Satcon (SATC) Announces Effectiveness of 1-for-8 Reverse Stock Split

Satcon Technology Corporation® (NASDAQ CM:SATC), a leading provider of utility scale power conversion solutions for the renewable energy market, today confirmed that the previously announced 1-for-8 reverse split of its common stock, $0.01 par value per share, took effect at 12.01 a.m. on July 19, 2012. Satcon’s common stock began trading on a post-split basis on The NASDAQ Capital Market as of the opening of trading today.

Upon effectiveness of the reverse stock split, every eight shares of the company’s issued and outstanding common stock automatically converted into one issued and outstanding share of common stock. No cash or fractional shares were issued in connection with the reverse stock split, and instead the company rounded up to the next whole share in lieu of issuing factional shares that would have been issued in the reverse split.

The reverse stock split, which was approved by Satcon’s stockholders on June 20, 2012, reduced the outstanding number of shares of common stock from approximately 144.2 million to approximately 18.0 million. Concurrent with the reverse stock split, Satcon reduced the number of authorized shares of its common stock to 37.5 million.

For the 20 trading days immediately following the reverse split, Satcon’s common stock will trade on a post-split basis under the trading symbol “SATCD” as an interim symbol to denote the reverse split. After this 20 trading day period, Satcon’s common stock will resume trading under the symbol “SATC.” In addition, the split-adjusted common stock will trade under a new CUSIP number, 803893 403.

American Stock Transfer & Trust Company, LLC, the company’s transfer agent, is acting as the exchange agent for the reverse stock split. Stockholders with shares held in brokerage accounts or “street name” are not required to take any action to effect the exchange of their shares. Stockholders who have existing stock certificates will receive instructions from the transfer agent regarding the process for exchanging their shares shortly after July 19, 2012.

About Satcon

Satcon Technology Corporation is a leading provider of utility-grade power conversion solutions for the renewable energy market, enabling the industry’s most advanced, reliable and proven clean energy alternatives. For more than ten years, Satcon has designed and delivered advanced power conversion products that enable large-scale producers of renewable energy to convert the clean energy they produce into grid-connected efficient and reliable power. To learn more about Satcon, please visit www.Satcon.com.

Safe Harbor

Statements made in this press release that are not historical facts or which apply prospectively are forward-looking statements that involve risks and uncertainties. These statements include statements regarding the timing and effectiveness of the reverse stock split. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the company’s expectations. Additional information concerning risk factors is contained from time to time in the company’s SEC filings, including its Annual Report on Form 10-K and other periodic reports filed with the SEC. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The company expressly disclaims any obligation to update the information contained in this release.

Career Education Corp. (CECO) Appoints New Leaders & Establishes New Roles

Career Education Corporation (CEC) (NASDAQ: CECO), a global provider of postsecondary education programs and services, today announced a number of executive moves to bolster the company’s management team, realign and simplify the organization structure, and help CEC navigate its regulatory, legal and political environment – consistent with strategies outlined earlier in the year.

As part of these changes, the company will organize its more than 90 campuses – serving approximately 95,000 students – into University, Career, and International Education Groups. The previously announced plan to establish three education segments, versus the current six, will concentrate and enhance academic focus, consolidate and align similar institutions and better position the company in a competitive marketplace through fewer, stronger institutional brands.

University Education Group

Jason T. Friesen, who has held a number of leadership roles at CEC, has been named Senior Vice President, Chief University Education Officer. The new organization Friesen leads includes CEC’s two flagship higher education institutions – Colorado Technical University (CTU) and American InterContinental University (AIU).

Founded in 1965, CTU offers associate, bachelor’s, master’s and doctoral degrees through a combination of online and ground-based campuses. AIU, founded in 1970, provides a wide range of undergraduate and graduate degrees that also can be achieved online and through traditional coursework. Both institutions offer students award-winning Online Virtual Campuses.

Friesen has led CEC’s health institutions since the beginning of the year. He implemented significant improvements in academic quality, program integrity and operational excellence of those career-focused institutions. Friesen, who holds an M.B.A. degree from the University of Chicago, has broad financial experience at CEC and other publicly-traded companies. His recent role at the company included management and operational responsibility for 43 career health institutions.

CTU will be led by Jack Koehn as Acting President. Koehn, who serves as President of CTU Online and as the university’s Chief Operating Officer, holds a bachelor’s degree in Accounting from Indiana University. He will be supported by CTU’s veteran academic leadership team that includes Dr. Constance Johnson, Provost and Chief Academic Officer, and Dr. David Leasure, Chancellor. Koehn replaces Jeremy Wheaton who, after 17 years of diverse experience at CEC as well as the past year leading CTU, has resigned to pursue his own entrepreneurial interests. To help ensure a smooth and orderly transition, Wheaton will remain on the CTU Board of Trustees, and also serve through the end of the year as a consultant to CEC.

AIU continues to be led by University President Dr. George Miller, who has served that institution for eight years and played a pivotal role in building and enhancing AIU’s academic programs and student services. He holds a doctorate in Higher Education from the University of Virginia and a master’s degree in Educational Psychology from the University of Tennessee. A former professor, Miller earlier served as president of two colleges.

Career Education Group

As previously announced, Daniel J. Hurdle recently joined CEC as Senior Vice President, Chief Career Education Officer. Hurdle leads the new, consolidated Career Education Group, encompassing more than 70 culinary, health, and art, design and technology education institutions serving more than 40,000 students across the United States. The Career Education Group includes the renowned Le Cordon Bleu culinary education programs in the U.S., Sanford-Brown allied health institutions and the International Academy of Design & Technology.

Hurdle brings a successful operating and strategic background to the task of consolidating the company’s career-focused campuses, as well as considerable experience with complex business turnarounds. Hurdle will lead efforts to gain synergies and greater competitive advantage from fewer, more focused institutional brands.

During the course of the next few months, Friesen, who had been leading CEC’s health campuses, will help support the transition of responsibility for these institutions, which will be directly led by Hurdle.

Hurdle joined CEC from Caribou Coffee Company, the second largest premium coffeehouse in the United States, where he most recently served as Senior Vice President, Retail. Hurdle led Caribou’s more than 580 coffeehouses, including all company-operated and franchise locations in the U.S., as well as international franchise stores. Previously, Hurdle held senior positions at Washington Mutual and Starbucks Coffeehouse Company. He holds a master’s degree in Management Science from Cambridge University, where he was a Marshall Scholar, and a B.S. degree in Control Systems Engineering from the U.S. Naval Academy.

International Education Group

Michael J. Graham, CEC’s Executive Vice President and Chief Financial Officer (CFO), will continue to lead the company’s International Education Group, in addition to his role as CFO. Graham, who holds an M.B.A. degree from the University of Chicago, has held key financial and management positions at other publicly-traded companies as well as his five-year tenure as an executive at CEC.

CEC’s international academic offerings include the Paris-based INSEEC institutions, which offer high quality undergraduate and master’s programs in business as well as executive education programs across France. Catherine Lespine continues to lead these institutions as Managing Director, INSEEC Group. A graduate of the ESCP Business School, Lespine initially joined INSEEC as a member of its faculty, and previously taught Management and Strategy at two other French universities. The international group also offers campuses and programs in London as well as the International University of Monaco, which recently began offering an online Executive MBA program leveraging CEC’s award-winning Virtual Campus technology. Graham and his leadership team will seek to expand CEC’s international footprint, leveraging the company’s base in Western Europe.

External Relations & Regulatory Affairs

Given CEC’s complex and multi-tiered regulatory environment – coupled with the political and public scrutiny of all private postsecondary institutions – the company also has taken measures to help better address these influences. Tony Mitchell, a veteran public affairs and public relations executive with nearly two decades of political and government experience in Washington, D.C., was recently named the company’s Senior Vice President, Chief Communications and Public Affairs Officer. Mitchell leads CEC’s corporate and employee communications, government relations, public affairs, and community relations functions. Additionally, Diane Auer Jones, who served as Assistant Secretary for Postsecondary Education with the U.S. Department of Education and as senior staff at the White House and on Capitol Hill, has expanded her responsibilities as the company’s Vice President for External and Regulatory Affairs. Jones now oversees the corporate and campus regulatory teams and will help drive CEC’s regulatory compliance as well as its engagement with state education bodies, regional and national accreditors and the U.S. Department of Education. The company also is conducting a national search to add a Chief Compliance Officer to CEC’s leadership team.

“I am confident this executive team of leaders will further enhance academic excellence at our higher education institutions to support our broad and diverse student population,” said Steven H. Lesnik, Chairman, President and Chief Executive Officer of CEC. “Together, these executives will put our students first, strengthen our stakeholder relationships and regulatory compliance and drive greater synergies and growth opportunities for CEC. I am excited to have this leadership team in place to advance and execute the company’s business plans and strategies.”

Lesnik added: “Further, I want to thank Jeremy Wheaton for his many contributions to our organization and his stewardship at CTU for the past year. Jeremy is an energetic leader who will be missed by the team at CTU and his colleagues at CEC. I am pleased that he has decided to continue his role on the CTU Board of Trustees and to consult with CEC, which will greatly contribute to an orderly and effective transition. I am confident that Jack Koehn and the strong academic leadership team in place at CTU will continue to provide our students high quality programs, state-of-the-art education technology and an outstanding education experience.”

About Career Education Corporation

The colleges, schools and universities that are part of the Career Education Corporation (“CEC”) family offer high-quality education to a diverse population of approximately 95,000 students across the world in a variety of career-oriented disciplines through online, on-ground and hybrid learning program offerings. The more than 90 campuses that serve these students are located throughout the United States and in France, the United Kingdom and Monaco, and offer doctoral, master’s, bachelor’s and associate degrees and diploma and certificate programs.

CEC is an industry leader whose institutions are recognized globally. Those institutions include, among others, American InterContinental University (“AIU”); Brooks Institute; Colorado Technical University (“CTU”); Harrington College of Design; INSEEC Group (“INSEEC”) Schools; International University of Monaco (“IUM”); International Academy of Design & Technology (“IADT”); Le Cordon Bleu North America (“LCB”); and Sanford-Brown Institutes and Colleges. Through its schools, CEC is committed to providing high-quality education, enabling students to graduate and pursue rewarding career opportunities.

For more information, see CEC’s website at www.careered.com. The website includes a detailed listing of individual campus locations and web links to CEC’s colleges, schools, and universities.

Except for the historical and present factual information contained herein, the matters set forth in this release, including statements identified by words such as “will,” “anticipate,” “believe,” “plan,” “expect,” “intend,” “should,” “potential” and similar expressions, are forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on information currently available to us and are subject to various assumptions, risks, uncertainties and other factors that could cause our results of operations, financial condition, cash flows, performance, business prospects and opportunities to differ materially from those expressed in, or implied by, these statements. Except as expressly required by the federal securities laws, we undertake no obligation to update or revise such factors or any of the forward-looking statements contained herein to reflect future events, developments or changed circumstances, or for any other reason. These risks and uncertainties, the outcomes of which could materially and adversely affect our financial condition and operations, include, but are not limited to, the following: our continued compliance with and eligibility to participate in Title IV Programs under the Higher Education Act of 1965, as amended, and the regulations thereunder (including the “90-10 Rule”), as well as regional and national accreditation standards and state regulatory requirements; our ability to obtain accrediting agency approvals for existing, changed or new programs and to successfully defend litigation and other claims brought against us; rulemaking by the U.S. Department of Education and increased focus by the U.S. Congress and governmental agencies on for-profit education institutions; changes in enrollment, student mix and average registered credits taken by students; our ability to implement effective cost reduction strategies; and changes in the overall U.S. or global economy. Further information about these and other relevant risks and uncertainties may be found in CEC’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and its subsequent filings with the Securities and Exchange Commission.

Wizzard (WZE) Updates FAB’s Retail Media Distribution Business

Wizzard Media (NYSE MKT: WZE), the leading digital media podcast network, today released the second of several informational business overviews regarding FAB. Over the next several weeks, Wizzard plans to issue overviews based on various FAB business segments including: wholesale media distribution, retail distribution of media products as well as digital kiosk based franchise distribution of media products.

FAB Retail Media Distribution Business

Founded in 2003, FAB is headquartered in Beijing and distributes over 150,000 media based products including copyrighted DVD’s, Blu-ray Discs, music CD’s, video games and downloadable digital content through three distribution channels – wholesale, retail and digital kiosks.

Audited Revenues for FAB’s Retail business segment were $7.8 million in fiscal 2010 and $9.7 million in fiscal 2011. FAB currently operates a 30,000 sq. ft. store in the prestigious Joy City shopping mall (recently visited by Wizzard’s CEO and CFO) and is currently updating and relocating a second store to the new Guosheng shopping mall. See pictures of both of these stores by clicking here.

FAB’s Retail distribution business is built around large, showcase retail stores located in high-end shopping malls that sell media content and related media devices. FAB’s flagship stores serve as showcases for movie and music star autograph appearances. Through licensing agreements signed with media companies, FAB is able to use its stores as platforms for domestic star signing ceremonies, with over 2,000 events attended by millions of fans under its belt FAB’s Retail operation has grown to become China’s most well-known venue for new media releases and announcements.

In addition to generating significant revenue selling traditional media, the stores are flagships for building FAB brand awareness with consumers and promoting the expansion of FAB’s franchises. Additional retail stores are planned for Chengdu, Guangzhou, and Shanghai.

The Chinese government has recently announced initiatives for the protection of copyrighted content as both an official policy and a strategic priority for expansion by Western media, and it has publicly recognized FAB as an anti-piracy champion. Post-acquisition, the parties intend to aggressively pursue opportunities for expansion and further acquisition in China’s fragmented and emerging media industry.

For more information on FAB, please click here. For more information on FAB Retail business click here.

The acquisition of FAB by Wizzard is subject to approvals by each company’s shareholders, the satisfaction of customary closing conditions and regulatory approvals both in the U.S. and China.

About Wizzard Media:

Wizzard Media provides podcast publishers with distribution and monetization services. Our clients include Microsoft, National Geographic, Harvard Business Review, NPR and more than 10,000 others who use Wizzard Media products to measure their podcast audience, deliver popular audio and video entertainment and monetize their content through advertising and App sales and subscriptions. In 2011, the Wizzard Media Network received well over 1.64 billion podcast requests from approximately 50 million people worldwide through iPods, iPhones, iPads, iTunes, Blackberrys, Windows Phones, Androids and many other devices and destinations. We are part of a publicly held, Pittsburgh based company with thousands of shareholders and a world-class team. Visit us on the web at www.wizzardsoftware.com/media, email us at contact@wizzard.tv.

Legal Notice

Legal Notice Regarding Forward-Looking Statements: “Forward-looking Statements” as defined in the Private Securities litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services and changes in our business strategies.

First South Bancorp (FSBK) Reports Increase Quarterly and Six-Month Operating Results

WASHINGTON, N.C., July 18, 2012 /PRNewswire/ — First South Bancorp, Inc. (NASDAQ: FSBK) (the “Company”), the parent holding company of First South Bank (the “Bank”), reports its unaudited operating results for the quarter ended June 30, 2012, and for the six months ended June 30, 2012.

For the 2012 second quarter, net income increased 25.8% to $480,751 ($0.05 per diluted common share), from net income of $382,090 ($0.04 per diluted common share) earned in the comparative 2011 second quarter. Net income for the first six months of 2012 increased 33.0% to $942,647 ($0.10 per share diluted), from net income of $708,873 ($0.07 per share diluted) earned in the first six months of 2011.

Tom Vann, President and CEO, commented, “I am pleased to report the Company’s operating results for the second quarter of 2012. The Company continues to generate solid core earnings.  Second quarter 2012 net earnings were $480,751, after recording $775,000 of credit loss provisions and $898,090 of other real estate owned valuation adjustments.  In the 2012 second quarter, we continued evaluating the credit quality of the Bank’s loan portfolio and market values of foreclosed properties.  While the level of our nonperforming assets has declined by approximately $4.4 million during the first half of this year, based on our evaluation we will continue to take a conservative position in managing the financial stress some of our borrowers are facing.  Consequently, we are provisioning accordingly to maintain our allowance for loan and lease losses at an adequate level.  Mitigating our nonperforming assets will continue to be a top priority for the Bank during 2012,” said Mr. Vann.

Asset Quality

Total nonperforming assets, including loans on non-accrual status, restructured loans on non-accrual status and other real estate owned, declined to $55.7 million at June 30, 2012, from $60.0 million at December 31, 2011.  Loans on non-accrual status declined to $37.8 million at June 30, 2012, from $43.0 million at December 31, 2011.

The Bank recorded $775,000 of provisions for credit losses in the 2012 second quarter, compared to $3.1 million in the 2011 second quarter. Credit loss provisions were necessary to maintain the allowance for loan and lease losses (ALLL) at a level that management believes is adequate to absorb probable future losses in the loan portfolio.  The ALLL was $14.0 million at June 30, 2012 (2.8% of total loans), compared to $15.2 million at December 31, 2011 (2.8% of total loans). Net charge offs were $1.2 million in the 2012 second quarter, compared to $3.7 million in the 2011 second quarter.

Mr. Vann stated, “Management continues to take a prudent and conservative posture in provisioning for credit losses as we mitigate problem assets.  We believe the current level of our ALLL is adequate, however, there is no assurance in the future that regulators, increased risks in the loan portfolio, or changes in economic conditions will not require additional adjustments to the ALLL.”

Other real estate owned increased marginally to $17.8 million at June 30, 2012, from $17.0 million at December 31, 2011, reflecting foreclosure activity net of sales and write-downs of certain real estate properties.

Net Interest Income

Net interest income declined to $7.5 million for the 2012 second quarter, from $8.2 million for the 2011 second quarter. The change in levels of net interest income is influenced by the volume of interest-earning assets and interest-bearing liabilities and the management of rates earned and paid during each respective reporting period. The net interest margin on average earning assets remained relatively consistent at 4.4% for the 2012 second quarter, compared to 4.6% for 2011 second quarter.

Non-Interest Income

Total non-interest income increased to $2.7 million for the 2012 second quarter, from $2.5 million for the comparative 2011 second quarter.  The Bank strives to maintain a consistent level of revenue across loan and deposit service offerings.  Fees, service charges and loan servicing fees remained relatively constant at $1.7 million for the 2012 second quarter, compared to $1.8 million for the 2011 second quarter.

Net gains from mortgage loan sales increased to $264,266 for the 2012 second quarter, from $111,546 for the comparative 2011 second quarter.  Net gains from investment securities sales were $485,047 for the 2012 second quarter. There were no sales of investment securities during 2011 second quarter.

In its efforts of mitigating nonperforming assets, the Bank recognized net losses of $47,056 on the sale of other real estate owned properties during the 2012 second quarter, compared to net gains of $53,387 in the 2011 second quarter.

Non-Interest Expense

Total non-interest expense increased to $8.6 million for the 2012 second quarter, from $7.0 million for the comparative 2012 second quarter.  Compensation and fringe benefits, the largest component of these expenses, increased to $4.4 million for the 2012 second quarter, from $3.9 million for the comparative 2011 second quarter.  This increase primarily results from the accrual of anticipated lump-sum retirement benefits payable to the current CEO upon his retirement at the end of the 2012 third quarter, and the employment of the successor CEO during the current period.

Expenses attributable to valuation adjustments, ongoing maintenance and property taxes for other real estate owned properties increased to $1.3 million for the 2012 second quarter, from $265,334 for the comparative 2011 second quarter.  “The stabilization of property values continues to be an issue in the markets we serve.  We will continue monitoring these values and mitigate nonperforming assets as quickly as feasible,” said Mr. Vann.

FDIC insurance premiums declined to $259,087 for the 2012 second quarter, from $293,284 for the comparative 2011 second quarter, reflecting a new change in the FDIC’s deposit insurance assessment calculation based on assets and tier one capital versus deposits.

Other noninterest expenses including premises and equipment, advertising, data processing, repairs and maintenance, office supplies, professional fees, taxes and insurance, etc., remained relatively consistent during the respective reporting periods.

Income tax expense increased to $272,348 for the 2012 second quarter, compared to a $225,671 for the comparative 2011 second quarter.  Changes in the amount of income tax expense reflects changes in pretax income, deductible expenses, the application of permanent and temporary differences and the applicable income tax rates in effect during each period.

Balance Sheet

Total assets declined to $742.0 million at June 30, 2012, from $746.9 million at December 31, 2011. Net loans and leases receivable declined to $491.5 million at June 30, 2012, from $525.2 million at December 31, 2011, reflecting the net of principal repayments, the volume of loans originated, foreclosures, sales, and securitizations of loans into mortgage-backed securities during the current year.

Investment securities increased to $165.0 million at June 30, 2012, from $138.5 million at December 31, 2011, reflecting the net of purchases, sales, and securitizations and principal repayments of certain mortgage loans during the current quarter.  Mortgage-backed securities increased to $146.4 million at June 30, 2012, from $138.5 million at December 31, 2011.  During the current period, the Bank implemented a strategy to diversify its investment portfolio through the purchase of certain tax-exempt municipal securities.  At June 30, 2012, the balance of newly acquired municipal securities was $18.6 million.

Cash and overnight investments increased to $34.8 million at June 30, 2012, from $32.8 million at December 31, 2011, reflecting net changes in the Bank’s cash flow and liquidity position resulting primarily from core deposit growth and slower loan demand.

Total deposits declined to $634.6 million at June 30, 2012, from $642.6 million at December 31, 2011.  Core checking and savings accounts increased to $291.6 million at June 30, 2012, from $272.7 at December 31, 2011; while certificates of deposits declined to $343.0 million at June 30, 2012, from $370.0 million at December 31, 2012.  The Bank strives to manage its cost of deposits by monitoring the volume and rates paid on maturing certificates of deposits in relationship to current funding needs and market interest rates.  The Bank did not renew certain higher rate maturing time deposits during the 2012 second quarter, and was able to reprice new and maturing time deposits at lower rates.  The cost of funds improved to 0.83% for the 2012 second quarter, from 1.14% for the comparative 2011 second quarter.

Stockholders’ equity increased to $86.2 million at June 30, 2012, from $84.1 million at December 31, 2011, reflecting year-to-date net income and changes in accumulated other comprehensive income.  The equity to assets ratio was 11.6% at June 30, 2012, compared to 11.3% at December 31, 2011.  There were 9,751,271 common shares outstanding at both June 30, 2012 and December 31, 2011.  The book value per common share increased to $8.84 at June 30, 2012, from $8.63 at December 31, 2011.

First South Bancorp, Inc. may be accessed on its website at www.firstsouthnc.com.  The Company’s common stock symbol as traded on the NASDAQ Global Select Market is “FSBK”.

First South Bank has been serving the citizens of eastern North Carolina since 1902 and offers a variety of financial products and services, including a leasing company.  Securities brokerage services are made available through an affiliation with an independent broker/dealer. The Bank operates through its main office headquartered in Washington, North Carolina, and has 26 full service branch offices located throughout central, eastern, northeastern and southeastern North Carolina.

Statements contained in this release, which are not historical facts, are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors which include the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, the risks of changes in interest rates, the effects of competition, and including without limitation to other factors that could cause actual results to differ materially as discussed in documents filed by the Company with the Securities and Exchange Commission from time to time.

For more information contact:
First South Bancorp, Inc. Bill Wall (CFO) (252-940-5017)
Website: www.firstsouthnc.com

SOURCE First South Bancorp, Inc.

China BAK (CBAK) Announces New Contract to Supply Cylindrical Battery Cells to AC Propulsion

SHENZHEN, China, July 18, 2012 /PRNewswire-Asia/ — China BAK Battery, Inc. (“China BAK”, the “Company”, or “we”) (Nasdaq: CBAK), a leading global manufacturer of lithium-based battery cells, today announced that the Company has entered into a new contract to supply 0.5 million units of cylindrical battery cells to AC Propulsion, a producer of electric vehicle technology based in Shanghai and California. For more information regarding AC Propulsion, please visit http://www.acpropulsion.com/.

As per the contract, China BAK will deliver 540,000 units of cylindrical battery cells to AC Propulsion by the end of 2012, which will be used to power 100 electric cars. AC Propulsion previously purchased a sample order of the Company’s cylindrical battery cells for trial and testing purposes and provided positive feedback on product quality and performance of the battery cells.

“We are encouraged by the positive feedback from AC Propulsion and are pleased to expand our cooperation with them,” commented Mr. Xiangqian Li, CEO of China BAK. “We expect to receive additional orders for our cylindrical battery cells used to power electric cars. We believe revenue growth from this segment will be driven by our high quality products, technical capability and growing market recognition,” added Mr. Li.

About China BAK Battery, Inc.

China BAK Battery, Inc. (NASDAQ: CBAK) is a leading global manufacturer of lithium-based battery cells. The Company produces battery cells that are the principal component of rechargeable batteries commonly used in cellular phones, smartphones, notebook computers, e-bikes, electric vehicles, power tools, uninterruptible power supplies, and portable consumer electronics such as portable media players, portable gaming devices, personal digital assistants, or PDAs, camcorders, digital cameras, and Bluetooth headsets. China BAK Battery, Inc.’s production facilities, located in Shenzhen and Tianjin, PRC, cover over three million square feet. For more information regarding China BAK Battery, Inc., please visit http://www.bak.com.cn.

Safe Harbor Statement

This press release contains forward-looking statements, which are subject to change. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All “forward-looking statements” relating to the business of China BAK Battery, Inc. and its subsidiary companies, which can be identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties which could cause actual results to differ. Please refer to China BAK’s Annual Report on Form 10-K for the fiscal year ended September 30, 2011, as well as China BAK’s Quarterly Reports on Form 10-Q that have been filed since the date of such annual report, for specific details on risk factors. Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. China BAK’s actual results could differ materially from those contained in the forward-looking statements. China BAK undertakes no obligation to revise or update its forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

Kips Bay Medical (KIPS) Announces Filing the IDE for a U.S. FDA Study

Kips Bay Medical, Inc. (NASDAQ:KIPS) along with Manny Villafaña, its Founder, Chairman and CEO, announced today that Kips Bay Medical has filed an application for an Investigational Device Exemption (“IDE”) with the U.S. Food & Drug Administration (“FDA”) to include four U.S. sites in its “eMESH I” clinical feasibility study of its eSVS^® Mesh device currently being pursued in Europe.

Kips Bay Medical submitted this IDE application based upon the FDA’s response to its April 2012 Pre-IDE submission in which Kips Bay provided additional information to the FDA on the performance of its eSVS Mesh. The FDA advised Kips Bay Medical that it was allowed to proceed with this filing for an IDE.

As previously announced, Kips Bay Medical has been pursuing a feasibility trial at eight well known cardiac centers throughout Germany, Switzerland, Italy and France. This European trial is a multi-center, prospective, randomized study of external saphenous vein graft support using its eSVS Mesh in coronary artery bypass grafting (“CABG”) surgery and is titled the “eMESH I” study. If Kips Bay Medical receives approval of this application for an IDE, it intends to expand the eMESH I study to include four of the leading heart hospitals in the United States. The FDA has 30 days to respond to an IDE application.

The objective of this study is to demonstrate the initial safety and performance of the Kips Bay Medical eSVS Mesh sufficient to allow the FDA to approve an IDE for a pivotal study. Kips Bay Medical is currently working through the ethics committee review and approval process at a select group of European study sites. Kips Bay Medical intends to enroll up to 120 patients at eight European and four U.S. cardiac centers, with a primary efficacy endpoint of graft patency, or openness, at twelve months after CABG surgery. Hands-on surgical training with the eSVS Mesh for physicians at several study sites in Europe has already commenced.

Kips Bay Medical Founder, Manny Villafaña, said, “We are very excited that U.S. cardiac surgeons will also have the opportunity to work with our eSVS Mesh. Following an estimated 350+ implants we have achieved overseas, this represents a significant milestone in our ability to demonstrate the performance of our eSVS Mesh technology.” Villafaña further stated, “Having previously navigated this process with other companies that I founded, this is a significant step for Kips Bay Medical.”

About Kips Bay Medical

Kips Bay Medical, Inc., founded in 2007 and headquartered in Minneapolis, Minnesota, is a medical device company focused on manufacturing and commercializing its external saphenous vein support technology, or eSVS MESH, for use in coronary artery bypass grafting surgery. The eSVS MESH is a nitinol mesh sleeve that, when placed over a saphenous vein graft during CABG surgery, is designed to improve the structural characteristics and long-term performance of the saphenous vein graft. Additional information about Kips Bay Medical, Inc. can be found at www.KipsBayMedical.com.

Safe Harbor

Certain statements in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are provided under the protection of the safe harbor for forward-looking statements provided by that Act. For example, statements in this press release regarding Kips Bay Medical’s IDE and its ability to include four U.S. sites in its feasibility study, are forward-looking statements. These statements involve risks and uncertainties which could cause results to differ materially from those projected, including but not limited to the risks detailed from time to time in Kip Bay Medical’s SEC reports, including its most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. Kips Bay Medical encourages you to consider all of these risks, uncertainties and other factors carefully in evaluating the forward-looking statements contained in this release.

Augusta (AZC) Announces 34% Increase in Rosemont Sulfide Mineral Resource

TranSwitch Corp. (TXCC) Enters Into $11 Million Common Stock Purchase Agreement

TranSwitch Corporation (NASDAQ: TXCC) a leading provider of semiconductor solutions for multimedia connectivity and processing today announced that it has entered into a common stock purchase agreement with Aspire Capital Fund, LLC, an Illinois limited liability company. Aspire Capital has committed to purchase up to $11 million of TranSwitch’s common stock over the next two years at prices based on the market price at the time of each sale. On execution of the agreement, Aspire Capital made an initial purchase of 990,099 shares of common stock for $1,000,000, which was approximately a 5% discount to Friday’s closing price of $1.07.

“We continue to make great strides in transitioning our business and growing our opportunities for HDplay™ video products. In concert with the recently announced $8 million reductions in annual operating expenses, we believe this agreement should give us access to the cash necessary to execute our business plan,” said Dr. M. Ali Khatibzadeh, President and CEO of TranSwitch. “Aspire Capital will purchase shares from TranSwitch for its own account which allows Aspire to become a meaningful and long-term shareholder in the company. We look forward to working with Aspire as we continue to advance our entry into the high growth video connectivity market. In tandem, we are continuing to pursue monetization of certain non-strategic assets including our legacy patent portfolio in order to further bolster our balance sheet and enhance execution of our growth plan.”

Key aspects of the Purchase Agreement include:

• TranSwitch will control the timing and amount of any sale of common stock to Aspire Capital and will know the sale price before directing Aspire Capital to purchase shares.
• Aspire Capital has no right to require any sales by the Company, but is obligated to make purchases as the Company directs, in accordance with the terms of the Purchase Agreement.
• There are no limitations on use of proceeds, financial covenants, and restrictions on future financings, rights of first refusal, participation rights, penalties or liquidated damages in the Purchase Agreement.
• The Purchase Agreement may be terminated by TranSwitch at any time without additional cost or penalty.
• TranSwitch has issued to Aspire Capital additional common shares as consideration for entering into this agreement.
• In connection with entering into the Purchase Agreement with Aspire Capital, the Company terminated the At Market Issuance Sales Agreement with MLV & Co. LLC Capital entered into and announced in February 2012.

The common stock issued or to be issued under the agreement was or will be issued pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-162609). The Company will file a prospectus supplement with the Securities and Exchange Commission in connection the transaction dated July 17, 2012. A more complete and detailed description of the Purchase Agreement with Aspire Capital is set forth in the Company’s Current Report on Form 8-K, filed on July 17, 2012, with the U.S. Securities and Exchange Commission.

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

About TranSwitch Corporation

TranSwitch Corporation (NASDAQ: TXCC) designs, develops and supplies innovative integrated circuit (IC) and intellectual property (IP) solutions that provide core functionality for voice, data and video communications equipment for network, enterprise and customer premises applications. We provide integrated multi-core network processor System-on-a-Chip (SoC) solutions and software solutions for Fixed, 3G and 4G Mobile, VoIP and Multimedia Infrastructures. For the customer-premises market, we offer interoperable connectivity solutions that provide a bridge between HDMI and DisplayPort and enable the distribution and presentation of high-definition (HD) content for consumer electronic and personal computer markets and also provide a family of communications processors that provide best-in-class performance for a range of applications. Overall, we have over 100 active customers, including the leading global telecom equipment providers, semiconductor and consumer product companies. For more information, please visit www.transwitch.com.

About Aspire Capital Fund, LLC

Aspire Capital Fund, LLC is an institutional investor based in Chicago, Illinois with a fundamental investment approach. Aspire Capital invests in a wide range of companies and industries emphasizing life sciences, energy and technology companies.

Forward-looking statements in this release, including statements regarding management’s expectations for future financial results and the markets for TranSwitch’s products, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements regarding TranSwitch, its operations and its financial results, involve risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements, including without limitation the risks associated with downturns in economic conditions generally and in the telecommunications and data communications markets and the semiconductor industry specifically; risks in product development and market acceptance of and demand for TranSwitch’s products and products developed by TranSwitch’s customers; risks associated with foreign sales and high customer concentration; risks associated with competition and competitive pricing pressures; risks in technology development and commercialization; risks of failing to attract and retain key managerial and technical personnel; risks relating to TranSwitch’s available cash; risks associated with acquiring new businesses; risks of dependence on third-party VLSI fabrication facilities; risks related to intellectual property rights and litigation; and other risks detailed in TranSwitch’s filings with the Securities and Exchange Commission.

TranSwitch expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in expectations or any change in events, conditions or circumstances on which any such statement is based.

TranSwitch is a registered trademark of TranSwitch Corporation.

Fuel Tech (FTEK) Awarded $36.6 Million Air Pollution Control Contract in Chile

Represents the Largest Air Pollution Control Contract in Company History

Fuel Tech, Inc. (NASDAQ: FTEK), a world leader in advanced engineering solutions for combustion and emissions control systems for utility and industrial applications, today announced it was awarded the largest air pollution control contract in its history. The $36.6 million order, placed by E.CL S.A., a major utility in Chile, includes turnkey installation of Low NO_x Burners (LNBs) and Over-Fire Air (OFA) systems and mill modernization for six coal-fired units. Equipment deliveries are scheduled to commence during the first quarter of 2013, with project completion occurring during the third quarter of 2014.

Fuel Tech’s burner technologies are a cost-effective way to reduce nitrogen oxide (NO_x) emissions and solve combustion problems in coal, gas or oil combustion systems. Fuel Tech’s OFA systems reduce NO_x formation by diverting air from the burner zone to the upper furnace for enhanced combustion staging. Low NO_x Burners limit the formation of thermal NO_x and control how the fuel bound nitrogen is released.

“We have consciously expanded our international presence to achieve both growth and regulatory diversification in our air pollution control business. We have strategically focused on key geographic markets and are thrilled to be announcing an order of this magnitude,” commented Douglas G. Bailey, Chairman, President and Chief Executive Officer. “In terms of installed capacity, E.CL S.A. is a major electric generator in Chile and is the main electricity provider in the country’s northern energy grid. In this instance, E.CL is upgrading its combustion systems to reduce NO_x emissions below 500 mg/m³ in order to comply with the new Chilean environmental law signed by the President of the Republic of Chile on January 18, 2011. French-Belgian electric company GDF Suez S.A., a global leader in independent power generation, holds a majority controlling stake in E.CL.”

Mr. Bailey concluded, “We are pleased to be partnering with a customer of this size and caliber. This contract award represents our second LNB project in Chile and demonstrates our global reach and combustion capabilities. With our industry-leading suite of air pollution control products and services, we believe we are well positioned to compete for additional opportunities for combustion optimization in the domestic and international markets.”

About Fuel Tech

Fuel Tech is a leading technology company engaged in the worldwide development, commercialization and application of state-of-the-art proprietary technologies for air pollution control, process optimization, and advanced engineering services. These technologies enable customers to produce both energy and processed materials in a cost-effective and environmentally sustainable manner.

The Company’s nitrogen oxide (NO_x) reduction technologies include advanced combustion modification techniques – such as Low NO_x Burners and Over-Fire Air systems – and post-combustion NO_x control approaches, including NO_xOUT^® and HERT™ SNCR systems as well as systems that incorporate ASCR™ (Advanced Selective Catalytic Reduction), CASCADE™, ULTRA™ and NO_xOUT-SCR^® processes. These technologies have established Fuel Tech as a leader in NO_x reduction, with installations on over 700 units worldwide, where coal, fuel oil, natural gas, municipal waste, biomass and other fuels are utilized.

The Company’s FUEL CHEM^® technology revolves around the unique application of chemicals to improve the efficiency, reliability, fuel flexibility and environmental status of combustion units by controlling slagging, fouling, corrosion, opacity and operational issues associated with sulfur trioxide, ammonium bisulfate, particulate matter (PM_2.5), carbon dioxide and NO_x. The Company has experience with this technology, in the form of a customizable FUEL CHEM program, on over 110 combustion units burning a wide variety of fuels including coal, heavy oil, biomass and municipal waste.

Fuel Tech also provides a range of combustion optimization services, including airflow testing, coal flow testing and boiler tuning, as well as services to help optimize selective catalytic reduction system performance, including catalyst management services and ammonia injection grid tuning. In addition, flow corrective devices and physical and computational modeling services are available to optimize flue gas distribution and mixing in both power plant and industrial applications.

Many of Fuel Tech’s products and services rely heavily on the Company’s exceptional Computational Fluid Dynamics modeling capabilities, which are enhanced by internally developed, high-end visualization software. These capabilities, coupled with the Company’s innovative technologies and multi-disciplined team approach, enable Fuel Tech to provide practical solutions to some of our customers’ most challenging problems. For more information, visit Fuel Tech’s web site at www.ftek.com.

This press release may contain statements of a forward-looking nature regarding future events. These statements are only predictions and actual events may differ materially. Please refer to documents that Fuel Tech files from time to time with the Securities and Exchange Commission for a discussion of certain factors that could cause actual results to differ materially from those contained in the forward-looking statements.

RiT (RITT) SMART Xlight Fiber Optic Cabling Solution Certified by Independent Performance Laboratory

– Intertek lab tests certify that RiT’s high performance 10Gb/s and 100Gb/s-ready end-to-end cabling solutions exceed ANSI/TIA-568-C performance requirements –

StemCells, Inc. (STEM) Human Neural Stem Cells Restore Memory in Alzheimers Model

NEWARK, Calif., July 17, 2012 (GLOBE NEWSWIRE) — StemCells, Inc. (Nasdaq:STEM), today announced preclinical data demonstrating that its proprietary human neural stem cells restored memory and enhanced synaptic function in two animal models relevant to Alzheimer’s disease (AD). The data was presented today at the Alzheimer’s Association International Conference 2012 in Vancouver, Canada.

The study results showed that transplanting the cells into a specific region of the brain, the hippocampus, statistically increased memory in two different animal models. The hippocampus is critically important to the control of memory and is severely impacted by the pathology of AD. Specifically, hippocampal synaptic density is reduced in AD and correlates with memory loss. The researchers observed increased synaptic density and improved memory post transplantation. Importantly, these results did not require reduction in beta amyloid or tau that accumulate in the brains of patients with AD and account for the pathological hallmarks of the disease.

The research was conducted in collaboration with a world-renowned leader in AD, Frank LaFerla, Ph.D., Director of the University of California, Irvine (UCI) Institute for Memory Impairments and Neurological Disorders (UCI MIND), and Chancellor’s Professor, Neurobiology and Behavior in the School of Biological Sciences at UCI. Matthew Blurton-Jones, Ph.D., Assistant Professor, Neurobiology and Behavior at UCI, presented the study results.

“This is the first time human neural stem cells have been shown to have a significant effect on memory,” said Dr. LaFerla.  “While AD is a diffuse disorder, the data suggest that transplanting these cells into the hippocampus might well benefit patients with Alzheimer’s. We believe the outcomes in these two animal models provide strong rationale to study this approach in the clinic and we wish to thank the California Institute of Regenerative Medicine for the support it has given this promising research.”

Stephen Huhn, M.D., FACS, FAAP, Vice President and Head of the CNS Program at StemCells, added, “While reducing beta amyloid and tau burden is a major focus in AD research, our data is intriguing because we obtained improved memory without a reduction in either of these pathologies. AD is a complex and challenging disorder. The field would benefit from the pursuit of a diverse range of treatment approaches and our neural stem cells now appear to offer a unique and viable contribution in the battle against this devastating disease.”

About Alzheimer’s Disease

Alzheimer’s disease is a progressive, fatal neurodegenerative disorder that results in loss of memory and cognitive function. Today there is no cure or effective treatment option for patients afflicted by Alzheimer’s disease. According to the Alzheimer’s Association, approximately 5.4 million Americans have Alzheimer’s disease, including nearly half of people aged 85 and older. The prevalence of Alzheimer’s disease is expected to increase rapidly as a result of the country’s aging population.

About StemCells, Inc.

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

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

Apart from statements of historical fact, the text of this press release constitutes forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created therein. These statements include, but are not limited to, statements regarding the prospect of the Company’s HuCNS-SC cells to restore lost memory in animal models of Alzheimer’s disease; the prospect of successful results from this research collaboration and advancing to clinical testing in Alzheimer’s disease; the potential of the Company’s HuCNS-SC cells to treat a broad range of central nervous system disorders such as Alzheimer’s disease; the prospect of initiating a clinical trial in Alzheimer’s disease; and the future business operations of the Company, including its ability to conduct clinical trials as well as its other research and product development efforts. These forward-looking statements speak only as of the date of this news release. The Company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Such statements reflect management’s current views and are based on certain assumptions that may or may not ultimately prove valid. The Company’s actual results may vary materially from those contemplated in such forward-looking statements due to risks and uncertainties to which the Company is subject, including the fact that additional trials will be required to demonstrate the safety and efficacy of the Company’s HuCNS-SC cells for the treatment of any disease or disorder; uncertainty as to whether the results of the Company’s preclinical studies in Alzheimer’s disease will be replicated in humans; uncertainty as to whether the FDA or other applicable regulatory agencies will permit the Company to continue clinical testing in spinal cord injury, age-related macular degeneration or in future clinical trials of proposed therapies for other diseases or conditions given the novel and unproven nature of the Company’s technologies; uncertainties regarding the Company’s ability to recruit the patients required to conduct its clinical trials or to obtain meaningful results; uncertainties regarding the Company’s ability to obtain the increased capital resources needed to continue its current and planned research and development operations; uncertainty as to whether HuCNS-SC and any products that may be generated in the future in the Company’s cell-based programs will prove safe and clinically effective and not cause tumors or other adverse side effects; uncertainties regarding the Company’s ability to commercialize a therapeutic product and its ability to successfully compete with other products on the market; and other factors that are described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, and in its subsequent reports on Forms 10-Q and 8-K.

CONTACT: Ian Stone
         Russo Partners
         (619) 308-6541

GlobalWise (GWIV) CEO to Be Featured Speaker at World Expo 2012 Conference

COLUMBUS, OH — (Marketwire) — 07/17/12 — GlobalWise Investments, Inc. (OTCBB: GWIV) (OTCQB: GWIV) (www.GlobalWiseInvestments.com) and its wholly owned subsidiary Intellinetics, Inc., a leading-edge technology company focused on the design, implementation and management of cloud-based Enterprise Content Management (“ECM”) systems in both the public and private sectors, today announce GlobalWise CEO William J. “BJ” Santiago will be a featured speaker and panelist at the esteemed World Expo 2012 Managed Print Summit to be held July 17 – 19 in Las Vegas.

The World Expo (www.worldexposhow.com) conference is the premier location for Managed Print Services (MPS) and Imaging industry executives and thought leaders. At the conference, attendees will be able to learn about the latest technology trends in the MPS industry on topics such as Business Management, Document & Print Management, Hardware & Supplies Solutions, Sales and Marketing, and Managed Network Solutions.

GlobalWise CEO William J. “BJ” Santiago has been chosen as one of the featured speakers at this prestigious event in a session titled “The Secret Sauce of ECM in the Copier World.” In this discussion, Mr. Santiago will outline a forward-thinking approach for copier and imaging dealers who in the past have not had an ECM solution. Intellinetics’ Intellivue™ software is a creative convergence of cloud-based technologies and click-charge ECM models, which allows dealers and OEM manufacturers to deliver a robust ECM solution without complexity or large capital expenditures.

“The World Expo 2012 is the premier managed print conference in the industry,” stated Mr. Santiago. “I am proud to be chosen as a featured presenter at the conference. This is a huge validation of the cloud-based Intellivue™ software model for the copier industry. Our software represents a game-changing opportunity for the copier and imaging industry by implementing a pay-per-click charge for scanning and archiving documents through copier hardware. I will be sharing with them the ‘secret sauce’ for implementing a cost-effective ECM solution for their clients, while enabling new revenue opportunities for them and adding increasing value to their portfolio of services.”

Mr. Santiago has also been requested to sit on a MPS Panel at the show titled “Making Money Without Print.” The panel will be hosted by Mike Stramaglio, CEO of MWA Intelligence, who recently signed with GlobalWise as a Channel Partner. Other panelists will include senior executives from Toshiba, NewField IT and SolutionOne. This panel will focus on additional revenue opportunities for copier and imaging dealers outside of the traditional per-page charges they are able to collect.

“GlobalWise is moving into a much larger world of opportunity by presenting at this prestigious conference,” concluded Mr. Santiago. “The entire MPS industry is seeking new revenue sources. Not only is ECM the solution, it gives their clients an incredible tool for managing documents that was previously unattainable at a reasonable price. The power of cloud delivery and the on-demand template based solution store of Intellivue™ will allow dealers to further enable long-term customer relationships and a new annuity profit center. Visit Booth #351 at the show for a demonstration of our incredible software.”

About GlobalWise Investments, Inc.

GlobalWise Investments, Inc., via its wholly owned subsidiary Intellinetics, Inc., is a Columbus, Ohio based Enterprise Content Management (ECM) pioneer with industry-leading software that delivers cloud ECM based solutions on-demand. The Company’s flagship platform, Intellivue™, represents a new industry benchmark and game-changing solution by enabling clients to access and manage the content of every scanned document, file, spreadsheet, email, photo, audio file or video tape — virtually anything that can be digitized — in their enterprise from any PC, laptop, tablet or smartphone from anywhere in the world.

For additional information, please visit the Company’s corporate website: www.GlobalWiseInvestments.com

This press release may contain “forward-looking statements.” Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements may include, without limitation, statements about our market opportunity, strategies, competition, expected activities and expenditures as we pursue our business plan. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot predict the effect that market conditions, customer acceptance of products, regulatory issues, competitive factors, or other business circumstances and factors described in our filings with the Securities and Exchange Commission may have on our results. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.

GlobalWise Investments, Inc.
Columbus, Ohio
www.GlobalWiseInvestments.com
614-388-8909
Contact@GlobalWiseInvestments.com

Mission Investor Relations
Atlanta, Georgia
http://www.MissionIR.com
404-941-8975

Codexis (CDXS) Advances Fuels Discussions with Shell

Codexis, Inc. (Nasdaq:CDXS), a developer of cost-advantaged processes for the production of biofuels, bio-based chemicals and pharmaceuticals, today announced that the company has signed an Exclusive Negotiation Agreement with Shell. Under this agreement, Shell has agreed to negotiate exclusively with Codexis through September 1, 2012 the terms of a new agreement under which Shell would grant to the company certain rights and licenses in the biofuels field to develop and sell cellulase enzymes to third parties on a worldwide basis, except Brazil. Codexis has exclusive rights to commercialize its cellulase enzyme technology in all other fields.

“Currently, Codexis’ cellulase enzyme technology can only be commercialized in the advanced biofuels field through Shell and its affiliates. If we finalize a new agreement with Shell as we currently anticipate, the rest of the world’s second generation biofuels producers will now also be available as target customers for our cost effective cellulase enzyme technology,” said John Nicols, Codexis’ President and Chief Executive Officer.

Codexis and Shell also agreed under the Exclusive Negotiation Agreement that, beginning on August 31, 2012, Shell can elect to reduce between 13 and 48 full-time employee equivalents (FTEs) under the Codexis – Shell Collaborative Research Agreement on one day notice. Previously, the required notice period for this type of FTE reduction was 90 days. If Shell were to provide Codexis with an FTE reduction notice on or after August 31, 2012, Codexis expects that it would take appropriate cost reduction measures to reduce its operating expenses.

About Codexis, Inc.

Codexis, Inc. is a developer of cost-advantaged processes for the production of biofuels, bio-based chemicals, and pharmaceutical intermediates. Codexis’ product lines include CodeXyme™ Cellulase Enzymes and CodeXol™ Detergent Alcohol. Partners and customers include global leaders such as Shell, Merck and Pfizer. For more information, see www.codexis.com.

Forward-Looking Statements

This press release contains forward-looking statements relating to our ability to obtain rights from Shell to sell cellulase enzymes to third party biofuels producers and cost-reduction measures that Codexis may take in the future. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control and could materially affect actual results. Factors that could materially affect actual results include our need for substantial additional capital in the future in order to expand our business, our dependence on our collaborators, various challenges to the feasability of the production and commercialization of biofuels and bio-based chemicals derived from cellulose and our limited experience manufacturing and selling cellulase enzymes. Additional factors that could materially affect actual results can be found in Codexis’ Quarterly Report on Form 10-Q for the period ended March 31, 2012 filed with the Securities and Exchange Commission on May 10, 2012, including under the caption “Risk Factors.” Codexis expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.

Peregrine (PPHM) Announces Initiation of a Phase I Rectal Cancer Investigator-Sponsored Trial

TUSTIN, CA and DALLAS, TX — (Marketwire) — 07/16/12 — Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM), a clinical-stage biopharmaceutical company developing first-in-class monoclonal antibodies for the diagnosis and treatment of cancer and viral infections, today announced the initiation of an investigator-sponsored trial (IST) for patients with stage II or stage III rectal adenocarcinoma. This open-label Phase I trial will treat up to 18 patients with Peregrine’s investigational monoclonal antibody bavituximab in combination with the chemotherapeutic agent capecitabine and radiation therapy. Peregrine’s lead clinical candidate, bavituximab, is a phosphatidylserine (PS)-targeting antibody that has demonstrated promising tumor response and survival trends in randomized Phase II trials in non-small cell lung cancer (NSCLC).

“Preclinical studies have repeatedly shown that radiation increases the exposure of bavituximab’s target molecule, PS, on the surface of tumor blood vessel cells. Additionally, bavituximab in combination with radiation therapy has demonstrated potent anti-tumor effects in models of lung and brain cancer, with evidence of enhanced immunity,” said Jeffrey Meyer, M.D., principal investigator of the study and assistant professor of radiation oncology at the University of Texas Southwestern Medical Center. “We look forward to evaluating this promising treatment combination in patients with advanced rectal cancer.”

Bavituximab is also being evaluated in randomized Phase II trials in NSCLC, and pancreatic cancer, as well as multiple ISTs in additional oncology indications.

“Building on consistently promising data in multiple preclinical tumor models, this trial represents our first clinical study of bavituximab combined with radiation,” said Joseph Shan, vice president of clinical and regulatory affairs of Peregrine. “We intend for this trial to be the first step in assessing bavituximab’s potential benefit in several additional oncology indications commonly treated with radiation therapy.”

About the Phase I Rectal Cancer Trial
This Phase I single-arm, open-label, dose-escalation trial will enroll up to 18 patients with stage II or III rectal adenocarcinoma, with Eastern Cooperative Oncology Group (ECOG) performance status of 0-1. Patients will receive weekly bavituximab for a total of 8 weeks with administration of capecitabine (825 mg/m2) on each of the 28 days of radiation therapy (1.8 Gy/fraction) over 6 weeks, followed by 2 weeks of bavituximab administration by itself. Surgery will follow the last bavituximab administration by 4-8 weeks (i.e., 6-10 weeks following completion of radiation therapy). The primary endpoint is to determine the safety, feasibility and tolerability of combining bavituximab with a standard platform of capecitabine and radiation therapy. Secondary endpoints include the assessment of any anti-tumor activity by objective response as determined by MR imaging and histopathological response in patients.

This trial is being conducted by the University of Texas-Southwestern Medical Center.

For further information about this trial, please visit http://www.peregrineinc.com/pipeline/currently-enrolling-trials.html

About Bavituximab
Bavituximab is a first-in-class phosphatidylserine (PS)-targeting monoclonal antibody that represents a new approach to treating cancer. PS is a highly immunosuppressive molecule usually located inside the membrane of healthy cells, but “flips” and becomes exposed on the outside of cells that line tumor blood vessels, creating a specific target for anti-cancer treatments. PS-targeting antibodies target and bind to PS and block this immunosuppressive signal, thereby enabling the immune system to recognize and fight the tumor.

About Peregrine’s Investigator-Sponsored Trials (IST) Program
Peregrine’s IST program offers oncologists the opportunity to conduct clinical trials with bavituximab. To learn more about Peregrine’s IST program, please visit http://www.peregrineinc.com/pipeline/investigator-sponsored-trials.html.

About Rectal Adenocarcinoma
According to the National Cancer Institute, approximately 50,000 new cases of rectal adenocarcinoma will be diagnosed in 2012. The 5-year survival rate for Stage IV rectal cancer is estimated to be 6%.

About Peregrine Pharmaceuticals
Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative monoclonal antibodies in clinical trials for the treatment of cancer and serious viral infections. The company is pursuing multiple clinical programs in cancer and infectious diseases with its lead product candidate bavituximab and novel brain cancer agent Cotara®. Peregrine also has in-house cGMP manufacturing capabilities through its wholly-owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and biomanufacturing services for both Peregrine and outside customers. Additional information about Peregrine can be found at www.peregrineinc.com.

Safe Harbor Statement: Statements in this press release which are not purely historical, including statements regarding Peregrine Pharmaceuticals’ intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that results from this trial may not be consistent with other clinical trial results of bavituximab to date, the risk that data from this trial may not support registration filings with the U.S. Food and Drug Administration (“FDA”), and the risk that Peregrine may not have or raise adequate financial resources to complete the planned clinical programs. Factors that could cause actual results to differ materially or otherwise adversely impact the company’s ability to obtain regulatory approval for its product candidates include, but are not limited to, uncertainties associated with completing preclinical and clinical trials for our technologies; the early stage of product development; the significant costs to develop our products as all of our products are currently in development, preclinical studies or clinical trials; obtaining additional financing to support our operations and the development of our products; obtaining regulatory approval for our technologies; anticipated timing of regulatory filings and the potential success in gaining regulatory approval and complying with governmental regulations applicable to our business. Our business could be affected by a number of other factors, including the risk factors listed from time to time in the company’s SEC reports including, but not limited to, the annual report on Form 10-K for the year ended April 30, 2011 and the quarterly report on Form 10-Q for the quarter ended January 31, 2012. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Peregrine Pharmaceuticals, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.

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

Contact:
Christopher Keenan or Jay Carlson
Peregrine Pharmaceuticals, Inc.
(800) 987-8256

Conmed (CONM) Board Under Investigation for Potential Breaches of Fiduciary Duty

Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of Conmed Healthcare Management, Inc. (“Conmed Healthcare Management” or the “Company”) (NYSE:CONM) related to the proposed acquisition of the Company by Correct Care Solutions, LLC. The transaction is valued at approximately $59 million or $3.95 per share.

This investigation concerns whether the Board of Directors of Conmed Healthcare Management breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $2.81 on February 1, 2012 to $3.55 on May 4, 2012. Further, at least one analyst has set a target price for the Company’s stock at $5.00.

If you are a shareholder of Conmed Healthcare Management, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to shareholders@glancylaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

MakeMusic (MMUS) Confirms Receipt of Proposal From LaunchEquity

MakeMusic, Inc. (NASDAQ: MMUS) confirms that it received, on July 15, 2012, a proposal from LaunchEquity Partners, LLC (“LaunchEquity”) to acquire the operating assets of MakeMusic, excluding cash, and assume the related liabilities of MakeMusic, free and clear of all liens and encumbrances, for $13.5 million. LaunchEquity’s proposal contemplates that MakeMusic would adopt a plan of liquidation, which would include a distribution of MakeMusic’s then available cash to existing shareholders. LaunchEquity and certain of its affiliates currently collectively own approximately 27.7% of MakeMusic’s outstanding common stock, according to the latest filings by LaunchEquity and its affiliates with the Securities and Exchange Commission.

Consistent with its fiduciary duties, MakeMusic’s Board of Directors has appointed a Special Committee of independent, disinterested directors to review and consider the proposal, in consultation with financial and legal advisors, and determine the course of action that it believes is in the best interests of MakeMusic and its shareholders. The Board has authorized the Special Committee to consider the full range of available strategic alternatives including, but not limited to, continuing as an independent, public company with MakeMusic’s current growth plans.

MakeMusic’s shareholders are advised that no offer or solicitation has been made to them at this time. There can be no assurance that the consideration of the proposal or the exploration of other strategic alternatives will result in any transaction. MakeMusic does not intend to disclose developments regarding its exploration of the current proposal or other strategic alternatives unless and until a transaction has been approved or final decision to discontinue all such exploration and continue as an independent, public company has been made.

About MakeMusic, Inc.
MakeMusic^®, Inc. is a world leader in music technology whose mission is to develop and market solutions that transform how music is composed, taught, learned and performed. For more than 20 years, Finale^® has been the industry standard in music notation software, enabling composers, arrangers, musicians, teachers, students and publishers to create, edit, audition, print and publish musical scores. MakeMusic is also the creator of SmartMusic^® education software that is transforming the way students practice. With SmartMusic, students and teachers have access to thousands of band, orchestra and vocal pieces allowing students to practice with background accompaniment and get immediate feedback on their performance. SmartMusic allows teachers to individualize instruction and document the progress of every student. The SmartMusic Inbox™, an Android™ and Apple^® mobile application, provides additional access for teachers to review, grade and comment on student assignments. MusicXML™ is an Internet-friendly way to publish musical scores, enabling musicians to distribute interactive sheet music online and to use sheet music files with a wide variety of musical applications. Garritan™ sound libraries provide musicians with state-of-the-art virtual instruments with the playback quality of a live performance. Additional information about this Minnesota company can be found at www.makemusic.com.

Anthera Pharma (ANTH) Announces Final Set of Clinical Data From Recent Lupus Study

Marchex (MCHX) Announces Regular Quarterly Dividend for Common Stock

Marchex, Inc. (NASDAQ:MCHX) today announced that the company’s Board of Directors has declared a regular quarterly dividend in the amount of $0.02 per share on its common stock. Marchex will pay these dividends on August 15, 2012 to the holders of record as of the close of business on August 3, 2012. As of July 13, 2012, 9,570,382 shares of Class A common stock and 28,197,745 shares of Class B common stock are outstanding.

Marchex commenced the payment of a regular quarterly cash dividend on its common stock on February 15, 2007. The company intends to pay a regular quarterly dividend on its common stock for the foreseeable future at the discretion of the Board of Directors depending on available cash, anticipated cash needs, overall financial condition, future prospects for earnings and cash flows as well as other relevant factors.

About Marchex

Marchex, Inc. is a leading mobile and online advertising company that drives millions of consumers to connect with businesses over the phone, delivers the most quality phone calls in the industry, and provides in-depth analysis of those phone calls.

Marchex supports its customers through a unique technology platform that has three primary components: (1) Call Analytics, which powers all of our advertising solutions, and allows partners to leverage data and insights that accurately measure the performance of mobile, online and offline call advertising; (2) Digital Call Marketplace, which connects hundreds of millions of consumer calls to our advertisers annually from a range of mobile and online sources on a Pay For Call basis; and (3) Local Leads, a white-labeled, full-service digital advertising solution for small business resellers that drives quality phone calls and other leads to their small business advertisers.

Marchex is based in Seattle. To learn more, please visit marchex.com/products.

Forward-Looking Statements:

This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenues, acquisitions, projected costs, prospects, plans and objectives of management are forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. There are a number of important factors that could cause Marchex’s actual results to differ materially from those indicated by such forward-looking statements which are described in the “Risk Factors” section of our most recent periodic report and registration statement filed with the SEC. All of the information provided in this release is as of July 13, 2012 and Marchex undertakes no duty to update the information provided herein.

Misonix (MSON) And Soelim Create New Distribution Alliance For South Korea

Banro (BAA) Provides Update

TORONTO, ONTARIO — (Marketwire) — 07/13/12 — Banro Corporation (“Banro” or the “Company”) (NYSE MKT:BAA)(NYSE Amex:BAA)(TSX:BAA) wishes to provide a brief comment on its operations in respect of disturbances in the NE DRC which are being reported by various media.

While the Company is aware of activities along the northeast border of the DRC, Banro’s Twangiza gold mine continues to operate unaffected by this, and the Company is carrying on with its planned activities at its other projects at Namoya, Kamituga and Lugushwa. Banro has a number of supply route options for its Twangiza operation, including those through Burundi and/or Tanzania – routes which have been established to service the logistical requirements of the Namoya development project and these continue to operate seamlessly. Development at Banro’s second gold mine, Namoya, is progressing as are adjustments to the processing plant at Twangiza (see Banro press release dated June 21, 2012) which are on schedule.

The international community is closely monitoring NE DRC activities and is being proactive in dealing with this isolated pocket of disturbance. The Company is confident that this current situation, which has attracted the attention of the media, will be resolved through such efforts, as has been the case with similar situations in the past.

Banro Corporation is a Canadian gold mining company focused on production from the Twangiza oxide mine and development of three additional major, wholly-owned gold projects, each with mining licenses, along the 210 kilometre long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the Democratic Republic of the Congo. Led by a proven management team with extensive gold and African experience, Banro’s plans include the construction of its second gold mine at Namoya, at the south end of this gold belt, as well as the development of two other projects, Lugushwa and Kamituga, in the central portion of the belt. The initial focus of the Company is on oxides, which attract a lower technical and financial risk to the Company and will also maximize cash flows in order to develop the belt with minimal further dilution to shareholders. All business activities are followed in a socially and environmentally responsible manner.

For further information, please visit our website at www.banro.com.

Cautionary Note Concerning Forward-Looking Statements

This press release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding estimates and/or assumptions in respect of gold production, cash flow and costs, estimated project economics and the Company’s development plans and objectives) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty of estimates of capital and operating costs, production estimates and estimated economic return; the possibility that actual circumstances will differ from the estimates and assumptions used in the economic studies of the Company’s projects; failure to establish estimated mineral resources or mineral reserves; fluctuations in gold prices and currency exchange rates; inflation; gold recoveries being less than those indicated by the metallurgical testwork carried out to date (there can be no assurance that gold recoveries in small scale laboratory tests will be duplicated in large tests under on-site conditions or during production); uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; political developments in the Democratic Republic of the Congo; lack of infrastructure; failure to procure or maintain, or delays in procuring or maintaining, permits and approvals; lack of availability at a reasonable cost or at all, of plants, equipment or labour; inability to attract and retain key management and personnel; changes to regulations affecting the Company’s activities; the uncertainties involved in interpreting drilling results and other geological data; and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s annual information form dated March 26, 2012 filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov.

Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Contacts:
Banro Corporation
Simon Village
CEO & President
+44 1959 575 039

Banro Corporation
Arnold T. Kondrat
Executive Vice-President
+1 (416) 366-2221

Banro Corporation
Naomi Nemeth
Investor Relations
+1 (416) 366-9189 or +1-800-714-7938, Ext 2802
info@banro.com

CallidusCloud (CALD) Selects Badgeville to Power MySalesGame

PLEASANTON, CA — (Marketwire) — 07/13/12 — Callidus Software Inc. (NASDAQ: CALD), announced today its partnership with Badgeville©, The Behavior Platform™ and leader in enterprise gamification, to deliver MySalesGame, CallidusCloud’s™ new sales gamification solution to enhance performance and productivity across the entire sales ecosystem.

CallidusCloud’s MySalesGame is a social sales performance management platform that drives selling behavior by publishing peer performance on key sales objectives in real time and providing social currency, redeemable for rewards. MySalesGame uses gamification techniques to revolutionize the way companies measure, motivate, train, coach and enable their sales force to take sales performance to the next level.

“Gamification is a way of harnessing people’s natural competitive instincts and applying them to the sales process for improved engagement and performance,” said Giles House, VP Marketing Communications and Products, CallidusCloud. “Badgeville’s Behavior Platform enables us to deliver MySalesGame in rapid time across our product and partner ecosystem, including marketing automation, sales performance management and learning management, so that companies can start to enjoy the benefits of improved sales engagement.”

Badgeville enables enterprises to incentivize high-value behavior across internal and external audiences. The company, which recently raised $25M in Series C funding, is a fast-growing SaaS startup, with over 175 customers worldwide in under two years of business. Badgeville’s unique technology platform enables businesses to easily measure and influence behavior across their entire digital ecosystem of websites and applications.

“CallidusCloud selecting Badgeville to power MySalesGame signifies The Behavior Platform’s clear dominance in gamification for serious enterprise businesses,” said Kevin Akeroyd, SVP, Badgeville. “The innovative work the CallidusCloud team is doing to deeply embed gamification across all of their sales management applications is unprecedented. It offers a glimpse into the future of gamification for business, where incentives and rewards are ingrained in our everyday professional experiences.”

MySalesGame is delivered as part of CallidusCloud’s sales and marketing suite, a SaaS suite that is designed to help businesses drive enterprise engagement, sales performance management and sales effectiveness throughout the sales cycle with award-winning, multi-tenant cloud software. CallidusCloud offers the following SaaS and mobile solutions: candidate assessment tests for hiring, video interviews, marketing automation, quotes and proposals, sales enablement, sales coaching, sales commission management, learning management and content authoring, underpinned by analytics and enterprise gamification.

Follow our Sales Pulse blog, join us on LinkedIn and Facebook or follow us on Twitter for real-time updates.

About Badgeville
Badgeville (www.badgeville.com), The Behavior Platform, is the leading provider of gamification and social engagement solutions for world-class businesses, enabling companies in virtually every industry to influence and measure user behavior. Companies and organizations from across the globe use Badgeville’s award-winning SaaS solution to increase customer loyalty, user engagement and employee performance. With 175 customers, Badgeville brings Game Mechanics, Reputation Mechanics, and Social Mechanics to world-class companies including Deloitte, EMC, Universal Music, Samsung, CA Technologies, Dell, Bell Media, NBC, The Active Network, and Recyclebank. Founded in 2010, Badgeville is based in Menlo Park, California and has offices in New York and Europe. Follow @Badgeville to learn more.

About Callidus Software
Callidus Software Inc. (NASDAQ: CALD) is the market and technology leader in sales effectiveness and cloud computing. Our customers gain a competitive advantage by maximizing sales cost efficiencies and driving improvements in sales effectiveness. CallidusCloud’s award-winning multi-tenant SaaS applications set the standard for performance management of a company’s sales force and channel partners. Over 2.5 million users rely on our solutions to power their performance. For more information, please visit www.calliduscloud.com.

©2012. Callidus Software Inc. All rights reserved. Callidus, Callidus Software, the Callidus Software logo, CallidusCloud, the CallidusCloud logo, TrueComp Manager, ActekSoft, ACom3, ForceLogix, Salesforce Assessments, iCentera, Webcom, Litmos, the Litmos logo, LeadFormix, Rapid Intake and 6FigureJobs are trademarks, service marks, or registered trademarks of Callidus Software Inc. and its affiliates in the United States and other countries. All other brand, service or product names are trademarks or registered trademarks of their respective companies or owners.

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

Press Contact:
Giles House
CallidusCloud
925-251-2200

Document Security Systems’ (DSS) Motions Hearing in Coupons.com Case Rescheduled

ROCHESTER, N.Y., July 13, 2012 /PRNewswire/ — Document Security Systems, Inc. (NYSE MKT: DSS; “DSS”), a leading developer and integrator of cloud computing data security, Radio Frequency Identification (“RFID”) systems and security printing technologies which prevent counterfeiting, product diversion and brand fraud, announced today it has been informed by the United States District Court for the Western District of New York that the previously scheduled motions hearing in connection with the company’s pending litigation matter involving Coupons.com  has been moved up from October 9th, 2012 to August 16th, 2012.

In October 2011, DSS filed a law suit against Coupons.com alleging that Coupons.com misappropriated DSS trade secrets and breached confidentiality agreements with DSS.  The suit involves DSS’s proprietary digital copy protection technology; DSS contends that this technology has been utilized by Coupons.com on billions of internet generated coupons.

About DSS (Document Security Systems, Inc.):

DSS provides counterfeit prevention, RFID tracking and comprehensive brand and digital information protection solutions to corporations, governments, and financial institutions around the world.  DSS develops and manufactures secure printed products such as labels, packaging, ID Cards, RFID Cards and tags and documents using their AuthentiGuard line of patented optical deterrent and authentication technologies. The company also provides cloud computing security services, provides disaster recovery backup, writes custom software solutions, and integrates track and trace technologies.

For more information on DSS and its subsidiaries, please visit DSSsecure.com.

DSS is comprised of four operating units:

DSS Plastics Group – Custom RFID and Plastic ID Card Solutions (Brisbane, CA) PH: 1-415-585-9600

DSS Packaging Group – Commercial and Secure Packaging Manufacturing (Victor, NY) PH:  585-924-8460

DSS Printing Group – Commercial and Security Printing Manufacturing (Rochester, NY) PH: 585-341-3100

DSS Digital Group – Cloud Computing Services and Secure Digital/Internet Documents (Rochester, NY) PH: 585-746-6958

For more information on DSS and its subsidiaries, please visit DSSsecure.com.

Follow Document Security Systems, Inc. on LinkedIn, Facebook, Twitter and WordPress

For more information:
Investor Relations:
CenturyIR.com
Phone:  212-776-1030

Safe Harbor Statement

The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. These forward-looking statements include, but are not limited to, statements regarding expectations for future financial performance, potential sales from new and existing customers, expected benefits from the Company’s cost cutting efforts and/or statements preceded by, followed by or that include the words “believes,” “could,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “projects,” “seeks,” or similar expressions, all of which involve uncertainty and risk. Many of these risks and uncertainties are discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011 filed with the Securities and Exchange Commission (the “SEC”), and in any subsequent reports filed with the SEC, all of which are available at the SEC’s website at www.sec.gov. It is possible the company’s future financial performance may differ from expectations due to a variety of factors including, but not limited to, the risks referred to above, and changes in economic and business conditions in the world, increased competitive activity, achieving sales levels to fulfill revenue expectations, consolidation among its competitors and customers, technology advancements, unexpected costs and charges, adequate funding for plans, changes in interest and foreign exchange rates, regulatory and other approvals and failure to implement all plans, for whatever reason. It is not possible to foresee or identify all such factors. Any forward-looking statements in this report are based on current conditions; expected future developments and other factors it believes are appropriate in the circumstances. Prospective investors are cautioned that such statements are not a guarantee of future performance and actual results or developments may differ materially from those projected. The company makes no commitment to update any forward-looking statement included herein, or disclose any facts, events or circumstances that may affect the accuracy of any forward-looking statement.

Misonix (MSON) Adds Industry Veteran To Management Team

FARMINGDALE, N.Y., July 12, 2012 /PRNewswire/ — Misonix, Inc. (NasdaqGM: MSON), a surgical device company that designs, manufactures and markets innovative therapeutic ultrasonic products worldwide for spine surgery, skull-based surgery, neurosurgery, wound debridement, cosmetic surgery, laparoscopic surgery and other surgical applications, has announced the addition of industry veteran, Christopher A. DeNicola, to its sales management team.  Mr. DeNicola joined the Company on July 1, 2012, as Senior Director of Sales – North America for its neurosurgery, spine surgery and orthopedic surgery products.  Products in this category are the SonaStar® Ultrasonic Surgical Aspiration System and the BoneScalpel™ Ultrasonic Bone Cutting System.

Mr. DeNicola, who is degreed in Management, has almost 20 years of successful sales management experience in Orthopedic Surgery, Neurosurgery and Podiatric Surgery, with a heavy concentration in Spine Surgery.  He has worked with direct, distributor and hybrid sales organizations.  Previous employers included EBI (a Biomet Company), Small Bone Innovations and Scient’x USA.  The Company expects that Mr. DeNicola’s presence will add measurably to the rapid expansion of its Neuro/Orthopedic sales organization.

The SonaStar is used by neurosurgeons and general surgeons for quick and efficient removal of both hard and soft tumors while sparing most vessels.  OsteoSculpt™ bone sculpting technology can be employed with the SonaStar to safely remove osseous structures, thus providing access to the surgical site.

The BoneScalpel is a tissue specific osteotomy device capable of safely making precise cuts through bone and hard tissue while largely preserving delicate soft tissue structures.  It offers the convenience and speed of a power instrument without the danger associated with rotary sharps.  Use of this product is being rapidly accepted by spine and skull-based surgeons on a worldwide basis.

“We are very pleased to add a sales executive of Chris DeNicola’s experience and stature to our growing domestic sales organization,” said Michael A. McManus, Jr., President and Chief Executive Officer of Misonix.  “His knowledge of distributors, combined with his established relationships with physician thought leaders in our target markets, should prove to be quite valuable in rapidly expanding our domestic market presence.”

About Misonix

Misonix, Inc. designs, develops, manufactures and markets therapeutic ultrasonic medical devices. Misonix’s therapeutic ultrasonic platform is the basis for several innovative medical technologies. Addressing a combined market estimated to be in excess of $3 billion annually; Misonix’s proprietary ultrasonic medical devices are used for wound debridement, cosmetic surgery, neurosurgery, laparoscopic surgery, and other surgical and medical applications. Additional information is available on the Company’s Web site at www.misonix.com.

Safe Harbor Statement

With the exception of historical information contained in this press release, content herein may contain “forward looking statements” that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include general economic conditions, delays and risks associated with the performance of contracts, risks associated with international sales and currency fluctuations, uncertainties as a result of research and development, acceptable results from clinical studies, including publication of results and patient/procedure data with varying levels of statistical relevancy, risks involved in introducing and marketing new products, potential acquisitions, consumer and industry acceptance, litigation and/or court proceedings, including the timing and monetary requirements of such activities, the timing of finding strategic partners and implementing such relationships, regulatory risks including approval of pending and/or contemplated 510(k) filings, the ability to achieve and maintain profitability in the Company’s business lines, and other factors discussed in the Company’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company disclaims any obligation to update its forward-looking relationships.

SOURCE Misonix, Inc.

EnteroMedics (ETRM) Reports Exercise of 1,653,635 Common Stock Warrants

ST. PAUL, MN — (Marketwire) — 07/12/12 — EnteroMedics Inc. (NASDAQ: ETRM), the developer of medical devices using neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders today announced that it has received $3.6 million from the exercise of 1,653,635 warrants through 2012 to date. The warrants that were exercised were issued by the Company in its December 2010 and September 2011 public offerings and had exercise prices of $2.19 per share and $1.90 per share, respectively. The Company intends to use the proceeds from the warrant exercises for general corporate purposes. As of July 11, 2012, 17,067,146 warrants remain outstanding and exercisable from the aforementioned offerings with exercise prices ranging from $2.19 to $1.90 per share.

“We appreciate this investment from our existing stockholders, which continues to support our ability to achieve our milestones and our ongoing strategy,” said President and Chief Executive Officer, Mark B. Knudson, PhD.

About EnteroMedics Inc.

EnteroMedics is a medical device company focused on the development and commercialization of its neuroscience based technology to treat obesity and metabolic diseases. EnteroMedics’ proprietary technology, VBLOC® vagal blocking therapy, delivered by a pacemaker-like device called the Maestro® Rechargeable System, is designed to intermittently block the vagus nerves using high-frequency, low-energy, electrical impulses. VBLOC allows people with obesity to take a positive path towards weight loss, addressing the lifelong challenge of obesity and its comorbidities without sacrificing wellbeing or comfort. EnteroMedics has received CE Mark and is listed on the Australian Register of Therapeutic Goods.

Forward-Looking Safe Harbor Statement:

This press release contains forward-looking statements about EnteroMedics Inc. Our actual results could differ materially from those discussed due to known and unknown risks, uncertainties and other factors including our limited history of operations; our losses since inception and for the foreseeable future; our lack of commercial regulatory approval for our Maestro® System for the treatment of obesity in the United States or in any foreign market other than Australia and the European Community; our preliminary findings from our EMPOWER™ pivotal trial; our ability to comply with the Nasdaq continued listing requirements; our ability to commercialize our Maestro System; our dependence on third parties to initiate and perform our clinical trials; the need to obtain regulatory approval for any modifications to our Maestro System; physician adoption of our Maestro System and VBLOC® vagal blocking therapy; our ability to obtain third party coding, coverage or payment levels; ongoing regulatory compliance; our dependence on third party manufacturers and suppliers; the successful development of our sales and marketing capabilities; our ability to raise additional capital when needed; international commercialization and operation; our ability to attract and retain management and other personnel and to manage our growth effectively; potential product liability claims; potential healthcare fraud and abuse claims; healthcare legislative reform; and our ability to obtain and maintain intellectual property protection for our technology and products. These and additional risks and uncertainties are described more fully in the Company’s filings with the Securities and Exchange Commission, particularly those factors identified as “risk factors” in the annual report on Form 10-K filed March 15, 2012. We are providing this information as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

Caution – Investigational device. Limited by Federal (United States) law to investigational use. EnteroMedics has received CE Mark and is listed on the Australian Register of Therapeutic Goods.

The implantation procedure and usage of the Maestro® System carry some risks, such as the risks generally associated with laparoscopic procedures and those related to treatment as described in the ReCharge clinical trial informed consent.

Contact:
EnteroMedics Inc.
Greg S. Lea
(651) 789-2860

Autobytel (ABTL) Announces Effectiveness of 1-for-5 Reverse Stock Split

Autobytel Inc. (Nasdaq: ABTL), a leading provider of online consumer purchase requests and marketing resources for the automotive industry, today announced that the previously announced 1-for-5 reverse split of the Company’s common stock, $0.001 par value per share, took effect after the close of trading on the NASDAQ Capital Market on July 11, 2012. The Company’s common stock will begin trading on a reverse stock split-adjusted basis on the NASDAQ Capital Market as of the opening of trading on July 12, 2012. The common stock will continue to be reported on the NASDAQ Capital Market under the symbol “ABTL,” with 05275N205 as its new CUSIP number.

Upon the effectiveness of the reverse stock split, each five shares of the Company’s issued and outstanding common stock automatically combined and converted into one issued and outstanding share of common stock, par value $0.001 per share. The reverse stock split affected all issued and outstanding shares of the Company’s common stock, as well as common stock underlying stock options, warrants and convertible notes outstanding immediately prior to the effectiveness of the reverse stock split. The reverse stock split reduced the number of outstanding shares of the Company’s common stock outstanding prior to the reverse stock split from approximately 44.256 million to approximately 8.851 million. The number of authorized shares of the Company’s common stock was not affected by the reverse stock split.

No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise hold a fractional share of the Company’s common stock will receive a cash payment in lieu of such fractional share based on the average per share closing price of the common stock on the NASDAQ Capital Market for the five trading days prior to the effective date of the reverse stock split, which is $0.78.

Stockholders with shares held in book-entry form or through a bank, broker or other nominee are not required to take any action and will see the impact of the reverse stock split reflected in their accounts after July 12, 2012. Beneficial holders may contact their bank, broker or nominee for more information. Stockholders with shares held in certificate form are required to exchange their stock certificates for book-entry shares representing the shares of common stock resulting from the reverse stock split. Shortly after July 12, 2012, registered holders who hold stock in certificate form will receive a Letter of Transmittal and instructions for exchanging their certificates from the Company’s exchange agent, Computershare Trust Company, N.A.

Additional information about the reverse stock split can be found in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 27, 2012, a copy of which is available at www.sec.gov or at www.autobytel.com under the SEC Filings tab located on the Investor Relations page.

About Autobytel Inc.
Autobytel Inc., an online leader offering consumer purchase requests and marketing resources to car dealers and manufacturers and providing consumers with the information they need to purchase new and used cars, pioneered the automotive Internet when it launched its flagship website, autobytel.com, in 1995. Autobytel continues to offer innovative products and services to help consumers buy, and auto dealers and manufacturers sell, more used and new cars. Autobytel has helped tens of millions of automotive consumers research vehicles; connected thousands of dealers nationwide with motivated car buyers; and helped every major automaker market its brand online. Through its flagship website, its network of automotive sites and respected online affiliates, Autobytel continues its dedication to innovating the industry’s highest quality Internet programs to provide consumers with a comprehensive and positive automotive research and purchasing experience, and auto dealers, dealer groups and auto manufacturers with some of the industry’s most productive and cost-effective customer referral and marketing programs. Investors and other interested parties can receive Autobytel news releases and invitations to special events by accessing our online signup form at http://investor.autobytel.com/alerts.cfm

Forward-Looking Statements Disclaimer
The statements contained in this press release that are not historical facts are forward-looking statements under the federal securities laws. These forward-looking statements by their nature address matters that are uncertain. Investors are strongly encouraged to review the company’s Annual Report on Form 10-K for the year ended December 31, 2011, and other filings with the Securities and Exchange Commission for a discussion of risks and uncertainties that could affect the business, operating results or financial condition of Autobytel and the market price of the company’s stock. In addition, current year financial information could be subject to change as a result of subsequent events or the finalization of the company’s financial statement close which culminates with the filing of the company’s Annual Report on Form 10-K for the current year.

AVI BioPharma (AVII) Announces Name/Ticker Change to Sarepta Therapeutics (SRPT)

BOTHELL, WA — (Marketwire) — 07/12/12 — AVI BioPharma, Inc. (NASDAQ: AVII) today announced that it has changed its name to Sarepta Therapeutics, Inc. (“the Company”) and has effected a one-for-six reverse stock split. The name change and reverse stock split were approved by the Company’s shareholders at its Annual Meeting of Shareholders held on July 10, 2012, and the specific one-for-six ratio was agreed upon and approved by the Company’s Board of Directors. Sarepta is focused on the development of first-in-class RNA-based therapeutics to improve and save the lives of people affected by serious and life-threatening rare and infectious diseases. The Company’s development programs include its lead therapeutic candidate, eteplirsen, for the treatment of Duchenne muscular dystrophy (DMD), as well as potential treatments for the lethal hemorrhagic fever viruses Ebola and Marburg.

The Company’s common stock will trade on a split-adjusted basis on The NASDAQ Global Market when the market opens today, July 12, 2012, and will trade under the new ticker symbol (NASDAQ: SRPT).

“The introduction of our new brand, under the name of Sarepta Therapeutics, is part of a broader revitalization that represents an important and exciting new phase for our company,” said Chris Garabedian, president and CEO of Sarepta Therapeutics. “Our rapidly advancing clinical programs have positioned us on the threshold of realizing the potential of our innovative and unique RNA-based technology. We are committed to building a leading, independent biotech company, dedicated to translating our RNA-based science into transformational therapies for patients impacted by serious and life-threatening diseases.”

About the Reverse Stock Split

Upon enactment of the reverse stock split, every six shares of the Company’s issued and outstanding common stock will be automatically converted into one issued and outstanding share of common stock, without any change in par value per share. The reverse stock split will affect all issued and outstanding shares of the Company’s common stock, as well as common stock underlying stock options, warrants and other common stock based equity grants outstanding immediately prior to the effectiveness of the reverse stock split. No fractional shares will be issued in connection with the reverse stock split, but Sarepta will purchase all fractional shares that otherwise would have been issued as a result of the transaction. Shareholders who would otherwise hold a fractional share of Sarepta common stock will receive a cash payment in lieu of the fractional share based on the closing price of the Company’s common stock as quoted on The NASDAQ Global Market for the five trading days immediately preceding the effective date of the reverse stock split. Additional information about the reverse stock split and the impact it will have on the Company’s stock is set forth in the Company’s proxy statement filed with the U.S. Securities and Exchange Commission on June 13, 2012. The reverse stock split will reduce the number of shares outstanding from approximately 135.7 million to approximately 22.6 million. Concurrently, Sarepta will reduce its authorized number of common shares to 50.0 million. As a result of the reverse stock split, the Company expects to regain compliance with the $1.00 per share minimum bid price requirement for continued listing on The NASDAQ Global Market.

Computershare is acting as Sarepta’s transfer agent for the reverse stock split. Shareholders holding certificated shares or shares through a brokerage account will have their shares automatically adjusted to reflect the reverse stock split as of the effective date. The issuance of new stock certificates will not be required; however, shareholders may obtain a new certificate from Computershare if desired.

“The completion of a reverse stock split is an important step to strengthen our financial base and regain compliance with NASDAQ so that we are in a stronger position to support and advance our technology platform and our lead clinical candidate, eteplirsen, for the treatment of Duchenne muscular dystrophy,” said Mr. Garabedian.

About Sarepta Therapeutics

Sarepta Therapeutics — formerly AVI BioPharma — is focused on developing first-in-class RNA-based therapeutics to improve and save the lives of people affected by serious and life-threatening rare and infectious diseases. The Company’s diverse pipeline includes its lead program eteplirsen, for Duchenne muscular dystrophy, as well as potential treatments for some of the world’s most lethal infectious diseases. Sarepta aims to build a leading, independent biotech company dedicated to translating its RNA-based science into transformational therapeutics for patients who face significant unmet medical needs. For more information, please visit us at www.sareptatherapeutics.com.

Forward Looking Statements

This press release contains forward-looking statements that involve significant risks and uncertainties. Any statement describing the Company’s expectations or beliefs, including any such statement about the effects of the reverse stock split, is a forward-looking statement, as defined in the Private Securities Litigation Reform Act of 1995, and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of developing and commercializing therapeutics, including the adequacy of the Company’s capital to support the Company’s operations, the Company’s ability to raise additional funds and the potential terms of such potential financing, the Company’s ability to maintain the listing of its common stock on The NASDAQ Global Market and the timing and prospects for the commercialization of eteplirsen and the Company’s other therapeutics currently in development. The Company’s forward-looking statements also involve assumptions that, if they prove incorrect, would cause its results to differ materially from those expressed or implied by such forward-looking statements. These and other risks concerning the Company’s business are described in additional detail in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, as amended, and the Company’s other Periodic and Current Reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

AVI Media and Investor Contact:
Erin Cox
425.354.5140

Hemispherx Biopharma (HEB) and the FDA Reach Agreement

Targeted Filing Date in 3rd Quarter 2012

PHILADELPHIA, July 11, 2012 (GLOBE NEWSWIRE) — Hemispherx Biopharma, Inc. (NYSE:HEB) (the “Company” or “Hemispherx”) recently met with representatives of the U.S. Food and Drug Administration (the “FDA”). At that meeting, the FDA agreed to accept, for review, new analyses of data from Hemispherx’s AMP-516 Phase III Clinical Trial (“AMP-516 Trial”) in support of its New Drug Application (“NDA”) for Ampligen^® (Poly I : Poly C₁₂U). If found sufficient to support approval of the drug, these new analyses will be in lieu of an additional confirmatory Phase III study called for in the Agency’s November 25, 2009, Complete Response Letter (“CRL”). The FDA has advised that whether the new analyses provide adequate evidence of Ampligen^®‘s efficacy in treating Chronic Fatigue Syndrome (“CFS”) will ultimately be a review issue.

In its CRL, the FDA recommended at least one additional clinical study of Ampligen^® in CFS patients, including at least 300 patients on dose regimens intended for marketing. In November 2010, Hemispherx announced the publication of new analyses of data from the AMP-516 Trial showing that patients on Ampligen^® reduced their use of concomitant medications compared to patients receiving placebo. In particular, Ampligen^® patients reduced their use of medications which may prolong the QT interval. Prolongation of the QT interval is a known risk factor for sudden cardiac death and arrhythmias. A greater portion of the placebo patients were found to have a significant prolongation of the QT interval compared to patients who had received Ampligen®, thereby creating a cardiac risk situation in the CFS patients. Cardiac death is one of three major causes of premature death in CFS, which affects predominantly women in their 40s. The article can be found at http://jrnlappliedresearch.com/articles/Vol10Iss3/Vol10%20Iss3Stouch.pdf. At present, no drug has received FDA approval to treat this chronic, seriously debilitating disease.

In March, 2012, a new peer reviewed analysis of data from the AMP-516 Trial was published showing that the proportions of Ampligen^® patients with exercise improvements of at least 25% and at least 50% were, respectively, 1.7 and 1.9-fold greater than those patients on placebo. A continuous responder analysis, which examined response improvements from 25% to 50% in 5% increments, showed a greater improvement in exercise tolerance for patients receiving Ampligen^® versus placebo at every 5% increment above 25%. The article can be found at http://dx.plos.org/10.1371/journal.pone.0031334.

On June 8, 2012, the Company and its consultants met with the FDA to discuss certain aspects of the CRL relating to its NDA for Ampligen^® for the treatment of severely debilitated patients with CFS.  At this time, the Company believes the key points from the meeting to be undertaken by the Company in conjunction with its complete response include the following:

• The FDA agreed to accept, for review, in Hemispherx’s complete response new analyses of data from the AMP-516 Trial. Whether these data provide adequate evidence of efficacy will ultimately be a review issue, and there can be no assurance the FDA will conclude the data are adequate to support approval of the Ampligen^® NDA.
• As the product is a new molecular entity, the FDA anticipates that the data submitted in the NDA would be presented at a public FDA Advisory Committee meeting.
• The FDA requires that the Company’s complete response include all information necessary for review at the time of filing and that it address all deficiencies identified in the CRL.
• Hemispherx’s New Brunswick manufacturing facility would be expected to be ready for GMP pre-approval inspection at the time of the complete response.
• Hemispherx will include in the complete response a request for postponement of rodent carcinogenicity study requirements and a justification for this request.

Hemispherx plans to submit the complete response in the 3^rd quarter 2012. The FDA has advised that, once submitted, the complete response will be on a six month review cycle at the FDA. The FDA’s agreement to review the complete response does not commit the Agency to approve the Ampligen^® NDA. Further, although the proposed New Brunswick manufacturing facility already has received a Biologics License from the FDA for its commercial product, Alferon N Injection^®, no guarantee can be made at this time that the facility will necessarily pass a pre-approval inspection for Ampligen^® manufacture, which is conducted in a separately dedicated area within the overall New Brunswick manufacturing complex.

As a result of the meeting, Hemispherx has accelerated its preparedness for FDA pre-approval inspections by hiring additional staff, consultants, and various independent contractors.

DISCLOSURE NOTICE: The information in this press release includes certain “forward-looking” statements (explained below), including statements about the remaining steps to potentially gain FDA approval of the Ampligen^® NDA for the treatment of Chronic Fatigue Syndrome. The final results of these and other ongoing activities could vary materially from Hemispherx’s expectations and could adversely affect the chances for approval of the Ampligen^® NDA. These activities and the ultimate outcomes are subject to a variety of risks and uncertainties, including but not limited to risks that (i) the complete response Hemispherx ultimately submits in support of the Ampligen^® NDA may not be accepted by the FDA or such acceptance may be delayed; (ii) the FDA may ask for additional data, information or studies to be completed or provided prior to approval; (iii) the FDA may require additional work related to the commercial manufacturing process to be completed prior to approval or may, in the course of the inspection of manufacturing facilities, identify issues to be resolved; and (iv) the FDA may determine that the complete response ultimately submitted by Hemispherx is not “complete,” potentially requiring the Company to conduct additional activities before it can re-file, if at all, the complete response. Any failure to satisfy the FDA’s requirements could significantly delay, or preclude outright, approval of the Ampligen^® NDA.

About Hemispherx Biopharma

Hemispherx Biopharma, Inc. is an advanced specialty pharmaceutical company engaged in the manufacture and clinical development of new drug entities for treatment of seriously debilitating disorders.  Hemispherx’s flagship products include Alferon N Injection^® (FDA approved for a category of sexually transmitted diseases) and the experimental therapeutics Ampligen^® and Alferon^® LDO.  Because both Ampligen^® and Alferon LDO^® are experimental in nature, they are not designated safe and effective by a regulatory authority for general use and are legally available only through clinical trials with the referenced disorders. Ampligen is an experimental RNA nucleic acid being developed for globally important debilitating diseases and disorders of the immune system including Chronic Fatigue Syndrome.  Hemispherx’s platform technology includes components for potential treatment of various severely debilitating and life threatening diseases.  Hemispherx has patents comprising its core intellectual property estate and a fully commercialized product (Alferon N Injection).  The Company wholly owns and exclusively operates a GMP certified manufacturing facility in the United States for commercial products.  For more information please visit www.hemispherx.net.

Forward-Looking Statements

To the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “believes,” “plans,” “anticipates,” and similar expressions are intended to identify forward-looking statements. These statements are based on the company’s current beliefs and expectations and represent the Company’s judgment as of the date of this release. The inclusion of forward-looking statements should not be regarded as a representation by Hemispherx that any of its plans will be achieved. These forward-looking statements are neither promises nor guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond Hemispherx’s control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Examples of such risks and uncertainties include those set forth in the Disclosure Notice, above, as well as the risks described in Hemispherx’s filings with the Securities and Exchange Commission, including the most recent reports on Forms 10-K, 10-Q and 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Hemispherx undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise revise or update this release to reflect events or circumstances after the date hereof.

CONTACT: Company/Investor Contact:
         Dianne Will
         Hemispherx Biopharma, Inc.
         518-398-6222
         ir@hemispherx.net

GeoGlobal (GGR) Announces Sale of Shares in ILDE

CALGARY, ALBERTA — (Marketwire) — 07/11/12 — GeoGlobal Resources Inc. (“GeoGlobal” or the “Company”) (NYSE MKT:GGR)(NYSE Amex:GGR) today announced that it has sold 8,500,000 shares acquired in the Securities Purchase and Exchange Agreement (the “Agreement”) by and between the Company and The Israel Land Development Company – Energy Ltd. (“ILDE”), dated as of November 21, 2011. GeoGlobal sold the shares of ILDE through two Israeli investment houses, on an off market basis, at a 12% discount to market due to the shares being restricted until the end of August 2012. Net proceeds to GeoGlobal from the sale of the shares are approximately US$1.4 million.

“We sold a modest portion of our holding in ILDE purely for working capital purposes and retain a significant holding in ILDE. We continue to believe there is real value in our investment in that organization,” said Paul B. Miller, President and CEO of GeoGlobal. “The proceeds from the sale will be directly applied to meeting our capital commitments in the Myra and Sara Blocks. The drilling of Myra-1 is progressing as planned and we anticipate reaching TD in August as previously reported. This is an exciting time for GGR and its partners in the region and we continue to be excited by the prospects.”

About GeoGlobal

GeoGlobal Resources Inc., headquartered in Calgary, Alberta, Canada, is a U.S. publicly traded oil and gas company, which, through its subsidiaries, is engaged in the pursuit of petroleum and natural gas in high potential exploration targets through exploration and development in India, Israel and Colombia.

Cautionary Statement For Purposes Of The “Safe Harbor” Provisions Of The Private Securities Litigation Reform Act Of 1995

This press release contains statements which constitute forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995, including statements regarding the plans, intentions, beliefs and current expectations of GeoGlobal Resources Inc., its directors, or its officers with respect to the oil and gas exploration, development and drilling activities being conducted and intended to be conducted and the outcome of those activities on the exploration blocks in which the Company has an interest. The company updates forward-looking information related to operations, production and capital spending on a quarterly basis and updates reserves, if any, on an annual basis.

We caution you that various risk factors accompany our forward-looking statements and are described, among other places, under the caption “Risk Factors” in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. These risk factors could cause our operating results, financial condition and ability to fulfill our plans to differ materially from those expressed in any forward-looking statements made in this press release and could adversely affect our financial condition and our ability to pursue our business strategy and plans. If our plans fail to materialize, your investment will be in jeopardy.

An investment in shares of our common stock involves a high degree of risk. Our periodic reports we file with the Securities and Exchange Commission and Canadian provincial authorities may be viewed at http://www.sec.gov and www.sedar.com.

Contacts:
GeoGlobal Resources Inc.
Paul B. Miller
President and CEO
+1 403 777-9250
info@geoglobal.com
www.geoglobal.com

KM Investor Relations Ltd.
Moran Meir-Beres
+011 972-3-5167620
moran@km-ir.co.il
www.km-ir.co.il

The Equicom Group
Dave Feick
Managing Director
Western Canada
+1 403 218-2839

Complete Genomics (GNOM) Announces Standard-Setting Clinical-Grade Genome Technology

Long Fragment Read Technology Described in Nature Paper Provides Much Higher Accuracy Sequencing

MOUNTAIN VIEW, Calif., July 11, 2012 (GLOBE NEWSWIRE) — Complete Genomics, Inc. (Nasdaq:GNOM) today announced that its Long Fragment Read (LFR) technology for whole genome sequencing dramatically improves accuracy, enables fully-phased genomes, and significantly reduces the amount of DNA required for testing. Complete’s LFR technology should accelerate the use of whole genome sequencing by physicians to diagnose and treat their patients.

“We expect the introduction of this technological breakthrough to accelerate the move of whole genome sequencing into patient care, which in turn will begin to change the face of medicine,” said Dr. Clifford Reid, Complete Genomics’ chairman, president and CEO.

“The Nature paper by Peters et al. describes how our LFR technology uses ‘barcoded’ DNA to generate whole genome sequencing with approximately one error in 10 million base pairs, or just 600 errors in an entire human genome,” said Dr. Rade Drmanac, the company’s chief scientific officer and inventor of the LFR technology. “This represents a 10-fold increase in accuracy for Complete and is unmatched by any high-sensitivity method currently available.”

Until now, determining whether two disease-associated variants were on the same or different parental chromosomes was either impossible or required expensive, low-throughput technologies — an approach often infeasible in a clinical environment. Complete’s new LFR technology not only enables an accurate identification of mutations, but includes phasing that shows which mutations are in fact together on the same parental chromosome. Through phasing, a physician can determine whether a patient with two pathogenic variants in a gene including its regulatory regions is affected or merely a carrier of the trait. In addition, Complete’s LFR technology provides, for the first time, accurate whole-genome sequencing from as few as 10 to 20 cells (only 100 picograms of DNA), making it an ideal choice for small sample clinical sequencing applications including circulating tumor cells, fine needle aspirations, and pre-implantation genetic diagnostics.

“In the not-too-distant future, failure to use phasing when providing genomic diagnoses in patient care will be seen as unacceptably inaccurate,” said Dr. George Church, professor of genetics at Harvard Medical School and director of PersonalGenomes.org. “I also suspect that LFR will reveal surprising things we didn’t know were missing because we didn’t have a tool to see them.”

The U.S. Patent and Trademark Office has already issued Complete Genomics two separate patents on LFR technology, and additional patent applications, including miniaturization using nanodrops, are pending. Complete Genomics plans to incorporate the new technology into its sequencing offerings in early 2013.

About Complete Genomics

Through its pioneering sequencing-as-a-service model, Complete Genomics provides the most accurate whole human genomes generally available today. The ease of use and power of Complete’s advanced informatics and analysis systems provide genomic information needed to better understand the prevention, diagnosis, and treatment of diseases. Additional information can be found at http://www.completegenomics.com.

The Complete Genomics logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8216

Forward-Looking Statement

Certain statements in this press release, including the incorporation of LFR technology into genomic sequencing and the potential future impact of LFR technology on medical care, are forward-looking statements that are subject to risks and uncertainties. These forward-looking statements are based on management’s current expectations, and actual results may differ materially from our expectations. The following factors, without limitation, could cause actual results to differ materially from those in our forward-looking statements: the timing of the company’s incorporation of LFR technology into its sequencing offerings and the pace of acceptance of human genome sequencing into patient care. More information on risk factors that could affect our results can be found in our Annual Report on Form 10-K filed with the SEC on March 9, 2012, and our Quarterly Report on Form 10-Q filed with the SEC on May 9, 2012, including those risks listed in those filings under the heading “Risk Factors.” We disclaim any obligation to update information contained in our forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: For more information, contact:

         Waggener Edstrom Worldwide Healthcare
         Lisa Osborne
         Account Director
         (202) 261-7806
         lisao@waggeneredstrom.com

Ocean Power Tech (OPTT) and Lockheed Martin to Develop Wave-Energy Project