Vringo Receives Notice of Allowance for First International Patent

NEW YORK, Feb. 22, 2012 /PRNewswire/ — Vringo, Inc. (NYSE Amex: VRNG), a provider of software platforms for mobile social and video applications, today announced that it has received a notice of allowance from the European Patent Office (EPO) for the company’s first international patent covering aspects of its mobile video and mobile personalization technologies.

Vringo’s notice of allowance from the EPO relates to the expansion of patent no. 8,041,401 issued by the United States Patent and Trademark Office, entitled “Personalization Content Sharing System and Method.” This international patent, when granted by the EPO, will have potential jurisdiction in approximately 39 countries in the EU.

“We are extremely pleased to have received our first International notice of allowance, which we anticipate will result in our first issued patent outside of the United States,” said Andrew Perlman President of Vringo. “Our technology seeks to significantly enhance the core functionality that is at the heart of all cell phones – the phone call itself. Vringo believes this patent will provide additional protection for our video ringtone intellectual property and our other applications for personalizing the mobile experience for our loyal customers world-wide. We believe this patent will provide us with a competitive advantage as we continue to expand our core mobile video technology in Europe and emerging markets around the globe.”

Vringo developed its core intellectual property and started filing its initial patent applications approximately six years ago, before much of the world was aware of the vast market potential for mobile applications. Since its inception, Vringo has filed over 20 patent applications in the U.S. and around the world.

Vringo’s three previously issued patents are U.S. Patent No. 8,041,401, issued on October 18, 2011, U.S. Patent No. 7,761,816, issued on July 20, 2010, and U.S. Patent No. 7,877,746, issued on January 25, 2011. These patents cover the core features of Vringo’s video ringtone sharing capabilities, and the personalization of standard compiled and signed software application downloads.

Vringo expects the EPO will issue the patent in the next 6 months. The patent will expire no earlier than January of 2027.

About Vringo
Vringo (NYSE Amex: VRNG) is a provider of software platforms for mobile social and video applications. With its award-winning video ringtone application and other mobile software platforms – including Facetones™, Video Remix and Fan Loyalty – Vringo transforms the basic act of making and receiving mobile phone calls into a highly visual, social experience. Vringo’s video ringtone service enables users to create or take video, images and slideshows from virtually anywhere and turn it into their visual call signature. In a first for the mobile industry, Vringo has introduced its patented VringForward technology, which allows users to share video clips with friends with a simple call. Vringo’s Facetones™ application creates an automated video slideshow using friends’ photos from social media web sites, which is played each time a user communicates with a friend using a mobile device. Vringo’s Video ReMix application, in partnership with music artists and brands, allows users to create their own music video by tapping on a Smartphone or tablet. Lastly, Fan Loyalty is a platform that lets users interact, vote and communicate with contestants in reality TV series that it partners with, as well as downloading and setting clips from such shows as video ringtones. Vringo’s video ringtone application has been heralded by The New York Times as “the next big thing in ringtones” and USA Today said it has “to be seen to be believed.” For more information, visit: www.vringo.com

For comprehensive investor relations material, including fact sheets, white papers, conference calls and video regarding Vringo and its applications, please follow the appropriate link: Investor Portal, White Paper, Overview Video and Facetones™ Video.

Forward-Looking Statements
This press release includes forward-looking statements, which may be identified by words such as “believes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “should,” “seeks,” “future,” “continue,” or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein. Factors that could cause actual results to differ materially include, but are not limited to: our ability to raise capital to fund our operations, the continued listing of our securities on the NYSE Amex, market acceptance of our products, our ability to protect our intellectual property rights, competition from other providers and products and other factors discussed from time to time in our filings with the Securities and Exchange Commission. Vringo expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.

Contacts:

Investor Contact:
Vringo, Inc.
Cliff Weinstein, VP Corporate Development
646-794-4226
cliff@vringo.com

Media Contact:
The Hodges Partnership
Caroline Platt & Stacey Brucia
804-788-1414
VringoPR@hodgespart.com

Financial Communications:
Trilogy Capital Partners, Inc.
Darren Minton, President
Toll-free: 800-592-6067
info@trilogy-capital.com

FuelCell Energy (FCEL) Announces Cooperation With Fraunhofer IKTS

DANBURY, Conn., Feb. 22, 2012 (GLOBE NEWSWIRE) — FuelCell Energy, Inc. (Nasdaq:FCEL), a leading manufacturer of ultra-clean, efficient and reliable fuel cell power plants, today announced a memorandum of understanding to form a German-based joint venture with Fraunhofer IKTS (Institute for Ceramic Technologies and Systems) to develop the market in Europe for Direct FuelCell® (DFC®) stationary power plants. Additionally, Fraunhofer IKTS will contribute certain assets and their expertise in fuel cells and materials science to the joint venture.

“Germany needs clean baseload distributed power generation and FuelCell Energy has market leading solutions so it is a very good fit for Fraunhofer to work with FuelCell Energy,” said Prof. Dr. Alexander Michaelis, director, Fraunhofer IKTS. “The Fraunhofer IKTS team looks forward to applying our materials science and fuel cell expertise to help develop a broader range of applications and markets for FuelCell Energy products and technology.”

The joint venture will target the European market for baseload distributed generation from a location in Germany to address the trend towards clean and renewable decentralized power generation. The attributes of stationary fuel cell power plants can help European countries diversify their power generation portfolio and reach sustainability goals as they provide continuous ultra-clean power in a highly efficient process at the point of use. The power generation portfolio of many European countries includes intermittent renewable power generation. Continuous baseload power from stationary fuel cell plants will help balance this intermittency.

“Fraunhofer IKTS brings world-renowned applied research expertise and a vast network of relationships that will help to develop and grow a stationary fuel cell market in Germany, which will then provide a platform for expansion throughout Europe,” said Chip Bottone, President and Chief Executive Officer for FuelCell Energy, Inc. “We expect that the combination of complementary knowledge and skill sets of fuel cell technology between our respective organizations is going to be very powerful for further enhancing the performance of Direct FuelCell power plants.”

“Strong partners like German-based Fraunhofer IKTS and our recent partnership announcement with Spanish-based Abengoa are helping us execute our European strategy to penetrate and rapidly grow stationary fuel cell installations in Europe,” continued Mr. Bottone. “We have an active pipeline of approximately 45 megawatts in Europe developed in just the past year with limited local presence to date, illustrating the strong market potential.”

FuelCell Energy will lead market development and servicing efforts for Direct FuelCell power plants as well as support for existing carbonate fuel cell power plants already operating in Europe. Fraunhofer IKTS will contribute research & development resources for enhancing DFC technology and use local knowledge and relationships to assist in market development. FuelCell Energy has established a legal entity in Germany for the joint venture and will retain majority ownership.

There are a number of existing incentives in Europe for stationary fuel cell power plants operating on either clean natural gas or renewable biogas. In Germany for example, a feed-in tariff is promoting adoption of combined heat and power (CHP) power generation as the German government is targeting 25 percent of electricity generation to include CHP by 2020, up from the current level of 15 percent. Additional incentives are available that are specific to fuel cell power generation.

DFC power plants generate electricity and usable high quality heat with an electrochemical reaction that emits virtually no pollutants. Avoiding the emission of NOx, SOx and particulate matter supports clean air regulations and benefits public health. The high efficiency of the fuel cell power generation process reduces fuel costs and carbon emissions, and producing both electricity and heat from the same unit of fuel drives economics while simultaneously promoting sustainability. Fuel cells can achieve up to 90 percent efficiency when configured to use the high quality heat generated by the power plant in a combined heat & power (CHP) mode.

Ultra-clean, efficient and reliable DFC plants can help solve the power generation challenges facing European countries. For example, Germany is targeting a 40 percent reduction in carbon emissions, doubling power generation from renewable sources to 35 percent, and aiming to eliminate nuclear power generation by 2022, which accounts for approximately one quarter of existing power generation. DFC power plants are fuel flexible, capable of operating on clean natural gas or renewable biogas. Germany, for example, has an extensive natural gas distribution network, supporting on-site power markets as well as utility grid support.

Founded in 1949, Fraunhofer is Europe’s largest application-oriented research organization with an annual research budget of €1.8 billion (approximately $2.3 billion) and more than 18,000 staff, primarily scientists and engineers. Fraunhofer has research centers and representative offices in Europe, USA, Asia and the Middle East, and more than 80 research units, including 60 Fraunhofer Institutes, at different locations in Germany. The Fraunhofer IKTS with its staff of 400 highly educated engineers, scientists and technicians is a world leading institute in the field of advanced ceramics for high tech applications. The primary markets for IKTS include energy and environmental technology with a focus on fuel cell development and commercialization.

Website: www.ikts.fraunhofer.de/en

The Fraunhofer IKTS logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11748

About FuelCell Energy

Direct FuelCell® power plants are generating ultra-clean, efficient and reliable power at more than 50 locations worldwide. With over 180 megawatts of power generation capacity installed or in backlog, FuelCell Energy is a global leader in providing ultra-clean baseload distributed generation to utilities, industrial operations, universities, municipal water treatment facilities, government installations and other customers around the world. The Company’s power plants have generated more than one billion kilowatt hours of ultra-clean power using a variety of fuels including renewable biogas from wastewater treatment and food processing, as well as clean natural gas. For more information, please visit our website at www.fuelcellenergy.com

The FuelCell Energy, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3284

This news release contains forward-looking statements, including statements regarding the Company’s plans and expectations regarding the continuing development, commercialization and financing of its fuel cell technology and business plans. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, general risks associated with product development, manufacturing, changes in the regulatory environment, customer strategies, potential volatility of energy prices, rapid technological change, competition, and the Company’s ability to achieve its sales plans and cost reduction targets, as well as other risks set forth in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.

Direct FuelCell, DFC, DFC/T, DFC-H2 and FuelCell Energy, Inc. are all registered trademarks of FuelCell Energy, Inc. DFC-ERG is a registered trademark jointly owned by Enbridge, Inc. and FuelCell Energy, Inc.

CONTACT: FuelCell Energy, Inc.
         Kurt Goddard
         Vice President Investor Relations
         203-830-7494
         ir@fce.com

         Fraunhofer Institute for Ceramic Technologies
         and Sintered Materials, IKTS 
         Dresden
         Katrin Schwarz
         Press and Public Relations
         +49 351 2553-7720
         katrin.schwarz@ikts.fraunhofer.de

GreenHunter Water (GRH) Closes on Significant Acquisition of Appalachian Commercial Water Disposal Facilities

GreenHunter Energy, Inc. (NYSE Amex: GRH), a diversified renewable energy company predominately focused on water resource management in the unconventional oil and gas shale resource plays, announced today that its wholly owned subsidiary, GreenHunter Water, LLC, has closed on the acquisition of 100% of the ownership interest of three fully operational commercial salt water disposal (SWD) wells and associated facilities located in Washington County, Ohio and Lee County, Kentucky. The total purchase price for this acquisition was approximately $8.8 Million. The consideration paid included a combination of cash, GreenHunter Energy restricted stock, GreenHunter Energy perpetual preferred stock, and a promissory note due to the Seller.

The assets acquired also included a fleet of nine (9) water hauling vacuum trucks, and 37 frac tanks (500 barrel capacity each). Total current salt water disposal capacity is 9,000 barrels per day (BBL/D), of which 6,000 BBL/D is from two wells located in Ohio and approximately 3,000 BBL/D is from one well located in Kentucky. Due to the strong demand for SWD services in the Marcellus and the evolving Utica Shale plays, utilization rates at the Ohio facility have been at or near 100% capacity for the last several months. Nearly all of the daily capacity in Ohio has been reserved under multiple disposal capacity contracts with major oil & gas companies and large independents active in the region – these capacity contracts also typically contain rights for Hunter Disposal to provide fluid transportation trucking on a first-call basis. Management is presently exploring various options to increase usage at the Kentucky facility by leveraging a combination of truck hauling and barge logistics.

Annual revenues from this acquisition are currently estimated to be approximately $15 million including disposal, hauling and water tank rental. In addition to the current employees, GreenHunter anticipates the creation of up to 40 new service industry jobs. These jobs will be created through a growth plan which includes the expansion of its existing truck fleet, expansion of its Total Water Management Solutions™ services portfolio within the current customer base, and the expansion of the Company’s MAG Tank™, Frac-Cycle™ and RAMCAT™ product lines.

Commenting on the acquisition, Jonathan D. Hoopes, GreenHunter President and COO, stated, “We have been working on this transaction since April of last year. This acquisition accelerates our growth plan and puts us on track to achieve 12,500 BBL/D total injection capacity in the Marcellus and Utica Shale plays by the end of 2012. We look forward to integrating these newly acquired properties, personnel, and established customer relationships into our existing Appalachian operations. We plan to continue our expansion activities specifically in these fast growing unconventional resource plays and hope to announce new transactions in the Eagle Ford and Bakken regions in the near future.”

About GreenHunter Water, LLC (a wholly owned subsidiary or GreenHunter Energy, Inc.)

GreenHunter Water, LLC provides Total Water Management Solutions™ in the oilfield. An understanding that there is no single solution to E&P fluids management shapes GreenHunter’s technology-agnostic approach to services. In addition to licensing of and joint ventures with manufacturers of mobile water treatment systems (Frac-Cycle^TM), GreenHunter Water is expanding capacity of salt water disposal, modular above-ground storage tanks (MAG Tank™), hauling and fresh water logistics services—including 21st Century tracking technologies (RAMCAT^TM) that allow Shale producers to optimize the efficiency of their water resource management and planning while complying with emerging regulations.

Additional information about GreenHunter Water may be found at www.GreenHunterWater.com.

Forward-Looking Statements

Any statements in this press release about future expectations and prospects for GreenHunter Energy and its business and other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the substantial capital expenditures required to fund its operations, the ability of the Company to implement its business plan, government regulation and competition. GreenHunter Energy undertakes no obligation to update these forward-looking statements in the future.

Pyramid Oil Company (PDO) Initiates Drilling of Santa Fe #20 Development Well in Carneros Creek Field

BAKERSFIELD, CA — (Marketwire) — 02/21/12 — Pyramid Oil Company (NYSE Amex: PDO), today announced it has commenced drilling operations on the Santa Fe #20, a development well within Pyramid’s Carneros Creek field in Kern County, California.

The well will target the Point of Rocks formation at a depth of approximately 3,400 feet. Drilling is expected to take approximately 10 days and will be followed by perforating and stimulation operations. Pyramid has roughly three-dozen wells producing in the Carneros Creek field, where the Company has operated for more than 25 years.

About Pyramid Oil Company
Pyramid Oil Company has been in the oil and gas business continuously since incorporating in 1909. Pyramid acquires interests in land and producing properties through acquisition and lease, and then drills and/or operates crude or natural gas wells in an effort to discover or produce oil and/or natural gas. More information about the Company can be found at: http://www.pyramidoil.com.

Safe Harbor Statement
Certain statements and information included in this press release constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995, including statements regarding the completion and testing of wells. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results in future periods to differ materially from forecasted results. Factors that could cause or contribute to such differences include, but are not limited to the value of crude oil or the performance of wells.

CONTACTS:
John H. Alexander
President and CEO
Pyramid Oil Company
661-325-1000

Geoff High
Principal
Pfeiffer High Investor Relations, Inc.
303-393-7044

Chanticleer Holdings (CCLR) Announces Grand Opening Celebration of Fourth Hooters Restaurant in South Africa

CHARLOTTE, NC — (Marketwire) — 02/21/12 — Chanticleer Holdings, Inc. (OTCBB: CCLR) (“Chanticleer” or the “Company”), a business operator focused on expanding the Hooters casual dining restaurant brand in international markets, today announced it held a celebration on February 16, 2012 to mark the grand opening of the Hooters Emperors Palace. The newest location in Johannesburg, South Africa is the fourth restaurant opened by the company in less than 3 years.

Grand Opening Events were set to a James Bond Casino Royale theme, which was open to the public, along with VIP events from 7 pm to 11 pm attended by celebrities including the South African rugby team, tennis champion and 100 VIPs of the Emperors Palace Casino. The Hooters Emperors Palace location (www.emperorspalace.co.za) is conveniently situated alongside O.R. Tambo International Airport in Johannesburg, South Africa and has accommodation, a health and beauty spa, a casino, dining options, entertainment choices and conference facilities. Approximately 4.7 million tourists visit the Emperors Palace casino and hotel every year.

“We are delighted to be celebrating the opening of our newest Hooters with the people of Johannesburg,” said Michael Pruitt, Chief Executive Officer of Chanticleer Holdings. “We believe this ideal location will provide an exceptional experience for our customers, with the great food, experiences and family friendly fun they expect from Hooters.”

“We are proud of the work Chanticleer has done in advancing the Hooters brand in South Africa,” said Terry Marks, the CEO of Hooters of America, LLC. “Their business development skill and commitment to operational excellence has created a model for our franchisees throughout the world. We wish the management team the best of luck with this their fourth location and we like that we can now say we have a Hooters fit for an Emperor.”

The Hooters Emperors Palace is fully owned and operated by Chanticleer Holdings. The new restaurant is the Company’s fourth Hooters location in South Africa and second location in Johannesburg, with additional restaurants in Durban and Cape Town.

About Chanticleer Holdings, Inc.
Chanticleer Holdings was formed in 2005 as a business development company and converted to an operating holding company in 2008.

In 2011, Chanticleer and a group of noteworthy private equity investors, which included H.I.G. Capital, KarpReilly, LLC and Kelly Hall, president of Texas Wings Inc., the largest Hooters franchisee in the United States, acquired Hooters of America (HOA). Today, HOA is the franchisor and operator of over 450 Hooters restaurants in 44 states and 28 foreign countries. Chanticleer currently has rights to develop and operate restaurants in South Africa and is joint venturing with the current franchisee in Australia, while evaluating several additional opportunities. In addition to Chanticleer maintaining its ownership stake in HOA, its CEO, Mike Pruitt, is also a member of HOA’s Board of Directors. For further information, please visit www.chanticleerholdings.com or www.hooters.com.

About Hooters of America, LLC
Hooters of America, LLC is the franchisor and operator of over 430 Hooters restaurants in 44 states and 27 foreign countries. The first Hooters opened in 1983 in Clearwater, Florida. Hooters is well-known for its brand of food and fun, featuring a casual beach-theme atmosphere, a menu that features seafood, sandwiches and Hooters nearly, world famous chicken wings, and service provided by the All-American cheerleaders, the Hooters Girls. For more information about Hooters visit www.Hooters.com, www.twitter.com/Hooters, www.YouTube.com/Hooters or www.Facebook.com/Hooters.

Safe Harbor Statement
This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statement of historical fact (including statements containing the words “believes,” “plans,” “anticipate,” “expects,” “estimates,” and similar expressions) should also be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events.

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Contacts:

Company
Michael Pruitt
CEO
Phone: 704-366-5122 Ext: 1
Email: Email Contact

Investor Relations:
MZ North America
Mark McPartland
SVP
Phone: (212) 301-7130
Email: Email Contact
Web: www.mz-ir.com

VistaGen Therapeutics Engages MissionIR as Its Investor Relations Advisor

ATLANTA, GA — (Marketwire) — 02/21/12 — VistaGen Therapeutics, Inc. (OTCBB: VSTA) (OTCQB: VSTA), a biotechnology company applying stem cell technology for drug rescue and cell therapy, has retained MissionIR, a national investor relations consulting firm, to develop and implement a strategic investor relations campaign. Through a network of investor-oriented online websites and full suite of investor awareness services, MissionIR broadens the influence of publicly traded companies and enhances their ability to attract growth capital and improve shareholder value.

“VistaGen’s work with human stem cell technology is groundbreaking,” said Sherri Snyder, Director of Marketing at MissionIR. “The company’s versatile platform, Human Clinical Trials in a Test Tube™, provides clinically relevant predictions of potential heart toxicity of new drug candidates long before they are ever tested on humans. Guided by a management team with decades of experience, VistaGen’s stem cell technology can potentially save billions of dollars in the healthcare industry while recapturing prior R&D investment in once-promising new drug candidates.”

“We are pleased to bring MissionIR on board as our external investor relations partner,” said Shawn Singh, VistaGen’s Chief Executive Officer. “The crucial work our company is doing can fundamentally change the way medicine is developed. Paired with MissionIR’s global presence and sound investor relations programs, we can further grow our shareholder base and accelerate internal initiatives already in place to bring our stem cell technology platform to the forefront of drug development.”

About MissionIR

MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. Through a full suite of investor relations and consultancy services, we help public companies develop and execute a strategic investor awareness plan as we’ve done for hundreds of others. Whether it’s capital raising, increasing awareness among the financial community, or enhancing corporate communications, we offer a variety of solutions to meet the objectives of our clients.

For more information, visit www.MissionIR.com

About VistaGen Therapeutics

VistaGen is a biotechnology company applying human pluripotent stem cell technology for drug rescue and cell therapy. VistaGen’s drug rescue activities combine its human pluripotent stem cell technology platform, Human Clinical Trials in a Test Tube™, with modern medicinal chemistry to generate new chemical variants of once-promising small-molecule drug candidates. These are once-promising drug candidates discontinued by pharmaceutical companies during development due to heart toxicity, despite positive efficacy data demonstrating their potential therapeutic and commercial benefits. VistaGen uses its pluripotent stem cell technology to generate early indications, or predictions, of how humans will ultimately respond to new drug candidates before they are ever tested in humans.

Additionally, VistaGen’s small molecule drug candidate, AV-101, is in Phase 1b development for treatment of neuropathic pain. Neuropathic pain, a serious and chronic condition causing pain after an injury or disease of the peripheral or central nervous system, affects approximately 1.8 million people in the U.S. alone. VistaGen plans to initiate Phase 2 clinical development of AV-101 in the fourth quarter of 2012. VistaGen is also exploring opportunities to leverage its current Phase 1 clinical program to enable additional Phase 2 clinical studies of AV-101 for epilepsy, Parkinson’s disease and depression. To date, VistaGen has been awarded over $8.5 million from the NIH for development of AV-101.

Visit VistaGen at http://www.VistaGen.com, follow VistaGen at http://www.twitter.com/VistaGen or view VistaGen’s Facebook page at http://www.facebook.com/VistaGen.

For More Information:

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

GlobalWise (GWIV) Introduces New Management Team

COLUMBUS, OH–(Marketwire -02/21/12)- GlobalWise Investments, Inc. (OTC.BB: 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 provide an overview of the Company’s new management team.

William J. “BJ” Santiago, President and CEO. BJ has more than 20 years of senior executive-level management experience with an emphasis in sales, operations and M&A activities in the public and private sectors. During his previous tenure at Lexmark, BJ was hand selected in 2008 by the Lexmark CEO to launch and lead all operations for the newly formed Content Management Sales Practices for North America, which was using the Intellinetics platform. Through this business venture, Intellinetics recognized his ability as an ECM industry thought leader. From here, he became a natural catalyst for Intellinetics’ business development and strategy. BJ also served eight years as a United States Army Infantry Officer and is a veteran of Operation Desert Storm.

Matthew Chretien, EVP and Chief Technology Officer. Matthew is a co-founder of Intellinetics and a strategic entrepreneur backed by more than 20 years of experience in technology sales, consulting and software product life cycle management within the aerospace, public safety, government and select commercial markets. After graduating from The Ohio State University with an engineering degree in 1990, he spent two years in the Fisher College of Business Doctoral Program at Ohio State in computer science to work on his Ph.D. During this period, Matthew discovered his research would be far too narrow to satisfy his interests and ultimately co-founded Intellinetics in 1994.

Michael Chretien, VP and Corporate Counsel. Michael is a co-founder of Intellinetics. After graduating from the University of Massachusetts with a Bachelor of Arts in economics in 1961, he joined the United States Marine Corps and retired in 1965 as a 1st Lieutenant. Michael continued to serve his country for 26 years in law enforcement and foreign counter intelligence. After retirement from government service, he continued his career in the law enforcement field by studying for his Juris Doctorate and was awarded a law degree from Capital University Law School in 1991. Michael’s next move was founding Intellinetics with his son Matthew using his law enforcement background as a client resource to consult and assist with document storage and various other IT-related solutions.

Thomas D. Moss, Chief Software Engineer. Tom is a co-founder of Intellinetics and director of the company’s software research and development efforts. He boasts 20 years of expertise in database application design and document imaging software technologies, and has earned both a mathematics degree and a computer science degree at the University of Wisconsin.

Michael A. Beck, Director of Operations. Mike brings to Intellinetics 17 years of IT experience, including IT management, hands on technical experience, departmental management, staff development, budget development and management, network design, large-scale project management, creation of a new IT telecommunications department, contract negotiations, vendor management and technology migrations. Mike has proven his ability to consistently bring projects in on time and within budget.

Neil C. Campbell, Director of Software Products Group. Neil has 16 years of experience in the IT field with an emphasis in infrastructure design, software architecture and productivity improvement solutions. Neil spent 11 years at Abbott Laboratories with focus on manufacturing IT operations and warehouse management systems before he joined Intellinetics as a project manager in fall of 2006. Neil was promoted to Director of Software products in 2008, where he currently contributes visionary leadership, thoughtful interpretation, diagnosis and resolution to complex business issues facing companies today and in the future. Neil holds a bachelor’s degree from The Ohio University and industry certifications from Microsoft, Cisco, Extreme Networks, HP, Dell, Marathon Technologies and IBM.

Jim Perry, Director of Business Development. Jim has more than 15 years of executive sales and marketing experience providing Electronic Content Management (ECM), workflow and advanced data capture solutions to the healthcare, government and insurance markets. Jim previously served as a Senior Account Executive for ImageSoft, Inc. where he was responsible for developing and selling ECM solutions to the healthcare, government, manufacturing and insurance markets. Jim was personally responsible for innovating and developing a marketing plan for the healthcare vertical market that resulted in ImageSoft being recognized in 2008 as No. 1 of more than 200 reseller integrators of OnBase ECM Software in the United States.

Robert Simmons, Director of Business Development. Robert’s experience in the print and imaging industry spans 15 years. He most recently served as the Director of Enterprise Solution Architecture for Samsung Electronics. Robert has been responsible for creating programs and services that analyze vertical market requirements for document and output solutions, which have resulted in millions of dollars in cost savings and efficiency gains. He has specialized in developing programs and solutions for healthcare, government and education customers in North America. Robert holds a bachelor’s degree in psychology from Lee University and an MBA from the University of Phoenix.

Randy Love, Director of Business Development. Over the past 10 years of his 25-year IT career, Randy’s efforts have been focused on the ECM market. Most recently he worked 4 years as the VP of Sales and Business Development at an Ohio based ECM provider counting a number of complex, multi-million dollar imaging solutions to his team’s credit. He also spent 4 years as a Government Industry Manager at Hyland Software where he was credited with assisting partners on numerous high profile public sector projects as well as leading direct efforts on a statewide SAP integration deal. Prior to focusing on the ECM industry, Randy spent five years marketing mobile data software solutions to criminal justice agencies and 10 years in the commercial sector with a national systems integration firm. Early in his career, Randy worked as a Systems Engineer and Programmer Analyst, which has transcended to the technical aptitude he brings to his current position. He is a Certified Document Imaging Architect (CDIA+), AIIM ECM Practitioner and computer science graduate with a Bachelor of Science from Youngstown State University.

Bob Peterson, Director of Business Development. Bob has over 20 years of senior management experience with an emphasis in channel sales, business development and marketing. Bob has most recently been the Director of Healthcare for Seneca, a market leader with a wide range of products, engineering and software services. At Intellinetics, Bob will continue to partner with Seneca, working together to jointly develop various strategic partners. Bob was a VP of Sales and Marketing at Optio Software, a leader in Electronic Document Management and Information optimization used in healthcare, government and commercial markets. Bob’s team developed and successfully marketed an Electronic Document Management solution that successfully lowered cost and increased efficiency for hospitals and helped meet HIPPA requirements, JACOH standards and enhanced Electronic Medical Record implementations.

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.

SIX Card Solutions Selects Mitel (MITL) for Virtualized Voice

MECHELEN, Belgium, Feb. 17, 2012 (GLOBE NEWSWIRE) — Mitel® (Nasdaq:MITL), a leading provider of unified communications and collaboration (UCC) software solutions, today announced that SIX Card Solutions will replace their legacy communications infrastructure with Mitel’s virtualized voice solutions. The supplier of a range of products and services supporting card-based electronic payment transactions selected Mitel’s Freedom architecture to address the growing demand for mobility and the need to reduce internal call costs. Mitel’s solutions offer additional functionality that will help SIX Card Solutions optimize internal communications and collaboration. Mitel partner CTTL is responsible for the implementation of the new communications environment.

Implementation of Mitel’s IP communications solution, based on VMware, has been completed at SIX Card Solutions’ head office and contact centre in Luxemburg, and at its branch offices in Sweden. Deployment of the Mitel solution will extend to SIX Card Solutions new office locations in the United Kingdom and Chicago later this spring.

By moving to Mitel’s virtual voice solution, SIX Card Solutions anticipates overall call costs between branches will be down 25 percent, with significant saving from transatlantic calls between Sweden and the United States.”The call costs between Sweden and the US will be reduced to zero. Overall we think the return on investment will be in three years,” says Benoit Collet, IT manager at SIX Card Solutions Group Luxembourg. “In addition, the flexibility of the new system is critical to support additional communications requirements to meet growing business needs.”

Mitel’s Freedom Architecture, including vMAS and vUCA, supports centralized management of the communications infrastructure. It also offers enhanced functionality including unified messaging, voicemail, mobility solutions, teleworking, collaboration and audio and web conferencing.

“We are specialized in processing card-based electronic payment transactions for several leading hotel and restaurant chains. Being able to respond quickly to those customers is critical. With SIX Card Solutions offices in multiple countries, we were not able to achieve the type of dynamic working environment with the centralized management required with our old system,” says Collet. “After comparative market research we selected a virtualized voice in combination with UC. Flexibility, ease of use and integration with other systems were key selection criteria. Mitel was the only supplier that met all our needs.”

“The project at SIX Card Solutions is a great example of why and how organizations with branches worldwide can benefit from IP telephony,” said Jozef Van Royen, channel director for Mitel Belgium and Luxemburg. “Our communications portfolio supports the growing need of organisations for more effective communications and call cost reductions.”

About Mitel

Mitel (Nasdaq:MITL) is a global provider of business communications and collaboration software and services. Mitel’s Freedom architecture provides the flexibility and simplicity organizations need to support today’s dynamic work environment. Through a single cloud-ready software stream, Mitel delivers a powerful suite of advanced communications and collaboration capabilities that provides freedom from walled garden architectures and enables organizations to implement best-of-breed solutions on any network; extends the “in-office” experience anywhere, on any device; and offers choice of commercial options to fit business needs. For more information, visit: http://www.mitel.com

The Mitel Networks Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8599

MITL-C

About SIX Card Solutions

SIX Card Solutions, with offices in Luxembourg, Sweden, UK, Germany and Germany, has been at the forefront of credit card processing since 1986. Today SIX Card Solutions leads the market in integrated card payment processing, providing Bespoke Solutions to hospitality, parking, retail and Internet merchants. SIX Card Solutions delivers secure, efficient, Integrated Card Solutions, enabling merchants on four continents to focus on their core business. SIX Card Solutions simplifies global card processing, everywhere.

About CTTL

Present on the Luxembourgish market since 1990, CTTL is already known in the telecommunications and security world. Today, the company is active as integrator in the three following sectors: Telecommunications, security and networking. CTTL is currently running with about fifty employees and serving about 1000 customers from both the finances, industry, healthcare, publics and services sector.

We are offering these customers a solution fitting with their existing needs. Based on their objectives and their constrains, we offer them innovative and pragmatic solutions. www.cttl.lu

Mitel and the Mitel logo are registered trademarks of Mitel Networks Corporation.

All other trademarks are the property of their respective owners.

CONTACT: Mitel, Marieke Adama, Tel: +31 (0)30 8500 030,
         Email: marieke_adama@mitel.com
         Whizpr, Elke De Ridder, Tel: 052 55 33 26,
         Email: elke@whizpr.be 

         CONTACTS (US):
         Scott Smith (media), 408-884-5157,
         ssmith@sterlingpr.com
         Amy MacLeod (media and industry analysts), 613-592-2122,
         amy_macleod@mitel.com
         Cynthia Hiponia (investor relations),
         613-592-2122 x71992, investorrelations@mitel.com

Wowjoint Holdings Limited (BWOW) Announces a New Manufacturing and A New R&D Facility

China Armco (CNAM) Updates Metals Trading Activities, With Fulfillment Of 160,000 Metric Ton Iron Ore Order.

Monster (MONT) Offers Files For Trademark Protection With USPTO

SAN DIEGO, Feb. 17, 2012 /PRNewswire/ — Monster Offers (OTCBB: MONT), a leading Daily Deal analytics provider and aggregator, today announced it has filed for trademark protection of its service mark as it expands its products and service offerings. This move is largely proprietary since the company has been using the Monster Offers name continuously since 2007.

According to the USPTO, owning a federal trademark on the Principal Register provides several key advantages, including:

• Public notice of your claim of ownership of the mark;
• A legal presumption of your ownership of the mark and your exclusive right to use the mark nationwide on or in connection with the goods/services listed in the registration;
• The ability to bring an action concerning the mark in federal court;
• The use of the U.S. registration as a basis to obtain registration in foreign countries;
• The ability to record the U.S. registration with the U.S. Customs and Border Protection (CBP) Service to prevent importation of infringing foreign goods;
• The right to use the federal registration symbol ®; and
• Listing in the United States Patent and Trademark Office’s online databases

About Monster Offers:

Monster Offers is a leading Daily Deal analytics provider and aggregator collecting daily deals from multiple sites in local communities across the U.S. and Canada. Focused on providing innovation and utility for Daily Deal consumers and providers, the company collects and publishes thousands of daily deals and allows consumers to organize these deals by geography or product categories, or to personalize the results using keyword search. More information can be found by visiting http://www.monsteroffers.com.

Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including, but not limited to, the risks associated with the management appointment described in this press release, and other risks identified in the filings by Monster Offers (MONT), with the Securities and Exchange Commission. Further information on risks faced by MONT are detailed in the Form 10-K for the year ended December 31, 2010, and in its subsequent Quarterly Reports on Form 10-Q. These filings are or will become available on a website maintained by the Securities and Exchange Commission at http://www.sec.gov. The information contained in this press release is accurate as of the date indicated. Actual results, events or performance may differ materially. Monster Offers does not undertake any obligation to publicly release the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact:
For Monster Offers
PublicRelations@monsteroffers.com

Improved Cord Blood Processing Research on BioLife Solutions (BLFS) CryoStor® Published in TRANSFUSION

nSales and Socket Mobile (SCKT) Partner to Bring Sales Force Automation to the Apple(R) iPad(R)

NEWARK, CA — (Marketwire) — 02/16/12 — Socket Mobile, Inc. (NASDAQ: SCKT), an innovative provider of mobile productivity solutions, today announced a partnership with nSales, a developer of mobile software for sales force automation. The collaboration enables sales representatives to quickly enter orders, look up account information, and check inventory levels during customer visits using a stylish, easy-to-use solution based on the Apple iPad.

The partnership combines the Socket Bluetooth® Cordless Hand Scanner (CHS) 7Xi, a small and lightweight portable barcode reader that has been certified by Apple for the iPad and other iOS devices, with nVision Mobile sales and CRM software, which nSales developed with the SocketScan 10 Software Development Kit from Socket Mobile. The combined solution enables sales representatives to save time and minimize errors during order entry by eliminating paper forms and leveraging fast, commercial-grade barcode scanning to quickly and accurately enter product numbers.

“Socket Mobile has an excellent reputation as a mobile device manufacturer, and nSales is proud to offer Socket barcode scanners with our nVision Mobile sales and CRM solution to our customers in the clothing, jewelry and gift industries,” said Lasse Styner Rostock, CEO of nSales. “Not only do our customers appreciate Socket barcode scanners for their high quality and ease of use with the Apple iPad, but developers at nSales found the Socket SDK to be well written and well documented, allowing us to add customized barcode scanning support to our software in only a few days.”

“Socket Mobile is pleased to partner with nSales to offer a powerful sales force automation solution based on the Apple iPad,” said Mike Gifford, executive vice president at Socket Mobile. “With applications from experienced developers like nSales and effective hardware peripherals like the Socket CHS barcode scanner, the Apple iPad can be elevated from a consumer device to an indispensible business tool for mobile workers.”

The Socket CHS 7Xi barcode scanner is available with an optional Software Development Kit (SDK). To learn more, please watch this video or visit the SDK webpage.

About nSales
nSales is a developer of mobile software for service technicians, sales representatives and other field workers. For more information, please visit www.nvisionmobile.com or email lasse@nsales.dk.

About Socket Mobile, Inc.
With 20 years of experience in the Automatic Identification and Data Capture market, Socket makes mobile computing and productivity work. The company offers a family of handheld computers and an extensive portfolio of AIDC peripherals designed specifically for business mobility deployments and to enable productivity increases and drive operational efficiencies in healthcare, hospitality and other vertical markets. The company also offers OEM solutions for the mobile device market. Socket is headquartered in Newark, Calif. and can be reached at +1-510-933-3000 or www.socketmobile.com. Follow Socket Mobile on Twitter @socketmobile and subscribe to sockettalk.socketmobile.com, the company’s official blog.

Socket and Bluetooth Cordless Hand Scanner are trademarks or registered trademarks of Socket Mobile. All other trademarks and trade names contained herein may be those of their respective owners.

© 2012, Socket Mobile, Inc. All rights reserved.

Adeona (AEN) Becomes Synthetic Biologics, Inc. (SYN)

Forward Industries (FORD) Signs Global Partnership with Annex Products

India Globalization Capital (IGC) Announces Financial Results for the Quarter Ended December 31, 2011

BETHESDA, MD — (Marketwire) — 02/16/12 — India Globalization Capital, Inc. (NYSE Amex: IGC)

• Completes acquisition of Ironman.
• Strengthens balance sheet.
• Expands capacity at beneficiation plant by 50%.
• Projects a swing to profitability in Fiscal 2013.

India Globalization Capital, Inc. (NYSE Amex: IGC), a company competing in the burgeoning Indian and Chinese materials and infrastructure industries, announced financial results for the Third quarter of Fiscal Year 2012 that Ended December 31, 2011.

Ram Mukunda CEO of IGC said, “This quarter the team has been focused on completing the acquisition of Ironman. In addition we are in the process of expanding capacity at the beneficiation plant by 50%. We also acquired a mining property, which at $127 per ton has an estimated $225 million of iron ore reserves. This brings our total projected reserves of iron ore and rock aggregate to about $590 million. We expect the new plant to be operational by the end of March and in time for the beginning of our fiscal year starting April 1, 2012. In addition we are in the process of increasing synergies between our Indian operations and Chinese operations. We have a unique strategy of shipping low-grade ore to our plants and processing it to a higher grade before selling it to our customers. This allows us to take advantage of the price arbitrage between low grade and high grade ore.”

The acquisition of Ironman closed on December 31, 2011 and therefore our consolidated financials include a consolidation of the balance sheet but not the income statement of Ironman. The profit and loss consolidation will commence on January 1, 2012 and will be included in the next quarter ending March 31, 2012.

Total revenue for IGC was $987 thousand for the three months ended December 31, 2011, as compared to $484 thousand for the three months ended December 31, 2010. As there is still a ban on iron ore exports from Karnataka, we increased domestic trading. The revenue reported for December 31, 2011 does not include an additional $879 thousand that was generated by our rock aggregate joint venture, because we own 49% of the joint venture. The revenue in the Joint Venture was up by 37% from $642 thousand in the previous quarter ended September 30, 2011. We continue to see strong demand for both ore and aggregate in our local markets in India.

The selling general and administrative expenses (SG&A) were $969 thousand for the three months ended December 31, 2011 compared to $1,054 thousand for the three months ended December 31, 2010. In this quarter, we included $400 thousand of one-time charges related to the acquisition of Ironman.

Consolidated net loss for the three months ended December 31, 2011 was $1.914 million compared to a consolidated net loss of $1.762 million for the three months ended December 31, 2010. In this quarter the net loss includes a one-time charge of $400 thousand for the acquisition of Ironman and $818 thousand in a foreign exchange translation loss. Over the quarter, the Indian rupee weakened drastically against the US dollar.

The Company reported a GAAP net loss of ($0.09) per basic share versus a GAAP net loss of ($0.12) per basic share for the three months ended December 31, 2010. The non-GAAP pro forma EPS inclusive of all one-time charges and inclusive of Ironman was a net profit of $0.04 per basic share.

As of December 31, 2011, the Company’s stockholders’ equity was approximately $14,079,469 compared to $7,292,859 for the period ended March 31, 2011. The increase was from the acquisition of Ironman. The Company reported total assets of approximately $35.1 million on December 31, 2011 versus approximately $18.16 million on March 31, 2011. The increase was from the consolidation of the Ironman balance sheet. The Company reported cash, cash equivalents, and restricted cash used as deposits of approximately $4.62 million. The Company reported notes payable and short-term borrowings of $4.25 million as of December 31, 2011 versus $4.82 million as of March 31, 2011. The Company repaid $571 thousand in the nine-month period.

             INDIA GLOBALIZATION CAPITAL, INC. AND SUBSIDIARIES
                        CONSOLIDATED BALANCE SHEETS

                                       All amounts in USD except share data

                                                           As of
                                               ----------------------------
                                                December 31,    March 31,
                                                    2011           2011
                                                (unaudited)     (audited)
                                               -------------  -------------
                    ASSETS
Current assets:
Cash and cash equivalents                      $   4,444,972  $   1,583,284
Accounts receivable, net of allowances             5,971,786      3,312,051
Inventories                                          767,432        133,539
Advance taxes                                         41,452         41,452
Dues from related parties                            239,947              -
Prepaid expenses and other current assets          3,097,845      1,474,838
                                               -------------  -------------
Total current assets                           $  14,563,434  $   6,545,164
                                               -------------  -------------
Goodwill                                             952,836        410,454
Property, plant and equipment, net                 8,021,606      1,231,761
Intangible assets                                  3,880,957             -
Investments in affiliates                          6,303,315      6,428,800
Investments-others                                   766,060        877,863
Deferred income taxes                                180,929              -
Restricted cash                                      182,619      1,919,404
Other non-current assets                             246,863        748,623
                                               -------------  -------------
Total assets                                   $  35,098,619  $  18,162,069
                                               =============  =============

     LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Short-term borrowings                          $     764,871  $     901,343
Trade payables                                       998,560      1,311,963
Accrued expenses                                   1,316,012        349,149
Notes payable                                      3,485,254      3,920,000
Taxes payable                                      3,085,107              -
Other taxes payable                                1,764,816              -
Dues to related parties                              310,643              -
Deferred tax liabilities                             135,980
Other current liabilities                          1,091,603         94,892
                                               -------------  -------------
Total current liabilities                      $  12,952,846  $   6,577,347
                                               -------------  -------------
Deferred income taxes                                713,897              -
Other non-current liabilities                      4,270,023      1,209,479
                                               -------------  -------------
Total liabilities                              $  17,936,766  $   7,786,826
                                               -------------  -------------

Shares potentially subject to rescission
 rights (4,868,590 shares issued and
 outstanding)                                      3,082,384      3,082,384

Stockholders' equity:
  Common stock - $.0001 par value; 150,000,000
   shares authorized; 47,591,843 issued and
   outstanding as of December 31, 2011 and
   14,890,181 issued and outstanding as of
   March 31, 2011                                      4,760          1,490
  Additional paid-in capital                      48,887,101     38,860,319
  Accumulated other comprehensive income          (2,625,115)    (2,502,596)
  Retained earnings (Deficit)                    (33,252,738)   (29,692,907)
                                               -------------  -------------
    Total equity attributable to the parent    $  13,014,008  $   6,666,306
  Non-controlling interest                         1,065,461        626,553
                                               -------------  -------------
    Total stockholders' equity                 $  14,079,469  $   7,292,859
                                               -------------  -------------
Total liabilities and stockholders' equity     $  35,098,619  $  18,162,069
                                               =============  =============

   The accompanying notes should be read in connection with the financial
                                 statements.

             INDIA GLOBALIZATION CAPITAL, INC. AND SUBSIDIARIES
                   CONSOLIDATED STATEMENTS OF OPERATIONS
                                (Unaudited)

                                       All amounts in USD except share data

                            Three months ended         Nine months ended
                               December 31,              December 31,
                         ------------------------  ------------------------
                             2011         2010         2011         2010
                         -----------  -----------  -----------  -----------

  Revenues               $   986,799  $   484,106  $ 2,959,167  $ 3,294,103
  Cost of revenues
   (excluding
   depreciation and
   amortization)          (1,024,817)    (457,379)  (2,902,650)  (3,053,512)
  Selling, general and
   administrative
   expenses                 (968,890)  (1,054,894)  (2,354,405)  (2,399,503)
  Depreciation               (42,360)    (461,627)    (169,225)    (659,002)
                         -----------  -----------  -----------  -----------
Operating income (loss)  $(1,049,268) $(1,489,794) $(2,467,113) $(2,817,914)
  Interest expense          (174,353)    (307,630)    (624,086)    (718,339)
  Amortization of debt
   discount                        -            -            -     (356,436)
  Interest income             59,629       40,657      186,061      170,438
  Other income, net         (716,364)     (25,914)    (706,440)      34,558
Income before income
 taxes and minority
 interest attributable
 to non-controlling
 interest                $(1,880,356) $(1,782,681) $(3,611,578) $(3,687,693)
  Earnings in Income
   from Affiliates           (33,588)           -       28,463            -
  Income taxes benefit/
   (expense)                       -       20,212            -      475,226
                         -----------  -----------  -----------  -----------
Net income/(loss)        $(1,913,944) $(1,762,469) $(3,583,115) $(3,212,467)
  Non-controlling
   interests in earnings
   of subsidiaries            12,569       13,451       23,284       16,014
                         -----------  -----------  -----------  -----------
Net income / (loss)
 attributable to common
 stockholders            $(1,901,375) $(1,749,018) $(3,559,831) $(3,196,453)
                         ===========  ===========  ===========  ===========
Earnings/(loss) per
 share attributable to
 common stockholders:
  Basic and diluted      $     (0.09) $     (0.12) $     (0.17) $     (0.23)
Weighted-average number
 of shares used in
 computing earnings per
 share amounts:
  Basic and diluted       21,301,092   14,750,483   20,880,604   13,814,634

   The accompanying notes should be read in connection with the financial
                                 statements.

About IGC

Based in Bethesda, Maryland, India Globalization Capital (IGC) is a materials and construction company operating in India and China. We operate beneficiation plants in China and rock aggregate sites in India. We supply materials to the burgeoning infrastructure industries in India and China. For more information about IGC, please visit IGC’s website at www.indiaglobalcap.com. For more information on our Chinese operations, including a video on the iron ore beneficiation process, please visit the Web site at www.hfironman.net

Forward-looking Statements:

Some of the statements contained in this press release that are not historical facts constitute forward-looking statements under the federal securities laws. Forward-looking statements can be identified by the use of the words “may,” “will,” “should,” “could,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “intends,” “potential,” “proposed,” or “continue” or the negative of those terms. These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of IGC concerning PRC Ironman with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond IGC’s control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, our competitive environment, infrastructure demands, iron ore availability and governmental, political, economic, legal and social conditions in China.

Factors that could cause actual results to differ, relate to the (i) ability of IGC to successfully execute on contracts and business plans, (ii) ability to raise capital and the structure of such capital including the exercise of warrants, (iii) exchange rate changes between the U.S. dollar, the Chinese RMB and the Indian rupee, (iv) weather conditions in China and India, (v) uncertainties with respect to the People’s Republic of China’s legal and regulatory environment, and (vi) ability of the Company to access ports on the coasts of India. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise. Other factors and risks that could cause or contribute to actual results differing materially from such forward-looking statements have been discussed in greater detail in IGC’s amended Annual Report on Form 10-K for the year ended March 31, 2011 and Schedule 14A filed on December 9, 2011 with the Securities and Exchange Commission.

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Contact Information
Investor Relations
John Selvaraj
301-983-0998

Recon (RCON) Reports Second Quarter 2012 Financial Results

BioDelivery Sciences (BDSI) Receives Patent Allowance Triggering $15 Million Milestone Payment from Endo Pharmaceuticals

RALEIGH, N.C. and CHADDS FORD, Pa., Feb. 16, 2012 /PRNewswire/ — BioDelivery Sciences International, Inc. (Nasdaq: BDSI) announced the U.S. Patent and Trademark Office (USPTO) has issued a Notice of Allowance of BDSI’s patent application (No. 13/184306) that, once formally granted, will extend the exclusivity of the BioErodible MucoAdhesive (BEMA) drug delivery technology for BEMA Buprenorphine and BEMA Buprenorphine/Naloxone from 2020 to 2027.

A Notice of Allowance is issued when the USPTO has determined to grant a patent. Once the issue fee is paid, the final granting of the patent takes place, typically within a few months.

As a part of BDSI’s recently signed BEMA Buprenorphine licensing and development agreement with Endo Pharmaceuticals (Nasdaq: ENDP), BDSI is entitled to a milestone payment in the amount of $15 million upon the final granting of this patent.

“We are very pleased by the allowance of this patent application by the USPTO, that will not only provide non-dilutive capital to BDSI in the next couple months, but importantly extends the period of exclusivity, and thus the potential for a longer royalty stream, for BEMA Buprenorphine in its use for treating chronic pain following FDA approval and commercial launch,” stated Dr. Mark A. Sirgo, President and Chief Executive Officer of BDSI. “It is an added benefit that this patent upon granting will afford similar protection to BEMA Buprenorphine/Naloxone for the treatment of opioid dependence.”

“Endo is committed to serving as an integrated solutions provider for the development and commercialization of products focused on the management of pain,” said Dr. Ivan Gergel, M.D., executive vice president, R&D and chief scientific officer, Endo Pharmaceuticals. “And the allowance of the patent application is an exciting step in continuing Endo’s tradition of novel product development in the field of pain management.”

BDSI expects the final granting of the patent and associated payment of the $15 million milestone within the next few months.

About BioDelivery Sciences International

BioDelivery Sciences International (NASDAQ: BDSI) is a specialty pharmaceutical company that is leveraging its novel and proprietary patented drug delivery technologies to develop and commercialize, either on its own or in partnerships with third parties, new applications of proven therapeutics. BDSI is focusing on developing products to meet unmet patient needs in the areas of pain management and oncology supportive care. BDSI’s pain franchise currently consists of two products utilizing the patented BEMA technology. ONSOLIS (fentanyl buccal soluble film) is approved in the U.S., Canada, and the E.U. (where it will be marketed as BREAKYL), for the management of breakthrough pain in opioid tolerant, adult patients with cancer. The commercial rights are licensed to Meda for all territories worldwide except for Taiwan (licensed to TTY Biopharm) and South Korea (licensed to Kunwha Pharmaceutical Co.). BDSI’s second pain product, BEMA Buprenorphine, is being developed for the treatment of moderate to severe chronic pain and is in development in a high dose formulation with naloxone for the treatment of opioid dependence. BEMA Buprenorphine for chronic pain is licensed on a worldwide basis to Endo Pharmaceuticals. Additional product candidates are being developed utilizing the BEMA technology for conditions such as nausea/vomiting (BEMA Granisetron). BDSI’s headquarters is located in Raleigh, North Carolina. For more information, visit www.bdsi.com.

BDSI^® and BEMA^® are registered trademarks of BioDelivery Sciences International, Inc. ONSOLIS^® is a registered trademark of Meda Pharmaceuticals, Inc. BREAKYL is registered trademark of Meda Pharma GmbH & Co. KG.

About Endo

Endo Pharmaceuticals Holdings is a U.S.-based, specialty healthcare solutions company with a diversified business model, operating in three key business segments – branded pharmaceuticals, generics and devices and services. We deliver an innovative suite of complementary products and services to meet the needs of patients in areas such as pain management, pelvic health, urology, endocrinology and oncology. For more information about Endo Pharmaceuticals Holdings and its businesses American Medical Systems, HealthTronics and Qualitest Pharmaceuticals, please visit http://www.endo.com/.

BDSI Cautionary Note on Forward-Looking Statements

This press release and any statements of representatives and partners of BioDelivery Sciences International, Inc. (the “Company”) related thereto contain, or may contain, among other things, certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission. Actual results (including, without limitation, the results (i) relating to the Company’s commercial partnership with Endo Pharmaceuticals (including the milestone payment due upon issuance of the patent described herein), (ii) of regulatory review of BEMA Buprenorphine and the payment of related milestone payments to the Company or (iii) sales results for BEMA Buprenorphine and resulting potential royalty payments to the Company) may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Readers are cautioned that peak sales and market size estimates have been determined on the basis of market research and comparable product analysis, but no assurances can be given that such estimates are accurate or that such sales levels will be achieved, if at all.

Endo Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plan,” “will,” “may,” “look forward,” “intend,” “guidance,” “future” or similar expressions are forward-looking statements. Because these statements reflect our current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties. Investors should note that many factors, as more fully described under the caption “Risk Factors” in our Form 10-K, Form 10-Q and Form 8-K filings with the Securities and Exchange Commission and as otherwise enumerated herein or therein, could affect our future financial results and could cause our actual results to differ materially from those expressed in forward-looking statements contained in our Annual Report on Form 10-K. The forward-looking statements in this press release are qualified by these risk factors. These are factors that, individually or in the aggregate, could cause our actual results to differ materially from expected and historical results. We assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

SOURCE Endo Pharmaceuticals

Adept Technology (ADEP) Receives $1.4 Million Order From International Equipment OEM

PLEASANTON, Calif., Feb. 14, 2012 (GLOBE NEWSWIRE) — Adept Technology, Inc. (Nasdaq:ADEP), a leading provider of intelligent robots and autonomous mobile solutions, today announced it has received a $1.4 million order for high-precision robots from a major international manufacturer of sophisticated automation equipment for use in the consumer electronics and information technology industries. The order is expected to be fulfilled and recognized as revenue over the next two quarters. The company selected Adept as its automation partner to provide advanced robotic systems to be integrated into their process equipment as part of a program by their end-user manufacturer for increasing production capacities.

“This order is a continued validation of our partnerships and business strategy in Asia,” said Hai Chang, managing director of Asia operations for Adept Technology. “Adept continues to set the standard in the consumer electronics and information technology industry with our best-in-class high-precision mechanisms and controls technology.”

The order for Adept Python™ linear modules will be used in high-throughput, high-precision material handling applications. Adept Python robots have proven over the years to deliver consistently reliable performance and yields for our end-user customers. Additionally, the Adept SmartController CX controller and distributed controls platform allow the customer to fully leverage and benefit from Adept’s inherent multi-robot support capabilities, allowing up to 15 individually-configured robots to be commanded through one controller. Adept’s Python linear modules were also selected for their industry-leading cleanliness in controlled environments, with available options that are capable of meeting Fed 209E class 1 cleanroom standards at high motion speeds.

About Adept Technology, Inc.

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

The Adept Technology logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5387

Forward-Looking Statements

This press release contains forward-looking statements including, without limitation, statements about our expectations for revenues and cash flow and opportunities in our core markets and potential new markets. Such statements are based on current expectations and projections about the Company’s business. These statements are not guarantees of future performance and involve numerous risks and uncertainties that are difficult to predict. The Company’s actual results could differ materially from those expressed in forward-looking statements for a variety of reasons. For a discussion of these risk factors relating to Adept’s business, see Adept’s SEC filings, including the Company’s annual report on Form 10-K for the fiscal year ended June 30, 2011, which includes the discussion in Management’s Discussion and Analysis of Financial Condition and Results of Operations and Risk Factors.

CONTACT: Press and Industry Analysts:
         Lauren Bucher
         Marketing
         925.245.3533 (voice)
         925.245.3555 (fax)
         lauren.bucher@adept.com

         Financial Analysts:
         Lisa Cummins
         Chief Financial Officer
         925.245.3413 (voice)
         925.245.3510 (fax)
         investor.relations@adept.com

SPAR Group (SGRP) Announces 2011 Fiscal Year End Revenue Guidance of $72 Million

TARRYTOWN, NY — (Marketwire) — 02/14/12 — SPAR Group, Inc. (NASDAQ: SGRP) (the “Company” or “SPAR Group”), a leading supplier of retail merchandising and other marketing services throughout the United States and internationally, today announced revenue guidance of $72 Million for the fiscal year 2011. This would represent an increase in revenue of $9 million or 14%, compared to the same period in 2010.

“Management is pleased with the Company’s anticipated double digit growth for the 2011 fiscal year,” stated Gary Raymond, Chief Executive Officer of SPAR Group. “We are confident that SPAR Group will grow even more aggressively throughout 2012 due to the increased capabilities of our international division and our current pipeline of new contracts. The international subsidiaries we established in 2011 are expected to significantly augment our business and increase revenue starting in the first quarter of 2012. Our strategy of identifying opportunities that will deepen our product and service offerings globally has been a tremendous success and we expect to secure additional profitable acquisitions that will have a positive effect on the Company’s revenue going forward. Our main focus remains on the effective integration of our endeavors in China, Mexico, Turkey, and India, while increasing sales and improving overall profitability.”

The Company’s anticipated revenue improvement is primarily attributable to continued growth both domestically and internationally through its new subsidiaries established in Mexico and Turkey as well as significant incremental revenue growth in a majority of the international markets, most notably in South Africa and Canada. SPAR Group’s efforts to expand its domestic and international market shares are expected to increase profitability well into 2012. SPAR Group will continue to review additional acquisition and growth opportunities that could be accretive to 2012 forecasted earnings.

About SPAR Group
SPAR Group, Inc. is a diversified international merchandising and marketing services company and provides a broad array of services worldwide to help companies improve their sales, operating efficiency and profits at retail locations. The Company provides merchandising and other marketing services to manufacturers, distributors and retailers worldwide, primarily in mass merchandisers, office supply, grocery and drug store chains, independent, convenience and electronics stores, as well as providing furniture and other product assembly services, in-store events, radio frequency identification (“RFID”) and related technology services and marketing research. The Company has supplied these project and product services in the United States since certain of its predecessors were formed in 1979 and internationally since the Company acquired its first international subsidiary in Japan in May of 2001. Product services include product additions; placement, reordering, replenishment, labeling, evaluation and deletions, and project services include seasonal and special product promotions, product recalls and complete setups of departments and stores. The Company operates throughout the United States and internationally in 9 of the most populated countries, including China and India. For more information, visit the SPAR Group’s Web site at http://www.sparinc.com/.

Certain statements in this news release and such conference call are forward-looking, including (without limitation) growing revenues and profits through organic growth and acquisitions, attracting new business that will increase SPAR Group’s revenues, continuing to maintain costs and consummating any transactions. Undue reliance should not be placed on such forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company’s control. The Company’s actual results, performance and trends could differ materially from those indicated or implied by such statements as a result of various factors, including (without limitation) the continued strengthening of SPAR Group’s selling and marketing functions, continued customer satisfaction and contract renewal, new product development, continued availability of capable dedicated personnel, continued cost management, the success of its international efforts, success and availability of acquisitions, availability of financing and other factors, as well as by factors applicable to most companies such as general economic, competitive and other business and civil conditions. Information regarding certain of those and other risk factors and cautionary statements that could affect future results, performance or trends are discussed in SPAR Group’s most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and other filings made with the Securities and Exchange Commission from time to time. All of the Company’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.

Contact:

James R. Segreto
Chief Financial Officer
SPAR Group, Inc.
(914) 332-4100

Investors:
Alan Sheinwald
Alliance Advisors, LLC
(212) 398-3486

Chris Camarra
Alliance Advisors, LLC
(212) 398-3487

Innodata (INOD) Reports Fourth Quarter and Fiscal Year 2011 Results

INNODATA ISOGEN, INC. (NASDAQ: INOD) today reported results for the fourth quarter and the 12 months ended December 31, 2011.

• Total revenue was a record $23.7 million in the fourth quarter of 2011, a sequential increase of 23% from $19.2 million in the third quarter of 2011, and a 59% increase from $14.9 million in the fourth quarter of 2010. The increase is primarily attributable to higher revenue from eBook-related services that the Company performs for one of its larger clients and to revenue from analytics services that the Company performs for a major accounting firm.
• Net income for the fourth quarter of 2011 was $2.3 million, or $0.09 per diluted share, compared to net income of $1.4 million, or $0.06 per diluted share, in the third quarter of 2011, and net income of $1.2 million, or $0.05 per diluted share, in the fourth quarter of 2010. The increase in net income is primarily attributable to higher revenue and to an increase in gross margins from 33% in the third quarter of 2011 and 22% in the fourth quarter of 2010 to 36% in the fourth quarter of 2011.
• For the 12 months ended December 31, 2011, total revenue was $73.9 million, a 20% increase from $61.5 million in 2010. Net earnings improved significantly, from a net loss of $0.7 million, or ($0.03) per diluted share, in 2010, to net earnings of $4.5 million, or $0.18 per diluted share, in 2011. The growth in net earnings is primarily attributable to higher revenue and to an increase in gross margins from 23% in 2010 to 32% in 2011.
• Cash and cash equivalents and short-term investments totaled $17.2 million as of December 31, 2011, a decline of $7.0 million from $24.2 million as of September 30, 2011. The reduction is primarily on account of an $8.8 million increase in accounts receivable from $12.9 million as of September 30, 2011 to $21.7 million as of December 31, 2011 and approximately $2.5 million in investments made during the quarter for establishing two new delivery centers in Asia, and continuing investment in the Company’s recently-launched Innodata Advanced Data Solutions (IADS) segment. A significant portion of the increase in accounts receivable as of December 31, 2011 was from one of our large customers because of a process delay.

“In 2011, we succeeded at growing revenue by 20% and turning a 2010 pre-tax loss of $1.2 million to 2011 pre-tax earnings of $5.3 million, all the while making an investment of $2.7 million in operating expenses and $2 million in capital expenditures in our IADS division,” stated Jack Abuhoff, the Company’s Chairman and CEO. “Our IADS investment has enabled us to build a platform and service capability to provide high quality advanced data analytics to healthcare, financial, and insurance sectors for risk management and related business operations. We expect that IADS will begin contributing to revenue during the first half of 2012.”

Abuhoff concluded, “Our business in 2012 is off to a good start. We’re anticipating revenue for the first quarter of 2012 to be approximately $21.0 million.”

Timing of Conference Call with Q&A

Innodata will conduct an earnings conference call, including a question and answer period, at 11:00 AM eastern time today. You can participate in this call by dialing the following call-in numbers:

The call-in numbers for the conference call are:

1-800-723-6575 (Domestic)

1-785-830-1997 (International)

1-888-203-1112 (Domestic Replay)

1-719-457-0820 (International Replay)

Pass code on both: 7914822

Investors are also invited to access a live Webcast of the conference call at the Investor Relations section of www.innodata.com. Please note that the Webcast feature will be in listen-only mode.

Call-in or Webcast replay will be available for 30 days following the conference call.

Innodata (NASDAQ: INOD) is a leading provider of business process, technology and consulting services, as well as products and solutions, that help our valued clients create, manage, use and distribute digital information. Propelled by a culture of quality, service and innovation, we have developed a client base that includes many of the world’s preeminent media, publishing and information services companies, as well as leading enterprises in information-intensive industries such as aerospace, defense, financial services, government, healthcare, high technology, insurance, intelligence, manufacturing and law.

Recent honors include EContent Magazine’s EContent 100, KMWorld Magazine’s 100 Companies That Matter in Knowledge Management, the International Association of Outsourcing Professionals’ (IAOP) Global Outsourcing Top 100, D&B India’s Leading ITeS and BPO Companies and the Black Book of Outsourcing’s Top List of Leading Outsourcing Providers to the Printing and Publishing Business.

Headquartered in the New York metro area, Innodata has offices and operations in the United States, the United Kingdom, Israel, India, Sri Lanka, and the Philippines.

This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words “project,” “head start,” “believe,” “expect,” “should,” “anticipate,” “indicate,” “point to,” “forecast,” “likely”, “optimistic” and other similar expressions generally identify forward-looking statements, which speak only as of their dates.

These forward-looking statements are based largely on our current expectations, and are subject to a number of risks and uncertainties, including without limitation, that our Innodata Advanced Data Solutions segment has not reported any revenues to date and is subject to the risks and uncertainties of early-stage companies; the primarily at-will nature of the contracts between our Content Services segment and its customers and the ability of customers to reduce, delay or cancel projects; continuing Content Services revenue concentration in a limited number of customers; continuing Content Services reliance on project-based work; inability to replace projects that are completed, cancelled or reduced; depressed market conditions; changes in external market factors; the ability and willingness of our customers and prospective customers to execute business plans which give rise to requirements for digital content and professional services in knowledge processing; difficulty in integrating and deriving synergies from acquisitions, joint venture and strategic investments; potential undiscovered liabilities of companies that we acquire; changes in our business or growth strategy; the emergence of new or growing competitors; various other competitive and technological factors; and other risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission.

Actual results could differ materially from the results referred to in the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements contained in this release will occur.

FONAR (FONR) Reports 33% Increase in Net Income to $1.8 Million for 2nd Quarter of Fiscal Year 2012

MELVILLE, NY — (Marketwire) — 02/14/12 — FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported today its financial results for the second quarter of fiscal year 2012. For the three months ended December 31, 2011, net income increased 33% to $1.8 million, income from operations increased 31% to $1.9 million while total revenues increased 16% to $9.3 million, as compared to the corresponding fiscal quarter one year earlier.

Results from the Second Quarter Fiscal 2012 Financial Statement:

The basic income per common share increased 56% to $0.50 for the six months ended December 31, 2011 as compared to $0.32 for the same period one year earlier. For the quarter ended December 31, 2011 and 2010, the basic net income per common share was $0.25.

In addition, the diluted income per common share increased 58% to $0.49 for the six months ended December 31, 2011 as compared to $0.31 for the same period one year earlier. For the quarter ended December 31, 2011 and 2010, the diluted net income per common share was $0.24.

Net income for the six month period ended December 31, 2011 rose 105% to $3.6 million as compared to $1.7 million for the six month period ended December 31, 2010. For the quarter ended December 31, 2011, net income climbed 33% to $1.8 million as compared to $1.4 million for the quarter ended December 31, 2010.

Income from operations for the six month period ended December 31, 2011 rose 95% to $3.7 million as compared to $1.9 million for the six month period ended December 31, 2010. For the quarter ended December 31, 2011, income from operations climbed 31% to $1.9 million as compared to $1.4 million for the quarter ended December 31, 2010.

Total revenues for the six month period ended December 31, 2011 rose 13% to $18.9 million as compared to $16.7 million for the six month period ended December 31, 2010. For the quarter ended December 31, 2011, total revenue climbed 16% to $9.3 million as compared to $8.0 million for the quarter ended December 31, 2010.

Total operating costs and expenses increased 3% to $15.3 million for the six months ended December 31, 2011 from $14.8 million for the six months ended December 31, 2010. For the quarter ended December 31, 2011, total operating costs and expenses increased 13% to $7.4 million as compared to $6.6 million for the quarter ended December 31, 2011.

Revenues from product sales were $1.6 million for the fiscal quarter ended December 31, 2011 as compared to $1.8 million for the corresponding quarter ended December 31, 2010. Revenues from service and repair fees were $2.8 million for the fiscal quarter ended December 31, 2011 as compared to $2.7 million for the fiscal quarter ended December 31, 2010.

Revenues from the management and other fees segment (management of the FONAR UPRIGHT® Multi-Position™ MRI diagnostic imaging centers segment) increased 39% to $4.9 million for the fiscal quarter ended December 31, 2011, from $3.5 million for the fiscal quarter ended December 31, 2010.

As of December 31, 2011 total current assets were $25.1 million and total current liabilities were $21.9 million. Total assets were $33.5 million and total liabilities were $24.3 million. Total long-term liabilities were $2.4 million. Total stockholders’ equity was $9.2 million. Total cash and cash equivalents and marketable securities were $9.9 million.

Significant Highlights during the October – December Quarter:

On October 5, 2011, the Company reported a diagnostic breakthrough in the understanding of the genesis of multiple sclerosis (MS) based on observations made possible by the company’s unique FONAR UPRIGHT® Multi-Position™ MRI. The press release indicated that the cause of multiple sclerosis may be biomechanical and related to earlier trauma to the neck, which can result in the obstruction of the flow of cerebrospinal fluid (CSF), which is produced and stored in the central anatomic structures of the brain known as the ventricles. Since the ventricles produce a large volume of CSF each day (500 cc), an obstruction can result in a build-up of pressure within the ventricles, resulting in leakage of the CSF into the surrounding brain tissue. This leakage could be responsible for generating the brain lesions of multiple sclerosis.

The research was published in the journal Physiological Chemistry and Physics and Medical NMR (Sept. 20, 2011, 41: 1-17), titled “The Possible Role of Cranio-Cervical Trauma and Abnormal CSF Hydrodynamics in the Genesis of Multiple Sclerosis.” It was co-authored by FONAR MRI researchers Raymond V. Damadian, M.D., president and chairman of FONAR and FONAR scientist David Chu, PhD. The complete study can be viewed at www.fonar.com/pdf/PCP41_damadian.pdf.

Dr. Damadian said, “We used the UPRIGHT® Multi-Position™ MRI to view the flow of cerebrospinal fluid in and out of the brain with the patients scanned Upright and scanned lying down. The UPRIGHT® MRI also revealed that these obstructions were the result of structural deformities of the cervical spine, induced by trauma earlier in life. The findings are based on viewing the real-time flow of cerebrospinal fluid in a series of eight randomly chosen patients with multiple sclerosis. These invaluable dual observations have only been possible since the invention by FONAR of an MRI capable of imaging the patient Upright.” For more information visit: www.fonar.com.

On October 4, 2011, Dr. Damadian announced the study at a Radiology Department Grand Rounds at the University of California San Diego Medical Center. William G. Bradley, Jr., M.D., Ph.D., F.A.C.R., Chairman of the Department of Radiology, and a Professor of Radiology at UCSD School of Medicine, introduced Dr. Damadian to his colleagues at grand rounds. Dr. Bradley said, “Dr. Damadian has shown that 8 patients with MS had degenerative changes in their cervical spines which impinged on the spinal canal and limited the pulsatile, to-and-fro flow of cervical CSF over the cardiac cycle, as demonstrated on UPRIGHT® MRI. His hypothesis that increased resistance to outflow of CSF is linked to the etiology of MS has some similarities to Dr. P. Zamboni’s hypothesis that MS is due to the impeded outflow of venous blood from the brain due to dural sinus stenoses. In both theories, increased resistance to outflow of either CSF or venous blood would be expected to modify the intracranial pressure wave over the cardiac cycle. While both theories need to be further tested with larger controlled studies, it is intriguing that they seem to invoke similar pathologic changes. Whether these changes are etiologic in all cases of MS remains to be tested.”

On November 2, 2011, FONAR reported on a 41-year-old female patient with MS that had been one of the eight patients in the original study. The FONAR UPRIGHT® MRI had found cervical malrotations at the cranio-cervical junction and alterations of CSF flow dynamics which gave rise to CSF fluid leakages into surrounding brain tissue. The CSF leakages visualized were directly connected to the MS lesions visualized on the UPRIGHT® MRI. Dr. Damadian stated, “These new observations have uncovered biomechanical barriers that appear to lead to multiple sclerosis. It is significant that these barriers may be therapeutically addressable.”

The MS patient was treated by Dr. Scott Rosa, with a proprietary protocol using an Atlas Orthogonal (AO) instrument and the FONAR UPRIGHT® Multi-Position™ MRI. The patient has experienced a significant reduction in symptoms which correlate directly to 28.6% reduction of her CSF pressure on post MRI evaluation. At this time the patient continues to be free of MS symptoms as well as vertigo and vomiting on recumbency. The patient’s care continues being administered by Dr. Rosa.

On November 30, 2011, the Company reported a sale of its UPRIGHT® Multi-Position™ MRI to a radiology practice in the western USA. This becomes the 29th state to have a customer purchase the FONAR UPRIGHT® MRI. The FONAR UPRIGHT® Multi-Position™ MRI has also been sold to Puerto Rico and has been installed in eleven other nations around the world.

The board certified radiologist purchasing the FONAR UPRIGHT® Multi-Position™ MRI for his practice said he was buying the scanner in order to meet the expressed needs of his sending physicians, principally neurosurgeons and orthopedic surgeons. They are eager, he said, to achieve the best possible surgical outcomes for their spine surgery patients. Failure to see the full picture could result in the administration of a wrong or insufficient surgical procedure. They consider imaging the spine fully loaded with its normal weight, and in all the upright positions that the spine normally occupies, fundamental to a good surgical outcome for the patient.

About FONAR

FONAR (NASDAQ: FONR), Melville, NY, The Inventor of MR Scanning™, was incorporated in 1978, and is the first, oldest and most experienced MRI company in the industry. FONAR introduced the world’s first commercial MRI in 1980, and went public in 1981. Since its inception, nearly 300 recumbent-OPEN MRIs and 150 UPRIGHT® Multi-Position™ MRI scanners have been installed worldwide. FONAR’s stellar product is the UPRIGHT® MRI (also known as the Stand-Up® MRI), the only whole-body MRI that performs Position™ imaging (pMRI™) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® MRI often sees the patient’s problem that other scanners cannot because they are lie-down only. The patient-friendly UPRIGHT® MRI has a near-zero claustrophobic rejection rate by patients. As a FONAR customer states, “If the patient is claustrophobic in this scanner, they’ll be claustrophobic in my parking lot.” Approximately 85% of patients are scanned sitting while they watch a 42″ flat screen TV. FONAR is headquartered on Long Island, New York.

UPRIGHT® and STAND-UP® are registered trademarks and The Inventor of MR Scanning™, Full Range of Motion™, Multi-Position™, Upright Radiology™, The Proof is in the Picture™, True Flow™, pMRI™, Spondylography™, Dynamic™, Spondylometry™, CSP™, and Landscape™, are trademarks of FONAR Corporation.

This release may include forward-looking statements from the company that may or may not materialize. Additional information on factors that could potentially affect the company’s financial results may be found in the company’s filings with the Securities and Exchange Commission.

                                      #

                     FONAR CORPORATION AND SUBSIDIARIES
                    CONDENSED CONSOLIDATED BALANCE SHEETS
                               (000's OMITTED)

                                   ASSETS

                                                  December 31,    June 30,
                                                      2011          2011
Current Assets:                                   (UNAUDITED)
                                                 ------------- -------------
Cash and cash equivalents                        $       9,911 $       9,251

Marketable securities                                       30            33

Accounts receivable - net                                4,823         5,264

Accounts receivable - related party                         60             -

Management and other fees receivable - net               3,635         3,309

Management and other fees receivable - related
 medical practices - net                                 1,307         1,669

Costs and estimated earnings in excess of
 billings on uncompleted contracts                       1,152           169

Inventories                                              3,806         2,400

Current portion of notes receivable - net                  115           114

Prepaid expenses and other current assets                  270           352
                                                 ------------- -------------

Total Current Assets                                    25,109        22,561
                                                 ------------- -------------

Property and equipment - net                             3,374         3,769

Notes receivable                                           315           359

Other intangible assets - net                            4,120         4,318

Other assets                                               535           574
                                                 ------------- -------------

Total Assets                                     $      33,453 $      31,581
                                                 ============= =============

                     FONAR CORPORATION AND SUBSIDIARIES
                    CONDENSED CONSOLIDATED BALANCE SHEETS
                               (000's OMITTED)

                    LIABILITIES AND STOCKHOLDERS' EQUITY

                                                  December 31,    June 30,
                                                      2011          2011
                                                  (UNAUDITED)
                                                 ------------- -------------
Current Liabilities:

  Current portion of long-term debt and capital
   Leases                                        $       1,636 $       2,026
  Accounts payable                                       1,959         2,187
  Other current liabilities                              8,956         8,236
  Unearned revenue on service contracts                  5,275         5,762
  Unearned revenue on service contracts -
   related Parties                                          55             -
  Customer advances                                      3,303         4,846
  Billings in excess of costs and estimated
   earnings on uncompleted contracts                       736             4
  Income tax payable                                         -            75
                                                 ------------- -------------
    Total Current Liabilities                           21,920        23,136

Long-Term Liabilities:
  Accounts payable                                         141           102
  Due to related medical practices                         229           228
  Long-term debt and capital leases, less
   current Portion                                       1,490         1,746
  Other liabilities                                        494           502
                                                 ------------- -------------

    Total Long-Term Liabilities                          2,354         2,578
                                                 ------------- -------------

    Total Liabilities                                   24,274        25,714
                                                 ------------- -------------

                     FONAR CORPORATION AND SUBSIDIARIES
                   CONDENSED CONSOLIDATED BALANCE SHEETS
                              (000's OMITTED)

              LIABILITIES AND STOCKHOLDERS' EQUITY (Continued)

                                                December 31,     June 30,
                                                    2011           2011
                                                (UNAUDITED)
                                               -------------  -------------

STOCKHOLDERS' EQUITY:
Class A non-voting preferred stock $.0001 par
 value; 453,000 shares authorized at December
 31, 2011 and June 30, 2011, 313,451 issued
 and outstanding at December 31, 2011 and June
 30, 2011                                                  -              -

Preferred stock $.001 par value; 567,000
 shares authorized at December 31, 2011 and
 June 30, 2011, issued and outstanding - none              -              -

Common Stock $.0001 par value; 8,500,000
 shares authorized at December 31, 2011 and
 June 30, 2011, 5,774,371 and 5,636,571 issued
 at December 31, 2011 and June 30, 2011,
 respectively; 5,762,728 and 5,624,928
 outstanding at December 31, 2011 and June 30,
 2011, respectively                                        1              1

Class B Common Stock (10 votes per share) $
 .0001 par value; 227,000 shares authorized at
 December 31, 2011 and June 30, 2011, 158
 issued and outstanding at December 31, 2011
 and June 30, 2011                                         -              -

Class C Common Stock (25 votes per share)
 $.0001 par value; 567,000 shares authorized
 at December 31, 2011 and June 30, 2011,
 382,513 issued and outstanding at December
 31, 2011 and June 30, 2011                                -              -

Paid-in capital in excess of par value               173,729        173,476
Accumulated other comprehensive loss                     (20)           (16)
Accumulated deficit                                 (171,061)      (174,110)
Notes receivable from employee stockholders              (74)          (115)
Treasury stock, at cost - 11,643 shares of
 common stock at December 31, 2011 and June
 30, 2011                                               (675)          (675)
Non controlling interests                              7,279          7,306
                                               -------------  -------------

Total Stockholders' Equity                             9,179          5,867
                                               -------------  -------------

Total Liabilities and Stockholders' Equity     $      33,453  $      31,581
                                               =============  =============

                     FONAR CORPORATION AND SUBSIDIARIES
          CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
                   (000's OMITTED, except per share data)

                                                FOR THE THREE MONTHS ENDED
                                                       DECEMBER 31,
                                               ----------------------------
REVENUES                                            2011           2010
                                               -------------  -------------
  Product sales - net                          $       1,615  $       1,789
  Service and repair fees - net                        2,807          2,653
  Service and repair fees - related parties -
   net                                                    27             55
  Management and other fees - net                      3,308          2,380
  Management and other fees - related medical
   practices - net                                     1,571          1,142
                                               -------------  -------------
    Total Revenues - Net                               9,328          8,019
                                               -------------  -------------

COSTS AND EXPENSES
  Costs related to product sales                       1,171          1,368
  Costs related to service and repair fees               868            700
  Costs related to service and repair fees -
   related parties                                         9             15
  Costs related to management and other fees           1,887          1,707
  Costs related to management and other fees -
   related medical practices                             901            633
  Research and development                               293            153
  Selling, general and administrative                  1,995          1,745
  Provision for bad debts                                310            255
                                               -------------  -------------
    Total Costs and Expenses                           7,434          6,576
                                               -------------  -------------

Income From Operations                                 1,894          1,443

Interest Expense                                        (124)          (137)
Investment Income                                         64             58
Other Expense                                             (1)            (1)
Provision for Income Taxes                               (21)             -
                                               -------------  -------------

Net Income                                             1,812          1,363
Net Income - Non Controlling Interests                   276              -
                                               -------------  -------------
Net Income - Controlling Interests             $       1,536  $       1,363
                                               =============  =============
Net Income Available to Common Stockholders    $       1,432  $       1,262
                                               =============  =============
Net Income Available to Class A Non-Voting
 Preferred Stockholders                        $          78  $          75
                                               =============  =============
Net Income Available to Class C Common
 Stockholders                                  $          26  $          26
                                               =============  =============
Basic Net Income Per Common Share              $        0.25  $        0.25
                                               =============  =============
Diluted Net Income Per Common Share            $        0.24  $        0.24
                                               =============  =============
Basic and Diluted Income Per Share-Common C    $        0.07  $        0.07
                                               =============  =============
Weighted Average Basic Shares Outstanding          5,728,528      5,149,499
                                               =============  =============
Weighted Average Diluted Shares Outstanding        5,856,032      5,277,003
                                               =============  =============

                     FONAR CORPORATION AND SUBSIDIARIES
          CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
                   (000's OMITTED, except per share data)

                                                 FOR THE SIX MONTHS ENDED
                                                       DECEMBER 31,
                                               ----------------------------
                                                    2011           2010
                                               -------------  -------------
REVENUES
  Product sales - net                          $       3,391  $       4,448
  Service and repair fees - net                        5,712          5,342
  Service and repair fees - related parties -
   net                                                    55            110
  Management and other fees - net                      6,637          4,469
  Management and other fees - related medical
   practices - net                                     3,141          2,335
                                               -------------  -------------
    Total Revenues - Net                              18,936         16,704
                                               -------------  -------------

COSTS AND EXPENSES
  Costs related to product sales                       2,646          3,873
  Costs related to service and repair fees             1,682          1,366
  Costs related to service and repair fees -
   related parties                                        16             28
  Costs related to management and other fees           4,072          3,021
  Costs related to management and other fees -
   related medical practices                           1,720          1,372
  Research and development                               622            607
  Selling, general and administrative                  4,037          4,128
  Provision for bad debts                                485            431
                                               -------------  -------------
    Total Costs and Expenses                          15,280         14,826
                                               -------------  -------------

Income From Operations                                 3,656          1,878

Interest Expense                                        (231)          (231)
Interest Expense - Related Party                           -             (4)
Investment Income                                        126             96
Interest Income - Related Party                            -              1
Other Income                                              55              8
Provision for Income Taxes                               (21)             -
                                               -------------  -------------
Net Income                                             3,585          1,748
Net Income - Non Controlling Interests                   535              -
                                               -------------  -------------
Net Income - Controlling Interests             $       3,050  $       1,748
                                               =============  =============
Net Income Available to Common Stockholders    $       2,842  $       1,618
                                               =============  =============
Net Income Available to Class A Non-voting
 Preferred Stockholders                        $         155  $          97
                                               =============  =============
Net Income Available to Class C Common
 Stockholders                                  $          53  $          33
                                               =============  =============
Basic Net Income Per Common Share              $        0.50  $        0.32
                                               =============  =============
Diluted Net Income Per Common Share            $        0.49  $        0.31
                                               =============  =============
Basic and Diluted Income Per Share-Common C    $        0.14  $        0.09
                                               =============  =============
Weighted Average Basic Shares Outstanding          5,698,645      5,080,872
                                               =============  =============
Weighted Average Diluted Shares Outstanding        5,826,149      5,208,376
                                               =============  =============

Contact:
Daniel Culver
Director of Communications
FONAR Corporation
Tel: 631-694-2929
Fax: 631-390-1709
http://www.fonar.com

GlobalWise (GWIV) Completes Acquisition of Intellinetics

COLUMBUS, OH — (Marketwire) — 02/14/12 — GlobalWise Investments, Inc. (OTCBB: GWIV) (OTCQB: GWIV) (www.GlobalWiseInvestments.com) today announces the completion of its acquisition of Intellinetics, Inc. (www.Intellinetics.com).

Intellinetics, Inc., now a wholly owned subsidiary of GlobalWise Investments, is a leading-edge technology company focused on Enterprise Content Management (ECM) solutions for the digital age. Leveraging its cloud-based computing software, GlobalWise Investments is poised to capture a significant market share of the burgeoning ECM industry.

The Intellinetics platform defines a new industry benchmark and game-changing approach by combining advanced virtualization and automated content management with an open and service-oriented architecture using Web services. The Company provides strategies, tactics and technologies to manage paper and digital assets from capture to long-term archive, without the need for manual processes conducted by a full-time employee.

The Company’s ECM service is delivered to customers via five unique delivery models that cover the full spectrum of business needs: Cloud/SaaS (Software as a Service); Hardware Vendor Integrated Service; Software Vendor Integrated Service; Premise (Client-Server); and Hybrid (Premise & Cloud/SaaS). This diversity provides advanced security and privacy features with an on-demand structure for businesses in the large, underserved Tier 3 and Tier 4 markets.

William J. “BJ” Santiago, President and CEO of GlobalWise Investments, stated, “IBM Market Insights predicts adoption of cloud computing to continue growing at a compound annual growth rate of 26% until 2013. Through its acquisition of Intellinetics, GlobalWise Investments is well positioned to secure a strong foothold in this rapidly growing ECM industry.”

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

VistaGen (VSTA) Updates Pipeline of Stem Cell Technology-Based Drug Rescue Candidates

SOUTH SAN FRANCISCO, CA — (Marketwire) — 02/14/12 — VistaGen Therapeutics, Inc. (OTCBB: VSTA) (OTCQB: VSTA), a biotechnology company applying stem cell technology for drug rescue and cell therapy, has identified its initial Top 10 drug rescue candidates and plans to launch two formal drug rescue programs by the end of next quarter.

VistaGen’s goal for each of its stem cell technology-based drug rescue programs is to generate and license a new, safer variant of a once-promising large market drug candidate previously discontinued by a pharmaceutical company no earlier than late-preclinical development.

“We are now at an advanced stage in our business model,” said Shawn Singh, VistaGen’s Chief Executive Officer. “After more than a decade of focused investment in pluripotent stem cell research and development, we are now at the threshold where game-changing science becomes therapeutically relevant to patients and commercially relevant to our shareholders. We have positioned our company and our stem cell technology platform to pursue multiple large market opportunities. We plan to launch two drug rescue programs by the end of the next quarter.”

Over the past year, VistaGen, working with its network of strategic partners, identified over 525 once-promising new drug candidates that meet the Company’s preliminary screening criteria for heart toxicity-focused drug rescue using CardioSafe 3D™, its human heart cell-based bioassay system. After internally narrowing the field to 35 compounds, VistaGen, working together with its external drug rescue advisors, including former senior pharmaceutical industry executives with drug safety and medicinal chemistry expertise, analyzed and carefully narrowed the group of 35 to the current Top 10.

About VistaGen Therapeutics

VistaGen is a biotechnology company applying human pluripotent stem cell technology for drug rescue and cell therapy. VistaGen’s drug rescue activities combine its human pluripotent stem cell technology platform, Human Clinical Trials in a Test Tube™, with modern medicinal chemistry to generate new chemical variants of once-promising small-molecule drug candidates. These are once-promising drug candidates discontinued by pharmaceutical companies during development due to heart toxicity, despite positive efficacy data demonstrating their potential therapeutic and commercial benefits. VistaGen uses its pluripotent stem cell technology to generate early indications, or predictions, of how humans will ultimately respond to new drug candidates before they are ever tested in humans.

Additionally, VistaGen’s oral small molecule prodrug candidate, AV-101 (4-Cl-KYN), is in Phase 1b development for treatment of neuropathic pain. Unlike other NMDA receptor antagonists developed previously, AV-101 readily crosses the blood-brain barrier and is then efficiently converted into 7-chlorokynurenic acid (7-Cl-KYNA), one of the most potent and specific glycineB site antagonists currently known, and has been shown to reduce seizures and excitotoxic neuronal death. Neuropathic pain, a serious and chronic condition causing pain after an injury or disease of the peripheral or central nervous system, affects approximately 1.8 million people in the U.S. alone. To date, VistaGen has been awarded over $8.5 million from the NIH for development of AV-101. The Company anticipates pursuing Phase 2 development for neuropathic pain and other neurological indications, including depression, epilepsy, and/or Parkinson’s disease in the event it receives additional non-dilutive development grant funding from the NIH or private foundations.

Visit VistaGen at http://www.VistaGen.com, follow VistaGen at http://www.twitter.com/VistaGen or view VistaGen’s Facebook page at http://www.facebook.com/VistaGen.

Cautionary Statement Regarding Forward Looking Statements

The statements in this press release that are not historical facts may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to the success of VistaGen’s stem cell technology-based drug rescue activities, ongoing AV-101 clinical studies, its ability to enter into drug rescue collaborations and/or licensing arrangements with respect to one or more drug rescue variants, risks and uncertainties relating to the availability of substantial additional capital to support VistaGen’s research, drug rescue, development and commercialization activities, and the success of its research and development plans and strategies, including those plans and strategies related to AV-101 and any drug rescue variant identified and developed by VistaGen. These and other risks and uncertainties are identified and described in more detail in VistaGen’s filings with the Securities and Exchange Commission (SEC). These filings are available on the SEC’s website at www.sec.gov. VistaGen undertakes no obligation to publicly update or revise any forward-looking statements.

For More Information:

Shawn K. Singh, J.D.
Chief Executive Officer
VistaGen Therapeutics, Inc.
www.VistaGen.com
650-244-9990 x224
Investor.Relations@VistaGen.com

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

Universal Security Instruments (UUU) Reports Third-Quarter Results

UTStarcom (UTSI) Wins Two China Telecom Provincial IPTV Network Expansion Contracts

SeraCare (SRLS) Reports 9 Percent Revenue Growth in First Quarter Fiscal Year 2012

A123 Systems (AONE) to Supply Six Battery Energy Storage Solutions to Northern Powergrid

WALTHAM, Mass., Feb. 10, 2012 (GLOBE NEWSWIRE) — A123 Systems (Nasdaq:AONE), a developer and manufacturer of advanced Nanophosphate® lithium ion batteries and systems, today announced that it will supply six Grid Battery Systems™ (GBSs) to Northern Powergrid, an electricity distribution network operator that delivers power to more than 3.8 million customers in the U.K. The GBSs will be designed for peak-load shifting and to manage fluctuations in voltage on the U.K.’s power grid. Expected to be operational by the end of 2012, the systems will be deployed as part of the Customer-Led Network Revolution (CLNR), the U.K.’s largest smart grid project funded through the Office of the Gas and Electricity Markets’ (Ofgem) Low Carbon Networks Fund.

“The CLNR will evaluate a number of innovative network technologies to accommodate increasing quantities of low-carbon loads and renewable generation necessary to meet the U.K.’s climate change goals. One aspect of this multifaceted project is to determine how the use of storage technology may reduce peak loading on our network and thereby offset the need for network reinforcement,” said Jim Cardwell, head of regulation and strategy at Northern Powergrid. “A123’s battery energy storage systems will showcase how such technology can be part of the U.K.’s low-carbon future.”

A123’s GBS storage systems, which include the company’s Smart Grid Domain Controller™, are designed to provide Northern Powergrid with robust solutions to more efficiently manage voltage regulation requirements to help maintain grid stability and power quality as more clean energy resources are added. The six GBSs that A123 will supply to Northern Powergrid include a 2.5MW system, two 100kW systems and three 50kW systems. Each will be designed to maintain these power capabilities for up to two hours, adding flexibility to the distribution network and helping to provide consistent delivery of reliable power to customers.

“Grid operators around the world are faced with a variety of technical hurdles when trying to add significant renewable capacity. In the U.K., distribution networks often have limitations that make adding high concentrations of wind and solar difficult,” said Robert Johnson, vice president of the Energy Solutions Group at A123. “Battery energy storage can overcome these challenges by efficiently managing the voltage levels of the power network, and we look forward to working with Northern Powergrid on the CLNR smart grid project, which we view as an excellent opportunity for A123 to showcase the versatility and performance of our GBS solutions.”

About A123 Systems

A123 Systems, Inc. (Nasdaq:AONE) is a leading developer and manufacturer of advanced lithium-ion batteries and energy storage systems for transportation, electric grid and commercial applications. The company’s proprietary Nanophosphate® technology is built on novel nanoscale materials initially developed at the Massachusetts Institute of Technology and is designed to deliver high power and energy density, increased safety and extended life. A123 leverages breakthrough technology, high-quality manufacturing and expert systems integration capabilities to deliver innovative solutions that enable customers to bring next-generation products to market. For additional information, please visit www.a123systems.com.

The A123 Systems, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6600

Safe Harbor Disclosure

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors. Among the factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: changes or delays in Northern Power Grid’s development and implementation of the GBS solutions in connection with the Customer-Led Network Revolution project, delays or inability of the GBS solutions or the Customer-Led Network Revolution project to meet their intended goals and objectives, the ability of A123’s GBS storage systems to manage voltage regulation requirements of the power network and to address Northern Power Grid’s needs in connection with the Customer-Led Network Revolution project , delays in customer and market demand for Northern Power Grid’s products and services, delays in the implementation of A123’s GBS solutions , delays in the development, production and delivery of A123’s products and solutions, adverse economic conditions in general and adverse economic conditions specifically affecting the markets and geographies in which A123 and Northern Power Grid operate and other risks detailed in A123 Systems’ quarterly report on Form 10-Q for the quarter ended September 30, 2011 and other publicly available filings with the Securities and Exchange Commission. All forward-looking statements reflect A123’s expectations only as of the date of this release and should not be relied upon as reflecting A123’s views, expectations or beliefs at any date subsequent to the date of this release.

CONTACT: A123 Systems PR Contact:
         A123 Systems
         Dan Borgasano
         617-972-3471
         dborgasano@a123systems.com

         Edelman
         Courtney Kessler
         212-277-3720
         courtney.kessler@edelman.com

         A123 Systems IR Contact:
         ICR, LLC
         Garo Toomajanian
         617-972-3450
         ir@a123systems.com

Tandy Brands (TBAC) Reports Fiscal 2012 Second Quarter Earnings Results

DALLAS, Feb. 10, 2012 (GLOBE NEWSWIRE) — Tandy Brands Accessories, Inc. (Nasdaq:TBAC) today reported financial results for its second quarter and six-month periods ended December 31, 2011.

Net sales for the second quarter were $45.4 million, an increase of $2.5 million versus the prior year second quarter. Gifts segment net sales of $22.7 million increased by $6.0 million over the prior year period due to increased holiday shipments as a result of organic growth from the Company’s totes^® license and new sales from the Eddie Bauer^® license. Net sales in the accessories segment were $22.7 million for the second quarter, a decline of $3.5 million from fiscal 2011. The decline reported in the Accessories segment net sales was a result of lower sales in exited product categories and lower levels of replenishment orders by the Company’s largest customer.

“We are pleased to see our initiatives drive positive results,” said Rod McGeachy, President and Chief Executive Officer of Tandy Brands. “We delivered profitable growth and realized the benefits from recent cost savings initiatives to improve our bottom line.”

Second quarter fiscal 2012 gross margin as a percentage of net sales was 30.9 percent, compared to 33.2 percent in the second quarter of fiscal 2011. Although accessories segment gross margins improved, overall gross margins declined due to a higher mix towards customer-direct shipments, higher customer deductions for holiday markdowns, and increased sales to higher volume, lower margin customers in the gift segment.

Total selling, general and administrative (SG&A) expense for the fiscal 2012 second quarter improved by $2.3 million over the prior year period. This 18 percent improvement was due to savings initiatives in labor, facilities costs, and professional services.

For the second quarter, the Company reported net income of $2.7 million, or $0.39 per diluted share, compared to net income of $0.7 million, or $0.10 per diluted share, in the prior year.

Six-Month Results

Net sales for the six-month period ended December 31, 2011 were $72.2 million compared to net sales of $72.1 million reported in the prior-year period. An increase in net sales of the gifts segment was due to an increase in business under the totes^® license and new sales under the Eddie Bauer^® license. This was offset by the planned exit from non-profitable product categories initiated at the end of the prior fiscal year in the accessories segment.

Gross margin as a percentage of net sales was 32.1% in the first half of fiscal 2012, down from 33.9% in the first half of fiscal 2011. The decline was due to a change in sales mix in the gifts segment including a higher mix towards customer-direct shipments, higher freight and material costs, and increased sales to higher volume, lower margin customers.

Total SG&A expense for the six-month period decreased $5.0 million to $19.4 million in fiscal 2012 due to decreases in labor, facilities costs, and professional services.

The Company reported net income of $1.7 million, or $0.23 per diluted share, compared to a net loss of $2.0 million, or a loss of $0.28 per diluted share, in the prior-year period.

Financial Position

Net cash provided by operating activities was $17.7 million higher than the first half of fiscal 2011 due to a $3.8 million improvement in adjusted EBITDA, faster collections on receivables, lower inventory levels, and lower funding of accounts payable and accrued expenses. Inventories were reduced by $5.7 million to $32.7 million as of December 31, 2011, due to lower levels of inventory carried during the current year. Accounts receivable was reduced by $8.7 million to $16.4 million on flat net sales due to faster collection of receivables with the Company’s largest customer.

As of December 31, 2011 the Company reported net working capital of $25.1 million. Current liabilities of $29.0 million as of December 31, 2011 decreased $6.4 million from December 31, 2010 primarily driven by a $6.2 million reduction in outstanding debt.

“We are pleased by our improvement in cash flow from operations,” said McGeachy. “We will continue to focus on accelerating our cash cycle and making prudent investment decisions with our cash. We are performing well against our debt covenants and successfully reducing overall debt. As of February 9, 2012 our loan balance was $8.5 million compared to $13.8 million during the same period a year ago.”

New Licensing Agreements

In the third quarter of fiscal 2012, the Company signed new licenses with Sperry Top-Sider^® and Arnold Palmer Enterprises (APE). Both of these licenses are expected to impact results in the Company’s accessories segment beginning in calendar 2013.

Under the agreement with Sperry Top-Sider^®, Tandy Brands will have the rights to leverage its expertise in belts, shoulder bags, and small leather goods for both men and women. Sperry Top-Sider^® products will be distributed through premium department stores and specialty retailers throughout the United States and Canada, Sperry Top-Sider’s own retail stores, and on sperrytopsider.com.

“We are excited to partner with Sperry Top-Sider, a brand recognized as an icon of American style for more than 75 years with distinct equities which we will leverage to develop a compelling product offering,” said McGeachy.

Under the agreement with APE, Tandy Brands will have the rights to leverage its expertise in golf belts. Incremental distribution is expected in green grass golf shops, off-course golf specialty stores, department stores, corporate shops and e-commerce shops.

“We are excited to be partnering with Arnold Palmer, one of the most successful names in the game of golf. Arnold Palmer’s popularity is legendary and his name provides unquestioned authenticity to our products,” said McGeachy.

“It is a key strategic imperative that we build our branded portfolio. The licenses we added last year (e.g. Wolverine^®, Bone Collector^®, Eddie Bauer^®, and Haggar^®) delivered meaningful, profitable growth in fiscal 2012. Furthermore, the new licenses we added this year (e.g. Miss Me^®, The Sharper Image^®, Elie Tahari^®, Sperry^®, and Arnold Palmer^®) make our growth pipeline even stronger. We expect all of these nationally recognized consumer brands to increase future net sales, improve gross margin percentage, reduce our customer concentration risk and improve our mix of lower-margin private label business,” said McGeachy.

Outlook

“Although diminishing, our customer concentration risk remains. Nonetheless, we expect to see continued growth in our gifts segment and from the new licenses we’ve added to our portfolio,” commented McGeachy.

“We are focused on restoring shareholder value through improving operational efficiency, growing volume in our key product categories, and adding new licenses to our portfolio,” said McGeachy.

About Tandy Brands

Tandy Brands is a leading designer and marketer of branded men’s, women’s and children’s accessories, including belts, gifts and small leather goods. Merchandise is marketed under various national as well as private brand names through all major retail distribution channels.

Safe Harbor Language

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company has based these forward-looking statements on its current expectations about future events, estimates and projections about the industry in which it operates. Forward-looking statements are not guarantees of future performance. Actual results may differ materially from those suggested by these forward-looking statements as a result of a number of known and unknown risks and uncertainties that are difficult to predict, including, without limitation, general economic and business conditions, competition in the accessories and gifts markets, acceptance of the Company’s product offerings and designs, issues relating to distribution, the termination or non-renewal of any material licenses, the Company’s ability to maintain proper inventory levels, and a significant decrease in business from or loss of any major customers or programs. Those and other risks are more fully described in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements included in this release are made only as of the date hereof. Except as required under federal securities laws and the rules and regulations of the United States Securities and Exchange Commission, the Company does not undertake, and specifically declines, any obligation to update any of these statements or to publicly announce the results of any revisions to any forward-looking statements after the distribution of this release, whether as a result of new information, future events, changes in assumptions, or otherwise.

CONTACT: Tandy Brands Accessories, Inc.
         Rod McGeachy
         President and Chief Executive Officer
         214-519-5200

         Investor Relations
         Chuck Talley
         Chief Accounting Officer
         214-519-5200

VistaGen Therapeutics (VSTA) Increases Its Drug Rescue Opportunities With Right-of-First-Offer Agreement With Cato BioVentures and Cato Research

SOUTH SAN FRANCISCO, CA — (Marketwire) — 02/08/12 — VistaGen Therapeutics, Inc. (OTCBB: VSTA), a biotechnology company applying stem cell technology for drug rescue and cell therapy, has signed a strategic drug rescue agreement with Cato BioVentures and Cato Research.

The companies will join forces to identify, evaluate, rescue and develop once-promising new, small-molecule drug candidates discontinued in late-stage preclinical development by pharmaceutical developers due to heart or liver toxicity, despite positive efficacy data demonstrating their potential therapeutic and commercial benefits.

Shawn Singh, VistaGen’s Chief Executive Officer, stated, “Over the past 25 years, Dr. Allen Cato and Lynda Sutton have established Cato Research as a highly successful CRO with unique and long-standing relationships within a broad and diverse network of pharmaceutical companies and regulatory agencies around the world. This new agreement is a logical extension of our long-term relationship with both Cato BioVentures and Cato Research. It tightly aligns our stem cell technology-based drug rescue interests with Cato’s CRO growth goals and venture investment objectives. We believe the market demand for effective late-stage preclinical candidates with safety data generated with human heart cells and/or liver cells is strong and increasing. This relationship is yet another key component in our drug rescue ecosystem.”

Under the new agreement, when either Cato BioVentures or Cato Research first becomes aware of a new drug candidate meeting VistaGen’s drug rescue selection criteria, it will approach VistaGen with information about the candidate before any other organization. The expanded relationship is expected to provide VistaGen with potential drug rescue opportunities from within Cato’s broad CRO service and venture capital networks. If VistaGen rescues (generates a new chemical variant of) a drug rescue candidate presented by Cato Research or Cato BioVentures, VistaGen will discuss prospective CRO service opportunities for the new chemical entity with Cato Research before contacting any other CRO.

“By applying the power of human pluripotent stem cell technology, we believe VistaGen is transforming drug development. Its Human Clinical Trial in a Test Tube™ platform puts clinically relevant human heart and liver biology at the front end of the development process, long before human studies. We are pleased to join VistaGen’s efforts to identify and develop new drug candidates faster and less expensively through the use of its stem cell technology platform,” stated Allen Cato, M.D., Ph.D., co-founder and Chief Executive Officer of Cato Research.

About Cato Research and Cato BioVentures
Cato Research is a full-service contract research and development organization (CRO) with international resources dedicated to helping pharmaceutical and biotechnology companies efficiently and expeditiously navigate the regulatory approval process in order to bring new drugs, biologics and medical devices to the people who need them. Cato BioVentures is the venture capital affiliate of Cato Research and one of VistaGen’s largest institutional shareholders. For nearly 25 years, Cato BioVentures and Cato Research have partnered with entrepreneurs, academic institutions and a broad base of biotechnology and pharmaceutical companies to advance a robust portfolio of successful product development and commercialization programs.

About VistaGen Therapeutics
VistaGen is a biotechnology company applying human pluripotent stem cell technology for drug rescue and cell therapy. VistaGen’s drug rescue activities combine its human pluripotent stem cell technology platform, Human Clinical Trials in a Test Tube™, with modern medicinal chemistry to generate new chemical variants of once-promising small-molecule drug candidates. These are once-promising drug candidates discontinued by pharmaceutical companies during preclinical development due to heart or liver toxicity, despite positive efficacy data demonstrating their potential therapeutic and commercial benefits. VistaGen uses its pluripotent stem cell technology to generate early indications, or predictions, of how humans will ultimately respond to new drug candidates before they are ever tested in humans.

Additionally, VistaGen’s small molecule drug candidate, AV-101, is in Phase 1b development for treatment of neuropathic pain. Neuropathic pain, a serious and chronic condition causing pain after an injury or disease of the peripheral or central nervous system, affects approximately 1.8 million people in the U.S. alone. VistaGen plans to initiate Phase 2 clinical development of AV-101 in the fourth quarter of 2012. VistaGen is also exploring opportunities to leverage its current Phase 1 clinical program to enable additional Phase 2 clinical studies of AV-101 for epilepsy, Parkinson’s disease and depression. To date, VistaGen has been awarded over $8.5 million from the NIH for development of AV-101.

Visit VistaGen at http://www.VistaGen.com, follow VistaGen at http://www.twitter.com/VistaGen or view VistaGen’s Facebook page at http://www.facebook.com/VistaGen.

Cautionary Statement Regarding Forward Looking Statements
The statements in this press release that are not historical facts may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, risks related to regulatory approvals and the success of VistaGen’s ongoing clinical studies, including the safety and efficacy of its drug candidate, AV-101, the failure of future drug rescue programs related to VistaGen’s stem cell technology-based Human Clinical Trial in a Test Tube™ platform, its ability to enter into drug rescue collaborations, risks and uncertainties relating to the availability of substantial additional capital to support VistaGen’s research, development and commercialization activities, and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to AV-101 and any drug rescue variants identified and developed by VistaGen. These and other risks and uncertainties are identified and described in more detail in VistaGen’s filings with the Securities and Exchange Commission (SEC). These filings are available on the SEC’s website at www.sec.gov. VistaGen undertakes no obligation to publicly update or revise any forward-looking statements.

For More Information:

Shawn K. Singh, J.D.
Chief Executive Officer
VistaGen Therapeutics, Inc.
www.VistaGen.com
650-244-9990 x224
Investor.Relations@VistaGen.com

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