are forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Statements about SCRI’s or Steel Media’s past financial results do not, and are not meant to, predict future results. Social Reality can provide no assurance that such results and performance will continue.
Risks and uncertainties include, among others: (1) the possibility that we may not realize the expected benefits, synergies and opportunities anticipated in connection with the transaction, including the anticipated revenue and cost synergies, and continuing revenue growth, (2) the challenges of integrating the Steel Media commercial team with Social Reality, (3) the impact on sales from competitive pricing, and sales and marketing initiatives, (4) liabilities we assume from Steel Media that may be higher than expected, (5) the possibility that sales will not meet expectations as a result of current and future competition, (6) in connection with the Steel Media acquisition, we will incur a substantial amount of indebtedness and will have to comply with restrictive and affirmative debt covenants, (7) the expectation that we will need to raise additional capital from the sale of our common stock, which will cause significant dilution to our stockholders, in order to satisfy our contractual obligations, including our debt service, earn out payments that may become payable to Steel Media’s stockholder or in order to pursue business development activities, (8) due to the Steel Media transaction, we will be highly leveraged and have limited cash and cash equivalent resources which may limit our ability to take advantage of attractive business development opportunities and execute on our strategic plan, (9) our ability to execute on our long-term strategic plan or to realize the expected results from our long-term strategic plan, (10) our patents and proprietary rights both in the U.S. and outside the U.S. (including those that we acquire from the acquisition of Steel Media), (11) other risks identified in our filings with the U.S. Securities and Exchange Commission (SEC), including our Quarterly Report on Form 10-Q and subsequent filings with the SEC. Any of the above risks and uncertainties could materially and adversely affect our results of operations, our profitability and our cash flows, which would, in turn, have a significant and adverse impact on our stock price. Use of the term “including” in the two paragraphs above shall mean in each case “including, but not limited to.” We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made.
We disclaim any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
(RBCC) 3D Bioprinting Technology Developed by RBCC Partner n3D
A Texas Medical Center research team has made a stunning breakthrough in breast cancer research using revolutionary 3D bioprinting technology being marketed and developed by Nano3D Biosciences (n3D), a joint venture partner of Rainbow Coral Corp. (OTCBB:RBCC).
Researchers were able to create a better in vitro model of breast cancer by magnetically levitating cells using n3D’s Bio-Assembler, part of the world’s first commercially available 3D bioprinting system designed for high throughput and high-content drug screening. By magnetically levitating cell cultures, the research team was able to replicate in vitro the cell heterogeneity of the tumor microenvironment.
“These results signify a crucial breakthrough in studying cancer cells outside the body and developing new treatments. We at n3D are very proud that the Bio-Assembler, a technology we developed, is being used in critical research such as this important study,” said Dr. Glauco Souza, n3D president and chief science officer, and a co-author of the study, which was published in Scientific Reports, a top 5 multidisciplinary science primary research journal.
In the study, entitled “Three Dimensional In Vitro Co-Culture Model of Breast Tumor Using Magnetic Levitation,” research data suggests “that the proposed 3D in vitro breast tumor is advantageous due to the ability to: (1) form large-sized (millimeter in diameter) breast tumor models within 24 h; (2) control tumor cell composition and density; (3) accurately mimic the in vivo tumor microenvironment; and (4) test drug efficiency in an in vitro model that is comparable to in vivo tumors.”
For months, RBCC and n3D have been focused on raising millions of dollars to further market and develop 3D bioprinting technology around the globe.
“The Bio-Assembler uses biocompatible magnetic nanoparticles to levitate cells, allowing them to grow into 3D structures much faster, easier and more affordably than competing technology currently on the market,” said RBCC CEO Kimberly Palmer. “This cutting-edge study by the team in Texas perfectly shows why the Bio-Assembler is a technology coveted by leading scientists across a variety of disciplines and beautifully illustrates how it’s pushing cellular research forward.”
READ MORE ABOUT THE STUDY: http://www.nature.com/srep/2014/141001/srep06468/full/srep06468.html
VIEW FIGURES AND IMAGES: http://www.nature.com/srep/2014/141001/srep06468/fig_tab/srep06468_ft.html
About Rainbow Biosciences
Rainbow Biosciences, LLC, a wholly owned biotech subsidiary of Rainbow Coral Corp. (OTCBB:RBCC), was formed to deliver new medical and research technology innovations to a global marketplace in order to compete alongside companies such as Biogen Idec Inc. (NASDAQ:BIIB), Abbott Laboratories (NYSE:ABT) and Amgen Inc. (NASDAQ:AMGN). The Company continually seeks out new partnerships with biotechnology developers to deliver profitable new medical technologies and innovations. In 2012, Rainbow Biosciences acquired an equity interest in n3D. For more information on our growth-oriented business initiatives, please visit www.RainbowBioSciences.com. For investment information and performance data on the Company, please visit www.RainbowBioSciences.com/investors.html.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.
(TWSI) Awarded Hemostasis and Compression Products Agreement With Premier
WESTPORT, Conn., Nov. 3, 2014 — HemCon Medical Technologies, Inc. (“HemCon”), a wholly owned subsidiary of TriStar Wellness Solutions(R), Inc. (OTCQB: TWSI) and a leading developer and marketer of advanced medical products, announced today that the company has been awarded a group purchasing agreement for Hemostasis and Compression Products with Premier, Inc. effective November 1, 2014. The new agreement (PP-CA-248) allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for the entire line of HemCon hemostatic products, including products such as the HemCon Patch® PRO, ideal for bleeding control following heart catheterizations, ChitoGauze® PRO for traumatic injuries and GuardaCare®XR Surgical, a must have tool for controlling bleeding and maintaining surgical field visibility in the operating room.
“HemCon is pleased to be included as a contracted supplier for Premier. Our company is committed to creating new healthcare products that drive improved patient safety and better clinical results across the continuum of care. We’re excited that Premier will make our proprietary hemostatic products available to their members and support them in their efforts of improving patient care,” said HemCon Chief Executive Officer and President, Michael Wax.
HemCon offers a comprehensive line of hemostatic products with a proven track record that quickly control all levels of bleeding. HemCon’s proprietary chitosan technology provides a cost-effective hemostatic solution to treat low to heavy arterial bleeding, while also providing antibacterial properties. HemCon’s ability to stop bleeding at all levels of the continuum of care allows hospitals to add efficiencies to their normal practices as well as greatly reducing everyday expenses, while improving patient outcomes.
About Premier, Inc.
Premier, Inc. is a leading healthcare improvement company, uniting an alliance of approximately 3,000 U.S. hospitals and 110,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and advisory and other services, Premier enables better care and outcomes at a lower cost. Premier, a Malcolm Baldrige National Quality Award recipient, plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier’s news and investor sites on www.premierinc.com; as well as Twitter, Facebook, LinkedIn, YouTube, Instagram, Foursquare and Premier’s blog for more information about the company.
About HemCon Medical Technologies, Inc.
HemCon Medical Technologies Inc., is a wholly owned subsidiary of TriStar Wellness Solutions®, Inc. (OTCQB: TWSI). HemCon is a developer, manufacturer, and marketer of proprietary technologies for hemostatic devices for the control of bleeding resulting from trauma or surgery. HemCon was founded in 2001 and since then has been a supplier of medical devices to the military, emergency medical and law enforcement communities. This year the company received endorsement from the Tactical Combat Casualty Care (TCCC) and is an approved supplier of bandages and hemostatic devices to government agencies and allied militaries around the world. The company this year also launched a sales force dedicated to serving the hospital and clinical markets. Additional information is available at www.hemcon.com.
About TriStar Wellness Solutions
TriStar Wellness Solutions®, Inc. (OTCQB: TWSI) is a health and wellness company that targets under-met opportunities in the OTC and professional marketplace. TriStar is the owner of HemCon Medical Technologies Inc., a company dedicated to saving lives through innovative wound care solutions. It also owns the Beaute de Maman™ brand of women’s health products. Additional information is available at www.tstarwellness.com and www.beautedemaman.com.
Forward-Looking Statement
This press release for TriStar Wellness Solutions®, Inc. contains forward-looking statements. Generally, you can identify these statements because they use words like “anticipates,” “believes,” “expects,” “future,” “intends,” “plans,” and similar terms. These statements reflect only our current expectations. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy and actual results may differ materially from those we anticipated due to a number of uncertainties, many of which are unforeseen, including, among others, the risks we face as described our filings with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements that apply only as of the date of this press release. To the extent that such statements are not recitations of historical fact, such statements constitute forward-looking statements that, by definition, involve risks and uncertainties. In any forward-looking statement where we express an expectation or belief as to future results or events, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement of expectation of belief will be accomplished.
Website: http://www.tstarwellness.com
CONTACT:
Simona Buergi
Tel: (503) 245-0459
simona.buergi@hemcon.com
(IEGH) Corporation Chairman, Announces Record Mr. Amazing Loans
IEGH Breaks All Previous US Loan Volume Records With $1.05 Million of New Loans for Month of October
LAS VEGAS, NV– (November 03, 2014) – IEG Holdings Corp. (PINKSHEETS: IEGH), announced a new record high for monthly loan volume of $1,048,005 in October up 2520% from $40,000 in January. Since launching online lending in July 2013, cumulative loan volume has increased by 1714% from $237,000 to $4,299,020. The rapid loan volume growth is being driven by leading online lending website www.mramazingloans.com, new joint venture arrangements with low acquisition cost lead sources and continued state license expansion.
Paul Mathieson, Chairman/CEO and Founder of IEG Holdings Corporation stated “We are pleased to have set new loan volume records in October and look forward to loan volume growth accelerating further post the closing of our new $100m debt facility and the approval of additional state licenses. Our near term monthly loan volume target is $3 million per month driven predominantly by continued state expansion and also by new online lead sources. We are also pleased to have secured our first Institutional Investor which is a strong endorsement of both the success of IEGH to date and our future growth strategy.”
First IEGH Institutional Investor
IEGH is pleased to announce that it has secured an investment by its first Institutional Investor — Cape One Master Fund II in both IEGH Common Stock and Series F 12% yielding Convertible Preferred Shares. Cape One is New York based and focused on investing in structured investments of publicly traded companies. These investments take the form of debt, convertible debentures, common and preferred stock.
Make sure you are first to receive timely information on IEG Holdings when it hits the newswire by signing up for IEG Holdings’ email news alert system at http://www.investmentevolution.com/alerts.
About IEG Holdings Corp.
IEG Holdings Corporation (PINKSHEETS: IEGH) provides unsecured consumer loans under the brand name “Mr. Amazing Loans” via its website www.mramazingloans.com. After lending approximately $48 million to over 11,500 borrowers in Australia, the Company Founder and Chairman/CEO Paul Mathieson moved to the U.S. market in 2008 to replicate the successful business model. IEGH now operates online in the USA covering the 8 U.S. states of Nevada, Arizona, Illinois, Florida, Georgia, Missouri, Virginia and New Jersey. IEGH is rapidly expanding and plans to offer loans in 25 states covering approximately 250 million people equating to 80% of the US population by early 2015. The Company launched advertising for its online loan origination platform in mid-2013, partnering with top lead generators in the United States. The Company offers loans of $5,000 or $10,000 over a term of five years with a 19.9% to 29.9% APR. Significant growth is expected from the online loan origination business, which is scaling much more rapidly and at a higher net margin than the previous brick-and-mortar business. IEGH intends to up-list to NASDAQ in April 2015. For more information about the Company, visit www.investmentevolution.com.
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. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Image Available: http://www.marketwire.com/library/MwGo/2014/11/3/11G025303/Images/Loan_Volume-751134429318.jpg
Contact:
Paul Mathieson
IEGH Chairman/CEO and Founder
info@investmentevolution.com
+1-702-227-5626
(MSPCD) Announces 500-to-1 Reverse Stock Split
MIAMI, FL, United States, via ETELIGIS INC., 11/03/2014 – – Metrospaces, Inc. (OTC Pink: MSPCD) (PINKSHEETS: MSPCD), announces the approval of a 500-to-1 reverse stock split.
Mr. Brito stated, Even though our company has evolved in just 2 years from a developer of small residential real estate projects to a mid-sized hotel developer, our stock price has not reflected it. Additionally, we have sold for a profit our first 2 projects; cash flow that is now being deployed for planning approval for the Tulasir Spa and Hotel and the Orinoco Oil Belt Business Hotel. However, due to our low stock price, it has been difficult to attract long term investors that will support our capital stock. We are very optimistic that this decision will help our company attract the sort of long term investors we know our company can. As we focus our resources on hotel development, we provide a US-based investment vehicle for investors looking for outsized returns by investing in emerging market hotel development deals. Additionally, we are certain to create additional shareholder value by creating one of the first boutique hotel chains in the region. With the JV hotel development agreement we executed with Prohotels (Argentina) we have put in place the right human resources to develop a world-class boutique hotel brand/concept. This agreement calls for the development of 4 hotels in the next 3 years, something we feel very optimistic to accomplish.
For a link to our 2 hotel projects currently underway:
About Metrospaces
Metrospaces www.metrospaces.net is a publicly traded real estate investment and Development Company which acquires land, designs, builds, and develops then resells condominiums and Luxury High-End Hotels, principally in urban areas of Latin America. The companys current projects are located in Buenos Aires, Argentina, and Caracas, Venezuela.
Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their world-wide network of highly recognized real estate entrepreneurs, the company was able to capitalize on unique real estate development opportunities. Since Inception the company has leveraged those relationships along with extensive financial expertise and transformed excellence by results.
Metrospaces is a boutique real estate development company, a product of the alliance of Metrospace shareholders, along with an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the Americas and across Europe valued in excess of US $350Million.
Metrospaces majority shareholders has partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel, and is currently involved in negotiations for the development of several Elite luxury properties in South America.
Among Metrospace partners are Architects, Real Estate Developers, Agents and Attorneys of the highest standing, with extensive experience in the global property market.
Metrospaces was originally founded by company President Oscar Brito.
Relevant Links:
Safe Harbor Statement:
Statements in this news release may be forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Metrospaces Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
CONTACT:
Metrospaces, Inc.
Tel: 305-600-0407
Investor Relations:
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