USA Technologies (USAT) Announces Preliminary Third Quarter Fiscal 2012 Results

USA Technologies, Inc. (NASDAQ: USAT), (“USAT”), a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, today announced the following preliminary information for the third quarter of fiscal year 2012 ended March 31, 2012.

• Total Revenues for the third quarter are expected to be approximately $7.5 million, reflecting an increase of approximately 36% from the same period in the prior year.
• Recurring revenues for the third quarter are expected to be approximately $5.9 million, an increase of approximately 39% from the third quarter of fiscal 2011. Recurring revenues, which represented approximately 79% of total revenues for the third quarter, are comprised of ePort Connect® license fees and transaction processing fees per connection as well as rental revenues from USA Technologies’ JumpStart program.
• Total connections added in the quarter, which contribute to future recurring revenues, were approximately 12,000, an increase of 304% from the same period a year ago. The growth in connections was fueled by USAT’s JumpStart program, expansion into vertical markets such as kiosk and continued demand for cashless payment solutions to meet consumer’s desire for non-cash options. Based on preliminary additional connections of 12,000 for the quarter, USAT’s total connected base now stands at approximately 148,000, a 32% increase from the same period one year ago.
• Adjusted EBITDA is expected to be approximately $300,000 for the third quarter of fiscal 2012, compared to an Adjusted EBITDA loss of $(940,170) for the third quarter of fiscal 2011.

“When we communicated our priorities to shareholders in late 2011, we indicated that our top priority was to drive the business toward profitability,” said Stephen P. Herbert, Chairman and CEO of USA Technologies. “We also said that the first milestone in reaching that goal was achieving positive and sustainable Adjusted EBITDA. Given these goals, we are extremely pleased with our progress. We achieved positive Adjusted EBITDA in each and every month this quarter, evidence that the steps we have taken to streamline expenses are taking hold and our business model is beginning to yield the recurring revenue base necessary to fund our future growth. These positive indicators combined with our growing connected service base and the various growth initiatives underway, point to the strong commitment of USAT’s Board of Directors and management team in driving shareholder value.

“Consumers are clearly moving toward cashless payment including credit, debit and mobile payment options. We want our customers to participate in this exciting industry trend and our growth platforms reflect that commitment. We are driving adoption in the largely untapped traditional vending market, leveraging opportunities in vertical markets like kiosk, and we are working to expand our services offerings, some of which will be introduced to customers at trade shows and marketing events later in the month, said Herbert.”

The third quarter fiscal 2012 financial results included in this release are preliminary and subject to finalization of USA Technologies’ quarterly financial and accounting procedures. USA Technologies will hold a conference call and Webcast to review its third quarter fiscal 2012 financial results in early May. Details will be released approximately two weeks prior to the call.

Non-GAAP Financial Measures: Adjusted EBITDA

This press release includes the following financial measure defined as a non-GAAP financial measure by the Securities and Exchange Commission: Adjusted EBITDA. See “Reconciliation of GAAP Net Earnings (Loss) to Adjusted Earnings (Loss) Before Interest, Taxes, Depreciation and Amortization Expense (Adjusted EBITDA)” table in this press release for further information regarding this non-GAAP financial measure.

As used herein, Adjusted EBITDA represents net income (loss) before interest income, interest expense, income taxes, depreciation, amortization, and change in fair value of warrant liabilities and stock-based compensation expense. We have excluded the non-operating item, change in fair value of warrant liabilities, because it represents a non-cash charge that is not related to USAT’s operations. We have excluded the non-cash expense, stock-based compensation, as it does not reflect the cash-based operations of USAT. Adjusted EBITDA is a non-GAAP financial measure which is not required by or defined under GAAP (Generally Accepted Accounting Principles). The presentation of this financial measure is not intended to be considered in isolation or as a substitute for the financial measures prepared and presented in accordance with GAAP, including the net income or net loss of USAT or net cash used in operating activities. Management recognizes that non-GAAP financial measures have limitations in that they do not reflect all of the items associated with USAT’s net income or net loss as determined in accordance with GAAP, and are not a substitute for or a measure of USAT’s profitability or net earnings. Adjusted EBITDA is presented because we believe it is useful to investors as a measure of comparative operating performance and liquidity, and because it is less susceptible to variances in actual performance resulting from depreciation and amortization and non-cash charges for changes in fair value of warrant liabilities and stock-based compensation expense.

Reconciliation of GAAP Net Earnings (Loss) to Adjusted Earnings (Loss) Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA)

A reconciliation of the preliminary GAAP net earnings (loss) to preliminary Adjusted EBITDA is provided below. USAT will provide a final reconciliation of GAAP net earnings (loss) to Adjusted EBITDA for the third quarter ended March 31, 2012 when USAT issues its full results.

About USA Technologies:

USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems and services in the vending, commercial laundry, hospitality and digital imaging industries. The company has been granted 79 patents and has agreements with Verizon, Visa, Compass, Crane and others. Visit our website at www.usatech.com

Forward-looking Statements:

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in this release, including without limitation the financial position, achieving profitability, business strategy and the plans and objectives of USAT’s management for future operations, are forward-looking statements. When used in this release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, and similar expressions, as they relate to USAT or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of USAT’s management, as well as assumptions made by and information currently available to the USAT’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, the ability of USAT to generate sufficient sales to generate operating profits, or conduct operations at a profit; the ability of USAT to retain key customers from whom a significant portion of its revenues is derived; whether USAT’s customers continue to operate or commence operating ePorts received under the Jumpstart program or otherwise at levels currently anticipated by USAT; the ability of USAT to compete with its competitors to obtain market share; whether USAT’s customers continue to utilize USAT’s transaction processing and related services, as our customer agreements are generally cancelable by the customer on thirty to sixty days’ notice; whether the significant increase in the interchange fees to be charged by Visa and MasterCard for small ticket debit card transactions would adversely affect our business, including our revenues, gross profits, and anticipated future connections to our network; whether or not accepting any MasterCard debit cards effective mid-November 2011 would adversely affect our business, including our revenues, gross profits, and anticipated future connections to our network; and, whether USAT’s existing or anticipated customers purchase ePort devices in the future at levels currently anticipated by USAT. Readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this release speaks only as of the date of this release. Unless required by law, USAT does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.

Fanatics to Acquire Dreams (DRJ) for $3.45 per Share

Dreams, Inc. (NYSE Amex: DRJ), a technology-driven, multi-channel retailer focused on the licensed sports products industry, has signed a definitive merger agreement with Fanatics, Inc., a leading online seller of licensed sports products.

The agreement calls for Fanatics to acquire all the outstanding shares of the company for $3.45 per share in cash for an aggregate transaction value of approximately $183 million, taking into account $25 million of outstanding debt. The offer represents a premium of 32.0% over Dreams’ closing share price of $2.61 on April 13, 2012, the last trading day prior to this announcement.

The Board of Directors of Dreams has unanimously approved the transaction, which is subject to customary closing conditions, including the approval of Dreams’ shareholders and regulatory approvals. The transaction is expected to close in the third quarter of 2012.

Dreams President and CEO Ross Tannenbaum, Chairman Sam Battistone and other shareholders who collectively own approximately 35% of the outstanding shares of Dreams have each entered into voting and support agreements by which they have committed to vote in favor of the proposed merger transaction.

“Fanatics shares our focus on the customer, innovation, and growth,” said Ross Tannenbaum. “This combination will enhance Dreams’ ability to achieve its goals, while realizing a significant and immediate all-cash premium for our shareholders. I am confident this merger is the right decision for Dreams and our shareholders.”

Dr. Phillip Frost, Dreams’ third largest shareholder, Chairman of Teva Pharmaceuticals (NYSE:TEVA) and Chairman and CEO of Opko (NYSE:OPKO), commented: “Ross and his executive team have built a terrific company and ultimately were able to deliver meaningful value to all of its shareholders.”

“Today is an exciting day for all sports fans,” said Fanatics’ CEO Alan Trager. “We are bringing together two of the most passionate management teams in licensed sports products. The addition of Dreams will enable Fanatics to accelerate our investments in product assortment, mobile and e-commerce technology, and a regional fulfillment infrastructure to better serve our customers and our partners. Together, we will be much better positioned to deliver a superior customer experience.”

In conjunction with the acquisition, Fanatics entered into definitive equity financing with Insight Venture Partners.

Jefferies & Company, Inc. acted as the exclusive financial advisor and Roetzel & Andress, LPA served as legal advisor to Dreams. Morgan, Lewis & Bockius LLP served as legal adviser to Fanatics, Inc.

About Fanatics, Inc.

Fanatics provides e-commerce, merchandising, marketing and fulfillment services for professional sports leagues and teams, collegiate athletic programs and conferences, and other major sports properties. Offering broad assortments online consisting of hundreds of thousands of officially licensed items, Fanatics leverages both its large network of partners and its own collection of proprietary brands to distribute goods to consumers all over the world. www.fanatics.com.

About Dreams, Inc.

Dreams, Inc. (NYSE Amex: DRJ) is a technology driven, multi-channel retailer focused on the sports licensed products industry. For more information, please visit www.Dreamscorp.com.

Forward Looking Statements:

This release contains forward-looking statements, including those regarding the proposed transaction. These statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including but not limited to: the ability of the parties to consummate the proposed transaction in a timely manner or at all; the satisfaction of conditions precedent to consummation of the Transaction, including the ability to secure regulatory approvals and approval by Dreams shareholders; the possibility of litigation (including litigation related to the transaction itself); and other risks described in Dreams, Inc.’s filings with the Securities and Exchange Commission (the “SEC”), including its most recent Form 10-K. All forward-looking statements are based on management’s estimates, projections and assumptions as of the date hereof, and Dreams does not undertake any obligation to update any forward-looking statements.

Additional Information and Where to Find It:

In connection with the proposed transaction and required stockholder approval, the Company will file a proxy statement with the SEC. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT AND OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT DREAMS AND THE TRANSACTION. Investors and Security holders may obtain free copies of these documents (when they are available) and other documents filed with the SEC at the SEC’s web site at www.sec.gov. In addition, the documents filed by Dreams with the SEC may be obtained free of charge by contacting Dreams, Inc. by mail at Dreams, Inc., 2 South University Drive, Plantation, Florida 33324, Attn: Corporate Secretary. The Company’s filings with the SEC are also available on Dreams’ website at: www.Dreamscorp.com.

Participants in the Solicitation

Dreams and its directors and executive officers may be deemed to be participants in the solicitation of proxies from Dreams’ shareholders in connection with the proposed transaction. Information about Dreams’ directors and executive officers is set forth in Dreams, Inc.’s Proxy Statement for its 2011 Annual Meeting of Stockholders, which was filed with the SEC on November 2, 2011 and its Annual Report on Form 10-K for the year ended December 31, 2011, which was filed with the SEC on March 29, 2012. These documents are available free of charge at the SEC’s website at www.sec.gov, and from Dreams, Inc. by contacting Dreams by mail at 2 South University Drive, Plantation, Florida 33324, Attn: Corporate Secretary. Additional information regarding the interests of participants in the solicitation of proxies in connection with the transaction will be included in the proxy statement that Dreams intends to file with the SEC.

TV Recording Feature Added to Broadway, Hauppauge’s (HAUP) TV Streamer

Quantum Technologies (QTWW) Announces Repayment of Senior Secured Debt

IRVINE, Calif., April 12, 2012 /PRNewswire/ — Quantum Technologies, Inc. (the “Company”) (Nasdaq: QTWW), announced today that it has fully repaid all of the outstanding indebtedness owed to its senior secured lender and, as a result of such repayment, the Credit Agreement between the Company and its senior secured lender has been terminated.

“We are extremely pleased to have fully repaid the debt obligations owed to our senior secured lender,” said Alan P. Niedzwiecki, President and CEO of Quantum. Mr. Niedzwiecki added, “Over the past twelve months, we have significantly improved our balance sheet by reducing our debt by approximately $13.5 million. Going forward, we can direct our resources on executing and expanding on our natural gas and hybrid vehicle programs as well as other business opportunities.”

About Quantum
Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, natural gas vehicle storage technologies, and alternative fuel vehicles. Quantum’s wholly owned subsidiary, Schneider Power Inc., and affiliate, Asola Solarpower GmbH, complement Quantum’s emerging renewable energy presence through the development and ownership of wind and solar farms, and manufacture of high efficiency solar modules. Quantum’s portfolio of technologies includes electronic controls, hybrid electric drive systems, natural gas and hydrogen storage and metering systems and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and natural gas vehicles. Quantum’s powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, natural gas fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum’s customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.

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

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

©2012 Quantum Fuel Systems Technologies Worldwide, Inc.
17872 Cartwright Road, Irvine, CA 92614
Phone 949-399-4500 Fax 949-399-4600

Mantra (MVTG) Welcomes Tom Unger as VP of Corporate Finance

Southcoast (SOCB) Announces First Quarter Earnings

MT. PLEASANT, S.C., April 12, 2012 (GLOBE NEWSWIRE) — Southcoast Financial Corporation (Nasdaq:SOCB) announced that it had unaudited net income of $1,243,000, or $0.23 per basic share, for the quarter ended March 31, 2012. This compares to unaudited net loss of $579,000, or $0.11 per basic share, for the quarter ended March 31, 2011. The March 31, 2012 income per share is based on 5,316,633 basic average shares compared to 5,270,053 basic average shares for the first quarter of 2011.

“The first quarter’s results were impacted by a decrease in operating expenses, gains on the sale of impaired assets, security gains and a reduction in our loan loss provision,” said L. Wayne Pearson, Chairman and Chief Executive Officer. “While we continue to work diligently on improving our asset quality, we continue to maintain strong capital levels and are encouraged by an improvement in our net core earnings over the quarter ended March 31, 2011.”

Net interest income decreased $56,000 from $3,233,000 for the first quarter of 2011 to $3,177,000 for the first quarter of 2012. A reduction in interest income due to volume decreases in average loans and securities was almost completely offset by the reduction of interest cost as existing liabilities repriced. The Company’s annualized net interest margin improved by 19 basis points to 3.46% for the first quarter of 2012 from 3.27% for the first quarter of 2011, due to the significant reduction in our cost of funds.

Noninterest income increased to $906,000 for the first quarter of 2012 from $342,000 for the first quarter of 2011, primarily due to $215,000 of securities gains and $124,000 of gains on sales of fixed assets during the first quarter of 2012, compared to securities gains of $21,000 and no gains on sales of fixed assets during the first quarter of 2011. Non-interest income levels for the quarter ended March 31, 2011 also included a $176,000 other-than-temporary impairment charge on an investment security. The amount of securities gains and other-than-temporary impairment charges may fluctuate significantly between periods.

Noninterest expense levels decreased to $2,652,000 for the quarter ended March 31, 2012 from $3,428,000 for the quarter ended March 31, 2011. The first quarter of 2012 included the benefit of $736,000 in net gains on sales of other real estate owned compared to only $2,000 in net gains for the quarter ended March 31, 2011.

Total assets as of March 31, 2012 were $437.6 million compared to $427.5 million as of December 31, 2011; an increase of 2.4%. Loans, excluding loans held for sale, increased to $323.4 million, up 1.1% from $319.7 million as of December 31, 2011. Deposits during the same period increased3.7% to $327.8 million, while other borrowings decreased 3.5% to $64.5 million.

The Company’s ratio of nonperforming assets to total assets was 6.71% as of March 31, 2012, compared to 6.37% as of March 31, 2011. The allowance for loan losses as a percentage of loans was 2.96% as of March 31, 2012, compared to 2.66% as of March 31, 2011. This increase is directionally consistent with the level of nonperforming problem loans. The allowance for loan losses as a percentage of total nonperforming loans totaled 43.13% as of March 31, 2012, compared to 42.58% as of March 31, 2011.

The subsidiary bank’s capital position as of March 31, 2012 remains substantially in excess of regulatory well-capitalized requirements, with tier 1 capital to average assets of 9.41%. “We continue to be encouraged by the future direction of our Company given our capital strength and improvement in core operations,” concluded Pearson.

About Southcoast Financial Corporation

Southcoast Financial Corporation, headquartered in Mt. Pleasant, South Carolina, is the holding company of Southcoast Community Bank. The Bank, which opened for business July 20, 1998, is a state chartered commercial bank operating from its main office at 530 Johnnie Dodds Boulevard in Mt. Pleasant, South Carolina and nine branches in the Charleston, South Carolina area. Trading in Southcoast Financial Corporation’s common stock is traded on the NASDAQ Global Market under the symbol SOCB.

CONTACT: William C. Heslop, Senior Vice President and
         Chief Financial Officer, (843) 216-3019

SEFE, Inc. (SEFE): SEFE Highlights Third Patent

SEFE, Inc. (OTCBB: SEFE.OB) (“SEFE”) (“The Company”), a technology- and solutions-driven sustainability company, focused today on the issuance of U.S. Patent #8,102,082 issued from the U.S. Patent and Trademark Office (USPTO) for an “Atmospheric Static Electricity Collector.” The patent was filed by the Company in September 2007. The Company believes this issuance stands as another milestone in SEFE’s mission to establish itself as a cornerstone of the atmospheric technology community.

Michael Hurowitz, SEFE Director of Engineering, said, “We have been able to develop a number of inventions around the Harmony III project that provide value in our industry and other industries as well. We will continue to strengthen our patent portfolio in order to remain competitive in our industry.”

“We were hopeful that we would get this patent awarded as an indication that the USPTO might recognize SEFE’s first position in atmospheric technology,” said Don Johnston, CEO of SEFE. “Our focus remains on the science and development of sustainable products to make ‘what-if’ a reality. These new issuances continue our drive to enhance shareholder value, with a focus on doing so responsibly, profitably, and sustainably. The new patent should make a significant contribution to the overall valuation of our portfolio.”

For more information visit www.SEFElectric.com.

About SEFE, Inc.

SEFE focuses on pushing the boundaries of what’s possible, embracing innovation and employing the cutting-edge to solve problems, and offering sustainable solutions to a world hungry for invention, direction and leadership. SEFE is technology- and solutions-driven, focusing on developing inventions that provide a real-world impact and true profitability. So, success is measured by both a sustainable return on investment, as well as a project’s sustainability from an environmental perspective.

For more information, visit www.SEFElectric.com.

Forward-Looking Statements

This release includes 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. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Trunkbow (TBOW) and China Unicom to Bring Mobile Payments to Sichuan Province

BEIJING, April 11, 2012 /PRNewswire-Asia/ — Trunkbow International Holdings Limited (NASDAQ: TBOW) (“Trunkbow” or the “Company”), a leading provider of Mobile Payment Solutions (“MPS”) and Mobile Value Added Solutions (“MVAS”) in China, today announced that it has extended its cooperation with China Unicom through the deployment of a new terminal-based MPS platform in Sichuan Province. Implementation of the platform began in the first quarter of 2012, and services are expected to launch in the second or third quarter.

“This partnership is another important step toward our goal of further extending Trunkbow’s leadership position in the emerging Chinese MPS market, and this expanded footprint should help support our ongoing merchant acquisition efforts,” said Mr. Qiang Li, CEO of Trunkbow. “We believe that partnering with enterprises and institutions to use MPS as an authentication tool is an excellent complement to the transaction processing applications with physical merchants at the point-of-sale. Our primary goal for 2012 is to drive adoption of MPS among merchants and consumers, and we believe that as businesses and academic institutions increasingly enable the use of MPS-based mobile handsets as an electronic identification tool, it will encourage end-users to further simplify their lives by using phones as a method of payment as well. We have a number of exciting projects planned that will significantly enhance the value proposition of MPS for merchants, consumers and enterprises through increased functionality and an expanded feature set, significantly increasing the range of end markets that can benefit from our technology solutions.”

Under the agreement, Trunkbow will receive recurring revenue payments based on a percentage of monthly subscriber fees and transactions processed using the MPS platform. During the first phase of deployment, Trunkbow and China Unicom will jointly market this MPS technology to corporations, academic institutions and other organizations as a SAAS and enterprise automation tool including authentication and internal payment functionalities. The companies plan to expand this marketing effort to include brick-and-mortar retail locations for point-of-sale payment applications following the initial ramp of enterprise installations.

This platform will allow China Unicom’s 5.5 million subscribers in Sichuan province to make purchases at retail locations using their mobile phones at the point-of-sale, and will function as a convenient, secure electronic identification card for students and employees at schools and other locations using the technology.

About Trunkbow

Trunkbow International Holdings (NASDAQ: TBOW) is a leading provider of Mobile Payment Solutions (“MPS”) and Mobile Value Added Solutions (“MVAS”) in PRC. Trunkbow’s solutions enable the telecom operators to offer their subscribers access to unique mobile applications, innovative tools, value-added services that create a superior mobile experience, and as a result generate higher average revenue per user and reduce subscriber churn. Since its inception in 2001, Trunkbow has established a proven track record of innovation, and has developed a significant market presence in both the Mobile Value Added and Mobile Payment solutions markets. Trunkbow supplies its mobile payment solutions to all three Chinese mobile telecom operators, as well as re-sellers, in several provinces of China. For more information, please visit www.trunkbow.com.

Safe Harbor Statement

This press release contains forward-looking statements that reflect the Company’s current expectations and views of future events that involve known and unknown risks, uncertainties and other factors that may cause its actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.  Such forward looking statements involve known and unknown risks and uncertainties, including but not limited to uncertainties relating to the Company’s relationship with China’s major telecom carriers and its resellers, competition from domestic and international companies, changes in technology, contributions from revenue sharing plans and general economic conditions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs.  You should understand that the Company’s actual future results may be materially different from and worse than what the Company expects. Information regarding these risks, uncertainties and other factors is included in the Company’s annual report on Form 10-K and other filings with the SEC.

Contact Information:

PURE Bioscience Introduces the PURE Complete Cleaning, Sanitizing and Disinfecting System

URE Bioscience, Inc. (NASDAQ: PURE), creator of the patented silver dihydrogen citrate (SDC) antimicrobial, today reported the launch of the PURE Complete Cleaning, Sanitizing and Disinfecting System. The PURE Complete System product line includes PURE Hard Surface disinfectant and food contact surface sanitizer, PURE Multi-Purpose Cleaner Concentrate and PURE Floor Cleaner Concentrate.

James McClenahan, Vice President of Sales for PURE Bioscience, stated, “With the addition of our PURE Multi-Purpose Cleaner Concentrate, we are pleased to now offer a comprehensive, cost effective and user-friendly product line to end-users, janitorial service providers and the distributors that supply them. The PURE Complete System strengthens infection control and sustainability programs for a wide range of environments, including hospitals, food processing facilities, restaurants, hospitality, schools, institutions, public facilities, transportation and businesses.

“Feedback from early marketing efforts is positive. Using a premium disinfectant as a cleaner is not the most cost effective way to clean, and we now can meet the specific needs of our customers by offering distinct product solutions priced competitively as a complete system,” continued McClenahan. “This budget-focused approach is opening doors for PURE Hard Surface as a next generation disinfectant/sanitizer product.”

About PURE Floor Cleaner and Multi-Purpose Concentrates

PURE’s non-toxic, environmentally responsible cleaning products are protected by SDC, a natural, non-toxic antimicrobial. SDC ensures the quality and safety of PURE Floor Cleaner and PURE Multi-Purpose Cleaner without human or environmental exposure to toxic chemical preservatives. PURE Floor Cleaner and PURE Multi-Purpose cleaner are non-flammable and contain no EDTA, phosphates, ammonia or bleach as well as no VOCs or NPEs. PURE Floor Cleaner and PURE Multi-Purpose Cleaner provide professional strength cleaning in a concentrate formula that yields a 1:128 use dilution that is safe for use on all resilient surfaces. The active ingredients in the cleaner products meet the US EPA’s DfE (Design for the Environment) Criteria for Safer Chemical Ingredients.

About PURE Hard Surface

U.S. EPA-registered PURE Hard Surface disinfectant and food contact surface sanitizer provides an unparalleled combination of high efficacy and low toxicity with 30-second bacterial and viral kill times and 24-hour residual protection. SDC-based PURE Hard Surface completely kills resistant pathogens like MRSA and Carbapenem-resistant Klebsiella pneumoniae (NDM-1) and also effectively eliminates dangerous fungi and viruses including HIV, Hepatitis B, Hepatitis C, Norovirus, Influenza A, Avian Influenza and H1N1 as well as hazardous food pathogens such as E. coli, Salmonella and Campylobacter. PURE Hard Surface delivers powerful broad-spectrum efficacy while remaining classified as least-toxic (Category IV) by the US EPA, and its active ingredient, SDC, has been determined Generally Recognized as Safe (GRAS) for use as a biocide on food processing equipment, machinery and utensils.

About PURE Bioscience, Inc.

PURE Bioscience, Inc. develops and markets technology-based bioscience products that provide solutions to numerous global health challenges, including Staph (MRSA). PURE’s proprietary high efficacy/low toxicity bioscience technologies, including its silver dihydrogen citrate-based antimicrobials, represent innovative advances in diverse markets and lead today’s global trend toward industry and consumer use of “green” products while providing competitive advantages in efficacy and safety. Patented SDC is an electrolytically generated source of stabilized ionic silver, which formulates well with other compounds. As a platform technology, SDC is distinguished from competitors in the marketplace because of its superior efficacy, reduced toxicity and the inability of bacteria to form a resistance to it. PURE is headquartered in El Cajon, California (San Diego metropolitan area). Additional information on PURE is available at www.purebio.com.

This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company’s cash position and liquidity requirements, the Company’s failure to implement or otherwise achieve the benefits of its strategic initiatives, acceptance of the Company’s current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50234632&lang=en

NeurogesX (NGSX) Provides Update on NGX-1998 Clinical Program

SAN MATEO, Calif., April 11, 2012 (GLOBE NEWSWIRE) — NeurogesX, Inc. (Nasdaq:NGSX), a specialty pharmaceutical company focused on developing and commercializing a portfolio of novel non-opioid, pain management therapies, today announced that the U.S. Food and Drug Administration (FDA) has accepted the Company’s request for an End-of-Phase 2 meeting to discuss the continued clinical investigation of NGX-1998 as a treatment for certain neuropathic pain conditions including, specifically, the Company’s plans for entering NGX-1998 into Phase 3 development. The Company anticipates that the End-of-Phase 2 meeting will occur in the third quarter of 2012.

NGX-1998, NeurogesX’ most advanced product candidate, is a topically applied liquid formulation containing a high concentration of capsaicin designed to treat pain associated with neuropathic pain conditions. The Company believes that the clinical data obtained to date should support moving to a Phase 3 clinical development program, which it believes can be initiated by the end of 2012.

The Phase 2 study that NeurogesX completed at the end of 2011 was a 12-week, multicenter, randomized, double-blinded, placebo-controlled clinical trial. Its protocol-specified objectives were met, including the primary endpoint of a percentage change from baseline as compared to placebo in a patient-reported numeric pain rating scale (NPRS) score during weeks two through eight. A total of 183 patients were treated in the Phase 2 study. Patients were randomized into one of three groups: NGX-1998 capsaicin 10% solution, NGX-1998 capsaicin 20% solution or placebo, according to an unequal allocation scheme of 2:2:1.  NGX-1998 exhibited a dose response. Although no topical anesthetic was used during the second stage of the study, the patients were able to tolerate the treatment procedure. No patients discontinued the study due to adverse events, and the incidence of adverse events and serious adverse events in patients treated with NGX-1998 were similar to the placebo-treated group.

About NeurogesX, Inc.

NeurogesX, Inc. (Nasdaq:NGSX) is a specialty pharmaceutical company focused on developing and commercializing a portfolio of novel non-opioid, pain management therapies to address unmet medical needs and improve patients’ quality of life.

The Company’s lead product, Qutenza^®, is currently approved in the United States and the European Union. Qutenza^® is now available in the United States for the management of neuropathic pain associated with postherpetic neuralgia (PHN). In Europe, Qutenza^® is being marketed by Astellas Pharma Europe Ltd. (Astellas), the European affiliate of Tokyo-based Astellas Pharma Inc., for the treatment of peripheral neuropathic pain in non-diabetic adults, either alone or in combination with other medicinal products for pain.

The Company’s most advanced product candidate, NGX-1998, is a topically applied liquid formulation containing a high concentration of capsaicin designed to treat pain associated with neuropathic pain conditions. NGX-1998 has completed three Phase 1 clinical trials and one Phase 2 clinical trial in PHN patients, and the Company believes that NGX-1998 is ready to enter Phase 3 development.

The Company’s early-stage pipeline includes pre-clinical compounds which include a number of prodrugs of acetaminophen. The Company has evaluated certain of these compounds in vitro and in vivo.

Safe Harbor Statement

This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the Act).  NeurogesX disclaims any intent or obligation to update these forward-looking statements, and claims the protection of the Safe Harbor for forward-looking statements contained in the Act.  Examples of such statements include but are not limited to statements regarding: the sufficiency of currently held data to support moving NGX-1998 development into Phase 3, the potential entry of NGX-1998 into Phase 3 development by the end of 2012; and the timing of the End-of-Phase 2 meeting with the FDA.  Such statements are based on management’s current expectations, but actual results may differ materially due to various risks and uncertainties, including, but not limited to: NGX-1998 may fail to demonstrate sufficient safety or efficacy in clinical trials to support further development or potential marketing approval; potential delays of the End-of-Phase 2 meeting with the FDA; difficulties or delays in the initiation of clinical trials for NGX-1998; Qutenza, NGX-1998 and NeurogesX’ other product candidates may have unexpected adverse side effects; NeurogesX may have insufficient resources to pursue clinical development of NGX-1998; and difficulties or delays in NeurogesX’ efforts to engage in strategic relationships with respect to development or commercialization of Qutenza or NGX-1998.  For further information regarding these and other risks related to NeurogesX’ business, investors should consult NeurogesX’ filings with the Securities and Exchange Commission.

CONTACT: NeurogesX, Inc.
         Stephen Ghiglieri
         Executive Vice President, COO and CFO
         (650) 358-3310
         sghiglieri@neurogesx.com

Satcon (SATC) Provides Business Update for First Quarter 2012

Satcon Technology Corporation® (NASDAQ CM:SATC), a leading provider of utility scale power conversion solutions for the renewable energy market, today provided a business update and certain preliminary unaudited financial results for its first quarter ended March 31, 2012.

Based on preliminary financial data and subject to the final closing of the company’s books, Satcon expects first-quarter 2012 revenue will be between $22 million and $25 million, in line with its previously announced guidance of $22 million to $28 million. Bookings for the first quarter were approximately $45 million, an increase of approximately 130% from the fourth quarter of 2011 and 27% from the first quarter of 2011. In addition, the quarter was the company’s most successful bookings period in four quarters, with a book-to-bill ratio of 1.9:1.

“The strategic measures that Satcon has implemented throughout the quarter continue to position the company for both improved financial performance and increased market share in the world’s highest growth solar markets,” said Steve Rhoades, Satcon’s President and Chief Executive Officer. “Bookings in the first quarter of 2012 demonstrate the strong demand for our industry leading solutions. We made significant progress in improving our balance sheet, reducing our working capital while paying down a significant portion of our short- and long-term debt. These actions have strengthened our cash flow position and have provided sufficient liquidity to meet our obligations and pursue our long-term growth strategy. The commercial success we have achieved in the quarter, along with the significant progress the company has made since the implementation of our strategic organizational alignment over the past six months, lay the foundation for profitable growth going forward.”

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 http://www.Satcon.com.

Safe Harbor

Statements made in this document that are not historical facts or which apply prospectively, including those relating to preliminary Q1 2012 financial results, are forward-looking statements that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as “will,” “intends,” “believes,” “expects,” “plans,” “anticipates” and similar expressions. 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 expectation. 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.

Video Display Corp. (VIDE) Subsidiary Forms New Division

ATLANTA, April 9, 2012 (GLOBE NEWSWIRE) — Video Display Corporation (Nasdaq:VIDE) announces that its Aydin Displays, Inc. subsidiary, a worldwide leader in providing ruggedized products for the industrial and military markets, has formed a new division, Aydin CyberSecurity, located in Palm Bay, Florida. The company’s announcement reflects the continuing effort by Aydin and Video Display Corporation to further increase the company’s products and services as it drives for greater growth and diversity.

Aydin CyberSecurity specializes in advanced TEMPEST technology and products and custom engineering solutions to include extreme environmental performance and survivability technologies (MIL-STD-810 and 00-160) in support of military forces, intelligence agencies, prime contractors and niche commercial sectors worldwide.

Through succession, Aydin CyberSecurity is heir to 40 years of specialty TEMPEST technology. TEMPEST is a classified application for limiting electromagnetic radiation emissions from electronic equipment in order to prevent its unauthorized disclosure. The Company serves two primary markets – first, the Military and Intelligence communities. Secondary markets include niche commercial first responders. The emphasis is on systems that require any combination of high-reliability, redundant architectures and stringent security requirements. The company’s longevity and reputation further bolsters the confidence customers can place in Aydin CyberSecurity as the best-value, low-risk source for their program objectives.

The company supplies a variety of projects and solutions that span multiple disciplines, applications, and industries as an original equipment manufacturer (OEM), a Value Added Reseller (VAR), and a prime or sub-contractor. The organization is adept at managing large scale, globally dispersed IDIQ contracts alone or with multiple partners and subcontractors.

Aydin CyberSecurity’s Palm Bay, Florida operations are located in a 25,000 sq. ft., restricted card facility and is ISO 900 I :2000 certified. The facility is outfitted with a full range of manufacturing, testing equipment, and three NSA-endorsed test chambers. The facility is approved under the U.S. Government’s Certified TEMPEST Products Program1 and maintains a DoD Approved Facility Clearance.

Aydin Displays is a leading provider in display manufacturing technology, servicing the industrial, military and air traffic control industries. Aydin offers a variety of industrial displays, rugged Military/COTS Flat Panel Displays, Military Panel PC Workstations, and Air Traffic Control Displays ranging in size from 6.4″ to 57″ now with the added capability of TEMPEST and TEMPEST certification. For more information, visit Aydin’s web site at www.aydindisplays.com.

This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, from time to time, Video Display Corporation or its representatives have made or may make forward-looking statements, orally or in writing. Such forward-looking statements may be included in, but are not limited to, various filings made by the Company with the Securities and Exchange Commission, press releases or oral statements made with the approval of an authorized executive officer of the Company. Actual results could differ materially from those projected or suggested in any forward-looking statements as a result of a wide variety of factors and conditions, including items discussed in the Company’s Form 10-K for the year ended February 28, 2011, filed with the Securities and Exchange Commission. The Company undertakes no duty to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.

Lihua on Track (LIWA) to Launch Production on New Smelters in April

DANYANG, China, April 9, 2012 /PRNewswire-Asia/ — Lihua International, Inc. (NASDAQ: LIWA) (“Lihua” or the “Company”), a leading Chinese developer, designer, and manufacturer of low cost, high quality alternatives to pure copper products, including refined copper products and superfine and magnet wire, as well as copper clad aluminum (“CCA”) wire, today announced that it is on track to commence production of copper anode on its two new smelters by the end of April. The construction team is currently completing the connection of the recycling system to the smelters and the dedicated power grid. Each of these smelters will add 25,000-30,000 tons of copper anode capacity on an annualized basis, giving Lihua a total of 85,000-95,000 tons of copper anode capacity per year and a total of 135,000 – 145,000 tons of refined copper production capacity per year.

“Despite the recent weakness in Lihua’s share price, there have been no developments within the Company that would warrant this level of volatility. On the contrary, our business has never been stronger,” said Mr. Jianhua Zhu, Lihua’s Chairman and Chief Executive Officer. “Demand from our primary copper anode customers continues to grow, and the volume demand from our largest customer alone already exceeds our post-expansion production capacity. Several weeks ago, we reported record results for 2011 and guided for year-over-year growth of more than 20% in both gross profit and non-GAAP net income in 2012. We remain confident in Lihua’s growth prospects and the fundamental strength of our business. With a number of catalysts that we expect will begin having a positive effect on our business in the near future, as well as continued support from our loyal investors, we believe that our Company’s valuation can become more aligned with and better reflect the strength of our business.”

Lihua carefully monitors its stock’s trading patterns. The Company is currently reviewing recent unusual trading activity and plans to report any suspicious activity to the U.S. Securities and Exchange Commission, as appropriate.

Lihua reiterated its financial guidance for full-year 2012 gross profit to be between $93 million and $96 million, and non-GAAP net income between $61 million and $64 million, representing year-over-year growth of 23-27% and 22-28%, respectively. The Company expects that 2012 growth will be largely the result of continued strong demand in China for recycled copper and copper alternative products in the overall copper consumption market including the household appliance, consumer white goods and infrastructure markets, as well as the increase in production capacity. In addition, the Company will distribute its second special dividend of $0.03 per share on April 13, 2012 to shareholders of record as of March 31, 2012.

About Lihua International, Inc.

Lihua, through its two wholly owned subsidiaries, Lihua Electron and Lihua Copper, is a leading value-added manufacturer of copper replacement products for China’s rapidly growing copper wire and copper replacement product market. Lihua is one of the first vertically integrated companies in China to develop, design and manufacture lower cost, high quality alternatives to pure copper magnet wire and pure copper alternative products. Lihua’s products include CCA and refined copper products. Current product offerings include CCA and pure copper wire, copper rod and copper anode. Except for CCA wire, all other products are produced from recycled scrap copper. Lihua’s products are sold in China either directly to manufacturers or through distributors in the wire and cable industries and manufacturers in a wide variety of industries including the consumer electronics, white goods, automotive, utility, telecommunications and specialty cable industries. Lihua’s corporate and manufacturing headquarters are located in the heart of China’s copper industry in Danyang, Jiangsu Province. For more information, visit: http://www.lihuaintl.com.

To be added to the Company’s email distribution for future news releases, please send your request to lihua@tpg-ir.com.

Safe Harbor Statement

This press release contains certain statements that may be deemed to be “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. All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, including, without limitation, statements about its business or growth strategy, general industry conditions including availability of copper or recycled scrap copper, future operating results of the Company, capital expenditures, expansion and growth opportunities, bank borrowings, financing activities and other such matters, are forward-looking statements. Although the Company believes that its expectations stated in this press release are based on reasonable assumptions, actual results may differ from those projected in the forward-looking statements.

Please note that information in this press release reflects management views as of the date of issuance.

Contact:

The Piacente Group, Inc.
Investor Relations
Brandi Floberg or Lee Roth
(212) 481-2050
lihua@tpg-ir.com

SOURCE Lihua International, Inc.

China BAK (CBAK) Announces Additional Contract to Supply High-Power Batteries to Chery Automobile

SHENZHEN, China, April 9, 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 on April 9, 2012, the Company entered into a new contract to supply high-power batteries to Chery Automobile Co., Ltd. (“Chery”).

Under the contract, China BAK will deliver 1,000 lithium-ion high-power battery units in 2012 to power Chery’s Ruilin M1 electric cars. The new contract is in addition to the Company’s previously-announced contract with Chery, entered into in February 2012, to supply 100 high-power battery units to Chery, which are on schedule to be delivered by June 2012. The Ruilin M1 is one of the five electric vehicle models that have been approved for government use since early this year.

Additionally, the Company announced that it will hold a joint press conference with Chery in mid-April in Tianjin. At the press conference, Chery and China BAK plan to announce a long-term cooperation program in the electric vehicles industry and invite an interactive discussion with the attendees.

“We believe that this additional order from Chery, and their anticipated further orders and cooperation, further underline our ability to deliver high-quality battery products and lead the development of China’s emerging electric vehicle battery market. Likewise, we continue to expect additional orders from other domestic customers for our lithium-ion high-power batteries to power electric vehicles in China in 2012,” commented Mr. Xiangqian Li, CEO of China BAK.

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. These factors include but are not limited to: the ability of the Company to meet its contract obligations; the uncertain market for the Company’s high-power lithium and other battery cells; business, macroeconomic, technological, regulatory, or other factors affecting the profitability of battery cells designed for electric vehicles; risks related to China BAK’s business and risks related to operating in China. 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.

SEFE Inc. (SEFE) Receives Patent for Dynamic Electrical Converter System

SEFE, Inc. (OTCBB: SEFE.OB) (“SEFE”) (“The Company”), a technology and solutions-driven sustainability company, announced today that it is the recipient of U.S. Patent #8,102,078 issued by the United States Patent and Trademark Office (USPTO) for a “Dynamic Electrical Converter System.” The patent was filed on September 4, 2008. The Company believes that this issuance further establishes SEFE as the owner of foundational atmospheric energy technology.

In layman’s terms, the dynamic electrical converter system receives the variable voltage collected by the Harmony III airborne unit from static electricity in the atmosphere, and converts it into a usable electrical configuration. The system includes a monitor to check the incoming voltage as well as multiple converters, each of which can accept a unique range of voltages and create the desired electrical output.

“We have worked diligently, with the help of our engineering and scientific teams, to develop sound intellectual property around our Harmony III product,” said Michael Hurowitz, SEFE Director of Engineering. “The issuance by the USPTO validates the unique nature of our company and the approaches we are taking to solve real-world energy problems. We believe additional coverage of the space will be awarded to SEFE in the near term, and will continue to add to the inventions.”

“This issuance provides further validation of our company’s core technology and increases our patent claims in key new areas for our business,” said Don Johnston, Chief Executive Officer of SEFE, Inc. “The USPTO again recognizes SEFE’s first position and our contribution to the field of atmospheric technology. This issuance is a long-awaited milestone in the development of our foundational intellectual property portfolio, and a victory for our company and its shareholders. The new patent should make a significant contribution to the overall valuation of our portfolio.”

About SEFE, Inc.

SEFE focuses on pushing the boundaries of what’s possible, embracing innovation and employing the cutting-edge to solve problems, and offering sustainable solutions to a world hungry for invention, direction and leadership. SEFE is technology- and solutions-driven, focusing on developing inventions that provide a real-world impact and true profitability. So, success is measured by both a sustainable return on investment, as well as a project’s sustainability from an environmental perspective.

For more information, visit www.SEFElectric.com.

Forward-Looking Statements

This release includes 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. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Carrollton Bancorp (CRRB) and Jefferson Bancorp, Inc. Agree to Merger

Jefferson Bancorp, Inc., parent company for Bay Bank, FSB and Carrollton Bancorp (Nasdaq: CRRB), parent company for Carrollton Bank, today announced the execution of a definitive agreement for merger of Jefferson Bancorp, Inc (“Jefferson”) and Carrollton Bancorp (“Carrollton”). The subsidiary banks, Bay Bank, FSB and Carrollton Bank will also merge, with Bay Bank, FSB being the surviving entity. The transaction is currently valued at approximately $25 million in stock and cash, representing $15.4 million in consideration to Carrollton shareholders and repayment of $9.1 million in TARP funding to the US Treasury. The transaction will combine the strengths of the two organizations in the Maryland market with a combined 12 bank branches in the Baltimore/Washington market.

“The Board is very excited about this transaction. It represents the execution of our stated strategy to be opportunistic in our growth through mergers with like minded Maryland community banks,” said Kevin Byrnes, Chairman of Bay Bank. “We believe that our access to capital when coupled with our highly experienced management team will allow us to grow to the scale necessary to meet the needs of our customers on a full service basis.”

Carrollton will be the surviving holding company in the merger and the transaction is structured as a tax-free reorganization. In exchange for 100% of the outstanding shares of Jefferson, Financial Services Partners Fund I (“FSPF”) and the other shareholders of Jefferson, after an $11 million incremental investment by FSPF in Jefferson prior to the merger, will receive newly issued shares of Carrollton common stock representing approximately 85.92% of the total outstanding shares of Carrollton as of the closing of the merger, assuming the current Carrollton shareholders elect to exchange for cash fully 50% of the current outstanding shares of common stock of Carrollton. This represents a fixed exchange ratio of 2.2217 Carrollton shares for each Jefferson share and values Carrollton shares at $6.20 per share. In connection with the merger, the current Carrollton shareholders will be entitled to elect to exchange for $6.20 per share up to 50% of the currently outstanding shares of Carrollton common stock in the aggregate.

“We have been very pleased with the performance of our initial investment in Jefferson and are delighted to be contributing additional equity to facilitate the formation of a strengthened franchise in the Baltimore-Washington market with scale, talent and resources required to provide excellence in community banking services in the future,” said Joseph J. Thomas, Managing Director of Hovde Private Equity Advisors LLC and Chairman of Jefferson Bancorp, Inc.

On a pro forma consolidated basis, the new Carrollton will have approximately $472.3 million in total assets, $382.8 million in gross loans, and $412.9 million in total deposits, after purchase accounting adjustments. The combined bank will have tangible common equity in excess of 10% and reduced levels of non-performing assets relative to capital as compared to Carrollton on a stand-alone basis. Furthermore, the revenue synergies and cost savings in the transaction are expected to demonstrably improve profitability and return on capital as compared to Carrollton on a stand-alone basis. The new Carrollton Board of Directors will consist of six existing Jefferson directors and three directors from the legacy Carrollton Board.

“Carrollton Bank has done a wonderful job of serving the Baltimore market for over 100 years with a strong commitment to the community. Carrollton has a solid retail branch network, a successful mortgage operation, and an innovative mix of fee-based products. We look forward to combining the strengths of the two organizations to better serve the market with high quality people and a superior customer service experience,” said Kevin B. Cashen, President and Chief Executive Officer of Jefferson, who will serve as President and Chief Executive Officer of Carrollton after the merger. “We are very happy that, with this merger, we will be well positioned to become the bank of choice for those consumers and businesses looking for a strong, local bank with deep roots in the community.”

Carrollton Bank’s President and CEO, Robert Altieri, will join the management team of Bay Bank as an Executive Vice President, managing several of the bank’s core businesses. Mr. Altieri will also be an integral part of the efforts to effectively integrate the two banks. “Bob has been a long-term banker in this market and has a tremendous reputation. We are very excited to have him with us on the executive management team to help grow our franchise and expand our business lines,” said Cashen.

“Bay Bank has made a strong push into the Maryland banking market over the past two years and we are very excited to join forces to further expand our market share. We believe that each organization brings unique strengths to the combined bank and that we will be well positioned to become a dominant community bank in the market,” said Robert Altieri.

The transaction, which has been approved by both Carrollton’s and Jefferson’s boards of directors, is expected to close in the third quarter of 2012. The transaction is subject to certain customary conditions, including the approval by Carrollton’s shareholders and regulatory approvals.

Monocacy Financial Advisors, LLC acted as financial advisor to Carrollton and K&L Gates is acting as Carrollton’s legal counsel. Arnold & Porter LLP is acting as legal counsel to Jefferson.

About Jefferson Bancorp, Inc. /Bay Bank, FSB

Jefferson Bancorp, Inc was formed in July 2010 to acquire certain assets and assume certain liabilities of Bay National Bank from the Federal Deposit Insurance Corporation. Substantially all of the Jefferson Bancorp’s outstanding common shares are owned by Financial Services Partners Fund I LLC (“FSPF”). FSPF is a Delaware limited liability company established on July 1, 2005, to pursue equity investments in banks, thrifts, insurance and specialty finance institutions. Jefferson Bancorp, Inc. is a savings & loan holding company for Bay Bank, FSB. Bay Bank, FSB is headquartered in Lutherville, Maryland, and is focused on providing superior customer service to small and medium-sized businesses, their owners and professionals located throughout the region. Its core products are commercial loans, real estate loans, commercial and consumer deposit services, cash management services and consumer loans. As of December 31, 2011, Bay Bank had total assets of approximately $130 million and two branch locations. Please visit Bay Bank’s website at www.baybankmd.com for additional information.

About Carrollton Bancorp/Carrollton Bank

Carrollton Bank is a wholly-owned subsidiary of Carrollton Bancorp, a publicly traded bank holding company (NASDAQ: CRRB) headquartered in Columbia, Maryland. Carrollton Bank has been committed to providing outstanding financial service to the central Maryland region for more than 100 years. Carrollton Bank provides a wide range of financial services for personal and business banking customers, including a variety of checking accounts, competitive rates on certificates of deposit and savings accounts, commercial lending, free nationwide ATMs with the MoneyPass® symbol, mortgages, investment services* and 24-hour internet and telephone banking. As of December 31, 2011, Carrollton Bank had approximately $365 million in total assets and ten (10) branch locations in the region. Please visit Carrollton Bank’s website at www.carrolltonbank.com for additional information.

Additional Information about the Merger and Where to Find It

In connection with the proposed merger transaction, Carrollton Bancorp will file with the Securities and Exchange Commission a Proxy Statement as well as other relevant documents concerning the proposed transaction. Shareholders are urged to read the Proxy Statement regarding the merger when it becomes available and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information.

A free copy of the Proxy Statement, as well as other filings containing information about Carrollton Bancorp may be obtained at the SEC’s website at http://www.sec.gov. You will also be able to obtain these documents, free of charge, from Carrollton Bancorp at www.carrolltonbank.com under the tab “Investor Relations”.

Jefferson Bancorp and Carrollton Bancorp and certain of their directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Carrollton Bancorp in connection with the proposed merger. Information about the directors and executive officers of Carrollton Bancorp is set forth on the Carrollton Bancorp website in the “Investor Relations” tab. Information about the directors and executive officers of Jefferson Bancorp/Bay Bank is set forth on the Bay Bank website in the “About Bay Bank” tab. Additional information regarding the interests of those participants and other persons who may be deemed participants in the transaction may be obtained by reading the Proxy Statement regarding the proposed merger when it becomes available. Free copies of this document may be obtained as described in the preceding paragraph.

* Investment products offered through Carrollton Financial Services, Inc. are not deposits or other obligations of Carrollton Bank or any affiliate; are not insured by the Federal Deposit Insurance Corporation (FDIC) or any other agency of the United States Government, Carrollton Bancorp or any affiliate; and in case of a product that is subject to investment risk, there is possible loss of value.

Forward-Looking Statement:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Carrollton and Jefferson and the financial condition and projected expenses of Carrollton, Jefferson and the combined company. These forward-looking statements about future expectations, plans and prospects of Carrollton, Jefferson and the combined company involve significant risks, uncertainties and assumptions, including risks that can be found in the “Risk Factors” section of the Carrollton Annual Report on Form 10-K on file with the Securities and Exchange Commission and the other reports that Carrollton periodically files with the Securities and Exchange Commission. Actual results may differ materially from those Carrollton contemplated by these forward-looking statements. These forward looking statements reflect management’s current views and Carrollton does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this release.

New Frontier Media’s (NOOF) Special Committee Retains Financial Advisor to Assist in Evaluating Strategic Alternatives

BOULDER, Colo., April 3, 2012 /PRNewswire/ — New Frontier Media, Inc. (NasdaqGS: NOOF), a leading provider of transactional television services and distributor of general motion picture entertainment, today announced that the Special Committee of the Board of Directors of New Frontier Media has retained Avondale Partners, LLC, a nationally recognized full service investment banking firm, as its financial advisor to examine and consider a broad range of strategic alternatives. The strategic review will evaluate the Company’s current long-term business plan against a broad range of alternatives that have the potential to maximize shareholder value. The process to review strategic alternatives will be overseen by the Special Committee of independent directors that, as previously announced, is also evaluating the recent unsolicited non-binding acquisition proposals that were recently received by New Frontier Media. The Special Committee is also being assisted by its legal advisor, Alston & Bird LLP. New Frontier Media is being advised by Holland & Hart LLP.

Alan L. Isaacman, Chairman of the Special Committee, stated that, “Our Board of Directors remains very enthusiastic about New Frontier Media’s future prospects and has made no decision to sell the Company. However, in keeping with our commitment to act in the best interests of all shareholders, we have decided to undergo a thorough review of strategic alternatives to determine the best opportunities for maximizing shareholder value at this time. Accordingly, while our financial advisor will assist us with reviewing and responding to the unsolicited acquisition proposals that we have received, as well as any other acquisition proposals that we may receive, the scope of our financial advisor’s assignment will be comprehensive and not limited to any specific vision for New Frontier Media’s future.”

The Special Committee, working with its financial and legal advisors, intends to proceed in a timely and orderly manner to consider a broad range of possible strategic alternatives for New Frontier Media and their implications, but has not set a definite schedule for the completion of its evaluation.

New Frontier Media cautions that there are no guarantees that the strategic alternative review process will result in a transaction or, if a transaction is approved by the New Frontier Media Board of Directors, whether the terms or timing of such a transaction will be approved by shareholders.

New Frontier Media currently does not intend to make any further public announcements regarding its Special Committee’s review of possible strategic alternatives until such time as the New Frontier Media Board of Directors approves a transaction or otherwise determines that further disclosure is appropriate.

About New Frontier Media, Inc.
New Frontier Media, Inc. is a provider of transactional television services and a distributor of general motion picture entertainment. Our Transactional TV segment distributes adult content to cable and satellite providers who then distribute the content to retail consumers via video-on-demand (VOD) and pay-per-view (PPV) technology. Programming originates from our state of the art digital broadcast infrastructure in Boulder, Colorado. We obtain our programming primarily by licensing content distribution rights from movie studios, and we distribute new and unique programming in order to provide consumers with an exceptional viewing experience.

Our Film Production segment is a distributor of mainstream and erotic films. The films are distributed to cable and satellite operators, premium movie channel providers and other content distributors. We act as a sales agent for mainstream films and produce erotic films. The segment also periodically provides contract film production services to major Hollywood studios.

We are headquartered in Boulder, Colorado, and our common stock is listed on the Nasdaq Global Select Market under the symbol “NOOF.” For more information about New Frontier Media, Inc., contact Grant Williams, Chief Financial Officer, at (303) 444-0900, extension 2185, and please visit our web site at www.noof.com.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “demonstrate,” “expect,” “estimate,” “anticipate,” “should” and “likely” and similar expressions identify forward-looking statements. In addition, statements that are not historical should also be considered forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. Forward-looking statements contained in this release may relate to, but are not limited to, statements regarding the review by New Frontier Media’s special committee of independent directors of potential strategic alternatives, the timing of such review, and the outcome of such review. Such forward-looking statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. These factors include, but are not limited to, the risks detailed in New Frontier Media’s filings with the Securities and Exchange Commission, including its most recent filings on Form 10-K and Form 10-Q , or in information disclosed in public conference calls, the date and time of which are released beforehand. New Frontier Media is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise.

Yongye International (YONG) Provides Update on Accounts Receivable Collection

BEIJING, April 3, 2012 /PRNewswire-Asia-FirstCall/ — Yongye International, Inc. (NASDAQ: YONG), (“Yongye” or the “Company”) a leading developer, manufacturer, and distributor of crop nutrient products in the People’s Republic of China (“PRC”), today provided an update on accounts receivable collection as of the quarter ended March 31, 2012.

During the first quarter of 2012 the Company collected $140 million of $154 million accounts receivable, net of allowance for doubtful accounts at the end of 2011. The Company has taken measures to increase its collection efforts and closely monitor its distributors’ financial status, and it expects to collect the remaining accounts receivable balance in the second quarter of 2012.

The Company’s regular payment terms allow distributors to pay the total purchase price within six months after the receipt of the Company’s products. Recent tightening of local credit markets has increased utilization of the Company’s full six month credit term by its distributors, which contributed to the Company’s account receivables at the end of 2011. The delay in payments from the distributors was not due to excessive inventories of unsold product held by such distributors, nor was it due to a decrease in demand for Yongye products among distributors and end customers.

Mr. Zishen Wu, Chairman and Chief Executive Officer of Yongye, stated, “We are pleased to provide a positive update on our accounts receivable collection. Yongye’s continued operating success is a testament to our leading products, innovative sales and marketing, and our strong and secure relationships with our distributors with whom we are very pleased to partner.”

About Yongye International, Inc.

Yongye International, Inc. is a leading crop nutrient company headquartered in Beijing, with its production facilities located in Hohhot, Inner Mongolia, China. Yongye’s principal product is a liquid crop nutrient, from which the Company derived substantially all of the sales in 2011. The Company also produces powder animal nutrient product which is mainly used for dairy cows. Both products are sold under the trade name “Shengmingsu,” which means “life essential” in Chinese. The Company’s patented formula utilizes fulvic acid as the primary compound base and is combined with various micro and macro nutrients that are essential for the health of the crops. The Company sells its products primarily to provincial level distributors, who sell to the end-users either directly or indirectly through county-level and village-level distributors. For more information, please visit the Company’s website at www.yongyeintl.com.

Safe Harbor Statement

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

Contacts

Yongye International, Inc.
Ms. Kelly Wang
Finance Director – Capital Markets
Phone: +86-10-8231-9608
E-mail: ir@yongyeintl.com

Ms. Wendy Xuan
Business Associate
Phone: +86-10-8232-8866 x 8827
E-mail: ir@yongyeintl.com

FTI Consulting
Mr. John Capodanno (U.S. Contact)
Phone: +1-212-850-5705
E-mail: john.capodanno@fticonsulting.com

Ms. Mingxia Li (China Contact)
Phone: +86-10-8591-1060
E-mail: mingxia.li@fticonsulting.com

Marshall Edwards (MSHL) Announces Data from Clinical Trial of ME-143 Selected for Presentation at ASCO Annual Meeting

SAN DIEGO, April 3, 2012 /PRNewswire/ — Marshall Edwards, Inc. (Nasdaq: MSHL), an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism, announced today that data from a Phase I clinical trial of the Company’s lead drug candidate ME-143 has been selected for presentation at the American Society of Clinical Oncology (ASCO) Annual Meeting, to be held June 1-5, 2012, in Chicago. An abstract of the presentation, entitled “ME-143, a novel inhibitor of tumor-specific NADH oxidase (tNOX): Results from a first-in-human phase I study,” will be available online at www.asco.org approximately two weeks before the Annual Meeting.

“This represents an exciting opportunity to present the data from our trial of ME-143 to oncology thought leaders from around the world,” said Robert Mass, M.D., Chief Medical Officer of Marshall Edwards. “These data will be instrumental as we prepare for the first of our randomized Phase II clinical trials later this year. We are grateful for the ongoing commitment of the clinical investigators, trial coordinators and especially the patients who participated in this study.”

Marshall Edwards recently completed enrollment of the fourth cohort in the Phase I clinical trial of ME-143. The dose-escalation trial is evaluating the safety and tolerability of ME-143 in patients with refractory solid tumors. In addition, the trial is designed to characterize the pharmacokinetic profile of intravenous ME-143 and describe any preliminary clinical anti-tumor activity observed. The multi-center trial is being conducted in collaboration with the Sarah Cannon Research Institute.

About Marshall Edwards

Marshall Edwards, Inc. (Nasdaq: MSHL) is a San Diego-based oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism. The Company’s lead drug candidates, ME-143 and ME-344, have been shown in laboratory studies to interact with specific enzyme targets resulting in inhibition of tumor cell metabolism, a function critical for cancer cell survival. Marshall Edwards initiated a Phase I clinical trial of intravenous ME-143 in patients with solid refractory tumors in September 2011 and plans to present safety and pharmacokinetic data from the trial at the American Society of Clinical Oncology Annual Meeting in June 2012. The Company submitted an Investigational New Drug application for ME-344 in March 2012 and plans to initiate a Phase I clinical trial of intravenous ME-344 in patients with solid refractory tumors immediately following approval by the FDA. For more information, please visit www.marshalledwardsinc.com.

Under U.S. law, a new drug cannot be marketed until it has been investigated in clinical trials and approved by the FDA as being safe and effective for the intended use. Statements included in this press release that are not historical in nature are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that our actual results could differ materially from those contained in the forward-looking statements, which are based on management’s current expectations and are subject to a number of risks and uncertainties, including, but not limited to, our failure to successfully commercialize our product candidates; costs and delays in the development and/or FDA approval, or the failure to obtain such approval, of our product candidates; uncertainties or differences in interpretation in clinical trial results; our inability to maintain or enter into, and the risks resulting from our dependence upon, collaboration or contractual arrangements necessary for the development, manufacture, commercialization, marketing, sales and distribution of any products; competitive factors; our inability to protect our patents or proprietary rights and obtain necessary rights to third party patents and intellectual property to operate our business; our inability to operate our business without infringing the patents and proprietary rights of others; general economic conditions; the failure of any products to gain market acceptance; our inability to obtain any additional required financing; technological changes; government regulation; changes in industry practice; and one-time events. We do not intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements.

GlobalWise (GWIV) Announces Channel Sales Partnership With ImageSoft

COLUMBUS, OH — (Marketwire) — 04/03/12 — 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 a Channel Sales Partnership contract has been executed with ImageSoft, Inc.

ImageSoft (www.imagesoftinc.com) provides innovative content management solutions that enable organizations to operate more efficiently and effectively. Founded in 1996, ImageSoft provides high-end ECM software products to serve state and county governments, insurance, healthcare, court systems and educational institutions. ImageSoft has ECM clients within the United States, Canada and Mexico.

“We are very pleased to announce the addition of the Intellivue™ ECM Solution to our technology offering,” said Scott Bade, ImageSoft President. “Intellivue will help us expand in several key markets where we already have a presence.” Since 2000 ImageSoft, Inc. has been a Platinum partner of one of Gartner Magic Quadrant’s top ECM companies. “Intellivue has focused on tight integration with key line-of-business applications, with an aggressive pricing strategy that fits a wide range of customers,” concluded Mr. Bade.

“By partnering with Intellinetics, ImageSoft now has an affordable, cloud-based ECM solution for the small-to-mid sized client,” stated William J. “BJ” Santiago, CEO of GlobalWise. “We expect this relationship will open many new doors for Intellinetics. In fact, even before contract signing we were already jointly working on client proposals. The Intellivue™ platform fills a void in the market for those clients who can only afford to spend under $100,000 for an ECM solution. I expect to see multiple client relationships as a result of this exciting new Channel Partner.”

About ImageSoft, Inc.

ImageSoft, Inc. is a leading provider of tailored technology solutions to automate, streamline and improve workplace processes, and thereby, increase productivity, reduce operating costs and save time and money. Its markets include insurance companies, government, the courts, healthcare and educational institutions, and manufacturers. Founded in 1996, ImageSoft serves customers throughout the U.S., Canada and Mexico. An award winning company, in 2009 and 2008, ImageSoft was selected as one of Inc. Magazine’s Fastest-Growing Privately Held Companies and was named one of Michigan’s Economic Bright Spots by Corp! Magazine. Additionally, in 2008, it was cited as a Michigan 50 Companies to Watch by the Edward Lowe Foundation and, since 2007, has been named one of Metropolitan Detroit’s 101 Best and Brightest Companies to Work For. For additional information, please visit the Company’s corporate website: www.imagesoftinc.com

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.
www.GlobalWiseInvestments.com
614-388-8909
Contact@GlobalWiseInvestments.com

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

AxoGen, Inc. (AXGN) Poised For Strong Growth In Regenerative Medicine

The following article was recently posted to Seeking Alpha by Cockrell Group. To view the original source, please click the following link: http://seekingalpha.com/instablog/1766851

Nerve damaging injuries and surgeries can lead to a life of despair for the patient, leaving them with limited, or no, ability to move or even experience the feeling of touch. Recent advances in the field of regenerative medicine are giving hope to those suffering the debilitating effects of nerve injuries. As an emerging player in the area, AxoGen Inc. (AXGN) is poised to significantly contribute to this cutting-edge science.

Regenerative medicine enables the repair, restoration or replacement of tissue or organ systems of the body. Peripheral nerves provide the pathways for both motor and sensory signals between the central nervous system and target organs, regulating movement and touch. Traditionally, when peripheral nerves are damaged, patients have been presented with few medical options that offer meaningful recoveries.

AxoGen’s proprietary products give surgeons new alternatives to repair damaged peripheral nerves. The company’s products include AxoGuard® Nerve Connector, AxoGuard® Nerve Protector and Avance® Nerve Graft. AxoGuard® Nerve Connector is a coaptation aid to reconnect severed nerves, and AxoGuard® Nerve Protector protects nerves as the body heals after surgery. Avance® Nerve Graft, which is regarded as the first and only commercially available processed nerve allograft, bridges nerve gaps in severed nerves.

Hundreds of peripheral nerve injuries occur every day as a result of car crashes, power tool accidents and military combat. AxoGen’s products position it to be able to tap into this large and growing peripheral nerve repair market.

Ladenburg Thalmann & Co., Inc. analyst Jeffrey Cohen stated, “We would currently estimate that there are approximately 140,000 to 180,000 annual [autograph] procedures of the sural nerve in the United States. Coupled with other potential indications for usage, we believe that the market size for Avance in the U.S. to be approximately $500 million. The market for the rest of world could potentially double the size of the market.”

Patients who suffer from these types of injuries, which number more than 700,000 a year, have had few options for a meaningful recovery. These challenging injuries have traditionally been repaired by surgeons who transplant a healthy nerve from another area in the patient’s body to the nerve repair site. This creates an additional procedure that can lead to scarring, potential loss of feeling and pain in the area from which the nerve was removed. AxoGen’s products do away with these issues.

The Avance® Nerve Graft was recently the topic of a clinical study led by The Buncke Clinic in San Francisco. Called the RANGER study, it included 12 centers and 25 surgeons making it the largest multi-center study in peripheral nerve reconstruction. The findings were published in the January 2012 issue of study.

The principal investigator for the study was Dr. Darrell Brooks, a plastic surgeon with The Buncke Clinic. Calling the clinical study results a ‘paradigm shift,’ Brooks noted that the information he now uses to counsel his patients before their surgeries will change.

“It is commonly accepted among surgeons who do peripheral nerve repair that success of surgery depends on the type of injury, length of nerve discontinuity, the patient’s age and the type of nerve,” Dr. Brooks has stated. “Our study findings show that with processed nerve allograft, patients can have meaningful recovery regardless of these factors.”

There were no reported implant complications, tissue rejections or adverse events related to the use of the processed nerve allografts. Trial participants included subjects from Level 1 trauma centers, academic medical centers, military medical centers and community medical centers.

To further boost its presence in the regenerative medical field, AxoGen last year merged with LecTec. Although there were increased expenses as a result of the merger that contributed to an operating loss of $9.2 million for 2011, the company’s revenues and gross profit increased. Revenues increased 61% to $4.9 million in 2011 compared to 2010. The company’s gross profit increased 49% to $2.4 million for the same period.

AxoGen is poised to continue to improve its financial results. It has committed to specific growth areas, including investing in its sales force and expanding clinical and scientific data regarding the performance of its products.

Moving forward, the company intends to use its capital resources to continue to improve shareholder value with focused commercialization strategies to increase awareness and adoption of the new regenerative medicine technologies for peripheral nerve repair.

Jeffrey Cohen initiated coverage on AxoGen shares with a BUY rating and a target price of $4.50 in January 2012. That price is based on a discounted fiscal 2013 Enterprise Value to Revenue (EV/R) multiple compared to several of AxoGen’s peers.

As of the time of writing, the company was trading at $2.70.

Over a series of articles, the impact of AxoGen’s products will be examined. This includes the story of a 10-year old boy who suffered nerve damage to his arm after an ATV accident.

Ku6 Media (KUTV) Announces Partnership with Channel[V]

BEIJING, March 30, 2012 /PRNewswire-Asia/ — Ku6 Media Co., Ltd. (“Ku6 Media” or the “Company”, Nasdaq: KUTV), is a leading internet video company in China, focusing on User Generated Content (UGC), today announced that it has entered into an agreement with Star China to cooperate with its well-known international music television channel Channel[V].

Pursuant to the agreement, Channel[V] will lanuch its official online channel on Ku6 Media’s platform for its current and upcoming music entertainment programs in mainland China. Ku6 Media will be responsible for all non-content operations including platform operation, online promotion and IT support etc.

Mr. Jeff Shi, Chief Executive Officer of Ku6 Media, commented, “We are very pleased with the cooperation with Channel[V]. We believe this will strengthen our position in the online music entertainment area. It will also enable both parties to play to their strengths and bring users easier access to richer entertainment content, which is part of Ku6 Media’s long-term mission.”

Mr. Ming Tian, Chief Executive Officer of Star China, added, “We are very excited about partnering up with Ku6 Media. Their popular online video portal is a great complement to our TV channels. Through the cooperation with Ku6 Media, we will be able to deliver our excellent entertainment content to a wider group of audiences. We look forward to the great result from our cooperation.”

About Star China Ltd.

Star China Ltd., pioneered satellite television in China. Providing more people with more choice than ever before, Star China also set new standards in content, production value and variety. Star China controls over XingKongWeishi, XingKong International and Channel[V] and also owns the world’s largest contemporary Chinese film library. This rich and top-quality content asset gives Star China a winning edge in today’s multi-media, connected marketplace.

About Ku6 Media Co., Ltd.

Ku6 Media Co., Ltd. (Nasdaq: KUTV) is a leading internet video company in China, focusing on User Generated Content (UGC). Through its premier online brand and online video website, www.ku6.com, Ku6 Media provides online video upload and sharing service, video reports, information and entertainment in China. For more information about Ku6 Media, please visit http://ir.ku6.com.

Safe Harbor Statement

This news release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “believes,” “could,” “expects,” “may,” “might,” “should,” “will,” or “would,” and by similar statements. Forward-looking statements are not historical facts, but instead represent only the Company’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of its control. It is possible that the Company’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Some of the risks and important factors that could affect the Company’s future results and financial condition include: continued competitive pressures in China’s internet video portal market; changes in technology and consumer demand in this market; the risk that Ku6 Media may not be able to control its expenses in the future; regulatory changes in China with respect to the operations of internet video portal websites; the success of Ku6 Media’s ability to sell advertising and other services on its websites; and other risks outlined in the Company’s filings with the Securities and Exchange Commission, including the Company’s annual report on Form 20-F. Ku6 Media does not undertake any obligation to update this forward-looking information, except as required under law.

BioClinica (BIOC) Partners With Mirada Medical for New Era of Molecular Image Analysis in Clinical Trials

NEWTOWN, PA and OXFORD, UK — (Marketwire) — 03/30/12 — BioClinica®, Inc. (NASDAQ: BIOC), a global provider of clinical trial management solutions, today announced a partnership with Mirada Medical, a leading provider of medical image analysis software. BioClinica will integrate Mirada’s XD3 software solution into its imaging core lab technology to further enhance its PET capabilities and expertise for molecular imaging trials.

Mirada Medical’s software provides unique tools and efficient workflows for the quantification and tracking of findings for major modalities including PET, CT, MR and MR/PET. After a careful evaluation of available molecular imaging solutions, BioClinica selected Mirada for its advanced image analysis capabilities and ability to handle not only PET images but CT and MRI as well. This will further enhance BioClinica’s image registration and fusion capabilities in studies where multiple modalities are utilized.

BioClinica’s strategy goes beyond a standard utilization of Mirada’s software by creating a strategic partnership that will foster innovation as the molecular imaging field continues to develop. BioClinica will integrate Mirada’s XD3 image analysis software platform into its processes and workflows, adopting an innovative design that will advance the clinical capabilities of BioClinica technologies such as BioPACS and BioREAD. These high-performing imaging workflow and processing programs will now have expanded capabilities to help trial sponsors harness the superior imaging results that are achievable through PET scans and multi-modal technology.

Through this partnership, BioClinica’s PET image processing capabilities will extend oncology clinical trials with support for the following features:

• Enhanced capabilities for PERCIST tumor response assessment criteria
• Normalization of uptake by body weight, lean body mass, or body surface area for SUV measurements
• Registration and fusion capabilities between PET, CT, and MR
• Customizable workflow and user interface to provide flexibility in the independent read design

“Adding Mirada technology to our oncology trial process takes BioClinica’s already robust imaging core lab services to a new level,” said Dr. Andy Dzik-Jurasz, BioClinica’s Senior Medical Director of Medical Affairs. “By adding XD3 to our workflow, BioClinica will offer the most sophisticated level of clinical analysis available for oncology PET scan image processing.”

“Mirada is delighted to partner with an innovative industry leader like BioClinica,” said Timor Kadir, Chief Science and Technology Officer at Mirada Medical. “We are excited to see BioClinica’s innovative utilization of XD3’s superior quantification and world class image fusion to achieve more accurate and reproducible results for their trial sponsors.”

As part of this partnership, Mirada Medical will present at BioClinica’s upcoming User Conference in October. The BioClinica User Conference consists of two days of valuable presentations, case studies and discussions designed to help BioClinica imaging core lab customers and eClinical solution users discover new ways to run faster, more efficient clinical trials. To learn more about the conference, visit http://www.bioclinica.com/User-Conference-2012.

Follow BioClinica on the Trial Blazers blog at http://info.bioclinica.com/blog, and on Twitter at http://twitter.com/bioclinica.

About BioClinica, Inc.
BioClinica, Inc. is a leading global provider of integrated, technology-enhanced clinical trial management solutions. BioClinica supports pharmaceutical and medical device innovation with imaging core lab, internet image transport, electronic data capture, interactive voice and web response, clinical trial management and clinical supply chain design and optimization solutions. BioClinica solutions maximize efficiency and manageability throughout all phases of the clinical trial process. With over 20 years of experience and more than 2,000 successful trials to date, BioClinica has supported the clinical development of many new medicines from early phase trials through final approval. BioClinica operates state-of-the-art, regulatory-body-compliant imaging core labs on two continents, and supports worldwide eClinical and data management services from offices in the United States, Europe and Asia. For more information, please visit www.bioclinica.com

About Mirada Medical

Mirada Medical is a leading international brand in medical imaging. The company develops advanced software applications which help healthcare professionals use medical images more effectively and efficiently to improve cancer care. Mirada’s products are used across diagnostic radiology, molecular imaging, radiation oncology, medical oncology, tumor board and elsewhere.

Mirada specializes in simplifying technically complex image processing tasks, allowing clinicians to more confidently diagnose disease, assess response to treatment and plan radiation therapy or surgical intervention.

Mirada’s advanced software products are available throughout the world under its own brand, and on an OEM basis through a select number of the world’s leading healthcare companies.

Mirada Medical was originally spun out of the University of Oxford. The company’s technologies and products continue to be developed by their team of specialists, engineers and world-renowned scientists at Mirada’s world headquarters in Oxford, England.

Mirada Medical, Mirada XD3, Caseaccess and Casemeeting are all trademarks of Mirada Medical Ltd.

For more information, visit www.mirada-medical.com

Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company’s statements regarding trends in the marketplace and potential future results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the consummation and the successful integration of current and proposed acquisitions, the timing of projects due to the variability in size, scope and duration of projects, estimates and guidance made by management with respect to the Company’s financial results, backlog, critical accounting policies, regulatory delays, clinical study results which lead to reductions or cancellations of projects, and other factors, including general economic conditions and regulatory developments, not within the Company’s control. The factors discussed herein and expressed from time to time in the Company’s filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstance. You should review the Company’s filings, especially risk factors contained in the Form 10-K and the recent Form 10-Q.

Press release: http://hugin.info/143183/R/1598606/504137.pdf

For More Information Please Contact:
BioClinica, Inc.
Company Contact
Jim Dorsey
267-757-3040

Trade Media
Rachel Summers
Diccicco Battista Communications
484-342-3600

Investor Contact
Michael Porter

Financial Media
Bill Gordon
Porter, LeVay & Rose, Inc.
212-564-4700

Mirada Medical
US/Worldwide:
Robert Ripley
(440) 591-8638
Insource Communications
rripley@insourceinc.com

UK Headquarters:
Oxford Center for Innovation
New Road, Oxford
OX1 1BY
United Kingdom
+44(0)1865 261410
enquiries@mirada-medical.com
www.mirada-medical.com

Guanwei Recycling (GPRC) 2011 Net Income Rose 29% on Record Revenues Up 34% Year Over Year

FUQING CITY, CHINA — (Marketwire) — 03/30/12 — Guanwei Recycling Corp. (the “Company”) (NASDAQ: GPRC), China’s leading clean tech manufacturer of recycled low density polyethylene (LDPE), today reported record sales and profits in 2011. Continuing strong domestic demand for the high quality, competitively priced recycled plastic manufactured at its zero discharge facility, also is expected to produce another year of record growth in 2012.

Highlights

• 2011 net revenues increased 34% to a record $63,600,678 from $47,534,645 a year earlier.
• Net income in 2011 grew 29% to a record $12,793,448, or $0.64 per diluted share, compared with $9,927,396, or $0.50 per diluted share in 2010.
• The Company’s annual combined raw material import quota was increased to 99,000 tons in 2011 and 115,000 tons in 2012.
• Production capacity was expanded to 80,000 tons from 65,000 tons.
• Short term debt was paid off and working capital increased at year end to $23.8 million from $13.4 million a year earlier.
• With new equipment and improved facilities, product quality was enhanced while the Company maintained its pricing advantage over virgin plastic.

Volume and Sales Price Increases

Year over year sales of self-manufactured recycled LDPE grew more than 39% to $61,900,588, reflecting increases in sales volume and pricing. Tonnage sales of manufactured recycled LDPE increased 27% from 41,478 tons a year earlier to 52,666 tons in 2011. Average selling prices increased approximately 9.6% from $1,072 per ton a year earlier to $1,175 per ton in 2011. While 2010 revenues included approximately $1.99 million in low margin sales of purchased recycled LDPE to meet customer requirements, there were no such sales in 2011.

Increased Production Capacity

During 2011, the Company continued the construction and expansion of its facilities as well as the replacement of machinery and equipment. Its capital asset expenditure for these improvements and equipment purchases was over $3.8 million. As a consequence of these significant improvements, manufacturing capacity during 2011 was increased from 65,000 tons to 80,000 tons and will continue to be enhanced in the current year.

Expanded Plastic Waste Import Quota

Of additional significance, the Company received government approval in July for expansion of its quota for imported plastic waste, the key raw material needed to manufacture recycled LDPE. In 2011, the annual quota was increased from 24,000 tons to 64,000 tons. When combined with the import quota of 35,000 tons annually which the Company has contracted with another company (Huan Li), its total quota in 2011 was 99,000 tons. For 2012, the Company received approval to increase its quota to 80,000 tons, bringing its combined total quota for the current year to 115,000 tons.

Gross Margin Down Slightly But Above 30%

While gross profit increased approximately 27% year over year in 2011 to $19.48 million, gross margins decreased to 30.64% from 32.20% a year earlier. This primarily was a consequence of an approximately 22% increase in raw material costs. In order to reduce these costs, the Company continues to develop relationships with new suppliers, primarily in Europe. Guanwei’s ability to purchase raw materials directly from European suppliers — reflecting its dedication to meeting the highest pollution and environmental standards — continues to provide the Company with a significant competitive advantage. Additionally, the Company continues to focus on managing operating costs. In 2011, higher raw material costs were partially offset by operating expense increases that were smaller than the growth in revenues.

No Outstanding Borrowings

Shareholders’ equity as of December 31, 2011 increased to approximately $45 million from $34.1 million a year earlier, reflecting among other factors a reduction in short term borrowing to zero from approximately $3.7 million a year earlier and an increase in retained earnings to $28.62 million from $15.84 million in the prior year. Total assets of $45.08 million at year end included cash and cash equivalents of $12.43 million, and accounts receivable of $4.48 million, reflecting an increased use of terms with certain customers. Inventories increased to $16.85 million, from $10.72 million a year earlier, and pre-payments and other assets of $2.10 million as of year end 2011 compared with $475,195 at the end of 2010.

Strong Growth Outlook For 2012

“2011 certainly was another banner year for our Company,” Mr. Chen Min, Chairman and CEO of the Company, commented. He continued, “not only did we see core sales advance nearly 40%, but we continued to maintain gross margins above 30% and generated another strong gain on our bottom line.”

“Further,” he added, “through careful planning and sound execution, we were able to ratchet up our production capacity on a largely self-financed basis, and enter the new year with strong financials and no debt. Additionally, we obtained a substantial increase in our government quota for imported raw material.”

“With these accomplishments,” he stated, “we are confident of another year of record results in 2012. Even with an anticipated slowing in our domestic economy, we have a customer base that is well diversified, and the more than 40% price advantage our recycled plastic offers compared with virgin plastic continues to make it quite attractive.”

“At the same time,” Mr. Chen added, “we hope that in 2012 investor perceptions in the U.S. of Chinese companies such as ours with outstanding track records and continuing strong growth potential will begin to improve, and the patience of our shareholders will begin to be rewarded.”

Conference Call Invitation

The Company will discuss 2011 year end results during a live conference call and webcast on Monday, April 2nd, at 8:00am ET.

To participate in the call, interested participants should call 1-877-941-1427 when calling within the United States or 1-480-629-9664 when calling internationally. Please ask for the Guanwei Recycling Corp. 2011 Year End Conference Call, Conference ID: 4527622. There will be a playback available until 04/09/12. To listen to the playback, please call 1-877-870-5176 when calling within the United States or 1-858-384-5517 when calling internationally. Use the Replay Pin Number: 4527622.

This call is being webcast by ViaVid Broadcasting and can be accessed by clicking on this link http://viavid.net/dce.aspx?sid=00009567 or at ViaVid’s website at www.viavid.net.

Description of Guanwei Recycling Corp.

Guanwei Recycling Corp. is China’s largest manufacturer of recycled low density polyethylene (LDPE). Adhering to the highest “green” standards, it has generated rapid growth producing LDPE from plastic waste procured mostly in Europe for sales to more than 300 customers in ten different industries in China. Guanwei Recycling Corp. is one of the few plastic recyclers in China that has been audited by German authorities, most recently Umweltagentur Erftstadt, for compliance with German pollution and environmental standards. This allows the company to procure high quality plastic waste directly from Germany and other European countries (Spain and Holland), with no middlemen, and permits highly economic production of the highest grades of LDPE. Additional information regarding Guanwei Recycling Corp. is available at www.guanweirecycling.com.

Information Regarding Forward-Looking Statements

Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission.

                          GUANWEI RECYCLING CORP.
         CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
                        (Expressed in U.S. dollars)

                                                Year Ended December 31,
                                            -------------------------------
                                                 2011              2010
                                            --------------    -------------

Net Revenue                                 $   63,600,678    $  47,534,645

Cost of Revenue                                 44,111,700       32,179,321
                                            --------------    -------------
  Gross profit                                  19,488,978       15,355,324
                                            --------------    -------------

Operating expenses:
Selling and marketing expenses                     398,513          346,409
General and administrative expenses              1,903,062        1,568,653
Income from operations                          17,187,403       13,440,262

Other income (expenses):
Interest income                                     88,249           28,704
Interest expenses                                  (29,083)         (85,474)
Income before income taxes                      17,246,569       13,383,492

Income taxes                                     4,453,121        3,456,096

Net income                                  $   12,793,448    $   9,927,396

Comprehensive Income:

Net income                                  $   12,793,448    $   9,927,396

Other comprehensive income
- Foreign currency translation
 adjustments                                     1,067,008          488,683

Comprehensive income                        $   13,860,456    $  10,416,079

Earnings per share attributable to
 shareholders of Guanwei Recycling Corp.
  - basic and diluted                       $         0.64    $        0.50
                                            ==============    =============
  Weighted average number of shares of
   common stock used in computing basic
   and diluted earnings per share               20,000,006       20,000,006
                                            ==============    =============

                           GUANWEI RECYCLING CORP.
                         CONSOLIDATED BALANCE SHEETS
                         (Expressed in U.S. dollars)

                                                   As of December 31,
                                           ---------------------------------
                                                 2011              2010
                                           ---------------   ---------------
ASSETS:

Current assets:
Cash and cash equivalents                  $    12,432,803   $    14,940,236
Restricted cash                                          -         2,280,398
Accounts receivable                              4,475,386             9,106
Account due from director                            1,290             1,290
Prepayments and other current assets             2,103,059           473,905
Inventories                                     16,858,801        10,721,765
Total current assets                            35,871,339        28,426,700

Property, plant and equipment, net               8,151,012         4,894,141
Construction in progress                           174,295                 -
Land use right, net                                673,762           660,941
  Others                                           205,437           201,579
                                           ---------------   ---------------
  Total Assets                             $    45,075,845   $    34,183,361
                                           ===============   ===============

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:
Short term borrowings                      $             -   $     3,716,377
Accounts payable                                 8,741,822         8,812,940
Accrued expenses and other payables                714,072           721,569
Amount due to shareholder                        1,468,167           905,615
Income tax payable                               1,144,516           880,048
Total current liabilities                       12,068,577        15,036,549

Commitments and contingencies                            -                 -

Equity:
Shareholders' equity:
Common stock, $0.001 par value,
 500,000,000 shares authorized,
 20,000,006 shares issued and
 outstanding                                        20,000            20,000
Additional paid-in capital                       1,290,028         1,290,028
PRC statutory reserves                             805,483           805,483
Retained earnings                               28,629,076        15,835,628
Accumulated other comprehensive income           2,262,681         1,195,673
Total Shareholders' equity                      33,007,268        19,146,812

  Total liabilities and shareholders'
   equity                                  $    45,075,845   $    34,183,361
                                           ===============   ===============

                          GUANWEI RECYCLING CORP.
                   CONSOLIDATED STATEMENTS OF CASH FLOWS
                        (Expressed in U.S. dollars)

                                                 Year Ended December 31,
                                              -----------------------------
                                                   2011            2010
                                              -------------    ------------

Cash flows from operating activities:
Net income                                    $  12,793,448    $  9,927,396

Adjustments to reconcile net income to net
 cash provided by operating activities
Depreciation of property, plant and
 equipment                                          600,065         438,563
Amortization of land use right                       15,070          14,389
Loss on disposal of property, plant and
 equipment                                           72,174           2,472
Bad debt                                                 98               -

Changes in operating assets and
 liabilities:
Accounts receivable                              (4,395,346)          4,795
Prepayments and other current assets             (1,586,462)        (36,185)
Inventories                                      (8,370,973)     (3,763,939)
Other assets                                          4,648               -
Accounts payable                                  2,340,991          13,364
Accrued expenses and other payables                 (35,833)        252,227
Income tax payable                                  223,415         391,517
Net cash provided by operating activities         1,661,295       7,244,599

Cash flows from investing activities:
Decrease (increase) in restricted cash            2,339,860      (2,266,980)
Purchase of property, plant and equipment        (3,847,657)       (584,467)
Proceeds from disposal of property, plant
 and equipment                                        3,563           5,948
Net cash used for investing activities           (1,504,234)     (2,845,499)

Cash flows from financing activities:
Advance from shareholder                            562,552         620,940
New bank borrowings                                       -       3,659,235
Repayment of bank borrowings                     (3,813,283)     (1,420,767)
Net cash flows (used for) provided by
 financing activities                            (3,250,731)      2,859,408

Effect of exchange rate change on cash and
 cash equivalents                                   586,237         379,519

Net (decrease) increase in cash and cash
 equivalents                                     (2,507,433)      7,638,027

Cash and cash equivalents at the beginning
 of year                                         14,940,236       7,302,209
Cash and cash equivalents at the end of
 year                                         $  12,432,803    $ 14,940,236

Supplemental disclosure of cash flow
 information:
  Interest received                           $      88,249    $     28,659
                                              =============    ============
  Interest paid                               $      29,083    $     85,215
                                              =============    ============
  Income taxes paid                           $   4,229,706    $  3,064,578
                                              =============    ============

US Contact:

Ken Donenfeld
DGI Investor Relations
kdonenfeld@dgiir.com
Tel: 212-425-5700
Fax: 646-381-9727

AdCare Health Systems (ADK) Closes $4.1 Million Public Offering of Common Stock

SPRINGFIELD, OH — (Marketwire) — 03/30/12 — AdCare Health Systems, Inc. (NYSE Amex: ADK) announced today that it completed its previously announced firm commitment underwritten offering of 1,100,000 shares of AdCare’s common stock at a price per share to the public of $3.75, for an aggregate offering amount of approximately $4.1 million. The net proceeds from the offering, after underwriting discounts and commissions and other offering expenses, are approximately $3.7 million. AdCare intends to use the net proceeds from the offering for working capital and other general corporate purposes.

Noble Financial Capital Markets acted as sole underwriter for the offering.

All conditions to the closing of the offering were satisfied.

The shares of common stock described above were offered pursuant to AdCare’s existing effective shelf registration statement that was previously filed with the Securities and Exchange Commission and declared effective on June 27, 2011. A final prospectus supplement relating to the offering was filed with the Securities and Exchange Commission on March 27, 2012. Copies of the final prospectus supplement and the accompanying prospectus may be obtained from Noble Financial Capital Markets, 951 Yamato Road, Suite 210, Boca Raton, Florida 33431, telephone (561) 994-1191.

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

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

Important Cautions Regarding Forward-Looking Statements
Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of federal law. Such statements can be identified by the use of forward-looking terminology, such as “believes,” “expects,” “plans,” “intends,” “anticipates” and variations of such words or similar expressions, but their absence does not mean that the statement is not forward-looking. Such forward-looking statements reflect management’s beliefs and assumptions and are based upon information currently available to management and involve known and unknown risks, results, performance or achievements of AdCare, which may differ materially from those expressed or implied in such statements. Such factors are identified in the public filings made by AdCare with the Securities and Exchange Commission and include, among others, AdCare’s ability to secure lines of credit and/or an acquisition credit facility, find suitable acquisition properties at favorable terms, changes in the health care industry because of political and economic influences, changes in regulations governing the health care industry, changes in reimbursement levels including those under the Medicare and Medicaid programs and changes in the competitive marketplace. There is no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements. Except where required by law, AdCare undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.

References to the consolidated company and its assets and activities, as well as the use of terms such as “we,” “us,” “our,” and similar verbiage, is not meant to imply that AdCare Health Systems, Inc. has direct operating assets, employees or revenue or that any of the facilities, the home health business or other related businesses are operated by the same entity.

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Company Contacts
Boyd Gentry, CEO
Chris Brogdon, Vice Chairman & CAO
David A. Tenwick, Chairman of Board
AdCare Health Systems, Inc.
Tel (937) 964-8974
Email Contact

Investor Relations
Ron Both or Geoffrey Plank
Liolios Group, Inc.
Tel (949) 574-3860
Email Contact

Uranium Energy (UEC) Closes Acquisition of Cue Resources Ltd.

CORPUS CHRISTI, TX, March 30, 2012 /PRNewswire/ – Uranium Energy Corp (“UEC” or the “Company”) (NYSE-AMEX: UEC) and CUE Resources Ltd. (“CUE”) (TSX-V: CUE) are pleased to announce that UEC’s acquisition of CUE by way of a plan of arrangement (the “Transaction”) has closed, effective at 12:01 am on March 30, 2012. Following the completion of the Transaction, CUE is now a wholly-owned subsidiary of UEC. In connection with the Transaction, UEC will issue 2,345,926 UEC common shares to former CUE shareholders as well as 171,303 UEC shares to settle certain debts of CUE. CUE, through its wholly-owned subsidiary, held an undivided 100% legal and beneficial interest in and to certain concession contracts covering a 230,650-hectare uranium exploration property located in southeastern Paraguay known as the Yuty ISR Project. See the Company’s news release dated January 23, 2012 for additional information on the now completed plan of arrangement.

President and CEO Amir Adnani stated, “Given the proximity of the Yuty project to our Coronel Oviedo property, this transaction enables clear operational synergies and allows us to consider implementing the hub-and-spoke production strategy we have successfully deployed in South Texas. We believe that Paraguay is host to a highly prospective, large-scale ISR-amenable uranium district with mineralization that is very similar to that of South Texas. In addition, consistent with other recent UEC project acquisitions, we have acquired an asset with an extensive defined resource at an attractive price. Given the 11-million pound total resource at Yuty, the Company now has both an exploration and development focus in this business-oriented, stable country. We’re excited about the opportunities that lie ahead.”

Dundee Securities Ltd. acted as financial advisor to UEC in connection with the Transaction.

The Yuty ISR Project

The Yuty ISR Project covers 230,650 hectares and is located approximately 200 kilometers east and southeast of Asunción, the capital of Paraguay. It is located within the Paraná Basin, which is host to a number of known uranium deposits, including Figueira and Amorinópolis in Brazil. Preliminary studies indicate amenability to extraction by in situ recovery (ISR) methods, which is the same process currently used by UEC at its South Texas operations. CUE has spent over CAD$16 million developing Yuty since 2006.

Between 2007 and 2010, CUE completed 256 drill holes totaling 31,000 meters of core and rotary drilling and acquired a 100% interest in the Yuty Project. The current resource for the Yuty Project was finalized in a technical report prepared for CUE titled “Updated Technical Report on the Yuty Uranium Project, Republic of Paraguay” dated August 24, 2011 (the “Yuty Technical Report”). The Yuty Technical Report shows an average grade and resource at the Yuty Project as follows:

Measured Resource 2.054M tonnes @ 0.062 % eU3O8 containing 2.801M lbs eU3O8
Indicated Resource 5.783M tonnes @ 0.048 % eU3O8 containing 6.113M lbs eU3O8
Inferred Resource 2.139M tonnes @ 0.047 % eU3O8 containing 2.226M lbs eU3O8

The technical information in this news release was prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and is extracted from the Yuty Technical Report, which is filed on CUE’s SEDAR profile and is available for viewing at www.sedar.com. The technical information in this news release and the Yuty Technical Report have been reviewed by Clyde L. Yancey, P.G., Vice President of Exploration for UEC, being a qualified person as defined by NI 43-101. To the best of UEC’s knowledge, information, and belief, there is no new material scientific or technical information that would make the disclosure of the mineral resources contained in this news release inaccurate or misleading.

About Uranium Energy Corp.:

Uranium Energy Corp. is a U.S.-based uranium production, development and exploration company operating North America’s newest emerging uranium mine. UEC’s fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, including the Palangana in-situ recovery project, which is ramping up initial production, and the Goliad in-situ recovery project which has been granted its Mine Permit and is in the initial stages of mine construction. UEC’s operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining. For detailed information visit UEC’s web site at www.uraniumenergy.com.

Notice to U.S. Investors

The mineral resources referred to herein have been estimated in accordance with the definition standards on mineral resources of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in NI 43-101 and are not compliant with U.S. Securities and Exchange Commission (the “SEC”) Industry Guide 7 guidelines. In addition, measured mineral resources, indicated mineral resources and inferred mineral resources, while recognized and required by Canadian regulations, are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. Accordingly, we have not reported them in the United States. Investors are cautioned not to assume that any part or all of the mineral resources in these categories will ever be converted into mineral reserves. These terms have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. In particular, it should be noted that mineral resources which are not mineral reserves do not have demonstrated economic viability. It cannot be assumed that all or any part of measured mineral resources, indicated mineral resources or inferred mineral resources will ever be upgraded to a higher category. In accordance with Canadian rules, estimates of inferred mineral resources cannot form the basis of feasibility or other economic studies. Investors are cautioned not to assume that any part of the reported measured mineral resources, indicated mineral resources or inferred mineral resources referred to in this news release are economically or legally mineable.

Safe Harbor Statement

Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

Investor Relations, Uranium Energy Corp:
Toll Free: (866) 748-1030
Fax: (361) 888-5041
E-mail: info@uraniumenergy.com

Cleantech Solutions International (CLNT) Reports Fourth Quarter and Fiscal Year 2011 Results

WUXI, China, March 29, 2012 /PRNewswire-Asia-FirstCall/ — Cleantech Solutions International, Inc. (“Cleantech Solutions” or “the Company”) (NASDAQ: CLNT), a manufacturer of metal components and assemblies, primarily used in the wind power, solar, dyeing and finishing equipment and other clean technology industries, today announced its financial results for the three months and fiscal year ended December 31, 2011.

“During the fourth quarter, we continued to face challenging market conditions and pricing environment for our forged rolled rings and related products resulting in lower sales volume and profitability. However, in our dyeing and finishing equipment segment, we experienced a 17.6% increase in net revenue compared to the third quarter of 2011 largely due to increased sales of our new higher margin air flow dyeing machines,” commented Mr. Jianhua Wu, Chairman and Chief Executive Officer of China Wind Systems.

“In 2011, we focused our efforts in exploring new clean technology markets to leverage our experience in the wind industry. Our ability to utilize our technical knowledge to manufacture and market solar components has marked our entry into the solar products market. At fiscal year end, we had a backlog of $1.3 million in solar products, LED equipment and other sample orders. We hope to make additional progress in 2012 and expand our presence in the solar and LED industry,” Mr. Wu concluded.

Fourth Quarter 2011 Results

Revenue for the fourth quarter of 2011 declined 38.9% to $13.7 million, compared to $22.5 million for the same period of 2010. The decline in revenue was mainly attributable to slowdown in demand for forged products and increase in overall competition in the forged product market as industry capacity has increased. On a quarter on quarter basis, revenue increased 17.6% in the fourth quarter of 2011 compared to the third quarter of 2011 as a result of stronger sales of the Company’s new air flow dyeing equipment.

Revenue from the sale of forged rolled rings to the wind power industry and other industries decreased 52.4% to $8.1 million, or 59.1% of net revenue, compared to $17.0 million, or 75.8% of net revenue, in the same period last year. The decrease is summarized as follows:

• Revenue from the sale of forged rolled rings exclusively to the wind power industry fell 59.9% to $4.8 million, representing 35.2% of net revenue, compared to $12.1 million, or 53.6% of net revenue, in the comparable period last year.
• Revenue from the sale of forged rolled rings to other industries decreased 34.1% to $3.3 million, or 23.9% of net revenue, compared with $5.0 million, or 22.1% of net revenue for the comparable period of the prior year.

Revenue from the Company’s dyeing and finishing equipment segment increased 3.2% to $5.6 million, or 40.9% of net revenues, compared to $5.4 million, or 24.2% of net revenue, for the fourth quarter of 2010. On a quarter on quarter basis, revenue from the dyeing and finishing equipment segment increased 38.0%, as customers purchased the Company’s new airflow dye machines designed to meet the PRC government’s mandatory environmental protection policies.

Gross profit for the fourth quarter of 2011 decreased 49.7% to $3.1 million, compared to $6.1 million for the same period in 2010. Gross margin decreased to 22.4% during the fourth quarter of 2011 compared to 27.2% for the same period a year ago. The decline in gross margin was attributable to the forged rolled rings and related products segment, and was primarily due to an increase in the cost of raw materials, which could not be fully passed on to the Company’s customers, and lower operational and cost efficiencies, including the allocation of fixed costs such as depreciation to cost of revenues as the Company operated at lower production levels, offsetting a modest increase in the gross margin for the dyeing and finishing equipment segment.

Operating expenses increased 10.3% to $1.8 million, compared to $1.7 million in the comparable period last year. The increase was primarily due to the recording of additional depreciation expense related to the Company’s ESR line in the fourth quarter of 2011 as compared to the second and third quarter of 2011.

Operating income decreased 72.3% to $1.2 million, compared to $4.4 million for the same period of 2010. Operating margin was 8.9% compared to 19.7% in the fourth quarter last year.

Earnings before interest, taxes, depreciation and amortization (EBITDA), a non-GAAP measurement, was $3.0 million, compared to $5.5 million in the same quarter last year.

Net income for the fourth quarter of 2011 decreased 74.8% to $0.8 million, compared to $3.1 million in the comparable period last year. Basic earnings per share in 2011 and 2010 were $0.39 and $1.69, respectively. Basic earnings per share were calculated using basic weighted average shares of 2,036,680 and 1,849,333 for the three months ended December 31, 2011 and 2010, respectively. Diluted earnings per share were $0.31, compared to $1.29 in the same period of 2010. Diluted earnings per share were calculated using diluted weighted average shares of 2,553,213 and 2,428,510 for the three months ended December 31, 2011 and December 31, 2010, respectively. Earnings per share and weighted average share amounts have been adjusted to reflect a one-for-ten reverse stock split effective March 6, 2012.

Fiscal Year 2011 Financial Results

For 2011, revenues decreased 30.1% to $55.6 million from $79.5 million in 2010. Gross profit decreased 36.4% to $13.3 million, compared to $20.9 million last year. Gross margin for 2011 was 23.9%, compared to 26.3% in 2010. Gross margin for the forged rolled rings segment was 24.8% compared to 28.2% in 2010. For the dyeing and finishing equipment segment, gross margin was 22.1% compared to 20.9% in 2010. Operating income decreased 47.2% to $8.2 million from $15.5 million in 2010. EBITDA, a non-GAAP measurement, was $13.7 million, compared to $18.8 million in the same period last year. Net income was $5.8 million, a 48.0% decrease from $11.1 million last year. Basic earnings per share for 2011 and 2010 were $2.94 and $6.19, respectively. Diluted earnings per share were $2.30 and $4.36, respectively. Earnings per share amounts have been adjusted to reflect a one-for-ten reverse stock split effective March 6, 2012.

Financial Condition

As of December 31, 2011, Cleantech Solutions held cash and cash equivalents of $1.2 million, an increase from $0.9 million at December 31, 2010. Accounts receivable were $7.1 million and total current assets of $14.7 million. The Company had $2.4 million in short-term loans payable and stockholders’ equity was $71.8 million. In fiscal year 2011, the Company generated $10.4 million in cash flow from operations.

Subsequent Events

On March 14, 2012, the Company appointed Wanfen Xu as chief financial officer. Ms. Xu has been served in various positions, most recently as the financial controller of the Company’s electrical and dying variable interest entities whose financial statements are included in the Company’s consolidated financial statements, since 2000.

On February 15, 2012, the Company delivered two units of sample sapphire chambers and one unit of a solar furnace to its international customer.

Business Outlook

Cleantech Solutions anticipates demand for forged products in the wind industry to remain soft in the short term as a result of increased competition and pricing pressure. However, the Company expects demand for forged products in the wind industry in China will continue to grow in the long term. The Chinese government’s twelfth Five-Year Plan, reflects the government’s continued commitment to wind power development, with a target of building an additional 90 GW of wind energy by 2015.

The Company plans to continue to build on its technical expertise to seek to further diversify its business into the clean technology industry in 2012. The Company expects the increase in sales from the new airflow dyeing machines and new orders from its solar and LED customers to help offset the continued softness in the traditional forged rolls rings segment.

Mr. Wu concluded, “We will continue to seek to develop new technology and expertise in the clean energy segment in order to manufacture higher margin and environmentally friendly products. Following the recent completion of sample LED and solar orders, we expect our customer to place additional orders for sapphire chambers and solar furnaces in the future. We anticipate increasing revenue contribution from these new sectors in 2012 and beyond.”

Conference Call

Cleantech Solutions will conduct a conference call at 9:00 a.m. Eastern Time on Thursday, March 29, 2012 to discuss results for the fourth quarter and fiscal year 2011.

To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: (866) 759-2078. International callers should dial (706) 643-0585. When prompted, please enter conference passcode: 65422151.

If you are unable to participate in the conference call at this time, a replay will be available for 14 days starting on March 29, 2012 at 10:00 a.m. ET. To access the replay, dial (855) 859-2056. International callers dial (404) 537-3406, and enter passcode: 65422151.

Use of Non-GAAP Financial Measures

The Company has included in this press release certain non-GAAP financial measures. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing the performance of the Company and when planning and forecasting future periods. Readers are cautioned not to view non-GAAP financial measures on a stand-alone basis or as a substitute for GAAP measures, or as being comparable to results reported or forecasted by other companies, and should refer to the reconciliation of GAAP measures with non-GAAP measures also included herein.

About Cleantech Solutions International

Cleantech Solutions is a manufacturer of metal components and assemblies, primarily used in clean technology industries. The Company supplies forging products, fabricated products and machining services to a range of clean technology customers, primarily in the wind power sector and supplies dyeing and finishing equipment to the textile industry. Cleantech Solutions is committed to achieving long-term growth through ongoing technological improvement, capacity expansion, and the development of a strong customer base. The Company’s website is www.cleantechsolutionsinternational.com. Any information on the Company’s website or any other website is not a part of this press release.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary and affiliated companies. These forward looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website, including factors described in “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K for the year ended December 31, 2011. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

Company Contact:

Mr. Ryan Hua
Vice President of Operations
Cleantech Solutions International, Inc.
Email: ryanhua@cleantechsolutionsinternational.com
Web: www.cleantechsolutionsinternational.com

Investor Relations Contact:

Ms. Elaine Ketchmere
CCG Investor Relations
Tel: +1-310-954-1345
Email: elaine.ketchmere@ccgir.com
Web: www.ccgirasia.com

– Financial Tables Follow-

SOURCE Cleantech Solutions International, Inc.

Crimson Exploration (CXPO) Announces Woodbine Oil Discovery in Madison County, Texas

Crimson Exploration Inc. (NasdaqGM: CXPO) announced today the successful completion of the Mosley #1H (84.3% WI), its first horizontal Woodbine oil well in Madison County, Texas, at a gross initial production rate of 1,203 Boepd, or 1,017 barrels of oil, 87 barrels of natural gas liquids and 595 mcf, on a 30/64^th choke and 601 psi of tubing pressure. The well was drilled to a total measured depth of 15,650 feet, including a 6,300 foot lateral, and was completed using 23 stages of fracture stimulation.

Additionally, Crimson is actively drilling two horizontal wells targeting the Woodbine formation in Madison County, the Grace Hall #1H (82.4% WI) and the Vick Trust #1H (75% WI). The Grace Hall #1H, located approximately 1.2 miles north of the Mosley #1H, has reached a total measured depth of 16,000 feet, including a 7,500 foot lateral, and the Vick Trust #1H, located approximately 6 miles east of the Mosley #1H, is currently drilling at 11,469 feet toward a total measured depth of 15,200 feet, including an estimated 6,500 foot lateral. Both wells are expected to be completed with 20 – 25 stages of fracture stimulation. Production from these wells is anticipated to commence mid-second quarter. Upon completion of the drilling of the Vick Trust #1H, Crimson will move that rig to the A. Yates #1H (50% WI) location.

The Woodbine formation is a Cretaceous aged series of sandstones and siltstones that reside within the prolific Eagle Ford source rock and is generally described as being between the overlying Austin Chalk formation and the underlying Buda formation. The productive Woodbine sands in the Madison and Grimes County area are a lower porosity and permeability extension of the prolific 100 Mmbo Kurten Field in adjacent Brazos County. Previous to the current horizontal drilling and multi-stage frac completions, the Woodbine was developed through conventional vertical completions. The lower porosity and permeability in Madison and Grimes counties had a significant negative impact on initial rates and recoveries from these vertical completions; however, with the advent of horizontal drilling and multi-stage frac completions, a 10 – 20 fold increase in rates and recoveries are recognized. Crimson recognizes that this newer technology can also be applied to other formations that have historically low volumes associated with vertical or open hole horizontal completions, specifically the Austin Chalk, Buda, Georgetown, Glenrose and the other multiple sand lobes within the Woodbine formation.

Crimson has approximately 17,500 net acres in Madison and Grimes counties, Texas. Expectations are that this area will deliver a multi-year inventory of impactful and superior rate of return projects which will contribute significantly to Crimson’s growth story. Crimson has a total of 9 wells planned for Madison and Grimes counties in 2012 and could easily expand that number with continued success. The net initial rate from the Mosley well represents a 28% increase in Crimson’s current daily net oil production rate, illustrating the significant impact this drilling program provides. Overall, the Company believes that the estimated net potential, in the Woodbine alone, ranges between 30 – 40 Mmboe on the Crimson leasehold.

The Mosley’s initial production rate places it in the top of its class of wells drilled to date in the area. The chart shows an average initial production rate of 679 Boepd from 46 horizontal Woodbine wells drilled in Madison, Brazos, and Grimes counties since January 2009. The high average initial production performance of the offset wells demonstrates that this area is a repeatable and very economic source of oil production growth.

Allan D. Keel, President and Chief Executive Officer, commented, “We are very pleased with the results of the Mosley #1H and believe this success validates the quality of Crimson’s position in the Madison and Grimes County area where we own approximately 17,500 net acres. We believe that recent drilling successes, and sale transactions immediately offsetting our acreage position in this area, implies the Woodbine represents current incremental value of $5 per share for the Company’s shareholders, and could be worth two to three times that as we continue to develop the Woodbine. This estimated value also does not include additional value that could come from successful development of the Georgetown, Eagle Ford and other objectives believed to be prospective in the area. The coming months will be an exciting time for Crimson as we continue to pursue our plan for this area. We remain very optimistic that the increased cash flow attributed to our oil production in the Woodbine will begin to be reflected in shareholder value.”

Crimson Exploration is a Houston, TX-based independent energy company engaged in the acquisition, development, exploitation and production of crude oil and natural gas, primarily in the onshore Gulf Coast regions of the United States. The Company owns and operates approximately 74,000 acres of conventional properties in Texas, Louisiana, Colorado and Mississippi, approximately 5,700 net acres in the Haynesville Shale, Mid-Bossier, and James Lime plays in San Augustine and Sabine counties in East Texas, approximately 8,625 net acres in the Eagle Ford Shale in South Texas, approximately 17,500 net acres in Madison and Grimes counties in Southeast Texas and approximately 11,000 net acres in the Denver Julesburg Basin of Colorado.

Additional information on Crimson Exploration Inc. is available on the Company’s website at http://crimsonexploration.com.

This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission (“SEC”) and applicable securities laws. Such statements include those concerning Crimson’s strategic plans, expectations and objectives for future operations. All statements included in this press release that address activities, events or developments that Crimson expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions Crimson made based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond Crimson’s control. Statements regarding future production, revenue, cash flow operating results, leverage, drilling rigs operating, drilling locations, funding, derivative transactions, pricing, operating costs and capital spending, tax rates, and descriptions of our development plans are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas. These risks include, but are not limited to, commodity price changes, inflation or lack of availability of goods and services, environmental risks, the proximity to and capacity of transportation facilities, the timing of planned capital expenditures, uncertainties in estimating reserves and forecasting production results, operating and drilling risks, regulatory changes and the potential lack of capital resources. All forward-looking statements are based on our forecasts for our existing operations and do not include the potential impact of any future acquisitions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Please refer to our filings with the SEC, including our Form 10-K for the year ended December 31, 2011, and subsequent filings for a further discussion of these risks. Existing and prospective investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

Deer Consumer Products (DEER) Announces Record 2011 Financial Results; Provides 2012 Growth Outlook

Deer Consumer Products, Inc. (Nasdaq: DEER) (website: http://www.deerinc.com/), a leading provider of “DEER” branded household consumer products to Chinese consumers and a leading vertically integrated manufacturer of small household and kitchen appliances for global customers, announces today record financial results for the year ended December 31, 2011.

2011 REVENUE

2011 revenue was $226.7 million, an increase of $50.9 million, or 28.9%, from $175.8 million in 2010. Approximately 68% of our sales in 2011 were generated from the China domestic market while approximately 32% were from export markets. The increase in revenues was a result of our sales expansion in the China domestic market of our Deer branded product lines. We were also able to raise the average selling prices of our products and maintained healthy profit margins across our product lines.

2011 GROSS PROFIT MARGIN

2011 gross profit margin was approximately 30.6%, which reflects blended profit margins between our higher margin China domestic sales and generally lower margin export sales as well as an increase in the average selling prices of our products. In addition, we are continuing to improve the efficiency of our manufacturing operations by producing key components of our products in house, allowing us to benefit further from economies of scale and achieve improved manufacturing margins.

2011 OPERATING EXPENSES

2011 SG&A expenses were $21.0 million, an increase of $7.3 million, or 52.9%, from $13.7 million in 2010, as expected, due to the hiring of additional direct sales staff and in-store product promoters to further our revenue growth in China. As expected, our advertising costs remained minimal in 2011 because we use factory representatives and in-store promoters to promote our products directly to consumers at retail locations, a standard marketing practice in the small household appliances industry in China. The in-store promotion approach is highly effective in marketing products directly to consumers in the unique Chinese retail environment as compared to traditional mass media advertising channels, which can cause significant advertising expenses without enhancing sales. According to a survey in the 2010 China Small Electronics Market Research Report, approximately 60% of Chinese consumers surveyed purchased small household appliances after being introduced to the product by in-store promoters. Like other established domestic brands in China, our in-store promoters market our products exclusively and directly to in-store customer traffic.

2011 NET INCOME

2011 net income was $39.8 million, an increase of 31% from 2010. Fully diluted earnings per share were $1.18, an EPS increase of 31% from 2010.

$5.52 PER SHARE IN NET ASSETS, STRONG BALANCE SHEET, NO LONG-TERM DEBTS

Deer’s shareholders’ equity increased to approximately $185.4 million, or $5.52 per share in net assets. Deer had more than $13.9 million in cash and equivalents at the end of the 2011 without any long-term debts. Deer has sufficient cash on hand to meet its liquidity requirements and has no plan to dilute our shareholders.

MANAGEMENT COMMENTS ON 2011 FINANCIAL RESULTS

Bill He, Chairman & CEO of Deer, commented: “Deer is pleased to report record 2011 financial results. In 2010, Deer entered China’s domestic markets with a strong push by putting our ‘DEER’ branded products on the shelves of retail locations across China. In 2011, Deer is continuing to expand its store presence across China while adding in-store promotional staff to further enhance sales. Deer currently has access to approximately 4,000 retail locations across China and has developed a well-recognized brand by working with various retail channels.

“We believe China remains the world’s largest and fastest growing consumer retail market and has strong domestic demand for small household appliances. There are approximately 35,000 retail locations across China that Deer could potentially penetrate. Deer has significant growth potential in China.”

CHINA DOMESTIC MARKET EXPANSION STRATEGIES

“Due to the unique retail environment in China, where more than 60% of consumers purchase small household products as a result of direct marketing push by in-store promotional staff, we will have significantly more in-store promotional staff in 2012, that will exclusively market ‘DEER’ branded products directly to end consumers. Deer is considered a strategic platform for entering the local Chinese market, and has built up a strong ‘DEER’ brand through its expansion in the Chinese market.

“Chinese consumers have experienced relatively strong positive real income growth in recent years. We believe the rising standards of living will result in increased demand for quality consumer goods, such as small appliances. We plan to fully take advantage of this market opportunity by targeting our high quality products to these growing middle income Chinese consumers and providing exceptional customer service.

“We expect higher gross margins over time due to an anticipated greater percentage of our overall blended revenue being derived from the higher margin China domestic markets. We believe that we will be able to manage SG&A growth along with our significant revenue growth to maintain and enhance net profit margins.”

GROWTH STRATEGIES

“In the short-term, we will continue building the solid reputation of our ‘DEER’ branded products to be the number one food preparation appliances brand by 2013. We also plan to focus sales of our high margin products, including our dehumidifier, vacuum cleaner, water filters and air purifier, to first and second tier Chinese cities that are experiencing strong economic growth.

“Over the course of the coming quarters, we plan to position ourselves as a high-end innovative brand in China and expand our ‘DEER’ brand to include complete integrated household appliance systems for the kitchen and bathroom.

“We have also made significant progress on our Wuhu manufacturing plant facility, by breaking ground to complete our new manufacturing plant. We are pleased with our construction progress.”

AFFIRMS 2012 FINANCIAL GUIDANCE

In 2012, Deer anticipates revenues from the high margin China domestic sales will continue to surpass export sales. Deer provides 2012 revenue guidance of between $270 and $290 million, net income guidance of between $45 million and $47 million, and targets EPS (Earnings per Share) between $1.37 and $1.42.

3-YEAR INSIDER SHARE LOCKUP, TOTAL MANAGEMENT COMMITMENT

As disclosed previously, Deer’s entire management team has voluntarily entered into 3-year share lockup agreements, which prohibit them from selling any shares to the general public through at least 2013. The lockup agreements represent approximately 47% of Deer’s entire outstanding shares. Deer management’s vested interests are aligned with those of Deer’s public shareholders. Deer has been led by its original founders since the inception of its operating business 17 years ago.

Deer Consumer Products, Inc. is a NASDAQ Global Select Market listed U.S. company with its primary operations in China. Deer has a 17-year operating business as well as a strong balance sheet. Operated by Deer’s founders and supported by more than 100 patents, trademarks, copyrights and approximately 1,000 staff, Deer is a leading provider of “DEER” branded consumer products to Chinese consumers and a leading vertically integrated manufacturer of small home and kitchen appliances for global customers. DEER’s product lines include a series of small household and kitchen appliances as well as personal care products designed to make modern lifestyles easier and healthier.

Safe Harbor Statement

All statements in this press release that are not historical are forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company’s expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Deer’s current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Deer’s filings with the Securities and Exchange Commission.

Corporate Contact:
Helen Wang, President
Deer Consumer Products, Inc.
Tel: 011-86-755-86028300
Email: investors@deerinc.com

SOURCE Deer Consumer Products, Inc.

American DG Energy (ADGE) Announces $1.6 Million Private Placement

WALTHAM, Mass., March 27, 2012 /PRNewswire/ — American DG Energy Inc. (NYSE Amex: ADGE), a leading On‑Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, today announced that it has entered into a definitive agreement to sell restricted common stock for aggregate proceeds of $1,600,000 to Dr. Phillip Frost through one of his trusts.

Pursuant to the agreement, the Company sold to Dr. Frost 1,000,000 shares of restricted Common Stock at $1.60 per share at an aggregate purchase price of $1,600,000. The proceeds of the private placement will be used to fund additional installations of the Company’s On-Site Utility energy systems and for general corporate and working capital purposes.

This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any state. The securities to be offered have not been registered under the Securities Act of 1933 (the “Securities Act”) or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state securities laws.

About American DG Energy

American DG Energy supplies low-cost energy to its customers through distributed power generating systems. The Company is committed to providing institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by local utilities – without any capital or start-up costs to the energy user – through its On-Site Utility energy solutions. American DG Energy is headquartered in Waltham, Massachusetts. More information can be found at www.americandg.com.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Company’s website and in Securities and Exchange Commission filings. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.