Venaxis (APPY) Pivotal U.S. Study – EU Market Development for Blood-based Appendicitis Test

CASTLE ROCK, Colo., March 26, 2013 /PRNewswire/ — Venaxis, Inc. (Nasdaq: APPY), an in vitro diagnostic company focused on obtaining FDA clearance and commercializing its rapid, protein biomarker-based appendicitis test, APPY1, today provided an update on its clinical and commercial activities.  The Company continues to enroll patients into its ongoing pivotal U.S. clinical study of APPY1, as well as make strong progress on its European market development initiatives.

Steve Lundy, Chief Executive Officer of Venaxis, commented, “We identified a number of significant milestones for 2013 and during the recent months have begun achieving them, including initiation of our pivotal study for APPY1, which we anticipate, upon completion, will support filing for regulatory clearance with the FDA.  We also obtained CE Marking for APPY1, and we commenced an initial launch of the product for market development purposes in Europe.  As we expected, 2013 has been characterized so far by continued progress on these critical initiatives.  We are encouraged by our successful execution to date and we plan to remain focused and diligent so that we can reach the important milestones to come.”

Enrollment into the APPY1 pivotal U.S. clinical study is expected to continue across the 28 participating hospital sites throughout much of 2013.  Based on current projections, the Company anticipates completing the study and potentially filing with the FDA for regulatory clearance of APPY1 by year end 2013.

Following CE Marking of APPY1 in January, Venaxis successfully executed market development agreements with MOSS S.p.A., which is based near Milan, to cover Italy; Istanbul-based SAVAS Medikal Inc. to cover hospitals in Turkey; and Netherlands-based EMELCA Bioscience, covering hospitals in the Benelux countries.  Pursuant to these agreements, strategic market development activities have commenced those regions and Venaxis anticipates announcing additional agreements in the near term that cover the additional targeted EU territories.

The Company also strengthened its balance sheet with an underwritten public offering in late 2012, for which Venaxis received approximately $4.7 million in total gross proceeds, including full exercise of the underwriter’s over-allotment option.  The Company ended the year with $12.1 million in cash, cash equivalents and short-term investments, which Venaxis believes is sufficient to complete the ongoing U.S. pivotal trial, as well as advance the market development activities in Europe.

Mr. Lundy concluded, “We have emerged successfully from 2012 as a pure-play in vitro diagnostics company with sufficient capital to advance our new and innovative diagnostic product that we believe fulfills an important need in the emergency care market.  As study enrollment continues to ramp in the U.S. and we continue to gain traction and gather market intelligence in Europe, we look forward to providing timely updates on our key achievements.”

Conference Call Information
The Company has scheduled its quarterly conference call and webcast for today, March 26, 2013, at 4:30 p.m. ET.  Interested participants and investors may access the conference call by dialing 1-800-860-2442 (U.S.), 1-866-605-3852 (Canada) or 1-412-858-4600 (international).  A live audio webcast will be accessible via the Investor Relations section of the Venaxis web site, ir.venaxis.com.

A telephonic replay of the call will be available for 30 days beginning at 8:00 p.m. ET on March 26, 2013.  Access numbers for this replay are 1-877-344-7529 (U.S./Canada) and 1-412-317-0088 (international); conference ID: 10026445.  The webcast replay will remain available in the Investors Relations section of the Venaxis web site for 30 days.

About Venaxis, Inc.
Venaxis, Inc. is an in vitro diagnostic company focused on the clinical development and commercialization of its rapid, protein biomarker-based appendicitis test, APPY1.  This unique appendicitis test has projected high sensitivity and negative predictive value and is being developed to aid in the identification of patients at low risk for acute appendicitis, allowing for more conservative patient management.  APPY1 is CE Marked in Europe and is being developed in the U.S. initially for pediatric, adolescent and young adult patients with abdominal pain, as this population is at the highest risk for appendicitis and has the highest risk of long-term health effects associated with CT imaging.  While FDA clearance is being sought, an initial launch for APPY1 is ongoing in select European territories.  For more information, visit www.venaxis.com.

Forward-Looking Statements
This press release includes “forward-looking statements” of Venaxis, Inc. (“Venaxis”) as defined by the Securities and Exchange Commission (“SEC”). All statements, other than statements of historical fact, included in this press release that address activities, events or developments that Venaxis believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors Venaxis believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Venaxis. Investors are cautioned that any such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors, including our ability to successfully complete required product development and modifications in a timely and cost effective manner, complete clinical trial activities for APPY1 required for FDA submission, obtain FDA clearance or approval, maintain CE Marking, cost effectively manufacture and generate revenues from APPY1 at a profitable price point, execute agreements required to successfully advance the company’s objectives, retain the management team to advance the products, overcome adverse changes in market conditions and the regulatory environment, obtain and enforce intellectual property rights, and realize value of intangible assets. Furthermore, Venaxis does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the risk factors contained in Venaxis’ recent filings with the SEC, including its Form 10-K for the year ended December 31, 2012, filed on March 26, 2013.

For Investors and Media:
Tiberend Strategic Advisors, Inc.
Joshua Drumm, PhD
jdrumm@tiberend.com; (212) 375-2664
Jason Rando
jrando@tiberend.com; (212) 375-2665

PokerTek (PTEK) and Carnival Corporation & plc Enter into 5-Year Contract

MATTHEWS, N.C., March 26, 2013 /PRNewswire/ — PokerTek, Inc. (Nasdaq: PTEK) today announced the Company has renewed its contract with Carnival Corporation & plc through December 2017.

“Carnival Corporation & plc has been a great business partner over the past 6 years, and we are pleased to renew and extend our relationship with the world’s largest cruise operator,” said Mark Roberson, PokerTek’s Chief Executive Officer.

“We look forward to providing passengers aboard Carnival Cruise Lines, Holland America Line, Princess Cruises, Costa Cruises, Cunard and P&O Cruises with exceptional gaming experiences for many years to come.”

“We have enjoyed a fruitful business partnership with PokerTek over the last several years and look forward to continuing to build on this success,” said Paul Jarvis, Vice President of Casino Operations for Carnival Corporation & plc.

About Carnival Corporation & plc:
Carnival Corporation & plc is the largest cruise company in the world, with a portfolio of cruise brands in North America, Europe, Australia and Asia, comprised of Carnival Cruise Lines, Holland America Line, Princess Cruises, Seabourn, AIDA Cruises, Costa Cruises, Cunard, Ibero Cruises, P&O Cruises (Australia) and P&O Cruises (UK).  Together these brands operate 100 ships totaling 203,000 lower berths.

About PokerTek, Inc.:
PokerTek, Inc. (NASDAQ:PTEK) (www.pokertek.com) is a licensed gaming company headquartered in Matthews, NC that develops and distributes electronic table games solutions for the gaming industry. The company’s products are installed worldwide, and include PokerPro®, Blackjack Pro™ and EZ Baccarat™. For more information, visit: www.pokertek.com.

Contact:

Mark Roberson
Chief Executive Officer
PokerTek, Inc.
704.849.0860, x101
investorrelations@pokertek.com

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, which are made in accordance with the Private Securities Litigation Reform Act of 1995. Our actual results may differ materially from those implied in these forward-looking statements as a result of many factors, including, but not limited to, the impact of global macroeconomic and credit conditions on our business and the business of our suppliers and customers, overall industry environment, customer acceptance of our products, delay in the introduction of new products, further approvals of regulatory authorities, adverse court rulings, production and/or quality control problems, the denial, suspension or revocation of permits or licenses by regulatory or governmental authorities, termination or non-renewal of customer contracts, competitive pressures, and our financial condition, including our ability to maintain sufficient liquidity to operate our business. These and other risks and uncertainties are described in more detail in our most recent annual report on Form 10-K and other reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by applicable laws, and you are urged to review and consider disclosures that we make in the reports that we file with the Securities and Exchange Commission that discuss other factors germane to our business.

Navarre (NAVR) to Present at the 25th Annual ROTH Conference on March 19, 2013

MINNEAPOLIS, March 4, 2013 (GLOBE NEWSWIRE) — Navarre (Nasdaq:NAVR), a vertically integrated, multi-channel platform of e-commerce services and distribution solutions for retailers and manufacturers, has been invited to present at the ROTH Capital Partners 25th Annual Conference being held on March 17-20, 2013 at The Ritz-Carlton, Laguna Niguel in Dana Point, California.

Navarre’s management is scheduled to present on Tuesday, March 19, 2013 at 8:00 a.m. Pacific time, with one-on-one meetings held throughout the day.

For more information about the conference or to schedule a one-on-one meeting with Navarre’s management, please contact your ROTH representative at 1-800-933-6830 or via e-mail at oneononerequests@roth.com.

About ROTH Capital Partners

ROTH Capital Partners, LLC (ROTH) is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. and Hong Kong. For more information on ROTH, please visit www.roth.com.

About Navarre Corporation

Founded in 1983, Navarre® provides a vertically integrated, multi-channel platform of e-commerce services and distribution solutions to retailers and manufacturers. The company uniquely offers retail distribution programs, web site development and hosting, customer care, e-commerce fulfillment, and third party logistics services. For additional information, please visit the company’s website at www.Navarre.com.

The Navarre Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6839

CONTACT: Investor Relations
         Liolios Group, Inc.
         Cody Slach
         949-574-3860
         NAVR@Liolios.com

ZaZa Energy (ZAZA) JV with Large Independent to Further Develop Eaglebine

Joint venture partner to carry ZaZa on up to the first nine wells and make substantial cash payment Joint venture partner to operate three-phase roll-out covering all of ZaZa’s acreage, save and except 19K net acres retained 100% by ZaZa in the middle of the block adjacent to recent discoveries

ZaZa Energy Corporation (“ZaZa” or the “Company”)(NASDAQ: ZAZA) today announced that it has signed a Joint Exploration and Development Agreement (the “Agreement”) with one of the largest independent crude oil and natural gas companies in the United States to further develop ZaZa’s Eaglebine assets.

Under the terms of the Agreement, ZaZa’s joint venture partner will receive up to a 75% working interest in up to 55K net acres and operate the JV acreage comprising 73K of ZaZa’s 92K net mineral acres. ZaZa will retain a 25% working interest in the 73K acres. These assets include certain lands located in Walker, Grimes, and Madison, Trinity and Montgomery Counties, Texas, which are wholly owned by ZaZa, and also incorporate certain properties that are covered within the Participation Agreement with Range Texas Production, LLC, a wholly-owned subsidiary of Range Resources Corporation.

Early-stage drilling preparations are already underway for the first two (2) JV wells and the Company expects that the joint venture partner will have drilled the first three (3) earning wells by January 2014.

According to Todd A. Brooks, ZaZa’s President and CEO, “Partnering with one of the largest unconventional oil focused operators in the country validates the Eaglebine work program that has been executed by ZaZa to date. Our new joint venture will benefit from economies of scale and focus on optimizing field development and accelerating production at a reduced cost.”

The development program consists of three phases, each covering a three well drilling program plus associated cash payments. Phases two and three are electable by our partner upon satisfaction of the preceding phase’s work obligations.

About ZaZa Energy Corporation

Headquartered in Houston, Texas, with offices in Corpus Christi, Texas and Paris, France, ZaZa Energy Corporation is a publicly traded exploration and production company with primary assets in the Eagle Ford and Eaglebine resource plays in Texas. More information about the Company may be found at www.zazaenergy.com.

Safe Harbor Statement

This news 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. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “forecasts” and similar references to future periods. These statements include, but are not limited to, statements about ZaZa’s ability to execute on exploration, production and development plans, estimates of reserves, estimates of production, future commodity prices, exchange rates, interest rates, geological and political risks, drilling risks, product demand, transportation restrictions, actual recoveries of insurance proceeds, the ability of ZaZa to obtain additional capital, and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission. While forward-looking statements are based on our assumptions and analyses that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties that could cause our actual results, performance and financial condition to differ materially from our expectations. See “Risk Factors” in most recent filings with the Securities and Exchange Commission for a discussion of risk factors that affect our business. Any forward-looking statement made by us in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development, or otherwise, except as may be required by law.

Crossroads Systems (CRDS) Announces $8.6 Million Private Placement

AUSTIN, TX — (Marketwire) — 03/25/13 — Crossroads Systems, Inc. (NASDAQ: CRDS), a global provider of data archive solutions, today announced that it has entered into a securities purchase agreement with certain accredited investors for a private placement of 4,231,654 shares of Crossroads’ newly designated 5.0% Series F Convertible Preferred Stock (“Convertible Preferred”) and warrants to purchase 2,115,829 shares of its common stock. The Convertible Preferred and warrants will be sold in units, with each unit consisting of (i) one share of Convertible Preferred; and (ii) warrants to purchase shares of Crossroads’ common stock equal to one-half of the number of shares of Convertible Preferred purchased. Each unit will be sold at a price of $2.0625 per unit, resulting in proceeds to Crossroads of approximately $8.6 million, before deducting placement agent fees.

The Convertible Preferred is convertible to common stock at an initial conversion price of $2.0625 per share, subject to certain ownership limitations and anti-dilution adjustments. The dividend rate on the Convertible Preferred is 5% per annum, subject to certain registration conditions, payable semi-annually, at Crossroads’ option in cash, common stock or a combination of both.

Subject to certain ownership limitations, the warrants are exercisable for a period starting on the date that is the later of (a) six months following the closing date of the private placement or (b) the date of the next annual meeting of the stockholders of Crossroads, and will expire on the fifth anniversary of the closing date of the private placement. The warrants have an initial exercise price of $2.00 and are subject to certain anti-dilution adjustments.

The private placement is expected to close on or about Monday, March 25, 2013, subject to the satisfaction of customary closing conditions. The Company will use the net proceeds for general working capital purposes.

The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. The securities were offered only to accredited investors.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.

About Crossroads Systems
Crossroads Systems, Inc. (NASDAQ: CRDS) is a global provider of data archive solutions. Through the innovative use of new technologies, Crossroads delivers customer-driven solutions that enable proactive data security, advanced data archiving, optimized performance and significant cost-savings. Founded in 1996 and headquartered in Austin, TX, Crossroads holds more than 100 patents and has been honored with numerous industry awards for data archiving, storage and protection. Visit www.crossroads.com.

Important Cautions Regarding Forward-Looking Statements
This press release includes forward-looking statements that relate to the business and future events or future performance of Crossroads Systems, Inc. and involve known and unknown risks, uncertainties and other factors that may cause its actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Words such as, but not limited to, “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “targets,” “likely,” “will,” “would,” “could,” and similar expressions or phrases identify forward-looking statements. Forward-looking statements include, but are not limited to, statements about Crossroads Systems’ ability to implement its business strategy, including the transition from a hardware storage company to a software solutions and services provider, its ability to expand its distribution channels, its ability to maintain or broaden relationships with existing distribution channels and strategic alliances and develop new industry relationships, the performance of third parties in its distribution channels and of its strategic alliances, uncertainties relating to product development and commercialization, the ability to obtain, maintain or protect patent and other proprietary intellectual property rights, technological change in its industry, market acceptance of its products and services, future capital requirements, regulatory actions or delays, competition in general and other factors that may cause actual results to be materially different from those described herein. Forward-looking statements in this press release are based on management’s beliefs and opinions at the time the statements are made. Crossroads Systems does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.

©2013 Crossroads Systems, Inc. Crossroads and Crossroads Systems are registered trademarks of Crossroads Systems, Inc. All trademarks are the property of their respective owners. All specifications are subject to change without notice.

Company Contacts:
Jennifer Crane
Crossroads Systems
Email Contact
512.928.6897 or 800.643.7148

Press Contact:
Matthew Zintel
Zintel Public Relations
Email Contact
281.444.1590

Investor Contact:
Mark Hood
Crossroads Systems
Email Contact

Bovie (BVX) Continues To Receive Positive Responses For Its J-Plasma™ Technology

Company Continues to See Strong Sales Potential for J-Plasma™

MELVILLE, N.Y., March 25, 2013 /PRNewswire/ — Bovie Medical Corporation (NYSE AMEX: BVX) (the “Company”) a manufacturer and marketer of electrosurgical products, is pleased to report that it continues to receive increasing numbers of highly favorable responses and praise for its J-Plasma™ technology from leading surgeons and medical professionals.

J-Plasma™ utilizes a gas ionization process producing a stable thin beam of ionized gas emitted from the J-Plasma™ handpiece that can be controlled in a wide range of temperatures and intensities, providing the surgeon great precision, minimal invasiveness and an absence of conductive currents during surgery. Currently, there are five patents issued on J-Plasma™ and another six pending.

To date, over 100 surgeries have been performed on procedures such as Myomectomy, Ovarian Cyst, Endometriosis, Bowel Resection, Adhesiolysis, Robotic Assisted Hysterectomy, Hernia, LAVH, Ectopic, Abdominoplasty, Anterior/Posterior Repair and Breast Augmentation by Gynecologist, General Surgeons, and Plastic Surgeons on patients during surgeries in hospital settings, as well as, Urologists in laboratory settings, with excellent results.

J-Plasma™ continues to receive great support from influential surgeons across the country, further bolstering the positive results already achieved. While the Company is energetically pursuing the field of gynecological surgery, it anticipates entries into specialties such as oncology, dermatology, ENT and others, prompted by positive surgeon reactions in those specialties.

As indicated, leading surgeons have been generous in their praise of J-Plasma™ and the Company is pleased to list some noteworthy comments by surgeons:

• A well known surgeon in the Western U.S. suggested that, “J-Plasma™ will be a household name by next year.”
• A Tennessee gynecology surgeon commented, “You saved me 45 minutes and I honestly don’t think there is a product on the market that would do what I just did.”
• A gynecology surgeon in Nevada stated, “J-Plasma™ saved me at least an hour on this myomectomy.  It was much faster than what we usually use.”
• A gynecology surgeon in Tampa: “You guys finally came up with something that all of us (surgeons) have been looking for… it solves a lot of problems in a safe affordable manner.”
• A general surgeon in Nashville commented that, “I usually have a lot of fear when I activate an instrument near the bowel, but after using J-Plasma™ for twenty minutes, that fear is gone.”
• A gynecology surgeon in Pennsylvania offered, “This thing is great. It went through muscle, the uterus and ligaments without effort and with no charring.”

There are 20 hospitals permitting J-Plasma™ usage on patients with 11 of those hospitals already giving approval for the purchase of J-Plasma™. The remaining 9 hospitals are in the evaluation process and purchasing approvals are expected to be granted in the coming months. In addition, there are another 30 in the committee process and we continue to add to this number weekly.

In order to affect a sale, hospitals require a two-committee approach of first giving consent to use the product on patients, followed by approval from a purchasing committee.  Although the process can be lengthy, the Company fully expects additional approvals to be forthcoming.  The Company estimates that the potential for increasing sales is evidenced by the number of surgeons who perform multiple procedures monthly.

Currently, 54 Bovie Medical sales reps blanket a substantial part of the U.S. and report strong interest in the J-Plasma™.  The Company continues to add and train representatives on a weekly basis and it is anticipated that the Company will eventually have 120 representatives throughout the U.S.

Company management believes that although sales to date are in their early stages, due to the lengthy committee approval and evaluation process, J-Plasma’s™ benefits, coupled with hospital purchasing committee approvals and continued surgeon exposure, should result in a medical success for Bovie Medical with a goal of potential sales in the tens of millions.

Additionally, leading surgeons in the West and Southeast are currently conducting teaching labs and courses for varied uses of J-Plasma™ for both surgeons and sales representatives. Bovie will also be attending multiple conferences that specifically target minimally invasive surgeons, including conferences ACOG, SLS, and AAGL commencing in May and continuing for the rest of the year.

Jeff Rencher, Vice President of Sales and Marketing, stated, “We are pleased and enthused with the overwhelming positive feedback we have received from well recognized and established surgeons who are now committed J-Plasma users.” He also stated, “We are very confident that our state-of-the-art technology has the capability to become a commonplace fixture in hospitals and outpatient surgery centers.”

About Bovie Medical Corp.

Bovie Medical Corporation is actively engaged in the business of manufacturing and marketing a variety of electrosurgical medical products as well as developing related technologies and products. Recently, greater effort and resources have been directed towards manufacturing electrosurgical generators which are primarily used for outpatient surgical procedures. Bovie continues the ongoing development of battery operated cauteries, vessel sealing instruments and high-powered generators for operating room use.

For further information about the Company’s current and new products, please refer to the Investor Relations section of Bovie’s website www.boviemed.com.

Cautionary Note on Forward-Looking Statements

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws.  Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.

Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected.  Many of these factors are beyond the Company’s ability to control or predict.  Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission including the Company’s Report on Form 10‑K for the year ended December 31, 2010.  For forward-looking statements in this new release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.  The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

For further information contact:

Bovie Medical Investor Relations and Shareholder Information
Joseph M. Vazquez III
Phone: (800) 448-7097
Email: infinityglobalconsulting@gmail.com

Stereotaxis (STXS) Receives Regulatory Approval of Niobe(R) Technology in Japan

ST. LOUIS, March 25, 2013 (GLOBE NEWSWIRE) — Stereotaxis, Inc. (Nasdaq:STXS) announced today that it has received regulatory approval of its Niobe® remote magnetic technology for cardiac ablations in Japan, a critical milestone in securing full market entry into the country. This approval allows the Company to begin marketing efforts, including establishing a local business infrastructure with in-country distributors, while working on obtaining reimbursement approval for full market entry, or the ability to initiate sales. Reimbursement approval is expected by the end of 2013.

Approval by the Pharmaceuticals and Medical Devices Agency, Japan’s equivalent to the U.S. Food and Drug Administration, follows a successful three-year clinical trial of the Niobe system at the Tokyo Women’s Medical University. The clinical trial was led by Dr. Morio Shoda and supported by the Company’s industry collaborators in Japan.

William Mills, Chairman of the Stereotaxis Board of Directors, says the Japanese market, the second largest for medical devices behind the U.S., represents a significant growth opportunity for the Company. “An aging population, prominent cardiovascular institutions that embrace new technologies and favorable, universal health coverage create a very attractive environment for us to leverage our one-of-a-kind robotic navigation system,” says Mr. Mills. “Our entry into Japan provides opportunity for meaningful growth in the Asia Pacific region and marks a major step towards our vision of becoming the first choice in the treatment of complex electrophysiology ablations for the global marketplace.”

There are currently 570 hospitals in Japan performing approximately 38,000 electrophysiology (EP) procedures annually, 45% of which are atrial fibrillation (AF) cases. With the highest life expectancy among developed nations – 82.9 years – Japan has a rapidly growing senior population, currently at 23% and expected to reach 40% in the next 50 years. As AF and other arrhythmias are typically present in older individuals, the rate of EP ablations is anticipated to rise with the aging population. By 2018, industry analysts expect the country to experience 12% annual growth in EP procedures and a 22% annual increase in AF cases.

Mr. Mills adds that the Niobe’s demonstrated strength in significantly reducing radiation exposure to physicians and patients will be particularly appealing to a Japanese society highly sensitive to radiation risk. The Company looks forward to showcasing its Niobe technology for prospective Japanese clients at the annual Heart Rhythm Society (HRS) scientific session in May and the Japanese HRS meeting in July.

About Stereotaxis

Stereotaxis is a healthcare technology and innovation leader in the development of robotic cardiology instrument navigation systems designed to enhance the treatment of arrhythmias and coronary disease, as well as information management solutions for the interventional lab. With over 100 patents for use in a hospital’s interventional surgical suite, Stereotaxis helps physicians around the world provide unsurpassed patient care with robotic precision and safety, improved lab efficiency and productivity, and enhanced collaboration of life-saving information. Stereotaxis’ core technologies are the Niobe^® ES Remote Magnetic Navigation system, the Odyssey^® portfolio of lab optimization, networking and patient information management systems and the Vdrive^™ Robotic Mechanical Navigation system and consumables.

The core components of Stereotaxis systems have received regulatory clearance in the U.S., Europe, Canada and elsewhere. The V-Loop^™ circular catheter manipulator is currently in clinical trials in order to obtain clearance by the U.S. Food and Drug Administration; the Company also is pursuing U.S. clearance for the V-Sono™ ICE catheter manipulator. For more information, please visit www.stereotaxis.com and www.odysseyexperience.com.

This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, our continued access to capital and financial resources on a timely basis and on terms that are acceptable, our continued listing on the Nasdaq Global Market, continued acceptance of the Company’s products in the marketplace, the effect of global economic conditions on the ability and willingness of customers to purchase our systems and the timing of such purchases, the outcome of various shareholder litigation recently filed against us, competitive factors, changes resulting from the recently enacted healthcare reform in the U.S., including changes in government reimbursement procedures, dependence upon third-party vendors, timing of regulatory approvals, and other risks discussed in the Company’s periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. There can be no assurance that the Company will recognize revenue related to its purchase orders and other commitments in any particular period or at all because some of these purchase orders and other commitments are subject to contingencies that are outside of the Company’s control. In addition, these orders and commitments may be revised, modified, delayed or canceled, either by their express terms, as a result of negotiations, or by overall project changes or delays.

CONTACT: Press Contact:
         Frank Cheng
         Senior Vice President, Marketing and
         Business Development
         314-678-6111

         Investor Contact:
         Todd Kehrli / Jim Byers
         MKR Group, Inc.
         323-468-2300

Judge Dismisses 2007 Class Action Case Against Flamel Technologies (FLML)

LYON, FRANCE — (Marketwire) — 03/22/13 — Flamel Technologies (NASDAQ: FLML) today announced that Judge Robert Sweet of the United States District Court for the Southern District of New York issued a summary judgment on March 8, 2013 dismissing a class action suit against the Company, and its former CEO. The initial class action was filed in 2007 and, during the six year period, had two different plaintiffs. The case, Billhofer v. Flamel Technologies, et al., alleged claims arising under the Securities Exchange Act of 1934 based on certain public statements by the Company concerning, among other things, Coreg CR. The Company previously stated that it intended to vigorously defend itself in the action.

In dismissing the case, Judge Sweet’s opinion states that “as there is no genuine issue of fact and no reasonable jury could find in the lead plaintiff’s favor on his claim, the motion for summary judgment is granted.”

About Flamel Technologies. Flamel Technologies SA’s (NASDAQ: FLML) business model is to blend high-value internally developed products with its leading drug delivery capabilities. The Company has a proprietary pipeline of niche specialty pharmaceutical products, while its drug delivery platforms are focused on the goal of developing safer, more efficacious formulations of drugs to address unmet medical needs. Its partnered pipeline includes biological and chemical drugs formulated with its Medusa® and Micropump® (and its applications to the development of liquid formulations, i.e. LiquiTime™ and of abuse-deterrent formulations Trigger Lock™) proprietary drug delivery platforms. Several Medusa-based products have been successfully tested in clinical trials. The Company has developed products and manufactures Micropump-based microparticles under FDA-audited GMP guidelines. Flamel Technologies has collaborations with a number of leading pharmaceutical and biotechnology companies, including GlaxoSmithKline (Coreg CR®, carvedilol phosphate). The Company is headquartered in Lyon, France and has operations in St. Louis, Missouri, USA, and manufacturing facilities in Pessac, France. Additional information may be found at www.flamel.com.

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including certain plans, expectations, goals and projections regarding financial results, product developments and technology platforms. All statements that are not clearly historical in nature are forward-looking, and the words “anticipate,” “assume,” “believe,” “expect,” “estimate,” “plan,” “will,” “may,” and similar expressions are generally intended to identify forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control that could cause actual results to differ materially from those contemplated in such forward-looking statements. These risks include risks that the acquisition of Éclat Pharmaceuticals may not be successfully integrated or that certain payment acceleration events may be triggered; the new hospital-based product under FDA review may not be approved or such approval may be delayed; the reacquisition of the exclusive rights to develop and commercialize IFN-β XL worldwide and identification of an alternative strategic partner for the program may not be successful; the identified opportunities will not result in shorter-term, high value results; clinical trial results may not be positive or our partners may decide not to move forward; management transitions may be disruptive or not succeed as planned; products in the development stage may not achieve scientific objectives or milestones or meet stringent regulatory requirements; products in development may not achieve market acceptance; competitive products and pricing may hinder our commercial opportunities; we may not be successful in identifying and pursuing opportunities to develop our own product portfolio using Flamel’s technology; and the risks associated with our reliance on outside parties and key strategic alliances. These and other risks are described more fully in Flamel’s Annual Report on Form 20-F for the year ended December 31, 2011 that has been filed with the Securities and Exchange Commission (SEC). All forward-looking statements included in this release are based on information available at the time of the release. We undertake no obligation to update or alter our forward-looking statements as a result of new information, future events or otherwise.

CAMAC Energy (CAK) Announces Change of Date for FY12 Results Conference Call

HOUSTON, March 22, 2013 /PRNewswire/ — CAMAC Energy Inc. (NYSE MKT:  CAK), a U.S.-based energy company engaged in the exploration, development and production of oil and gas in Africa, today announced that it has changed its 2012 year-end and fourth quarter results conference call to 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Monday, April 1, 2013. Dr. Kase Lawal, CAMAC Energy’s Chairman and CEO, will host the call.

About CAMAC Energy Inc.

CAMAC Energy Inc. (NYSE MKT:  CAK) is a U.S.-based energy company engaged in the exploration, development and production of oil and gas. The Company’s principal assets include interests in OML 120 and OML 121, offshore oil and gas leases in deep water Nigeria which include the currently producing Oyo Oilfield, and six recently acquired exploration blocks in Kenya and Gambia. The Company is currently pursuing further additions to its exploration portfolio in East and West Africa. The Company was founded in 2005 and has offices in Houston, Texas, Nairobi, Kenya, Banjul, Gambia and Lagos, Nigeria.

Plug Power (PLUG) to Announce Fourth Quarter and Year End Results

LATHAM, N.Y., March 22, 2013 (GLOBE NEWSWIRE) — Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced it will release the Company’s 2012 fourth quarter results on March 28th, 2013.

In conjunction with the press release, the Company will host a live conference call and webcast.

Date: Thursday, March 28, 2013

Time: 10:00 am ET

Toll-free: 877.407.8291

The webcast can be accessed by going directly to the Plug Power Web site (www.plugpower.com) and selecting the conference call link on the home page. A playback of the call will be available online for a period following the call.

About Plug Power Inc.

The architects of modern fuel cell technology, Plug Power revolutionized the industry with cost-effective power solutions that increase productivity, lower operating costs and reduce carbon footprints. Long-standing relationships with industry leaders forged the path for Plug Power’s key accounts, including Walmart, Sysco, P&G and Mercedes. With more than 3,000 GenDrive units deployed to material handling customers, accumulating over 8 million hours of runtime, Plug Power manufactures tomorrow’s incumbent power solutions today. Additional information about Plug Power is available at www.plugpower.com.

CONTACT: Media Contact:
         Gerard Conway
         Phone: (518) 782-7700
         media@plugpower.com

         Address:
         968 Albany Shaker Road
         Latham, New York 12110

Lpath (LPTN) Granted Key European and U.S. Patents Related to Anti-Cancer Drug Program

SAN DIEGO, CA — (Marketwire) — 03/22/13 — Lpath, Inc. (NASDAQ: LPTN), the industry leader in bioactive lipid-targeted therapeutics, received official notification from the European Patent Office (EPO) and the U.S. Patent and Trademark Office (USPTO) that the company has been issued three key patents.

The patents cover methods of detecting sphingolipid levels, as well as covering monoclonal antibodies, including ASONEP™ and iSONEP™, that bind to and neutralize sphingosine-1-phosphate (S1P). S1P is a bioactive lipid that has been validated as a target in multiple disease states.

The newly issued U.S. patent, No. 8,361,465, claims ASONEP and fragments of ASONEP for the treatment of cancer in combination with chemotherapeutic agents and optionally surgery or radiation therapy.

European patent No. EP 1 812 797 claims anti-S1P antibodies for use in treating a wide range of hyperproliferative disorders, including cancer, tumor angiogenesis, age-related macular degeneration (AMD), cardiac failure, inflammation, and scarring. Claims are also granted in Europe for anti-S1P antibodies in combination with other treatments.

A third patent, EP 2 027 142, was also granted in Europe. It has claims to reagents and methods useful in diagnostic tests for detecting and measuring certain sphingolipid levels in clinical tissue or bodily fluid samples. Many scientific publications have suggested that S1P is a tumorigenic and angiogenic bioactive lipid that cancer cells use to escape therapy. In collaboration with Dr. Rupal Bhatt of Beth Israel Deaconess Medical Center, Lpath has demonstrated that levels of S1P are upregulated in blood of patients with renal cell carcinoma (RCC). Moreover, Dr. Bhatt has demonstrated efficacy of Lpath’s anti-S1P antibodies in treating mice with human RCC tumors.

“In addition to previously issued Lpath patents, these key patents provide additional exclusivity for ASONEP in the U.S. for cancer, as well as exclusivity for all anti-S1P antibodies in Europe for wet AMD,” said Roger Sabbadini, Lpath’s vice president, founder, and an inventor of the granted patents. “Lpath will continue to pursue other disease indications and corresponding intellectual property in the future.”

ASONEP™ and iSONEP™ are different formulations of sonepcizumab, a first-in-class therapeutic antibody against S1P developed using Lpath’s ImmuneY2™ drug-discovery engine. Antibodies developed via this discovery engine are designed to target bioactive signaling lipids, such as S1P, that are involved in cancer, AMD, inflammatory and auto-immune disorders, and many other diseases.

Lpath has initiated a Phase 2 clinical trial for iSONEP, called Nexus, which is evaluating the anti-S1P antibody’s safety and efficacy in wet-AMD patients. Lpath entered into an agreement with Pfizer (NYSE: PFE) in 2010 that provides Pfizer an exclusive option for a worldwide license to develop and commercialize iSONEP.

In addition, Lpath is independently conducting an ASONEP Phase 2 trial in RCC patients, which is currently open for enrollment.

About Lpath’s Patent Portfolio
Over the course of the company’s development, Lpath has achieved a broad and deep intellectual property position in the bioactive-lipid area. The company’s comprehensive patent portfolio now includes 35 issued patents (including ten international) and 112 patent applications (including 85 international). These patents primarily relate to the use of reagents and methods designed to interfere with the actions of bioactive lipids involved in human disease. Lpath’s intellectual property portfolio includes coverage of compositions of matter that specifically bind to sphingolipids and sphingolipid metabolites. These compositions, including antibodies, could be used in the diagnosis and treatment of various diseases and disorders, including cardiovascular and cerebrovascular disease, cancer, inflammation, autoimmune disorders, ocular disease, and angiogenesis.

Lpath has also obtained issued patent claims on sphingolipid targets (e.g., receptors and signaling sphingolipids) and methods for using such targets in drug-discovery screening efforts.

The company believes that its patent portfolio provides broad and commercially significant coverage of antibodies, receptors, enzymes, and other moieties that bind to a lysolipid (or a sphingolipid metabolite) for diagnostic, therapeutic, and screening purposes.

About Lpath
San Diego-based Lpath, Inc., a therapeutic antibody company, is the category leader in lipid-targeted therapeutics. The company’s ImmuneY2™ drug-discovery engine has the unique ability to generate monoclonal antibodies that bind to and inhibit bioactive lipids that contribute to disease. The company is developing three drug candidates: iSONEP™ is being studied in a Phase 2 trial in wet AMD patients; ASONEP™ is being studied in a Phase 2 trial in renal cell carcinoma patients; and Lpathomab is a preclinical drug candidate that holds promise in pain, neurotrauma, and other diseases. For more information, visit www.Lpath.com.

About Forward-Looking Statements
The Company cautions you that the statements included in this press release that are not a description of historical facts are forward-looking statements. These include statements regarding: the protection against competition afforded by issued patents; the eventual commercial viability of the Company’s drug programs; and the Company’s ability to complete additional discovery and development activities for drug candidates utilizing its proprietary ImmuneY2 drug discovery process. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in the Company’s business, including, without limitation: the outcome of the final analyses of the data from the Phase 1 clinical trial may vary from the Company’s initial conclusions; the results of any future clinical trials for iSONEP or ASONEP may not be favorable and the Company may never receive regulatory approval for iSONEP or ASONEP or any of its drug candidates; and the Company’s may not be able to secure the funds necessary to support its clinical trial and product development plans. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q filed with the SEC. Such documents may be read free of charge on the SEC’s web site at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.

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Lpath, Inc.
Scott R. Pancoast
President & CEO
Tel: (858) 926-3200
Email Contact

Lpath Investor Relations
Liolios Group, Inc.
Tel: (949) 574-3860
Email Contact
Ron Both: Email Contact

China Sunergy’s (CSUN) Technology Heads Win Prestigious Awards in Australia

NANJING, China, March 22, 2013 /PRNewswire/ — China Sunergy Co., Ltd. (Nasdaq: CSUN) (“China Sunergy” or the “Company”), a specialized solar cell and module manufacturer, today announced that its Chief Technology Officer, Dr. Jianhua Zhao, and its Head of Research and Vice President, Dr. Aihua Wang, have jointly received the Advance Global Australian Award 2013. Dr. Zhao and Dr. Wang are the first Chinese-Australians ever to receive this award. In partnership with the Australian Government and the Australian Financial Review, the award ceremony was held at the Museum of Contemporary Art in Sydney on March 21, 2013.

The Advance Global Australian Awards recognise and honour Australians who live overseas and exhibit remarkable talent, exceptional vision and ambition, and celebrate those who are leaders and innovators. Nominations are sought from candidates across several industries. The Advance Global Australian Awards are the only awards to recognise the important contributions of the more than one million Australians living abroad. Dr. Zhao and Dr. Wang were nominated by Professor Martin Green, a pioneer in the solar photovoltaic field. Candidates are evaluated by the following stringent criteria, including demonstrated leadership, vision, action and innovation in their field. Dr. Zhao and Dr. Wang were winners in the clean technology category.

In the same ceremony, Dr. Zhao and Dr. Wang received a second award, the Australia in the Asian Century Award, for their contribution in the Asia region. Four out of twelve of the Advance Global Australian Award winners are living and working in the Asia region. Australia Prime Minister, the Hon Julia Gillard, also made a video speech to them to endorse this Australia in the Asian Century award.

Dr. Zhao and Dr. Wang set the world record for the highest lab efficiency of solar cells in 1989. Since then, they have broken their own record on numerous occasions, most recently in 1999, when they achieved a lab efficiency of 24.7%, which was later corrected to 25.0%, which remains the highest level achieved in the world so far. Furthermore, Dr, Zhao and Dr. Wang are now leading China Sunergy’s participation in an 863 program, a National High Technology Research and Development Program in China that supports and encourages the development and commercialization of solar cells with a high efficiency rate (over 20%) and a low production cost. China Sunergy’s lab results reached an efficiency rate of 20.29% last December, and the objective for the next phase of research and development is to stabilize this efficiency rate and to start pilot production by the end of 2013.

Mr. Lu Tingxiu, Chairman of China Sunergy said, “We are excited and happy for the couple to receive this award, which is an important recognition for their contributions to drive solar technology forward. We are proud of their contributions to the industry as well as to China Sunergy. As co-founders of China Sunergy, they have shaped the company’s advanced technology and allowed us to provide customers with efficient and cost-effective products. We remain heavily committed to research and technological innovation under their leadership.”

“We are greatly honored and pleased to receive this award. We have been deeply involved in this industry and will continue to focus on research and development projects at China Sunergy that will further advance the efficiency and quality of our products,” Dr. Zhao and Dr. Wang remarked.

About China Sunergy Co., Ltd.

China Sunergy Co., Ltd. (NASDAQ:CSUN) designs, manufactures and delivers high efficiency solar cells and modules to the world from its production centers based in China and Turkey. China Sunergy also invests in high potential solar projects. Founded in 2004, China Sunergy is well known for its advanced solar cell technology, reliable product quality, and excellent customer service.

For more information, please visit http://www.chinasunergy.com.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts in this announcement are forward-looking statements. These forward-looking statements are based on current expectations, assumptions, estimates and projections about the Company and the industry, and involve known and unknown risks and uncertainties, including but not limited to, demand for and selling prices of the Company’s products, execution of our strategy to expand into downstream solar power businesses, general economic and business conditions; the Company’s ability to attract or retain qualified senior management personnel and research and development staff; future shortage or availability of the supply of raw materials. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

Media Contacts:

China Sunergy Co., Ltd.

Brunswick Group

Intelligent Systems (INS) Announces Fourth Quarter and 2012 Results

Investor Conference Call at 11 AM EDT on March 22, 2013

NORCROSS, Ga., March 22, 2013 (GLOBE NEWSWIRE) — Intelligent Systems Corporation (NYSE MKT:INS) [www.intelsys.com] announced today its financial results for the three and twelve month periods ended December 31, 2012.

For the three month period ended December 31, 2012, total revenue was $4,329,000, an increase of 17 percent compared to the fourth quarter of 2011. The company recorded net income attributable to Intelligent Systems of $314,000 ($0.04 per share) in the fourth quarter of 2012 as compared to a net loss attributable to Intelligent Systems of $103,000 ($0.01 per share) in the fourth quarter of 2011.

For the twelve month period ended December 31, 2012, total revenue grew by 1 percent to $16,530,000 as compared to total revenue of $16,324,000 in the prior year. Net income attributable to Intelligent Systems for the fiscal year 2012 was $534,000 ($0.06 per share), compared to net income attributable to Intelligent Systems of $1,055,000 ($0.11 per share) in fiscal 2011.

The fiscal year 2012 results are not directly comparable to 2011 because 2011 results include non-recurring income of $450,000 related to settlement of a law suit in favor of our ChemFree subsidiary in May 2011. In addition, as previously reported, comparative results for the 2011 periods have been restated to correct a misinterpretation of an accounting standard related to allocation of income/losses of noncontrolling common stock interests in a subsidiary.

J. Leland Strange, President and Chief Executive Officer, stated, “Our ChemFree subsidiary continued to post solid financial performance, growing revenue by 7 percent and operating profit by over 25 percent in fiscal year 2012 as compared to 2011. Domestic sales of ChemFree’s SmartWasher® parts washer improved as the economic recovery took hold and world-wide sales of consumable products for the SmartWasher® posted gains as well.

“In both the three and twelve month periods ended December 31, 2012, our CoreCard Software subsidiary grew its revenue derived from maintenance, support and other services to the installed base of businesses that have licensed the CoreCard® software solutions to manage credit, fleet, prepaid, loan and accounts receivable programs. We also made measurable and slow but steady progress in developing our prepaid card processing services initiative, in which we continue to invest significant resources.”

The company will hold an investor conference call today, March 22, 2013 at 11 AM Eastern Daylight Time. Interested investors are invited to attend the conference call by dialing (877) 331-9835 and entering conference ID code 24275457.  A recording of the call will be posted on the company’s website at www.intelsys.com as soon as available. The company intends to file its Form 10-K for the period ended December 31, 2012 with the Securities Exchange Commission today, March 22, 2013. For additional information about reported results, investors will be able to access the Form 10-K on the company’s website at www.intelsys.com or on the SEC site, www.sec.gov.

About Intelligent Systems Corporation

For over thirty five years, Intelligent Systems Corporation (NYSE MKT:INS) has identified, created, operated and grown early stage technology companies. The company has operations and investments in the information technology and industrial products industries. The company’s principal majority-owned subsidiaries are CoreCard Software, Inc. (www.corecard.com), a provider of software and services for prepaid and credit card processing, and ChemFree Corporation (www.chemfree.com), a leader in bioremediating parts washer equipment and supplies.  Further information is available on the company’s website at www.intelsys.com or by calling the company at 770/381-2900.

In addition to historical information, this news release may contain forward-looking statements relating to Intelligent Systems Corporation and its subsidiary and affiliated companies. These statements include all statements that are not statements of historical fact regarding the intent, belief or expectations of Intelligent Systems Corporation and its management with respect to, among other things, results of operations, product plans, and financial condition. The words “may,” “will,” “anticipate,” “believe,” “intend,” “expect,” “estimate,” “plan,” “strategy” and similar expressions are intended to identify forward-looking statements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. The company does not undertake to update or revise any forward-looking statements whether as a result of new developments or otherwise, except as required by law. Among the factors that could cause actual results to differ materially from those indicated by such forward-looking statements are instability in the financial markets, delays in product development, undetected software errors, competitive pressures, changes in customers’ requirements or financial condition, market acceptance of products and services, changes in the performance, financial condition or valuation of affiliate companies, the risks associated with investments in privately-held early stage companies and further declines in general economic and financial market conditions, particularly those that cause businesses to delay or cancel purchase decisions.

CONTACT: For further information, call
         Bonnie Herron, 770-564-5504
         or email to bherron@intelsys.com

Response (RGDX) Announces Fourth Quarter and Year-End 2012 Financial Results

— Q4 Revenue Increases 11% to $5.5 Million Relative to Q4 2011 and Gross Margin Increases to 54% —

— Fourth Quarter Losses Decrease to $0.5 Million Relative to Q4 2011 Loss of $3.9 Million —

LOS ANGELES, March 21, 2013 (GLOBE NEWSWIRE) — Response Genetics, Inc. (Nasdaq:RGDX), a company focused on the development and sale of molecular diagnostic tests that help determine a patient’s response to cancer therapy, today announced its consolidated financial results and business progress for the full year and fourth quarter ended December 31, 2012.

Total revenue for the fourth quarter ended December 31, 2012 was $5.5 million compared to $4.9 million for the quarter ended December 31, 2011 and $5.4 million for the quarter ended September 30, 2012. The Company’s pharmaceutical client revenue increased by 36% and the Company’s ResponseDX® revenue decreased 1% relative to the quarter ended December 31, 2011 and the Company’s pharmaceutical client and ResponseDX® revenues increased 3% and 2%, respectively, relative to the quarter ended September 30, 2012.

The Company’s net loss for the fourth quarter ended December 31, 2012 decreased to $0.5 million, or $(0.01) per share, compared to a net loss of $3.9 million, or $(0.20) per share, for the quarter ended December 31, 2011 and a net loss of $1.4 million, or $(0.05) per share, for the quarter ended September 30, 2012. This is the fourth consecutive quarter the Company decreased its net loss.

The Company also increased its gross margin to 54% for the quarter ending December 31, 2012 compared to 25% for the fourth quarter of 2011 and 49% for the quarter ended September 30, 2012. Gross margin is calculated as net revenue less cost of revenue.

Excluding cost of revenue, total operating expenses for the fourth quarter were $3.5 million, compared to $5.2 million for the same period last year and $4.0 million for the quarter ended September 30, 2012.

Cash and cash equivalents at December 31, 2012, were $9.0 million, compared to $1.7 million at December 31, 2011.

“We are once again very pleased with the financial results for the quarter ended December 31, 2012, which improved for the fourth consecutive time relative to the prior quarter. Since the fourth quarter of last year, we continued to realize consecutive quarter-over-quarter positive results from the many changes implemented by the Company. Gross margins have increased more than two-fold from the fourth quarter of last year, and operating loss has continued to decrease significantly, or nearly three-fold, since the third quarter of 2012 and by nearly eight-fold from the fourth quarter of last year,” said Thomas Bologna, the Company’s Chairman & Chief Executive Officer.

Mr. Bologna added, “Of equal importance, the Company currently has a strong balance sheet which will provide the means for implementing the structure needed to build top-line growth. We are well on our way to developing a dynamic ResponseDX® sales force which we expect will deliver top-line testing growth in the second half of 2013. We believe strong top-line growth coupled with the Company’s new management team, cost structure and focus on operational efficiencies, which were the hallmarks of our 2012 efforts, will help to further drive our strategic and financial performance.”

Total revenue for the year ended December 31, 2012 decreased to $18.7 million, compared to $22.6 million for the year ended December 31, 2011. The reduction was due primarily to the expected decrease in pharmaceutical client revenue during the first half of 2012 which resulted in a year over year decrease to $6.9 million for the year ended December 31, 2012, compared to $10.1 million for the year ended December 31, 2011. The Company’s ResponseDX® revenue decreased slightly to $11.9 million for the year ended December 31, 2012, compared to $12.5 million for the prior year.

The Company’s net loss for the year ended December 31, 2012 was $7.8 million or a loss of $0.29 per share, compared with a net loss of $5.8 million, or a loss of $0.30 per share, for the year ended December 31, 2011.

Additional Year-End 2012 Financial Results

Gross margin for the year ended December 31, 2012 was approximately 44% compared to approximately 48% for the previous year and was largely the result of decreased pharmaceutical revenue in the first two quarters of 2012.  Excluding cost of revenue, total operating expenses for the year ended December 31, 2012 were $16.0 million, compared with $16.6 million for the year ended December 31, 2011. The decrease in total operating expenses of $0.6 million was due to a general focus on re-structuring the Company’s resources and cost reduction primarily impacting the second half of the year.

CONFERENCE CALL DETAILS

To access the conference call by phone on March 21 at 10:00 a.m. EDT, dial (800) 537-0745 or (253) 237-1142 for international participants. A telephone replay will be available beginning approximately two hours after the call through March 23, 2013, and may be accessed by dialing (855) 859-2056 or (404) 537-3406. The conference passcode for both the live call and replay is 20506513.

To access the live and archived webcast of the conference call, go to the Investor Relations section of the Company’s website at http://investor.responsegenetics.com.  It is advised that participants connect at least 15 minutes prior to the call to allow for any software downloads that might be necessary.

About Response Genetics, Inc.

Response Genetics, Inc. (the “Company”) is a CLIA-certified clinical laboratory focused on the development and sale of molecular diagnostic testing services for cancer. The Company’s technologies enable extraction and analysis of genetic information derived from tumor cells stored as formalin-fixed and paraffin-embedded specimens. The Company’s principal customers include oncologists and pathologists. In addition to diagnostic testing services, the Company generates revenue from the sale of its proprietary analytical pharmacogenomic testing services of clinical trial specimens to the pharmaceutical industry. The Company’s headquarters is located in Los Angeles, California. For more information, please visit www.responsegenetics.com.

The Response Genetics, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=17735

Forward-Looking Statement Notice

Except for the historical information contained herein, this press release and the statements of representatives of the Company related thereto contain or may contain, among other things, certain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.

Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company’s plans, objectives, projections, expectations and intentions, such as the ability of the Company, to provide clinical testing services to the medical community, to continue to expand its sales force, to continue to build its digital pathology initiative, to attract and retain qualified management, to strengthen marketing capabilities, to expand the suite of ResponseDX® products, to continue to provide clinical trial support to pharmaceutical clients, to enter into new collaborations with pharmaceutical clients, to enter into areas of companion diagnostics, to continue to execute on its business strategy and operations, to continue to analyze cancer samples and the potential for using the results of this research to develop diagnostic tests for cancer, the usefulness of genetic information to tailor treatment to patients, and other statements identified by words such as “project,” “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan” or similar expressions.

These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including those detailed in the Company’s filings with the Securities Exchange Commission. Actual results, including, without limitation, actual sales results, if any, or the application of funds, may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). The Company undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise, except as required by law.

CONTACT: Investor Relations Contact:
         Peter Rahmer
         Trout Group
         646-378-2956

         Company Contact:
         Thomas A. Bologna
         Chairman & Chief Executive Officer
         323-224-3900

(ZBB) & Project Partners Determine Site for Project in Southern California

MILWAUKEE, WI — (Marketwire) — 03/21/13 — ZBB Energy Corporation (NYSE MKT: ZBB), a leading developer of intelligent, renewable energy power platforms and hybrid vehicle control systems, today offers an update to the project previously announced on September 8, 2010, taking place in conjunction with Itron, Inc. (NASDAQ: ITRI) and other complementary partners.

This project allows ZBB to demonstrate the integration of an advanced energy storage system at a yet to be publicly disclosed location in Southern California. The project is partially funded from the California Solar Initiative Research, Development, Deployment and Demonstration Program (CSI RD&D), and will provide for storage technologies to be integrated at the selected location. The objective of the project is to demonstrate the combined value of a photovoltaic (PV) energy source and energy storage.

“Based on the proactive leadership of partners for projects such as this, as well as recent announcements regarding long-term procurement goals relating to energy storage and distributed generation incentive programs in California, we are excited about size of the opportunity and near-term realization of the project, which is slated to be commissioned this summer,” said Eric Apfelbach, President and CEO of ZBB Energy.

About ZBB Energy Corporation

ZBB Energy Corporation (NYSE MKT: ZBB) designs, develops, and manufactures advanced energy storage, power electronic systems, and engineered custom and semi-custom products targeted at the growing global need for distributed renewable energy, energy efficiency, power quality, and grid modernization. ZBB and its power electronics subsidiary, Tier Electronics, LLC, have developed a portfolio of integrated power management platforms that combine advanced power and energy controls plus energy storage to optimize renewable energy sources and conventional power inputs whether connected to the grid or not. Tier Electronics participates in the energy efficiency markets through their hybrid vehicle control systems, and power quality markets with their line of regulation solutions. Together, these platforms solve a wide range of electrical system challenges in global markets for utility, governmental, commercial, industrial and residential end customers. Founded in 1986, ZBB’s platforms ensure optimal efficiencies today, while offering the flexibility to adapt and scale to future requirements. ZBB’s corporate offices and production facilities are located in Menomonee Falls, WI, USA with offices also located in Perth, Western Australia. For more information, visit: www.zbbenergy.com.

About Itron, Inc.

Itron is a global technology company. We build solutions that help utilities measure, manage and analyze energy and water. Our broad product portfolio includes electricity, gas, water and thermal energy measurement and control technology; communications systems; software; and professional services. With thousands of employees supporting nearly 8,000 utilities in more than 100 countries, Itron empowers utilities to responsibly and efficiently manage energy and water resources. Join us in creating a more resourceful world; start here: www.itron.com.

Safe Harbor Statement

Certain statements made in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or other comparable terms. Forward-looking statements in this press release may address the following subjects among others: statements regarding the sufficiency of our capital resources, expected operating losses, expected revenues, expected expenses and our expectations concerning our business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

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ZBB Energy Investor Relations Contact:

Lewis W. Kreps
Three Part Advisors, LLC
www.threepa.com
214-599-7955

or

David Mossberg
Three Part Advisors, LLC
817-310-0051

Itron Investor Relations Contact:

Sharelynn Moore
Vice President, Corporate Communications

Highpower (HPJ) Reports Q4 and FY12 Financial Results

NEW YORK, NY and SHENZHEN, CHINA — (Marketwire) — 03/21/13 — Highpower International, Inc. (NASDAQ: HPJ), a developer, manufacturer and marketer of nickel-metal hydride (Ni-MH) and lithium rechargeable batteries and battery solutions, today announced financial results for the fourth quarter and year-ended December 31, 2012.

Fiscal Year 2012 Highlights

• Net sales of $112.6 million for fiscal year 2012, an increase of 2% over fiscal year 2011 sales of $110.6 million
• Continued strong performance in Lithium battery segment — lithium battery net sales up 67% in fiscal year 2012 over fiscal year 2011; total lithium battery pieces sold increased 48%; and a 74% increase in volume per ampere hour
• Gross margins of 21% in fiscal year 2012, compared to 16% in fiscal year 2011, a 500 basis point improvement
• Achieved full-year profitability; EPS attributable to Highpower International of $0.13 for fiscal year 2012, compared with a loss of ($0.18) in fiscal year 2011

Management Commentary

“We are pleased with our return to full year profitability in 2012 while we continued to make important investments to advance our position in the rechargeable battery industry,” said Mr. George Pan, Chairman and Chief Executive Officer of Highpower International. “During the past year, we continued to shift into higher margin lithium batteries, which has proven to be a very successful strategy with another year of 67% sales growth in this segment. We believe lithium and higher capacity batteries will continue to be a sustainable long-term growth driver for Highpower as we capitalize on robust end-market demand for mobile phones, tablets, energy storage and small-sized transportation vehicles.

“We believe 2013 will be a pivotal year for Highpower and have never felt more excited about our business. There are a number of important catalysts coming to fruition in the latter half of the year, which include the build out of our new battery and e-waste recycling business as well as the ramp up of our new manufacturing facility in Huizhou, Guangdong Province, which is expected to become fully operational at the end of the 2013. This will position us to better meet future demand in the years ahead,” concluded Mr. Pan.

Mr. Henry Sun, Chief Financial Officer of Highpower International, added, “We are delighted that Highpower returned to profitability in 2012 despite some softness in world economies and our ongoing investments in our business. In 2013, we expect continued strong growth in our lithium battery business and stable performance in our Ni-MH segment. While we will continue to make capital investments in 2013 for manufacturing equipment at our new facility in Huizhou and our recycling facility in Ganzhou, we believe that we will be able to remain profitable for the year, while at the same time positioning us for increased profitability and growth in 2014 and beyond.”

Fourth Quarter 2012 Financial Results

Net sales for the fourth quarter ended December 31, 2012 totaled $30.8 million, a year-over-year increase of 19% compared with $25.9 million for the fourth quarter ended December 31, 2011. The increase in sales for the fourth quarter of 2012 was primarily due to a 74% year-over-year sales increase in our lithium battery segment, which was offset with a slight decline in Ni-MH battery sales.

Fourth quarter 2012 gross profit increased to $6.4 million, as compared with $5.1 million for the fourth quarter of 2011. Gross profit margin was 21% for the fourth quarter 2012, as compared with 20% for the fourth quarter of 2011. The year-over-year increase in gross profit margin for the fourth quarter of 2012 was primarily due to higher sales volumes, lower commodity costs, and a greater percentage of higher-end battery products.

R&D spending was $1.3 million for the fourth quarter of 2012, as compared with $0.9 million for the comparable period in 2011, due to the increase in our workforce to expand our research and development and management functions.

General and administrative expenses, including non-cash stock-based compensation, were $3.2 million for the fourth quarter of 2012, as compared to $3.3 million for the fourth quarter of 2011.

Income from operations for the fourth quarter of 2012 was $0.8 million, as compared with loss from operations of $1.6 million for the fourth quarter of 2011.

Net income attributable to Highpower International for the fourth quarter of 2012 was $0.6 million, or $0.04 per diluted share, based on 13.6 million weighted average shares outstanding. This compares with fourth quarter 2011 net loss of ($1.9) million, or ($0.14) per diluted share, based on 13.6 million weighted average shares outstanding.

Full Year 2012 Financial Results

Net sales for the year ended December 31, 2012 totaled $112.6 million, a year-over-year increase of 2% compared with $110.6 million for the year ended December 31, 2011. The year-over-year increase was primarily due to a $15.2 million increase in net sales of lithium batteries and a $1.3 million increase in net sales of Ni-MH batteries, which was partly offset by a $14.5 million decrease in revenues from the Materials business as we shift away from materials trading to preparing for a materials processing and recycling platform.

Gross profit for 2012 increased to $23.7 million, as compared with $17.7 million for 2011. Gross profit margin was 21% for 2012, as compared with 16% for 2011. The higher gross profit margins in 2012 were primarily due to lower raw material costs and less revenue from the lower margin Materials business.

R&D spending was $4.6 million for 2012, as compared with $3.2 million for 2011, due to the increase in our workforce to expand our research and development and management functions. Selling and distribution costs were $5.3 million for 2012, as compared with $4.5 million for 2011, reflecting increased investment in sales and marketing, including participation in industry trade shows and expanded international sales efforts.

General and administrative expenses, including stock-based compensation, were $11.5 million for 2012, as compared to $9.7 million for 2011. The increase was primarily due to a $1.6 million increase in the provision for bad debt expenses for the year ended December 31, 2012.

Income from operations for 2012 was $2.8 million, as compared with loss from operations of $2.2 million for 2011.

Net income attributable to Highpower International for the year-ended December 31, 2012 was $1.7 million, or $0.13 per diluted share, based on 13.6 million weighted average shares outstanding. This compares with 2011 net loss attributable to Highpower International of $2.5 million, or ($0.18) per diluted share, based on 13.6 million weighted average shares outstanding.

Balance Sheet

At December 31, 2012, Highpower International had cash, cash equivalents and restricted cash totaling $34.3 million, total assets of $120.4 million, and stockholders’ equity of $31.2 million. Total debt was $54.6 million at December 31, 2012. Bank credit facilities totaled $69.2 million, of which $34.7 million was available at the end of the year.

Outlook

Based on our current expectations for global demand for the rechargeable battery market in 2013 and our continued shift toward mobile power sources, higher-value energy storage systems and transportation products, we expect revenues to grow between 15% to 20% over 2012 revenue levels. We expect to remain profitable for the full year in 2013.

Conference Call and Webcast

The Company will host a conference call today at 7:00 a.m. Pacific time/10:00 a.m. Eastern time to discuss these results and answer questions.

Individuals interested in participating in the conference call may do so by dialing 877-941-8609 from the U.S. or 480-629-9645 from outside the U.S. and referencing the reservation code 4608669. Those interested in listening to the conference call live via the Internet may do so by visiting the Investor Relations section of the Company’s Web site at www.highpowertech.com or www.InvestorCalendar.com.

About Highpower International, Inc.

Highpower International was founded in 2001 and produces high-quality Nickel-Metal Hydride (Ni-MH) and lithium-based rechargeable batteries used in a wide range of applications such as mobile devices, computer tablets, electric bikes, energy storage systems, power tools, medical equipment, digital and electronic devices, personal care products, and lighting, etc. With over 3,000 employees and advanced manufacturing facilities located in Shenzhen and Huizhou of China, Highpower is committed to clean technology, not only in the products it makes, but also in the processes of production. The majority of Highpower International’s products are distributed to worldwide markets mainly in the United States, Europe, China and Southeast Asia.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995 that are not historical facts. These statements can be identified by the use of forward-looking terminology such as “believe,” “expect,” “may,” “will,” “should,” “project,” “plan,” “seek,” “intend,” or “anticipate” or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and the Company’s future performance, operations and products. Such statements involve known and unknown risks, uncertainties and other factors that could cause the Company’s actual results to differ materially from the results expressed or implied by such statements. Such risks and uncertainties include, without limitation, the current economic downturn and uncertainty in the European economy adversely affecting demand for the Company’s products; fluctuations in the cost of raw materials; the Company’s dependence on, or inability to attract additional, major customers for a significant portion of its net sales; the Company’s ability to increase manufacturing capabilities to satisfy orders from new customers; the Company’s ability to complete the construction of its new facilities within the time frames and cost estimates currently anticipated; the Company’s ability to maintain increased margins; changes in the laws of the People’s Republic of China that affect the Company’s operations; the devaluation of the U.S. Dollar relative to the Renminbi; the Company’s dependence on the growth in demand for portable electronic devices and the success of manufacturers of the end applications that use the Company’s battery products; the Company’s responsiveness to competitive market conditions; the Company’s ability to successfully manufacture its battery products in the time frame and amounts expected; the Company’s ability to successfully develop products for and penetrate the electric transportation market; the Company’s ability to continue R&D development to keep up with technological changes; changes in foreign, political, social, business and economic conditions that affect the Company’s production capabilities or demand for our products; and various other matters, many of which are beyond the Company’s control.

For a more detailed discussion of these and other risks and uncertainties see “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s public filings, including the Company’s Form 10-K for the fiscal year ended December 31, 2011, its Form 10-Q reports for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012 filed with the SEC and its Form 10-K report for the year ended December 31, 2012 to be filed with the SEC. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Any forward-looking statement made by the Company in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company has no obligation to update the forward-looking information contained in this press release.

financial tables to follow

               HIGHPOWER INTERNATIONAL, INC. AND SUBSIDIARIES
   CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
                           (Stated in US Dollars)

                          For the three months
                                 ended               For the year ended
                              December 31,               December 31,
                            2012         2011         2012          2011

Net sales                30,800,194   25,850,327   112,648,705  110,600,477
Cost of sales           (24,384,461) (20,747,722)  (88,942,281) (92,852,899)
                        -----------  -----------  ------------  -----------

Gross profit              6,415,733    5,102,605    23,706,424   17,747,578
                        -----------  -----------  ------------  -----------
Research and
 development expenses    (1,345,764)    (937,273)   (4,611,054)  (3,239,436)
Selling and
 distribution expenses   (1,442,921)    (797,245)   (5,347,692)  (4,451,548)
General and
 administrative
 expenses, including
 stock-based
 compensation            (3,164,804)  (3,333,259)  (11,478,541)  (9,739,554)
Litigation expenses               -   (1,500,000)            -   (1,500,000)
Loss on exchange rate
 difference                (142,139)    (194,318)     (220,597)    (851,899)
Gain (loss) on
 derivative instruments     490,059       82,557       730,591      (54,229)
Equity loss in an
 associate                        -            -             -     (108,346)
                        -----------  -----------  ------------  -----------
Total operation
 expenses                (5,605,569)  (5,179,538)  (20,927,293) (19,945,012)
                        -----------  -----------  ------------  -----------

Income (loss) from
 operations                 810,164   (1,576,933)    2,779,131   (2,197,434)

Other income                226,359      294.789       630,842      752,875
Interest expenses          (327,842)    (180,627)     (705,218)    (545,884)
                        -----------  -----------  ------------  -----------

Income (loss) before
 taxes                      708,681   (1,462,771)    2,704,755   (1,990,443)
Income taxes expense       (189,126)    (394,461)   (1,132,340)    (463,556)
                        -----------  -----------  ------------  -----------

Net income (loss)           519,555   (1,857,232)    1,572,415   (2,453,999)
                        -----------  -----------  ------------  -----------

Less: net loss
 attributable to non-
 controlling interest       (46,207)           -      (144,607)           -
Net income (loss)
 attributable to the
 Company                    565,762   (1,857,232)    1,717,022   (2,453,999)
                        -----------  -----------  ------------  -----------

Comprehensive income
Net income (loss)           519,555   (1,857,232)    1,572,415   (2,453,999)
Foreign currency
 translation gain           307,049      751,829       532,918    1,972,214
                        -----------  -----------  ------------  -----------
Comprehensive income
 (loss)                     826,604   (1,105,403)    2,105,333     (481,785)
                        ===========  ===========  ============  ===========

Less: comprehensive
 loss attributable to
 non-controlling
 interest                   (39,922)           -      (146,932)           -
Comprehensive income
 (loss) attributable to
 the Company                866,526   (1,105,403)    2,252,265     (481,785)
                        ===========  ===========  ============  ===========

Earnings (loss) per
 share of common stock
 attributable to the
 Company
  - Basic and diluted          0.04        (0.14)         0.13        (0.18)
                        ===========  ===========  ============  ===========

Weighted average common
 shares outstanding
  - Basic and diluted    13,582,106   13,582,106    13,582,106   13,582,106
                        ===========  ===========  ============  ===========

               HIGHPOWER INTERNATIONAL, INC. AND SUBSIDIARIES
                         CONSOLIDATED BALANCE SHEETS
                           (Stated in US Dollars)

                                                   December 31, December 31,
                                                       2012         2011
                                                   ------------ ------------
ASSETS
  Current Assets:
  Cash and cash equivalents                           6,627,334    5,175,623
  Restricted cash                                    27,695,569   12,708,999
  Accounts receivable, net                           25,323,899   21,129,418
  Notes receivable                                      392,242      515,107
  Prepayments                                         3,223,795    4,251,723
  Other receivables                                     802,907    1,041,614
  Inventories                                        16,719,807   13,512,942
                                                   ------------ ------------

  Total Current Assets                               80,785,553   58,335,426
                                                   ============ ============

  Property, plant and equipment, net                 33,462,369   25,462,656
  Land use right, net                                 4,423,348    3,132,965
  Intangible asset, net                                 700,000      750,000
  Deferred tax assets                                   762,954      857,209
  Foreign currency derivatives assets                   255,508       15,653
                                                   ------------ ------------

TOTAL ASSETS                                        120,389,732   88,553,909
                                                   ============ ============

LIABILITIES AND STOCKHOLDERS' EQUITY

LIABILITIES
  Current Liabilities:
  Accounts payable                                   27,509,195   22,153,822
  Deferred revenue                                      661,178            -
  Short-term bank loan                               20,478,604    9,545,383
  Notes payable                                      26,397,200   17,909,843
  Letter of credit                                            -    2,880,000
  Other payables and accrued liabilities              4,485,918    6,941,063
  Income taxes payable                                1,180,469      411,536
  Current portion of long-term loan                   1,925,762            -
                                                   ------------ ------------

  Total Current Liabilities                          82,638,326   59,841,647
                                                   ------------ ------------

  Long-term bank loan                                 5,777,286            -

TOTAL LIABILITIES                                    88,415,612   59,841,647
                                                   ============ ============

COMMITMENTS AND CONTINGENCIES

                HIGHPOWER INTERNATIONAL, INC AND SUBSIDIARIES
                   CONSOLIDATED BALANCE SHEETS (CONTINUED)
                           (Stated in US Dollars)

                                                   December 31, December 31,
                                                       2012         2011
                                                   ------------ ------------
EQUITY
  Stockholder's equityPreferred stock
  (Par value: $0.0001, authorized: 10,000,000
   shares, Issued and outstanding: none)                      -            -

  Common stock
  (Par value: $0.0001, authorized: 100,000,000
   shares, 13,582,106 shares issued and
   outstanding at December 31, 2012 and 2011)             1,358        1,358
  Additional paid-in capital                          6,035,230    5,831,237
  Statutory and other reserves                        2,790,484    2,726,390
  Retained earnings                                  17,291,584   15,638,656
  Accumulated other comprehensive income              5,049,864    4,514,621
                                                   ------------ ------------

Total Equity for the Company's Stockholders          31,168,520   28,712,262
                                                   ------------ ------------

  Non-controlling interest                              805,600            -

TOTAL EQUTIY                                         31,974,120   28,712,262
                                                   ============ ============

TOTAL LIABILITIES AND EQUITY                        120,389,732   88,553,909
                                                   ============ ============

               HIGHPOWER INTERNATIONAL, INC AND SUBSIDIARIES
                   CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (Stated in US Dollars)

                                                     For the year ended
                                                        December 31,
                                                     2012          2011
Cash flows from operating activities
  Net income (loss)                                 1,572,415    (2,453,999)
  Adjustments to reconcile net income to net
   cash provided by operating activities:
    Depreciation and amortization                   2,090,403     1,848,824
    Allowance for doubtful accounts                 1,744,655       387,734
    Loss on disposal of property, plant and
     equipment                                         71,473        24,279
    Equity loss in an associate                             -       108,346
    Loss on derivative instruments                   (236,709)       54,229
    Deferred income tax                               102,614       (27,532)
    Share based payment                               203,993       650,919
  Changes in operating assets and liabilities:
    Accounts receivable                            (5,650,965)      179,538
    Notes receivable                                  127,414      (241,465)
    Prepayments                                     1,063,693    (1,936,925)
    Other receivables                                 248,026      (225,015)
    Inventories                                    (3,020,127)    1,380,674
    Accounts payable                                6,624,896     3,107,868
    Deferred revenue                                  653,015
    Other payables and accrued liabilities         (2,503,482)    1,630,890
    Income taxes payable                              754,589      (793,633)
                                                 ------------  ------------
Net cash flows provided by operating activities     3,845,903     3,694,732
                                                 ------------  ------------

Cash flows from investing activities
  Acquisition of property, plant and equipment    (11,646,583)   (7,674,215)
  Acquisition of land use right                    (1,327,754)            -
                                                 ------------  ------------
Net cash flows used in investing activities       (12,974,337)   (7,674,215)
                                                 ------------  ------------

Cash flows from financing activities
  Proceeds from bank borrowings                    14,627,171    13,936,095
  Repayment of bank borrowings                     (3,776,533)  (16,186,300)
  Proceeds from notes payable                      46,359,978    36,655,387
  Repayment of notes payable                      (38,188,330)  (29,407,905)
  Proceeds from letter credit                               -    11,403,244
  Repayment of letter credit                       (2,880,000)   (9,916,133)
  Proceeds from long term bank loans                7,924,935             -
  Repayment of long term bank loans                  (316,997)            -
  Proceeds from non-controlling interest              950,992             -
  Increase in restricted cash                     (14,696,735)   (6,279,671)
                                                 ------------  ------------
Net cash flows provided by financing activities    10,004,481       204,717
                                                 ------------  ------------
Effect of foreign currency translation on cash
 and cash equivalents                                 575,664       459,760
                                                 ------------  ------------
Net increase (decrease) in cash and cash
 equivalents                                        1,451,711    (3,315,006)
Cash and cash equivalents - beginning of year       5,175,623     8,490,629
                                                 ------------  ------------
Cash and cash equivalents - end of year             6,627,334     5,175,623
                                                 ============  ============

Financial Profiles, Inc.
Tricia Ross
+1-916-939-7285

Dejour (DEJ) Contracts Patterson Drilling & Halliburton for Kokopelli Development

Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ), an independent oil and natural gas exploration and production company operating in North America’s Piceance Basin and Peace River Arch regions, today provides an update on field operations at its 72% owned and operated Kokopelli project in Western Colorado.

The Company remains on schedule for the start-up of a new three well drilling program at Kokopelli before the end of March. Mobilization of Patterson-UTI (NASDAQ: PTEN) Rig #313 to Dejour’s Drill Pad 21-A has begun. At the conclusion of the three well program, the Company has contracted with Halliburton (NYSE: HAL) to commence completion of all four wells (including Federal Well 6-7-16-21 which was drilled in November).

Dejour is currently finalizing a gas transportation and processing agreement with a major midstream operator in the Piceance. Under the terms of the agreement, Dejour will maintain ownership of all NGL’s recovered at the third party processing plant and sell both the NGL’s and the residual gas at the tailgate of the plant.

“We are beginning the process of converting the Kokopelli asset from a proven undeveloped and probable reserve to a proven developed producing reserve that we expect to grow with time to over a net 120 BCF natural gas with 15 MM barrels of condensate/liquids in the Williams Fork,” says Harrison Blacker, Dejour COO.

Of significant interest to the Company are recent activities targeting the deeper Niobrara-Mancos zones in proximity to Dejour leaseholds within the Piceance Basin.

A recent announcement by WPX Energy (NYSE: WPX) of a successfully completed Lower Mancos (Niobrara) Hz producer, in Garfield County, states that a new producer has averaged 12 MMCF/d of restricted flow production during the first 30 days. WPX further announced its intention to drill 2 additional Hz wells in 2013 adding that the encouraging production results of these new wells indicate that the Piceance Basin recoveries, including the Niobrara-Mancos, offer the potential to at least double the Company’s net reserves in the Piceance.

“We are also very excited about the activities of a Texas based E&P company currently testing a 4,600’ horizontal leg of an 11,700’ deep Mancos well less than 5 miles to the west of our Kokopelli location,” Blacker continues.

Dejour has over 7,500 net acres of land prospective for Niobrara-Mancos contingent resources in this Basin. The WPX well is situated between Dejour’s Kokopelli and Roan Creek leaseholds.

About Dejour

Dejour Energy Inc. is an independent oil and natural gas exploration and production company operating projects in North America’s Piceance Basin and environs (approximately 129,000 net acres) and Peace River Arch regions (approximately 8,500 net acres). Dejour’s seasoned management team has consistently been among early identifiers of premium energy assets, repeatedly timing investments and transactions to realize their value to shareholders’ best advantage. Dejour maintains offices in Denver, USA, Calgary and Vancouver, Canada. The company is publicly traded on the New York Stock Exchange MKT (NYSE MKT: DEJ) and Toronto Stock Exchange (TSX: DEJ).

Statements Regarding Forward-Looking Information: This news release contains statements about oil and gas production and operating activities that may constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities legislation as they involve the implied assessment that the resources described can be profitably produced in the future, based on certain estimates and assumptions. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated by Dejour and described in the forward- looking statements. These risks, uncertainties and other factors include, but are not limited to, adverse general economic conditions, operating hazards, drilling risks, inherent uncertainties in interpreting engineering and geologic data, competition, reduced availability of drilling and other well services,

fluctuations in oil and gas prices and prices for drilling and other well services, government regulation and foreign political risks, fluctuations in the exchange rate between Canadian and US dollars and other currencies, as well as other risks commonly associated with the exploration and development of oil and gas properties. Additional information on these and other factors, which could affect Dejour’s operations or financial results, are included in Dejour’s reports on file with Canadian and United States securities regulatory authorities. We assume no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change unless otherwise required under securities law.

BOE Presentation: Barrel of oil equivalent amounts have been calculated using a conversion rate of six thousand cubic feet of gas to one barrel of oil. The term “BOE” may be misleading if used in isolation. A BOE conversion ratio of one barrel of oil to six mcf of gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head. Total BOEs are calculated by multiplying the daily production by the number of days in the period.

Cardero (CDY) Secures Access to Coal Transportation Barge

VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 03/21/13 — Cardero Resource Corp. (“Cardero” or the “Company”) (TSX:CDU)(NYSE MKT:CDY)(FRANKFURT:CR5) announces that Cardero Coal Ltd. (“Cardero Coal”) has signed a letter of intent (“LOI”) with Canadian Forest Products Ltd. (“Canfor”) outlining the terms under which Cardero Coal will charter the MV Williston Transporter for transportation of metallurgical coal from Carbon Creek to the railhead at Mackenzie, BC. This charter party arrangement will terminate at the end of 2015, at which time it is anticipated that Cardero Coal’s purpose-built tug and barge will be commissioned to transport coal through the remainder of the currently proposed mine life.

Under the terms of the LOI, the Companies will enter into two definitive agreements, being a Charter Party relating to the MV Williston Transporter and a Timber Harvesting Agreement relating to mine site logging prior to mine construction. Cardero Coal will pay for the charter of the MV Williston Transporter, but anticipates receiving revenue from the logging of the mine site under the Timber Harvesting Agreement.

MV Williston Transporter

Cardero Coal intends to transport coal from the proposed Carbon Creek mine site to the railhead at Mackenzie via the Williston Reservoir, using a tug and barge system. It is anticipated that Cardero Coal’s purpose-built tug and barge solution will be constructed on site at Mackenzie. A Request for Qualification has been circulated to engineering firms with marine experience and responses are currently under review. It is anticipated that the final design and tender process will begin in Q2 and will be completed in early Q3 2013.

Cardero Coal intends to use the MV Williston Transporter as an interim solution during construction, initial production and ramp-up at Carbon Creek. The MV Williston Transporter is a 360 foot, 7,400 horsepower, self-propelled ice-breaking barge with a deadweight capacity of 4,000 tonnes. The vessel was constructed for Canfor Mackenzie in 1994 by Findlay Navigation, who began operations in 1968 as a marine towing business, operating tugs and barges on Williston Reservoir.

The vessel was built on the shores of the Williston Reservoir and has been in service since 1995, providing year-round transportation services for forestry and mining industries located on the shores of the reservoir. The vessel will be chartered by Cardero Coal, on a bareboat basis, in July 2014 for 18 months and will initially assist with transportation of mine construction plant and materials from Mackenzie railhead to the mine site. Once initial coal has been produced, it is planned that the vessel will switch to metallurgical coal transportation from the mine site to Mackenzie. Since the vessel can be loaded directly from shore, it will not be necessary to complete construction of material handling systems prior to shipping the first product.

To view the photos accompanying this release, please visit the following link: http://media3.marketwire.com/docs/cdu321i.pdf

The foregoing arrangements are subject to, amongst other things, the settlement and execution of the definitive Charter Party and Timber Harvesting Agreement and receipt of all required approvals and consents.

ABOUT CARBON CREEK

The Carbon Creek Metallurgical Coal Deposit is the Company’s flagship asset. Carbon Creek is an advanced metallurgical coal development project located in the Peace River Coal District of northeast British Columbia, Canada. The project has a current reserve of 121 million tonnes, included within a 468 million tonne measured and indicated resource, of ASTM Coal Rank mvB coal. Mineral resources are not mineral reserves and there is no assurance that any of the additional mineral resources that are not already classified as reserves will ultimately be reclassified as proven or probable reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Having completed acquisition of the project in June 2011, the Company released results of an independent preliminary economic assessment in December 2011, followed by a Prefeasibility Study (“PFS”) in September 2012. The PFS estimates an undiscounted cash flow of $2.2 billion, an NPV8 of $633 million, and an IRR of 24% (all on a post-tax, 75% basis). The Company is currently undertaking a bankable feasibility study on the project.

For details with respect to the work done to date and the assumptions underlying the current resource and reserve estimates and PFS, see the technical report entitled “Technical Report, Prefeasibility Study of the Carbon Creek Coal Property, British Columbia, Canada” dated November 6, 2012 with an effective date of September 20, 2012 and available under the Company’s profile at www.sedar.com.

EurGeol Keith Henderson, PGeo, Cardero’s Executive Vice President and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis of this news release, and has approved the disclosure herein. Mr. Henderson is not independent of the Company, as he is an officer and shareholder.

ABOUT CARDERO RESOURCE CORP.

The common shares of the Company are currently listed on the Toronto Stock Exchange (symbol CDU), the NYSE-MKT (symbol CDY) and the Frankfurt Stock Exchange (symbol CR5). For further details on the Company readers are referred to the Company’s web site (www.cardero.com), Canadian regulatory filings on SEDAR at www.sedar.com and United States regulatory filings on EDGAR at www.sec.gov.

On Behalf of the Board of Directors of CARDERO RESOURCE CORP.

Hendrik Van Alphen, CEO and President

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and US securities legislation. All statements regarding the discovery and delineation of mineral deposits/resources/reserves, the potential settlement and execution of formal documentation with respect to the charter of the MV Williston Transporter and the harvesting of timber at the planned Carbon Creek minesite, the potential to use the MV Williston Transporter to carry construction materials to the minesite and to carry first production coal to railhead, the potential for revenue from timber harvesting at the Company’s planned minesite, the potential for the making of a production decision to proceed with a mine at Carbon Creek, the potential commencement of any development of a mine at the Carbon Creek deposit following a production decision, the potential for any production from the Carbon Creek deposit, business and financing plans and business trends, are forward-looking statements. Information concerning mineral resource/reserve estimates and the economic analysis thereof contained in the prefeasibility study may also be deemed to be forward-looking statements in that it reflects a prediction of the mineralization that would be encountered, and the results of mining it, if a mineral deposit were developed and mined. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.

Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market for, and pricing of, any mineral products the Company may produce or plan to produce, significant increases in any of the machinery, equipment or supplies required to develop and operate a mine at Carbon Creek, a significant change in the availability or cost of the labor force required to operate a mine at Carbon Creek, significant increases in the cost of transportation for the Company’s products, the Company’s inability to obtain any necessary permits, consents or authorizations required for its activities, the Company’s inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies (including the use of the MV Williston Transporter), and other risks and uncertainties disclosed in the Company’s 2013 Annual Information Form filed with certain securities commissions in Canada and the Company’s 2013 annual report on Form 20-F filed with the United States Securities and Exchange Commission (the “SEC”), and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and its United States public disclosure filings may be accessed via www.sec.gov, and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.

Cautionary Note Regarding References to Resources and Reserves

National Instrument 43 101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Unless otherwise indicated, all resource estimates contained in or incorporated by reference in this press release have been prepared in accordance with NI 43-101 and the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) Standards on Mineral Resource and Mineral Reserves, adopted by the CIM Council on November 14, 2004 (the “CIM Standards”) as they may be amended from time to time by the CIM, and in the Geological Survey of Canada Paper 88-21 entitled “A Standardized Coal Resource/Reserve Reporting System for Canada” originally published in 1988 (the “GSC Paper”).

United States shareholders are cautioned that the requirements and terminology of NI 43-101, the CIM Standards and the GSC Paper differ significantly from the requirements and terminology of the SEC set forth in the SEC’s Industry Guide 7 (“SEC Industry Guide 7”). Accordingly, the Company’s disclosures regarding mineralization may not be comparable to similar information disclosed by companies subject to SEC Industry Guide 7. Without limiting the foregoing, while the terms “mineral resources”, “inferred mineral resources”, “indicated mineral resources” and “measured mineral resources” are recognized and required by NI 43-101 and the CIM Standards, they are not recognized by the SEC and are not permitted to be used in documents filed with the SEC by companies subject to SEC Industry Guide 7. Mineral resources which are not mineral reserves do not have demonstrated economic viability, and US investors are cautioned not to assume that all or any part of a mineral resource will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility study, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit amounts. In addition, the NI 43-101 and CIM Standards definition of a “reserve” differs from the definition in SEC Industry Guide 7. In SEC Industry Guide 7, a mineral reserve is defined as a part of a mineral deposit which could be economically and legally extracted or produced at the time the mineral reserve determination is made, and a “final” or “bankable” feasibility study is required to report reserves, the three-year historical price is used in any reserve or cash flow analysis of designated reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

NR13-07

Contacts:
Cardero Resource Corp.
Andrew Muir
604 638-3287

Cardero Resource Corp.
General Contact
604 408-7488 or Toll Free: 1-888-770-7488
604 408-7499 (FAX)
info@cardero.com

Anacor (ANAC) Positive Results Phase 2 AN2728 Atopic Dermatitis

Anacor Pharmaceuticals (NASDAQ:ANAC) today announced positive results from a Phase 2 dose-ranging trial (AN2728-AD-204) of its topical boron-based phosphodiesterase-4 (PDE-4) inhibitor, AN2728. The study included 86 adolescents (ages 12 – 17) with mild-to-moderate atopic dermatitis, a chronic rash which predominantly affects children and is characterized by inflammation and itching. In this study, lesions treated with AN2728 ointment, 2.0% twice daily for 28 days achieved a 71% improvement from baseline in their Atopic Dermatitis Severity Index (ADSI) score, with 66% of lesions in this treatment group achieving total or partial clearance. AN2728 was generally safe and well-tolerated. Most adverse events were mild and largely unrelated to study drug.

“These results demonstrate a clear dose response across the four dosing regimens and identify the AN2728 ointment, 2.0% BID dosing regimen as optimal for a Phase 3 program, which we expect to initiate around the end of 2013,” said David Perry, Chief Executive Officer of Anacor Pharmaceuticals. “In all arms of the study, lesions treated with AN2728 ointment improved throughout the 28 day treatment period. The majority of the improvement occurred within the first week of treatment, which is important to both patients and physicians. AN2728 also continues to demonstrate an excellent safety profile – a key factor in treating this disease that primarily affects children.”

“There is a tremendous clinical need for safe and effective treatments for pediatric atopic dermatitis. It is very exciting to see these promising positive data for a novel molecule with excellent anti-inflammatory properties and that appears very safe to use,” said Lawrence F. Eichenfield, M.D., Chief of Pediatric and Adolescent Dermatology and Professor of Pediatrics and Medicine (Dermatology) at Rady Children’s Hospital, University of California, San Diego. “AN2728 has the potential to be an outstanding addition to the treatment armamentarium for physicians and a great benefit to children with atopic dermatitis.”

The Phase 2 randomized, double-blind, bilateral study enrolled adolescent patients with mild-to-moderate atopic dermatitis. Patients were randomized 1:1 to either once daily (QD) or twice daily (BID) application for 28 days. Patients were instructed to apply AN2728 ointment, 2.0% to one target lesion and AN2728 ointment, 0.5% to a comparable target lesion. The primary endpoint was the change from baseline ADSI score, which is the sum of the severity scores of five clinical features (erythema, pruritus, exudation, excoriation and lichenification) from 0 (none) to 3 (severe) for each feature, for a total score of 0 to 15. Additional endpoints included differences in ADSI component subscores and safety.

A clear dose response was demonstrated in this study, with AN2728 ointment, 2.0% BID yielding the greatest improvement. At Day 29, the following results were observed:

About Atopic Dermatitis and Current Treatment Options

Atopic dermatitis is a chronic rash characterized by inflammation and itching. In 2007, Datamonitor reported that atopic dermatitis affected approximately 40 million people across the seven major pharmaceutical markets. The condition most commonly appears in childhood, with up to 20% of children in the United States affected, and it can persist into adulthood. Skin affected by atopic dermatitis can often be broken from scratching which can allow bacterial or viral access and lead to secondary infections. Current atopic dermatitis treatments attempt to reduce inflammation and itching to maintain the protective integrity of the skin. Antibiotics, antihistamines, topical corticosteroids and topical immunomodulators, either as monotherapy or in combination, are the current standard of care for atopic dermatitis. However, these can be limited in utility due to insufficient efficacy, side effects or safety concerns. The most recently approved novel topical treatments for atopic dermatitis were topical immunomodulators, Protopic (tacrolimus) and Elidel (pimecrolimus), approved in 2000 and 2001, respectively. Protopic and Elidel achieved combined sales of over $500 million in 2004, prior to receiving Black Box warnings from the FDA in early 2005.

Conference Call and Webcast

Anacor will host a conference call today at 8:00 a.m. ET / 5:00 a.m. PT to discuss the results of this Phase 2 trial in atopic dermatitis. The call can be accessed by dialing (877) 291-1367 (domestic) and (914) 495-8534 (international) five minutes prior to the start of the call. The call will also be webcast live and can be accessed on the Events and Presentations page, under Investors, on the company’s website at www.anacor.com and will be available for three months following the call.

About Anacor Pharmaceuticals

Anacor is a biopharmaceutical company focused on discovering, developing and commercializing novel small-molecule therapeutics derived from its boron chemistry platform. Anacor has discovered eight compounds that are currently in development. Its two lead product candidates are topically administered dermatologic compounds — tavaborole, an antifungal for the treatment of onychomycosis, and AN2728, an anti-inflammatory PDE-4 inhibitor for the treatment of atopic dermatitis and psoriasis. In addition to its two lead programs, Anacor has discovered three other wholly-owned clinical product candidates — AN2718 and AN2898, which are backup compounds to tavaborole and AN2728, respectively, and AN3365 (formerly referred to as GSK2251052, or GSK ‘052), an antibiotic for the treatment of infections caused by Gram-negative bacteria, which previously was licensed to GlaxoSmithKline LLC, or GSK. GSK has returned all rights to the compound to us and we are considering our options for further development, if any, of this compound. We have also discovered three other compounds that we have out-licensed for further development — two are licensed to Eli Lilly and Company for the treatment of animal health indications and the third compound, AN5568, also referred to as SCYX-7158, is licensed to Drugs for Neglected Diseases initiative, or DNDi, for human African trypanosomiasis (HAT, or sleeping sickness). We also have a pipeline of other internally discovered topical and systemic boron-based compounds in development. For more information, visit http://www.anacor.com.

Forward-Looking Statements

This press release may contain forward-looking statements that relate to future events including the development of AN2728, the representative nature of the Phase 2 study and reported results as indicative of future clinical trials in support of regulatory approval, and the timing and potential for initiation, enrollment and conduct of future trials of AN2728 in atopic dermatitis. These forward looking statements involve known and unknown risks, uncertainties and other factors that could cause actual levels of activity, performance or achievement to differ materially from those expressed or implied by these forward-looking statements, including risks related to enrollment and successful completion of our trials, risk of unforeseen side effects and risks related to regulatory approval of new drug candidates. These statements reflect the views of Anacor as of the date of this press release with respect to future events and, except as required by law, it undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this press release.

Cover-All (COVR) Announces 2012 Fourth Quarter and Year End Financial Results

Two New Customers Select Cover-All’s New Policy & Studio Solutions and Four Existing Customers Upgrade with multi-year contracts in last Six Months of 2012 Momentum Continues into 2013 with 1 New Customer and 1 Existing Customer Upgrade

Cover-All Technologies Inc. (NYSE MKT: COVR), a Delaware corporation (“Cover-All” or the “Company”), today announced financial results for the fourth quarter and year ended December 31, 2012.

Financial Highlights:

• For the full year 2012, revenue was $16.2 million, compared to $17.6 million for the full year 2011.
• Earnings before interest, taxes, depreciation and amortization (“EBITDA”*), a non-GAAP metric, was $(1,087,986) for 2012, or $(0.04) per basic and diluted share, compared to $3.0 million, or $0.12 per basic and diluted share, for 2011.
• The Company’s balance sheet remains strong with stockholders’ equity at $13.1 million as of December 31, 2012. The Company completed 2012 with $1.4 million in cash and cash equivalents.

Operational Highlights:

• Cover-All expanded its new suite of fully built out ISO® products built with the most modern technologies which already includes ISO® Commercial Automobile, Commercial Package – Property, general liability, inland marine, crime and fidelity as well as Workers Compensation with the addition of the Business owners (BOP) product. We believe these products represent the only fully built out ISO® products using modern technology available in the marketplace today. The products support the rate, quote, issuance, subsequent transactions and statistical reporting of these lines of business.
• Cover-All announced the creation of Dev Studio (scheduled for general release in Q2, 2013) which enables customers to create, modify or maintain their own insurance products on the Cover-All Policy Solution platform. This capability combined with the unmatched functionality of the Cover-All prebuilt ISO® and NCCI® products give customers and prospects the choices they need to meet their specific business needs.
• Cover-All announced the availability of Cover-All Test Studio, an automated testing tool.
• Cover-All announced the availability of Cover-All Policy Conversion Studio to facilitate the conversion of policies from legacy systems to Cover-All Policy on renewal.

Recent Customer Announcements:

• Society Insurance, a multi-line commercial property and casualty (P&C) insurance company specializing in niche business, selected Cover-All Policy to modernize Society’s entire policy platform, including rating, quoting, underwriting, policy servicing, document generation/management and distribution.
• Triple-S Propiedad, a Puerto Rico-based underwriter of property and casualty insurance policies, will implement the new version of Cover-All Policy to handle the company’s commercial auto and commercial package (including property, general liability, inland marine and crime) property and casualty (P&C) lines of business.

John Roblin, Chairman of the Board of Directors and Chief Executive Officer of the Company, commented, “2012 was a challenging year. Entering the year we projected that 2012 would be our sixth record revenue year driven by in part by expected customer upgrades to our exciting new Policy solution and in part by our belief that the marketplace would embrace our innovative solution as well. Our projections were based on certain timing estimates that proved to be overly optimistic in a competitive environment. We welcomed the opportunity to show what our software, our technology and our people can do and we believe the eight affirmative decisions – 3 new customers and 5 upgrades – in the last half of 2012 and to date in 2013 justify that approach and validate the quality and versatility of our software, technology and people.

“Our reported financial results for 2012 are below our own expectations. However, I believe a closer look will tell a better story. Our 2012 revenues of $16.2 million were lower than our projection of $19 million. However, we had reached agreements with two customers very late in the year but we were not able to recognize the associated license revenue in 2012. The combined license revenue for these two agreements totals $3.1 million and should be recognized in Q1, 2013 which will give us a great start to 2013. In addition, our professional services backlog has grown to more than $4.5 million and we expect to earn this ratably in 2013 and 2014. Each of these eight new agreements is for a minimum of five years.

“Expenses increased 30% over 2011 due primarily to the increase in amortization (up 120%), increase in Sales and Marketing (44%), and the integration of the Bluewave Claims acquisition. Our profitability was impacted significantly by the size of our amortization of capitalized computer software of $3.5 million, or $0.14 per share, more than double the 2011 amount $(1.5 million), or $(0.06) per share. This non cash item will continue as we amortize the investment in software over three years. Largely as a result of amortization, we have suggested that EBITDA may be a useful measure to evaluate our results. For 2012, we are reporting an EBITDA loss of $(1.1 million), or $(0.04) per share.

“Lastly, we invested aggressively in expanding our offerings with investments in Policy, Dev Studio, Claims, Test Studio, BOP and much more. In addition, we invested heavily in Sales and Marketing. We believe that our recent customer “wins” are largely attributable to these investments as well as the significant investments in recent years. Our strategy is focused on providing outstanding and innovative products and services to the property and casualty and is focused building value for investors, customers and employees. We believe we made significant progress in 2012 and are well positioned for 2013.

“We are in the process of a strategic transformation from a niche player to a provider of comprehensive and industry acclaimed solutions for the entire breadth of the property and casualty insurance industry. In recent years, we augmented our solutions through development and accretive acquisitions, garnering praise from leading industry analysts and interest from increasingly large number of potential customers. This culminated in a flurry of wins at the end of the year, but due to the timing of the deployments, some of this activity will benefit the first quarter and fiscal 2013.”

Financial Results for the Year Ended December 31, 2012

Total revenues for the year ended December 31, 2012 were $16.2 million, compared to $17.6 million in 2011. License revenue was $3.9 million in 2012, compared to $4.8 million in 2011. Approximately $3.1 million in contracts were signed as of December 31, 2012, but due to deployment schedules, the Company will recognize the revenue from these agreements in the first quarter of 2013. Support Services revenue (which represents contracted continuing revenue) was $8.3 million in 2012, compared to $8.3 million in 2011. Professional Services revenue was $4.0 million in 2012, compared to $4.5 million in 2011.

Total expenses (cost of revenue and operating expenses) for 2012 were $21.3 million, compared to $16.4 million in 2011. EBITDA*, a non-GAAP metric, was $(1,087,986), or $(0.04) per basic and diluted share, for 2012, compared to $3.0 million, or $0.12 per basic and diluted share, for 2011. Net loss for 2012 was $5.0 million, or $0.19 per basic and diluted share (based on 25,869,969 million basic and diluted weighted average shares), compared to net income of $1.2 million, or $0.05 per basic and diluted share (based on 25.3 million basic and 26.0 million diluted weighted average shares, respectively), for 2011. The Company recorded an income tax expense (benefit) of $257,928 in 2012, with no income tax expense (benefit) in 2011.

Mr. Roblin continued, “As we enter 2013, we are focused on delivering the value and services that our customers – both old and new – expect, continue to invest in, develop and roll out new and exciting capabilities to be viewed as a leader in the marketplace, expand sales and marketing and have a primary focus on growth while working to balance spending to revenues. Our decision to borrow money last year to preserve the investment momentum has been largely vindicated by our recent contracts and the industry excitement about our new products. However, we will also be focused on engineering our organization for improved efficiencies and effectiveness by leveraging our new capabilities.

“The expected $3.1 million in new license revenue in Q1, 2013 will give us a great start for the year. Our professional services backlog has reached approximately $4.5 million, and we expect to recognize this throughout 2013 and in 2014. In addition, we continue to pursue joint opportunities with both new and existing customers. As the word spreads about our customer “wins”, the marketplace is giving us more “at bats” and we are extremely competitive. Cover-All has demonstrated the ability to beat much larger competitors, due to our entirely new, fully integrated and highly flexible offering.”

Financial Results for the Fourth Quarter Ended December 31, 2012

Total revenues for the three months ended December 31, 2012 were $4.0 million, compared to $4.0 million for the same period in 2011. License revenue for the fourth quarter of 2012 was $1.3 million, compared to $923,000 for the same period in 2011. Support Services revenue (which represents contracted continuing revenue) was $1.8 million for the fourth quarter of 2012, compared to $2.1 million for the same period in 2011. Professional Services revenue for the fourth quarter of 2012 was $0.9 million, compared to $1.0 million for the same quarter in 2011.

Total expenses (cost of revenue and operating expenses) for the three months ended December 31, 2012 increased to $6.1 million, from $4.1 million in the same quarter last year. EBITDA*, a non-GAAP metric, was $(897,746), or $(0.03) per basic and diluted share, for the fourth quarter of 2012, compared to $543,000, or $0.03 per basic and diluted share, for the fourth quarter of 2011. Net loss for the three months ended December 31, 2012 was $1.9 million, or $0.08 per basic and diluted share (based on 25.9 million basic and 25.9 million diluted weighted average shares, respectively), compared to net income of $8,000, or $0.00 per basic and diluted share (based on 24.6 million basic and 25.1 million diluted weighted average shares, respectively), in the same quarter of 2011.

Balance Sheet

Stockholders’ equity was $13.1 million as of December 31, 2012 compared to $16.9 million as of December 31, 2011. Total assets increased to $20.8 million as of December 31, 2012 compared to $20.5 million as of December 31, 2011. As of December 31, 2012, the Company had $1.4 million in cash and cash equivalents.

Conference Call Information

Management will conduct a live teleconference to discuss its financial results at 4:30 p.m. ET on Wednesday, March 20, 2013. Anyone interested in participating should call 1-877-941-2068 if calling from the United States, or 1-480-629-9712 if dialing internationally. A replay will be available until March 27 2013, which can be accessed by dialing 1-877-870-5176 within the United States and 1-858-384-5517 if dialing internationally. Please use passcode 4605834 to access the replay.

In addition, the call will be webcast and will be available on the Company’s website at www.cover-all.com or by visiting http://public.viavid.com/index.php?id=103791.

*Use of Non-GAAP Financial Measures

In evaluating its business, Cover-All considers and uses EBITDA as a supplemental measure of its operating performance. The Company defines EBITDA as earnings before interest, taxes, depreciation and amortization. The Company presents EBITDA because it believes it is frequently used by securities analysts, investors and other interested parties as a measure of financial performance.

The term EBITDA is not defined under U.S. generally accepted accounting principles (“U.S. GAAP”) and is not a measure of operating income, operating performance or liquidity presented in accordance with U.S. GAAP. EBITDA has limitations as an analytical tool, and when assessing the Company’s operating performance, investors should not consider EBITDA in isolation or as a substitute for net income (loss) or other consolidated income statement data prepared in accordance with U.S. GAAP. Among other things, EBITDA does not reflect the Company’s actual cash expenditures. Other companies may calculate similar measures differently than Cover-All, limiting their usefulness as comparative tools. Cover-All compensates for these limitations by relying on its U.S. GAAP results and using EBITDA only supplementally.

About Cover-All Technologies Inc.

Cover-All Technologies Inc., since 1981, has been a leader in developing sophisticated software solutions for the property and casualty insurance industry – the first to deliver PC-based commercial insurance rating and policy issuance software. Currently, Cover-All is building on its reputation for quality insurance solutions, knowledgeable people and outstanding customer service by creating new and innovative insurance solutions that leverage the latest technologies and bring its customers outstanding capabilities and value. With its extensive insurance knowledge, experience and commitment to quality, Cover-All continues its tradition of developing technology solutions designed to revolutionize the way the property and casualty insurance business is conducted.

Additional information is available online at www.cover-all.com.

Cover-All®, My Insurance Center™ (MIC) NexGen, Insurance Policy Database™ (IPD) and PipelineClaims^TM are trademarks or registered trademarks of Cover-All Technologies Inc. All other company and product names mentioned are trademarks or registered trademarks of their respective holders.

Forward-looking Statements

Statements in this press release, other than statements of historical information, are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks which may cause the Company’s actual results in future periods to differ materially from expected results. Those risks include, among others, risks associated with increased competition, customer decisions, the successful completion of continuing development of new products, the successful negotiations, execution and implementation of anticipated new software contracts, the successful implementation of our acquisition strategies and our ability to complete or integrate acquisitions, the successful addition of personnel in the marketing and technical areas, our ability to complete development and sell and license our products at prices which result in sufficient revenues to realize profits and other business factors beyond the Company’s control. Those and other risks are described in the Company’s filings with the Securities and Exchange Commission (“SEC”) over the last 12 months, including but not limited to the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, filed with the SEC on April 2, 2012, copies of which are available from the SEC or may be obtained upon request from the Company.

The following is a summary of operating highlights for the three and twelve months ended December 31, 2012 and 2011, respectively, the consolidated balance sheet as of December 31, 2012 and 2011, respectively, and EBITDA reconciliation to net income for the three and twelve months ended December 31, 2012 and 2011, respectively:

Quantum (QTWW) Announces Strong Growth in Orders for Q-Lite™ Natural Gas Fuel System

Record Growth in Natural Gas Tank Orders in 2012 Momentum continuing in 2013 for New Orders Received

LAKE FOREST, Calif., March 20, 2013 /PRNewswire/ — Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a global leader in natural gas storage systems, integration and vehicle system technologies, today announced that new orders received in 2012 for its ultra-lightweight Q-Lite™ compressed natural gas (CNG) fuel storage tanks and systems for natural gas powered vehicles increased 231%, from $5.8 million in 2011 to a record $19.1 million in 2012. The Company further announced that it has already received $9.4 million in new orders for CNG fuel storage tanks and systems during the first quarter of 2013.

“We are excited to see the continuing momentum in compressed natural gas tank orders,” said Brian Olson, President and Chief Executive Officer of Quantum. “The natural gas vehicle industry recognizes and appreciates the strong value in Quantum’s innovative, ultra-light weight fuel tanks and integrated bolt-on fuel system solutions, backed by our extensive industry experience.”

Quantum’s proprietary Q-Lite fuel tank technology offers one of the lightest natural gas fuel storage solutions in the industry, coupled with superior fuel storage capacity, enhanced safety features and the capability to be quickly integrated on to vehicles.

About Quantum:
Quantum Fuel Systems Technologies Worldwide, Inc. is a leader in the development and production of natural gas fuel storage and system technologies, alternative fuel vehicles, and advanced vehicle propulsion systems. Quantum’s portfolio of technologies includes natural gas and hydrogen storage and metering systems, electronic and software controls, hybrid electric drive systems, and other alternative fuel technologies and solutions that enable fuel efficient, low emission natural gas and hybrid, plug-in hybrid electric and fuel cell vehicles. Quantum’s powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of natural gas, plug-in hybrid, hydrogen-powered hybrid, fuel cell, and specialty vehicles, as well as modular, transportable hydrogen refueling stations.

Quantum’s customer base includes automotive OEMs, fleets, aerospace industry, military and other governmental agencies, and other strategic alliance partners. Quantum’s wholly owned subsidiary, Schneider Power Inc., and affiliate, Asola Solarpower GmbH, complement Quantum’s alternative and renewable energy presence through the development and ownership of wind and solar farms, and the manufacture of high efficiency solar modules for traditional and automotive applications.

Quantum is headquartered in Lake Forest, California, and has operations and affiliations in the USA, Canada, Germany and India.

Forward Looking Statements:
This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  All statements included in this report, other than those that are historical, are forward-looking statements and can generally be identified by words such as “may,” “could,” “will,” “should,” “assume,” “expect,” “anticipate,” “plan,” “intend,” “believe,” “predict,” “estimate,” “forecast,” “outlook,” “potential,” or “continue,” or the negative of these terms, and other comparable terminology.  Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements. The risk factors include the ability of the customer and Quantum to fulfill their obligations under the new orders.  The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

More information can be found about the products and services of Quantum at http://www.qtww.com/ or you may contact:

Brion D. Tanous
Principal, CleanTech IR, Inc.
Email: btanous@cleantech-ir.com
310-541-6824

2013 Quantum Fuel Systems Technologies Worldwide, Inc.
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Supertel (SPPR) Reports 2012 Fourth Quarter, Full-Year Results

NORFOLK, NE — (Marketwire) — 03/20/13 — Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT), today announced its results for the fourth quarter and year ended December 31, 2012.

2012 Fourth Quarter and Full-Year Highlights

• Received $30 million in new equity in February 2012.
• Replaced a $28.2 million loan with a new $30.6 million five year borrowing.
• Increased revenues from continuing operations to $16.4 million in the fourth quarter and $70.6 million for the full year.
• RevPAR for the same store hotels increased 1.9 percent for the year, but was flat for the fourth quarter.
• Net loss declined 41.5 percent and 22.1 percent for the year and quarter.
• Recorded $17.1 million Adjusted EBITDA for the full year and $2.66 million for the fourth quarter.
• Posted $(1.8) million Adjusted FFO for the full year and $(6.5) million in the fourth quarter.
• Sold 15 non-core hotels in 2012.
• Acquired 100-room Hilton Garden Inn for $11.5 million.

Fourth Quarter Operating & Financial Results

Revenues from continuing operations for the 2012 fourth quarter rose 5.2 percent, or $0.8 million, to $16.4 million, compared to the same year-ago period. The improvement was led by results from the recently acquired Hilton Garden Inn and a 1.5 percent increase in same store operations ADR.

Supertel had a 2012 fourth quarter net loss available to common shareholders of $(7.3) million, $(0.31) per diluted share, compared to $(8.6) million, or $(0.37) per diluted share, for the same 2011 period. The 2012 fourth quarter loss includes a $6.3 million tax valuation allowance, as well as a $1.9 million, non-cash impairment charge taken against assets classified as discontinued operations, offset by a $2.0 million gain on sale of assets. For the full year, the company had $10.2 million in non-cash impairment charges, compared to $14.3 million in non-cash impairment charges for full-year 2011.

Funds from operations (FFO) was $(5.2) million for the 2012 fourth quarter, compared to $0.2 million in the same 2011 period. Adjusted funds from operations (AFFO), which is FFO adjusted to exclude gains and losses on derivative liabilities and acquisition costs added back, in the 2012 fourth quarter was $(6.5) million, compared to $0.3 million in the same 2011 period. The decrease is primarily a result of the tax valuation allowance expense of $6.3 million.

Earnings before interest, taxes, depreciation and amortization (EBITDA) increased to $3.2 million from $(4.0) million for the 2012 fourth quarter. Adjusted EBITDA, which is EBITDA before non controlling interest, net gain/loss on disposition of assets, impairment, preferred stock dividends, unrealized gain/loss on derivatives and acquisition expense, declined to $2.7 million, compared to $3.0 million for the 2011 fourth quarter.

In the 2012 fourth quarter, the 63-hotel, same store portfolio reported essentially flat revenue per available room (RevPAR) of $30.09, a mix of a 1.5 percent improvement in ADR to $50.93, offset by a 1.5 percent decline in occupancy to 59.1 percent, compared to the 2011 fourth quarter. Supertel’s portfolio outperformed the industry in occupancy by 2.5 percentage points.

“We made steady progress in executing our business strategy in 2012 by divesting 15 non-core assets, refinancing a total of $31.5 million of debt and acquiring our first upscale, limited-service hotel,” said Kelly Walters, Supertel’s president and chief executive officer. “Our results were impacted by the tax valuation allowance, but we believe that our strategy has the company headed in the proper direction. Still, much work remains to be done.”

                            Fourth Quarter 2012 vs Fourth Quarter 2011
                           Occ %             ADR ($)           RevPAR ($)
                      2012  2011  Var   2012   2011   Var   2012  2011  Var
                     ----- ----- ----- ------ ------ ----- ----- ----- -----
Industry - Total US
 Market              56.6% 55.3%  2.4% 106.54 102.40  4.0% 60.34 56.64  6.5%
Supertel - Same Store
 63 hotels (1)       59.1% 60.0% -1.5%  50.93  50.18  1.5% 30.09 30.09  0.0%
Chain Scale (2)
Industry - Upper
 Midscale            57.6% 56.2%  2.6%  95.89  92.54  3.6% 55.28 52.00  6.3%
Supertel - Upper
 Midscale 19 hotels  59.0% 60.1% -1.8%  71.14  70.76  0.5% 41.97 42.56 -1.4%
Industry - Midscale  49.6% 48.4%  2.6%  72.47  70.13  3.3% 35.96 33.91  6.0%
Supertel - Midscale 3
 hotels              44.6% 43.9%  1.6%  63.07  62.80  0.4% 28.14 27.55  2.1%
Industry - Economy   49.8% 49.1%  1.4%  51.45  49.38  4.2% 25.63 24.24  5.7%
Supertel - Economy 34
 hotels              57.0% 57.8% -1.4%  51.20  50.35  1.7% 29.18 29.09  0.3%

Industry - Extended
 Stay                  n/a   n/a   n/a    n/a    n/a   n/a   n/a   n/a   n/a
Supertel - Extended
 Stay 7 hotels       66.7% 67.9% -1.8%  24.94  23.87  4.5% 16.65 16.20  2.8%

Industry Source: STR Monthly Review

(1)  The comparisons for same store operations are for 63 hotels in
     continuing operations as of December 31, 2012. Comparative operating
     results for the Hilton Garden Inn, which was acquired in the 2012
     second quarter, are not reflected in the 63 same-store hotel operating
     results shown above.
(2)  Supertel's chain scale classifications are as follows: Upper midscale
     hotel brands currently in the company's portfolio include Comfort Inns,
     Comfort Suites, and Hampton Inn; Midscale brands include Quality Inn,
     Sleep Inn and Baymont Inn; Economy brands include Days Inn, Super 8,
     Key West Inns and Guesthouse Inn; Extended stay brands include the
     Savannah Suites.

Property operating income (POI), an important operating measurement, is the revenue from room rentals and other hotel services less hotel and property operating expenses. For the 2012 fourth quarter, POI from continuing operations rose to $3.7 million, a 2.5 percent improvement, compared to $3.6 million for the same period a year earlier. POI from continuing operations for the full year increased 9.8 percent to $18.7 million.

See attached chart Property Operating Income (POI) and POI Operating Margin Percentage.

“Operationally, our hotels continue to benefit from our multiple operator strategy. We believe this strategy has generated stronger returns than our previous operational model. Many of our hotels are in the Midwest and in smaller towns which have not rebounded as quickly as larger urban markets,” Walters said. “We are pleased with the margin improvements, but we are not satisfied yet with our profitability.”

Full-Year Financial Results

Revenues from continuing operations for full-year 2012 increased 5.3 percent to $70.6 million.

Net loss attributable to common shareholders for 2012 was $(13.4) million, or $(0.58) per diluted share, compared with a 2011 net loss attributable to common shareholders of $(18.9) million, or $(0.82) per diluted share for the same 2011 period.

FFO for the full year 2012 was $(2.3) million, compared to $3.9 million for the same 2011 period. The company’s Adjusted FFO for 2012 was $(1.8) million, compared to the $4.1 million reported at December 31, 2011. The lower results were impacted by the tax valuation allowance.

The portfolio of 63 same store hotels in 2012, compared with the same period a year earlier, reported a 1.9 percent rise in RevPAR as a result of a 2.4 percent increase in ADR, partially offset by a 0.5 percent decline in occupancy.

“Our operating results, with the exception of the West South Central region, enjoyed a combined 2.6 percent increase in RevPAR growth in 2012,” said Walters. “This was offset by a 15.7 percent RevPAR decrease in the West South Central region due to increased business in 2011 which was a result of higher occupancy from the energy production industry.”

For full-year 2012, the company recorded $10.2 million of impairment charges, including $6.4 million against discontinued operations hotels and $3.8 million against continuing operations properties.

Earnings before interest, taxes, depreciation and amortization, non controlling interest and preferred stock dividends (Adjusted EBITDA) was up 6.7 percent to $17.1 million for the full year 2012.

Acquisition Activity

In May 2012, the company acquired the 100-room Hilton Garden Inn in Dowell, (Solomons Island) Md. for $11.5 million, excluding closing costs and fees. This is the first acquisition as part of the company’s new growth strategy.

Disposition Program

During 2012 the company sold 15 hotels for $25.5 million, resulting in a gain on sale of approximately $7.9 million. Proceeds were used primarily to improve the balance sheet by reducing debt and materially lowering debt service. The sold properties included:

Super 8: Fayetteville, AR; Muscatine, IA; El Dorado, KS; Sedalia, MO; Wichita, KS; Watertown, SD; Antigo, WI; Clinton, IA; Omaha (Aksarben), NE; Lincoln (West “O”), NE
Masters Inn: Tampa (Fairgrounds), FL
Comfort Inn: Erlanger, KY
Comfort Suites: Dover, DE
Guesthouse Inn: Jackson, TN
Ramada Inn: Ellenton, FL

The company currently is actively marketing 22 hotels for sale and expects to generate approximately $32.7 million in gross proceeds. “We have concentrated our efforts on disposing of assets that were the least profitable to us or were losing money and thus classified as non-core,” Walters said.

Capital Reinvestment

During 2012, the company invested $5.7 million to upgrade its properties and maintain brand standards. “We expect to invest $8.0 million in improvements for our continuing operations hotels in 2013,” Walters added. “The higher investment reflects our plan to maintain our core hotels in competitive physical condition to earn higher returns by generating stronger RevPAR performance.”

Balance Sheet

The company continued to improve its balance sheet strength and flexibility in 2012 through mortgage debt reduction, loan-term extensions, covenant modifications and obtaining new equity and debt.

In November 2012, the company paid down a maturing $28.2 million loan with Greenwich Capital, replacing it with a $30.6 million loan originated by Morgan Stanley Capital Holdings. The new loan matures in 2017 and carries a 5.83 percent annual interest rate, 167 basis points lower than the previous loan, resulting in a reduction of approximately $1.1 million in annual debt service.

As of December 31, 2012, Supertel had $112.4 million in outstanding debt on its continuing operations hotels with an average term of 3.7 years and weighted average annual interest rate of 6.0 percent.

Subsequent Events

On January 21, 2013, Patrick Beans joined the company as senior vice president and treasurer, replacing David Walter, former senior vice president and treasurer, who retired in February 2013.

Following the close of the 2012 fourth quarter, the company sold two economy hotels, the Ellenton, Florida, Guesthouse Inn and Fredericksburg North, Virginia, Days Inn. Combined net proceeds totaled $3.31 million. The associated mortgage debt was fully retired with excess proceeds used for general corporate purposes.

Dividends

The company did not declare a dividend on common stock in 2012. Preferred dividends continued uninterrupted. The board of directors will continue to monitor the dividend policy on a quarterly basis.

Non-Cash Valuation Allowance Against Deferred Tax Assets

During its annual fourth quarter review of its deferred tax assets/liabilities for recoverability, the company determined that the probability of recovering a portion or all of its deferred tax assets did not meet the appropriate threshold and recorded a non-cash $6.3 million valuation allowance.

The company has not recorded taxable income in the Taxable REIT Subsidiary (TRS) in any of the past four years. Even though the 2012 TRS tax loss was significantly less than the three prior years, the company determined that as the loss years continue, the recoverability of those tax assets becomes less certain. The company believes that its growth strategies will make these tax assets recoverable, following future equity raises and acquisitions. However, until these strategies are successfully executed, they cannot be assured to provide sufficient taxable income to recover the deferred tax assets.

Outlook 2013

“We continue to reinvent Supertel by divesting of our non-core hotels on a planned basis, retaining those properties with the best long-term potential that are projected to meet our return criteria,” Walters said.

“Our balance sheet is stronger,” Walters continued. “We have paid down nearly $70 million in debt in the past four years and reduced our interest expense by more than 27 percent over the same period.

“Our business strategy calls for upgrading our portfolio to focus on hotels in the upscale and upper midscale, select-service segment,” he noted. “The acquisition made last year, a Hilton Garden Inn, is typical of the type of properties we seek. We intend to accelerate our growth plan as capital markets and acquisition opportunities allow over the near and long term.”

About Supertel Hospitality, Inc.

Supertel Hospitality, Inc. (NASDAQ: SPPR) is a self-administered real estate investment trust that specializes in the ownership of select-service hotels. The company currently owns 84 hotels comprising 7,431 rooms in 22 states. Supertel’s hotels are franchised by a number of the industry’s most well-regarded brand families, including Hilton, Choice and Wyndham. For more information or to make a hotel reservation, visit www.supertelinc.com.

Forward Looking Statement

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These risks are discussed in the Company’s filings with the Securities and Exchange Commission.

SELECTED FINANCIAL DATA:

                         Supertel Hospitality, Inc.
                                Balance Sheet
               As of December 31, 2012, and December 31, 2011
           (Dollars in thousands, except share and per share data)

The company owned 86 hotels (including 22 hotels in discontinued operations) at December 31, 2012, and 100 hotels as of December 31, 2011, respectively.

                                                           As of
                                                December 31,   December 31,
                                                    2012           2011
                                               -------------  -------------

ASSETS
  Investments in hotel properties              $     236,992  $     227,744
  Less accumulated depreciation                       73,665         69,097
                                               -------------  -------------
                                                     163,327        158,647

  Cash and cash equivalents                              891            279
  Accounts receivable, net of allowance for
   doubtful accounts of $201 and $194                  2,070          1,891
  Prepaid expenses and other assets                    5,151          8,917
  Deferred financing costs, net                        2,644            850
  Investment in hotel properties, held for
   sale, net                                          27,764         50,588
                                               -------------  -------------

                                               $     201,847  $     221,172
                                               =============  =============

LIABILITIES AND EQUITY
LIABILITIES
  Accounts payable, accrued expenses and other
   liabilities                                 $       8,778  $      10,704
  Derivative liablilites, at fair value               15,935              -
  Debt related to hotel properties held for
   sale                                               20,416         49,968
  Long-term debt                                     112,405        115,877
                                               -------------  -------------
                                                     157,534        176,549
                                               -------------  -------------

  Redeemable noncontrolling interest in
   consolidated partnership, at redemption
   value                                                   -            114

  Redeemable preferred stock
    10% Series B, 800,000 shares authorized;
     $.01 par value, 332,500 shares
     outstanding, liquidation preference of
     $8,312                                            7,662          7,662

EQUITY
  Preferred stock, 40,000,000 shares
   authorized;
    8% Series A, 2,500,000 shares authorized,
     $.01 par value, 803,270 shares
     outstanding, liquidation preference of
     $8,033                                                8              8
    6.25% Series C, 3,000,000 shares
     authorized, $.01 par value, 3,000,000
     shares outstanding, liquidation
     preference of $30,000                                30              -
    Common stock, $.01 par value, 200,000,000
     shares authorized; 23,145,927 and
     23,070,387 shares outstanding                       231            231
  Common stock warrants                                  252            252
  Additional paid-in capital                         134,792        121,619
  Distributions in excess of retained earnings       (98,777)       (85,398)
                                               -------------  -------------
    Total shareholders' equity                        36,536         36,712

  Noncontrolling interest in consolidated
   partnership, redemption value $99 and $64             115            135

                                               -------------  -------------
    Total equity                                      36,651         36,847
                                               -------------  -------------

                                               $     201,847  $     221,172
                                               =============  =============

                         Supertel Hospitality, Inc.
                           Results of Operations
     For the three and twelve months ended December 31, 2012 and 2011,
                                respectively

(Dollars in thousands, except per share data)

                                     Three months          Twelve months
                                  ended December 31,    ended December 31,
                                 --------------------  --------------------
                                 Unaudited  Unaudited
                                    2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------
REVENUES
  Room rentals and other hotel
   services                      $  16,421  $  15,605  $  70,573  $  67,031
                                 ---------  ---------  ---------  ---------

EXPENSES
  Hotel and property operations     12,692     11,967     51,921     50,047
  Depreciation and amortization      1,972      1,905      7,705      7,855
  General and administrative           951        874      3,908      3,884
  Acquisition, termination
   expense                              62        123        240        124
  Termination cost                       -          -          -        540
                                 ---------  ---------  ---------  ---------
                                    15,677     14,869     63,774     62,450
                                 ---------  ---------  ---------  ---------

EARNINGS BEFORE NET GAINS
 (LOSSES) ON DISPOSITIONS OF
 ASSETS, OTHER INCOME, INTEREST
 EXPENSE, AND INCOME TAXES             744        736      6,799      4,581

Net gain (loss) on dispositions
 of assets                              (4)        (1)         3      1,135
Other income (loss)                  1,334          -       (144)       107
Interest expense                    (1,956)    (1,920)    (7,450)    (7,706)
Impairment losses                        -     (3,712)    (3,830)    (6,513)

EARNINGS (LOSS) BEFORE INCOME
 TAXES                                 118     (4,897)    (4,622)    (8,396)

Income tax (expense) benefit        (6,153)       147     (6,637)       161
                                 ---------  ---------  ---------  ---------

LOSS FROM CONTINUING OPERATIONS     (6,035)    (4,750)   (11,259)    (8,235)

Gain (loss) from discontinued
 operations                           (388)    (3,500)     1,039     (9,242)
                                 ---------  ---------  ---------  ---------

NET LOSS                            (6,423)    (8,250)   (10,220)   (17,477)

Loss attributable to
 noncontrolling interest                11         26         10         32
                                 ---------  ---------  ---------  ---------

LOSS ATTRIBUTABLE TO CONTROLLING
 INTERESTS                          (6,412)    (8,224)   (10,210)   (17,445)

Preferred stock dividends             (838)      (368)    (3,169)    (1,474)

NET LOSS ATTRIBUTABLE
                                 ---------  ---------  ---------  ---------
  TO COMMON SHAREHOLDERS         $  (7,250) $  (8,592) $ (13,379) $ (18,919)
                                 =========  =========  =========  =========

NET EARNINGS (LOSS) PER COMMON
 SHARE - BASIC:
EPS from continuing operations   $   (0.30) $   (0.22) $   (0.62) $   (0.42)
                                 =========  =========  =========  =========
EPS from discontinued operations $   (0.01) $   (0.15) $    0.04  $   (0.40)
                                 =========  =========  =========  =========
EPS Basic                        $   (0.31) $   (0.37) $   (0.58) $   (0.82)
                                 =========  =========  =========  =========

NET EARNINGS PER COMMON SHARE -
 DILUTED:
EPS Diluted                      $   (0.31) $   (0.37) $   (0.58) $   (0.82)
                                 =========  =========  =========  =========

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

(Unaudited - In thousands, except per share data)

                                     Three months          Twelve months
                                  ended December 31,    ended December 31,
                                 --------------------  --------------------

                                    2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------
Weighted average number of
 shares outstanding for EPS
  basic                             23,092     23,023     23,080     22,978
  diluted                           23,092     23,023     23,080     22,978
Weighted average number of
 shares outstanding for FFO per
 share
  basic                             23,092     23,023     23,080     22,978
  diluted                           23,092     23,023     23,080     22,978

Reconciliation of net earnings
 (loss) to FFO
Net earnings (loss) available to
 common shareholders             $  (7,250) $  (8,592) $ (13,379) $ (18,919)
Depreciation and amortization,
 including discontinued
 operations                          2,135      2,312      8,787      9,996
Net (gains) losses on
 disposition of continuing and
 discontinued assets                (2,006)         9     (7,833)    (1,452)
Impairment                           1,923      6,485     10,172     14,308
                                 ---------  ---------  ---------  ---------
FFO available to common
 shareholders                    $  (5,198) $     214  $  (2,253) $   3,933
                                 ---------  ---------  ---------  ---------
Unrealized loss on derivatives       1,332          -       (247)         -
Acquisitions expense                   (62)      (123)      (240)      (124)
                                 ---------  ---------  ---------  ---------
Adjusted FFO                     $  (6,468) $     337  $  (1,766) $   4,057
                                 =========  =========  =========  =========

FFO per share - basic            $   (0.23) $    0.01  $   (0.10) $    0.17
                                 =========  =========  =========  =========
Adjusted FFO per share - basic   $   (0.28) $    0.01  $   (0.08) $    0.18
                                 =========  =========  =========  =========
FFO per share - diluted          $   (0.23) $    0.01  $   (0.10) $    0.17
                                 =========  =========  =========  =========
Adjusted FFO per share - diluted $   (0.28) $    0.01  $   (0.08) $    0.18
                                 =========  =========  =========  =========

FFO and Adjusted FFO (“AFFO”) are non-GAAP financial measures. We consider FFO and AFFO to be market accepted measures of an equity REIT’s operating performance, which are necessary, along with net earnings (loss), for an understanding of our operating results. FFO, as defined under the National Association of Real Estate Investment Trusts (NAREIT) standards, consists of net income computed in accordance with GAAP, excluding gains (or losses) from sales of real estate assets, plus depreciation and amortization of real estate assets. We believe our method of calculating FFO complies with the NAREIT definition. AFFO is FFO adjusted to exclude gains or losses on derivative liabilities, which are non-cash charges against income and which do not represent results from our core operations. AFFO also adds back acquisition costs. FFO and AFFO do not represent amounts available for management’s discretionary use because of needed capital replacement or expansion, debt service obligations, or other commitments and uncertainties. FFO and AFFO should not be considered as alternatives to net income (loss) (computed in accordance with GAAP) as an indicator of our liquidity, nor are they indicative of funds available to fund our cash needs, including our ability to pay dividends or make distributions. All REITs do not calculate FFO and AFFO in the same manner; therefore, our calculation may not be the same as the calculation of FFO and AFFO for similar REITs.

Diluted FFO per share and diluted Adjusted FFO per share are computed after adjusting the numerator and denominator of the basic computation for the effects of any dilutive potential common shares outstanding during the period. The Company’s outstanding warrants to purchase common stock Series C convertible preferred stock, preferred operating units, unvested stock awards and stock options would be antidilutive and are not included in the dilution computation.

We use FFO and AFFO as performance measures to facilitate a periodic evaluation of our operating results relative to those of our peers. We consider FFO and AFFO to be useful additional measures of performance for an equity REIT because it facilitates an understanding of the operating performance of our properties without giving effect to real estate depreciation and amortization, which assume that the value of real estate assets diminishes predictably over time. Since real estate values have historically risen or fallen with market conditions, we believe that FFO and AFFO provide a meaningful indication of our performance.

                         EBITDA and Adjusted EBITDA

(Unaudited - In thousands, except statistical data)

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

RECONCILIATION OF NET EARNINGS
 (LOSS) TO ADJUSTED EBITDA
Net loss available to common
 shareholders                    $  (7,250) $  (8,592) $ (13,379) $ (18,919)
  Interest expense, including
   discontinued operations           2,461      2,976     10,060     12,402
  Income tax expense (benefit),
   including discontinued
   operations                        5,835       (665)     5,610     (1,904)
  Depreciation and amortization,
   including discontinued
   operations                        2,135      2,312      8,787      9,996
                                 ---------  ---------  ---------  ---------
    EBITDA                           3,181     (3,969)    11,078      1,575
  Noncontrolling interest              (11)       (26)       (10)       (32)
  Net (gain) loss on disposition
   of assets                        (2,006)         9     (7,833)    (1,452)
  Impairment                         1,923      6,485     10,172     14,308
  Preferred stock dividend             838        368      3,169      1,474
  Unrealized (gain) loss on
   derivatives                      (1,332)         -        247          -
  Acquisition expense                   62        123        240        124
                                 ---------  ---------  ---------  ---------
    Adjusted EBITDA              $   2,655  $   2,990  $  17,063  $  15,997
                                 =========  =========  =========  =========

EBITDA and Adjusted EBITDA are financial measures that are not calculated in accordance with accounting principles generally accepted in the United States of America (“GAAP”). We calculate EBITDA and Adjusted EBITDA by adding back to net earnings (loss) available to common shareholders certain non-operating expenses and non-cash charges which are based on historical cost accounting and we believe may be of limited significance in evaluating current performance. We believe these adjustments can help eliminate the accounting effects of depreciation and amortization and financing decisions and facilitate comparisons of core operating profitability between periods, even though EBITDA and Adjusted EBITDA also do not represent an amount that accrues directly to common shareholders. In calculating Adjusted EBITDA, we add back noncontrolling interest, net (gain) loss on disposition of assets, preferred stock dividends and acquisition expenses which are cash charges. We also add back impairment and unrealized gain or loss on derivatives, which are non-cash charges.

EBITDA and Adjusted EBITDA do not represent cash generated from operating activities determined by GAAP and should not be considered as alternatives to net income, cash flow from operations or any other operating performance measure prescribed by GAAP. EBITDA and Adjusted EBITDA are not measures of our liquidity, nor are they indicative of funds available to fund our cash needs, including our ability to make cash distributions. Neither do the measurements reflect cash expenditures for long-term assets and other items that have been and will be incurred. EBITDA and Adjusted EBITDA may include funds that may not be available for management’s discretionary use due to functional requirements to conserve funds for capital expenditures, property acquisitions, and other commitments and uncertainties. To compensate for this, management considers the impact of these excluded items to the extent they are material to operating decisions or the evaluation of our operating performance. EBITDA and Adjusted EBITDA, as presented, may not be comparable to similarly titled measures of other companies.

                         Supertel Hospitality, Inc.
  Operating Statistics by Chain Scale Classification - Hotels in Continuing
                                  Operations
      For the three and twelve months ended December 31, 2012 and 2011,
                                 respectively

(Unaudited - except statistical data)

                                      Three months         Twelve months
                                   ended December 31,    ended December 31,
                                    2012       2011       2012       2011
Same Store:
  Revenue per available room
   (RevPAR):
    Upper Midscale               $    41.97 $    42.56 $    47.11 $    45.71
    Midscale                     $    28.14 $    27.55 $    31.92 $    27.88
    Economy                      $    29.18 $    29.09 $    32.17 $    32.00
    Extended Stay                $    16.65 $    16.20 $    17.27 $    17.14
                                 ---------- ---------- ---------- ----------
      Total                      $    30.09 $    30.09 $    33.21 $    32.58
                                 ========== ========== ========== ==========

  Average daily room rate (ADR):
    Upper Midscale               $    71.14 $    70.76 $    71.01 $    70.24
    Midscale                     $    63.07 $    62.80 $    64.37 $    63.30
    Economy                      $    51.20 $    50.35 $    51.67 $    50.70
    Extended Stay                $    24.94 $    23.87 $    24.70 $    23.79
                                 ---------- ---------- ---------- ----------
      Total                      $    50.93 $    50.18 $    51.51 $    50.29
                                 ========== ========== ========== ==========

  Occupancy percentage:
    Upper Midscale                    59.0%      60.1%      66.3%      65.1%
    Midscale                          44.6%      43.9%      49.6%      44.0%
    Economy                           57.0%      57.8%      62.3%      63.1%
    Extended Stay                     66.7%      67.9%      69.9%      72.0%
                                 ---------- ---------- ---------- ----------
      Total                           59.1%      60.0%      64.5%      64.8%
                                 ========== ========== ========== ==========

Same store reflects 63 hotels.

                         Supertel Hospitality, Inc.
  Property Operating Income (POI) - Continuing and Discontinued Operations

This presentation includes non-GAAP financial measures. The company believes that the presentation of hotel property operating income (POI) is helpful to investors, and represents a more useful description of its core operations, as it better communicates the comparability of its hotels’ operating results.

Unaudited-In thousands, except
 statistical data:                    Three months         Twelve months
                                   ended December 31,    ended December 31,
                                 --------------------- ---------------------
                                    2012       2011       2012       2011
                                 ---------  ---------- ---------- ----------
Total Hotels in Continuing
 Operations:
  Revenue per available room
   (RevPAR):                     $   30.89  $    30.09 $    33.79 $    32.58
  Average daily room rate (ADR): $   52.25  $    50.18 $    52.36 $    50.29
  Occupancy percentage:              59.1%       60.0%      64.5%      64.8%

Revenue from room rentals and
 other hotel services consists
 of:
  Room rental revenue            $  15,787  $   15,106 $   68,212 $   64,882
  Telephone revenue                     71          73        290        293
  Other hotel service revenues         563         426      2,071      1,856
                                 ---------  ---------- ---------- ----------
Total revenue from room rentals
 and other hotel services        $  16,421  $   15,605 $   70,573 $   67,031
                                 =========  ========== ========== ==========

Room rentals and other hotel
 services
  Total room rental and other
   hotel services                $  16,421  $   15,605 $   70,573 $   67,031
                                 =========  ========== ========== ==========

Hotel and property operations
 expense
  Total hotel and property
   operations expense            $  12,692  $   11,967 $   51,921 $   50,047
                                 =========  ========== ========== ==========

Property Operating Income
 ("POI")
  Total property operating
   income                        $   3,729  $    3,638 $   18,652 $   16,984
                                 =========  ========== ========== ==========

POI as a percentage of revenue
 from room rentals and other
 hotel services
  Total POI as a percentage of
   revenue                           22.7%       23.3%      26.4%      25.3%
                                 =========  ========== ========== ==========

----------------------------------------------------------------------------
Discontinued Operations

Room rentals and other hotel
 services
  Total room rental and other
   hotel services                $   4,744  $    6,229 $   24,777 $   30,876
                                 =========  ========== ========== ==========

Hotel and property operations
 expense
  Total hotel and property
   operations expense            $   4,869  $    6,003 $   22,561 $   27,496
                                 =========  ========== ========== ==========

Property Operating Income
 ("POI")
  Total property operating
   income                        $    (125) $      226 $    2,216 $    3,380
                                 =========  ========== ========== ==========

POI as a percentage of revenue
 from room rentals and other
 hotel services
  Total POI as a percentage of
   revenue                           -2.6%        3.6%       8.9%      10.9%
                                 =========  ========== ========== ==========

(Unaudited - In thousands, except statistical data)

RECONCILIATION OF NET LOSS TO
 POI                                 Three months          Twelve months
                                  ended December 31,    ended December 31,
                                 --------------------  --------------------
                                    2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------
Net loss                         $  (6,423) $  (8,250) $ (10,220) $ (17,477)
Depreciation and amortization,
 including discontinued
 operations                          2,135      2,312      8,787      9,996
Net gain on disposition of
 assets, including discontinued
 operations                         (2,006)         9     (7,833)    (1,452)
Other income                        (1,334)         -        144       (107)
Interest expense, including
 discontinued operations             2,461      2,976     10,060     12,402
General and administrative
 expense                               951        874      3,908      3,934
Acquisition expense                     62        123        240        124
Impairment losses                    1,923      6,485     10,172     14,308
Termination cost                         -          -          -        540
Income tax expense (benefit),
 including discontinued
 operations                          5,835       (665)     5,610     (1,904)
Room rentals and other hotel
 services - discontinued
 operations                         (4,744)    (6,229)   (24,777)   (30,876)
Hotel and property operations
 expense - discontinued
 operations                          4,869      6,003     22,561     27,496
                                 ---------  ---------  ---------  ---------
POI--continuing operations       $   3,729  $   3,638  $  18,652  $  16,984
                                 =========  =========  =========  =========

                                     Three months          Twelve months
                                  ended December 31,    ended December 31,
                                 --------------------  --------------------
Reconciliation of gain (loss)
 from discontinued operations to
 POI - discontinued operations      2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------

Gain (loss) from discontinued
 operations                      $    (388) $  (3,500) $   1,039  $  (9,242)
Depreciation and amortization
 from discontinued operations          163        407      1,082      2,141
Net gain on disposition of
 assets from discontinued
 operations                         (2,010)         8     (7,830)      (317)
Interest expense from
 discontinued operations               505      1,056      2,610      4,696
General and administrative
 expense from discontinued
 operations                              -          -          -         50
Impairment losses from
 discontinued operations             1,923      2,773      6,342      7,795
Income tax benefit from
 discontinued operations              (318)      (518)    (1,027)    (1,743)
                                 ---------  ---------  ---------  ---------
POI--discontinued operations     $    (125) $     226  $   2,216  $   3,380
                                 =========  =========  =========  =========

                                     Three months          Twelve months
                                  ended December 31,    ended December 31,
                                 --------------------  --------------------
                                    2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------
POI--continuing operations           3,729      3,638     18,652     16,984
POI--discontinued operations          (125)       226      2,216      3,380
                                 ---------  ---------  ---------  ---------
Total - POI                      $   3,604  $   3,864  $  20,868  $  20,364
                                 =========  =========  =========  =========

Total POI as a percentage of
 revenues                             17.0%      17.7%      21.9%      20.8%
                                 =========  =========  =========  =========

Same Store reflects 63 hotels in continuing operations owned as of January 1, 2011 and excludes one property acquired during the second quarter of 2012.

                         Supertel Hospitality, Inc.
                       Operating Statistics by Region
     For the three months ended December 31, 2012 and 2011, respectively

The comparisons of same store operations are for 63 hotels in continuing operations as of October 1, 2011.

(Unaudited - except per share data)

                         Three months ended             Three months ended
                          December 31, 2012             December 31, 2011
                      ------------------------       -----------------------
Same Store       Room                           Room
Region          Count RevPAR Occupancy   ADR   Count RevPAR Occupancy   ADR
                ----- ------ --------- ------- ----- ------ --------- ------
Mountain          214 $30.89     59.9% $ 51.59   214 $25.37     52.5% $48.31
West North
 Central        1,352  30.17     58.4%   51.66 1,352  29.93     60.2%  49.73
East North
 Central          923  34.93     54.0%   64.73   923  33.81     51.1%  66.13
Middle
 Atlantic/New
 England          142  44.35     71.1%   62.37   142  44.12     78.0%  56.53
South Atlantic  2,169  26.51     62.6%   42.35 2,169  26.91     64.0%  42.08
East South
 Central          431  37.15     56.6%   65.59   431  39.70     60.5%  65.66
West South
 Central          225  20.96     46.4%   45.17   225  23.69     51.3%  46.17
                ----- ------ --------- ------- ----- ------ --------- ------
Total Same
 Store Hotels   5,456 $30.09     59.1% $ 50.93 5,456 $30.09     60.0% $50.18
                ===== ====== ========= ======= ===== ====== ========= ======

South Atlantic
 Acquisitions
Total
 Acquisitions     100  74.41     61.5%  121.08     -      -      0.0%      -
                ----- ------ --------- ------- ----- ------ --------- ------
Total
 Acquisitions     100 $74.41     61.5% $121.08     - $    -      0.0% $    -
                ===== ====== ========= ======= ===== ====== ========= ======

                ----- ------ --------- ------- ----- ------ --------- ------
Total
 Continuing
 Operations     5,556 $30.89     59.1% $ 52.25 5,456 $30.09     60.0% $50.18
                ===== ====== ========= ======= ===== ====== ========= ======

States included in the Regions
Mountain                      Idaho and Montana
                              Iowa, Kansas, Missouri, Nebraska and South
West North Central            Dakota
East North Central            Indiana and Wisconsin
Middle Atlantic               Pennsylvania
South Atlantic                Florida, Georgia, Maryland, North Carolina,
                              South Carolina, Virginia and West Virginia
East South Central            Kentucky and Tennessee
West South Central            Arkansas and Louisiana

                         Supertel Hospitality, Inc.
                       Operating Statistics by Region
    For the twelve months ended December 31, 2012 and 2011, respectively

The comparisons of same store operations are for 63 hotels in continuing operations as of January 1, 2011.

(Unaudited - except per share data)

                            2012                           2011
               ------------------------------ ------------------------------
Same Store      Room                           Room
Region         Count RevPAR Occupancy   ADR   Count RevPAR Occupancy   ADR
               ----- ------ --------- ------- ----- ------ --------- -------

Mountain         214 $35.81     68.5% $ 52.27   214 $32.05     63.8% $ 50.23
West North
 Central       1,352  32.59     63.4%   51.38 1,352  31.65     63.8%   49.58
East North
 Central         923  37.48     59.1%   63.41   923  36.54     57.5%   63.50
Middle
 Atlantic        142  44.67     73.2%   61.06   142  43.52     75.3%   57.83
South Atlantic 2,169  30.16     68.2%   44.19 2,169  29.66     68.8%   43.11
East South
 Central         431  41.24     62.1%   66.38   431  40.66     62.0%   65.62
West South
 Central         225  23.74     51.4%   46.17   225  28.17     61.2%   46.02
               ----- ------ --------- ------- ----- ------ --------- -------
Total Same
 Store Hotels  5,456 $33.21     64.5% $ 51.51 5,456 $32.58     64.8% $ 50.29
               ===== ====== ========= ======= ===== ====== ========= =======

South Atlantic
 Acquisitions    100  85.90     69.8%  123.03     -      -      0.0%       -
               ----- ------ --------- ------- ----- ------ --------- -------
Total
 Acquisitions    100 $85.90     69.8% $123.03     - $    -      0.0% $     -
               ===== ====== ========= ======= ===== ====== ========= =======

Total
 Continuing
 Operations    5,556 $33.79     64.5% $ 52.36 5,456 $32.58     64.8% $ 50.29
               ===== ====== ========= ======= ===== ====== ========= =======

States included in the Regions
Mountain                      Idaho and Montana
                              Iowa, Kansas, Missouri, Nebraska and South
West North Central            Dakota
East North Central            Indiana and Wisconsin
Middle Atlantic/New England   Pennsylvania
                              Florida, Georgia, Maryland, North Carolina,
South Atlantic                South Carolina, Virginia and West Virginia
East South Central            Kentucky and Tennessee
West South Central            Arkansas and Louisiana

The following properties have been moved from the same store portfolio during the reporting period and classified as held for sale:

Louisville, KY Comfort Suites
Omaha, NE Sleep Inn
Louisville, KY Sleep Inn
Fredericksburg, VA (South) Days Inn
Shreveport, LA Days Inn
Fort Madison, IA Super 8
Jefferson City, MO Super 8
Shawano, WI Super 8
Ellenton, FL Guesthouse Inn

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2254661

Contact:
Ms. Krista Arkfeld
Director of Corporate Communications

QuickLogic’s (QUIK) ArcticLink III VX6 Embedded/External Displays via Single Processor Output

SUNNYVALE, CA — (Marketwire) — 03/20/13 — QuickLogic Corporation (NASDAQ: QUIK)

• Drive on-board display and HDMI/MHL transmitters from a single Application Processor display signal
• Includes display bridging functions for seamless connectivity of varying interfaces
• Integrated VEE and DPO technologies allow for sunlight viewability & system-level power savings

QuickLogic Corporation (NASDAQ: QUIK), the innovator in low-power Customer Specific Standard Products (CSSPs), announced today the immediate availability of its new ArcticLink® III VX6 solution platform device. This product integrates QuickLogic’s Visual Enhancement Engine (VEE) and Display Power Optimizer (DPO) technologies along with LVDS, MIPI, and RGB interfaces into a single chip bridging and connectivity solution for consumer mobile devices. This enables developers to easily integrate a secondary HDMI and/or MHL video output into systems initially designed to support a single, on-board display.

The VX6BxG is optimized for tablet architecture, offering system designers a solution that bridges the MIPI output of the AP to an LVDS interface for the on-board display, while outputting the same display content to the RGB or MIPI interface of the MHL/HDMI transmitter. This approach eliminates the need for inefficient, multi-chip architectures or the need to upgrade to a more expensive application processor which supports two simultaneous display interfaces.

“The ArcticLink III VX6 family from QuickLogic allows tablet system designers to realize multi-display architectures with processors originally intended to support only a single, on-board display. We believe this flexibility in processor architecture selection can speed time-to-market and keep BOM costs low for OEMs building differentiated HDMI/MHL-enabled products,” says Paul Karazuba, senior product marketing manager at QuickLogic.

The solution platform family also optionally integrates QuickLogic’s VEE and DPO technologies. Our VEE technology, based on the iridix® core from Apical Limited, delivers outstanding display viewability under any lighting condition by dynamically optimizing video characteristics to provide a natural viewing experience. Our DPO technology has been field-proven to lower total system power consumption through dynamic management of display brightness with no negative user side effects. Used together with VEE, QuickLogic’s DPO technology enables system-level battery life extension by an average of 25% without compromising the user experience.

Availability
The ArcticLink III VX6 is mass production ready and available immediately for evaluation. Contact QuickLogic at info@quicklogic.com or visit http://www.quicklogic.com/platforms/arcticlink-iii-vx/ for more information.

Stay up to date with QuickLogic and help us spread the word:
http://blog.quicklogic.com/
http://www.youtube.com/QuickLogicCorp
Tweets by QuickLogic_Corp
http://www.facebook.com/QuickLogic

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

ArcticLink and QuickLogic 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.

Code: QUIK-G

Contact:
Andrea Vedanayagam
Veda Communications
(408) 656-4494

Ivanhoe (IVAN) and SBM Sign Alliance to Develop Un-Tapped Offshore Heavy Oil

Ivanhoe Energy
Hilary McMeekin
Manager, Corporate Communications
(403) 817 1108
hmcmeekin@ivanhoeenergy.com

Supertel Hospitality (SPPR) Announces Dividends on Series A Preferred Stock

NORFOLK, NE — (Marketwire) — 03/19/13 — Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT), today announced the declaration and the continuation of regular dividends on its outstanding preferred stock.

The regular monthly cash dividend of $0.066667 per share of Series A Preferred Stock will be paid on April 30, 2013 to holders of record as of April 1, 2013; paid on May 31, 2013 to holders of record as of May 1, 2013; and paid on July 1, 2013 to holders of record as of June 3, 2013.

About Supertel Hospitality, Inc.

Supertel Hospitality, Inc. (NASDAQ: SPPR) is a self-administered real estate investment trust that specializes in the ownership of select-service hotels. The company currently owns 84 hotels comprising 7,431 rooms in 22 states. Supertel’s hotels are franchised by a number of the industry’s most well-regarded brand families, including Hilton, Choice and Wyndham. For more information or to make a hotel reservation, visit www.supertelinc.com.

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These risks are discussed in the Company’s filings with the Securities and Exchange Commission.

For Immediate Release
Contact:
Ms. Krista Arkfeld
Director of Corporate Communications
karkfeld@supertelinc.com

Vermillion (VRML) Appoints Bruce A. Huebner to Chairman of the Board

Shareholders to Vote on Approval of Expanded Stock Incentive Plan at Upcoming Annual Meeting

AUSTIN, Texas, March 19, 2013 /PRNewswire/ — Vermillion, Inc. (NASDAQ: VRML), a molecular diagnostics company focused on gynecologic cancers and women’s health, has appointed Bruce A. Huebner as chairman effective March 18, 2013. He succeeds James S. Burns, who will continue to serve on the board of directors. Huebner’s appointment represents an important step in the execution of the company’s leadership succession plan that began in 2012.

Huebner previously served as Vermillion’s CEO on an interim basis until the recent appointment of Thomas McLain to the position of President and Chief Executive Officer, which also took effect yesterday. Huebner has been a company director since May 2011.

“Bruce demonstrated highly effective leadership during this transition period,” said Burns. “Given his performance, as well as his more than 37 years of diagnostic industry experience and history of valuable contributions as a director, the board believes that the company and its shareholders would greatly benefit from Bruce as our chairman. I look forward to working closely with Bruce and our new president to build shareholder value, as we advance Vermillion as a leading diagnostics company addressing unmet clinical needs in women’s health.”

Shareholder Vote
At the company’s upcoming 2012 annual meeting on March 21, the board will request shareholder approval to increase the number of authorized shares in the company’s 2010 stock incentive plan by 1.3 million shares.

“The company currently has only nominal shares available under the 2010 stock incentive plan,” noted Chairman Huebner. “We will need more shares to attract qualified executives, directors and employees to Vermillion. Without the approval of these additional shares, we will have to increase the cash compensation to these individuals. We would also not have the benefit of incentivized performance that is typically created by a stock option plan, and one that better aligns the interests of management and employees with that of our shareholders. So, it is in the best interest of Vermillion shareholders that we approve the expansion of this plan.”

Huebner Career Biography
Bruce Huebner brings to the role of Vermillion’s chairman extensive executive management experience in multiple clinical diagnostic companies, including Osmetech Molecular Diagnostics, Nanogen and Gen-Probe. While serving as president of Osmetech, he successfully established the company as a fully integrated business, obtaining FDA clearance for four molecular diagnostic microarray products and introducing them to the marketplace. Huebner was previously president and chief operating officer of Nanogen, a publicly held nanotechnology and microarray company.

Prior to Nanogen, he was executive vice president and chief operating officer of Gen-Probe, a global leader in the development of nucleic acid tests, including diagnostic tests for infectious disease that affect women’s health. In less than 10 years, he grew Gen-Probe’s annual revenues from $42 million to a run-rate of more than $150 million. Huebner is currently a managing director of LynxCom Partners, a healthcare consulting firm with a focus on cancer diagnostics and personalized medicine.

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

The company’s lead diagnostic, OVA1®, is a blood test for pre-surgical assessment of tumors for malignancy, using a unique multi-biomarker approach. In a published clinical trial, OVA1 achieved 99% sensitivity in detecting epithelial ovarian cancers (EOC). This included 96% sensitivity for stage I EOC, the earliest and most curable EOC stage, compared with 57% for the conventional biomarker CA125. In addition, OVA1 found 70% of malignancies missed by non-specialist pre-surgical assessment, and it increased detection of malignancy over ACOG guidelines from 77% to 94%. As the first protein-based, In Vitro Diagnostic Multi-Variate Index Assay (IVDMIA) cleared by the FDA, OVA1 also represents a new class of software-based diagnostics. Additional information about these published clinical trials is available on Vermillion’s website at www.vermillion.com.

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

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

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

Skullcandy (SKUL) Names Hoby Darling President and CEO

PARK CITY, Utah, March 18, 2013 (GLOBE NEWSWIRE) — Skullcandy, Inc. (Nasdaq:SKUL) today announced that its board of directors has appointed Hoby Darling as President and Chief Executive Officer effective immediately.

Rick Alden, Interim Chief Executive Officer and board member of Skullcandy, commented: “On behalf of our board, I can’t be more pleased to welcome Hoby to the Skullcandy team. The board is acutely aware of the needs of this organization and has moved swiftly to find the greatest resource to meet those needs. Hoby’s involvement with both emerging and global brands makes him the ideal person to lead this company. He is a best in class addition to this team, and will provide remarkable voice and leadership as the Chief Executive Officer of this Company. I look forward to working side by side with Hoby to build remarkable product, remarkable stories, and this remarkable Company.”

Jeff Kearl, Chairman of the board, commented: “I want to thank Rick Alden for stepping in as interim CEO and helping the board access the needs of the organization. I’m stoked that he has agreed to stay on full time at the Company. He will play an integral role with the executive team at Skullcandy helping set the vision and strategy for the future, as well as attacking the immediate initiatives outlined on the last earnings call. We look forward to supporting Hoby and Rick in the next phase of growth at Skullcandy.”

Darling joins Skullcandy from Nike, Inc. (NYSE:NKE) where he most recently held the role of General Manager, Nike+ Digital Sport. During his tenure with Nike, Darling was a member of the Nike Affiliates Global Leadership team and served as the Head of Strategy and Planning for Nike Affiliates (Converse, Cole Haan, Hurley and Umbro). Prior to Nike, Darling served as Senior Vice President, Strategic Development and General Counsel at Volcom from its initial public offering in 2005 until its sale to PPR in 2011. Mr. Darling was named to Sporting Goods Business’ 40 Under 40 in Sports in 2010.

Mr. Hoby Darling stated: “I am extremely excited to join the Skullcandy team at this early stage of the Company’s global growth cycle. I have been admiring the brand’s progress since Rick started the Company 10 years ago, and I see tremendous potential to leverage the platform and culture that is already in place. My years at Volcom and Nike have given me the opportunity to work side by side with world-class leaders of these great brands, and I look forward to applying all of my experience and learning to execute the near-term initiatives recently outlined by Rick and successfully driving Skullcandy forward over the long-term.”

About Skullcandy, Inc.

Skullcandy is a leading global designer, marketer and distributor of performance audio and gaming headphones and other accessory related products under the Skullcandy, Astro Gaming and 2XL by Skullcandy brands. Skullcandy was launched in 2003 and quickly became one of the world’s most distinct audio brands by bringing unique technology, color, character and performance to an otherwise monochromatic space; helping to revolutionize the audio arena by introducing headphones, earbuds and other audio and wireless lifestyle products that possess unmistakable style and exceptional performance. The Company’s products are sold and distributed through a variety of channels in the U.S. and approximately 80 countries worldwide. Visit skullcandy.com, or join us at facebook.com/skullcandy or on Twitter @skullcandy.

CONTACT: Investors:
         ICR
         Brendon Frey / Joe Teklits
         203-682-8200
         Brendon.Frey@icrinc.com
         Joseph.Teklits@icrinc.com

Lattice Semiconductor (LSCC) Updates 1Q13 Guidance

HILLSBORO, OR — (Marketwire) — 03/19/13 — Lattice Semiconductor Corporation (NASDAQ: LSCC) today updated its guidance for the first quarter ending March 30, 2013 to reflect customer demand strength in the communications and consumer market segments.

• Revenue for the first quarter 2013 is now expected to increase approximately 6% to 8% on a sequential basis. This compares to prior guidance provided on January 24, 2013 that revenue was expected to decline approximately 2% to 4% on a sequential basis.
• Due to the higher expected revenue contribution from the communications and consumer market segments, gross margin percentage is now expected to be at the lower end of the Company’s prior guidance of approximately 54% plus or minus 2%.
• Total operating expenses are expected to be approximately $35.5 million, including approximately $0.5 million in restructuring charges. This is unchanged from prior guidance.

No conference call will be held in conjunction with this guidance update. Additional information will be available when the Company reports its first quarter 2013 results.

Forward-Looking Statements:

The foregoing paragraphs contain forward-looking statements that involve estimates, assumptions, risks and uncertainties. Such forward-looking statements include statements relating to our business outlook, expected revenue, gross margin, total operating expenses, and projected restructuring charges. Other forward-looking statements may be indicated by words such as “will,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue” or the negative of these terms or other comparable terminology. Lattice believes the factors identified below could cause actual results to differ materially from the forward-looking statements.

Estimates of future revenue are inherently uncertain due to, among other things, the high percentage of quarterly “turns” business. In addition, revenue is affected by such factors as global economic conditions, which may affect customer demand, pricing pressures, competitive actions, the demand for our Mature, Mainstream and New products, the ability to supply products to customers in a timely manner, changes in our distribution relationships, or the volatility of our consumer business. Actual gross margin percentage and operating expenses could vary from the estimates on the basis of, among other things, changes in revenue levels, changes in product pricing and mix, changes in wafer, assembly, test and other costs, including commodity costs, variations in manufacturing yields, the failure to sustain operational improvements, the actual amount of compensation charges due to stock price changes. Further, the impact of any restructuring, including the restructuring actions initiated during the fourth quarter of 2012, will depend on, among other factors, the final actions taken, negotiation of related expenses with third parties, the timing of restructuring activities and the ability of the Company to successfully reallocate functions formerly addressed by the employees and other resources eliminated in the restructuring. Any unanticipated declines in revenue or gross margin, any unanticipated increases in our operating expenses or unanticipated charges could adversely affect our profitability.

In addition to the foregoing, other factors that may cause actual results to differ materially from the forward-looking statements in this press release include the Company’s dependencies on its silicon wafer and other suppliers, global economic uncertainty, overall semiconductor market conditions, market acceptance and demand for our new products, the impact of competitive products and pricing, technological and product development risks, and the other risks that are described in this press release and that are otherwise described from time to time in our filings with the Securities and Exchange Commission. The Company does not intend to update or revise any forward-looking statements, whether as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

About Lattice Semiconductor

Lattice is a service-driven developer of innovative low cost, low power programmable design solutions. For more information about how our FPGA, CPLD and programmable power management devices help our customers unlock their innovation, visit www.latticesemi.com. You can also follow us via Twitter, Facebook, or RSS.

Lattice Semiconductor Corporation, Lattice (& design), L (& design), iCE40 and specific product designations are either registered trademarks or trademarks of Lattice Semiconductor Corporation or its subsidiaries in the United States and/or other countries.

GENERAL NOTICE: Other product names used in this publication are for identification purposes only and may be trademarks of their respective holders.

For more information contact:
Joe Bedewi
Chief Financial Officer
Lattice Semiconductor Corporation
503-268-8000

David Pasquale
Global IR Partners
914-337-8801

Primo Water (PRMW) Announces Results for the Fourth Quarter and Fiscal Year

WINSTON-SALEM, N.C., March 19, 2013 (GLOBE NEWSWIRE) — Primo Water Corporation (Nasdaq:PRMW), a leading provider of multi-gallon purified bottled water, self-serve filtered drinking water and water dispensers, today announced financial results for the fourth quarter and fiscal year ended December 31, 2012.

Business Highlights:

• Total sales for the year increased 10.1% to $91.5 million compared to the prior year and were consistent at $20.9 million for Q4 compared to the prior year.
• Water segment sales for the year increased 6.8% to $62.7 million compared to the prior year and increased 8.2% to $15.0 million for Q4 compared to the prior year.
• Total adjusted EBITDA for the year increased 84.5% to $5.5 million for fiscal 2012 compared to $3.0 million for 2011 and increased to $1.1 million compared to $(0.8) million in Q4 of the prior year.
• Water segment operating income increased 17.5% to $15.9 million for the full year and increased 36.2% to $3.6 million for Q4 compared to the prior year.
• Water dispenser unit sell-thru to consumers increased 36.4% to 398,619 units for the full year and increased 27.9% to 91,870 units in Q4 of 2012 compared to Q4 of the prior year.
• As of December 31, 2012, 24,500 total locations offered water and/or dispensers, a 4% increase in locations compared to December 31, 2011.
  

“We are pleased with our net sales growth and operating improvements which enabled us to report our fourth consecutive quarter of adjusted EBITDA improvement as we focused on distribution cost optimization in our water business and increased gross margins in our dispenser business,” commented Billy D. Prim, Primo Water’s President and Chief Executive Officer. “We continue to see positive business trends in 2013 and are focused on increasing EBITDA, which will be driven by water segment revenue growth, improved gross margins and decreased expenses. Water segment revenue growth will continue to be driven by new end-user customers, as we believe consumer growth in the water segment will further increase with consumer purchases of water dispensers, and our dispenser sales continue to experience strong growth.”

Fourth Quarter Results

Adjusted EBITDA increased to $1.1 million from $(0.8) million in the fourth quarter of 2011. Total net sales of $20.9 million were comparable to $21.1 million in the fourth quarter of 2011. This slight decrease was primarily due to the one-time sale of $0.8 million in inventory that occurred in the prior year and $0.6 million lower dispensers sales into the retail channel compared to fourth quarter last year.

Water segment sales in the fourth quarter of 2012 increased 8.2% to $15.0 million compared to $13.9 million in the fourth quarter of 2011. Sales in the Water segment consist of sales of multi-gallon purified bottled water (“Exchange”) and self-serve filtered drinking water vending services (“Refill”). The Water segment sales increase was primarily due to a 17.0% increase in Exchange sales that resulted from U.S. Exchange same-store unit growth of 21.2% for the fourth quarter of 2012. The increase in U.S. Exchange sales was partially offset by a 1.6% decrease in Refill sales.

Dispenser segment sales for the fourth quarter of 2012 decreased 9.2% to $5.8 million compared to $6.4 million in the fourth quarter of 2011. The change was primarily due to a decrease in units sold into the retail channel partially offset by a sales mix shift towards higher priced dispensers. While sell-in to retail was down in the fourth quarter of 2012, sell-thru to consumers continued to grow, increasing 27.9% compared to the fourth quarter of 2011 to 91,870 units, driven by increased locations and same-store sales unit increases. The Company believes that increased water dispenser penetration will lead to increased recurring Water sales.

The following table sets forth information regarding locations where the Company’s dispensers and water are sold as well as certain sales information.

Gross margin increased to 23.4% for the fourth quarter from 18.2% for the fourth quarter of 2011. Gross margin for the Water segment increased to 30.9% compared to 27.0% in the same period in the prior year due improvements for both Exchange and Refill. Gross margin for the Dispenser segment increased to 4.1% from 1.3% for the prior year, primarily due to retail price increases that were initiated during the third quarter of 2012.

The Company’s Water segment continues to perform well, experiencing sales and profitability growth. The Water segment’s operating income for the fourth quarter of 2012 increased 36.2% to $3.6 million from $2.6 million for the fourth quarter of 2011. The Dispenser segment’s loss from operations improved for the fourth quarter of 2012 to $(0.1) million from $(0.6) million for the fourth quarter of 2011, primarily due to price increases initiated during the third quarter of 2012. The Company expects to achieve positive operating income going forward in the Dispenser segment as a result of the full impact of price increases and strong continuing consumer demand.

Fiscal Year 2012 Results; Goodwill Impairment

Fiscal year 2012 adjusted EBITDA increased 84.5% to $5.5 million from $3.0 million in 2011. Fiscal year 2012 total net sales increased 10.1% to $91.5 million from $83.1 million in 2011. Water sales for 2012 increased 6.8% to $62.7 million compared to $58.7 million in 2011. Dispenser sales for 2012 increased 22.1% to $28.8 million compared to $23.6 million in 2011.

As previously disclosed the Company now reports the Flavorstation business under discontinued operations and will focus on its core water and dispenser businesses. In addition to discontinuing the Flavorstation business, in 2012 the Company took non-cash charges of $82.0 million to write off goodwill and other intangibles on its balance sheet. The non-cash impairment charges are a primarily a result of Primo’s stock price, which is lower than the book value of assets. Despite a cash flow valuation that supports a significantly higher book value, the Company took the charges to present a more conservative balance sheet. The charge does not impact bank covenants, financing of the business or cash of the business, but it aligns our book value with the Company’s stock price.

The GAAP net loss from continuing operations for 2012 was $(93.3) million or $(3.93) per share, compared to $(12.0) million or $(0.55) per share for the prior year, driven primarily by the impact of the one-time non-cash charges in 2012.   The GAAP net loss from continuing operations for the fourth quarter of 2012 was $(74.0) million or $(3.11) per share, compared to $(5.7) million or $(0.24) per share for the fourth quarter of the prior year.

Guidance

The Company expects total full year 2013 net sales to increase 2% to 4% or in the range of $93.3 to $95.2 million and full year adjusted EBITDA to range between $9.2 and $9.4 million.  The Company expects Water segment revenue to increase 5% to 7% to $65.8 to $67.1 million.   The Company expects total first quarter 2013 sales to increase 3% to 5% or in the range of $20.4 to $20.8 million and adjusted EBITDA to increase 25% to 30% or in the range of $1.5 to $1.6 million.

Conference Call and Webcast

The Company will host a conference call to discuss these results at 4:30 p.m. ET today, March 19, 2013. Participants from the Company will be Billy D. Prim, Chief Executive Officer, Mark Castaneda, Chief Financial Officer, and Matt Sheehan, Chief Operating Officer. The call will be broadcast live over the Internet hosted at the Investor Relations section of Primo Water’s website at www.primowater.com, and will be archived online through April 2, 2013. In addition, listeners may dial (866) 712-2329 in North America, and international listeners may dial (253) 237-1244.

About Primo Water Corporation

Primo Water Corporation (Nasdaq:PRMW) is a leading provider of multi-gallon purified bottled water, self-serve filtered drinking water and water dispensers sold through major retailers throughout the United States and Canada. Learn more about Primo Water at www.primowater.com.

The Primo Water Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11942

Forward-Looking Statements

Certain statements contained herein are not based on historical fact and are “forward-looking statements” within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “feel,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “would,” “will,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially from those stated here. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the loss of major retail customers of the Company or the reduction in volume or change in timing of purchases by major retail customers, lower than anticipated consumer and retailer acceptance of and demand for the Company’s Exchange and Refill services and its water dispensers, changes in the Company’s relationships with its independent bottlers, distributors and suppliers, the entry of a competitor with greater resources into the marketplace and competition and other business conditions in the water and water dispenser industries in general, the Company’s experiencing product liability, product recall or higher than anticipated rates of warranty expense or sales returns associated with product quality or safety issues, the loss of key Company personnel, changes in the regulatory framework governing the Company’s business, the Company’s inability to efficiently and effectively integrate acquired businesses with the Company’s historical business, the Company’s inability to efficiently expand operations and capacity to meet growth, the Company’s inability to develop, introduce and produce new product offerings within the anticipated timeframe or at all, the Company’s inability to comply with its covenants in its credit facilities, the failure of lenders to honor their commitments under the Company’s credit facilities, as well as other risks described more fully in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K filed on March 15, 2012 and its subsequent filings under the Securities Exchange Act of 1934 (including its Annual Report on Form 10-K for the year ended December 31, 2012). Forward-looking statements reflect management’s analysis as of the date of this press release. The Company does not undertake to revise these statements to reflect subsequent developments, other than in its regular, quarterly earnings releases.

Use of Non-GAAP Financial Measures

To supplement its financial statements, the Company also provides investors with information related to adjusted EBITDA, which is a non-GAAP financial measure. Adjusted EBITDA is calculated as earnings (loss) before income tax expense, interest expense, depreciation and amortization expense, goodwill and other impairment, non-cash stock-based compensation expense, non-recurring and acquisition-related costs, loss (gain) on disposal of assets and other.  The Company believes adjusted EBITDA provides useful information to management and investors regarding certain financial and business trends relating to its financial condition and results of operations. Management uses adjusted EBITDA to compare the Company’s performance to that of prior periods for trend analyses and planning purposes.  Adjusted EBITDA is also presented to the Company’s board of directors and is used in its credit agreements.

Non-GAAP measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with generally accepted accounting principles in the United States (“GAAP”).  Adjusted EBITDA excludes significant expenses that are required by GAAP to be recorded in the Company’s financial statements and is subject to inherent limitations.

FINANCIAL TABLES TO FOLLOW

CONTACT: Primo Water Corporation
         Mark Castaneda, Chief Financial Officer
         (336) 331-4000

         ICR Inc.
         John Mills
         Katie Turner
         (646) 277-1228

Aehr Test Systems (AEHR) Announces Private Placement of Common Stock

FREMONT, Calif., March 19, 2013 (GLOBE NEWSWIRE) — Aehr Test Systems (Nasdaq:AEHR), a worldwide supplier of semiconductor test and burn-in equipment, announced today that on March 15, 2013, it entered into an agreement for the sale of 1,158,000 shares of its common stock in a private placement transaction with certain Directors and Officers of the Company and other accredited investors. The purchase price per share of the common stock sold in the private placement was $1.00, resulting in gross proceeds to the Company of $1,158,000, before offering expenses. The closing of the private placement took place on March 15, 2013, and no placement agent was used in connection with the transaction.

“We were able to minimize the expenses related to this private placement, resulting in higher net proceeds to the Company,” said Gayn Erickson, president and chief executive officer of Aehr Test Systems. “The additional funds will allow us more leeway in managing our working capital and our research and development program spending.”

The shares of the Company’s common stock sold in the private placement have not been registered under the Securities Act of 1933, as amended, and as such the shares may not be offered or sold in the United States absent registration under such act and applicable state securities laws or an applicable exemption from those registration requirements. The securities were offered and sold only to a limited number of accredited investors.

About Aehr Test Systems

Headquartered in Fremont, California, Aehr Test Systems is a worldwide provider of test systems for burning-in and testing logic and memory integrated circuits and has an installed base of more than 2,500 systems worldwide. Increased quality and reliability needs of the Automotive and Mobility integrated circuit markets are driving additional test requirements, capacity needs and opportunities for Aehr Test products in package and wafer level test.  Aehr Test has developed and introduced several innovative products, including the ABTS^TM and FOX^TM families of test and burn-in systems and the DiePak® carrier. The ABTS system is used in production and qualification testing of packaged parts for both low-power and high-power logic as well as all common types of memory devices. The FOX system is a full wafer contact test and burn-in system used for burn-in and functional test of complex devices, such as leading-edge memories, digital signal processors, microprocessors, microcontrollers and systems-on-a-chip. The DiePak carrier is a reusable, temporary package that enables IC manufacturers to perform cost-effective final test and burn-in of bare die. For more information, please visit the Company’s website at www.aehr.com.

Safe Harbor Statement

This release contains forward-looking statements that involve risks and uncertainties relating to the proposed use of proceeds of the private placement. Actual use of proceeds may vary from the proposed use of proceeds. These risks and uncertainties include, without limitation, risks related to the satisfaction of the conditions to, and the timing of, the closing of the private placement and Aehr Test’s need for additional capital in the future. See Aehr Test’s recent 10-K, 10-Q and other reports from time to time filed with the Securities and Exchange Commission for a more detailed description of the risks facing our business. The Company disclaims any obligation to update information contained in any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

CONTACT: Aehr Test Systems
         Gary Larson
         Chief Financial Officer
         (510) 623-9400 x321

         Financial Relations Board
         Marilynn Meek
         Analyst/Investor Contact
         (212) 827-3773