Acorn Energy, Inc., an energy technology holding company, today announced a definitive agreement for the sale of its subsidiary CoaLogix for $101 million to funds managed by private equity firm, Energy Capital Partners (“ECP”). Acorn anticipates a $61.8 million pre-tax proceed, or approximately $3.53 per outstanding Acorn share. Acorn Energy owns about 65% of CoaLogix on a fully diluted basis with the balance held by EnerTech Capital and CoaLogix management.
CoaLogix is the worldwide leader in selective catalytic reduction (SCR) management services and catalyst regeneration technologies that reduce nitrogen oxides (NOx) emissions in coal-fired electric utility power plants. With leading-edge technologies, a highly skilled workforce, and more than 160 years of combined senior management experience, CoaLogix works to help companies maintain compliance with stringent environmental regulations through technology, optimization and efficiency improvements. Most coal-fired utility plants in the United States use CoaLogix’s SCR catalysts and regeneration technologies creating a $1.5 billion market share in the US.
Acorn created CoaLogix in November 2007 to purchase SCR-Tech LLC and its related entities. Acorn’s original investment of $11.0 million was for 100% of CoaLogix. Later, Acorn invested an additional $7.2 million in CoaLogix for a total investment of $18.2 million. Acorn anticipates that its taxes on income for 2011, after giving effect to the transaction, will not exceed $5 million.
“Acorn provided needed resources and capital for CoaLogix to grow and become the leading US player in the SCR catalyst regeneration market over the past few years. ECP has the experience and capital to extend CoaLogix’ leading position in North America and beyond. We believe that the transaction is in the best interests of our shareholders as well as the future of CoaLogix,” stated John Moore, CEO of Acorn Energy in a press release Friday.
“We are excited to be joining forces with Energy Capital Partners and its successful track record of supporting companies across the energy sector. ECP’s substantial resources, expertise and power industry relationships will enable CoaLogix to continue to execute its aggressive expansion plans going forward,” stated Bill McMahon, CEO of CoaLogix in the recent sale announcement.
For more information on the sale of CoaLogix please visit www.acornenergy.com
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Friday, July 29, 2011
Ballard Power Systems (BLDP) Collaboration Agreement with Delta Power Solutions Announced
Ballard Power Systems announced execution of a collaboration agreement between Delta Power Solutions of India and Ballard’s wholly-owned subsidiary Dantherm Power to market clean energy power solutions using fuel cells in India. The deal is aimed at supplying backup power to telecom companies.
Dantherm and Delta will work together to establish and conduct field trials of Dantherm’s direct hydrogen 2-kilowatt (kW) DBX2000 fuel cell system as well as its 5kW DBX5000 fuel cell system, along with its systems control platform “Site Management & Control System”. Delta, a subsidiary of Thai company Delta Electronics, will monitor the test installations remotely at their network operations center.
Ballard CEO John Sheridan said the following, “This agreement represents an effective, managed approach to backup power market development in India. Delta will leverage its existing telecom industry relationships in order to identify interested customers, and Delta will provide on-the-ground support throughout the trial period. Onsite expertise and customer support is the key to gaining traction with solutions that are new to the market, such as fuel cells in the India telecom sector.”
Ballard expects the field trials to give a better picture of the Indian commercial fuel cell market and help identify the optimal fuel cell solutions. After that determination, Delta would be relied upon to create further marketing inroads through sales, distribution, and servicing in India.
Delta’s managing director Dalip Sharma expects the deal to be profitable for both companies. “We are very pleased to be working with PEM fuel cell products from premier providers such as Dantherm Power and Ballard. This collaborative partnership has all the right elements for a successful evaluation of the market opportunity and for potentially large-scale product roll-out down the road,” he said after the deal was signed.
Delta has a strong presence in India, serving telecom giants Indus, Bharti, Vodafone, Reliance and Idea Cellular, and is a leading provider of power management and thermal management solutions, as well as a major source for components, visual displays, industrial automation, networking products and renewable energy solutions. With sales offices worldwide and manufacturing plants in Taiwan, China, Thailand, Japan, Mexico, India, Brazil and Europe, the press release notes that it‘s “a global leader in power electronics… [and has] implemented green, lead-free production and recycling and waste management programs for many years.”
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Dantherm and Delta will work together to establish and conduct field trials of Dantherm’s direct hydrogen 2-kilowatt (kW) DBX2000 fuel cell system as well as its 5kW DBX5000 fuel cell system, along with its systems control platform “Site Management & Control System”. Delta, a subsidiary of Thai company Delta Electronics, will monitor the test installations remotely at their network operations center.
Ballard CEO John Sheridan said the following, “This agreement represents an effective, managed approach to backup power market development in India. Delta will leverage its existing telecom industry relationships in order to identify interested customers, and Delta will provide on-the-ground support throughout the trial period. Onsite expertise and customer support is the key to gaining traction with solutions that are new to the market, such as fuel cells in the India telecom sector.”
Ballard expects the field trials to give a better picture of the Indian commercial fuel cell market and help identify the optimal fuel cell solutions. After that determination, Delta would be relied upon to create further marketing inroads through sales, distribution, and servicing in India.
Delta’s managing director Dalip Sharma expects the deal to be profitable for both companies. “We are very pleased to be working with PEM fuel cell products from premier providers such as Dantherm Power and Ballard. This collaborative partnership has all the right elements for a successful evaluation of the market opportunity and for potentially large-scale product roll-out down the road,” he said after the deal was signed.
Delta has a strong presence in India, serving telecom giants Indus, Bharti, Vodafone, Reliance and Idea Cellular, and is a leading provider of power management and thermal management solutions, as well as a major source for components, visual displays, industrial automation, networking products and renewable energy solutions. With sales offices worldwide and manufacturing plants in Taiwan, China, Thailand, Japan, Mexico, India, Brazil and Europe, the press release notes that it‘s “a global leader in power electronics… [and has] implemented green, lead-free production and recycling and waste management programs for many years.”
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Technicolor to Buy Cinedigm (CIDM) Digital Delivery Assets
French firm Technicolor is set to acquire key Cinedigm assets and a minimum of 300 incremental satellite roof rights. The plan is part of Technicolor’s deployment of its North American digital cinema equipment and will give Technicolor about a 40% increase in market footprint, with its satellite network expanding to more than 1,100 locations in the United States and Canada.
The deal is unusual in that no financial details have been disclosed. But under its terms, Technicolor will become Cinedigm’s preferred content servicing partner, including post production and distribution services. Cinedigm’s main role under the arrangement appears to be that of research and development of next generation entertainment industry software. Also included is Technicolor’s licensing of Cinedigm’s CineSuite digital delivery tools and their CineXpress trailer distribution software.
The deal is expected to wrap up in September of this year, subject to the execution of definitive documents and satisfaction of certain closing conditions. The late-day press release called the deal “a strategic software design partnership between the two companies… expected to provide superior service and value, with greater scale and functionality, to the combined studio distribution customers of each Company.” It’s seen by the companies as an effort to take advantage of opportunities offered by a growing global cinema conversion to digital.
Wednesday’s statement hints that Cinedigm might be developing an appetite for acquisitions too: “The companies intend to expand their delivery agreement as Cinedigm’s content distribution business grows organically and through acquisitions.” Part of Cinedigm’s business model includes alternative and independent film distribution.
In announcing the deal, Cinedigm CEO Chris McGurk said, “Technicolor is the market leader and highly respected in the delivery business, with strong customer relationships both domestically and internationally that will allow Cinedigm to expand our software and content distribution businesses faster and more effectively [and] by providing Technicolor access to Cinedigm’s leading software and delivery tools like CineXpress, Technicolor will enhance its position as a global innovator and become an even stronger player in its core delivery business. This is a perfect strategic alliance.”
Echoing McGurk’s view, Technicolor CEO Frederic Rose observed that the transaction “will allow our Digital Cinema business to expand its market-leading electronic distribution footprint while continuing to provide the highest level of quality and security to our studio clients.”
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
The deal is unusual in that no financial details have been disclosed. But under its terms, Technicolor will become Cinedigm’s preferred content servicing partner, including post production and distribution services. Cinedigm’s main role under the arrangement appears to be that of research and development of next generation entertainment industry software. Also included is Technicolor’s licensing of Cinedigm’s CineSuite digital delivery tools and their CineXpress trailer distribution software.
The deal is expected to wrap up in September of this year, subject to the execution of definitive documents and satisfaction of certain closing conditions. The late-day press release called the deal “a strategic software design partnership between the two companies… expected to provide superior service and value, with greater scale and functionality, to the combined studio distribution customers of each Company.” It’s seen by the companies as an effort to take advantage of opportunities offered by a growing global cinema conversion to digital.
Wednesday’s statement hints that Cinedigm might be developing an appetite for acquisitions too: “The companies intend to expand their delivery agreement as Cinedigm’s content distribution business grows organically and through acquisitions.” Part of Cinedigm’s business model includes alternative and independent film distribution.
In announcing the deal, Cinedigm CEO Chris McGurk said, “Technicolor is the market leader and highly respected in the delivery business, with strong customer relationships both domestically and internationally that will allow Cinedigm to expand our software and content distribution businesses faster and more effectively [and] by providing Technicolor access to Cinedigm’s leading software and delivery tools like CineXpress, Technicolor will enhance its position as a global innovator and become an even stronger player in its core delivery business. This is a perfect strategic alliance.”
Echoing McGurk’s view, Technicolor CEO Frederic Rose observed that the transaction “will allow our Digital Cinema business to expand its market-leading electronic distribution footprint while continuing to provide the highest level of quality and security to our studio clients.”
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Sky Power Solutions Corp. (SPOW) Focused on Major Challenges to the Grid
One of the most serious problems facing the U.S. and other parts of the industrialized world today is the inadequacy of the electrical grid, along with the generating resources that power it. Although much has been made of the vulnerability of high-voltage electrical transmission systems to outside attack, a more systemic problem is the inherent inefficiency involved in maintaining sufficient generating capacity to meet peak electrical demand.
Since electricity is not easily stored, large scale power plants must be built with enough capacity to meet potential spikes in consumer demand, such as caused by widespread hot weather, even though those spikes may represent only a small percentage of total annual requirement. As a result, excess capacity sits dormant much of the time, while being pushed to the limit, and sometimes beyond its limit, during other times. The cost to build and constantly maintain such capacity is ultimately passed on to consumers and the nation as a whole.
Adding to this long-standing problem is the new prospect of increased demand brought on by the still uncertain use of plug-in electric cars. As major manufacturers begin to turn out larger numbers of such vehicles, the next ten years could see a million or more electricity hungry cars on the road, although the price of gas and the cost of electric cars will ultimately influence final numbers. If the cars are plugged in at night, when power usage is at a minimum, the excess capacity can be fired up to meet the new demand. But there is little doubt that many of the cars could be plugged in during the day, perhaps at new work-based charging stations.
An interesting approach to the problem is presented by Sky Power Solutions, Inc., developer of advanced electrical storage and residential solar power solutions. The company uses the newest lithium ion battery technology, together with a specially designed solar concentrating system, to provide individual users with a cost-effective and reliable source of solar electricity. The idea is that the excess power generated from the sun at the household level can be used for the individual’s own use, as well as to feed the grid, helping to alleviate the growing demand for electricity, and reduce the need for oversized power plants. Even though it would mean investment at the household level, the addition of such a decentralized resource would, it is hoped, make the grid as a whole more reliable.
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Since electricity is not easily stored, large scale power plants must be built with enough capacity to meet potential spikes in consumer demand, such as caused by widespread hot weather, even though those spikes may represent only a small percentage of total annual requirement. As a result, excess capacity sits dormant much of the time, while being pushed to the limit, and sometimes beyond its limit, during other times. The cost to build and constantly maintain such capacity is ultimately passed on to consumers and the nation as a whole.
Adding to this long-standing problem is the new prospect of increased demand brought on by the still uncertain use of plug-in electric cars. As major manufacturers begin to turn out larger numbers of such vehicles, the next ten years could see a million or more electricity hungry cars on the road, although the price of gas and the cost of electric cars will ultimately influence final numbers. If the cars are plugged in at night, when power usage is at a minimum, the excess capacity can be fired up to meet the new demand. But there is little doubt that many of the cars could be plugged in during the day, perhaps at new work-based charging stations.
An interesting approach to the problem is presented by Sky Power Solutions, Inc., developer of advanced electrical storage and residential solar power solutions. The company uses the newest lithium ion battery technology, together with a specially designed solar concentrating system, to provide individual users with a cost-effective and reliable source of solar electricity. The idea is that the excess power generated from the sun at the household level can be used for the individual’s own use, as well as to feed the grid, helping to alleviate the growing demand for electricity, and reduce the need for oversized power plants. Even though it would mean investment at the household level, the addition of such a decentralized resource would, it is hoped, make the grid as a whole more reliable.
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Thursday, July 28, 2011
Most Publicly Traded Companies are Making a Huge Mistake
Wouldn’t an investor that owned 10-20% of a company be entitled to management’s attention? Of course he would as his or her decisions could easily have a material effect on the company’s operations and ability to grow. Why then do so many publicly traded companies ignore the retail investor market when the segment represents a significant portion their shareholder base?
Of course, most of these companies do not even realize the mistake they are making. There are 30,000+ institutions in the world, each with stock purchasing power that far exceeds the typical retail investor. To them it is simply a matter of resource management; as workloads increase and budgets decline, it would only make sense to focus on institutions with more buying power.
However, the individual investor audience represents trillions of dollars in investable assets and it would be a mistake to completely ignore it. Because the most attractive segment of this audience makes investment decisions based on research and fundamentals, they often have long time horizons and become long term shareholders. Companies shouldn’t question the value of these individual investors.
As an investor relations company, we understand the importance of the average retail investor and work hard to connect the community with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
To learn more about our company and our clients, visit www.Clients.MissionIR.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Of course, most of these companies do not even realize the mistake they are making. There are 30,000+ institutions in the world, each with stock purchasing power that far exceeds the typical retail investor. To them it is simply a matter of resource management; as workloads increase and budgets decline, it would only make sense to focus on institutions with more buying power.
However, the individual investor audience represents trillions of dollars in investable assets and it would be a mistake to completely ignore it. Because the most attractive segment of this audience makes investment decisions based on research and fundamentals, they often have long time horizons and become long term shareholders. Companies shouldn’t question the value of these individual investors.
As an investor relations company, we understand the importance of the average retail investor and work hard to connect the community with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
To learn more about our company and our clients, visit www.Clients.MissionIR.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Spectranetics (SPNC) Posts Q2 Results reflecting Progress for Key Growth Initiatives
Spectranetics Corp., developer of single-use medical devices for the treatment of the cardiovascular system, today reported financial results for the second quarter and six months ended June 30, 2011.
Revenue for the second quarter of 2011 was $32.2 million, an increase of 7 percent over revenue of $30.0 million for the second quarter of 2010. Net income for the second quarter was $584,000, or $0.02 per diluted share, compared with net income of $91,000, or $0.00 per diluted share, in the second quarter of 2010.
The company reported a year-over-year 15 percent increase in lead management revenue to $11.5 million; laser system revenue increased 48 percent to $2.3 million; and service and other revenue increased 9 percent to $2.5 million.
While vascular intervention sales declined 1 percent to $15.8 million, segment revenue continued its turnaround from its lows in the fourth quarter of 2010, increasing sequentially by $1.2 million, or 8 percent, as compared with the first quarter of 2011.
“The second quarter results reflect continued progress on our key growth initiatives. The second consecutive quarter of sequential growth in our Vascular Intervention business, and the 15 percent growth in our lead management business demonstrate the growing demand for our portfolio of products,” Jason D. Hein, senior vice president of Sales, Marketing and Business Development for Spectranetics stated in the press release.
Revenue for the first half of 2011 rose 6 percent to $62.6 million, compared to $59.0 million reported for the first half of 2010. Net income for the first half of 2011 was $430,000, or $0.01 per diluted share, compared with a net loss of $867,000, or $0.03 per share, in the first half of 2010.
Year-to-date 2011 lead management revenue increased 14 percent to $22.8 million; laser system revenue increased 47 percent to $4.3 million; and service and other revenue increased 10 percent to $5.1 million.
Vascular intervention revenue in the first half of 2011 declined 3 percent to $30.5 million, compared with the first six months of 2010, but continued its turnaround with two consecutive quarters of sequential improvement since the fourth quarter of 2010.
For the remainder of the year, Spectranetics is focused on improving its revenue growth rate, with revenue expected in the range of $122.5 million-$126.5 million.
For more information visit www.spectranetics.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Revenue for the second quarter of 2011 was $32.2 million, an increase of 7 percent over revenue of $30.0 million for the second quarter of 2010. Net income for the second quarter was $584,000, or $0.02 per diluted share, compared with net income of $91,000, or $0.00 per diluted share, in the second quarter of 2010.
The company reported a year-over-year 15 percent increase in lead management revenue to $11.5 million; laser system revenue increased 48 percent to $2.3 million; and service and other revenue increased 9 percent to $2.5 million.
While vascular intervention sales declined 1 percent to $15.8 million, segment revenue continued its turnaround from its lows in the fourth quarter of 2010, increasing sequentially by $1.2 million, or 8 percent, as compared with the first quarter of 2011.
“The second quarter results reflect continued progress on our key growth initiatives. The second consecutive quarter of sequential growth in our Vascular Intervention business, and the 15 percent growth in our lead management business demonstrate the growing demand for our portfolio of products,” Jason D. Hein, senior vice president of Sales, Marketing and Business Development for Spectranetics stated in the press release.
Revenue for the first half of 2011 rose 6 percent to $62.6 million, compared to $59.0 million reported for the first half of 2010. Net income for the first half of 2011 was $430,000, or $0.01 per diluted share, compared with a net loss of $867,000, or $0.03 per share, in the first half of 2010.
Year-to-date 2011 lead management revenue increased 14 percent to $22.8 million; laser system revenue increased 47 percent to $4.3 million; and service and other revenue increased 10 percent to $5.1 million.
Vascular intervention revenue in the first half of 2011 declined 3 percent to $30.5 million, compared with the first six months of 2010, but continued its turnaround with two consecutive quarters of sequential improvement since the fourth quarter of 2010.
For the remainder of the year, Spectranetics is focused on improving its revenue growth rate, with revenue expected in the range of $122.5 million-$126.5 million.
For more information visit www.spectranetics.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Dunkin’ Brands Group (DNKN) IPO as Hot as Its Coffee
This week’s biggest IPO offered some hot trading Wednesday as shares of Dunkin’ Brands Group, the parent company of Dunkin’ Donuts, soared well past its $19 IPO price, to close at nearly $27.85, based on the company’s recognized potential for still unrealized domestic expansion.
Founded in 1950 in Quincy, Massachusetts, the company began franchising in 1955, and is now approaching 10,000 stores worldwide. About 2/3 of Dunkin’ stores are in the U.S., the vast majority of which are in the East. The lack of stores in the West is viewed as a prime opportunity for increased domestic branding and growth, with the chain looking to roughly double the number of U.S. stores over the next two decades.
Dunkin’ feels it’s in a strong position to take on Starbucks and McDonald’s, both of which are now considered focused more on the international market. Surprising to many is the fact that Dunkin’ Donuts is America’s largest retailer of coffee-by-the-cup, serving nearly a billion cups each year. Although the company also sells bagels, breakfast sandwiches, danishes, and, of course, all kinds of donuts, coffee provides the majority of its revenue, including grocery sales. The original proprietary coffee blend recipe used in 1950 is still the one used today, the foundation for a customer brand loyalty exceeding that of its competition.
Although planned growth is impressive, the strategy is to be careful, to ensure successful franchises as it expands on its largely working-class customer base. Its target market, in contrast to Starbuck’s target for higher-priced offerings, could stand it well during tough economic times. In addition, Dunkin’ Brands other major brand, Baskin-Robbins, is now under new management, and is seen as already undergoing a turn-around.
For additional information, visit the company’s website at www.DunkinDonuts.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Founded in 1950 in Quincy, Massachusetts, the company began franchising in 1955, and is now approaching 10,000 stores worldwide. About 2/3 of Dunkin’ stores are in the U.S., the vast majority of which are in the East. The lack of stores in the West is viewed as a prime opportunity for increased domestic branding and growth, with the chain looking to roughly double the number of U.S. stores over the next two decades.
Dunkin’ feels it’s in a strong position to take on Starbucks and McDonald’s, both of which are now considered focused more on the international market. Surprising to many is the fact that Dunkin’ Donuts is America’s largest retailer of coffee-by-the-cup, serving nearly a billion cups each year. Although the company also sells bagels, breakfast sandwiches, danishes, and, of course, all kinds of donuts, coffee provides the majority of its revenue, including grocery sales. The original proprietary coffee blend recipe used in 1950 is still the one used today, the foundation for a customer brand loyalty exceeding that of its competition.
Although planned growth is impressive, the strategy is to be careful, to ensure successful franchises as it expands on its largely working-class customer base. Its target market, in contrast to Starbuck’s target for higher-priced offerings, could stand it well during tough economic times. In addition, Dunkin’ Brands other major brand, Baskin-Robbins, is now under new management, and is seen as already undergoing a turn-around.
For additional information, visit the company’s website at www.DunkinDonuts.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Scorpex, Inc. (SRPX) Prepares to Capitalize on Mexico’s Waste Disposal Industry
The market for hazardous and industrial waste naturally increases in correlation with growth of the human population. Landfills have long been the method of waste disposal, but below the surface of the layers of dirt “hiding” our waste, reactions take place that create long-term environmental problems.
This is where Scorpex steps in. The company is executing its operational mission to own and operate a full-service waste disposal and recycling company. Its first facility will be located on a 26-acre property just outside Ensenada, Mexico, ironically less than three miles from the region’s current landfill. The property will house ten hazardous waste storage structures, with the first storage facility 80 percent complete.
Scorpex has partnered with IET of Danville, Ky., for the installation of a waste gasification plant on site. The IET solution is a thermal oxidation process that takes waste, transported by waste haulers, and drops it into an air-tight gasification cell. Once the cell is closed, the system is activated and the temperature of cell is raised to 800 degrees, without the presence oxygen. The waste is then turned into smoke, dust-free gas, and vented into secondary processor where it is mixed with room air and then ignited by pilot burners that creates hot air flow. This hot air stream can be reclaimed to create hot water and steam.
This gasification method burns off 95% of the waste’s volume, and allows for immediate processing of waste as it arrives at the plant. Even though the process is essentially emission free, IET provides their own scrubber design for all projects to give extra protection regardless of the contaminant. With so many great features, detailed in a recent press release, and full support included, it is obvious that Scorpex did their due diligence prior to selecting the required processing equipment for their operations.
For more information visit www.scorpex.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
This is where Scorpex steps in. The company is executing its operational mission to own and operate a full-service waste disposal and recycling company. Its first facility will be located on a 26-acre property just outside Ensenada, Mexico, ironically less than three miles from the region’s current landfill. The property will house ten hazardous waste storage structures, with the first storage facility 80 percent complete.
Scorpex has partnered with IET of Danville, Ky., for the installation of a waste gasification plant on site. The IET solution is a thermal oxidation process that takes waste, transported by waste haulers, and drops it into an air-tight gasification cell. Once the cell is closed, the system is activated and the temperature of cell is raised to 800 degrees, without the presence oxygen. The waste is then turned into smoke, dust-free gas, and vented into secondary processor where it is mixed with room air and then ignited by pilot burners that creates hot air flow. This hot air stream can be reclaimed to create hot water and steam.
This gasification method burns off 95% of the waste’s volume, and allows for immediate processing of waste as it arrives at the plant. Even though the process is essentially emission free, IET provides their own scrubber design for all projects to give extra protection regardless of the contaminant. With so many great features, detailed in a recent press release, and full support included, it is obvious that Scorpex did their due diligence prior to selecting the required processing equipment for their operations.
For more information visit www.scorpex.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Scorpex, Inc. (SRPX) Details Recently Announced $30 Million Equipment Agreement
Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, today announced additional details of its recently announced major equipment contract signed with International Environmental Technologies, Inc. (“IET”) for the acquisition and installation of waste gasification/thermal oxidation equipment as well as a license to use the technology.
Scorpex has agreed to a total purchase price of USD$30,000,000. As terms of the agreement, the purchase price will be paid in four payments: USD$9,000,000 upon the release of funds from the lender; USD$9,000,000 upon IET’s delivery to Scorpex of a certification that the shop drawings and other engineering work for the installation of the Equipment has been completed; USD$9,000,000 upon IET’s delivery to Scorpex of a certification that the erection of the steel framework for all two units has been completed; and USD$3,000,000 upon the final check out, testing of the unit and commissioning.
IET will install the equipment, train supervisory personnel to operate and maintain the equipment, provide a set of spare parts and issue certificates of completion. In addition, IET will provide a warranty for the equipment installed, ensuring that the equipment will be free from defects in materials and workmanship. If malfunction is reported within the warranty period, IET will repair or replace the defective or non-conforming part at no charge to Scorpex.
As stated in yesterday’s press release, IET’s proprietary technology can process waste simultaneously without presorting. The system is virtually silent and without odors, capable of reducing waste volume 95%. The system also features a lower capital investment than competition as well as lower operating costs. With an average construction time of only six to twelve months, Scorpex said it anticipates commencing full operations before the previously projected time frame.
Chief Executive Officer Joseph Caywood commented, “As I said previously, we have made remarkable progress and are very excited to be moving forward so quickly with our business strategy. Signing such a major equipment contract at the dawn of establishing our first waste disposal and processing plant is yet another strong vote of confidence by others who have chosen to join our initiative to address Mexico’s growing demand for industrial, hazardous and toxic waste management.”
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Scorpex has agreed to a total purchase price of USD$30,000,000. As terms of the agreement, the purchase price will be paid in four payments: USD$9,000,000 upon the release of funds from the lender; USD$9,000,000 upon IET’s delivery to Scorpex of a certification that the shop drawings and other engineering work for the installation of the Equipment has been completed; USD$9,000,000 upon IET’s delivery to Scorpex of a certification that the erection of the steel framework for all two units has been completed; and USD$3,000,000 upon the final check out, testing of the unit and commissioning.
IET will install the equipment, train supervisory personnel to operate and maintain the equipment, provide a set of spare parts and issue certificates of completion. In addition, IET will provide a warranty for the equipment installed, ensuring that the equipment will be free from defects in materials and workmanship. If malfunction is reported within the warranty period, IET will repair or replace the defective or non-conforming part at no charge to Scorpex.
As stated in yesterday’s press release, IET’s proprietary technology can process waste simultaneously without presorting. The system is virtually silent and without odors, capable of reducing waste volume 95%. The system also features a lower capital investment than competition as well as lower operating costs. With an average construction time of only six to twelve months, Scorpex said it anticipates commencing full operations before the previously projected time frame.
Chief Executive Officer Joseph Caywood commented, “As I said previously, we have made remarkable progress and are very excited to be moving forward so quickly with our business strategy. Signing such a major equipment contract at the dawn of establishing our first waste disposal and processing plant is yet another strong vote of confidence by others who have chosen to join our initiative to address Mexico’s growing demand for industrial, hazardous and toxic waste management.”
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
First Quarter 2011 Results Reported by Mastech Holdings Inc. (MHH)
Pittsburgh-based Mastech Holdings Inc. is a nationwide provider of information technology and specialized healthcare staffing services to hospitals and other healthcare facilities. The company announced its financial results for the first quarter ended March 31, 2011.
Revenues for the period came in at $19.9 million and represented a 27 percent increase over the corresponding quarter of 2010. Gross profit for the first quarter of 2011 totaled $3.8 million or approximately $800,000 above the gross profit for the first quarter of last year. Consolidated net income for the first quarter of 2011 totaled $37,000 or $0.01 per diluted share versus last year’s figure of $63,000 or $0.02 per diluted share.
Demand for Mastech’s IT staffing services remained solid in the first quarter as the company increased its billable consultant headcount by 3.5 percent and established IT branch operations in Chicago. According to Mastech, market conditions in the healthcare industry continue to show signs of improvement. It was this improvement which led to the company achieving sequential revenue growth for the third consecutive quarter.
Mastech’s balance sheet remains strong with $4.8 million of cash on hand and no outstanding bank debt. The company also has access to $8.7 million of credit under its existing revolving credit facility. For additional information on Mastech Holdings, please visit its website at www.mastech.com.
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Revenues for the period came in at $19.9 million and represented a 27 percent increase over the corresponding quarter of 2010. Gross profit for the first quarter of 2011 totaled $3.8 million or approximately $800,000 above the gross profit for the first quarter of last year. Consolidated net income for the first quarter of 2011 totaled $37,000 or $0.01 per diluted share versus last year’s figure of $63,000 or $0.02 per diluted share.
Demand for Mastech’s IT staffing services remained solid in the first quarter as the company increased its billable consultant headcount by 3.5 percent and established IT branch operations in Chicago. According to Mastech, market conditions in the healthcare industry continue to show signs of improvement. It was this improvement which led to the company achieving sequential revenue growth for the third consecutive quarter.
Mastech’s balance sheet remains strong with $4.8 million of cash on hand and no outstanding bank debt. The company also has access to $8.7 million of credit under its existing revolving credit facility. For additional information on Mastech Holdings, please visit its website at www.mastech.com.
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Wednesday, July 27, 2011
Trius Therapeutics, Inc. (TSRX) Receives $25 Million Upfront from Bayer Healthcare for Collaboration on Antibiotic to Fight Bacterial Infectious Diseases in Emerging Markets
Trius Therapeutics, Inc., a biopharmaceutical company focused on the discovery, development and commercialization of innovative antibiotics for life-threatening infections, today announced that Bayer Healthcare will pay $25 million upfront as well as 25 percent of future development costs to develop and commercialize Trius’s lead Phase 3 antibiotic, torezolid phosphate (torezolid). In addition, Trius is eligible to receive up to $69 million upon the achievement of certain development, regulatory and commercial milestones and will receive double-digit royalties on net sales of torezolid in the licensed territory.
The two companies aim to get global approval for torezolid as the drug of choice to combat acute bacterial skin and skin structure infections (ABSSSI) and pneumonia. Bayer will get the opportunity to sell the antibiotic in all countries in Asia including China and Japan, Africa, Latin America and the Middle East, but excluding North and South Korea. Trius will maintain full development and commercialization rights for the product outside those areas including the United States, Canada and the European Union.
“Bayer’s commitment to the infectious disease area and their depth and breadth of experience in these markets makes them an ideal partner for Trius,” Jeffrey Stein, Ph.D., President and CEO of Trius stated in today’s press release. “At the same time, consistent with our strategy, we have retained rights to the U.S. and E.U. markets where life-threatening infections from MRSA and other gram positive pathogens continue to be a significant concern.”
The antibiotic , torezolid phosphate, is an IV and orally administered second generation oxazolidinone in Phase 3 clinical development for the treatment of ABSSSI, the first such trial to be initiated under a Special Protocol Assessment (SPA). Trius holds an exclusive license to torezolid phosphate for territories outside of North and South Korea from Dong-A Pharmaceuticals. In addition to the company’s torezolid phosphate clinical program, it is currently conducting three preclinical programs using its proprietary discovery platform to develop antibiotics to treat infections caused by gram-negative bacteria.
“Bacterial infectious diseases represent one of the largest therapeutic areas in China and continue to grow rapidly there and in other emerging markets. This collaboration is a key element in our strategy of bringing innovative medicines to patients, especially in emerging markets,” Dr. Jorg Reinhardt, Chairman of the Board of Management of Bayer HealthCare, said in the press release.
The Bayer Group is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Bayer HealthCare, a subgroup of Bayer AG, is one of the world’s leading, innovative companies in the healthcare and medical products industry. Bayer HealthCare’s aim is to discover and manufacture products that will improve human and animal health worldwide.
For more information, visit www.triusrx.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
The two companies aim to get global approval for torezolid as the drug of choice to combat acute bacterial skin and skin structure infections (ABSSSI) and pneumonia. Bayer will get the opportunity to sell the antibiotic in all countries in Asia including China and Japan, Africa, Latin America and the Middle East, but excluding North and South Korea. Trius will maintain full development and commercialization rights for the product outside those areas including the United States, Canada and the European Union.
“Bayer’s commitment to the infectious disease area and their depth and breadth of experience in these markets makes them an ideal partner for Trius,” Jeffrey Stein, Ph.D., President and CEO of Trius stated in today’s press release. “At the same time, consistent with our strategy, we have retained rights to the U.S. and E.U. markets where life-threatening infections from MRSA and other gram positive pathogens continue to be a significant concern.”
The antibiotic , torezolid phosphate, is an IV and orally administered second generation oxazolidinone in Phase 3 clinical development for the treatment of ABSSSI, the first such trial to be initiated under a Special Protocol Assessment (SPA). Trius holds an exclusive license to torezolid phosphate for territories outside of North and South Korea from Dong-A Pharmaceuticals. In addition to the company’s torezolid phosphate clinical program, it is currently conducting three preclinical programs using its proprietary discovery platform to develop antibiotics to treat infections caused by gram-negative bacteria.
“Bacterial infectious diseases represent one of the largest therapeutic areas in China and continue to grow rapidly there and in other emerging markets. This collaboration is a key element in our strategy of bringing innovative medicines to patients, especially in emerging markets,” Dr. Jorg Reinhardt, Chairman of the Board of Management of Bayer HealthCare, said in the press release.
The Bayer Group is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Bayer HealthCare, a subgroup of Bayer AG, is one of the world’s leading, innovative companies in the healthcare and medical products industry. Bayer HealthCare’s aim is to discover and manufacture products that will improve human and animal health worldwide.
For more information, visit www.triusrx.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Scorpex, Inc. (SRPX) Announces Multi-Million Dollar Equipment Contract
Today after the closing bell, Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, announced it has entered into a major agreement with International Environmental Technologies, Inc. (“IET”) for the acquisition and installation of waste gasification/thermal oxidation equipment as well as a license to use the technology.
IET’s patented technology is capable of processing municipal waste, medical waste and hazardous waste simultaneously without presorting for maximum efficiency. The oxygen starved system virtually eliminates noise and noxious odors when operating while reducing waste volume by 95%. The design of the system also reduces breeding sites for scavengers, rodents, insects and disease that are sometimes found in other processes.
Commenting on the agreement, CEO Joseph Caywood stated, “Following our evaluation of various waste processing techniques and technologies, we found the solution offered by IET to be superior to those offered by competitors. Securing this technology was a crucial part of our business plan. We will provide additional details very soon.”
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
IET’s patented technology is capable of processing municipal waste, medical waste and hazardous waste simultaneously without presorting for maximum efficiency. The oxygen starved system virtually eliminates noise and noxious odors when operating while reducing waste volume by 95%. The design of the system also reduces breeding sites for scavengers, rodents, insects and disease that are sometimes found in other processes.
Commenting on the agreement, CEO Joseph Caywood stated, “Following our evaluation of various waste processing techniques and technologies, we found the solution offered by IET to be superior to those offered by competitors. Securing this technology was a crucial part of our business plan. We will provide additional details very soon.”
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Unilife Corp.’s (UNIS) Unifill Syringe Wows Healthcare Workers
Recently, Unilife Corp. took its Unifill® prefilled safety syringe to the APIC Conference in order to give the U.S. healthcare workers in attendance a sneak preview of this revolutionary device. Unilife was honored to have Dr. Mary Foley as its special guest at APIC. During the conference, Dr. Foley met with dozens of delegates from around the U.S., collecting their thoughts on the Unifill syringe and its potential benefits to healthcare workers and patients.
The feedback Unifill received at APIC was overwhelmingly positive, and included more than just a few ‘Wow!’, ‘Very Smooth’, ‘Awesome’, ‘Perfect’ and ‘Cool’ reactions. Unilife set up a demonstration booth and recorded many of the healthcare professionals’ reactions when they got to test the Unifill product themselves. To view a brief compellation of these responses, visit www.unilife.com
The APIC Conference brought together healthcare workers and infection control specialists from across the U.S to discuss ways to enhance and save the lives of nurses, improve patient care and prevent disease. Unilife exhibited the Unifill syringe, the world’s first and only prefilled syringe with fully passive (automatic) safety features integrated within the glass barrel, at the event. The Unifill syringe is strongly positioned to deliver optimal protection and intuitive use to healthcare workers and their patients that self-inject prescription medication at home. The Unifill syringe is now in production, and being supplied to interested pharmaceutical and biotechnology companies seeking to evaluate its use with their injectable drugs and vaccines.
Dr. Foley is one of the world’s foremost experts on healthcare worker safety. She is the Director at the Center for Nursing Research and Innovation at the University of California San Francisco (UCSF) School of Nursing. Last year, she received her PhD in nursing with her dissertation on the topic of needle-stick injuries and prevention policies. A registered nurse for more than 35 years, Dr. Foley was one of the first healthcare workers to recognize the emerging HIV-AIDS epidemic during her work at Saint Francis Memorial Hospital in San Francisco in the 1980s. After helping to secure the passage of the first Statewide laws in the U.S. mandating the use of safety medical devices in California, she played a key role in campaigning for the adoption of the Federal Needlestick Safety and Prevention Act.
Elected President of the American Nursing Association (ANA) in 2000, Dr. Foley was in the Oval Office of the White House when President Bill Clinton enacted the Act into law. She continues to write and lecture about healthcare policy, improving the workplace, and promoting safe care for workers and patients nationally and internationally. Dr. Foley has not received any financial payment from Unilife, and is an independent champion for enhancing injection safety practices in the U.S. and worldwide.
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
The feedback Unifill received at APIC was overwhelmingly positive, and included more than just a few ‘Wow!’, ‘Very Smooth’, ‘Awesome’, ‘Perfect’ and ‘Cool’ reactions. Unilife set up a demonstration booth and recorded many of the healthcare professionals’ reactions when they got to test the Unifill product themselves. To view a brief compellation of these responses, visit www.unilife.com
The APIC Conference brought together healthcare workers and infection control specialists from across the U.S to discuss ways to enhance and save the lives of nurses, improve patient care and prevent disease. Unilife exhibited the Unifill syringe, the world’s first and only prefilled syringe with fully passive (automatic) safety features integrated within the glass barrel, at the event. The Unifill syringe is strongly positioned to deliver optimal protection and intuitive use to healthcare workers and their patients that self-inject prescription medication at home. The Unifill syringe is now in production, and being supplied to interested pharmaceutical and biotechnology companies seeking to evaluate its use with their injectable drugs and vaccines.
Dr. Foley is one of the world’s foremost experts on healthcare worker safety. She is the Director at the Center for Nursing Research and Innovation at the University of California San Francisco (UCSF) School of Nursing. Last year, she received her PhD in nursing with her dissertation on the topic of needle-stick injuries and prevention policies. A registered nurse for more than 35 years, Dr. Foley was one of the first healthcare workers to recognize the emerging HIV-AIDS epidemic during her work at Saint Francis Memorial Hospital in San Francisco in the 1980s. After helping to secure the passage of the first Statewide laws in the U.S. mandating the use of safety medical devices in California, she played a key role in campaigning for the adoption of the Federal Needlestick Safety and Prevention Act.
Elected President of the American Nursing Association (ANA) in 2000, Dr. Foley was in the Oval Office of the White House when President Bill Clinton enacted the Act into law. She continues to write and lecture about healthcare policy, improving the workplace, and promoting safe care for workers and patients nationally and internationally. Dr. Foley has not received any financial payment from Unilife, and is an independent champion for enhancing injection safety practices in the U.S. and worldwide.
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
iPass, Inc. (IPAS) Expands Wi-Fi Reach in India via Spectranet Partnership
iPass, Inc., a company managing mobile connectivity for large enterprises and global service providers using mobility and cloud services, announced its expansion of Wi-Fi hotspot coverage in 10 Indian cities, including Mumbai, Delhi, Bangalore, Kolkata, Chennai, Hyderabad and throughout Delhi’s Indira Gandhi International Airport. The move comes through iPass’ partnership with Spectranet, an 11-year-old Indian pioneer broadband provider.
iPass network services VP Marcio Avillez noted, “Thanks to our Spectranet partnership, iPass has extended our Wi-Fi network within strategic locations in India. Indira Gandhi International Airport is the eighth largest airport in the world with over 25 million passengers traveling each year enabling many iPass users to connect to a stable and secure network there and throughout the country.”
Spectranet owns its own fiber-optic network and the deal fits nicely with iPass needs. Spectranet marketing and product development chief Sunando Bhattachary commented, “In India, the last-mile is the biggest challenge in getting a quality connection, which is why [we] invested heavily in our own fiber-optic network.”
IPass’ Open Mobile platform is a cloud-based service delivery system. It allows companies to enable their employees to make seamless connections through laptops, smart phones, or tablets to the iPass Mobile Network, which iPass says is “the world’s largest authenticated Wi-Fi network”, at the same time enabling IT departments to have complete visibility, as well as control of network usage, security and costs wherever their employees travel.
According to its website, the 15-year-old iPass has “thousands of enterprise customers,” and also offers Wi-Fi exchange services robust enough to support both the business and mass market requirements of service providers. The basis of its system is “combining a ‘zero-click’ mobile IP data offload solution with an integrated global Wi-Fi footprint for data roaming, simplifying user connectivity when traversing 3G or 4G networks and Wi-Fi.” This, says iPass, makes Wi-Fi access as easy to use as cellular and works like 3G data roaming, providing seamless authentication to preferred networks to create an “always on”, frictionless user experience.
The benefit of this arrangement to global service providers is to increase network infrastructure in a cost-effective manner using Wi-Fi by offloading mobile IP data traffic to multiple Wi-Fi networks, thereby reducing service delivery costs without requiring additional capital investment. Another benefit to providers is that iPass enables them to increase their market size by accessing an expanding Wi-Fi enabled device market.
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
iPass network services VP Marcio Avillez noted, “Thanks to our Spectranet partnership, iPass has extended our Wi-Fi network within strategic locations in India. Indira Gandhi International Airport is the eighth largest airport in the world with over 25 million passengers traveling each year enabling many iPass users to connect to a stable and secure network there and throughout the country.”
Spectranet owns its own fiber-optic network and the deal fits nicely with iPass needs. Spectranet marketing and product development chief Sunando Bhattachary commented, “In India, the last-mile is the biggest challenge in getting a quality connection, which is why [we] invested heavily in our own fiber-optic network.”
IPass’ Open Mobile platform is a cloud-based service delivery system. It allows companies to enable their employees to make seamless connections through laptops, smart phones, or tablets to the iPass Mobile Network, which iPass says is “the world’s largest authenticated Wi-Fi network”, at the same time enabling IT departments to have complete visibility, as well as control of network usage, security and costs wherever their employees travel.
According to its website, the 15-year-old iPass has “thousands of enterprise customers,” and also offers Wi-Fi exchange services robust enough to support both the business and mass market requirements of service providers. The basis of its system is “combining a ‘zero-click’ mobile IP data offload solution with an integrated global Wi-Fi footprint for data roaming, simplifying user connectivity when traversing 3G or 4G networks and Wi-Fi.” This, says iPass, makes Wi-Fi access as easy to use as cellular and works like 3G data roaming, providing seamless authentication to preferred networks to create an “always on”, frictionless user experience.
The benefit of this arrangement to global service providers is to increase network infrastructure in a cost-effective manner using Wi-Fi by offloading mobile IP data traffic to multiple Wi-Fi networks, thereby reducing service delivery costs without requiring additional capital investment. Another benefit to providers is that iPass enables them to increase their market size by accessing an expanding Wi-Fi enabled device market.
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Tuesday, July 26, 2011
Aastrom Biosciences Inc. (ASTM), FDA Reach Protocol Agreement for Phase 3 Clinical Trial of Multicellular Therapy
Aastrom Biosciences Inc., leading developer of patient-specific, expanded multicellular therapies for the treatment of severe, chronic cardiovascular diseases, has reached an agreement with the U.S. Food and Drug Administration (FDA) regarding the Special Protocol Assessment (SPA) for the design of the company’s phase 3 REVIVE-CLI clinical trial of ixmyelocel-T.
Ixmyelocel-T is the company’s expanded multicellular therapy, designed to treat patients with critical limb ischemia (CLI) who have no other treatment options. CLI leads to more than 160,000 limb amputations each year in the United States, making it the most severe form of peripheral artery disease. CLI is also fatal; approximately 25 percent of patients diagnosed with CLI will die within the 12 months of diagnosis, while fewer than 25 percent of patients survive more than four years following diagnosis.
Aastrom’s will enroll up to 594 no-option patients at approximately 80 clinical sites across the U.S. This phase 3 clinical trial will be a randomized, double-blind, placebo-controlled study that will include only CLI patients with existing tissue loss, such as ulcerations and gangrene.
“We greatly appreciate the guidance and support of the FDA staff, our phase 2 investigators and our phase 3 steering committee who have helped us reach final agreement on the SPA, a critical component to advancing ixmyelocel-T into phase 3 clinical testing,” Tim Mayleben, president and CEO of Aastrom stated in the press release.
Mayleben said the SPA confirms the company’s confidence that the design of the phase 3 trial, also supported by positive results from the previously conducted RESTORE-CLI phase 2b trial, which was the largest fully controlled cell-therapy study ever conducted in CLI, in patients who received treatment with ixmyelocel-T.
The therapy demonstrated a favorable safety profile and clinically meaningful and statistically significant benefit in time to treatment failure events. Aastrom will present the data for the phase 2b trial at a major medical meeting in November.
For more information visit www.aastrom.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Ixmyelocel-T is the company’s expanded multicellular therapy, designed to treat patients with critical limb ischemia (CLI) who have no other treatment options. CLI leads to more than 160,000 limb amputations each year in the United States, making it the most severe form of peripheral artery disease. CLI is also fatal; approximately 25 percent of patients diagnosed with CLI will die within the 12 months of diagnosis, while fewer than 25 percent of patients survive more than four years following diagnosis.
Aastrom’s will enroll up to 594 no-option patients at approximately 80 clinical sites across the U.S. This phase 3 clinical trial will be a randomized, double-blind, placebo-controlled study that will include only CLI patients with existing tissue loss, such as ulcerations and gangrene.
“We greatly appreciate the guidance and support of the FDA staff, our phase 2 investigators and our phase 3 steering committee who have helped us reach final agreement on the SPA, a critical component to advancing ixmyelocel-T into phase 3 clinical testing,” Tim Mayleben, president and CEO of Aastrom stated in the press release.
Mayleben said the SPA confirms the company’s confidence that the design of the phase 3 trial, also supported by positive results from the previously conducted RESTORE-CLI phase 2b trial, which was the largest fully controlled cell-therapy study ever conducted in CLI, in patients who received treatment with ixmyelocel-T.
The therapy demonstrated a favorable safety profile and clinically meaningful and statistically significant benefit in time to treatment failure events. Aastrom will present the data for the phase 2b trial at a major medical meeting in November.
For more information visit www.aastrom.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Juhl Wind Inc. (JUHL) Signs Agreement with Zinc Air to Install Environmentally Sound and Highly Flexible 1MW Storage Solution as Pilot for Future Roll Outs
Juhl Wind, a bold and established leader in developing community based wind power projects in the US/Canada, reported today signing of a letter of intent with Montana-based sustainable/smart grid-ready energy storage solutions developer Zinc Air, Inc., for the installation of an advanced 1MW storage system at the JUHL’s Woodstock Hills wind farm.
This powerful new storage system will be put to work at the Woodstock Hills wind farm near the Company’s HQ in Woodstock, Minnesota, where projections of the Zinc Air system’s optimal balance of environmental soundness and advanced technology will be thoroughly evaluated. The Zinc Air battery chemistry lowers cost by using locally abundant non-hazardous materials, resulting in a safer, simpler and more efficient solution.
Chairman and CEO of JUHL, Dan Juhl, cited the core, proprietary Zinc Redox flow battery technology utilized in the new storage system, for which the Zinc Air is widely known, as being a triumph of green engineering. The solution is also extremely competitive, engineered from the start to realize rapid payback periods, enabling the wind farm to store/shift wind power for maximized performance.
The integration of this storage solution with JUHL’s infrastructure at Woodstock Hill, which the Company acquired just this spring, achieves a target set at the time of acquisition for marrying the farm to what is now JUHL’s first utility-scale, storage system. A model that can be propagated via future projects and through the Company’s wind farmer partners.
This combined architecture is smart grid-ready and extremely flexible, making it perfect for utility operators looking to roll out wind power resource generators and dovetails nicely with JUHL’s overall operational profile. It is no stretch to say that the success of this initial project could set the stage for efflorescence and blooming of wind power in general, both throughout the Company’s primary target markets and beyond.
President of JUHL, John Mitola, underscored the significance of “competitive, reliable storage”, both for wind power entities and the entire utility grid. Pointing to ongoing due diligence with regard to additional wind farm acquisitions by JUHL, Mitola explained that the capacity to “bolt on” a dynamic/comprehensive and highly adaptable storage solution, means the Company can use the acquisition/upgrading loop as a massive growth vector.
President and CEO of Zinc Air, Dave Wilkins, was clearly excited to have Zinc Air so prominently established in the market by a major player like JUHL and affirmed Zinc Air’s intent to focus on wind and other renewable market’s for the storage technology.
Dan Juhl is confident that if the Company can effectively demonstrate the capacity to build a combination wind farm/storage solution for the cost of a new coal plant, JUHL and wind can stand toe-to-toe with competitors in the wholesale energy market.
A deployable comprehensive wind farm model is the goal, and the first phase of the new project at Woodstock Hill will try to secure a revenue arrangement from a utility buyer, while showcasing the Zinc Air battery technology.
For more information on Juhl Wind Inc. and today’s agreement, please visit the Company’s website at: www.juhlwind.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
This powerful new storage system will be put to work at the Woodstock Hills wind farm near the Company’s HQ in Woodstock, Minnesota, where projections of the Zinc Air system’s optimal balance of environmental soundness and advanced technology will be thoroughly evaluated. The Zinc Air battery chemistry lowers cost by using locally abundant non-hazardous materials, resulting in a safer, simpler and more efficient solution.
Chairman and CEO of JUHL, Dan Juhl, cited the core, proprietary Zinc Redox flow battery technology utilized in the new storage system, for which the Zinc Air is widely known, as being a triumph of green engineering. The solution is also extremely competitive, engineered from the start to realize rapid payback periods, enabling the wind farm to store/shift wind power for maximized performance.
The integration of this storage solution with JUHL’s infrastructure at Woodstock Hill, which the Company acquired just this spring, achieves a target set at the time of acquisition for marrying the farm to what is now JUHL’s first utility-scale, storage system. A model that can be propagated via future projects and through the Company’s wind farmer partners.
This combined architecture is smart grid-ready and extremely flexible, making it perfect for utility operators looking to roll out wind power resource generators and dovetails nicely with JUHL’s overall operational profile. It is no stretch to say that the success of this initial project could set the stage for efflorescence and blooming of wind power in general, both throughout the Company’s primary target markets and beyond.
President of JUHL, John Mitola, underscored the significance of “competitive, reliable storage”, both for wind power entities and the entire utility grid. Pointing to ongoing due diligence with regard to additional wind farm acquisitions by JUHL, Mitola explained that the capacity to “bolt on” a dynamic/comprehensive and highly adaptable storage solution, means the Company can use the acquisition/upgrading loop as a massive growth vector.
President and CEO of Zinc Air, Dave Wilkins, was clearly excited to have Zinc Air so prominently established in the market by a major player like JUHL and affirmed Zinc Air’s intent to focus on wind and other renewable market’s for the storage technology.
Dan Juhl is confident that if the Company can effectively demonstrate the capacity to build a combination wind farm/storage solution for the cost of a new coal plant, JUHL and wind can stand toe-to-toe with competitors in the wholesale energy market.
A deployable comprehensive wind farm model is the goal, and the first phase of the new project at Woodstock Hill will try to secure a revenue arrangement from a utility buyer, while showcasing the Zinc Air battery technology.
For more information on Juhl Wind Inc. and today’s agreement, please visit the Company’s website at: www.juhlwind.com
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Monday, July 25, 2011
Scorpex, Inc. (SRPX) Announces Additions to Board of Directors and Executive Team
Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, announced the appointment of Kenneth I. Denos to its Board of Directors, and Chene Gardner as interim Chief Financial Officer who will also serve on the Board of Directors. Furthermore, both individuals will be part of the audit committee, sharing in the responsibility of overseeing the audit preparation.
Kenneth Denos brings with him extensive top management experience as he has served as the Chief Executive Officer of numerous successful companies, both public and private, including Equus Total Return, Inc., SportsNuts, Inc., MCC Global N.V., and Moore, Clayton Capital Advisors, Inc. He has also served on the Board of Directors for Secure Netwerks, Inc., Healthcare Enterprise Group PLC and Tersus Energy PLC. Currently, Mr. Denos serves as Deputy Chairman of the Board of London Pacific & Partners, Inc., in addition to working in other endeavors. He earned a Bachelor of Science degree in Business Finance and Political Science, a Master of Business Administration Degree, and a Juris Doctor from the University of Utah.
Chene Gardner is currently serves Alto Group Holdings, Inc., a filer of reports pursuant to requirements of the Securities Exchange Act of 1934, as Chief Financial Officer. He is also an executive officer and director of Nano Dimensions, Inc. and an executive officer and director of Secure Netwerks, Inc. Mr. Gardner previously served Fuelstream, Inc. as the Financial Controller and has auditing and accounting experience with the firm Deloitte & Touche LLP, serving clients in the banking, manufacturing, and retail industries. Mr. Gardner holds Bachelor and Master of Accounting degrees from Weber State University.
Joseph Caywood, Chief Executive Officer, commented, “We are committed to strong corporate governance and believe these additions will further our efforts in this regard. With plans to continue adding proven leadership and executive talent to our board and executive team, Scorpex will continue to keep shareholders updated on further additions and other corporate developments.”
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Kenneth Denos brings with him extensive top management experience as he has served as the Chief Executive Officer of numerous successful companies, both public and private, including Equus Total Return, Inc., SportsNuts, Inc., MCC Global N.V., and Moore, Clayton Capital Advisors, Inc. He has also served on the Board of Directors for Secure Netwerks, Inc., Healthcare Enterprise Group PLC and Tersus Energy PLC. Currently, Mr. Denos serves as Deputy Chairman of the Board of London Pacific & Partners, Inc., in addition to working in other endeavors. He earned a Bachelor of Science degree in Business Finance and Political Science, a Master of Business Administration Degree, and a Juris Doctor from the University of Utah.
Chene Gardner is currently serves Alto Group Holdings, Inc., a filer of reports pursuant to requirements of the Securities Exchange Act of 1934, as Chief Financial Officer. He is also an executive officer and director of Nano Dimensions, Inc. and an executive officer and director of Secure Netwerks, Inc. Mr. Gardner previously served Fuelstream, Inc. as the Financial Controller and has auditing and accounting experience with the firm Deloitte & Touche LLP, serving clients in the banking, manufacturing, and retail industries. Mr. Gardner holds Bachelor and Master of Accounting degrees from Weber State University.
Joseph Caywood, Chief Executive Officer, commented, “We are committed to strong corporate governance and believe these additions will further our efforts in this regard. With plans to continue adding proven leadership and executive talent to our board and executive team, Scorpex will continue to keep shareholders updated on further additions and other corporate developments.”
About MissionIR:
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Friday, July 22, 2011
Acme United (ACU) grows Q2 U.S., Canada Sales – European Sales Slip
Acme United Corp., a global supplier of cutting, measuring and safety products to the school, home, office, hardware and industrial markets, today posted its second-quarter results for the three months ended June 30, 2011.
The company reported net sales for the quarter at $24.0 million, up 17 percent compared to $20.6 million in the comparable quarter of 2010.
Second-quarter net income was $1.7 million, or $.56 per diluted share, compared to $1.5 million, or $.48 per diluted share, for the comparable period last year, an increase of 11 percent in net income and 17 percent in diluted earnings per share.
Gross margins were 36.1 percent in the second quarter of 2011 compared to 36.7 percent in the comparable quarter of last year.
Operating profit for the second quarter increased 26 percent to $2.4 million compared to $1.9 million for the comparable period last year.
For the six-month period ended June 30, 2011, the company reported net sales for of $38.4 million, up 14 percent compared to $33.7 million in the same period in 2010.
Net income for the first half of 2011 was $1.8 million, or $0.60 per diluted share, compared to $1.7 million, or $.54 per diluted share, in the comparable period last year, representing a 5 percent increase in net income and 10 percent increase in diluted earnings per share.
Gross margins were 36.4 percent for the six-month period compared to 37.6 percent for the comparable period last year.
Operating profit was $2.6 million for the first half of 2011 increased 18 percent compared to $2.2 million for the comparable six months of last year.
The company reported a 22 percent increase in U.S. net sales for the second quarter; net sales in Canada increased 15 percent; while European net sales decreased 20 percent.
For more information visit http://www.acmeunited.com
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The company reported net sales for the quarter at $24.0 million, up 17 percent compared to $20.6 million in the comparable quarter of 2010.
Second-quarter net income was $1.7 million, or $.56 per diluted share, compared to $1.5 million, or $.48 per diluted share, for the comparable period last year, an increase of 11 percent in net income and 17 percent in diluted earnings per share.
Gross margins were 36.1 percent in the second quarter of 2011 compared to 36.7 percent in the comparable quarter of last year.
Operating profit for the second quarter increased 26 percent to $2.4 million compared to $1.9 million for the comparable period last year.
For the six-month period ended June 30, 2011, the company reported net sales for of $38.4 million, up 14 percent compared to $33.7 million in the same period in 2010.
Net income for the first half of 2011 was $1.8 million, or $0.60 per diluted share, compared to $1.7 million, or $.54 per diluted share, in the comparable period last year, representing a 5 percent increase in net income and 10 percent increase in diluted earnings per share.
Gross margins were 36.4 percent for the six-month period compared to 37.6 percent for the comparable period last year.
Operating profit was $2.6 million for the first half of 2011 increased 18 percent compared to $2.2 million for the comparable six months of last year.
The company reported a 22 percent increase in U.S. net sales for the second quarter; net sales in Canada increased 15 percent; while European net sales decreased 20 percent.
For more information visit http://www.acmeunited.com
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Thursday, July 21, 2011
Entegris Inc. (ENTG) Posts Solid Q2 Results Despite Softening Semiconductor Industry
Entegris Inc., a provider of a range of products for the semiconductor and high-tech industries, today reported its financial results for the second quarter ended July 2, 2011.
Second-quarter sales of $209.2 million represent an increase of 25 percent over the prior year. Net income was $32.5 million, or $0.24 per diluted share.
On an operating basis, Entegris reported an adjusted operating margin of nearly 21 percent of sales, marking a record high for the company, which it attributes in part to improved gross margin.
The company generated record cash from operations of $52 million, and ended the second quarter with cash and short-term investments of $191 million.
For the first half of fiscal 2011, sales increased 26 percent to $412.3 million compared to the first half of 2010.
Gideon Argov, president and CEO of Entegris, noted strong sales of specific products and said voiced his confidence that the company will overcome slack in the semiconductor industry.
“We continue to execute well, achieving a record quarter for sales, profits and cash flow. Sales of our unit-driven products including wafer shippers and liquid filters grew 6 percent sequentially,” Argov stated in the press release. “Despite signs of softening in the semiconductor industry, we are very encouraged by the long-term prospects for our new contamination control, substrate handling, and specialty materials solutions for next-generation manufacturing processes. In addition, we are confident that our operating model positions us to deliver attractive operating performance throughout the cycle.”
For the fiscal third quarter ending September 3, 2011, Entegris said it expects sales to range from approximately $180 million to $190 million.
For more information visit www.entegris.com
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Second-quarter sales of $209.2 million represent an increase of 25 percent over the prior year. Net income was $32.5 million, or $0.24 per diluted share.
On an operating basis, Entegris reported an adjusted operating margin of nearly 21 percent of sales, marking a record high for the company, which it attributes in part to improved gross margin.
The company generated record cash from operations of $52 million, and ended the second quarter with cash and short-term investments of $191 million.
For the first half of fiscal 2011, sales increased 26 percent to $412.3 million compared to the first half of 2010.
Gideon Argov, president and CEO of Entegris, noted strong sales of specific products and said voiced his confidence that the company will overcome slack in the semiconductor industry.
“We continue to execute well, achieving a record quarter for sales, profits and cash flow. Sales of our unit-driven products including wafer shippers and liquid filters grew 6 percent sequentially,” Argov stated in the press release. “Despite signs of softening in the semiconductor industry, we are very encouraged by the long-term prospects for our new contamination control, substrate handling, and specialty materials solutions for next-generation manufacturing processes. In addition, we are confident that our operating model positions us to deliver attractive operating performance throughout the cycle.”
For the fiscal third quarter ending September 3, 2011, Entegris said it expects sales to range from approximately $180 million to $190 million.
For more information visit www.entegris.com
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Scorpex, Inc. (SRPX) Praises US-Mexico Trucking Agreement
Scorpex, Inc., an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, today applauded the recent US-Mexican agreement allowing each country’s trucks to traverse the other’s highways. The agreement ends nearly two decades of quarreling between the two countries over a key provision of the 1994 NAFTA agreement.
As a result of the agreement, the high tariffs imposed by Mexico on dozens of U.S. products will be suspended when full cross-border traffic begins. Allowing long-haul trucking between the U.S. and Mexico is anticipated to create additional jobs and greater opportunity for both nations. The U.S. agriculture sector alone was negatively affected by these tariffs by an estimated $153 billion.
Chief Executive Officer Joseph Caywood commented, “I believe the lifting of these restrictions and tariffs carries significant weight for Scorpex. Not only does this agreement give Scorpex access to cross-border travel as necessary, it potentially feeds increased export, manufacturing and distribution in Mexico, subsequently driving the need for increased disposal of industrial waste.”
With its first facility located near Ensenada, Mexico, 85 miles from the U.S. border, Scorpex anticipates processing 800 tons of waste per day once equipment is installed and the facility is fully operational. The demand for waste disposal in the Baja area is already much higher than that, ensuring steady demand and abundant prospects for future growth.
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As a result of the agreement, the high tariffs imposed by Mexico on dozens of U.S. products will be suspended when full cross-border traffic begins. Allowing long-haul trucking between the U.S. and Mexico is anticipated to create additional jobs and greater opportunity for both nations. The U.S. agriculture sector alone was negatively affected by these tariffs by an estimated $153 billion.
Chief Executive Officer Joseph Caywood commented, “I believe the lifting of these restrictions and tariffs carries significant weight for Scorpex. Not only does this agreement give Scorpex access to cross-border travel as necessary, it potentially feeds increased export, manufacturing and distribution in Mexico, subsequently driving the need for increased disposal of industrial waste.”
With its first facility located near Ensenada, Mexico, 85 miles from the U.S. border, Scorpex anticipates processing 800 tons of waste per day once equipment is installed and the facility is fully operational. The demand for waste disposal in the Baja area is already much higher than that, ensuring steady demand and abundant prospects for future growth.
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MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
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Quepasa Corp. (QPSA) to Merge with myYearbook with Intention to become Public Market Leader
Social media technology company Quepasa Corp., owner of Quepasa Games and Latino social network Quepasa.com, today announced its merger with Insider Guides Inc., DBA myYearbook, for $100 million.
myYearbook is an online venue accessible on the Web or mobile device. Quepasa CEO John Abbott detailed the contributions myYearbook brings to the table, and the company’s expectations for future advances.
“With this merger, we intend to create nothing less than the public market leader in social discovery,” Abbott stated in the press release. “Combination with myYearbook nearly doubles the size of Quepasa’s existing user base while positioning the new company for significantly
higher growth in mobile and social games, advertising, and virtual currency. … We expect the scale of this combination to enable a new class of investor in Quepasa. We believe myYearbook’s proven track record in monetization and engagement will fuel significant future growth.”
In 2010, myYearbook generated $23.7 million in revenue, up 53 percent year-over-year, and a 315 percent increase in EBITDA at $4.9 million.
Geoff Cook, CEO of myYearbook, noted the Internet’s global appeal and how the companies will integrate their resources to maximize their online reach.
“Meeting new people is now — and has always been — one of the Internet’s core activities. This combination creates the scale needed to build the No. 1 player in social discovery. What excites me most about this opportunity is applying myYearbook’s platform for monetization and engagement to Quepasa’s fast-growing markets while also doubling the size of our development team to execute against an aggressive product pipeline focused on social, mobile, and virtual currency,” Cook stated.
The combined company anticipates consolidated TTM revenues and EBITDA of $33.6 million and $5.9 million, respectively, as of the 12 months ended March 31, 2011.
For more information visit www.Quepasa.com or www.myyearbook.com
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Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
myYearbook is an online venue accessible on the Web or mobile device. Quepasa CEO John Abbott detailed the contributions myYearbook brings to the table, and the company’s expectations for future advances.
“With this merger, we intend to create nothing less than the public market leader in social discovery,” Abbott stated in the press release. “Combination with myYearbook nearly doubles the size of Quepasa’s existing user base while positioning the new company for significantly
higher growth in mobile and social games, advertising, and virtual currency. … We expect the scale of this combination to enable a new class of investor in Quepasa. We believe myYearbook’s proven track record in monetization and engagement will fuel significant future growth.”
In 2010, myYearbook generated $23.7 million in revenue, up 53 percent year-over-year, and a 315 percent increase in EBITDA at $4.9 million.
Geoff Cook, CEO of myYearbook, noted the Internet’s global appeal and how the companies will integrate their resources to maximize their online reach.
“Meeting new people is now — and has always been — one of the Internet’s core activities. This combination creates the scale needed to build the No. 1 player in social discovery. What excites me most about this opportunity is applying myYearbook’s platform for monetization and engagement to Quepasa’s fast-growing markets while also doubling the size of our development team to execute against an aggressive product pipeline focused on social, mobile, and virtual currency,” Cook stated.
The combined company anticipates consolidated TTM revenues and EBITDA of $33.6 million and $5.9 million, respectively, as of the 12 months ended March 31, 2011.
For more information visit www.Quepasa.com or www.myyearbook.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Wednesday, July 20, 2011
AMAG Pharmaceuticals, Inc. (AMAG) to Merge with Allos Therapeutics, Resulting Combination Projects Some $60M in Annual Cost Savings
AMAG Pharmaceuticals, well known as the biopharmaceutical company behind the FERAHEME® injection for treating iron deficiency anemia in adult chronic kidney disease and Allos Therapeutics, developers of a revolutionary indication for relapsed or refractory peripheral T-cell lymphoma (PTCL), called FOLOTYN®, announced entry into a definitive merger agreement today.
An all-stock merger with total equity value of roughly $686M will not only drive home a projected $55-60M in annual cost savings synergies (a majority of which should be realized within the first fiscal year after closing the deal), but result in a powerhouse company that will be able to punch significantly above its fighting weight.
Terms of the deal, which has been approved by both company boards, will see Allos stockholders gaining 0.1282 shares of AMAG common stock for each share of Allos stock owned and will result in a balance of 61% ownership by AMAG stockholders, with Allos stockholders retaining 39% of the combined company.
The new board of directors will be a fusion of five members nominated by the AMAG board and four nominated by the Allos board, with President, MD and CEO of AMAG, Brian Pereira, retaining his positions and Paul Berns, President and CEO of Allos, serving on the board.
The Company will achieve numerous benefits as a result of the merger, ranging from enhanced brand presence due to product overlap in the target markets, to an extremely healthy combined cash position ($373.7M as of June 30). With a massive non-dialysis IV iron market in the US alone estimated to be serving some 1.6M Americans, worth some $400M, with only a tiny fraction of the market actually being treated, there is strong future for FERAHEME (FDA approval in June 2009). A similar size market is estimated for FOLOTYN (FDA accelerated approval, Sept. 2009 for single agent treatment in relapsed or refractory PTCL) and ongoing negotiations outside the US with various industry leaders are progressing for both products.
Pereira was clearly pleased with the merger and telegraphed the global potential of the resulting presence, pointing to collaborations that should get both products into multiple key global markets like China and the EU. Pereira confirmed that the resulting company would continue to innovate down the biopharmaceutical vector and benefit nicely in doing so, thanks to a stronger balance sheet and the kind of resources to make portfolio growth via “in-licensing or acquisition” of new products a snap.
For more information on the deal or on AMAG Pharmaceuticals, Inc., please visit the Company’s website at: www.amagpharma.com
For more information on FERAHEME: www.FERAHEME.com
For more information on FOLOTYN: www.FOLOTYN.com
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MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
An all-stock merger with total equity value of roughly $686M will not only drive home a projected $55-60M in annual cost savings synergies (a majority of which should be realized within the first fiscal year after closing the deal), but result in a powerhouse company that will be able to punch significantly above its fighting weight.
Terms of the deal, which has been approved by both company boards, will see Allos stockholders gaining 0.1282 shares of AMAG common stock for each share of Allos stock owned and will result in a balance of 61% ownership by AMAG stockholders, with Allos stockholders retaining 39% of the combined company.
The new board of directors will be a fusion of five members nominated by the AMAG board and four nominated by the Allos board, with President, MD and CEO of AMAG, Brian Pereira, retaining his positions and Paul Berns, President and CEO of Allos, serving on the board.
The Company will achieve numerous benefits as a result of the merger, ranging from enhanced brand presence due to product overlap in the target markets, to an extremely healthy combined cash position ($373.7M as of June 30). With a massive non-dialysis IV iron market in the US alone estimated to be serving some 1.6M Americans, worth some $400M, with only a tiny fraction of the market actually being treated, there is strong future for FERAHEME (FDA approval in June 2009). A similar size market is estimated for FOLOTYN (FDA accelerated approval, Sept. 2009 for single agent treatment in relapsed or refractory PTCL) and ongoing negotiations outside the US with various industry leaders are progressing for both products.
Pereira was clearly pleased with the merger and telegraphed the global potential of the resulting presence, pointing to collaborations that should get both products into multiple key global markets like China and the EU. Pereira confirmed that the resulting company would continue to innovate down the biopharmaceutical vector and benefit nicely in doing so, thanks to a stronger balance sheet and the kind of resources to make portfolio growth via “in-licensing or acquisition” of new products a snap.
For more information on the deal or on AMAG Pharmaceuticals, Inc., please visit the Company’s website at: www.amagpharma.com
For more information on FERAHEME: www.FERAHEME.com
For more information on FOLOTYN: www.FOLOTYN.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
International Stem Cell (ISCO) Initiates Series of Clinical Studies of Human-derived Stem Cells
International Stem Cell Corp. today announced it has launched a series of preclinical animal studies of neuronal cells derived from ISCO’s proprietary pluripotent stem cells from unfertilized eggs, with a long-term endpoint of creating a regenerative therapy for Parkinson’s disease (PD).
PD is a disease afflicting the central nervous system, with some symptoms stemming from the loss of dopaminergic neurons in the mid brain.
ISCO’s approach to develop cell-based therapy for the treatment of PD is first to derive neuronal cells successfully from human parthenogenetic stem cells (hpSC). The next step is to evaluate the in vivo safety, functionality and efficacy of hpSCs.
“The ability of neuronal cells to become a specific type of neuron is one of the most important properties that these cells must have to be used in cell-based therapy of neurological disorders. These studies will bring us one step closer to our goal of being able to treat PD,” Dr. Andrey Semechkin, CEO of ISCO stated in the press release.
ISCO uses unfertilized oocytes (eggs) to create hpSC, a method that boasts several advantages over other types of human stem cells. Like human embryonic stem cells (hESCs), hpSCs are pluripotent, which means they carry the ability to become almost any cell type in the body.
Where hpSCs differ from hESCs is in their ability to become a cell form that can be immunologically matched to millions of individuals, creating deeper potential for regenerative therapy.
For more information visit www.internationalstemcell.com
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MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
PD is a disease afflicting the central nervous system, with some symptoms stemming from the loss of dopaminergic neurons in the mid brain.
ISCO’s approach to develop cell-based therapy for the treatment of PD is first to derive neuronal cells successfully from human parthenogenetic stem cells (hpSC). The next step is to evaluate the in vivo safety, functionality and efficacy of hpSCs.
“The ability of neuronal cells to become a specific type of neuron is one of the most important properties that these cells must have to be used in cell-based therapy of neurological disorders. These studies will bring us one step closer to our goal of being able to treat PD,” Dr. Andrey Semechkin, CEO of ISCO stated in the press release.
ISCO uses unfertilized oocytes (eggs) to create hpSC, a method that boasts several advantages over other types of human stem cells. Like human embryonic stem cells (hESCs), hpSCs are pluripotent, which means they carry the ability to become almost any cell type in the body.
Where hpSCs differ from hESCs is in their ability to become a cell form that can be immunologically matched to millions of individuals, creating deeper potential for regenerative therapy.
For more information visit www.internationalstemcell.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
BIO-Key International, Inc. (BKYI) Announces Successful Deployment by Summa Health System for Fingerprint Biometrics
BIO-Key International, Inc., a company that engages in the development and marketing of fingerprint biometric technology and software solutions in the United States, recently announced the successful deployment by Summa Health System for BIO-Key’s fingerprint biometrics for compliance with strong authentication, as is required by the Ohio State Board of Pharmacy.
Summa Health System is one of the biggest integrated healthcare delivery systems in the state of Ohio and surrounds a network of community based health centers and hospitals, a health plan, an entrepreneurial entity, a physician hospital organization, medical education and research, and numerous foundations. Summa is nationally known for its excellence in care of patients and for its outstanding approaches to healthcare delivery and represents 2,000+ licensed, inpatient beds on numerous hospital campuses.
“Our mission is to provide the highest-quality, compassionate care to our patients and to contribute to a healthier community,” said Charles Ross, M.D., chief medical information officer at Summa Health System. “Upgrading from our older L-1/Identix fingerprint identification system to BIO-key’s solution was fast and easy because we were able to utilize all of the existing Identix biometric fingerprint readers that our staff was already trained and comfortable in using. Also, not having to replace our existing fingerprint readers represented a significant savings to our organization,” added Ross.
“BIO-key’s solution provides Summa with greater flexibility since we offer complete reader interoperability and as their system evolves and grows, Summa can add fingerprint readers from any of the major fingerprint reader manufacturers that can be used interchangeably with each other and their existing L1-Identix readers,” commented Mike DePasquale, CEO of BIO-key International. “Our biometric fingerprint identification complies with the Ohio Pharmacy Board two-factor authentication requirements.”
For more information on BIO-Key International, visit www.bio-key.com
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Summa Health System is one of the biggest integrated healthcare delivery systems in the state of Ohio and surrounds a network of community based health centers and hospitals, a health plan, an entrepreneurial entity, a physician hospital organization, medical education and research, and numerous foundations. Summa is nationally known for its excellence in care of patients and for its outstanding approaches to healthcare delivery and represents 2,000+ licensed, inpatient beds on numerous hospital campuses.
“Our mission is to provide the highest-quality, compassionate care to our patients and to contribute to a healthier community,” said Charles Ross, M.D., chief medical information officer at Summa Health System. “Upgrading from our older L-1/Identix fingerprint identification system to BIO-key’s solution was fast and easy because we were able to utilize all of the existing Identix biometric fingerprint readers that our staff was already trained and comfortable in using. Also, not having to replace our existing fingerprint readers represented a significant savings to our organization,” added Ross.
“BIO-key’s solution provides Summa with greater flexibility since we offer complete reader interoperability and as their system evolves and grows, Summa can add fingerprint readers from any of the major fingerprint reader manufacturers that can be used interchangeably with each other and their existing L1-Identix readers,” commented Mike DePasquale, CEO of BIO-key International. “Our biometric fingerprint identification complies with the Ohio Pharmacy Board two-factor authentication requirements.”
For more information on BIO-Key International, visit www.bio-key.com
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Synergy Resources (SYRG) Posts Record Revenues Boosted by Increased Oil & Gas Production
Synergy Resources Corp., a domestic oil and gas exploration and production company, today reported third-quarter results for the three months ended May 31, 2011, reflecting an increase in net oil and natural gas production for the quarter compared to the third quarter 2010.
Revenues increased 412 percent to a record $3.1 million for the third quarter of 2011 compared to $607,253 in the comparable quarter of 2010.
Operating income for the third quarter of 2011 was $547,272 compared to an operating loss of $51,094 in the third quarter of 2010.
Synergy narrowed its net loss to $291,612, or $(0.01) per share, for the third quarter 2011 from a net loss of $3.6 million, or $(0.30) per share, for the same year ago period.
As of May 31, 2011, the company reported operating cash flow of $3.8 million. Positive shareholders equity was $45.1 million for the quarter compared to negative $1.0 million the previous year.
The company reported oil and natural gas production of 467 Boe/d for the third quarter 2011, an increase of 213 percent compared to the third quarter of the year prior.
The company generated $5.2 million from the sale of mineral interests in 3,502 gross acres, and acquired interests in 88 oil and natural gas leases in the core Wattenberg Field. As of May 31, 2011, Synergy had 124 gross wells, 114 producing wells, eight wells in progress and two shut in wells.
“Fiscal 2011 is rapidly shaping up to be our company’s best year since inception. Accelerated drilling activity on our core Wattenberg projects has improved our production rates and continues to drive our strong revenue growth,” Edward Holloway, CEO and president of Synergy stated in the press release. “Our liquid-rich projects, located predominantly in the northeast and central portion of the Wattenberg, contributed to our record quarterly performance. In addition, we increased our prospective Niobrara acreage position and also engaged in several transactions that expanded our footprint in the Wattenberg Field and the D-J Basin.”
For more information visit www.SYRGinfo.com
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Revenues increased 412 percent to a record $3.1 million for the third quarter of 2011 compared to $607,253 in the comparable quarter of 2010.
Operating income for the third quarter of 2011 was $547,272 compared to an operating loss of $51,094 in the third quarter of 2010.
Synergy narrowed its net loss to $291,612, or $(0.01) per share, for the third quarter 2011 from a net loss of $3.6 million, or $(0.30) per share, for the same year ago period.
As of May 31, 2011, the company reported operating cash flow of $3.8 million. Positive shareholders equity was $45.1 million for the quarter compared to negative $1.0 million the previous year.
The company reported oil and natural gas production of 467 Boe/d for the third quarter 2011, an increase of 213 percent compared to the third quarter of the year prior.
The company generated $5.2 million from the sale of mineral interests in 3,502 gross acres, and acquired interests in 88 oil and natural gas leases in the core Wattenberg Field. As of May 31, 2011, Synergy had 124 gross wells, 114 producing wells, eight wells in progress and two shut in wells.
“Fiscal 2011 is rapidly shaping up to be our company’s best year since inception. Accelerated drilling activity on our core Wattenberg projects has improved our production rates and continues to drive our strong revenue growth,” Edward Holloway, CEO and president of Synergy stated in the press release. “Our liquid-rich projects, located predominantly in the northeast and central portion of the Wattenberg, contributed to our record quarterly performance. In addition, we increased our prospective Niobrara acreage position and also engaged in several transactions that expanded our footprint in the Wattenberg Field and the D-J Basin.”
For more information visit www.SYRGinfo.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Sky Power Solutions Corp. (SPOW) Comes Up with Creative Solution
Sky Power Solutions, a development stage alternative energy company, is focused on America’s overburdened and increasingly vulnerable electrical grid. It’s an issue understandably pertinent to Sky Power, since the company is directly involved in the electric car market. Sky Power is the exclusive provider of advanced lithium ion battery technology to Li-ion Motors Corp. for use in their all-electric, zero-emission automobiles. The company sees the growth in consumer acceptance of electric cars as placing a growing burden on the country’s grid just when electrical production capacity is leveling out. If demand for electricity grows faster than supply, the inevitable rise in prices could put a damper on future growth.
Sky Power has come up with a creative way to help address the grid issue, at the same time allowing it to diversify the application of its technologies. The company has developed a solution to combine their advanced lithium ion battery technology and a unique solar concentrating collector design to produce a one-of-a-kind residential solar power generation system. The remarkably efficient electrical generation properties of the Sky Power system will allow the residential user to actually send excess electricity back into the grid, running their electric meter backwards, and reducing their own grid consumption (and costs) by as much as 30%-40%.
The effect will be to augment the nation’s supply of electricity by bringing online thousands, and perhaps eventually millions, of decentralized residential power generators. This in turn will reduce the need to build more centralized power plants, facilities which must be paid for even though they may only be required during peak energy periods. As the number of electric car owners grows, they will be able to tap into this increased decentralized supply, by using their own system, or benefitting from the Sky Power systems used by others.
For additional information, visit the company’s website at www.SkyPowerSolutions.com
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MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Sky Power has come up with a creative way to help address the grid issue, at the same time allowing it to diversify the application of its technologies. The company has developed a solution to combine their advanced lithium ion battery technology and a unique solar concentrating collector design to produce a one-of-a-kind residential solar power generation system. The remarkably efficient electrical generation properties of the Sky Power system will allow the residential user to actually send excess electricity back into the grid, running their electric meter backwards, and reducing their own grid consumption (and costs) by as much as 30%-40%.
The effect will be to augment the nation’s supply of electricity by bringing online thousands, and perhaps eventually millions, of decentralized residential power generators. This in turn will reduce the need to build more centralized power plants, facilities which must be paid for even though they may only be required during peak energy periods. As the number of electric car owners grows, they will be able to tap into this increased decentralized supply, by using their own system, or benefitting from the Sky Power systems used by others.
For additional information, visit the company’s website at www.SkyPowerSolutions.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Tuesday, July 19, 2011
Check Point (CHKP) Posts Q2 Earnings, Business Highlights
Check Point Software Technologies Ltd., an Internet security provider, today posted its financial results for the second quarter ended June 30, 2011, surpassing previous quarterly guidance.
“The first half of 2011 produced great results. We continued to outperform our projections in the second quarter. These good results are driven by increased sales of enterprise gateways with more software blades attached. In particular, our IPS and Application Control software blades have shown significant growth in the second quarter,” Gil Shwed, company founder, chairman and CEO stated in the press release.
Total revenue increased 15 percent to $300.6 million compared to $261.1 million reported in the second quarter of 2010.
Operating income increased 23 percent to $150.0 million compared to $122.1 million in the comparable quarter of the year prior.
The company reported net income of $128.0 million, or $0.60 per diluted share, a 24 percent increase over net income of $102.9 million, or $0.48 per diluted share, for the second quarter of 2010.
As of June 30, 2011, Check Point had cash balances, marketable securities and short-term deposits of $2689.8 million compared to $2140.9 million in the comparable three months of the year prior.
The company also pointed out several business highlights for the quarter, including the roll-out of two new products: ZoneAlarm SocialGuard, which enables parents to protect their children from social threats found online; and ZoneAlarm 2012 Suite, a cloud-based service that detects existing and emerging threats.
“Our security focus is continuing to pay off. I’m pleased to see that customers are adopting more software blades to enhance their threat protection and raise the level of security in their organization,” Shwed concluded. “We will continue to deliver on our 3D security vision combining policy, people and enforcement to provide the best protection for our customers.”
For more information visit www.checkpoint.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
“The first half of 2011 produced great results. We continued to outperform our projections in the second quarter. These good results are driven by increased sales of enterprise gateways with more software blades attached. In particular, our IPS and Application Control software blades have shown significant growth in the second quarter,” Gil Shwed, company founder, chairman and CEO stated in the press release.
Total revenue increased 15 percent to $300.6 million compared to $261.1 million reported in the second quarter of 2010.
Operating income increased 23 percent to $150.0 million compared to $122.1 million in the comparable quarter of the year prior.
The company reported net income of $128.0 million, or $0.60 per diluted share, a 24 percent increase over net income of $102.9 million, or $0.48 per diluted share, for the second quarter of 2010.
As of June 30, 2011, Check Point had cash balances, marketable securities and short-term deposits of $2689.8 million compared to $2140.9 million in the comparable three months of the year prior.
The company also pointed out several business highlights for the quarter, including the roll-out of two new products: ZoneAlarm SocialGuard, which enables parents to protect their children from social threats found online; and ZoneAlarm 2012 Suite, a cloud-based service that detects existing and emerging threats.
“Our security focus is continuing to pay off. I’m pleased to see that customers are adopting more software blades to enhance their threat protection and raise the level of security in their organization,” Shwed concluded. “We will continue to deliver on our 3D security vision combining policy, people and enforcement to provide the best protection for our customers.”
For more information visit www.checkpoint.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
HotCloud Mobile, Inc. (HOTM) Provides Investors with Corporate Update
HotCloud Mobile, a top supplier of wireless products/services, from the hottest new phones and accessories for sale on the Company’s website, to exclusive mobile content and apps, provided a quarterly update to stakeholders today.
CEO of HOTM, David Bleeden, assured that the Company is dedicated to transparency and will continue to release such quarterly updates, as well as interim letters to shareholders, in addition to the already filed/required periodic filings with the SEC and newsworthy press releases. Bleeden affirmed that because HOTM is a start-up, it is crucial to the situational awareness and therefore confidence of the market that the constant flurry of activity behind the scenes is telegraphed in an effective manner, specifically for retail and institutional investors.
Bleeden pointed to the large historical customer base and “solid industry relationships” already rigorously cultivated by HOTM and explained how important fully leveraging these positions will be to achieving the Company’s projected growth trajectory. Via partnerships with FanMaxx, MacroSolve, and NexBoom, HOTM is able to experience rapid, organic growth, while adding substantial value per customer by using “patented, state-of-the-art, viral, social mobile technologies.”
Bleeden indicated plans to build out a multi-channel distribution framework through HOTM subsidiary, Stars Wireless, Inc., was already underway with the intent of being able to fully manage retail and wholesale channels. Bleeden further explained that the Company’s HotCloudMobile.com direct-to-consumer website, where HOTM sells the hottest new mobile handsets and accessories, would typify this fully operational retail/wholesale pipeline. Stars Wireless is destined to be the corner stone of HOTM’s equipment business and Bleeden assured stakeholders that it would have an industry veteran who really knows this business at the helm.
Bleeden described this marriage of “world-class products and distribution” at both retail and wholesale levels, with the hottest cutting-edge technologies, as the most fertile soil for growth. Pointing to the initial technology partnership, which was established with MacroSolve, Bleeden explained that the novel, patented technology would allow HOTM, as one of the first vendors of licensed mobile applications under the new patent, considerable advantage in the sector. This is particularly important when approaching potential licensees who are keen to the explosive private-labeled mobile applications space.
Bleeden then talked about the FanMaxx partnership and the shrewd move to develop an app targeting celebrities, athletes, entertainers and other buzz-worthy personages. The app is intended to help maximize the user experience for fans, while offering a seamless means of monetizing the fan base. Bleeden asserted that negotiations are ongoing with several potential licensees in the run up to the FanMaxx app launch slated for August, 2011.
The NexBoom marketing and distribution partnership rounds out developments for the quarter, as HOTM will offer its customer base and distribution muscle to the roll out of NexBoom’s tablet computer. The Company intends to offer a suite of co-branded mobile applications for the tablet, along with a premium mobile content platform. NexBoom will also help market/distribute HOTM’s apps to its own up to 100M user social media network.
Bleeden summed things up by citing a recent study by the world’s second largest app store, GetJar, which put a $17.5B price tag on the on the app market alone in the next three years. With major retailers selling iPhones and Androids in record numbers, there is an incredibly large market to grab real estate in.
For more information on HOTM and to check out their wide selection of products and services, please visit the Company’s website at: http://www.hotcloud.net and http://www.hotcloudmobile.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
CEO of HOTM, David Bleeden, assured that the Company is dedicated to transparency and will continue to release such quarterly updates, as well as interim letters to shareholders, in addition to the already filed/required periodic filings with the SEC and newsworthy press releases. Bleeden affirmed that because HOTM is a start-up, it is crucial to the situational awareness and therefore confidence of the market that the constant flurry of activity behind the scenes is telegraphed in an effective manner, specifically for retail and institutional investors.
Bleeden pointed to the large historical customer base and “solid industry relationships” already rigorously cultivated by HOTM and explained how important fully leveraging these positions will be to achieving the Company’s projected growth trajectory. Via partnerships with FanMaxx, MacroSolve, and NexBoom, HOTM is able to experience rapid, organic growth, while adding substantial value per customer by using “patented, state-of-the-art, viral, social mobile technologies.”
Bleeden indicated plans to build out a multi-channel distribution framework through HOTM subsidiary, Stars Wireless, Inc., was already underway with the intent of being able to fully manage retail and wholesale channels. Bleeden further explained that the Company’s HotCloudMobile.com direct-to-consumer website, where HOTM sells the hottest new mobile handsets and accessories, would typify this fully operational retail/wholesale pipeline. Stars Wireless is destined to be the corner stone of HOTM’s equipment business and Bleeden assured stakeholders that it would have an industry veteran who really knows this business at the helm.
Bleeden described this marriage of “world-class products and distribution” at both retail and wholesale levels, with the hottest cutting-edge technologies, as the most fertile soil for growth. Pointing to the initial technology partnership, which was established with MacroSolve, Bleeden explained that the novel, patented technology would allow HOTM, as one of the first vendors of licensed mobile applications under the new patent, considerable advantage in the sector. This is particularly important when approaching potential licensees who are keen to the explosive private-labeled mobile applications space.
Bleeden then talked about the FanMaxx partnership and the shrewd move to develop an app targeting celebrities, athletes, entertainers and other buzz-worthy personages. The app is intended to help maximize the user experience for fans, while offering a seamless means of monetizing the fan base. Bleeden asserted that negotiations are ongoing with several potential licensees in the run up to the FanMaxx app launch slated for August, 2011.
The NexBoom marketing and distribution partnership rounds out developments for the quarter, as HOTM will offer its customer base and distribution muscle to the roll out of NexBoom’s tablet computer. The Company intends to offer a suite of co-branded mobile applications for the tablet, along with a premium mobile content platform. NexBoom will also help market/distribute HOTM’s apps to its own up to 100M user social media network.
Bleeden summed things up by citing a recent study by the world’s second largest app store, GetJar, which put a $17.5B price tag on the on the app market alone in the next three years. With major retailers selling iPhones and Androids in record numbers, there is an incredibly large market to grab real estate in.
For more information on HOTM and to check out their wide selection of products and services, please visit the Company’s website at: http://www.hotcloud.net and http://www.hotcloudmobile.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Perma-Fix Environmental (PESI) to Acquire Homeland Security Capital (HOMS) Subsidiary
Perma-Fix Environmental Services Inc., a national environmental services company providing unique mixed waste and industrial waste management services, today announced it will acquire Safety and Ecology Holdings Corp. (SEC) from Homeland Security Capital Corp. for approximately $24.5 million.
SEC specializes in the remediation of nuclear materials for the U.S. Department of Energy, U.S. Department of Defense, as well as other federal agencies. In 2010 the company generated approximately $86.0 million in revenue and $3.3 million in net income. Perma-Fix said it expects the acquisition will be accretive to earnings, excluding any one-time acquisition-related expenses.
Perma-Fix chairman and CEO Dr. Louis F. Centofanti said the SEC acquisition will enhance Perma-Fix’s market position and nuclear service capabilities.
“The acquisition of SEC dramatically expands our nuclear services capabilities. On a combined basis, we can now offer customers, both government and commercial, one of the broadest and most comprehensive end-to-end nuclear waste solutions in the industry,” Dr. Centofanti stated in the press release. “We believe that this expansion of our nuclear service capabilities, coupled with our existing nuclear waste treatment expertise, clearly places us at the forefront of the industry and should enhance our value to our customers and our shareholders. SEC brings a highly qualified management team who we feel will integrate well and complement our current management.”
For SEC, the deal will create a solid base to expand its solutions.
“We are excited to become a part of Perma-Fix Environmental Services, a true leader and innovator in the nuclear services industry. As we unite through this transaction, our technologies and capabilities provide a much broader platform from which to grow the business, offering complete solutions to our customers,” Christopher Leichtweis, CEO of SEC, stated.
Perma-Fix will pay Homeland $22.0 million in cash, along with a three-year unsecured $2.5 million promissory note with a 6 percent annual interest rate. The acquisition is expected to be completed during the third quarter of 2011.
For more information visit www.perma-fix.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
SEC specializes in the remediation of nuclear materials for the U.S. Department of Energy, U.S. Department of Defense, as well as other federal agencies. In 2010 the company generated approximately $86.0 million in revenue and $3.3 million in net income. Perma-Fix said it expects the acquisition will be accretive to earnings, excluding any one-time acquisition-related expenses.
Perma-Fix chairman and CEO Dr. Louis F. Centofanti said the SEC acquisition will enhance Perma-Fix’s market position and nuclear service capabilities.
“The acquisition of SEC dramatically expands our nuclear services capabilities. On a combined basis, we can now offer customers, both government and commercial, one of the broadest and most comprehensive end-to-end nuclear waste solutions in the industry,” Dr. Centofanti stated in the press release. “We believe that this expansion of our nuclear service capabilities, coupled with our existing nuclear waste treatment expertise, clearly places us at the forefront of the industry and should enhance our value to our customers and our shareholders. SEC brings a highly qualified management team who we feel will integrate well and complement our current management.”
For SEC, the deal will create a solid base to expand its solutions.
“We are excited to become a part of Perma-Fix Environmental Services, a true leader and innovator in the nuclear services industry. As we unite through this transaction, our technologies and capabilities provide a much broader platform from which to grow the business, offering complete solutions to our customers,” Christopher Leichtweis, CEO of SEC, stated.
Perma-Fix will pay Homeland $22.0 million in cash, along with a three-year unsecured $2.5 million promissory note with a 6 percent annual interest rate. The acquisition is expected to be completed during the third quarter of 2011.
For more information visit www.perma-fix.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Scorpex, Inc. (SRPX) Details Current Site Status and Announces Plans for Further Construction
Today before the opening bell, Scorpex, Inc. reported the current status of its 26-acre site located at Fraccion A-2 Del Rancho El Encinito KM 18.7 Carretera A Ensenada – OJOS Delegacion Real Del Castillo, Ensenada, B.C.CP 22800. Located less than two miles from the current landfill near Ensenada, Mexico, the site was chosen after consultation with numerous officials and realtors.
On-site improvements recently completed include a 10,000 square foot specifically-designed storage facility with 22 foot ceiling, a “catch” drainage system, and emergency sprinkler system. Property upgrades include a water reservoir, septic system and one mile of 13 foot high security fencing around the property. Additionally, the company has completed extensive land use, permitting and ecological studies. The property has undergone three years of applications, permitting and governmental required studies.
Joseph Caywood, Chief Executive Officer, commented, “We have made remarkable progress over the past several years, building a solid foundation for moving forward. The Company’s near-term plans include paved roads, complete storage facilities, scales, construction of a larger guard shack, on-site offices, lights on perimeter of property, additional wiring, engaging two construction companies and installation of gasification/thermal oxidation equipment.”
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
On-site improvements recently completed include a 10,000 square foot specifically-designed storage facility with 22 foot ceiling, a “catch” drainage system, and emergency sprinkler system. Property upgrades include a water reservoir, septic system and one mile of 13 foot high security fencing around the property. Additionally, the company has completed extensive land use, permitting and ecological studies. The property has undergone three years of applications, permitting and governmental required studies.
Joseph Caywood, Chief Executive Officer, commented, “We have made remarkable progress over the past several years, building a solid foundation for moving forward. The Company’s near-term plans include paved roads, complete storage facilities, scales, construction of a larger guard shack, on-site offices, lights on perimeter of property, additional wiring, engaging two construction companies and installation of gasification/thermal oxidation equipment.”
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Sino Clean Energy, Inc. (SCEI) Announces Non-Binding Agreement to Acquire 60% Stake in Foshan Nan Hai CWSF Co., Ltd
Sino Clean Energy, a leading producer and distributor of coal-water slurry fuel (“CWSF”) in China, yesterday announced it has signed a non-binding preliminary agreement to acquire Crown Energy Limited, which holds as its sole business a 60 percent stake in Foshan Nan Hai.
Foshan Nan Hai is widely recognized as the largest producer of CWSF in China. Foshan Nan Hai was founded in 2003 and has an installed capacity of 1.2 metric tons and reserved capacity of 1 million tons. The company is located in Foshan City, Guangdong Province, where the local government promotes CWSF for energy conservation and carbon emission reduction. Foshan Nan Hai supplies to the largest CWSF boiler in China.
Baowen Ren, Chairman and CEO of Sino Clean Energy stated, “We believe that Foshan Nan Hai is a significant producer of CWSF producer in China and that the local market it serves shows strong growth potential. The Company is fortunate to have the opportunity to consider the investment, which is in line with our business development strategy. Based on the results of our investigations, the Company’s production capacity in Guangdong Province could be strengthened if we elect to complete this acquisition.”
If after due diligence, Sino Clean Energy decides to complete the acquisition, it will control a 60 percent stake in Foshan Nan Hai.
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Foshan Nan Hai is widely recognized as the largest producer of CWSF in China. Foshan Nan Hai was founded in 2003 and has an installed capacity of 1.2 metric tons and reserved capacity of 1 million tons. The company is located in Foshan City, Guangdong Province, where the local government promotes CWSF for energy conservation and carbon emission reduction. Foshan Nan Hai supplies to the largest CWSF boiler in China.
Baowen Ren, Chairman and CEO of Sino Clean Energy stated, “We believe that Foshan Nan Hai is a significant producer of CWSF producer in China and that the local market it serves shows strong growth potential. The Company is fortunate to have the opportunity to consider the investment, which is in line with our business development strategy. Based on the results of our investigations, the Company’s production capacity in Guangdong Province could be strengthened if we elect to complete this acquisition.”
If after due diligence, Sino Clean Energy decides to complete the acquisition, it will control a 60 percent stake in Foshan Nan Hai.
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Monday, July 18, 2011
Move, Inc. (MOVE) Completes Strategic Acquisition of SocialBios to Integrate Social Networking and Real Estate
Online real estate company Move, Inc. today announced it has acquired social search platform company SocialBios to support Move’s entrance into social networking and to enhance its current real estate services.
SocialBios creates an online hub for individuals and companies to collaborate their online profiles through “About Us” pages, allowing for the discovery of shared connections on various other social networking sites such as Facebook, LinkedIn and Twitter.
Move’s plan is to integrate its online real estate network with SocialBios’ platform to develop products that connect people with real estate professionals.
“Real estate is inherently a social business. Today’s search experience is highly interactive and instant with the explosion of mobile in real estate. We’re uniquely positioned to lead our industry and connect people naturally through their social graph,” Scott Boecker, chief product officer at Move stated in the press release. “This acquisition brings a new element of discovery and creativity to our online real estate marketplace as we evolve our web, mobile and social search experiences.”
Move isn’t alone in its recognition of the potential SocialBios provides to the real estate industry. SocialBios was voted 2011 ‘Best Tech Startup’ winner at Inman Connect NYC by real estate industry leaders who viewed the new technology as the one that would most benefit their industry.
As part of the acquisition agreement, SocialBios founder Ernie Graham and co-founders Ira McMahon and Andrew Van Tassel will join the product development team at Move.
“We’re very excited to join Move and the talented team that continually delivers great products and services based on the premise of connection,” Ernie Graham, general manager for Move’s SocialBios platform stated. “By using the current SocialBios platform as a springboard and leveraging Move’s product and technology assets, we’ll take the concept of social capital discovery and create new ways to expedite higher quality connections between agents and consumers. We’re looking forward to the road ahead and transcending the traditional boundaries within our industry of how to drive better client-agent relationships.”
The financial terms of the acquisition were not released.
For more information visit www.SocialBios.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
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SocialBios creates an online hub for individuals and companies to collaborate their online profiles through “About Us” pages, allowing for the discovery of shared connections on various other social networking sites such as Facebook, LinkedIn and Twitter.
Move’s plan is to integrate its online real estate network with SocialBios’ platform to develop products that connect people with real estate professionals.
“Real estate is inherently a social business. Today’s search experience is highly interactive and instant with the explosion of mobile in real estate. We’re uniquely positioned to lead our industry and connect people naturally through their social graph,” Scott Boecker, chief product officer at Move stated in the press release. “This acquisition brings a new element of discovery and creativity to our online real estate marketplace as we evolve our web, mobile and social search experiences.”
Move isn’t alone in its recognition of the potential SocialBios provides to the real estate industry. SocialBios was voted 2011 ‘Best Tech Startup’ winner at Inman Connect NYC by real estate industry leaders who viewed the new technology as the one that would most benefit their industry.
As part of the acquisition agreement, SocialBios founder Ernie Graham and co-founders Ira McMahon and Andrew Van Tassel will join the product development team at Move.
“We’re very excited to join Move and the talented team that continually delivers great products and services based on the premise of connection,” Ernie Graham, general manager for Move’s SocialBios platform stated. “By using the current SocialBios platform as a springboard and leveraging Move’s product and technology assets, we’ll take the concept of social capital discovery and create new ways to expedite higher quality connections between agents and consumers. We’re looking forward to the road ahead and transcending the traditional boundaries within our industry of how to drive better client-agent relationships.”
The financial terms of the acquisition were not released.
For more information visit www.SocialBios.com
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Bacterin International Holdings Inc. (BONE) to Report 7th Straight Quarter of Record Revs
Bacterin International Holdings Inc., a developer, manufacturer and marketer of biologics products for medical applications, is preparing to report its seventh consecutive quarter of record revenue growth.
Based on preliminary unaudited information, the company said it expects to report second quarter 2011 revenue of approximately $7.5 million, a 134 percent increase compared to $3.2 million reported in the same year-ago quarter.
Bacterin attributes the revenue increase to growth in the number of domestic hospitals and new international accounts using Bacterin products, which stem from the company’s expanding direct and outside sales forces.
Guy Cook, Bacterin chairman and CEO, said the record revenue also reflects the significant operational process made during the quarter, including the launch of the company’s third human acellular biological scaffold.
“We expect this revenue momentum and domestic and international market expansion to continue building throughout the rest of the year, especially with the recent addition of Bacterin’s product line to ROI’s nationwide network of hospitals and medical practices,” Cook stated in the press release. “We also plan to leverage our direct sales force with new product lines that complement existing ones.”
The company successfully increased its working capital, which it will use for further product development, as well as to enhance its recently acquired Robinson MedSurg orthopedic implants with Bacterin anti-microbial coating technology.
Bacterin said it plans on submitting an application later this year to get FDA approval for its anti-microbial coatings technology.
For more information visit www.bacterin.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
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Based on preliminary unaudited information, the company said it expects to report second quarter 2011 revenue of approximately $7.5 million, a 134 percent increase compared to $3.2 million reported in the same year-ago quarter.
Bacterin attributes the revenue increase to growth in the number of domestic hospitals and new international accounts using Bacterin products, which stem from the company’s expanding direct and outside sales forces.
Guy Cook, Bacterin chairman and CEO, said the record revenue also reflects the significant operational process made during the quarter, including the launch of the company’s third human acellular biological scaffold.
“We expect this revenue momentum and domestic and international market expansion to continue building throughout the rest of the year, especially with the recent addition of Bacterin’s product line to ROI’s nationwide network of hospitals and medical practices,” Cook stated in the press release. “We also plan to leverage our direct sales force with new product lines that complement existing ones.”
The company successfully increased its working capital, which it will use for further product development, as well as to enhance its recently acquired Robinson MedSurg orthopedic implants with Bacterin anti-microbial coating technology.
Bacterin said it plans on submitting an application later this year to get FDA approval for its anti-microbial coatings technology.
For more information visit www.bacterin.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Scorpex, Inc. (SRPX) Proudly Announces Authorization from the Mexican Environmental Authority (PROFEPA) to Obtain Use and Operational Permits
Scorpex, Inc. was very pleased to announce this morning that PROFEPA, the agency in Mexico responsible for monitoring and enforcing environmental laws, has granted clearance to the company for obtaining “Use” and “Operational” permits. Many of the employees of the environmental protection agency have visited and inspected the site numerous times and participated in the studies pertaining to the project.
Use permits from federal, state, and city governments, in addition to a federal operational permit, are necessary for the operation of a full service waste disposal and recycling company. To obtain these permits, the Company has complied with all governmental regulatory guidelines and directives, conducted feasibility studies, and worked hand-in-hand with government officials on key issues pertaining to zoning, road studies, environmental guidelines, land and health issues, as well as employment issues.
Joseph Caywood, Chief Executive Officer of Scorpex, commented, “Over the past several years, Scorpex has overcome numerous hurdles in order to meet the stringent requirements of Mexico. This most recent approval gives the Company a positive recommendation and the assurance that it has complied with and passed all required testing and studies as well as the requirements for the planned and presently completed property infrastructure, build outs and improvements.”
In conclusion, Mr. Caywood added, “The Company is now poised to receive use and operational permits after carefully complying with all of the requests from the federal, state, and municipal governments to date. We are very pleased with the progress we are making towards the establishment of our first fully operational facility and the execution of our business plan.”
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Use permits from federal, state, and city governments, in addition to a federal operational permit, are necessary for the operation of a full service waste disposal and recycling company. To obtain these permits, the Company has complied with all governmental regulatory guidelines and directives, conducted feasibility studies, and worked hand-in-hand with government officials on key issues pertaining to zoning, road studies, environmental guidelines, land and health issues, as well as employment issues.
Joseph Caywood, Chief Executive Officer of Scorpex, commented, “Over the past several years, Scorpex has overcome numerous hurdles in order to meet the stringent requirements of Mexico. This most recent approval gives the Company a positive recommendation and the assurance that it has complied with and passed all required testing and studies as well as the requirements for the planned and presently completed property infrastructure, build outs and improvements.”
In conclusion, Mr. Caywood added, “The Company is now poised to receive use and operational permits after carefully complying with all of the requests from the federal, state, and municipal governments to date. We are very pleased with the progress we are making towards the establishment of our first fully operational facility and the execution of our business plan.”
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
The Female Health Company (FHCO) Updates Q3FY2011 Financial Outlook
The Female Health Company, manufacturer and marker of the FC2 Female Condom, issued an updated financial outlook for the third quarter of fiscal year 2011.
The company said it expects to report a modest profit and higher unit shipments for the third quarter of fiscal 2011 compared to the comparable quarter of 2010, though results will be negatively impacted by various issues stemming from purchase orders from Brazil and the Republic of South Africa. While FHCO expects positive operating earnings for fiscal 2011, the company said it expects those results to fall below previous guidance.
Despite the aforementioned obstacles, the company noted the severity of HIV/AIDS and the emphasized the need for prevention and education on the disease.
“Over the past years, the face of AIDS has become feminized. Globally, HIV/AIDS is the leading cause of death for women of reproductive age (15-44). Women now comprise more than 50 percent of adult HIV/AIDS cases. These facts have raised awareness of the need for prevention, as evidenced by the fact that FC2 is now available in 120 countries around the world. Although our financial results have been constrained by continued bureaucratic delays related to the timing and shipment of certain large orders, we are confident that the fundamentals of our business remain strong and that demand for, and acceptance of, the FC2 Female Condom, continues to increase,” O.B. Parrish, chairman and CEO of FHCO stated in the press release.
Parrish said the company anticipates continued demand for its products based on several broader factors.
“We are very encouraged by recent indications of demand growth from customers that distribute female condoms globally and believe the long-term outlook for the company remains positive for three reasons: the feminization of HIV/AIDS, the complexity of developing easy-to-use alternative prevention methods, and the emergence of drug resistant strains of sexually transmitted infections (STIs),” he stated.
The company also declared a quarterly cash dividend of $0.05 per share, payable August 9, 2011, to stockholders of record as of August 2, 2011, reflecting the company’s strength in the midst of a temporary setback with its Brazil orders.
“While our operating results have suffered due to timing issues involving large orders during the current fiscal year, we have continued to generate cash flows from operations that significantly exceed our capital spending requirements, and our balance sheet remains free of debt. We remain highly optimistic regarding the company’s future and the expanding role that FC2 will play in the global battle against HIV/AIDS,” Parrish stated.
FHCO is slated to report its operating results for the three and nine months ended June 30, 2011, on August 5, 2011.
For more information visit http://www.femalehealth.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
The company said it expects to report a modest profit and higher unit shipments for the third quarter of fiscal 2011 compared to the comparable quarter of 2010, though results will be negatively impacted by various issues stemming from purchase orders from Brazil and the Republic of South Africa. While FHCO expects positive operating earnings for fiscal 2011, the company said it expects those results to fall below previous guidance.
Despite the aforementioned obstacles, the company noted the severity of HIV/AIDS and the emphasized the need for prevention and education on the disease.
“Over the past years, the face of AIDS has become feminized. Globally, HIV/AIDS is the leading cause of death for women of reproductive age (15-44). Women now comprise more than 50 percent of adult HIV/AIDS cases. These facts have raised awareness of the need for prevention, as evidenced by the fact that FC2 is now available in 120 countries around the world. Although our financial results have been constrained by continued bureaucratic delays related to the timing and shipment of certain large orders, we are confident that the fundamentals of our business remain strong and that demand for, and acceptance of, the FC2 Female Condom, continues to increase,” O.B. Parrish, chairman and CEO of FHCO stated in the press release.
Parrish said the company anticipates continued demand for its products based on several broader factors.
“We are very encouraged by recent indications of demand growth from customers that distribute female condoms globally and believe the long-term outlook for the company remains positive for three reasons: the feminization of HIV/AIDS, the complexity of developing easy-to-use alternative prevention methods, and the emergence of drug resistant strains of sexually transmitted infections (STIs),” he stated.
The company also declared a quarterly cash dividend of $0.05 per share, payable August 9, 2011, to stockholders of record as of August 2, 2011, reflecting the company’s strength in the midst of a temporary setback with its Brazil orders.
“While our operating results have suffered due to timing issues involving large orders during the current fiscal year, we have continued to generate cash flows from operations that significantly exceed our capital spending requirements, and our balance sheet remains free of debt. We remain highly optimistic regarding the company’s future and the expanding role that FC2 will play in the global battle against HIV/AIDS,” Parrish stated.
FHCO is slated to report its operating results for the three and nine months ended June 30, 2011, on August 5, 2011.
For more information visit http://www.femalehealth.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
Friday, July 15, 2011
Chine Gerui Advanced Materials Group Ltd. (CHOP) Hosts Investor Day and Commences Operation of Two New Steel Production Lines
China Gerui Advanced Materials Group Ltd., a company that engages in the manufacture and sale of cold-rolled narrow strip steel products in the People’s Republic of China, recently announced that it has commenced operation on two wide-strip, cold rolled steel production lines with 150,000 tons of annual capacity, along with one additional plating line with 200,000 tons of capacity per year.
China Gerui’s on-going Capacity Expansion plan is an important part of its continued growth and evolution in the high-end and specialized cold-rolled steel sector. The most recently added facility, which marks Phase I completion of the Capacity Expansion Plan, brings cold-rolled steel production up to a total amounting to 400,000 tons annually and increased the Company’s value-added plating capability to 250,000 tons of total capacity annually. The new capacity is expected to ramp up to a normalized utilization rate of 75% within six months consistent with China Gerui’s 2011 guidance and will aid in maintaining a blended gross margin of 30%.
The Company hosted a ribbon cutting ceremony on June 29, 2011 to showcase Phase I of the new facility and in attendance to the event were local government officials, industry participants, members of the media, supplies, customers, analysts, investors, the Board of Directors and senior management of China Gerui. The event was succeeding an Investor Day where investors and analysts toured the cutting-edge facility and interacted with China Gerui management in order to learn about the facility and to get an update on the Company’s strategy and business.
“Completion of our new facility is a major milestone in our growth plan and bolsters our capabilities to further tailor products to customer specifications as well as to meet pent-up demand,” Mr. Mingwang Lu, Chairman and Chief Executive Officer, stated. “The final phase will add 100,000 more tons of capacity by the end of 2011, bringing us to a total of 500,000 tons of annual specialized cold-rolled steel production capacity. The addition of wide-strip capacity with value-added, higher-margin plating capability for 50% of our output will open up new markets and further strengthen our leading position in the sector,” he continued.
Topics that were covered as part of the analyst and investor event included a local government update, customer and supplier testimonials, a steel industry outlook and perspective by an industry expert, commentary by the Company’s auditor, and an extended tour of the new facility.
Ye Congfa, an industry expert from China Iron & Steel Research Institute, indicated that high-value, high precision, ultra-thin cold-rolled steel is in shorter supply in China, forcing it to look to imports for 90% of the 10 million tons of specialized product per year. China Gerui, with its capacity to provide the market with both wide-strip and narrow-strip cold-rolled steel, maintains an advantage to other foreign competitors because of its strong domestic presence, lower production costs, and its reputation for a very high quality standard.
Harry Edelson, the director of the Company’s board and a veteran venture capitalist, reviewed the history of the Company and brought attention to additional measures of financial and legal diligence that the Company has undertaken and brought forth the differences in regulatory and other due diligence reviews required to effect a merger through a special purpose acquisition company (SPAC), like China Gerui, as opposed to a reverse merger (RTO).
Customer representative Yong Wang, Senior Engineer from Wuhan Academy of Post and Telecommunications, was also in attendance at the event. Yong Wang stated, “China Gerui’s products conform exactly to our stated specifications, reflecting a high degree of engineering and manufacturing expertise. Knowing that we have a consistent source of supply for this highly specialized steel, in both narrow- and wide-strip, has been a key to keeping our products competitive in the marketplace.” The Company’s immense increase in production capacity will allow it to continue to meet the needs of the customer and enhance the firm’s migration to higher margin products, while developing higher-end technology products.
For more information on China Gerui Advanced Materials Group Limited, visit their website at: http://www.geruigroup.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
China Gerui’s on-going Capacity Expansion plan is an important part of its continued growth and evolution in the high-end and specialized cold-rolled steel sector. The most recently added facility, which marks Phase I completion of the Capacity Expansion Plan, brings cold-rolled steel production up to a total amounting to 400,000 tons annually and increased the Company’s value-added plating capability to 250,000 tons of total capacity annually. The new capacity is expected to ramp up to a normalized utilization rate of 75% within six months consistent with China Gerui’s 2011 guidance and will aid in maintaining a blended gross margin of 30%.
The Company hosted a ribbon cutting ceremony on June 29, 2011 to showcase Phase I of the new facility and in attendance to the event were local government officials, industry participants, members of the media, supplies, customers, analysts, investors, the Board of Directors and senior management of China Gerui. The event was succeeding an Investor Day where investors and analysts toured the cutting-edge facility and interacted with China Gerui management in order to learn about the facility and to get an update on the Company’s strategy and business.
“Completion of our new facility is a major milestone in our growth plan and bolsters our capabilities to further tailor products to customer specifications as well as to meet pent-up demand,” Mr. Mingwang Lu, Chairman and Chief Executive Officer, stated. “The final phase will add 100,000 more tons of capacity by the end of 2011, bringing us to a total of 500,000 tons of annual specialized cold-rolled steel production capacity. The addition of wide-strip capacity with value-added, higher-margin plating capability for 50% of our output will open up new markets and further strengthen our leading position in the sector,” he continued.
Topics that were covered as part of the analyst and investor event included a local government update, customer and supplier testimonials, a steel industry outlook and perspective by an industry expert, commentary by the Company’s auditor, and an extended tour of the new facility.
Ye Congfa, an industry expert from China Iron & Steel Research Institute, indicated that high-value, high precision, ultra-thin cold-rolled steel is in shorter supply in China, forcing it to look to imports for 90% of the 10 million tons of specialized product per year. China Gerui, with its capacity to provide the market with both wide-strip and narrow-strip cold-rolled steel, maintains an advantage to other foreign competitors because of its strong domestic presence, lower production costs, and its reputation for a very high quality standard.
Harry Edelson, the director of the Company’s board and a veteran venture capitalist, reviewed the history of the Company and brought attention to additional measures of financial and legal diligence that the Company has undertaken and brought forth the differences in regulatory and other due diligence reviews required to effect a merger through a special purpose acquisition company (SPAC), like China Gerui, as opposed to a reverse merger (RTO).
Customer representative Yong Wang, Senior Engineer from Wuhan Academy of Post and Telecommunications, was also in attendance at the event. Yong Wang stated, “China Gerui’s products conform exactly to our stated specifications, reflecting a high degree of engineering and manufacturing expertise. Knowing that we have a consistent source of supply for this highly specialized steel, in both narrow- and wide-strip, has been a key to keeping our products competitive in the marketplace.” The Company’s immense increase in production capacity will allow it to continue to meet the needs of the customer and enhance the firm’s migration to higher margin products, while developing higher-end technology products.
For more information on China Gerui Advanced Materials Group Limited, visit their website at: http://www.geruigroup.com
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
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