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Salesforce.com (CRM) Announces Annual Stockholders Meeting
SAN FRANCISCO, May 10, 2012 /PRNewswire/ — Salesforce.com (NYSE: CRM), the enterprise cloud computing (http://www.salesforce.com/cloudcomputing/) company, today announced the company’s 2012 annual meeting of stockholders will be held on Thursday, June 7, 2012 at 2:00PM (PT) / 5:00PM (ET). The meeting is to be held at the St. Regis Hotel located on 125 3rd Street, San Francisco, California 94105. Stockholders of salesforce.com as of April 17, 2012 are invited to attend the meeting and should refer to salesforce.com’s proxy statement available at www.salesforce.com/investor for details regarding required documentation to gain admission to the meeting.
(Logo: http://photos.prnewswire.com/prnh/20050216/SFW105LOGO)
An audiocast will be available to the public on salesforce.com’s website at www.salesforce.com/investor.
About Salesforce.com
With more than 100,000 customers, salesforce.com is the enterprise cloud computing company that is leading the shift to thesocial enterprise. Social enterprises leverage social, mobile and open cloud technologies to put customers at the heart of their business. Based on salesforce.com’s real-time, multitenant architecture, the company’s platform and application services allow customers to:
- Create employee social networks with Salesforce Chatter, Salesforce Rypple and Salesforce Force.com.
- Develop customer social networks with the Salesforce Sales Cloud, Salesforce Data.com, Salesforce Service Cloud, and
Salesforce Site.com. - Connect with customers on public social networks with Salesforce Heroku and Salesforce Radian6.
- Empower small businesses to become social enterprises with Salesforce Desk.com and Salesforce Do.com.
- Extend a company’s social enterprise with apps from the leading enterprise app marketplace, AppExchange.
- Run apps on Database.com, the first social enterprise database.
Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase salesforce.com applications should make their purchase decisions based upon features that are currently available. Salesforce.com has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol “CRM.” For more information please visit http://salesforce.com, or call 1-800-NO-SOFTWARE.
©2012 salesforce.com, inc. All rights reserved. Salesforce.com, Salesforce, Chatter, Sales Cloud, Service Cloud, Radian6, Jigsaw, AppExchange, Force.com, Heroku, and all associated logos are trademarks of salesforce.com, inc. in the United States and other countries. Salesforce.com offers its Siteforce products and services in Germany under the Force.com Sites trademark. Other names used herein may be trademarks of their respective owners. Other names used herein may be trademarks of their respective owners.
Intellicheck Mobilisa (IDN) Receives Contract Worth $1M
Intellicheck Mobilisa, Inc. (NYSE Amex: IDN), a leading technology company specializing in wireless and identity systems, announced today that a seaport has purchased the Company’s IM2700 mobile Transportation Worker Identity Credential (TWIC) reader system. The contract, valued at $1 million, is the largest single TWIC sale in the Company’s history.
Steve Williams, Chief Executive Officer of Intellicheck Mobilisa, said, “This is the largest TWIC sale we have made to one facility and a market we’ve been creating and leading. The port wanted to increase their security efforts in order to meet the new security requirements associated with the use of TWIC cards. Our IM2700 TWIC reader was a natural addition to their security procedures.”
The TWIC program is an initiative of the Transportation Security Administration and U.S. Coast Guard to provide tamper-resistant biometric identification cards to port facility workers. TWIC cards have become a mandatory requirement for access to all U.S. ports as of April 15, 2009. Intellicheck Mobilisa’s TWIC reader handheld device is used to validate TWIC cards. The company believes such a universal reader will ultimately be needed at each of the more than 175 seaports in the U.S. Intellicheck Mobilisa’s TWIC reader is currently in use at major port facilities in California, Massachusetts, New Jersey, Texas and the State of Washington.
About Intellicheck Mobilisa
Intellicheck Mobilisa (ICMOBIL) is a leading technology company that is engaged in developing and marketing wireless technology and identity systems for various applications, including mobile and handheld access control and security systems for the government, military and commercial markets. ICMOBIL’s products include the Fugitive Finder system, an advanced ID card access control product currently protecting approximately 100 military and federal locations; ID Check, a patented technology that instantly reads, analyzes, and verifies encoded data in magnetic stripes and barcodes on government-issued IDs from U.S. and Canadian jurisdictions, designed to improve the Customer Experience for the financial, hospitality and retail sectors; and Aegeus, a wireless security buoy system for the government, military and oil industry.
For more news and information on ICMOBIL, please visit www.icmobil.com.
YM BioSciences (YMI) Reports Operational and Financial Results for the Third Quarter
MISSISSAUGA, ON, May 11, 2012 /PRNewswire/ – YM BioSciences Inc. (NYSE Amex: YMI, TSX: YM), a drug development company advancing a diverse portfolio of hematology and cancer related products, today reported operational and financial results for its third quarter of fiscal 2012, ended March 31, 2011.
“In the past few months we delivered robust Phase I/II results for our JAK1/JAK2 inhibitor, CYT387, in patients with myelofibrosis and we raised an additional $80 million principally to support the further advancement of this drug,” said Dr. Nick Glover, President and CEO of YM BioSciences. “Our current focus is on confirming our Phase III clinical strategy for CYT387 with both North American and European regulators with the expectation that, subject to these regulatory discussions, we will begin enrolling patients in pivotal trials in the second half of calendar 2012.”
CYT387 Next Steps:
- Subject to regulatory clearance, pivotal trials for CYT387 in myelofibrosis are targeted to begin in the second half of calendar 2012.
- Final nine-month data from the ongoing 166-patient Phase I/II Core trial are expected to be reported by the end of calendar 2012.
- Interim data from the Phase I/II Extension trial, in which patients who have completed the Core trial are able to continue long-term treatment with CYT387, are expected to be reported by the end of calendar 2012.
- Interim data from the BID (twice-daily dosing) Phase II trial of CYT387 are expected to be reported by the end of calendar 2012.
- YM may evaluate CYT387’s effectiveness in additional clinical indications and is currently in the process of designing clinical trials for these indications.
- YM will entertain strategic discussions with other companies for the next stages of development for CYT387 and will weigh any opportunities against the prospect of retaining full commercial economics by advancing CYT387 further into pivotal trials on its own.
Financial Results (CDN dollars)
The interim consolidated financial statements and comparative information for the third quarter of fiscal 2012 have been prepared in accordance with International Financial Reporting Standards (”IFRS”). Previously, up to June 30, 2011, the Company prepared its Interim and Annual Consolidated Financial Statements in accordance with Canadian Generally Accepted Accounting Principles (”Canadian GAAP”).
Revenue, primarily from out-licensing, for the third quarter of fiscal 2012 ended March 31, 2012, was $0.1 million compared with $0.2 million for the third quarter of fiscal 2011. Revenue from out-licensing for the first nine months of fiscal 2012 was $0.7 million compared with $0.8 million for the first nine months of fiscal 2011. The decreases were due to a two-year increase in the period over which the deferred revenue is being recognized.
Net finance income was $0.3 million for the third quarter of fiscal 2012 compared to net finance costs of $1.5 million for the third quarter of fiscal 2011. Net finance income was $9.3 million for the first nine months of fiscal 2012 compared to net finance costs of $9.8 million for the first nine months of fiscal 2011. The changes in net finance income are primarily attributable to changes in the fair value adjustment for USD warrants. Under IFRS, warrants denominated in a different currency than the Company’s functional currency must be classified as a financial liability and measured at fair value, with changes reflected in profit or loss. For the third quarter of fiscal 2012, the Company incurred a loss of $0.4 million on the revaluation of warrants, compared to a loss of $1.1 million for the third quarter of fiscal 2011. For the first nine months of fiscal 2012, the Company incurred a gain of $6.8 million on the revaluation of warrants, compared to a loss of $8.6 million for the first nine months of fiscal 2011.
Licensing and product development expenses were $5.8 million for the third quarter of fiscal 2012 compared with $5.5 million for the third quarter of fiscal 2011. Licensing and product development expenses were $19.5 million for the first nine months of fiscal 2012 compared with $16.4 million for the first nine months of fiscal 2011. For the third quarter of fiscal 2012, core expenses for licensing and product development remained constant at $3.0 million compared to the three months ended March 31, 2011, costs associated with development activities for CYT387 increased by $1.0 million to $2.5 million, and costs associated with development activities for nimotuzumab decreased by $0.7 million to $0.2 million. Development expenses for CYT387 increased due to the expansion of the Phase I/II clinical trial in myelofibrosis, start-up costs associated with the BID (twice-daily dosing) study, pre-clinical development activities, and manufacturing of drug for these programs.
General and administrative expenses were $1.4 million for the third quarter of fiscal 2012 compared to $1.6 million for the third quarter of fiscal 2011. General and administrative expenses were $4.7 million for the first nine months of fiscal 2012 compared to $6.6 million for the first nine months of fiscal 2011, primarily due to severance and restructuring costs incurred in fiscal 2011.
Net loss for the third quarter of fiscal 2012 was $6.8 million ($0.05 per share) compared to $8.3 million ($0.08 per share) for the same period last fiscal year. Net loss for the first nine months of fiscal 2012 was $14.2 million ($0.12 per share) compared to $32.0 million ($0.35 per share) for the same period last fiscal year. Under IFRS, net loss has been volatile, caused by the requirement to adjust the carrying value of liabilities such as USD warrants and stock appreciation rights to fair value at each measurement date, with changes being reflected in net loss for the quarter.
During the third quarter of fiscal 2012, the Company completed a prospectus offering of 40,250,000 shares for gross proceeds of $79.4 million (U.S. $80.5 million) resulting in a net cash proceeds of $74.2 million.
As at March 31, 2012 the Company had cash and short-term deposits totaling $137.2 million and accounts payables and accrued liabilities totaling $3.1 million compared to $79.7 million and $4.4 million respectively at June 30, 2011.
As at March 31, 2012 the Company had 157,402,353 common shares and 7,366,418 warrants outstanding.
About YM BioSciences
YM BioSciences Inc. is a drug development company primarily focused on advancing CYT387, an orally administered inhibitor of both the JAK1 and JAK2 kinases, which have been implicated in a number of immune cell disorders including myeloproliferative neoplasms and inflammatory diseases as well as certain cancers. Positive interim results have been reported from a Phase I/II trial of CYT387 in 166 patients with myelofibrosis. This trial has completed enrollment while a 60 patient Phase II twice-daily dose escalation trial is currently recruiting patients. YM’s portfolio also includes nimotuzumab, a humanized monoclonal antibody targeting EGFR with an enhanced side-effect profile over currently marketed EGFR-targeting antibodies. Nimotuzumab is being evaluated in numerous Phase II and III trials worldwide. CYT997 is an orally-available small molecule therapeutic with dual mechanisms of vascular disruption and cytotoxicity, and has completed a Phase II trial in glioblastoma multiforme. In addition to YM’s three products, the Company has several preclinical research programs underway with candidates from its library of novel compounds identified through internal research conducted at YM BioSciences Australia.
This press release may contain forward-looking statements, which reflect the Company’s current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process or the ability to obtain drug product in sufficient quantity or at standards acceptable to health regulatory authorities to complete clinical trials or to meet commercial demand; and other risks detailed from time to time in the Company’s ongoing quarterly and annual reporting. Certain of the assumptions made in preparing forward-looking statements include but are not limited to the following: that CYT387, nimotuzumab and CYT997 will generate positive efficacy and safety data in ongoing and future clinical trials, and that YM and its various licensees will complete their respective clinical trials and disclose data within the timelines communicated in this release. Except as required by applicable securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
| YM BIOSCIENCES INC. | |||||||||
| Condensed Consolidated Interim Statements of Financial Position | |||||||||
| (Expressed in Canadian dollars, unless otherwise noted) | |||||||||
| (Unaudited) | |||||||||
| March 31, 2012 |
June 30, 2011 |
July 1, 2010 |
|||||||
| Assets | |||||||||
| Current assets: | |||||||||
| Cash and cash equivalents | $ | 90,830,767 | $ | 32,046,630 | $ | 19,460,141 | |||
| Short-term deposits | 46,362,847 | 47,611,922 | 26,184,991 | ||||||
| Accounts receivable | 248,738 | 205,900 | 161,184 | ||||||
| Prepaid expenses | 428,114 | 731,676 | 237,962 | ||||||
| Total current assets | 137,870,466 | 80,596,128 | 46,044,278 | ||||||
| Non-current assets: | |||||||||
| Property and equipment | 62,157 | 91,320 | 84,775 | ||||||
| Intangible assets | 3,756,686 | 7,137,698 | 11,645,714 | ||||||
| Total non-current assets | 3,818,843 | 7,229,018 | 11,730,489 | ||||||
| Total assets | $ | 141,689,309 | $ | 87,825,146 | $ | 57,774,767 | |||
| Liabilities and Equity | |||||||||
| Current liabilities: | |||||||||
| Accounts payable | $ | 1,287,062 | $ | 1,718,893 | $ | 699,277 | |||
| Accrued liabilities | 1,783,598 | 2,652,511 | 2,085,824 | ||||||
| Share purchase warrants | 7,630,176 | 14,476,681 | 6,358,480 | ||||||
| Deferred revenue | 381,270 | 594,072 | 1,523,916 | ||||||
| Total current liabilities | 11,082,106 | 19,442,157 | 10,667,497 | ||||||
| Non-current liabilities: | |||||||||
| Deferred revenue | 1,652,170 | 1,831,722 | 1,650,909 | ||||||
| Total non-current liabilities | 1,652,170 | 1,831,722 | 1,650,909 | ||||||
| Equity: | |||||||||
| Share capital | 339,867,098 | 264,548,643 | 203,498,239 | ||||||
| Contributed surplus | 16,478,999 | 15,144,062 | 14,232,353 | ||||||
| Deficit | (227,391,064) | (213,141,438) | (172,274,231) | ||||||
| Total equity | 128,955,033 | 66,551,267 | 45,456,361 | ||||||
| Total liabilities and equity | $ | 141,689,309 | $ | 87,825,146 | $ | 57,774,767 | |||
| Approved by the Board and authorized for issue on May 10, 2012: | |||||||||
| “Tryon Williams” | Director | ||||||||
| “David G.P. Allan” | Director | ||||||||
| YM BIOSCIENCES INC. | ||||||||||
| Condensed Consolidated Interim Statements of Comprehensive Income | ||||||||||
| (Expressed in Canadian dollars, unless otherwise noted) | ||||||||||
| (Unaudited) | ||||||||||
| Three months ended March 31, |
Nine months ended March 31, |
|||||||||
| 2012 | 2011 | 2012 | 2011 | |||||||
| Revenue: | ||||||||||
| Out-licensing | $ | 109,107 | $ | 217,489 | $ | 739,952 | $ | 811,262 | ||
| Expenses: | ||||||||||
| Licensing and product development | 5,755,426 | 5,493,790 | 19,503,754 | 16,432,545 | ||||||
| General and administrative | 1,433,113 | 1,606,297 | 4,748,144 | 6,560,907 | ||||||
| 7,188,539 | 7,100,087 | 24,251,898 | 22,993,452 | |||||||
| Loss before the undernoted | (7,079,432) | (6,882,598) | (23,511,946) | (22,182,190) | ||||||
| Finance income | 699,990 | 170,437 | 9,262,320 | 319,935 | ||||||
| Finance costs | (417,716) | (1,642,363) | - | (10,140,698) | ||||||
| Other income | - | 9,528 | - | 34,444 | ||||||
| Net loss for the period and comprehensive loss |
$ | (6,797,158) | $ | (8,344,996) | $ | (14,249,626) | $ | (31,968,509) | ||
| Basic and diluted loss per common share | $ | (0.05) | $ | (0.08) | $ | (0.12) | $ | (0.35) | ||
| YM BIOSCIENCES INC. | ||||||||||
| Condensed Consolidated Interim Statements of Changes in Equity | ||||||||||
| (Expressed in Canadian dollars, unless otherwise noted) | ||||||||||
| (Unaudited) | ||||||||||
| Share capital | Contributed | |||||||||
| Number | Amount | surplus | Deficit | Total | ||||||
| Balance, June 30, 2011 | 116,681,948 | $ | 264,548,643 | $ | 15,144,062 | $ | (213,141,438) | $ | 66,551,267 | |
| Net loss for the period | - | - | - | (14,249,626) | (14,249,626) | |||||
| Transactions with owners of the Company, recognized directly in equity: |
||||||||||
| Shares issued pursuant to prospectus offering | 40,250,000 | 74,232,207 | - | - | 74,232,207 | |||||
| Share-based compensation | - | - | 1,880,899 | - | 1,880,899 | |||||
| Shares issued on exercise of options | 470,405 | 1,086,248 | (545,962) | - | 540,286 | |||||
| Total transactions with owners of the Company | 40,720,405 | 75,318,455 | 1,334,937 | - | 76,653,392 | |||||
| Balance, March 31, 2012 | 157,402,353 | $ | 339,867,098 | $ | 16,478,999 | $ | (227,391,064) | $ | 128,955,033 | |
| Share capital | Contributed | |||||||||
| Number | Amount | surplus | Deficit | Total | ||||||
| Balance, July 1, 2010 | 80,359,623 | $ | 203,498,239 | $ | 14,232,353 | $ | (172,274,231) | $ | 45,456,361 | |
| Net loss for the period | - | - | - | (31,968,509) | (31,968,509) | |||||
| Transactions with owners of the Company, recognized directly in equity: |
||||||||||
| Share-based compensation | - | - | 1,436,442 | - | 1,436,442 | |||||
| Shares issued on exercise of options | 824,160 | 1,427,213 | (576,909) | - | 850,304 | |||||
| Shares issued on exercise of warrants | 660,529 | 2,131,506 | - | - | 2,131,506 | |||||
| Shares issued pursuant to prospectus offering | 29,250,000 | 44,499,915 | - | - | 44,499,915 | |||||
| Total transactions with owners of the Company | 30,734,689 | 48,058,634 | 859,533 | - | 48,918,167 | |||||
| Balance, March 31, 2011 | 111,094,312 | $ | 251,556,873 | $ | 15,091,886 | $ | (204,242,740) | $ | 62,406,019 | |
| YM BIOSCIENCES INC. | |||||||||||
| Condensed Consolidated Interim Statements of Cash Flows | |||||||||||
| (Expressed in Canadian dollars, unless otherwise noted) | |||||||||||
| (Unaudited) | |||||||||||
| Three months ended March 31, |
Nine months ended March 31, |
||||||||||
| 2012 | 2011 | 2012 | 2011 | ||||||||
| Cash provided by (used in): | |||||||||||
| Operating activities: | |||||||||||
| Net loss for the period | $ | (6,797,158) | $ | (8,344,996) | $ | (14,249,626) | $ | (31,968,509) | |||
| Items not involving cash: | |||||||||||
| Depreciation of property and equipment | 12,521 | 20,598 | 45,655 | 59,745 | |||||||
| Amortization of intangible assets | 1,127,004 | 1,127,004 | 3,381,012 | 3,381,012 | |||||||
| Interest earned | (178,400) | (170,437) | (487,568) | (308,812) | |||||||
| Unrealized (gain) loss on cash and cash equivalents | 506,775 | 505,016 | (899,883) | 1,515,378 | |||||||
| Gain on disposal of property and equipment | - | - | - | (10,744) | |||||||
| Share-based compensation | 373,215 | 392,244 | 1,880,899 | 1,436,442 | |||||||
| Change in fair value of share purchase warrants | 417,716 | 1,137,347 | (6,846,505) | 8,625,320 | |||||||
| Changes in non-cash working capital balances: | |||||||||||
| Short-term deposits | (144,981) | (156,223) | (450,258) | (262,590) | |||||||
| Accounts receivable | 35,697 | (91,833) | (42,838) | (133,812) | |||||||
| Prepaid expenses | 63,498 | 104,128 | 303,562 | (152,588) | |||||||
| Accounts payable | (249,939) | (437,564) | (431,831) | 275,121 | |||||||
| Accrued liabilities | (386,440) | (809,927) | (868,913) | 718,958 | |||||||
| Deferred revenue | (95,318) | (148,518) | (392,354) | (600,513) | |||||||
| Net cash used in operating activities | (5,315,810) | (6,873,161) | (19,058,648) | (17,425,592) | |||||||
| Investing activities: | |||||||||||
| Proceeds from sale of short-term deposits | 12,192,896 | 13,721,647 | 47,999,333 | 62,575,864 | |||||||
| Purchase of short-term deposits | (12,000,000) | (12,500,000) | (46,300,000) | (88,514,540) | |||||||
| Interest received | 178,400 | 170,437 | 487,568 | 308,812 | |||||||
| Additions to property and equipment | (6,272) | (16,267) | (16,492) | (68,961) | |||||||
| Net cash provided by (used in) investing activities | 365,024 | 1,375,817 | 2,170,409 | (25,698,825) | |||||||
| Financing activities: | |||||||||||
| Issuance of common shares on exercise of options | 517,836 | 596,495 | 540,286 | 850,304 | |||||||
| Issue of common shares on exercise warrants | - | 135,058 | - | 985,217 | |||||||
| Net proceeds from issuance of shares | 74,232,207 | 1,165,392 | 74,232,207 | 44,499,914 | |||||||
| Net cash provided by financing activities | 74,750,043 | 1,896,945 | 74,772,493 | 46,335,435 | |||||||
| Impact of foreign exchange rates on cash | (506,775) | (505,016) | 899,883 | (1,515,378) | |||||||
| Increase (decrease) in cash and cash equivalents | 69,292,482 | (4,105,415) | 58,784,137 | 1,695,640 | |||||||
| Cash and cash equivalents, beginning of period | 21,538,285 | 25,261,196 | 32,046,630 | 19,460,141 | |||||||
| Cash and cash equivalents, end of period | $ | 90,830,767 | $ | 21,155,781 | $ | 90,830,767 | $ | 21,155,781 | |||
SOURCE YM BioSciences Inc.
Goldfield (GV) Announces Sharply Improved First Quarter Results
MELBOURNE, Fla., May 11, 2012 /PRNewswire/ — The Goldfield Corporation (NYSE Amex: GV) today announced continued improved results for the three months ended March 31, 2012. The Goldfield Corporation is a leading provider of electrical construction services in the Southeast with operations throughout much of the United States. Goldfield is also engaged, to a much lesser extent, in real estate development activities on the east coast of Florida.
Revenue for the three months ended March 31, 2012 nearly doubled, increasing to $17.7 million from $8.9 million in the comparable prior year period. This increase was attributable to higher electrical construction revenue.
Because of improved results in the electrical construction segment, the Company’s operating income for the three months ended March 31, 2012 increased to $2.7 million from an operating loss of $1,000 in the same prior year period.
For the three months ended March 31, 2012, the electrical construction segment’s operating results showed significant improvement, with revenue of $17.1 million and operating income of $3.3 million, compared to revenue of $8.2 million and operating income of $328,000 in the prior year. This increase in revenue was largely attributable to an increase in demand for our electrical construction services, particularly our transmission work, as a result of our expansion efforts during 2010 and 2011. As previously announced in February of 2012, the Company’s electrical construction segment was awarded a $52.0 million transmission line construction contract as part of the Competitive Renewable Energy Zones (”CREZ”) projects. Construction of the CREZ project commenced last month, and is currently scheduled to be completed on August 31, 2013. Our results for the first quarter did not include any revenue from this project.
For the three months ended March 31, 2012, the real estate development segment had revenue of $634,000 and operating income of $124,000, compared to revenue of $766,000 and operating income of $225,000, respectively, for 2011. We currently have no condominium projects under construction, and only have one unit remaining unsold from our Pineapple House project.
Net income for the three months ended March 31, 2012 was $2.7 million, or $0.10 per share, compared to a net loss of $11,000, or ($0.00) net loss per share, in the comparable prior year period.
John H. Sottile, Goldfield’s President and Chief Executive Officer stated, “The prospects for our electrical construction business are brighter today than at any time in recent history. Our backlog at March 31, 2012 was $70.6 million, up from $6.2 million at March 31st last year.” Mr. Sottile also added, “We believe that our recent expansion into Texas and our new CREZ project will provide a good opportunity for further growth in this region.”
About Goldfield
Goldfield is a leading provider of electrical construction and maintenance services in the energy infrastructure industry throughout much of the United States. The company specializes in installing and maintaining electrical transmission lines for a wide range of electric utilities. Goldfield is also involved, to a much lesser extent, in real estate development activities on Florida’s east coast.
For additional information on our first quarter results, please refer to our Quarterly Report on Form 10-Q being filed with the Securities and Exchange Commission and visit the Company’s website at http://www.goldfieldcorp.com.
This press release includes forward-looking statements based on our current expectations. Our actual results may differ materially from what we currently expect. Factors that may affect the results of our electrical construction operations include, among others: the level of construction activities by public utilities; the timing and duration of construction projects for which we are engaged; our ability to estimate accurately with respect to fixed price construction contracts; and heightened competition in the electrical construction field, including intensification of price competition. Factors that may affect the results of our real estate development operations include, among others: the continued weakness in the Florida real estate market; the level of consumer confidence; our ability to acquire land; increases in interest rates and availability of mortgage financing to our buyers; and increases in construction and homeowner insurance and the availability of insurance. Factors that may affect the results of all of our operations include, among others: adverse weather; natural disasters; effects of climate changes; changes in generally accepted accounting principles; ability to obtain necessary permits from regulatory agencies; our ability to maintain or increase historical revenue and profit margins; general economic conditions, both nationally and in our region; adverse legislation or regulations; availability of skilled construction labor and materials, and material increases in labor and material costs; and our ability to obtain additional and/or renew financing. Other important factors which could cause our actual results to differ materially from the forward-looking statements in this press release are detailed in the Company’s Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operation sections of our Annual Report on Form 10-K and Goldfield’s other filings with the Securities and Exchange Commission, which are available on Goldfield’s website: http://www.goldfieldcorp.com.
For further information, please contact:
The Goldfield Corporation
Phone: (321) 724-1700
Email: investorrelations@goldfieldcorp.com
|
The Goldfield Corporation and Subsidiaries |
|||||||||
|
Consolidated Statements of Operations |
|||||||||
|
(Unaudited) |
|||||||||
|
Three Months Ended |
|||||||||
|
March 31, |
|||||||||
|
2012 |
2011 |
||||||||
|
Revenue |
|||||||||
|
Electrical construction |
$ 17,109,940 |
$ 8,154,530 |
|||||||
|
Real estate development |
633,600 |
765,872 |
|||||||
|
Total revenue |
17,743,540 |
8,920,402 |
|||||||
|
Costs and expenses |
|||||||||
|
Electrical construction |
12,924,484 |
7,008,979 |
|||||||
|
Real estate development |
393,108 |
430,626 |
|||||||
|
Selling, general and administrative |
915,525 |
747,065 |
|||||||
|
Depreciation |
786,257 |
734,135 |
|||||||
|
(Gain) loss on sale of assets |
(10,565) |
714 |
|||||||
|
Total costs and expenses |
15,008,809 |
8,921,519 |
|||||||
|
Total operating income (loss) |
2,734,731 |
(1,117) |
|||||||
|
Other (expenses) income, net |
|||||||||
|
Interest income |
6,004 |
6,634 |
|||||||
|
Interest expense |
(48,253) |
(27,002) |
|||||||
|
Other income, net |
9,067 |
20,381 |
|||||||
|
Total other (expenses) income, net |
(33,182) |
13 |
|||||||
|
Income (loss) from continuing operations before income taxes |
2,701,549 |
(1,104) |
|||||||
|
Income tax provision |
51,232 |
10,156 |
|||||||
|
Net income (loss) |
$ 2,650,317 |
$ (11,260) |
|||||||
|
Income (loss) per share of common stock – basic and diluted |
$ 0.10 |
$ (0.00) |
|||||||
|
Weighted average shares outstanding – basic and diluted |
25,451,354 |
25,451,354 |
|||||||
|
The Goldfield Corporation and Subsidiaries |
||||||||
|
Condensed Consolidated Balance Sheets |
||||||||
|
(Unaudited) |
||||||||
|
March 31, |
December 31, |
|||||||
|
2012 |
2011 |
|||||||
|
ASSETS |
||||||||
|
Current assets |
||||||||
|
Cash and cash equivalents |
$ 1,886,171 |
$ 3,319,824 |
||||||
|
Accounts receivable and accrued billings, net |
11,730,864 |
8,991,109 |
||||||
|
Real estate inventory |
161,854 |
346,829 |
||||||
|
Costs and estimated earnings in excess of |
2,887,821 |
946,525 |
||||||
|
Residential properties under construction |
145,786 |
222,818 |
||||||
|
Prepaid expenses |
1,624,932 |
399,458 |
||||||
|
Other current assets |
116,441 |
188,033 |
||||||
|
Total current assets |
18,553,869 |
14,414,596 |
||||||
|
Property, buildings and equipment, at cost, net |
13,088,713 |
10,481,705 |
||||||
|
Notes receivable, less current portion |
185,739 |
196,632 |
||||||
|
Deferred charges and other assets |
1,626,404 |
1,518,004 |
||||||
|
Total assets |
$ 33,454,725 |
$ 26,610,937 |
||||||
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
||||||||
|
Current liabilities |
||||||||
|
Accounts payable and accrued liabilities |
$ 7,294,686 |
$ 3,639,919 |
||||||
|
Current portion of notes payable |
2,791,366 |
1,791,429 |
||||||
|
Other current liabilities |
507,643 |
934,714 |
||||||
|
Total current liabilities |
10,593,695 |
6,366,062 |
||||||
|
Other accrued liabilities |
3,989 |
1,595 |
||||||
|
Notes payable, less current portion |
4,874,524 |
4,911,080 |
||||||
|
Total liabilities |
15,472,208 |
11,278,737 |
||||||
|
Commitments and contingencies |
||||||||
|
Stockholders’ equity |
||||||||
|
Common stock |
2,781,377 |
2,781,377 |
||||||
|
Capital surplus |
18,481,683 |
18,481,683 |
||||||
|
Accumulated deficit |
(1,972,356) |
(4,622,673) |
||||||
|
Common stock in treasury, at cost |
(1,308,187) |
(1,308,187) |
||||||
|
Total stockholders’ equity |
17,982,517 |
15,332,200 |
||||||
|
Total liabilities and stockholders’ equity |
$ 33,454,725 |
$ 26,610,937 |
||||||
Wowjoint Holdings Limited (BWOW) Signs Contract with Titan Peru S.A.C.
BEIJING, May 11, 2012 /PRNewswire-Asia/ — Wowjoint Holdings Limited (”Wowjoint,” or the “Company”) (Nasdaq: BWOW, BWOWU, BWOWW), China’s innovative infrastructure solutions provider of customized heavy duty lifting and carrying machinery, today announced it entered into an agreement to provide a tire gantry to a Peruvian company.
The agreement is with Titan Peru S.A.C., an import/export company in the construction industry, for a 50 ton Rubber Tire Gantry. The equipment is used for transporting precast concrete beams from the yard to the project site. The Company has started production and received 30% of the contract price as an advance payment. This is an initial contract with Titan Peru and we expect to have future contracts to export other Wowjoint products to Peru.
“We are pleased to have another new customer and to continue our International expansion with our first sale into South America,” Mr. Yabin Liu, Chief Executive Officer of Wowjoint stated. “Our sales team has continued to focus on our expansion into new markets and we’re pleased to see the progress we’ve made with the recent agreement with customers in Malaysia and now in Peru. Wowjoint has been successful in developing a sales team and business network covering East Asia, Southeast Asia, Europe, the Middle East, North American and South America. We are excited about the opportunities we have in these new markets.”
About Wowjoint Holdings Limited
Wowjoint is a leading provider of customized heavy duty lifting and carrying machinery used in large scale infrastructure projects such as railway, highway and bridge construction. Wowjoint’s main product lines include launching gantries, tyre trolleys, special carriers, marine hoists and special purpose equipment. The Company’s innovative design capabilities have resulted in patent grants and proprietary products. Wowjoint believes it is well-positioned to benefit directly from China’s rapid infrastructure development by leveraging its extensive operational experience and long-term relationships with established blue chip customers. Information on Wowjoint’s products and other relevant information are available on its website at http://www.wowjoint.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Wowjoint undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after the date of this communication. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication. All forward-looking statements are qualified in their entirety by this cautionary statement. All subsequent written and oral forward-looking statements concerning Wowjoint or other matters and attributable to Wowjoint or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Wowjoint does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to the matters discussed in this news release.
For additional information contact:
Wowjoint Holdings:
Aubrye Foote, Vice President Investor Relations
Tel: +1-530-475-2793
Email: aubrye@wowjoint.com
Website: www.wowjoint.com
Tengion Provides Business Update and Reports Q1 2012 Financial Results
WINSTON-SALEM, N.C., May 7, 2012 /PRNewswire/ — Tengion, Inc. (NASDAQ: TNGN), a leader in regenerative medicine, today provided a business update and reported its financial results for the first quarter ended March 31, 2012.
“We continue to diligently execute on our value creating milestones for both of our two lead programs, the Neo-Urinary Conduit and the Neo-Kidney Augment,” said John L. Miclot, President and Chief Executive Officer of Tengion. “For the Neo-Urinary Conduit, we are very encouraged by the results we have seen in the fourth implanted patient in our Phase 1 trial and we remain on track to enroll up to 10 patients in this study by the end of 2012. We have also commenced the previously announced GLP animal study program to support an IND filing for the Neo-Kidney Augment program, which we believe will produce results in line with the positive data observed in our preclinical models of chronic kidney disease.”
Neo-Urinary Conduit Clinical Program Update
Tengion has implanted four patients in the ongoing Phase 1 clinical trial of its most advanced product candidate, the Neo-Urinary Conduit, for use in bladder cancer patients requiring a urinary diversion following bladder removal (cystectomy). The trial is designed to assess the safety and preliminary efficacy of the Neo-Urinary Conduit in up to 10 patients, as well as to translate the surgical procedure successfully used in preclinical animal models into clinical trials with human patients. The ongoing initial trial is being conducted at the University of Chicago Medical Center and at The Johns Hopkins Hospital in Baltimore, Maryland.
Data from the first three patients in this trial allowed clinical investigators to make surgical modifications to address stoma patency, conduit integrity, and vascular supply. Following implantation of the fourth patient in the first quarter of 2012, Tengion and its clinical investigators believe they have successfully translated the surgical technique used in animal models, which they believe will address the complications that arose in the first three patients. In addition, there have been important observations made in the four patients that reinforce the potential of a clinically meaningful product profile for the Neo-Urinary Conduit. Tengion is actively recruiting additional patients in the trial. Assuming appropriate safety data, the Company anticipates that it will complete enrollment of up to 10 patients by the end of 2012.
Neo-Kidney Augment Preclinical Program Update
Tengion’s lead preclinical program, the Neo-Kidney Augment, is intended to prevent or delay the need for dialysis or kidney transplant by catalyzing the regeneration of functional kidney tissue in patients with advanced chronic kidney disease (CKD).
Tengion has now commenced the good laboratory practice (GLP) animal study program required by the U.S. Food and Drug Administration (FDA) to support an Investigational New Drug (IND) filing and initiation of a Phase 1 clinical trial in CKD patients. These GLP studies are consistent with studies using several preclinical animal models of CKD already conducted by Tengion, which yielded positive data demonstrating slowing of kidney disease progression and improved survival.
Tengion anticipates that it will submit an IND filing for the Neo-Kidney Augment during the first half of 2013 and that its Phase 1 trial will provide initial human proof-of-concept data in 2014. Tengion is also exploring an entry strategy in Europe for its Neo-Kidney Augment product candidate using the Advanced Therapy Medicinal Products (ATMP) pathway, an established regulatory route in Europe for advanced cell-based therapies. Tengion plans to define the European regulatory pathway for Neo-Kidney Augment program in the second half of 2012.
Financial Update
For the first quarter ended March 31, 2012, the Company reported an adjusted net loss of $4.4 million, or $0.18 per basic and diluted common share, compared to an adjusted net loss of $6.5 million, or $0.41 per basic and diluted common share, for the same period in 2011. The decreased adjusted net loss for the 2012 period was primarily due to a decrease in compensation-related expenses of $1.0 million and a decrease in depreciation expense of $1.0 million.
The decreased compensation-related expenses during the 2012 period, of which $0.6 million were attributable to research and development personnel and $0.4 million were attributable to general and administrative personnel, were primarily due to lower headcount resulting from the Company’s November 2011 restructuring. The decreased depreciation expense during the 2012 period resulted from both a change during the second quarter of 2011 in the estimated useful life of leasehold improvements at the Company’s leased facility in Winston-Salem, North Carolina and an impairment during the fourth quarter of 2011 of the carrying value of the Company’s leased facility in East Norriton, Pennsylvania. The loss per basic and diluted common share for the quarter ended March 31, 2012 was significantly affected by the issuance of common stock in connection with the equity financing completed March 2011.
As of March 31, 2012, the Company held $7.3 million in cash and cash equivalents. Based upon the Company’s currently expected level of operating expenditures and debt repayments, the Company expects to be able to fund its operations to September 2012.
Conference Call and Webcast
John L. Miclot, President and Chief Executive Officer, A. Brian Davis, Chief Financial Officer and Vice President of Finance, and Dr. Tim Bertram, Chief Scientific Officer and President of Research and Development, will host a conference call today, May 7, 2012, at 5:00 p.m. EDT to provide a business update and discuss the Company’s first quarter 2012 financial results.
The call can be accessed by dialing 1-866-356-4281 (domestic) or 1-617-597-5395 (international) five minutes prior to the start time and providing the access code 33248660. The conference call can be accessed from the Investors section of the Company’s website or directly at http://www.media-server.com/m/p/rf5nyqx7. The webcast will also be archived on the website.
About Tengion
Tengion, a clinical-stage regenerative medicine company, is focused on developing its Organ Regeneration Platform™ to harness the intrinsic regenerative pathways of the body to regenerate a range of native-like organs and tissues with the goal of delaying or eliminating the need for chronic disease therapies, organ transplantation, and the administration of anti-rejection medications. An initial clinical trial is ongoing for the Company’s most advanced product candidate, the Neo-Urinary Conduit™, an autologous implant that is intended to catalyze regeneration of native-like urinary tissue for bladder cancer patients requiring a urinary diversion following bladder removal. The Company’s lead preclinical candidate is the Neo-Kidney Augment™, which is designed to prevent or delay dialysis kidney transplantation by increasing renal function in patients with advanced chronic kidney disease. Tengion has worldwide rights to its product candidates.
Forward-Looking Statements
Certain statements set forth above may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to the Company’s: (i) plans to develop and commercialize its product candidates, including the Neo-Kidney Augment and the Neo-Urinary Conduit; and (ii) expectations regarding ongoing and planned preclinical studies and clinical trials. Although Tengion believes that these statements are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there are a number of factors that may cause actual results to differ from these statements. For instance there can be no assurance that: (i) the Company will be able to successfully enroll patients in its clinical trials, including its Phase 1 clinical trial for the Neo-Urinary Conduit; (ii) patients enrolled in the Company’s clinical trials will not experience adverse events related to the Company’s product candidates, which could delay clinical trials or cause the Company to terminate the development of a product candidate; (iii) the results of the clinical trial for the Neo-Urinary Conduit will support further development of that product candidate; (iv) data from the Company’s ongoing preclinical studies, including its proposed GLP program for the Neo-Kidney Augment, will continue to be supportive of advancing such preclinical product candidates; and (v) the Company will be able to progress its product candidates that are undergoing preclinical testing, including the Neo-Kidney Augment, into clinical trials and that the Company will be successful in designing such clinical trials in a manner that supports the development of such product candidate; and (vi) the Company will be able enter into strategic partnerships on favorable terms, if at all, or obtain the capital it needs to develop its product candidates and continue its operations. For additional factors which could cause actual results to differ from expectations, reference is made to the reports filed by the Company with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. The forward looking statements in this release are made only as of the date hereof and the Company disclaims any intention or responsibility for updating predictions or expectations in this release.
|
TENGION, INC. |
||||||||||||
|
(A Development-Stage Company) |
||||||||||||
|
Statements of Operations |
||||||||||||
|
(in thousands, except per share data) |
||||||||||||
|
(unaudited) |
||||||||||||
|
Three Months Ended March 31, |
Period from July 10, 2003 (inception) through March 31, 2012 |
|||||||||||
|
2011 |
2012 |
|||||||||||
|
Revenues |
$ |
— |
$ |
— |
$ |
— |
||||||
|
Operating expenses: |
||||||||||||
|
Research and development |
3,345 |
2,694 |
120,551 |
|||||||||
|
General and administrative |
1,776 |
1,381 |
43,274 |
|||||||||
|
Depreciation |
1,127 |
136 |
23,288 |
|||||||||
|
Impairment of property and equipment |
— |
— |
7,371 |
|||||||||
|
Other expense |
942 |
48 |
1,753 |
|||||||||
|
Total operating expenses |
7,190 |
4,259 |
196,237 |
|||||||||
|
Loss from operations |
(7,190) |
(4,259) |
(196,237) |
|||||||||
|
Interest income |
14 |
7 |
8,519 |
|||||||||
|
Interest expense |
(272) |
(174) |
(15,063) |
|||||||||
|
Change in fair value of warrant liability |
419 |
(523) |
15,975 |
|||||||||
|
Net loss |
$ |
(7,029) |
$ |
(4,949) |
$ |
(186,806) |
||||||
|
Basic and diluted net loss attributable to common stockholders per share |
$ |
(0.45) |
$ |
(0.21) |
||||||||
|
Weighted-average common stock outstanding: |
||||||||||||
|
Basic and diluted |
15,711 |
23,699 |
||||||||||
|
TENGION, INC. |
|||||||
|
(A Development-Stage Company) |
|||||||
|
BALANCE SHEET DATA |
|||||||
|
(in thousands) |
|||||||
|
(unaudited) |
|||||||
|
December 31, 2011 |
March 31, 2012 |
||||||
|
Cash and cash equivalents |
$ |
9,244 |
$ |
7,349 |
|||
|
Short-term investments |
6,066 |
1,517 |
|||||
|
Total assets |
17,817 |
11,273 |
|||||
|
Warrant liability |
2,511 |
3,034 |
|||||
|
Long-term debt (including current portion) |
4,987 |
4,535 |
|||||
|
Total liabilities |
12,802 |
11,068 |
|||||
|
Total stockholders’ equity |
5,015 |
205 |
|||||
|
TENGION, INC. |
|
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES |
|
(in thousands) |
|
(unaudited) |
In accordance with Regulation G of the Securities and Exchange Commission, the table set forth below reconciles certain financial measures used in this press release that were not calculated in accordance with generally accepted accounting principles, or GAAP, with the most directly comparable financial measure calculated in accordance with GAAP.
|
Three Months Ended March 31, |
||||||||
|
2011 |
2012 |
|||||||
|
Net loss attributable to common stockholders – GAAP |
$ |
(7,029) |
$ |
(4,949) |
||||
|
Change in fair value of warrant liability |
(419) |
523 |
||||||
|
Other expense |
942 |
48 |
||||||
|
Adjusted net loss |
$ |
(6,506) |
$ |
(4,378) |
||||
|
Shares used in computing basic and diluted net loss attributable to common stockholders: |
||||||||
|
Basic and diluted |
15,711 |
23,699 |
||||||
|
Basic and diluted net loss per share – GAAP |
$ |
(0.45) |
$ |
(0.21) |
||||
|
Adjustment per share |
$ |
0.04 |
$ |
0.03 |
||||
|
Basic and diluted net loss per share – adjusted |
$ |
(0.41) |
$ |
(0.18) |
||||
SOURCE Tengion, Inc.
NOVAVAX (NVAX) Reports First Quarter 2012 Financial Results
ROCKVILLE, Md., May 4, 2012 (GLOBE NEWSWIRE) — Novavax, Inc. (Nasdaq:NVAX) today announced its financial results for the first quarter ended March 31, 2012.
The company reported a net loss of $7.3 million, or $0.06 per share, for the first quarter of 2012, compared to a net loss of $7.5 million, or $0.07 per share, for the first quarter of 2011. The company had significantly higher revenue in the first quarter of 2012 of $4.6 million as compared to $0.8 million for the same period in 2011, due primarily to revenue under the contract with the U.S. Department of Health and Human Services’ Office of Biomedical Advanced Research and Development Authority (HHS BARDA). In conjunction with the increased HHS BARDA revenue, the cost of contract revenue increased to $3.8 million in the first quarter of 2012 as compared to $0.3 million for the same period in 2011. In addition, research and development expenses remained flat year-over-year at $5.1 million.
The increase in cost of contract revenue reflects a company decision to conduct the current Phase II dose-ranging clinical trial in Australia under its existing U.S. investigational new drug application (”IND”) for its trivalent seasonal influenza vaccine candidate as opposed to waiting to conduct the trial under a new IND for its quadrivalent vaccine candidate. The company will record the outside clinical trial costs as cost of contract revenue until it submits the data from the trial for FDA review, expected in the second half of 2012. The outside clinical trial costs for this trial will be submitted for reimbursement to HHS BARDA and recorded as revenue by the company following its submission of the data to the quadrivalent IND. The financial impact of this delay in revenue recognition is based on this trial’s outside clinical trial costs that are expected to total approximately $3.1 million, of which $1.7 million was incurred through March 31, 2012.
General and administrative expenses increased to $3.2 million in the first quarter of 2012 as compared to $2.8 million for the same period in 2011, due primarily to non-cash expenses associated with the company’s new office facility and higher professional fees.
As of March 31, 2012, the company had $20.7 million in cash and cash equivalents and short-term investments compared to $18.3 million as of December 31, 2011. Net cash used in operating activities for the first quarter of 2012 was $4.2 million compared to $9.0 million for the same period in 2011, a 53% reduction from the prior year due primarily to revenue under the HHS BARDA contract.
Key Highlights during the First Quarter of 2012:
- Launched a Phase II dose-ranging clinical trial of the company’s trivalent and quadrivalent seasonal influenza virus-like particle (VLP) vaccine candidates in Australia. The trial will evaluate the immunogenicity and safety of three dose levels of the company’s seasonal recombinant VLP influenza vaccine candidates in healthy adults between the ages of 18 and 64.
- Presented positive results from a Phase I trial of the company’s recombinant nanoparticle vaccine candidate against respiratory syncytial virus (RSV) at the XIV International Symposium on Viral Infections. Findings from this Phase I trial are consistent with pre-clinical results in relevant animal models, which indicated that the company’s vaccine candidate was generally well-tolerated, highly immunogenic and produced functional antibodies that neutralized RSV.
- Reported manufacturing progress and preparations to begin clinical testing of influenza and rabies vaccines under the company’s joint venture in India with Cadila Pharmaceuticals. Rabies is the largest selling vaccine in India and China is the largest market with 12-15 million vaccine doses annually; and
- Expanded the company’s senior management team with the appointments of John Herrmann III as Vice President and General Counsel and Mervyn Hamer as Vice President of Manufacturing.
“The first quarter was a very productive period for our company as we launched a Phase II trial of our seasonal influenza vaccine candidates and reported the very encouraging, positive results from our Phase I RSV trial,” said Stanley C. Erck, President and Chief Executive Officer of Novavax. “The Phase II seasonal influenza vaccine trial is particularly important because we expect that it will help us establish the immunogenicity, safety and tolerability of our quadrivalent seasonal influenza VLP vaccine candidate. The data resulting from this trial will aid in determining the most effective and appropriate dose for evaluation in our upcoming Phase IIb dose-confirmatory trial and ultimately in our Phase III registration trial. In addition, the data from our Phase I RSV trial continues to drive interest among potential partners for this important disease target. We expect to launch two RSV clinical trials in both the elderly and women-of-child bearing-age populations in the second half of 2012.”
Conference Call
Novavax’s management will host its quarterly conference call today at 10:00 a.m. EDT. The live conference call will be accessible on Novavax’s website at www.novavax.com under “Investor Info/Events” or by telephone at 1 (877) 212-6076 (Domestic) or 1 (707) 287-9331 (International). A replay of the webcast will be available on the Novavax website for 60 days after the call and a replay of the conference call will be available beginning today at 1:00 pm through July 04, 2012. To access the replay of the conference call, dial 1 (855) 859-2056 (Domestic) or 1 (404) 537-3406 (International) and enter passcode 76044510.
About Novavax
Novavax, Inc. (Nasdaq:NVAX) is a clinical-stage biopharmaceutical company creating novel vaccines to address a broad range of infectious diseases worldwide. Using innovative virus-like particle (VLP) and recombinant nanoparticle technology, as well as new and efficient manufacturing approaches, the company produces potent vaccine candidates to combat diseases, with the goal of allowing countries to better prepare for and more effectively respond to rapidly spreading infections. Novavax is committed to using its technology platforms to create geographic-specific vaccine solutions and is therefore involved in several international partnerships, including collaborations with Cadila Pharmaceuticals of India and LG Life Sciences of Korea. Together, these companies have worldwide commercialization capacity and the global reach to create real and lasting change in the biopharmaceutical field. Additional information about Novavax is available on the company’s website, www.novavax.com.
Forward Looking Statements
Statements herein relating to the future of Novavax and its ongoing development of its vaccine products are forward-looking statements. Novavax cautions that these forward-looking statements are subject to numerous risks and uncertainties, that may cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include those identified under the heading “Risk Factors” in the Novavax Annual Report on Form 10-K for the year ended December 31, 2011, and filed with the Securities and Exchange Commission. Novavax cautions investors not to place considerable reliance on the forward-looking statements contained in this press release. Investors, potential investors, and others should give careful consideration to risks and uncertainties and are encouraged to read Novavax filings with the SEC, available at sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and Novavax undertake no obligation to update or revise any of the statements.
| NOVAVAX, INC. | ||
| CONDENSED STATEMENTS OF OPERATIONS | ||
| (in thousands, except per share information) | ||
| Three Months Ended | ||
| March 31, | ||
| 2012 | 2011 | |
| (unaudited) | ||
| Revenue | $ 4,642 | $ 834 |
| Costs and expenses: | ||
| Cost of revenue | 3,786 | 343 |
| Research and development | 5,077 | 5,071 |
| General and administrative | 3,246 | 2,850 |
| Total costs and expenses | 12,109 | 8,264 |
| Loss from operations | (7,467) | (7,430) |
| Interest income (expense), net | 30 | 44 |
| Change in fair value of warrant liability | 101 | (67) |
| Net loss | $ (7,336) | $ (7,453) |
| Basic and diluted net loss per share | $ (0.06) | $ (0.07) |
| Basic and diluted weighted average | ||
| number of common shares outstanding | 120,558 | 111,188 |
| SELECTED BALANCE SHEET DATA | ||
| (in thousands) | ||
| March 31, 2012 |
December 31, 2011 |
|
| (unaudited) | ||
| Cash and cash equivalents | $ 13,873 | $ 14,104 |
| Short-term investments | 6,847 | 4,205 |
| Total current assets | 26,442 | 26,109 |
| Working capital | 18,601 | 18,530 |
| Total assets | 68,637 | 66,576 |
| Total notes payable | 407 | 320 |
| Total stockholders’ equity | 54,324 | 53,849 |
CONTACT: Frederick W. Driscoll
VP, Chief Financial Officer and Treasurer
Novavax, Inc.
240-268-2000
Real Goods Solar (RSOL) Engages Liolios Group to Lead Investor Relations Program
LOUISVILLE, Colo., May 2, 2012 (GLOBE NEWSWIRE) — Real Goods Solar, Inc. (Nasdaq:RSOL), a leading provider of turnkey commercial and residential solar energy solutions, has engaged Liolios Group to lead a new investor relations and financial communications program.
“We have arrived at a major inflection point in our growth, demonstrated by record revenue and solid cash flow in 2011, and supported by the Alteris acquisition that has dramatically increased our economy of scale and national presence,” stated Bill Yearsley, Real Goods Solar’s chief executive officer. “With this stronger foundation in place, we believe our company and its shareholders would benefit from the experienced IR professionals at Liolios Group.”
In collaboration with Real Goods Solar management, Liolios Group will refine and deliver the company’s message to the financial community. Liolios Group will also schedule a number of one-on-one conference calls, road shows and financial conferences that will engage key influencers, such as equity analysts, institutional investors and members of the financial press.
For more information about Real Goods Solar, contact Liolios Group at 1-949-574-3860 or email RSOL@liolios.com.
About Liolios Group, Inc.
Liolios Group, Inc. is a strategic financial communications firm focused on small-cap companies across a broad range of industry classifications. Liolios Group aims to deliver superior performance in corporate messaging and positioning, investor awareness, analyst and financial press coverage, and capital attraction. Founded in 1999, Liolios Group executives have extensive experience in finance and investments, and have represented more than 125 global companies in a wide range of industries. For more information about Liolios Group, go to www.liolios.com.
About Real Goods Solar, Inc.
Real Goods Solar, Inc. (Nasdaq:RSOL) is a leading provider of turnkey commercial and residential solar energy solutions, with more than 13,000 solar systems in place. Real Goods Solar has more than 33 years of experience in solar energy, beginning with the sale in 1978 of the first solar photovoltaic panels in the United States. With 16 offices across the West and the Northeast, Real Goods Solar is one of the largest solar energy installers in the U.S. For more information about Real Goods Solar, please visit www.realgoodssolar.com, or call (888) 507-2561.
The Real Goods Solar, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6455
CONTACT: Company Contact:
John Coletta
Chief Financial Officer
Real Goods Solar, Inc.
Tel (303) 222-8310
john.coletta@realgoods.com
Investor Relations:
Ron Both
Liolios Group, Inc.
Tel (949) 574-3860
RSOL@liolios.com

PURE Bioscience (PURE) Hard Surface Showcased at National Restaurant Association Show 2012
PURE Bioscience, Inc. (NASDAQ:PURE), creator of the patented silver dihydrogen citrate (SDC) antimicrobial, today announced that Intercon Chemical Company is showcasing the PURE Complete System in conjunction with its Clearly Better Solutions product line at this year’s National Restaurant Association Show, May 5-8 at McCormick Place in Chicago (booth number 1085). The annual NRA Show draws more than 58,000 restaurant and food service industry professionals from all 50 states and more than 100 countries, and presents the newest innovations and latest information on trends and issues.
The PURE Complete System product line includes PURE Hard Surface disinfectant and food contact surface sanitizer, PURE Multi-Purpose Cleaner Concentrate and PURE Floor Cleaner Concentrate.
Jim Epstein, President of Intercon, stated, “The NRA Show is an excellent venue to present PURE Hard Surface, as restaurants bear tremendous responsibility for national food safety. Americans are spending more time and money each year eating away from home, and studies show that at least 50% of foodborne disease outbreaks can be attributed to restaurants. We know that disinfection and food contact surface sanitization is a key element of pathogen control in restaurants because bacteria and viruses survive on, and can contaminate, hard surfaces such as counters, door handles, appliances, tables, chairs and trays. Restaurants can be confident that PURE Hard Surface quickly stops the contamination cycle.”
Tom Myers, PURE Bioscience’s Executive Vice President, Sales and Marketing, added, “Even just one outbreak of foodborne illness can have devastating effects on a business, and Intercon’s presentation of the benefits of implementing PURE Hard Surface will resonate with distributors and customers. The quick kill times of PURE’s low-toxicity and odorless formula, along with SDC’s GRAS status as a contact biocide, set PURE apart from toxic chemicals currently used in restaurants. PURE Hard Surface is an ideal choice to meet the health and business challenges of food safety in the restaurant industry.”
About the PURE Complete Cleaning, Sanitizing and Disinfecting System
US EPA registered PURE Hard Surface disinfectant and food contact surface sanitizer provides an unparalleled combination of high efficacy and low toxicity with 30-second bacterial and viral kill times and 24-hour residual protection. SDC-based PURE Hard Surface completely kills resistant pathogens like MRSA and Carbapenem-resistant Klebsiella pneumoniae (NDM-1) and also effectively eliminates dangerous fungi and viruses including HIV, Hepatitis B, Hepatitis C, Norovirus, Influenza A, Avian Influenza and H1N1 as well as hazardous food pathogens such as E. coli, Salmonella and Campylobacter. PURE Hard Surface delivers powerful broad-spectrum efficacy while remaining classified as least-toxic (Category IV) by the US EPA, and its active ingredient, SDC, has been determined Generally Recognized as Safe (GRAS) for use as a biocide on food processing equipment, machinery and utensils.
PURE’s Multi-Purpose Cleaner and Floor Cleaner concentrates are non-toxic, environmentally responsible cleaning products protected by SDC, a natural, non-toxic antimicrobial. SDC ensures the quality and safety of PURE Floor Cleaner and PURE Multi-Purpose Cleaner without human or environmental exposure to toxic chemical preservatives. PURE Floor Cleaner and PURE Multi-Purpose cleaner are non-flammable and contain no EDTA, phosphates, ammonia or bleach as well as no VOCs or NPEs. PURE Floor Cleaner and PURE Multi-Purpose Cleaner provide professional strength cleaning in a concentrate formula that yields a 1:128 use dilution that is safe for use on all resilient surfaces. The PURE Complete system strengthens infection control and sustainability programs while providing a cost-effective and user-friendly solution.
About Intercon Chemical Company and Clearly Better Solutions.
Privately owned Intercon Chemical Company in St. Louis, Missouri, employees more than 150 people at its 250,000 square foot FDA and EPA-registered cGMP compliant manufacturing facility. Intercon has operated for more than 30 years in the cleaning and sanitation chemical manufacturing and service industries with expertise in formulating, manufacturing and marketing liquids, powders and solids as well as packaging and labeling. Intercon provides state-of-the-art chemical products and programs to its network of distributors in multiple markets, including: facility management companies, janitorial supply companies, food service sanitation, healthcare and infection control, commercial floor care, critical process cleaning, food processing facility maintenance, institutional laundry, contract packaging and green products. For more information about Intercon Chemical Company, please visit www.interconchemical.com. Intercon’s Clearly Better brand products and programs are designed to bring breakthrough cleaning, disinfection, sanitization, skin care, air treatment and odor control technologies to market that offer innovative solutions to solve problems not adequately addressed by current options. Clearly Better offers programs under its Smart Drains, Smart Floors, Smart Air, Clearly Better Scents and Clearly Better Medical brands. More information is available at www.clearlybetter.com.
About PURE Bioscience, Inc.
PURE Bioscience, Inc. develops and markets technology-based bioscience products that provide solutions to numerous global health challenges, including Staph (MRSA). PURE’s proprietary high efficacy/low toxicity bioscience technologies, including its silver dihydrogen citrate-based antimicrobials, represent innovative advances in diverse markets and lead today’s global trend toward industry and consumer use of “green” products while providing competitive advantages in efficacy and safety. Patented SDC is an electrolytically generated source of stabilized ionic silver, which formulates well with other compounds. As a platform technology, SDC is distinguished from competitors in the marketplace because of its superior efficacy, reduced toxicity and the inability of bacteria to form a resistance to it. PURE is headquartered in El Cajon, California (San Diego metropolitan area). Additional information on PURE is available at www.purebio.com.
This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company’s cash position and liquidity requirements, the Company’s failure to implement or otherwise achieve the benefits of its strategic initiatives, acceptance of the Company’s current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Digital Ally, Inc. (DGLY) Schedules Investor Conference Call to Discuss First Quarter 2012 Operating Results
OVERLAND PARK, KS — (Marketwire) — 05/04/12 — Digital Ally, Inc. (NASDAQ: DGLY), which develops, manufactures and markets advanced digital technology products for law enforcement, homeland security and commercial security applications, today announced that the Company will host an investor conference call on Friday, May 11, 2012 at 11:15 a.m. Eastern Time to discuss its operating results for the first quarter of 2012, along with other topics of interest. The Company will release its operating results in a press release after the market closes on Thursday, May 10, 2012.
Shareholders and other interested parties may participate in the conference call by dialing 877-317-6789 (international/local participants dial 412-317-6789) and asking to be connected to the “Digital Ally, Inc. Conference Call” a few minutes before 11:15 a.m. EDT on May 11, 2012.
A replay of the conference call will be available one hour after the completion of the conference call from May 11, 2012 until 9:00 a.m. on July 10, 2012 by dialing 877-344-7529 (international/local participants dial 412-317-0088) and entering the conference ID# 10013728.
About Digital Ally, Inc.
Digital Ally, Inc. develops, manufactures and markets advanced technology products for law enforcement, homeland security and commercial applications. The Company’s primary focus is digital video imaging and storage. For additional information, visit www.digitalallyinc.com
The Company is headquartered in Overland Park, Kansas, and its shares are traded on The Nasdaq Capital Market under the symbol “DGLY”.
For Additional Information, Please Contact:
Stanton E. Ross
CEO
(913) 814-7774
or
RJ Falkner & Company, Inc.
Investor Relations Counsel
(800) 377-9893
or via email at info@rjfalkner.com
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