Guitammer (GTMM) and Digiplex (DCIN) Join Forces to Offer “ButtKicker 4D®” to Movie Goers

WESTERVILLE, OH and WESTFIELD, NJ — (Marketwired) — 05/13/13 — The Guitammer Company (OTCQB: GTMM), a leader in low frequency sound and creator of the award-winning line of ButtKicker®-brand low frequency audio transducers that provide an immersive entertainment experience for audiences worldwide, announced today that it had entered into a Joint Marketing Agreement with Digital Cinema Destinations Corp. (NASDAQ: DCIN) (“Digiplex”).

Pursuant to the agreement, Guitammer’s ButtKicker brand low frequency transducers will be installed in Digiplex’s Solon Cinema 16 in Solon, Ohio, enabling the patented “4D” Buttkicker experience for all of the 300+ stadium seats in one of the cinema complex’s largest 3D auditoriums. Because the ButtKicker system can be used with almost all types of cinema seating, it easily integrated into Digiplex’s upgrade plan for this recently acquired complex. Additionally, because ButtKicker’s products accurately reproduce the effect of each movie’s existing “.1” and bass sound track, with no special processing or coding requirements, they can be used with all types of movies that will run in the auditorium. The ButtKicker Gamer and the Wireless ButtKicker Kit will be the featured products initially offered to Digiplex’s customers. Installation is slated for late summer 2013.

“We couldn’t be more thrilled that our initial test location for this new joint marketing program is with Digiplex, Bud and his management team,” said Mark A. Luden, Guitammer’s President. “Their expertise as theater operators and marketers, combined with their unique value proposition to stream alternative content, gives us an opportunity to partner with a company that knows how to connect with its audience and remain on the cutting edge. We anticipate increased sales of our consumer products as a result of this strategic agreement with Digiplex.”

“Guitammer hopes to roll out this type of partnership model with the Lumière theater chain throughout China in the near future as well, as per our previous press releases,” concluded Luden.

About The Guitammer Company
The Guitammer Company, based in Westerville, Ohio, is a leader in low frequency sound products and technology. Its innovative and award-winning line of patented ButtKicker-brand low frequency audio transducers let users feel low-frequency sound (bass). ButtKicker brand products are used around the world by leading entertainment and theater companies such as Alamo Drafthouse, IMAX, Disney and Lumiere Pavilions in movie theaters and attractions; by world-famous musicians; and in home theaters, by consumers for video games, simulators and car audio. ButtKicker brand products are distributed by Pearl Drums for musicians under the trade name, “Pearl’s Throne Thumper by ButtKicker”. ButtKicker brand products’ patented design makes them musically accurate, powerful and virtually indestructible.

The Guitammer Company’s newly patented broadcast technology, ButtKicker LIVE! enables the excitement, impact and feeling of sporting events to broadcast along with the sound and video. ButtKicker LIVE! puts you into the action, whether you’re at home or at the event. ButtKicker Live! technology is available for cable, satellite, fiber optic, IPTV and over-the-air broadcast and has been successfully tested with several major content (sports) providers. ButtKicker® and ButtKicker Live!® are registered trademarks of The Guitammer Company.

For additional information on The Guitammer Company and detailed product information, visit www.guitammer.com and www.thebuttkicker.com

To like our Facebook page or follow us on Twitter for company updates, visit www.facebook.com/Guitammer and www.twitter.com/Guitammer

About Digiplex
Digiplex is dedicated to transforming its movie theaters into interactive entertainment centers. The Company provides consumers with uniquely satisfying experiences, combining state-of-the-art digital technology with engaging, dynamic content that far transcends traditional cinematic fare. The Company’s customers enjoy live sports events, concerts, conferences, operas, videogames, auctions, fashion shows and, on an ongoing basis, the very best major motion pictures. As of March 21, 2013, Digiplex operates 18 cinemas and 178 screens in AZ, CA, CT, NJ, OH and PA. You can connect with Digiplex via Facebook, Twitter, YouTube and Blogger. Digiplex is also participating in DigiNext, a unique, specialty content joint venture (with Nehst Studios) featuring curated content from festivals around the world. DigiNext releases typically include innovative live Q&A sessions between the audience and cast members.

For additional information on Digiplex, visit www.digiplexdest.com

Safe Harbor:
This letter contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words “estimate,” “anticipate,” “expect,” “believe,” and similar expressions are intended to be forward-looking statements.

For More Information Contact:
Media
The Guitammer Company
(614) 898-9370
media@guitammer.com

Investors
QualityStocks
(480) 374-1336

Omeros (OMER) Reports First Quarter 2013 Financial Results

SEATTLE, May 10, 2013 /PRNewswire/ — Omeros Corporation (NASDAQ: OMER), a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products targeting inflammation, coagulopathies and disorders of the central nervous system, today announced its financial results for the first quarter of 2013.

Financial Results

Total operating expenses for the quarter ended March 31, 2013 were $11.1 million compared to $9.6 million for the same period in 2012. The increase is primarily due to research and development expenses associated with advancing Omeros’ MASP-2 program toward the clinic, employee costs and non-cash rent expense, and to selling, general and administrative expenses related to legal matters and Omeros’ planned commercial launch of OMS302 in 2014.  These higher costs were partially offset by lower clinical trial expenses related to the completion of Phase 3 clinical trials for Omeros’ OMS302 and OMS103HP programs in January 2013 and December 2012, respectively.  For the quarter ended March 31, 2013, Omeros reported a net loss of $10.5 million, or $0.40 per share, compared to a net loss of $8.9 million, or $0.40 per share, for the same period in 2012.

At March 31, 2013, Omeros had cash, cash equivalents and short-term investments of $13.3 million. On May 9, Omeros announced that it priced a public offering of 3,903,004 shares of its common stock at a price of $4.14 per share, a two percent premium over the closing price on May 8, 2013, for estimated net proceeds of $16.1 million. The offering is expected to close on or about May 14, 2013. The shares were offered and are expected to be sold to RA Capital Management and other investors in a registered direct offering conducted without an underwriter or placement agent. Omeros also did not use its at-the-market sales facility or its committed equity line financing facility, neither of which Omeros has accessed to date.

“We are pleased with the progress across our pipeline during the first quarter, including successfully completing both our OMS302 intraocular lens replacement Phase 3 clinical program and the multiple ascending dose study for our OMS824 program,” said Gregory A. Demopulos, M.D., chairman and chief executive officer of Omeros. “Looking ahead, we expect to submit the NDA for OMS302 this quarter, which will set the stage for a potential commercial launch in 2014.  Our MASP-2 and PDE7 programs are also slated for the clinic this year. There are multiple near-term milestones on the horizon, and 2013 promises to be an exciting year.”

First Quarter Highlights

• Announced the successful completion of the multiple-ascending-dose (MAD) portion of its Phase 1 clinical study evaluating OMS824, the lead compound in Omeros’ phosphodiesterase 10 (PDE10) program. OMS824 inhibits PDE10 and is being developed for the treatment of cognitive disorders, including Huntington’s disease and schizophrenia. The results of the MAD study and earlier single-ascending dose study showed that the pharmacokinetic parameters (Cmax and AUC) of OMS824 increased linearly with the dose and that the compound had a long half-life consistent with once daily dosing. OMS824 was detected in the cerebrospinal fluid at the expected concentration relative to that in the blood. The drug concentration in the cerebrospinal fluid is predicted to achieve near-complete inhibition of the PDE10 target in the brain. These results show that OMS824, at well-tolerated doses, achieves concentrations that are anticipated to effectively inhibit PDE10 and support continuing development.
• Reported data from toxicology studies evaluating OMS721, the lead human monoclonal antibody in Omeros’ mannan-binding lectin-associated serine protease-2 (MASP-2) program. The studies provide the primary safety data expected to support the initiation of OMS721 clinical studies in mid-year 2013. The pharmacokinetic results in primates demonstrated that subcutaneous administration of OMS721 resulted in maximal inhibition of the lectin pathway within six hours of administration and maintained it for two or more weeks. In addition, the bioavailability and pharmacokinetics observed in both species are expected to support subcutaneous administration in patients at a frequency of once weekly, bi-monthly or possibly at even longer intervals.
• Announced the successful completion of the 90-day safety database lock in the second of Omeros’ two pivotal Phase 3 clinical trials evaluating OMS302 in patients undergoing intraocular lens replacement surgery. OMS302, added to standard irrigation solution used during ophthalmological procedures, is Omeros’ proprietary PharmacoSurgery™ product designed to maintain intraoperative mydriasis and reduce postoperative pain and irritation resulting from cataract and other lens replacement surgery. Omeros intends to submit a New Drug Application for OMS302 to the U.S. Food and Drug Administration this quarter and a Marketing Authorization Application to the European Medicines Agency in mid-2013.
• Reported that its proprietary Cellular Redistribution Assay technology, which to date has successfully “unlocked” 46 of the 80 total Class A orphan G protein-coupled receptors (GPCRs) for drug development, has identified small molecules that interact with a Class B GPCR. Like the Class A GPCRs, Class B receptors are important players in a broad range of disorders, having been linked to various types of cancer (e.g., breast, brain, prostate, kidney, liver, pancreatic and gastrointestinal); multiple sclerosis, attention deficit-hyperactivity, learning and memory impairments, depression and other neuropsychiatric disorders; multiple metabolic disorders including diabetes and obesity; immunologic disorders; osteoporosis and infertility.

About Omeros Corporation
Omeros is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products targeting inflammation, coagulopathies and disorders of the central nervous system. The Company’s most clinically advanced product candidates, OMS302 for lens replacement surgery and OMS103HP for arthroscopy, are derived from its proprietary PharmacoSurgery™ platform designed to improve clinical outcomes of patients undergoing a wide range of surgical and medical procedures. Omeros has five clinical development programs. Omeros may also have the near-term capability, through its GPCR program, to add a large number of new drug targets and their corresponding compounds to the market. Behind its clinical candidates and GPCR platform, Omeros is building a diverse pipeline of protein and small-molecule preclinical programs targeting inflammation, coagulopathies and central nervous system disorders.

Forward-Looking Statements
This press release contains forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, which are subject to the “safe harbor” created by those sections. These statements include, but are not limited to, Omeros’ expectations regarding the closing date of the public offering; the submission dates for the OMS302 New Drug Application and Marketing Authorization Application; when it will be able to market and sell OMS302; when it will commence clinical trials for its MASP-2 and PDE7; the potential benefits of its potential products; and its capability, through its GPCR program, to add a large number of new drug targets and their corresponding compounds to the market. Forward-looking statements are based on management’s beliefs and assumptions and on information available to management only as of the date of this press release. Omeros’ actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including, without limitation, the risks, uncertainties and other factors described under the heading “Risk Factors” in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 9, 2013. Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements, and the Company assumes no obligation to update these forward-looking statements publicly, even if new information becomes available in the future.

(NETE)’s Recent Acquisition Ranked by Nilson Report as a Top Merchant Acquirer

Unified Payments Jumps Ten Spots in Nilson Report’s Annual Rating

Net Element International (NASDAQ: NETE), a technology-driven group specializing in electronic commerce and mobile payment processing is pleased to announce that The Nilson Report has recently ranked Unified Payments as one of the Top Merchant Acquirers in the United States. Unified Payments continues its ascent by rising ten slots to the ranking of #53 in the most recent filing of The Nilson Report. The Nilson list represents 94 top merchant acquirers in the United States and includes companies such as Bank of America, First Data, Chase Paymentech Solutions, and many other reputed companies.

Unified Payments, which was recognized by Inc. Magazine as the fastest-growing private company in America in 2012, is a socially responsible leading provider of turnkey transaction processing services and payment-enabling technologies to small, medium, and large merchants across the United States. By utilizing the products and services offered by Unified Payments, merchants are able to accept traditional card present, mobile payments, card-not present payments, and other forms of cashless payments such as prepaid cards, stored-value cards, gift cards and closed loop network payments. Unified Payments, headquartered in Miami, utilizes a network of independent sales organizations and independent sales people, value-added resellers, associations and affinity partners coast to coast.

“We are excited to appear on the Nilson Report’s list of Top U.S. Acquirers and we are pleased with our dramatic jump in the rankings,” said Oleg Firer, CEO of Net Element, the parent company of Unified Payments. Adding, “We’re honored to be listed alongside high profile companies that are considered to be industry giants.”

Unified Payments anticipated the rise of consumer demand for the convenience of cashless transactions. By executing a series of strategic acquisitions and implementing creative sales plans it was able to exponentially grow its revenue base. At the same time it secured a leadership position in the industry by pursuing technological innovation including offering proprietary point of sale terminals that have state of the art technology — ultimately simplifying operations for merchants and lowering processing fees.

About The Nilson Report

The Nilson Report is a highly respected source of global news and analysis covering the credit, debit and prepaid card industries. The subscription newsletter provides in-depth rankings and statistics on the current status of the industry, as well as company, personnel, and product updates. David Robertson, Publisher of the Nilson Report, is a recognized expert in the field and is a frequent speaker at industry conferences. Over 18,000 readers in 90 countries worldwide value The Nilson Report to track industry trends and market information. More information is available at www.nilsonreport.com.

About Net Element International (NASDAQ: NETE)

Net Element International (NASDAQ: NETE) is a global technology-driven group specializing in electronic commerce, mobile payments and transactional services. The company owns and operates a global mobile payments and transaction processing provider, TOT Group, as well as several popular content monetization verticals. Together with its subsidiaries, Net Element International enables ecommerce and content-management companies to monetize their assets in ecommerce and mobile commerce environments. Its global development centers and high-level business relationships in the United States, Russia and Commonwealth of Independent States strategically position the company for continued growth. The company has U.S. headquarters in Miami and international headquarters in Moscow. More information is available at www.netelement.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, whether Net Element International or its business continues to grow. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Net Element International and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: (i) Net Element International’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element International’s ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element International’s ability to successfully expand in existing markets and enter new markets; (iv) Net Element International’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Net Element International’s business; (viii) changes in government licensing and regulation that may adversely affect Net Element International’s business; (ix) the risk that changes in consumer behavior could adversely affect Net Element International’s business; (x) Net Element International’s ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K and the subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K filed by Net Element International with the Securities and Exchange Commission. Net Element International anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element International assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.

(HUSA) Announces Recompletion and Initial Test Results in Louisiana

HOUSTON, May 10, 2013 /PRNewswire/ — Houston American Energy Corp. (NYSE MKT: HUSA) announced today that Pennington Oil & Gas, LLC, the operator of the Crown Paper #1 well in the Profit Island Field in East Baton Rouge Parish, Louisiana, has successfully carried out a recompletion of the Crown Paper #1 well.  Houston American holds a 5.675% royalty interest in the well, which interest will be reduced to a 2.838% royalty interest after Houston American’s receipt of royalties totaling approximately $225,000.   Houston American also holds working interests and royalty interest in adjacent acreage to the Profit Island Field.

The Crown Paper #1 well came back on production following the recompletion on April 25, 2013 and is currently producing in excess of 300 barrels of condensate and 900 mcf of gas per day.

John Terwilliger, Chief Executive Officer of Houston American Energy, stated, “While it is early in its production life for this new interval, I am very pleased with the initial production from the well.  As a royalty owner, Houston American is not privy to all of the data on the well and can’t speak as to the future cash flows that may be realized from the well.  Nonetheless, I view the successful recompletion in the Tuscaloosa Sand as favorable to our Profit Island and North Profit Island Prospects.  Houston American will continue to evaluate this area as well as pursue other domestic opportunities.”

About Houston American Energy Corp.

Based in Houston, Texas, Houston American Energy Corp. is an independent energy company with interests in oil and natural gas wells and prospects. The Company’s business strategy includes a property mix of producing and non-producing assets with a focus on Colombia, Texas and Louisiana. Additional information can be accessed by reviewing our Form 10-K and other periodic reports filed with the Securities and Exchange Commission.

For additional information, view the company’s website at www.houstonamericanenergy.com or contact the Houston American Energy Corp. at (713) 222-6966.

Forward-Looking Statements

Disclosures in this press release may contain forward-looking statements relating to anticipated or expected events, activities, trends or results.  Such forward-looking statements, include, but are not limited to, statements regarding future levels of production, future development activities, ability to successfully explore for and develop reserves and other statements that are not historical facts.  Forward-looking statements, can be identified by the use of forward looking terminology such as “believes,” “suggests,” “expects,” “may,” “goal,” “estimates,” “should,” “likelihood,” “plans,” “targets,” “intends,” “could,” or “anticipates,” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy or objectives. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Such statements are made to provide the public with management’s current assessment of the Company’s business, and it should not be assumed that actual results will prove these statements to be correct. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. The forward-looking statements contained in this press release speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to report any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based. Certain factors may cause results to differ materially from those anticipated by some of the statements made in this release. Please carefully review our filings with the SEC as we have identified many risk factors that impact our business plan.

Dataram (DRAM) Announces Memory Manufacturing Partnership with AMD

Dataram Corporation [NASDAQ: DRAM]), a leading international manufacturer of computer memory and software products, announced an expanded partnership with Advanced Micro Devices, Inc. (NYSE: AMD) as described in a recent press release. This partnership includes Dataram Corporation as an AMD memory-manufacturing partner to produce AMD’s new Gamer Series memory. Dataram and AMD previously announced a formal agreement for Dataram to develop an AMD-branded version of Dataram’s popular RAMDisk software. Gamer Series memory is compatible with AMD and Intel platforms, supporting both AMP and XMP memory profiles. The memory is being sold and marketed under the AMD Radeon™ Memory brand, targeting gaming enthusiasts interested in exceptional memory performance and reliability.

In addition to the launch of AMD Radeon Gamer Series memory, Dataram is partnered with AMD to produce AMD Radeon Value, Entertainment and Performance series memory products. Newegg.com is the launch partner for these products, which are available for purchase on its website. Dataram is actively expanding the current offerings within each of the AMD Radeon Memory product lines. It’s proprietary RAMDisk product is currently utilized by individuals and commercial users in a number of attractive market segments. Dataram plans to develop even higher performance RAMDisk products to further expand into these markets.

About Dataram Corporation

Founded in 1967, Dataram is a worldwide leader in the manufacture of high-quality computer memory and software products. Dataram products and services deliver IT infrastructure optimization, dramatically increase application performance and deliver substantial cost savings. Dataram solutions are deployed in 70 Fortune 100 companies and in mission-critical government and defense applications around the world. For more information about Dataram, visit www.dataram.com.

About AMD

AMD (NYSE: AMD) is a semiconductor design innovator leading the next era of vivid digital experiences with its groundbreaking AMD Accelerated Processing Units (APUs) that power a wide range of computing devices. AMD’s server computing products are focused on driving industry-leading cloud computing and virtualization environments. AMD’s superior graphics technologies are found in a variety of solutions ranging from game consoles, PCs to supercomputers. For more information, visit www.amd.com.

AMD Radeon^™ memory is designed and tested to work with AMD platforms and components but may not be supported on all chipsets and processors developed by other manufacturers. Check with your component or system manufacturer to ensure AMD Radeon memory is compatible with a specific model or platform.

The information provided in this press release may include forward-looking statements relating to future events, such as the development of new products, pricing and availability of raw materials or the future financial performance of the Company. Actual results may differ from such projections and are subject to certain risks including, without limitation, risks arising from: changes in the price of memory chips, changes in the demand for memory systems, increased competition in the memory systems industry, order cancellations, delays in developing and commercializing new products and other factors described in the Company’s most recent Annual Report on Form 10-K, filed with the Securities and Exchange Commission, which can be reviewed at www.sec.gov.

Radio One (ROIA) Reports First Quarter Results

WASHINGTON, May 9, 2013 /PRNewswire/ — Radio One, Inc. (NASDAQ: ROIAK and ROIA) today reported its results for the quarter ended March 31, 2013.  Net revenue was approximately $99.1 million, a decrease of 3.7% from the same period in 2012, resulting primarily from a timing difference of two annual special events.  Station operating income¹ was approximately $35.9 million, an increase of 8.6% from the same period in 2012. The Company reported operating income of approximately $15.5 million for the three months ended March 31, 2013, compared to operating income of $13.8 million for the same period in 2012. Net loss was approximately $18.1 million or $0.36 per share compared to a net loss of $79.2 million or $1.58 per share, for the same period in 2012.

(Logo: http://photos.prnewswire.com/prnh/20090806/PH57529LOGO )

Alfred C. Liggins, III, Radio One’s CEO and President stated, “I was pleased with our Q1 core radio revenue growth of 4.9% in a flat market, which helped us to grow the radio division’s adjusted EBITDA by 10.7%. Our two largest travel based events, the Tom Joyner Fantastic Voyage and One Love Gospel Getaway, are both taking place in Q2 2013 compared to Q1 in 2012, which effectively moves approximately $7.6 million of revenue and $594,000 of station operating profit from Q1 to Q2 compared to prior year. Our Cable Television segment had Q1 revenue and adjusted EBITDA growth of 11.6% and 27.7%, respectively, and continues its positive growth momentum. During the first quarter we integrated our syndicated shows and corporate sales into Reach Media, and I expect a strong return to profitability for that business unit in the second quarter. The Company repurchased almost 1.0 million shares at an average price of $1.59 during the quarter, and I believe that will generate a great long term return for shareholders. Core radio pacings for Q2 are currently up low single digits; we are seeing strong national performance, particularly in larger markets, but widespread softness in local business.”

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements represent management’s current expectations and are based upon information available to Radio One at the time of this release. These forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond Radio One’s control, that may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements.  Important factors that could cause actual results to differ materially are described in Radio One’s reports on Forms 10-K/A, 10-K, 10-Q/A, 10-Q, 8-K and other filings with the Securities and Exchange Commission (the “SEC”). Radio One does not undertake any duty to update any forward-looking statements.

Net revenue decreased to approximately $99.1 million for the quarter ended March 31, 2013, from approximately $103.0 million for the same period in 2012, a decrease of 3.7%. Adjusting for the impact of moving our syndicated programming to Reach Media, net revenues from our Radio Broadcasting segment for the quarter ended March 31, 2013, increased 1.4% from the same period in 2012. Furthermore, adjusting for the timing difference for the Company’s annual Gospel Cruise event held in March 2012 versus during the second quarter of 2013, our core radio revenue from our stations increased 4.9% for the quarter ended March 31, 2013, compared to the same period in 2012. Adjusting for the impact of moving our syndicated programming to Reach Media, Reach Media’s net revenues decreased 44.0% in the first quarter 2013 compared to the same period in 2012 primarily due to the timing of the “Tom Joyner Fantastic Voyage” which took place during the three months ended March 31, 2012, and generated revenue of approximately $5.9 million for Reach Media during that time. Further, adjusting for the timing difference for the “Tom Joyner Fantastic Voyage,” Reach Media’s revenue decreased 13.9% for the quarter ended March 31, 2013, compared to the same period in 2012. We recognized approximately $36.0 million and $32.2 million of revenue from our Cable Television segment during the three months ended March 31, 2013, and 2012, respectively. Net revenues for our internet business decreased 12.7% for the three months ended March 31, 2013, compared to the same period in 2012.

Operating expenses, excluding depreciation and amortization and stock-based compensation decreased to approximately $72.6 million for the quarter ended March 31, 2013, from approximately $79.4 million for the quarter ended March 31, 2012, a decrease of 8.6%. The decreased expense for the three months ended March 31, 2013, compared to the same period in 2012 is primarily due to timing of the Company’s annual Gospel Cruise event and Reach Media’s “Tom Joyner Fantastic Voyage” event, both held in March 2012. Reach Media’s event and the One Love Gospel Getaway generated expenses of approximately $7.0 million for the quarter ended March 31, 2012.

Depreciation and amortization expense decreased to approximately $9.5 million compared to approximately $9.7 million for the quarters ended March 31, 2013 and 2012, respectively. The decrease was due to the completion of amortization for certain intangible assets and the completion of useful lives for certain assets.

Impairment of long-lived assets for the three months ended March 31, 2013, increased to approximately $1.4 million and related to a non-cash impairment charge recorded to reduce the carrying value of our Cincinnati radio broadcasting licenses.

Interest expense decreased to approximately $22.2 million for the quarter ended March 31, 2013, from approximately $23.7 million for the same period in 2012, a decrease of 6.3%. The Company made cash interest payments of approximately $20.7 million for the quarter ended March 31, 2013, compared to cash interest payments of approximately $15.5 million for the quarter ended March 31, 2012. The primary driver of the increase was that through May 15, 2012, interest on the Company’s 12½%/15% Senior Subordinated Notes (“Senior Subordinated Notes”) was payable, at our election, partially in cash and partially through the issuance of additional Senior Subordinated Notes (a “PIK Election”) on a quarterly basis.  The PIK Election expired on May 15, 2012, and interest accruing on the Senior Subordinated Notes from and after May 15, 2012, accrued at a rate of 12½% and was payable in cash.

The provision for income taxes for the quarter ended March 31, 2013, was approximately $6.7 million, primarily attributable to the deferred tax liability (“DTL”) for indefinite-lived intangible assets. Because our income tax expense does not have a correlation to our pre-tax earnings, changes in those earnings can have a significant impact on the income tax expense we recognize. As a result, we believe the actual effective tax rate best represents the estimated effective rate for the three month period ended March 31, 2013. Accordingly, the Company used the actual effective tax rate as of March 31, 2013. This is a change from the method used for the $65.3 million recognized during the period ended March 31, 2012, which was based on the estimated annual effective tax rate.  The Company paid $8,000 and $60,000 in taxes for the quarters ended March 31, 2013 and 2012, respectively.

Income (loss) from discontinued operations, net of tax, includes the results of operations for our sold radio stations (or stations made the subject of a local marketing agreement). Income from discontinued operations, net of tax, was $903,000 for the quarter ended March 31, 2013, compared to a loss from discontinued operations, net of tax, of $15,000 for the same period in 2012. The activity for the three months ended March 31, 2013, resulted primarily from the sale of our Columbus, Ohio radio station, WJKR-FM (The Jack, 98.9 FM) in February 2013 which resulted in a gain of $893,000.  The income (loss) from discontinued operations, net of tax, includes no tax provision for the three months ended March 31, 2013 and 2012.

The increase in noncontrolling interests in income of subsidiaries is due primarily to greater net income generated by TV One during the three months ended March 31, 2013, compared to the same period in 2012.

Other pertinent financial information includes capital expenditures of approximately $2.2 million and $3.0 million for the quarters ended March 31, 2013 and 2012, respectively.  The Company received dividends from TV One in the amount of approximately $8.2 million and $4.3 million for the quarters ended March 31, 2013 and 2012, respectively.  As of March 31, 2013, the Company had total debt (net of cash balances) of approximately $771.0 million. The Company’s cash and cash equivalents by segment are as follows:  Radio and Internet, approximately $23.8 million; Reach Media, approximately $1.6 million; and Cable Television, approximately $21.0 million. In addition to cash and cash equivalents, the cable television segment also has short-term investments of approximately $3.2 million and long-term investments of $68,000. During the quarter ended March 31, 2013, the Company repurchased 7,150 shares of Class A common stock in the amount of $11,026 and 951,974 shares of Class D common stock in the amount of $1,514,903.  There were no stock repurchases made during the quarter ended March 31, 2012.

Supplemental Financial Information:

For comparative purposes, the following more detailed, unaudited statements of operations for the three months ended March 31, 2013 and 2012 are included.  These detailed, unaudited and adjusted statements of operations include certain reclassifications associated with accounting for discontinued operations.  These reclassifications had no effect on previously reported net income or loss, or any other previously reported statements of operations, balance sheet or cash flow amounts.

Effective January 1, 2013, the Radio Broadcasting segment contributed the assets and operations of its Syndication One urban programming line-up to Reach Media. We consolidated our syndication operations within Reach Media to leverage that platform to create the leading syndicated radio network targeted to the African-American audience.  In connection with the consolidation, we shifted our syndicated programming sales to an internal sales force operating out of Reach Media.  Segment data for the three months ended March 31, 2012, has been reclassified to conform to the current period presentation.

Radio One, Inc. will hold a conference call to discuss its results for first fiscal quarter of 2013. This conference call is scheduled for Thursday, May 9, 2013, at 10:00 a.m. EDT. To participate on this call, U.S. callers may dial toll-free 1-800-230-1096; international callers may dial direct (+1) 612-288-0337.

A replay of the conference call will be available from 12:00 p.m. EDT May 09, 2013, until 11:59 p.m. May 12, 2013. Callers may access the replay by calling 1-800-475-6701; international callers may dial direct (+1) 320-365-3844. The replay Access Code is 292146. Access to live audio and a replay of the conference call will also be available on Radio One’s corporate website at http://www.radio-one.com/. The replay will be made available on the website for seven days after the call.

Radio One, Inc., together with its subsidiaries (http://www.radio-one.com/), is a diversified media company that primarily targets African-American and urban consumers. The Company is one of the nation’s largest radio broadcasting companies, currently owning and/or operating 54 broadcast stations located in 16 urban markets in the United States. Through its controlling interest in Reach Media, Inc. (http://www.blackamericaweb.com/), the Company also operates syndicated programming including the Tom Joyner Morning Show, the Russ Parr Morning Show, the Yolanda Adams Morning Show, the Rickey Smiley Morning Show, CoCo Brother Live, CoCo Brother’s “Spirit” program, Bishop T.D. Jakes’ “Empowering Moments”, and the Reverend Al Sharpton Show. Beyond its core radio broadcasting franchise, Radio One owns Interactive One (http://www.interactiveone.com/), an online platform serving the African-American community through social content, news, information, and entertainment. Interactive One operates a number of branded sites, including News One, UrbanDaily, HelloBeautiful and social networking websites, including BlackPlanet, MiGente, and Asian Avenue. In addition, the Company owns a controlling interest in TV One, LLC (http://www.tvoneonline.com/), a cable/satellite network programming primarily to African-Americans.

Notes:

1              “Station operating income” consists of net loss before depreciation and amortization, corporate expenses, stock-based compensation, equity in income of affiliated company, income taxes, noncontrolling interest in income (loss) of subsidiaries, interest expense, impairment of long-lived assets, other (income) expense, loss (gain) on retirement of debt, (income) loss from discontinued operations, net of tax, interest income and gain on purchase of affiliated company. Station operating income is not a measure of financial performance under generally accepted accounting principles. Nevertheless station operating income is a significant basis used by our management to measure the operating performance of our stations within the various markets because station operating income provides helpful information about our results of operations apart from expenses associated with our fixed assets and long-lived intangible assets, income taxes, investments, debt financings and retirements, overhead, stock-based compensation, impairment charges, and asset sales. Our measure of station operating income may not be comparable to similarly titled measures of other companies as our definition includes the results of all four segments (radio broadcasting, Reach Media, internet and cable television). Station operating income does not purport to represent operating income or cash flow from operating activities, as those terms are defined under generally accepted accounting principles, and should not be considered as an alternative to those measurements as an indicator of our performance. A reconciliation of net income (loss) to station operating income has been provided in this release.

2              Certain reclassifications associated with accounting for discontinued operations have been made to prior period balances to conform to the current presentation. These reclassifications had no effect on any other previously reported or consolidated net income or loss or any other statement of operations, balance sheet or cash flow amounts. Where applicable, these financial statements have been identified as “as adjusted.”   In addition, certain reclassifications have been made associated with the transfer and consolidation of our syndication operations within Reach Media.  These reclassifications occurred between the Radio Broadcasting segment, Reach Media segment and Corporate/Eliminations/Other.

3              For the quarters ended March 31, 2013 and 2012, Radio One had 49,861,964 and 49,994,974 shares of common stock outstanding on a weighted average basis for both basic and diluted, respectively.

4              “Adjusted EBITDA” consists of net loss plus (1) depreciation, amortization, income taxes, interest expense, noncontrolling interest in income of subsidiaries, impairment of long-lived assets, stock-based compensation, loss on retirement of debt, loss from discontinued operations, net of tax, less (2) equity in income of affiliated company, other income, interest income, gain on retirement of debt and gain on purchase of affiliated company. Net income before interest income, interest expense, income taxes, depreciation and amortization is commonly referred to in our business as “EBITDA.” Adjusted EBITDA and EBITDA are not measures of financial performance under generally accepted accounting principles. We believe Adjusted EBITDA is often a useful measure of a company’s operating performance and is a significant basis used by our management to measure the operating performance of our business because Adjusted EBITDA excludes charges for depreciation, amortization and interest expense that have resulted from our acquisitions and debt financing, our taxes, impairment charges, as well as our equity in (income) loss of our affiliated company, gain on retirements of debt, and any discontinued operations. Accordingly, we believe that Adjusted EBITDA provides useful information about the operating performance of our business, apart from the expenses associated with our fixed assets and long-lived intangible assets, capital structure or the results of our affiliated company. Adjusted EBITDA is frequently used as one of the bases for comparing businesses in our industry, although our measure of Adjusted EBITDA may not be comparable to similarly titled measures of other companies. Adjusted EBITDA and EBITDA do not purport to represent operating income or cash flow from operating activities, as those terms are defined under generally accepted accounting principles, and should not be considered as alternatives to those measurements as an indicator of our performance. A reconciliation of net income (loss) to EBITDA and Adjusted EBITDA has been provided in this release.

Chyron (CHYR) Reports Financial Results for the First Quarter 2013

MELVILLE, NY — (Marketwired) — 05/09/13 — Chyron Corporation (NASDAQ: CHYR), a leading provider of Graphics as a Service for on-air and digital video applications, today announced its financial results for the first quarter ended March 31, 2013.

First Quarter 2013 Financial Highlights include:

• 1Q2013 total revenues increased 2% to $8.01 million compared to $7.88 million in 1Q2012;
• Product revenues in 1Q2013 increased 3% to $5.97 million compared to $5.80 million in 1Q2012;
• Services revenues in 1Q2013 decreased 2% to $2.04 million compared to $2.08 million in 1Q2012;
• Operating expenses in 1Q2013 decreased 1% to $6.53 million compared to $6.62 million in 1Q2012. Included in 1Q2013 operating expenses were $0.69 million in transaction costs related to the planned acquisition of Hego AB, expected to close later this month. Excluding these costs, operating expenses would have decreased 12% to $5.84 million compared to 1Q2012;
• Operating loss in 1Q2013 decreased 25% to $(0.81) million compared to operating loss of $(1.07) million in 1Q2012. Excluding the Hego transaction costs, operating loss would have decreased 89% to $(0.11) million compared to 1Q2012;
• Net loss in 1Q2013 decreased 4% to $(0.92) million compared to net loss of $(0.95) million in 1Q2012. Excluding the Hego transaction costs, net loss would have decreased 76% to $(0.22) million compared to 1Q2012.

Michael Wellesley-Wesley, Chyron CEO, said, “We expect to close our acquisition of Hego AB on May 22, 2013. Hego is well managed, profitable and fast growing, and some of the public company costs that have hitherto been borne entirely by Chyron alone will now be allocated across the larger combined entity. In early April, we presented at the annual NAB Tradeshow for the first time introducing the ChyronHego brand and we experienced strong interest in our combined News and Sports product range. I expect to see this interest translate into revenue in the second half of 2013. Our reported first quarter performance shows a small year over year revenue increase and a small improvement in operating expense. However, if we strip out Hego related transaction costs a different picture begins to emerge. Excluding Hego transaction costs Chyron’s operating loss would have decreased 89% year over year. On May 2, 2013, we announced that we had reduced the workforce by a further 20 people for incremental annual operating expense savings of $3 million; this will result in a different and improved financial model.”

First Quarter 2013 Financial Results

Total revenues for the first quarter of 2013 increased 2% to $8.01 million compared to $7.88 million in the first quarter of 2012.

Product revenues for the first quarter increased 3% to $5.97 million compared to $5.80 million in the comparable 2012 quarter. First quarter 2013 service revenues, which include revenues from the Company’s Axis cloud-based graphics service as well as systems hardware and software maintenance agreements, systems commissioning, training and creative services, decreased 2% to $2.04 million compared to $2.08 million in the comparable quarter of 2012.

Gross profit margin for the first quarter of 2013 increased to 71% compared to 70% in last year’s first quarter.

Operating expenses for the first quarter were $6.53 million compared to $6.62 million for the first quarter of 2012, representing a 1% decrease. Included in first quarter of 2013 operating expenses were $0.69 million of transaction costs related to the acquisition of Hego AB which is planned for later this month. Excluding these transaction costs, operating expenses for the first quarter of 2013 were $5.84 million, representing a 12% decrease from operating expenses for last year’s first quarter. First quarter of 2013 operating expenses were lower than last year’s operating expenses in both research and development and sales and marketing, and general and administrative expenses were essentially flat when Hego transaction costs are excluded.

Operating loss for the first quarter of 2013 was $(0.81) million as compared to an operating loss of $(1.07) million in the first quarter of 2012. Excluding Hego transaction costs, operating loss would have been $(0.11) million, or 89% less than last year’s first quarter operating loss.

Net loss in the first quarter was $(0.92) million compared to net loss of $(0.95) million in the comparable quarter of 2012. Excluding the Hego transaction costs, net loss for the first quarter of 2013 would have decreased 76% to $(0.22) million compared to last year’s first quarter.

Conference Call and Webcast: First Quarter 2013 Financial Results:

Chyron Corporation management will host a conference call on Thursday, May 9, 2013, at 10:00 AM eastern time, to review the first quarter 2013 results. Participants using the telephone should dial 877-556-5248 (U.S. and Canada) or 720-545-0029 (International), and enter conference code 64448349. Web participants are encouraged to go to http://investor.chyron.com or www.earnings.com. A replay will be available shortly after the call on http://investor.chyron.com, click on Events & Presentations.

About Chyron

Chyron (NASDAQ: CHYR) is a leading provider of Graphics as a Service for on-air and digital video applications including newsrooms, studios, sports broadcasting facilities, and corporate video environments. An Emmy® Award-winning company whose products have defined the world of digital and broadcast graphics, Chyron’s graphics solutions include the Axis World Graphics online content creation software and order management system, on-air graphics systems, clip servers, channel branding, and graphics asset management solutions, all of which may be incorporated into the Company’s BlueNet™ end-to-end graphics workflow. More information about Chyron products and services is available on the Company websites: www.chyron.com and www.axisgraphics.tv. The Company’s investor relations information is at www.chyron.com, click on Investors.

Special Note Regarding Forward-looking Statements

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to: (i) our expectation that with lower operating expenses in the first quarter of 2013 as compared to the first quarter of 2012, and an estimated further reduction of $3 million annually in operating expenses as a result of the reduction in workforce on May 2, 2013, a different and improving financial model will emerge, (ii) our expectation that the acquisition of Hego AB later this month will take place as planned, and, (iii) our expectation that as a result of the new ChyronHego combined News and Sports product range to be offered by ChyronHego, our revenues will increase in the second half of 2013. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: current and future economic conditions that may adversely affect our business and customers; potential fluctuation of our revenues and profitability from period to period which could result in our failure to meet expectations; our ability to integrate the operations of Chyron and Hego successfully and in a timely manner; our ability to maintain adequate levels of working capital; our ability to successfully maintain the level of operating costs; our ability to obtain financing for our future needs should there be a need; our ability to incentivize and retain our current senior management team and continue to attract and retain qualified scientific, technical and business personnel; our ability to expand our Axis online graphics creation solution or to develop other new products and services; our ability to generate sales and profits from our Axis online graphics services, workflow and asset management solutions; rapid technological changes and new technologies that could render certain of our products and services to be obsolete; competitors with significantly greater financial resources; introduction of new products and services by competitors; challenges associated with expansion into new markets; failure to stay in compliance with all applicable NASDAQ requirements could result in NASDAQ delisting our common stock; and, other factors discussed under the heading “Risk Factors” contained in Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2012, which has been filed with the Securities and Exchange Commission, as well as any updates to those risk factors filed from time to time. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.

                             CHYRON CORPORATION
        CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
                  (In thousands, except per share amounts)

                                                        Three Months Ended
                                                             March 31,
                                                       --------------------
                                                          2013       2012
                                                       ---------  ---------

Net revenues                                           $   8,017  $   7,877
Gross profit                                               5,722      5,542
Operating expenses:
  Selling, general and administrative                      4,751      4,685
  Research and development                                 1,780      1,931
                                                       ---------  ---------
Total operating expenses                                   6,531      6,616
                                                       ---------  ---------
Operating (loss)                                            (809)    (1,074)
Interest and other income (expense), net                     (97)         2
                                                       ---------  ---------
(Loss) before taxes                                         (906)    (1,072)
Income tax benefit (expense), net                            (11)       121
                                                       ---------  ---------
Net (loss)                                             $    (917) $    (951)
                                                       =========  =========

Net (loss) per common share -
  Basic                                                $   (0.05) $   (0.06)
  Diluted                                              $   (0.05) $   (0.06)
Weighted average number of common and
common equivalent shares outstanding:
    Basic                                                 17,362     16,807
    Diluted                                               17,362     16,807

              CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
                               (in thousands)

                                                     March 31,  December 31,
                                                       2013         2012
                                                   ------------ ------------
Assets:
Cash and cash equivalents                          $      2,309 $      2,483
Accounts receivable, net                                  5,611        5,630
Inventories, net                                          2,097        2,285
Other current assets                                        754          626
                                                   ------------ ------------
  Total current assets                                   10,771       11,024
Goodwill and intangible assets, net                       2,601        2,625
Other non-current assets                                  1,371        1,466
                                                   ------------ ------------
    Total assets                                   $     14,743 $     15,115
                                                   ============ ============

Liabilities and shareholders' equity:
Current liabilities                                $      7,638 $      7,315
Non-current liabilities                                   5,763        5,819
                                                   ------------ ------------
    Total liabilities                                    13,401       13,134
                                                   ------------ ------------

Shareholders' equity                                      1,342       _1,981
                                                   ------------ ------------
Total liabilities and shareholders' equity         $     14,743 $     15,115
                                                   ============ ============

All trademarks and registered trademarks mentioned herein are the property of their respective owners.

Facebook: http://www.facebook.com/chyronhego
LinkedIn: http://www.linkedin.com/company/chyron
Twitter: http://twitter.com/chyronhego
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User Forum: http://forum.chyron.com/vbb/index.php
YouTube: http://www.youtube.com/user/chyronmelville
Pinterest: http://pinterest.com/chyronhego/

Copyright 2013 Chyron Corporation

Contact:
Chyron Investor Relations
Tel: (631) 845-2000, press 7

Vermillion (VRML) Announces Equity Financing

AUSTIN, Texas, May 9, 2013 /PRNewswire/ — Vermillion, Inc. (NASDAQ: VRML), a molecular diagnostics company focused on gynecologic cancers and women’s health, announced that Oracle Investment Management, Jack W. Schuler, Matthew W. Strobeck and other investors, have agreed, subject to closing conditions, to make an initial investment of $13.2 million by purchasing 8.0 million shares of the Company’s common stock. Upon the closing of the transaction, Vermillion will be issuing the investors 12.5 million warrants with a strike price of $1.46. If and when the warrants are exercised, the company will realize an additional $18.3 million in proceeds, bringing the total investment to $31.5 million, before transaction costs.

Proceeds from this transaction will be used to increase test sales and improve reimbursement for OVA1, expand the commercial opportunity into new markets and advance one or more next-generation ovarian cancer diagnostic tests.

Forward-Looking Statement

Certain matters discussed in this press release contain forward-looking statements that involve significant risks and uncertainties, including statements regarding Vermillion’s plans, objectives, expectations and intentions. These forward-looking statements are based on Vermillion’s current expectations. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for such forward-looking statements. In order to comply with the terms of the safe harbor, Vermillion notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. Factors that could cause actual results to materially differ include but are not limited to: (1) uncertainty as to Vermillion’s ability to protect and promote its proprietary technology; (2) Vermillion’s lack of a lengthy track record successfully developing and commercializing diagnostic products; (3) uncertainty as to whether Vermillion will be able to obtain any required regulatory approval of its future diagnostic products; (4) uncertainty of the size of market for its existing diagnostic tests or future diagnostic products, including the risk that its products will not be competitive with products offered by other companies, or that users will not be entitled to receive adequate reimbursement for its products from third party payors such as private insurance companies and government insurance plans; (5) uncertainty that Vermillion has sufficient cash resources to fully commercialize its tests and continue as a going concern; (6) uncertainty whether the trading in Vermillion’s stock will become significantly less liquid; and (7) other factors that might be described from time to time in Vermillion’s filings with the U.S. Securities and Exchange Commission (SEC). All information in this press release is as of the date of this report, and Vermillion expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Vermillion’s expectations or any change in events, conditions or circumstances on which any such statement is based, unless required by law.

This release should be read in conjunction with the consolidated financial statements and notes thereto included in the company’s most recent reports on Form 10-K and Form 10-Q. Copies are available through the SEC’s Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov.

Media Contact:
Dan Quinn
Feinstein Kean Healthcare
617-761-6732
dan.quinn@fkhealth.com

Investor Contact:
Ron Both
Liolios Group, Inc.
949-574-3860
vrml@liolios.com

(TEVA) and Alexza Announce Teva’s License to Market ADASUVE® in the U.S.

Adasuve® (loxapine) inhalation powder is approved in the U.S. for the acute treatment of agitation associated with schizophrenia and bipolar disorder

NORTH WALES, Pa. and MOUNTAIN VIEW, Calif., May 8, 2013 /PRNewswire/ — Teva Pharmaceuticals USA, Inc., a subsidiary of Teva Pharmaceutical Industries Ltd (NYSE: TEVA), and Alexza Pharmaceuticals, Inc. (NASDAQ: ALXA) announced today that the companies have entered into an exclusive U.S. license and supply agreement for ADASUVE (loxapine) inhalation powder 10 mg for the acute treatment of agitation associated with schizophrenia or bipolar I disorder in adults.  Teva will be responsible for all U.S. commercial and clinical activities for ADASUVE, including U.S. post-approval clinical studies, and has gained rights to conduct additional clinical trials of ADASUVE for potential new indications in neurological disorders.  Alexza will be responsible for manufacturing and supplying ADASUVE to Teva for commercial sales and clinical trials.

“Approximately 4 to 5 million patients with bipolar I disorder or schizophrenia in the U.S. experience and seek treatment for agitation episodes,” stated Larry Downey, President, North America Specialty Medicines.  “This agreement reflects our business development strategy to pursue opportunities in our core therapeutic areas where we can apply our expertise and experience to enhance treatment options for patients.  ADASUVE is a compelling addition to our U.S. Specialty Medicines portfolio, and we look forward to working with Alexza as we commercialize this important treatment option.”

“Teva brings an established commercial presence in hospital and psychiatric markets.  ADASUVE is approved to address agitation episodes in the hospital-setting, providing a fast-acting, non-coercive treatment option to patients with schizophrenia and bipolar I disorder,” said Thomas B. King, Alexza President and CEO.  “Teva has considerable strength and market presence with the Teva Select Brands group, and we are confident of their ability to deliver commercial success for this important new product.”

Under the terms of the license and supply agreement, Alexza will receive an upfront cash payment of $40 million and is eligible to receive up to $195 million in additional milestone payments, based upon successful completion of the ADASUVE post-approval studies in the U.S. and achieving net sales targets.  In addition, Teva will make tiered, royalty payments based on net commercial sales of ADASUVE.

Teva also will make available up to $25 million to Alexza via a five-year convertible note and agreement to lend, which Alexza may access to support its ADASUVE activities.  Alexza may prepay up to 50 percent of the outstanding amount at any time prior to maturity.  Teva may convert, at maturity, all or a portion of the then outstanding amount under the note into equity of Alexza.

About Teva
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) is a leading global pharmaceutical company, committed to increasing access to high-quality healthcare by developing, producing and marketing affordable generic drugs as well as innovative and specialty pharmaceuticals and active pharmaceutical ingredients.  Headquartered in Israel, Teva is the world’s leading generic drug maker, with a global product portfolio of more than 1,000 molecules and a direct presence in about 60 countries.  Teva’s branded businesses focus on CNS, oncology, pain, respiratory and women’s health therapeutic areas as well as biologics.  Teva currently employs approximately 46,000 people around the world and reached $20.3 billion in net revenues in 2012.

About Alexza Pharmaceuticals, Inc.
Alexza Pharmaceuticals is focused on the research, development and commercialization of novel, proprietary products for the acute treatment of central nervous system conditions, including agitation, acute repetitive seizures and insomnia.  Alexza’s products are based on the Staccato^® system, a hand-held inhaler that is designed to deliver a drug aerosol to the deep lung, providing rapid systemic delivery and therapeutic onset, in a simple, non-invasive manner.

ADASUVE (Staccato loxapine), Alexza’s first approved product, was approved by the U.S. Food and Drug Administration in December 2012 and by the European Medicines Agency in February 2013.  Teva Pharmaceutical USA Inc. is Alexza’s commercial partner for ADASUVE in the U.S.  Grupo Ferrer Internacional, S.A. is Alexza’s commercial partner for ADASUVE in Europe, Latin America, Russia and the Commonwealth of Independent States countries.

For more information about Alexza, the Staccato system technology or the Company’s development programs, please visit www.alexza.com.  For more information about ADASUVE, please visit www.adasuve.com.

ADASUVE^® and Staccato^® are registered trademarks of Alexza Pharmaceuticals, Inc.

ADASUVE Partial Prescribing Information (U.S.)
Please click here for Full Prescribing Information, including Boxed WARNINGS.

INDICATIONS AND USAGE

ADASUVE is a typical antipsychotic indicated for the acute treatment of agitation associated with schizophrenia or bipolar I disorder in adults.  Efficacy was demonstrated in 2 trials in acute agitation: one in schizophrenia and one in bipolar I disorder.
Limitations of Use: ADASUVE must be administered only in an enrolled healthcare facility.

IMPORTANT SAFETY INFORMATION

WARNING: BRONCHOSPASM and INCREASED MORTALITY IN ELDERLY PATIENTS WITH DEMENTIA-RELATED PSYCHOSIS.

Bronchospasm:

• ADASUVE can cause bronchospasm that has the potential to lead to respiratory distress and respiratory arrest
• ADASUVE is available only through a restricted program under a Risk Evaluation and Mitigation Strategy (REMS) called the ADASUVE REMS
• Administer ADASUVE only in an enrolled healthcare facility that has immediate access on-site to equipment and personnel trained to manage acute bronchospasm, including advanced airway management (intubation and mechanical ventilation)

Increased Mortality in Elderly Patients with Dementia-Related Psychosis:

• Elderly patients with dementia-related psychosis treated with antipsychotic drugs are at an increased risk of death. ADASUVE is not approved for the treatment of patients with dementia-related psychosis

CONTRAINDICATIONS:
ADASUVE is contraindicated in patients with the following:

• Current diagnosis or history of asthma, chronic obstructive pulmonary disease (COPD), or other lung disease associated with bronchospasm
• Acute respiratory signs / symptoms (e.g., wheezing)
• Current use of medications to treat airways disease, such as asthma or COPD
• History of bronchospasm following ADASUVE treatment
• Known hypersensitivity to loxapine and amoxapine

WARNINGS AND PRECAUTIONS:

• Neuroleptic Malignant Syndrome: May develop in patients treated with antipsychotic drugs. Discontinue treatment
• Hypotension and Syncope: Use with caution in patients with known cardiovascular or cerebrovascular disease
• Seizure: Use with caution in patients with a history of seizures or with conditions that lower the seizure threshold
• Potential for Cognitive and Motor Impairment: Use caution when driving or operating machinery
• Cerebrovascular Adverse Reactions: Increased incidence of stroke and transient ischemic attack in elderly patients with dementia-related psychosis treated with antipsychotic drugs

ADVERSE REACTIONS:
The most common adverse reactions (incidence ≥ 2% and greater than placebo) in clinical studies in patients with agitation treated with ADASUVE were dysgeusia, sedation, throat irritation.

Teva’s Safe Harbor Statement under the U. S. Private Securities Litigation Reform Act of 1995:

This release contains forward-looking statements, which express the current beliefs and expectations of management. Such statements are based on management’s current beliefs and expectations and involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our ability to develop and commercialize additional pharmaceutical products, competition for our innovative products, especially Copaxone^® (including competition from innovative orally-administered alternatives, as well as from potential purported generic equivalents), competition for our generic products (including from other pharmaceutical companies and as a result of increased governmental pricing pressures), competition for our specialty pharmaceutical businesses, our ability to achieve expected results through our innovative R&D efforts, the effectiveness of our patents and other protections for innovative products, decreasing opportunities to obtain U.S. market exclusivity for significant new generic products, our ability to identify, consummate and successfully integrate acquisitions, the effects of increased leverage as a result of recent acquisitions, the extent to which any manufacturing or quality control problems damage our reputation for high quality production and require costly remediation, our potential exposure to product liability claims to the extent not covered by insurance, increased government scrutiny in both the U.S. and Europe of our agreements with brand companies, potential liability for sales of generic products prior to a final resolution of outstanding patent litigation, including that relating to the generic version of Protonix^®, our exposure to currency fluctuations and restrictions as well as credit risks, the effects of reforms in healthcare regulation and pharmaceutical pricing and reimbursement, any failures to comply with complex Medicare and Medicaid reporting and payment obligations, governmental investigations into sales and marketing practices (particularly for our specialty pharmaceutical products), uncertainties surrounding the legislative and regulatory pathways for the registration and approval of biotechnology-based products, adverse effects of political or economical instability, corruption, major hostilities or acts of terrorism on our significant worldwide operations, interruptions in our supply chain or problems with our information technology systems that adversely affect our complex manufacturing processes, any failure to retain key personnel or to attract additional executive and managerial talent, the impact of continuing consolidation of our distributors and customers, variations in patent laws that may adversely affect our ability to manufacture our products in the most efficient manner, potentially significant impairments of intangible assets and goodwill, potential increases in tax liabilities, the termination or expiration of governmental programs or tax benefits, environmental risks and other factors that are discussed in our Annual Report on Form 20-F for the year ended December 31, 2012 and in our other filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Alexza’s Safe Harbor Statement

This news release and the planned conference call will contain forward-looking statements that involve significant risks and uncertainties. Any statement describing the Company’s expectations or beliefs is a forward-looking statement, as defined in the Private Securities Litigation Reform Act of 1995, and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of developing and commercializing drugs, including the ability for Teva and Ferrer to effectively and profitably commercialize ADASUVE, and the Company’s ability to raise additional funds and the potential terms of such potential financings. The Company’s forward-looking statements also involve assumptions that, if they prove incorrect, would cause its results to differ materially from those expressed or implied by such forward-looking statements. These and other risks concerning Alexza’s business are described in additional detail in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 and the Company’s other Periodic and Current Reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Plug Power (PLUG) Secures $6.5 Million Strategic Investment From Air Liquide

Investment Is Endorsement of Plug Power’s Hydrogen Fuel Cell Strategy by World Leader in Industrial Gas Products

LATHAM, N.Y., May 8, 2013 (GLOBE NEWSWIRE) — Plug Power Inc. (Nasdaq:PLUG), a leader in providing clean, reliable energy solutions, today announced a $6.5 million (Euro 5 million) strategic investment from its partner Air Liquide, which includes a preferred stock purchase, increased ownership of the companies’ HyPulsion joint venture and an engineering services contract.

The investment is a significant endorsement of Plug Power’s strategy to grow its business of hydrogen fuel cells for forklift trucks and other horizontal markets. The company has seen sales of its GenDrive fuel cells increase by 36 percent in 2012. The products have been successfully deployed at customers such as Walmart, Sysco, P&G, BMW and the recently announced Ace Hardware Corp.

Including this investment, the company has raised $12 million so far in 2013.

“Air Liquide is a respected industry player, which is why this investment is a great validation of Plug Power’s strategy,” said Andy Marsh, Plug Power President and CEO. “The additional funds will be instrumental in providing the liquidity we need for growth. But the endorsement and board expertise we also get is just as important.”

Transaction Details

Air Liquide’s investment in Plug Power includes the following components:

• A $2.6 million (Euro 2 million) investment in convertible preferred stock with a 60% percent conversion premium to market and an 8 percent coupon. As part of this stock purchase, an Air Liquide representative will join Plug Power’s board.  The parties have signed a Securities Purchase Agreement for the investment and the transaction is expected to close no later than May 22^nd.
• Air Liquide also purchased from Plug Power a 25 percent ownership interest in HyPulsion for $3.3 million (Euro 2.5 million). HyPulsion is a joint venture between Axane, an Air Liquide subsidiary, and Plug Power to market hydrogen fuel cells into European markets.  After the investment, Plug Power owns 20 percent of HyPulsion, but has the right to purchase a majority interest in 2018.
• The companies have also signed a $659,000 (Euro 500,000) engineering service contract in order to accelerate the development of the European market for hydrogen forklift with the Europeanization of key components.

Further details relating to the preferred stock investment and related transactions can be found in Plug Power’s Current Report on Form 8-K filed today with the Securities and Exchange Commission.

About Plug Power Inc.

The architects of modern fuel cell technology, Plug Power revolutionized the industry with cost-effective power solutions that increase productivity, lower operating costs and reduce carbon footprints. Long-standing relationships with industry leaders forged the path for Plug Power’s key accounts, including Walmart, Sysco, P&G and Mercedes. With more than 3,000 GenDrive units deployed to material handling customers, accumulating over 8 million hours of runtime, Plug Power manufactures tomorrow’s incumbent power solutions today. Additional information about Plug Power is available at www.plugpower.com.

Safe Harbor Statement

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations that are subject to certain assumptions, risks and uncertainties, any of which are difficult to predict, are beyond our control and that may cause our actual results to differ materially from the expectations in such forward-looking statements, including the risk that we may not have sufficient cash to fund our operations to profitability and that we may be required to seek strategic alternatives, including but not limited to a potential business combination or a sale of the company, or reduce and/or cease our operations, that unit orders will not ship, be installed and/or convert to revenue, in whole or in part; development of our products may take longer and cost more than we expect and we may not be able to raise the necessary capital to fund such development costs; we may not be able to increase the margin on the sale of our products as much as expected or at all ; our actual net cash used for operating expenses may exceed our projected net cash for operating expenses; the fuel and fueling infrastructures for our products may not be available or may cost more than expected; our GenDrive system may not reach wider market acceptance; we may not be able to establish and maintain necessary relationships with third parties for product development, manufacturing, distribution and servicing and the supply of key product components; components and parts for our products may not be available or may cost more than expected; we may be unable to develop commercially viable products; we may be unable to reduce product and manufacturing costs; we may be unable to successfully expand our product lines; we may be unable to improve system reliability for GenDrive; we may suffer price competition and competition from other traditional and alternative energy companies; we may be unable to manufacture products on a large-scale commercial basis; we may be unable to protect our intellectual property; compliance with current and future governmental regulations may be costly; and other risks and uncertainties discussed under “Item IA-Risk Factors” in our annual report on Form 10-K for the fiscal year ended December 31, 2012, filed with the Securities and Exchange Commission (“SEC”) on April 1, 2013 and as amended on April 30, 2013, and the reports we file from time to time with the SEC. We do not intend to, and we undertake no duty to update any forward-looking statements as a result of new information or future events.

CONTACT: For additional information contact:
         David Rodewald / Amber Hack +1 805-494-9508
         The David James Agency | Plug Power
         plugpower@davidjamesagency.com

(TRMD) Interim Report for the First Quarter 2013

In the first quarter of 2013, TORM realized a positive EBITDA of USD 36 million and a loss before tax of USD 16 million. “The seasonally strong first quarter in the product tanker segment was the best we have seen since the beginning of the financial crisis. TORM positioned itself well to take advantage of the market improvements, and we saw the positive effects of TORM’s restructured time charter fleet and the cost program. Cash flow from operations after interest was positive,” says CEO Jacob Meldgaard.

• EBITDA for the first quarter of 2013 was a gain of USD 36 million compared to an EBITDA of USD -7 million in the first quarter of 2012. The first quarter of 2013 had net mark-to-market non-cash adjustments of USD 0 million, compared to a positive impact of USD 11 million in the same period of 2012. The result before tax for the first quarter of 2013 was a loss of USD 16 million, compared to a loss of USD 79 million in the same period of 2012. Cash flow from operating activities after interest was positive with USD 11 million in the first quarter of 2013, compared to USD -57 million in the same period of 2012.
• In the first quarter of 2013, the product tanker freight rates were as expected at seasonally high levels. In addition arbitrage opportunities, the unusually cold weather in North Asia and increased Australian import demand following recent refinery capacity adjustments resulted in the highest quarterly freight rates in four years. The freight rates continued to be volatile.
• The freight rates in all bulk segments started at historically low levels in the seasonally weak January. Later in the first quarter of 2013, freight rates for Panamax and Handymax increased mainly due to the South American grain season and mineral activity from the US Gulf.
• TORM’s cost program has led to a 14% reduction of administration costs to USD 14 million in the first quarter of 2013, compared to USD 17 million in the same period of 2012.
• The book value of the fleet excl. assets held for sale was USD 1,923 million as of 31 March 2013. Based on broker valuations, TORM’s fleet had a market value of USD 1,161 million as of 31 March 2013. In accordance with IFRS, TORM estimates the fleet’s total long-term earning potential each quarter based on discounted future cash flow. The estimated value of the fleet as of 31 March 2013 supports the carrying amount.
• Net interest-bearing debt amounted to USD 1,871 million in the first quarter of 2013, compared to USD 1,868 million as at 31 December 2012.
• As of 31 March 2013, cash totaled USD 17 million and undrawn credit facilities amounted to USD 53 million. TORM has no newbuilding order book and therefore no CAPEX commitments related hereto.
• Equity amounted to USD 255 million as at 31 March 2013, equivalent to USD 0.4 per share (excluding treasury shares), giving TORM an equity ratio of 11%.
• By 31 March 2013, TORM had covered 9% of the remaining tanker earning days in 2013 at USD/day 15,012 and 2% of the earning days in 2014 at USD/day 15,001. 61% of the remaining bulk earning days in 2013 are covered at USD/day 11,711 and 30% of the 2014 earning days at USD/day 17,513.
• For the full year 2013, TORM forecasts a total positive EBITDA of USD 80-110 million and a loss before tax of USD 100-130 million. This includes the write-down of USD 5 million from the sale of five vessels as reported in announcement no. 8 dated 22 April 2013. The forecasts are before any potential further vessel sales and impairment charges. TORM expects to remain in compliance with the financial covenants for 2013. In addition, TORM expects to be operational cash flow positive after interest payment. The uncertainties and sensitivities about freight rates and asset prices may have an effect on the Company’s compliance with the financial covenants. As 17,924 earning days for 2013 are unfixed as at 31 March 2013, a change in freight rates of USD/day 1,000 will impact the profit before tax by USD 18 million

Safe Harbor statements as to the future

Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and statements other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although TORM believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, TORM cannot guarantee that it will achieve or accomplish these expectations, beliefs or projections.

Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward- looking statements include the strength of the world economy and currencies, changes in charter hire rates and vessel values, changes in demand for “tonne miles” of oil carried by oil tankers, the effect of changes in OPEC’s petroleum production levels and worldwide oil consumption and storage, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled dry-docking, changes in TORM’s operating expenses, including bunker prices, dry-docking and insurance costs, changes in the regulation of shipping operations, including requirements for double hull tankers or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by TORM with the US Securities and Exchange Commission, including the TORM Annual Report on Form 20-F and its reports on Form 6-K. Forward-looking statements are based on management’s current evaluation, and TORM is only under an obligation to update and change the listed expectations to the extent required by law.

(DCIN) at Gabelli & Company’s 5th Annual Movie & Entertainment Conference

Gabelli & Company will host its 5^th Annual Movie & Entertainment Conference on June 11, 2013 in New York City. This research meeting for institutional investors will include presentations and panel discussions with senior management of several leading exhibitors, studios, equipment providers, and advertising companies. In addition, there will be a keynote presentation from John Fithian, President & CEO of National Association of Theatre Owners (NATO). Investors should contact their salesperson for more information or to register.

Gabelli & Company, an institutional research and brokerage firm, is a subsidiary of GAMCO Investors, Inc. (NYSE: GBL).

Sevcon (SEV) Reports Financial Results for Q2 FY13

SOUTHBOROUGH, Mass., May 7, 2013 (GLOBE NEWSWIRE) — Sevcon, Inc. (Nasdaq:SEV) reported financial results for the second quarter of fiscal 2013 ended March 30, 2013.

Second Quarter Fiscal 2013 Results Summary

• Revenues were $8.0 million, down from $10.1 million in the second quarter of fiscal 2012 but indicating a recovery from the $6.6 million recognized in the first quarter of fiscal 2013. This reflects a continuation of product demand fluctuations in most of the Company’s markets that began in the fourth quarter of fiscal 2012. Foreign currency exchange rates were similar to last year and had little effect on reported sales.
• Operating loss was $463,000, including a one-time restructuring charge of $605,000, compared with operating income of $695,000 in the second quarter last year, which included $110,000 in U.K. government grant income. This represents an improvement over the $1.2 million operating loss in the first quarter of fiscal 2013.
• The Company recorded an income tax benefit for the quarter of $638,000.
• Net income was $62,000 or $0.02 per share, compared with net income of $470,000, or $0.14 per diluted share, a year earlier and a net loss of $1.3 million in the first quarter of fiscal 2013.

Six-Month Fiscal 2013 Results Summary

• Revenues were $14.6 million, compared with $18.6 million in the first six months of fiscal 2012. Foreign currency exchange rates were similar to last year and had little effect on reported sales.
• Operating loss was $1,648,000, which included a one-time restructuring charge of $605,000 in the second quarter, compared with operating income of $947,000 in the first six months of last year, which included $110,000 in U.K. government grant income.
• Net loss was $1.24 million, or $(0.37) per share, compared with net income of $754,000, or $0.22 per diluted share, for the first six months of fiscal 2012.

Management Comments

“Conditions in both the off-road and on-road segments of our business continue to be very challenging, and product demand remains well below the levels of a year ago,” said President and CEO Matt Boyle. “However, the pickup in order flow that we began to experience in January continued through the second quarter. Our lead times and visibility have stabilized, and we were encouraged to see some pockets of end-market strength materialize as the quarter progressed.”

“Our highest near-term priority is to return Sevcon to profitability,” Boyle said. “We have taken out costs without, we believe, jeopardizing the long-term growth of the business. We implemented personnel and cost reduction measures in the second quarter designed to rapidly accomplish this goal, based on the assumption of continued soft demand. We expect these measures to result in approximately $2 million of annual savings. Although we incurred a related restructuring charge of $605,000 in the second quarter, the associated cost reductions enabled us to narrow our operating loss.”

“We believe that Sevcon is well-positioned to leverage the underlying strength in global demand for environmentally friendly transportation,” said Boyle. “We are continuing to expand our portfolio of relationships with OEMs and automotive suppliers in Europe, Asia and North America. At the same time, our engineering team is working closely with our customers around the world on solutions for making electric vehicles safer, more convenient and less costly to operate than ever before. Although the near-term demand environment remains less than favorable, we began the third quarter with a stronger backlog than we began the last two quarters and we have both an improved order flow and a lower cost structure. We remain committed to returning the business to growth and profitability, and look forward to reporting continued progress toward this goal in the quarters ahead.”

Second Quarter Fiscal 2013 Conference Call Details

Sevcon has scheduled a conference call to review its results for the second quarter of fiscal 2013 tomorrow, May 8, 2013 at 9:00 a.m. ET. Those who wish to listen to the conference call webcast should visit the Investor Relations section of the company’s website at www.sevcon.com. The live call also can be accessed by dialing (877) 407-5790 or (201) 689-8328 prior to the start of the call. If you are unable to listen to the live call, the webcast will be archived on the company’s website.

About Sevcon, Inc.

Sevcon is a world leader in the design and manufacture of microprocessor based controls for zero emission electric and hybrid vehicles. The controls are used to vary the speed and movement of vehicles, to integrate specialized functions and to optimize the energy consumption of the vehicle’s power source. The Company supplies customers throughout the world from its operations in the USA, the U.K., France and the Asia Pacific region and through an international dealer network. Sevcon’s customers are manufacturers of on and off-road vehicles including cars, trucks, buses, motorcycles, fork lift trucks, aerial lifts, mining vehicles, airport tractors, sweepers and other electrically powered vehicles. For more information visit www.sevcon.com.

Forward-Looking Statements

Statements in this release about Sevcon’s prospects for fiscal 2013 and beyond are forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those we anticipate. In particular: global demand for electric vehicles may not grow as much as we expect; our customers’ products may not be as successful as those of other entrants in the electric vehicle market who are supplied by our competitors; and we are dependent on a few key suppliers and subcontractors for most components, sub-assemblies and finished products, and we may not be able to establish alternative sources of supply in time if supplies are interrupted. Please see the company’s most recent forms 10-K and 10-Q on file with the SEC for further information regarding Sevcon’s risk factors.

CONTACT: David Calusdian
         Sharon Merrill Associates
         1 (617) 542 5300
         SEV@InvestorRelations.com

         Matt Boyle
         President and CEO
         1 (508) 281 5503
         matt.boyle@Sevcon.com

Provitro (PCO) Awarded First-Ever U.S. Patent For Large-Scale Production Of Bamboo Plants

Foundational Intellectual Property Enables Commercial Production of Fast Growing, High Yielding Timber Bamboo

MT. VERNON, Wash., May 7, 2013 /PRNewswire/ — Provitro Biosciences LLC (or “Provitro”), a subsidiary of Pendrell Corporation (NASDAQ: PCO) today received a patent from the United States Patent and Trademark Office covering foundational technologies that enable the rapid, disease-free, and high volume production of bamboo plants for the first time.   The patent issued today reflects more than a decade of innovative research by Provitro in the field of non-genetically modified commercial-scale plant propagation methods.

Provitro was awarded U.S. Patent No. 8435789, “Media, Kits, Systems and Methods for the Micropropagation of Bamboo,” which focuses on methods of propagating bamboo by including certain plant growth regulators in the medias used for initiating bamboo shoots from plant explants and then rapidly multiplying the number of shoots.  This key innovation is the result of years of intensive research and development that for the first time enables the production of numerous, healthy bamboo plants for large-scale field plantings, including for the ornamental and timber bamboo industries.

“The technology developed by Provitro lays the foundation for serving vast global markets with a reliable, economical and environmentally beneficial source of alternative fiber that has previously not been available on a commercial scale,” commented Jackie Heinricher, chief executive officer of Provitro Biosciences.  “This patent reflects years of groundbreaking research efforts by the Provitro team, and underscores the potential we see in this technology.”

In addition to this issued U.S. patent, Provitro Biosciences has a large, active intellectual property portfolio for the worldwide protection of its proprietary technologies.  The company anticipates that this is just the first of many utility and Plant Patents to be issued for it’s unique plant propagation methods and plant germplasms covering a wide variety of useful plant species in addition to bamboo.

ABOUT PROVITRO BIOSCIENCES
Founded as Booshoot in 2004, Provitro has developed a proprietary method to enable lower cost and higher quality commercial-scale plant production. Provitro is a world leader in bamboo propagation technologies. Provitro is producing giant timber bamboo starts, helping develop a sustainable fiber replacement for the pulp, paper, energy, textile and hardwood markets.  The company’s headquarters, research and development laboratories and commercial production facilities are in Mt. Vernon, Washington.  For more information, visit www.provitrobio.com.

ABOUT PROVITRO™ TECHNOLOGY
Provitro™ technology involves propagating plants in a lab on a mass scale, as an alternative to traditional seed or genetically modified plantings.  The technology has the potential to be applied to a wide range of product segments in the forestry, pulp, textile, agriculture and horticultural sectors. Advantages of Provitro™ include:

• A natural and green approach for commercial propagation that is not based on increased pesticide use or genetic modification;
• Reduced risk of disease, pests, and pathogens;
• The ability to produce plants such as bamboo that are difficult to propagate at scale with existing technologies; and
• An opportunity to produce plants with particularly desirable characteristics, including vigor and growth rates that are faster than traditional sources of wood, pulp and fiber.

ABOUT PENDRELL
Pendrell Corporation, through its subsidiaries, is a fully integrated intellectual property (IP) investment, advisory services and asset management firm. Pendrell seeks to invest in or acquire companies or assets that represent unique, foundational intellectual property rights with outstanding growth potential. Pendrell is headquartered in Kirkland, Washington, with offices in Berkeley, Los Angeles and Washington, DC. For more information, visit www.pendrell.com.

Accuray (ARAY) Announces Results for Third Quarter Fiscal 2013

New Order Activity Improves – First Installations of New Models – Guidance Updated

SUNNYVALE, Calif., May 7, 2013 /PRNewswire/ — Accuray Incorporated (Nasdaq: ARAY) today announced financial results for the third quarter of fiscal 2013 that ended March 31, 2013. Non-GAAP results are provided to enhance understanding of Accuray’s ongoing core results of operations.

Recent highlights include an upturn in new orders booked in the third quarter, installation of the first new CyberKnife M6 Series and TomoTherapy H Series systems, and continued improvement in service revenue and gross profit margin.

“I am encouraged by the noticeable improvement in new order volume during the third quarter and the positive reception for our new products,” said Joshua Levine, president and chief executive officer of Accuray. “We are starting to see the early benefits of the actions we have been taking to improve the commercial focus and execution of our business. We look forward to further unlocking the value in our two new product platforms as we continue to focus on optimizing our commercial execution.”

Gross new product orders totaled $53.8 million during the third quarter of fiscal 2013, up from $39.8 million during the second quarter of fiscal 2013. Net new product orders totaled $44.1 million during the third quarter of fiscal 2013, up from $17.9 million during the second quarter of fiscal 2013. Ending product backlog of $297.9 million was 7% higher than $279.0 million at the end of the previous quarter, and $279.6 million at the end of the prior year third quarter.

During the third quarter of fiscal 2013, 7 units were shipped and 16 were installed, increasing Accuray’s worldwide installed base to 693 systems.

For the third quarter of fiscal 2013 Accuray reported total consolidated GAAP revenue of $70.5 million and total non-GAAP revenue of $70.6 million. By comparison, for the third quarter of fiscal 2012, total GAAP revenue was $101.8 million and total non-GAAP revenue was $101.6 million. On a non-GAAP basis product revenue was down by 59 percent from the same quarter of the prior year.

The consolidated GAAP gross margin for the third quarter of fiscal 2013 was 26.5 percent for products and 29.5 percent for services, compared to 45.9 percent for products and 20.7 percent for services for the third quarter of the prior year. The consolidated non-GAAP gross margin for the third quarter of fiscal 2013 was 34.7 percent for products and 29.5 percent for service, compared to 53.5 percent and 16.1 percent, respectively, for the third quarter of the prior year. While we expect the underlying positive trend in our service gross margin to continue, we are likely to experience quarterly fluctuations as in past quarters.

During the second and third quarters of fiscal 2013 operating expenses included $4.0 million and $4.9 million, respectively, of severance and facilities consolidation costs related to our restructuring. Excluding these charges related to our restructuring, ongoing non-GAAP operating expenses totaled $39.8 million in the third quarter compared to $44.2 million in the second quarter which demonstrates significant progress towards our goal of reducing non-GAAP operating expenses to $38 million per quarter during fiscal year 2014 with some expected quarterly fluctuations.

Consolidated GAAP net loss attributable to stockholders for the third quarter of fiscal 2013 was $31.2 million, or $0.42 per share, compared to $14.9 million or $0.21 per share for the third quarter of the prior year. Non-GAAP net loss for the third quarter of fiscal 2013 was $27.6 million or $0.37 per share compared to $9.2 million or $0.13 per share for the third quarter of the prior year.

Accuray’s cash, cash equivalents and restricted cash totaled $184.1 million as of March 31, 2013.

Outlook

Accuray management projects total revenue for fiscal 2013 of $310 million to $318 million on both a GAAP and non-GAAP basis, down from $320 million to $330 million projected after the end of our second quarter ended December 31, 2012.

Additional Information

Additional information including slides of third quarter highlights, which will be discussed during the conference call, is available in the Investor Relations section of the company’s website at www.accuray.com/investors.

Earnings Call Open to Investors  

Accuray will hold a conference call for financial analysts and investors on Tuesday, May 7, 2013 at 2:00 p.m. PST/5:00 p.m. EST. The conference call dial-in numbers are 1-877-415-3183 (USA) or 1-857-244-7326 (International), Conference ID: 72135170.  A live webcast of the call will also be available from the Investor Relations section of the corporate website at www.accuray.com/investors.  In addition, a recording of the call will be available by calling 1-888-286-8010 (USA) or 1-617-801-6888 (International), Conference ID: 49814037, beginning at 5:00 p.m. PST/8:00 p.m. EST on May 7, 2013 and will be available through May 15, 2013. A webcast replay will also be available from the Investor Relations section of the Company’s website at www.accuray.com/investors from approximately 5:00 p.m. PST/8:00 p.m. EST today through Accuray’s release of its results for the fourth quarter of fiscal 2013, ending June 30, 2013.

About Accuray

Accuray Incorporated (Nasdaq: ARAY), is a radiation oncology company that develops, manufactures and sells personalized, innovative treatment solutions that set the standard of care with the aim of helping patients live longer, better lives. The Company’s leading-edge technologies deliver the full range of radiation therapy and radiosurgery treatments. For more information, please visit www.accuray.com.

Safe Harbor Statement

Statements made in this press release that are not statements of historical fact are forward-looking statements and are subject to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release relate, but are not limited, to total revenue, product revenue, service revenue, orders and operating expenses; the effects of the introduction of new CyberKnife and TomoTherapy Systems; commercial execution; the company’s future growth including: order growth, revenue growth and future profitability; and fiscal 2013 revenue guidance . Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations, including but not limited to: the company’s ability to convert backlog to revenue; the success of its worldwide sales and marketing efforts; the success of the introduction of our CyberKnife and TomoTherapy Systems; the extent of market acceptance for the company’s products and services; the company’s ability to manage its expenses; continuing uncertainty in the global economic environment; and other risks detailed from time to time under the heading “Risk Factors” in the company’s report on Form 10-K  filed on September 10,2012 and the company’s reports on Form 10‑Q filed on November 8, 2012 for the first quarter of fiscal 2013, February 6, 2013 for the second quarter of fiscal 2013 and the Form 10-Q to be filed for the third quarter of fiscal 2013 and our other filings with the SEC.

Forward-looking statements speak only as of the date the statements are made and are based on information available to the company at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. The company assumes no obligation to update forward-looking statements to reflect actual performance or results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. Accordingly, investors should not put undue reliance on any forward-looking statements.

Non-GAAP Financial Measures

This press release includes non-GAAP financial measures, as defined in Regulation G promulgated by the Securities and Exchange Commission, with respect to the three and nine months ended March 31, 2013 and 2012. “GAAP” refers to generally accepted accounting principles in the United States.

Accuray closed the acquisition of TomoTherapy on June 10, 2011 and TomoTherapy’s operations since that date are included in Accuray’s consolidated results of operations. Accounting for the impact of this acquisition has resulted in changes to the value of assets and liabilities from the amounts reflected by TomoTherapy prior to the acquisition and the creation of incremental assets and liabilities including intangible assets for developed technology and backlog, and unfavorable lease obligations. These changes have impacted revenues and expenses recorded in Accuray’s consolidated statements of operations since the close of the acquisition. In addition, Accuray has incurred significant expenses as a result of the acquisition, some of which are one-time charges while others were incurred over fiscal 2012 and 2013 for the integration of TomoTherapy.

To reflect the ongoing core results of operations of the Company, including adjusting for the impact of the acquisition of TomoTherapy, the Company has presented its operating results on an adjusted non-GAAP basis as well as in accordance with GAAP for the three and nine months ended March 31, 2013 and 2012. We use the following measures shown in the following tables, which are not calculated in accordance with GAAP. All significant adjustments to reconcile to GAAP primarily relate to the acquisition of TomoTherapy except the adjustment to Other income (expense). The Company believes that the presentation of non-GAAP financial measures provides useful supplementary information to and facilitates additional analysis by investors. The Company uses these non-GAAP financial measures in connection with its own budgeting and financial planning, as well as evaluating management performance for compensation purposes. These non-GAAP financial measures are in addition to, not a substitute for, nor superior to, measures of financial performance prepared in conformity with GAAP.  The supplemental financial data presented in tables from page 6 to page 9 are in thousands except for per share amounts.

(REED)’s Inc. 1st Quarter 2013 Revenues Increase 24%

LOS ANGELES, CA — (Marketwired) — 05/07/13 — Reed’s, Inc. (NYSE MKT: REED), maker of the top-selling sodas in natural food stores nationwide, today announced its revenues for its first quarter ended March 31, 2013, and its earnings release date of May 14, 2013.

Revenues for the first quarter of 2013 increased 24% to over $8 million from $6.5 million in the first quarter of 2012. Chris Reed, Founder and CEO, stated, “This is our fourth year of significant growth. Our revenue goals for this first quarter were exceeded and indicate the strength of our continued growth momentum. This is an exciting year unfolding as we continue to expand revenues with our core brands of Reed’s Ginger Brews and Virgil’s Natural Sodas. Our new Reed’s Culture Club Kombucha line of live probiotic cultured teas continues to roll out and gain acceptance. In addition, we continue to develop significant new private label production opportunities. We anticipate continued strong growth for the rest of 2013.”

The Company will conduct a conference call @ 4:15PM EST on May 14th to discuss its 2013 first quarter results and outlook for the future. To participate in the call, please dial the following number 5 to 10 minutes prior to the scheduled call time (866) 240-5139. International callers should dial (713) 481-0091.

A replay will be available within a few days after the conference call in the investor relations section of the Company’s website at: http://www.reedsinc.com/investor-relations/.

About Reed’s, Inc.
Reed’s, Inc. makes the top-selling natural sodas in the natural foods industry sold in over 13,000 natural food markets and supermarkets nationwide. Its six award-winning non-alcoholic Ginger Brews are unique in the beverage industry, being brewed, not manufactured and using fresh ginger, spices and fruits in a brewing process that predates commercial soft drinks. The Company owns the top-selling root beer line in natural foods, the Virgil’s Root Beer product line, and the top-selling cola line in natural foods, the China Cola product line. In 2012, the Company launched Reed’s Culture Club Kombucha line of organic live beverages. Other product lines include: Reed’s Ginger Candies and Reed’s Ginger Ice Creams. In 2009, Reed’s started producing private label natural beverages for select national chains. Reed’s products are sold through specialty gourmet and natural food stores, mainstream supermarket chains, retail stores and restaurants nationwide, and in Canada, as well as through private label relationships with major supermarket chains.

For more information about Reed’s, please visit the Company’s website at: http://www.reedsinc.com or call 800-99-REEDS.

Follow Reed’s on Twitter at http://twitter.com/reedsgingerbrew

Reed’s Facebook Fan Page at https://www.facebook.com/ReedsGingerBrew

SAFE HARBOR STATEMENT

Some portions of this press release, particularly those describing Reed’s goals and strategies, contain “forward-looking statements.” These forward-looking statements can generally be identified as such because the context of the statement will include words, such as “expects,” “should,” “believes,” “anticipates” or words of similar import. Similarly, statements that describe future plans, objectives or goals are also forward-looking statements. While Reed’s is working to achieve those goals and strategies, actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These risks and uncertainties include difficulty in marketing its products and services, maintaining and protecting brand recognition, the need for significant capital, dependence on third party distributors, dependence on third party brewers, increasing costs of fuel and freight, protection of intellectual property, competition and other factors, any of which could have an adverse effect on the business plans of Reed’s, its reputation in the industry or its expected financial return from operations and results of operations. In light of significant risks and uncertainties inherent in forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by Reed’s that they will achieve such forward-looking statements.

For further details and a discussion of these and other risks and uncertainties, please see our most recent reports on Form 10-KSB and Form 10-Q, as filed with the Securities and Exchange Commission, as they may be amended from time to time. Reed’s undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

VistaGen (VSTA) and Duke University Publish 3D Human Heart Tissue Results

SOUTH SAN FRANCISCO, CA — (Marketwired) — 05/07/13 — VistaGen Therapeutics, Inc. (OTCQB: VSTA), a biotechnology company applying stem cell technology for drug rescue, predictive toxicology and drug metabolism assays, announced that its high-quality, human pluripotent stem cell-derived cardiomyocytes (heart cells) were used by collaboration partner Duke University to grow a revolutionary three-dimensional (3D) human heart muscle. An abstract of the original research article published in Biomaterials, an international journal covering the science and clinical application of biomaterials, can be found online at: http://www.sciencedirect.com/science/article/pii/S0142961213004705.

Researchers at Duke University combined VistaGen’s human stem cell-derived heart cells with innovative tissue engineering and cardiac electrophysiology technologies to grow what is being called a “heart patch,” which mimics the natural functions of native human heart tissue. This heart patch technology is being developed to aid in a better understanding of the biology critical to cardiac tissue engineering, for applications in regenerative cell therapy for heart disease, and as predictive in vitro assays for drug rescue and development.

H. Ralph Snodgrass, PhD, VistaGen’s President and Chief Scientific Officer, stated, “The developed contractile forces and other functional properties of these cardiac tissues are remarkable and are significantly higher than any previous reports. The achievement of successfully growing a human heart muscle from cardiomyocytes derived from human pluripotent stem cells not only expands the scope of our drug rescue capabilities, but also reflects the advanced nature and potential of our collaboration with the skilled biomedical engineers at Duke Medical Center.”

“VistaGen’s human cardiomyocytes produced engineered cardiac tissues that exhibited structural and functional properties superior to those previously reported,” said Dr. Nenad Bursac, Associate Professor in the Departments of Cardiology and Biomedical Engineering at Duke University. “This is the closest man-made approximation of natural human heart muscle to date.”

Achieving this capability represents a significant breakthrough in heart cell-based therapies and in testing new medicines for potential heart toxicity and potential therapeutic benefits impacting heart disease. The following are among several key development points from the study:

• The optimized 3D environment of a cardiac tissue patch yields advanced levels of structural and functional maturation of human cardiomyocytes that produce expected responses to drugs;
• Human cardiomyocyte maturation in an optimized 3D patch environment is enhanced relative to that found in industry standard 2D cultures;
• No genetic modifications were used to produce, purify, or mature cardiomyocytes suggesting potential for future therapeutic applications;
• Cardiac tissue patches generated using VistaGen’s cardiomyocytes exhibited 2.2-180 fold higher contractile force generation compared to previous studies;
• Based on a force per cardiomyocyte metric, cardiac tissue engineering methodology that used VistaGen’s cardiomyocytes exhibited 4-700-fold higher efficiency than previously reported; and
• Cardiac tissue patches generated using VistaGen’s cardiomyocytes exhibited velocities of electrical signal propagation 5-fold higher compared to previous reports in human engineered cardiac tissues.

The original research article also will be published in print in Biomaterials.

About VistaGen Therapeutics

VistaGen is a biotechnology company applying human pluripotent stem cell technology for drug rescue, predictive toxicology and drug metabolism screening. VistaGen’s drug rescue activities combine its human pluripotent stem cell technology platform, Human Clinical Trials in a Test Tube™, with modern medicinal chemistry to generate novel, safer chemical variants (Drug Rescue Variants) of once-promising small molecule drug candidates. These are drug candidates discontinued by pharmaceutical companies, the U.S. National Institutes of Health (NIH) or university laboratories, after substantial investment in discovery and development, due to heart or liver toxicity or metabolism issues. VistaGen uses its pluripotent stem cell technology to generate early indications, or predictions, of how humans will ultimately respond to new drug candidates before they are ever tested in humans, bringing human biology to the front end of the drug development process.

VistaGen’s small molecule prodrug candidate, AV-101, has completed Phase 1 development for treatment of neuropathic pain. Neuropathic pain, a serious and chronic condition causing pain after an injury or disease of the peripheral or central nervous system, affects millions of people worldwide.

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

About Dr. Bursac, Duke University

Dr. Bursac, Associate Professor in the Department of Biomedical Engineering and Faculty of Cardiology at Duke University, is a leader in the field of cardiac tissue engineering and cell-based therapies in which different cells, either alone or in combination with therapeutic molecules or biomaterials, can be transplanted into the human body to restore function of damaged or diseased organs. Dr. Bursac’s research has additional applications in the fields of cardiac electrophysiology and development of microphysiological systems for in vitro toxicology studies and drug screening. Over the last five years, Dr. Bursac’s lab has developed and validated novel bioengineered model systems and experimental tools that are providing a more detailed understanding of normal and abnormal heart and skeletal muscle development and function, the intricate processes of myogenesis and the potential of stem cell-based tissue engineering therapies for the treatment of different heart and skeletal muscle diseases, cardiac infarction and arrhythmias.

Cautionary Statement Regarding Forward-Looking Statements

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

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

Mission Investor Relations
IR Communications
Atlanta, Georgia
www.MissionIR.com
404-941-8975

(AEHR) Announces Follow-On FOX-1, WaferPak Contactor Orders

FREMONT, Calif., May 6, 2013 (GLOBE NEWSWIRE) — Aehr Test Systems (Nasdaq:AEHR), a worldwide supplier of semiconductor test and burn-in equipment, announced today that it has received over $4 million in follow-on orders for multiple FOX-1 Parallel Test Systems and WaferPak contactors from a leading manufacturer of semiconductor memory devices. The orders include 30% down payments to lock in deliveries and a volume pricing agreement.

“We are very pleased to have received these follow-on orders,” said Gayn Erickson, president and chief executive officer at Aehr Test Systems. “The orders indicate to us that our customer is achieving ongoing cost and through-put benefits with the FOX full wafer contact solution.  Further, they emphasize the close relationship that we have with our customer and their continuing commitment to Aehr Test’s products for their wafer sort needs.”

The FOX systems, using Aehr Test WaferPak contactors, allow parallel testing of thousands of die on a wafer with only a single touchdown. Aehr Test’s FOX family of products is focused on high reliability test needs and long-duration full wafer burn-in and test of products such as automotive ICs, memories and devices with embedded memories, including microcontrollers and smart card devices.

About Aehr Test Systems

Headquartered in Fremont, California, Aehr Test Systems is a worldwide provider of test systems for burning-in and testing logic and memory integrated circuits and has an installed base of more than 2,500 systems worldwide. Increased quality and reliability needs of the Automotive and Mobility integrated circuit markets are driving additional test requirements, capacity needs and opportunities for Aehr Test products in package and wafer level test.  Aehr Test has developed and introduced several innovative products, including the ABTS^TM and FOX families of test and burn-in systems and the DiePak® carrier. The ABTS system is used in production and qualification testing of packaged parts for both low-power and high-power logic as well as all common types of memory devices. The FOX system is a full wafer contact test and burn-in system used for burn-in and functional test of complex devices, such as leading-edge memories, digital signal processors, microprocessors, microcontrollers and systems-on-a-chip. The DiePak carrier is a reusable, temporary package that enables IC manufacturers to perform cost-effective final test and burn-in of bare die. For more information, please visit the Company’s website at www.aehr.com.

Safe Harbor Statement

This release contains forward-looking statements that involve risks and uncertainties relating to projections regarding customer demand and acceptance of Aehr Test’s products. Actual results may vary from projected results. These risks and uncertainties include, without limitation, acceptance by customers of the FOX and WaferPak contactor technologies, acceptance by customers of the WaferPak contactors shipped upon receipt of a purchase order and the ability of new products to meet customer needs or perform as described. See Aehr Test’s recent 10-K, 10-Q and other reports from time to time filed with the Securities and Exchange Commission for a more detailed description of the risks facing our business. The Company disclaims any obligation to update information contained in any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

CONTACT: Aehr Test Systems
         Carl Buck
         V.P. Marketing
         (510) 623-9400 x381

         Financial Relations Board
         Marilynn Meek
         Analyst/Investor Contact
         (212) 827-3773

General Finance Corp. (GFN) Series C Cumulative Redeemable Perpetual Preferred Public Offering

PASADENA, Calif., May 6, 2013 (GLOBE NEWSWIRE) — General Finance Corporation (Nasdaq:GFN), the parent company of businesses in the mobile storage, modular space and liquid containment industries (the “Company”), announced today that it commenced an underwritten public offering of an original issuance of Series C Cumulative Redeemable Perpetual Preferred Stock. The Company has applied to list the shares on the NASDAQ Global Select Market.

The Company expects to use the net proceeds of this offering to pay down senior indebtedness and for general corporate purposes, which would include the acquisition of businesses and lease fleet and the redemption of Series A Preferred Stock.

Sterne, Agee & Leach Inc. and D.A. Davidson & Co. are acting as joint book-running managers for the offering. BB&T Capital Markets, a division of BB&T Securities, LLC is acting as the lead manager for the offering. B. Riley & Co., LLC, Maxim Group LLC, and Northland Capital Markets will serve as co-managers for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective and the securities may not be sold in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made solely by means of a written prospectus, copies of which may be obtained when available by contacting:

Sterne, Agee & Leach, Inc.
Attn: Prospectus Department
277 Park Avenue, 24th Floor
New York, NY 10172
Phone: 212-338-4708
Fax: 205-414-6373
Email: syndicate@sterneagee.com

D.A. Davidson & Co.
8 Third Street N.
Great Falls, MT 59401
Telephone: 1-800-332-5915
Email: prospectusrequest@dadco.com

About General Finance Corporation

Headquartered in Pasadena, California, General Finance Corporation (Nasdaq:GFN) (www.generalfinance.com) is the parent company of businesses in the mobile storage, modular space and liquid containment (“portable services”) industries. Management’s expertise in these sectors drives disciplined growth strategies, operational guidance, effective capital allocation and capital markets support for the Company’s subsidiaries. The Company’s principal operating subsidiaries are majority-owned Royal Wolf Holdings Limited (www.royalwolf.com.au), the leading provider of portable storage solutions in the Asia-Pacific regions of Australia and New Zealand, wholly-owned Pac-Van, Inc. (www.pacvan.com), a prominent regional provider of portable storage, office and liquid storage tank containers, mobile offices and modular buildings in North America, and 90%-owned Southern Frac, LLC (www.southernfrac.com), a domestic manufacturer of portable liquid storage tank containers.   Royal Wolf’s shares trade on the Australian Securities Exchange under the symbol RWH.

The General Finance Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11129

Cautionary Statement about Forward-Looking Information

Statements in this press release contain “forward-looking” information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve a number of risks and uncertainties. Those factors include conditions in the financial markets and customary offering closing conditions. Please see General Finance Corporation’s filing with the SEC for certain other factors that may affect forward-looking information.

CONTACT: Investor/Media Contact 

         Larry Clark
         Financial Profiles, Inc.
         310-478-2700 ext. 29

Piacente Group to Provide ECOtality (ECTY) With Strategic Investor Relations Consulting

NEW YORK and SAN FRANCISCO, May 6, 2013 (GLOBE NEWSWIRE) — The Piacente Group (TPG), a full-service investor relations firm with offices in New York, California and Beijing, today announced that ECOtality, Inc. (Nasdaq:ECTY), a leader in clean electric transportation and storage technologies, has retained TPG as its investor relations advisor. TPG will assist ECOtality in implementing strategic investor communications and outreach programs designed to increase the Company’s visibility among the financial community.

“We are delighted to have been selected by ECOtality as their investor relations partner and we look forward to a productive relationship,” said Brandi Piacente, President of TPG. “With a strong history of innovation and strategy to generate recurring, predictable revenues streams through its rapidly growing Blink network, ECOtality is well positioned to expand its business and further its leadership in the nascent EV market. We look forward to helping ECOtality communicate the value proposition of its three core businesses; Blink, Minit Charger and ETEC LABS, while raising the Company’s profile within the investment community.”

“The considerable progress we have made to date has provided an important foundation for our future growth. We have built a sizeable electric vehicle infrastructure that includes an installed network of over 10,000 Blink charging stations and nearly 100 DC Fast Chargers making ECOtality the nation’s largest DC fast charging station network,” said Ravi Brar, CEO of ECOtality, Inc. “We are fulfilling our promise of monetizing our technology by instituting access fees, licensing agreements and advertising programs and now is an ideal time to refine our message and increase our exposure on Wall Street. We believe that TPG will be an excellent partner to support these efforts.”

About The Piacente Group

The Piacente Group (“TPG”), Inc. is a full service investor relations and financial communications consulting firm with offices in New York, California and Beijing. Representing a strong portfolio of U.S.-listed companies, TPG develops and implements strategic programs aimed at broadening investment community sponsorship through best practice execution. Value-driven communications, proactive outreach to Wall Street, targeted media relations and innovative social media methodologies work in concert to market TPG’s clients’ securities before optimal investment audiences.

Please visit The Piacente Group at www.tpg-ir.com, Facebook and LinkedIn.  Follow us on Twitter at http://twitter.com/tpgir.

About ECOtality, Inc.

ECOtality, Inc. (ECTY) is a leader in clean, electric transportation technologies. The company operates three complementary lines of business: Blink, Minit-Charger and eTec Labs. ECOtality offers electric vehicle charging stations under the Blink brand and provides a turnkey network operating system for EV drivers, commercial businesses and utilities. Minit-Charger manufactures and distributes fast-charging systems for material handling and airport ground support vehicles. eTec Labs is a trusted research and testing resource for governments, automotive OEMs and utilities. For more information about ECOtality, please visit www.ecotality.com.

Follow us on Twitter @ECOtality and on LinkedIn, like us on Facebook.

The ECOtality, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13434

Safe Harbor Statement

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.

CONTACT: The Piacente Group, Inc.
         Investor Relations
         Brandi Floberg or Kathy Price
         212-481-2050
         ecotality@tpg-ir.com

ProPhase Labs (PRPH) Reports Financial Results for Q1

DOYLESTOWN, PA — (Marketwired) — 05/06/13 — ProPhase Labs, Inc. (NASDAQ: PRPH) (www.ProPhaseLabs.com) today reported a net sales increase of 25.3% to $7.5 million for the three months ended March 31, 2013 as compared to net sales of $6.0 million for the three months ended March 31, 2012.

The Company realized net income for the three months ended March 31, 2013, of $290,000, or $0.02 per share, compared to a net loss of $688,000, or ($0.05) per share, for the three months ended March 31, 2012. The improved financial results for the three months ended March 31, 2013 as compared to three months ended March 31, 2012 was due principally to increased revenues while the Company maintained comparable operating expenses from period to period.

Ted Karkus, ProPhase Labs’ Chairman and CEO stated, “Much like in 2012, our goal going forward is to introduce new Cold-EEZE® branded products which efficiently leverage our marketing dollars and leverage our strengthening distribution platform. As previously articulated, our next generation of Cold-EEZE® products (which we expect to be on shelves in the fall of 2013) will not be new flavors of lozenges but rather Cold-EEZE® products in new delivery forms that shorten the duration of the common cold as well as provide additional health benefits. As evidenced in our most recent financial results, we continue to make excellent progress toward our long term strategy of increasing the value of the Cold-EEZE Cold Remedy brand and the value of our Company to the benefit of all shareholders.”

About ProPhase Labs

ProPhase Labs is a diversified natural health medical science company. It is a leading marketer of the Cold-EEZE® Cold Remedy brand as well as other cold relief products. Cold-EEZE® zinc gluconate lozenges are clinically proven to significantly reduce the severity and duration of the common cold. Cold-EEZE® customers include leading national retailers, chain food, drug and mass merchandise stores, wholesalers and distributors, as well as independent pharmacies. ProPhase Labs has several wholly owned subsidiaries including a manufacturing unit, which consists of an FDA registered facility to manufacture Cold-EEZE® lozenges and fulfill other contract manufacturing opportunities. ProPhase also owns 50% of Phusion Laboratories, LLC (“Phusion”). Phusion licenses a revolutionary proprietary technology that has the potential to improve the delivery and/or efficacy of many active ingredients or compounds. Phusion will formulate and test products to exploit market opportunities within ProPhase’s robust over-the-counter distribution channels. For more information visit us at www.ProPhaseLabs.com.

Except for the historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties, including the difficulty of the acceptance and demand for our products, the impact of competitive products and pricing, the timely development and launch of new products, and the risk factors listed from time to time in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and any subsequent SEC filings.

                     PROPHASE LABS, INC. & SUBSIDIARIES
                   CONSOLIDATED STATEMENTS OF OPERATIONS
                  (in thousands, except per share amounts)
                                (unaudited)

                                                         Three Months Ended
                                                             March 31,
                                                        -------------------
                                                           2013      2012
                                                        --------- ---------

Net sales                                               $   7,542 $   6,018
Cost of sales                                               2,203     1,678
                                                        --------- ---------
Gross profit                                                5,339     4,340
                                                        --------- ---------

Operating expenses:
  Sales and marketing                                       3,363     3,177
  Administrative                                            1,498     1,492
  Research and development                                    188       361
                                                        --------- ---------
                                                            5,049     5,030
                                                        --------- ---------

Income (loss) from operations                                 290      (690)
Interest and other income                                       -         2
                                                        --------- ---------
Income (loss) before income taxes                             290      (688)
Income tax (benefit)                                            -         -
                                                        --------- ---------
Net Income (loss)                                       $     290 $    (688)
                                                        ========= =========

Basic income (loss) per share:
                                                        --------- ---------
  Net income (loss)                                     $    0.02 $   (0.05)
                                                        ========= =========

Diluted income (loss) per share:
                                                        --------- ---------
  Net income (loss)                                     $    0.02 $   (0.05)
                                                        ========= =========

Weighted average common shares outstanding:
    Basic                                                  15,752    14,796
                                                        ========= =========
    Diluted                                                16,199    14,796
                                                        ========= =========

                    ProPhase Labs, Inc. and Subsidiaries
                  Condensed Consolidated Balance Sheet Data
                               (in thousands)
                                 (unaudited)

                                                March 31,      December 31,
                                                   2013            2012
                                             --------------- ---------------

Cash and cash equivalents                    $         4,536 $           572
Accounts receivable                          $         3,080 $         5,409
Inventory                                    $         2,147 $         2,051
Total current assets                         $        10,251 $        10,719
Total assets                                 $        16,139 $        16,661

Total current liabilities                    $         3,864 $         4,910
Other long term obligations                  $           300 $           300
Total stockholders' equity                   $        11,975 $        11,451

Press Only Contact
Laura Maxey
5W Public Relations
Tel: (212) 452-6400
lmaxey@5wpr.com

Investor Contact
Ted Karkus
Chairman and CEO
ProPhase Labs, Inc.

USA Truck (USAK) Announces First Quarter Results

VAN BUREN, Ark., May 6, 2013 /PRNewswire/ — USA Truck, Inc. (NASDAQ: USAK) today announced financial and operating results for the quarter ended March 31, 2013.

Financial Results

Base revenue of $104.9 million for the quarter ended March 31, 2013, increased 7.2% from $97.8 million for the same quarter of 2012.  We incurred a net loss of $2.5 million ($0.24 per share) for the quarter ended March 31, 2013, compared to a net loss of $4.9 million ($0.47 per share) for the same quarter of 2012.

Operating Environment

John Simone, President and CEO, offered the following comments:  “Overall Company base revenue improved by 7.2% and operating costs were held to an increase of 3.5%, thus improving operating margin by over 400 basis points.  Our operational execution continues to improve, helping us overcome difficult weather conditions across our operating areas and fewer business days due to leap year and an early Easter.  We are pleased with our progress, and our top priority is returning to profitability as quickly as possible and restoring shareholder value.

Asset-Based Trucking Operations

“Our Trucking segment led the way with a 50.0% improvement in operating results on revenue growth of 5.1% while expenses grew at 1.0%, yielding a 550 basis point improvement.

“The yield management initiatives we began implementing during 2012 are gradually improving our freight network.  Our loaded length-of-haul increased by 11.8%, and our rate per total mile simultaneously improved by 2.7%.  Operationally, we executed better, improving miles per seated truck per week by 2.7%, as we continue to focus on asset productivity.

“Most costs associated with our Trucking segment were lower due to a variety of cost control initiatives, including efforts to reduce driver turnover which improved by 22.6 percentage points year-over-year.  We believe significant opportunities exist to remove costs from our operations.  Those opportunities are in the areas of equipment operating costs, fuel consumption and safety (in fact, most of the year-over-year increase in insurance and claims dollars was the result of a single claim occurring on the final working day of the quarter).  We are conducting a broad assessment of our processes in those three areas, among others, and are designing and deploying initiatives that we believe will unlock the earnings leverage in our Trucking model.

Non-Asset Based Operations

“Our SCS segment produced operating income of $1.3 million, and experienced 22.0% base revenue growth, when compared to the same quarter of the prior year.  However, less favorable conditions in the marketplace, particularly among seasonal spring shippers, led to slightly compressed gross margins (14.1% vs. 14.4%).  Operating margins were further eroded due to an expanded infrastructure to facilitate long-term growth, and we experienced elevated bad debt expense during the quarter.  Intermodal experienced better year-over-year results, but remained immaterial to our overall financial results.

Balance Sheet and Liquidity

“We believe our balance sheet and sources of liquidity remain adequate to support our operating needs for the foreseeable future.  At March 31, 2013, our outstanding debt, less cash, represented 57.5% of our total capitalization, compared to 48.9% at March 31, 2012.  At March 31, 2013, we were in compliance with our five-year $125.0 million revolving credit facility and had approximately $15.2 million of available borrowing capacity (net of the minimum availability we are required to maintain of approximately $18.8 million).  For the three months ended March 31, 2013, we incurred net capital expenditures of approximately $11.0 million.  Our 2013 operating plan anticipates capital expenditures, net of proceeds on sale of assets, of approximately $36.3 million for the remainder of the year.

Conclusion

“Since my arrival at USA Truck in mid-February, I have spent a great deal of time gaining a better understanding of our opportunities, both in the corporate offices and in the field visiting our customers, suppliers and remote Company facilities.  I have been very encouraged by the quality of our Company’s assets, customers and people.  I believe there is a strong foundation and, as this earnings report points out, positive momentum.  We expect to build upon that foundation and momentum by adding greater clarity, focus and execution.  Our strategy: return to profitability and restore shareholder value through operational excellence, profitable revenue growth and cost efficiencies.  We have identified, developed and begun executing high-leverage activities in each of these critical areas.  We look forward to reporting our progress in future communications.”

A conference call and live slide presentation to discuss first quarter earnings will be held on Monday, May 6, 2013, at 10:00 a.m., central time. Individuals desiring to listen to the call may dial in at 1-800-351-6807 (U.S. / Canada) and 1-334-323-7224 (International), access code 541247.  The live slide presentation may be accessed using the following link: https://www.yourcall.com/webecho/GuestLogin.aspx?ConfRef=78215399&Pin=1533

For a period of time following the call, individuals will be able to access the presentation materials and listen to the audio recording of the call at our website, www.usa-truck.com, under the “Presentations” tab of the “Investors” menu.

The following table summarizes the results of operations information of USA Truck, Inc. (“Company”) for the three-month periods indicated:

The following table includes key operating results and statistics for our three operating segments:

Financial information in this press release is preliminary and based upon information available to the Company as of the date of this press release.  As such, this information remains subject to the completion of normal quarter-end closing and interim review procedures which could result in changes, some of which could be material, to the preliminary information provided in this press release.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements generally may be identified by their use of terms or phrases such as “expects,” “estimates,” “anticipates,” “projects,” “believes,” “plans,” “goals,” “intends,” “may,” “will,” “should,” “could,” “potential,” “continue,” “future” and terms or phrases of similar substance.  Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.  Accordingly, actual results may differ from those set forth in the forward-looking statements.  Readers should review and consider the factors that may affect future results and other disclosures by the Company in its press releases, Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. We disclaim any obligation to update or revise any forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking information.  In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this press release might not occur.

All forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by this cautionary statement.

References to the “Company,” “we,” “us,” “our” and words of similar import refer to USA Truck, Inc. and its subsidiary.

USA Truck is a transportation and logistics provider headquartered in Van Buren, Arkansas, with terminals, offices and staging facilities located throughout the United States.  We transport commodities throughout the continental U.S. and into and out of portions of Canada. We also transport general commodities into and out of Mexico by allowing through-trailer service from our terminal in Laredo, Texas.  Our Strategic Capacity Solutions and Intermodal service offerings provide customized transportation solutions using the latest technological tools available and multiple modes of transportation.

This press release and related information will be available to interested parties at our web site, http://www.usa-truck.com under the “News Releases” tab of the “Investors” menu.

Aastrom (ASTM) to Host First Quarter 2013 Investor Call on May 8, 2013

ANN ARBOR, Mich., May 3, 2013 (GLOBE NEWSWIRE) — Aastrom Biosciences, Inc. (Nasdaq:ASTM), the leading developer of patient-specific, expanded multicellular therapies for the treatment of severe, chronic cardiovascular diseases, announces the following webcast:

If you are unable to participate during the live call, the webcast will be available at http://investors.aastrom.com/events.cfm until May 8, 2014. A replay of the call will also be available until 11:59 pm (EDT) on May 12, 2013 by calling (855) 859-2056, or from outside the U.S. at (404) 537-3406. The conference ID is 65210068.

About Aastrom Biosciences

Aastrom Biosciences is the leader in developing patient-specific, expanded multicellular therapies for use in the treatment of patients with severe, chronic cardiovascular diseases. The company’s proprietary cell-processing technology enables the manufacture of ixmyelocel-T, a patient-specific multicellular therapy expanded from a patient’s own bone marrow and delivered directly to damaged tissues. Aastrom has advanced ixmyelocel-T into late-stage clinical development, including a Phase 2b clinical trial in patients with ischemic dilated cardiomyopathy. For more information, please visit Aastrom’s website at www.aastrom.com.

The Aastrom Biosciences, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3663

This document contains forward-looking statements, including, without limitation, statements concerning clinical trial plans and progress, objectives and expectations, clinical activity timing, intended product development, the performance and contribution of certain individuals and expected timing of collecting and analyzing treatment data, all of which involve certain risks and uncertainties. These statements are often, but are not always, made through the use of words or phrases such as “anticipates,” “intends,” “estimates,” “plans,” “expects,” “we believe,” “we intend,” and similar words or phrases, or future or conditional verbs such as “will,” “would,” “should,” “potential,” “could,” “may,” or similar expressions. Actual results may differ significantly from the expectations contained in the forward-looking statements. Among the factors that may result in differences are the inherent uncertainties associated with clinical trial and product development activities, regulatory approval requirements, competitive developments, and the availability of resources and the allocation of resources among different potential uses. These and other significant factors are discussed in greater detail in Aastrom’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. These forward-looking statements reflect management’s current views and Aastrom does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this release except as required by law.

CONTACT: Media contact
         Andrea Coan
         Berry & Company
         acoan@berrypr.com
         (212) 253-8881

         Investor contact
         Chad Rubin
         The Trout Group
         crubin@troutgroup.com
         (646) 378-2947

Genetic Technologies (GENE) Executes Agreement With Nationwide Provider Network

MELBOURNE, AUSTRALIA — (Marketwired) — 05/03/13 — Genetic Technologies Limited (ASX: GTG) (NASDAQ: GENE), is pleased to advise that it has executed an agreement with Three Rivers Provider Network, Inc. of Chula Vista, California, USA.

Three Rivers Provider Network (“TRPN”) claims to be the largest supplemental PPO Network Foundation in the US, providing healthcare benefits to more than 10 million members, at more than 1 million locations nationwide.

The agreement with TRPN is the fifth such credentialing agreement executed between the Company and similar U.S. Preferred Provider Organisations (“PPOs”) and increases the total number of covered lives, for which its BREVAGen™ test could be adjudicated as “in-network,” to more than 23 million.

The impact of this credentialing has been clearly demonstrated in reviewing reimbursement claims for the BREVAGen™ test since its launch. As reported recently by the Company in its March 2013 Quarterly Activities Report, the average reimbursement received in respect of claims that were adjudicated as “in-network,” was more than 25% higher than the amounts received in respect of claims that were adjudicated as “out of network,” with the time taken to collect the funds also being materially shorter.

Importance of credentialing contracts executed with Preferred Provider Organisations
As mentioned, credentialing with PPOs such as TRPN allows for expedited claim adjudication as “in-network.” This provides improved cash flow via faster payment while still obtaining an acceptable level of reimbursement, and also reduces the costs incurred through appealing denials. Once BREVAGen™ sample volumes reach a significant level and Genetic Technologies has gathered any necessary clinical utility data, the Company will approach insurers directly to contract.

A PPO is a managed care organisation of medical doctors, hospitals and other health care providers who has covenanted with an insurer or a third-party administrator to provide health care at reduced rates to the insurer’s or administrator’s clients. Credentialing is a process whereby provider organisations such as physicians, care facilities and ancillary providers (including testing service providers such as GTG’s subsidiary, Phenogen Sciences) contract directly with the PPO. Contracts with PPOs are fundamental to having claims for the BREVAGen™ test adjudicated “in-network.”

Credentialing contracts have now been executed with Three Rivers Provider Network, Prime Health Services, National Preferred Provider Network / PlanCare America / Ohio Preferred Provider Network LLC (NPPN / OPPN), Galaxy Health Network and Fortified Provider Network. The Company is now actively pursuing further agreements with other PPOs in order to further extend access to an increased number of covered lives.

About BREVAGen™
The BREVAGen™ breast cancer risk stratification test is a novel genetic test panel that examines a patient’s DNA to detect the absence or presence of certain common genetic variations (SNPs) associated with an increased risk for developing breast cancer. The test is designed to help physicians assess aggregate breast cancer risk from these genetic markers, plus factors from a standard clinical assessment based on a patient’s family and personal history, thus giving a clearer picture of an individual woman’s risk of developing breast cancer. The BREVAGen™ test may be especially useful for women predisposed to hormone dependant breast cancer, including those who have undergone breast biopsies, as the test will provide information that can help physicians recommend alternative courses of action, such as more vigilant, targeted surveillance or preventive therapy, on a personalized patient-by-patient basis.

About Genetic Technologies Limited
Genetic Technologies was an early pioneer in recognizing important new applications for “non-coding” DNA (Deoxyribonucleic Acid). The Company has since been granted patents in 24 countries around the world, securing intellectual property rights for particular uses of non-coding DNA in genetic analysis and gene mapping across all genes in all species. Its business strategy is the global commercialization of its patents through an active out-licensing program and the global expansion of its oncology and cancer management diagnostics portfolio. Genetic Technologies is an ASX and NASDAQ listed company with operations in the USA and Australia. For more information, please visit www.gtglabs.com.

Safe Harbor Statement
Any statements in this press release that relate to the Company’s expectations are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Since this information may involve risks and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. Additional risks associated with Genetic Technologies’ business can be found in its periodic filings with the SEC.

FOR FURTHER INFORMATION PLEASE CONTACT

Ms. Alison J. Mew
Chief Executive Officer
Genetic Technologies Limited
Phone: +61 3 8412 7000

Laura Forman (USA)
Blueprint Life Science Group
+1 (415) 375 3340, Ext. 103

Manhattan Bridge Capital (LOAN) Reports Q1 Results: 36.2% Increase in Revenue

LONG ISLAND, N.Y., May 3, 2013 (GLOBE NEWSWIRE) — Manhattan Bridge Capital, Inc. (Nasdaq:LOAN)

Total revenues for the three month period ended March 31, 2013 were approximately $534,000 compared to approximately $392,000 for the three month period ended March 31, 2012, an increase of $142,000 or 36.2%. The increase in revenue represents an increase in lending operations. In 2013, approximately $445,000 of our revenue represents interest income on secured, commercial loans that we offer to small businesses compared to approximately $308,000 for the same period in 2012, and approximately $90,000 represents origination fees on such loans compared to approximately $84,000 for the same period in 2012.

Income from operations for the three month period ended March 31, 2013 was approximately $258,000 compared to approximately $181,000 for the three month period ended March 31, 2012, an increase of $77,000 or 42.5%. This increase in income from operations is primarily attributable to an increase in revenue, offset by an increase in interest and amortization of debt service costs resulting from the Company’s use of a line of credit in order to increase its ability to make loans.

Net income for the three month period ended March 31, 2013 was $0.04 per basic and diluted share (based on 4.283 million shares and 4.296 million shares, respectively), or approximately $173,000 versus net income of $0.03 per basic and diluted share (based on 4.324 million shares and 4.332 million shares, respectively) or approximately $115,000 for the three month period ended March 31, 2012, an increase of approximately $58,000.

As of March 31, 2013 total stockholders’ equity was approximately $8,622,000 compared to approximately $8,479,000 as of December 31, 2012, an increase of $143,000.

Assaf Ran, Chairman of the Board and CEO, stated, “The first quarter results represent once again our constant and safe pattern of growth. During that period our line of credit increased to $5,000,000, an increase that will secure further growth.”

Manhattan Bridge Capital, Inc. offers short-term, secured, non-banking loans to real estate investors (also known as hard money) to fund their acquisition and construction of properties located in the New York Metropolitan area. The loans are principally secured by collateral consisting of real estate and, generally, accompanied by personal guarantees from the principals of the businesses. We operate the web site: http://www.manhattanbridgecapital.com.

This report contains forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements are typically identified by the words “believe,” “expect,” “intend,” “estimate” and similar expressions. Those statements appear in a number of places in this report and include statements regarding our intent, belief or current expectations or those of our directors or officers with respect to, among other things, trends affecting our financial conditions and results of operations and our business and growth strategies. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those projected, expressed or implied in the forward-looking statements as a result of various factors (such factors are referred to herein as “Cautionary Statements”), including but not limited to the following: (i) the successful integration of new businesses that we may acquire; (ii) the success of new operations which we have commenced and of our new business strategy; (iii) our limited operating history in our new business; (iv) potential fluctuations in our quarterly operating results; and (v) challenges facing us relating to our growth. The accompanying information contained in this report, including the information set forth under “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, identifies important factors that could cause such differences. These forward-looking statements speak only as of the date of this report, and we caution potential investors not to place undue reliance on such statements. We undertake no obligation to update or revise any forward-looking statements. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the Cautionary Statements.

CONTACT: Assaf Ran, CEO
         Vanessa Kao, CFO
         (516) 444-3400

RADCOM (RDCM) Wins a Multimillion Dollar LTE Deal

TEL AVIV, Israel, May 3, 2013 /PRNewswire/ —

RADCOM Ltd. (NASDAQ: RDCM), a leading service assurance provider, today announced the initial phase of a multi-million dollar, multi-year deal with a Tier 1 Asian operator.

RADCOM’s end-to-end LTE monitoring solution will provide service assurance for one of the largest planned LTE deployments in the world. This is the sixth LTE contract RADCOM has entered recently; thus positioning RADCOM as a leader in the rapidly developing market for LTE monitoring and service assurance solutions.

The ability to provide a real time feed to policy control components in the network using the QiSolve application was a major advantage for RADCOM in this deal, as it allows the service provider to maximize on RAN (Radio Access Network) monetization, as they expand network coverage. RADCOM’s Service Assurance solution for LTE, will monitor the subscribers’ QoE and provide powerful troubleshooting tools to rapidly resolve issues; thereby ensuring smooth running of the network.

“We are proud to announce this major deal. RADCOM’s LTE solution was selected by this major operator after a long comparison process against leading competitors, due to its technological advantages,” said David Ripstein, RADCOM’s President and CEO. “RADCOM’s solution continues to be at the forefront of technology, and provide our customers with innovative solutions.”

About RADCOM

RADCOM develops, manufactures, markets and supports innovative network test and service monitoring solutions for communications service providers and equipment vendors. The Company specializes in next-generation Cellular as well as IMS, Voice, Data and VoIP networks. Its solutions are used in the development and installation of network equipment and in the maintenance and customer-care of operational networks. The Company’s products facilitate fault management, network service performance monitoring and analysis, troubleshooting and pre-mediation. RADCOM’s shares are listed on the NASDAQ Capital Market under the symbol RDCM.

For more information, please visit http://www.RADCOM.com.

Risks Regarding Forward-Looking Statements
Certain statements made herein that use the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties that could cause the actual results, performance or achievements of RADCOM to be materially different from those that may be expressed or implied by such statements, including, among others, changes in general economic and business conditions and specifically, decline in the demand for RADCOM’s products, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on prices resulting from competition. For additional information regarding these and other risks and uncertainties associated with RADCOM’s business, reference is made to RADCOM’s reports filed from time to time with the United States Securities and Exchange Commission. RADCOM does not undertake to revise or update any forward-looking statements for any reason.

Contact:
Eyal Harari
VP Products and Marketing
+972-77-774-5030
eyalh@radcom.com

Newly appointed CEO of Net Element (NETE) Recognized as Top Entrepreneur

Oleg Firer is a Recipient of a 2013 Top Entrepreneurs Award from the South Florida Edition of Business Leader and is Nominated for E&Y’s Florida Entrepreneur of the Year Award

Net Element International (NASDAQ: NETE), a technology-driven group specializing in electronic commerce and mobile payment processing is pleased to announce that its CEO , Oleg Firer, has been nominated for the Ernst & Young 2013 Florida Entrepreneur of the Year Award^®, this is Mr. Firer’s second nomination. Mr. Firer also received a 2013 Top Entrepreneurs Award from the South Florida Edition of Business Leader magazine.

This is the 6^th year Business Leader has recognized the top entrepreneurs of the South through their Top 50 Entrepreneurs Awards. Winners of this award are entrepreneurs that have created innovative, high achieving companies that contribute to their industries and business communities. Events honoring the winners will be held in Atlanta, Nashville, Memphis, Tampa, Jacksonville, Raleigh, Greensboro and Charlotte. The Miami event was held April 24^th, where Mr. Firer was presented his award.

For more than 25 years, the Ernst & Young award has given recognition to men and women who continue to strive, innovate and build enterprises even in the most challenging of environments. Ernst & Young’s Entrepreneur of the Year Award is one of the most prestigious business awards for entrepreneurs. The award recognizes innovative entrepreneurs who have successfully launched new ventures which have contributed to job creation and growth. Additionally, the coveted award celebrates leaders who have demonstrated extraordinary success as evidenced by their innovation, financial performance, and commitment to both their business and their community.

Ernst & Young award nominees and recipients will be honored at a gala on June 13, 2013 in Miami, Florida. More than 500 guests from across the state will attend this celebratory tribute to Florida’s best entrepreneurs.

“Receiving a nomination from Ernst & Young and being selected as a Business Leader Top Entrepreneur are great honors that also give recognition to the very talented team of innovators, executives and regional sales teams I work with who all demonstrate entrepreneurial spirit every day,” said Mr. Firer. Adding, “My most recent venture, Unified Payments, is a provider of transaction processing services and payment-enabling technologies that was recognized by Inc. Magazine as the fastest-growing private company in the U.S. in 2012. It was incubated and grown in Florida, and now as part of Net Element, our opportunities for further expansion are endless.”

About Net Element International (NASDAQ: NETE)

Net Element International (NASDAQ: NETE) is a global technology-driven group specializing in electronic commerce, mobile payments and transactional services. The company owns and operates a global mobile payments and transaction processing provider, TOT Group, as well as several popular content monetization verticals. Together with its subsidiaries, Net Element International enables ecommerce and content-management companies to monetize their assets in ecommerce and mobile commerce environments. Its global development centers and high-level business relationships in the United States, Russia and Commonwealth of Independent States strategically position the company for continued growth. The company has U.S. headquarters in Miami and international headquarters in Moscow. More information is available at www.netelement.com

About Business Leader Magazine

Business Leader Magazine’s South Florida Edition is a monthly publication focused on covering the companies, leaders and business happenings in South Florida. The magazine features profiles of South Florida businesses and business leaders as well as feature stories and expert columns on the trends affecting the South Florida business community. Features, news, and profiles cover topics in the legal, financial, technology, management, marketing, and advertising industries, business services industries and top women in business, business leaders, entrepreneurs, and movers and shakers are highlighted.

About Ernst & Young’s Entrepreneur Of The Year

Ernst & Young’s Entrepreneur Of The Year is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in 50 countries.

Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130502005559/en/

Ballard ElectraGen™ Fuel Cell Systems (BLDP) By CALA Region Telecom Providers

VANCOUVER, May 2, 2013 /CNW/ – Ballard Power Systems (NASDAQ: BLDP)(TSX: BLD) today announced that more than 270 of the Company’s ElectraGen™ fuel cell backup power systems have now been deployed in 16 Caribbean and Latin American (CALA) telecom networks. All of these commercial deployments leverage systems that utilize liquid methanol fuel, a readily available and abundant feedstock in the region.

Larry Stapleton, Ballard Vice President of Sales said, “We have been very pleased with the growing demand for fuel cell-based backup power products originating with telecom service providers in various parts of the globe. And, this CALA Region milestone is another positive indicator of that demand, as customers recognize the reliability and other advantages of our products as compared to lead-acid batteries and diesel generators.”

Ballard has 138 of its ElectraGen™-ME methanol-fuelled systems deployed in the Caribbean – including countries such as Puerto Rico, Jamaica, the Bahamas, St Lucia, Montserrat and Trinidad & Tobago – 114 systems deployed in Mexico as well as 20 systems deployed in Chile, Guatemala and Argentina. In addition, a number of trials are currently underway with other carriers.

In the CALA Region, electric grids are susceptible to power disruptions due to natural disasters and extreme weather conditions. As a result, telecom networks are vulnerable to frequent grid outages, impacting continuity of service to subscribers. This reality is putting a higher focus on the need for extended duration backup power solutions. In these situations, lead-acid batteries and diesel generators are not necessarily a practical or financially attractive means of providing backup power, whereas fuel cell systems can offer a reliable, economic alternative – in addition to being a clean energy solution.

Elevated temperatures throughout the CALA Region and proximity to the ocean also present challenging operational conditions that impact life expectancy of traditional backup power solutions, such as lead-acid batteries and diesel generators. ElectraGen™ fuel cell systems, on the other hand, are built on reliable technology that delivers predictable performance across a wide range of climates – including tropical conditions – while also virtually eliminating emissions and noise, and minimizing maintenance. In addition, fuel cell systems are putting an end to pilferage, a common issue involving diesel fuel and batteries in many areas.

Ballard’s ElectraGen™ methanol-fuelled systems are particularly well suited for ‘extended runtime’ backup power needs. These systems are designed for high reliability, long life and minimal preventive maintenance. They include a fuel reformer that converts HydroPlus™ (a methanol-water liquid fuel mixture) into hydrogen gas to power the fuel cell.

In the Caribbean, 37 of Ballard’s ElectraGen™ methanol-fuelled backup power systems are currently deployed in the Bahamas Telecommunications Company (BTC) network. During the recent difficult circumstances presented by Hurricane Sandy, 21 of these methanol fuel cell systems performed flawlessly, providing critical electricity to the Bahamas mobile telephone network when the storm downed power lines and cut off grid power. Since then, BTC ordered an additional 16 systems for deployment in its network.

Ballard is sponsoring a webinar on the topic of “Hurricane Sandy and Commercially Tested Fuel Cell Backup Power Solutions”, to be held on Wednesday, May 15, 2013 at 2:00 p.m. EDT. The webinar will be hosted by the Canadian Hydrogen and Fuel Cell Association and will feature an informative discussion of commercially tested fuel cell backup power solutions in extreme situations, including a case study of fuel cell system performance during Hurricane Sandy. To register for the webinar, please go to the “Events” section at www.ballard.com and click on the link.

About Ballard Power Systems
Ballard Power Systems (TSX: BLD) (NASDAQ: BLDP) provides clean energy fuel cell products enabling optimized power systems for a range of applications. Products deliver incomparable performance, durability and versatility. To learn more about Ballard, please visit www.ballard.com.

This release contains forward-looking statements concerning market developments for our products and corresponding value propositions for our customers. These forward-looking statements reflect Ballard’s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Ballard’s assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand.

These statements involve risks and uncertainties that may cause Ballard’s actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Ballard’s future performance, please refer to Ballard’s most recent Annual Information Form. Readers should not place undue reliance on Ballard’s forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward looking statements, other than as required under applicable legislation.

Rentech (RTK) Acquires Chip Processor Fulghum Fibres Enters Wood Pellet Industry

Rentech, Inc. (NYSE MKT: RTK) today announced the acquisition of Georgia-based Fulghum Fibres, Inc. (Fulghum Fibres) and the acquisition of two facilities for conversion to the production of wood pellets in Ontario, Canada, along with contracts for the sale and transport of more than four million metric tons of wood pellets over ten years. These steps position Rentech to develop a world class wood processing business for production of high-quality wood chips and pellets. Rentech expects these investments to be funded from cash on hand, expected distributions from Rentech Nitrogen, and investments from a joint venture partner. Rentech will host a conference call today at 7:00 a.m. PDT to review additional details regarding today’s announcements as disclosed in its investor presentation posted on its website.

Fulghum Fibres is expected to have approximately $10 million of operating income and $20 million of EBITDA in calendar year 2013, consistent with its stable financial history. The net purchase price, including assumed debt, is $112 million. The company, founded nearly 25 years ago, has been consistently profitable and maintains a solid reputation as a producer of high quality wood chips and other services to a diversified customer base in the pulp and paper industries in the U.S., South America and Asia. The acquisition provides Rentech with immediate stable cash flow with growth opportunities, and a platform to launch into the growing and complementary global wood pellet industry. The acquisition also brings with it a joint venture with Graanul Invest, a large European producer of pellets, for the development and construction of pellet plants in the U.S. and Canada.

Take-or-pay contracts are in place with two utilities to supply a combined total of 445,000 metric tons of wood pellets annually over ten years. To supply the pellets, Rentech plans to convert two decommissioned wood fibre mills in Eastern Canada into pellet mills that will employ a total of approximately 65 full-time employees and help to create jobs for construction and wood supply from sustainable Crown forests in Ontario. These two facilities are expected to generate $3 million of operating income and $15 million of EBITDA when fully operational, with combined total project cost estimated at $70 million. Rentech has contracted for the handling and transport of the pellets. The two plants would make Rentech the largest producer of industrial wood pellets utilizing fibre from Eastern Canada, a source of supply that is highly desired due to its location and wood quality.

“Today’s announcements launch us into the wood fibre and pellet supply business, with immediate cash flow and significant growth opportunities, and allow us to take advantage of our fibre relationship in the Province of Ontario,” said D. Hunt Ramsbottom, President and Chief Executive Officer of Rentech. “Fulghum Fibres provides immediate and steady EBITDA and nearly 25 years of fibre processing expertise that we can leverage for successful execution in the wood pellet industry.” Mr. Ramsbottom continued, “The wood chip and pellet industries, which qualify for an MLP structure, are growth sectors with long-term contracts that should provide stable margins and attractive returns on project investments. With sustainable fibre supply from Crown forests, Rentech will continue to pursue First Nations partnerships and opportunities for economic development associated with our Ontario projects. With our long-term customer contracts, processing expertise, and logistics in place, Rentech is positioned to execute on our objective to be a leader in the rapidly growing global market for wood pellet production.”

Mr. Ramsbottom added, “We expect these new businesses to have stable cash flows. The pellet facilities are structured around sustainably managed long-term fibre supplies and long-term off-take and logistics contracts. Fulghum Fibres’ chip processing business is primarily a fee-based service. The stability of margins we expect here will reduce our consolidated exposure to agricultural cycles inherent in Rentech Nitrogen’s business. We believe this diversification and pricing stability creates a stronger and more valuable entity at Rentech in the short, medium and long term.”

Fulghum Fibres

Based in Augusta, Georgia, Fulghum Fibres has approximately 420 employees and is a leader in contract fibre processing services. Fulghum Fibres, which was established in 1989, processes approximately 15 million metric tons of wood and bark annually into wood chips and residual fuels at its 32 wood chipping mills, 26 of which are located in the U.S. and 6 of which are located in South America, where Fulghum Fibres provides chipping services and exports wood chips to customers who are primarily in Japan. Fulghum Fibres operates primarily under long-term contracts and services a portfolio of industry-leading customers such as Georgia Pacific, International Paper and Weyerhaeuser.

Revenues are typically based on per-ton processing fees with minimum volume requirements. Fulghum Fibres commands an estimated 70% of the U.S. contract chipping business and approximately 6% of the total U.S. chipping market that includes in-house chipping operations by large pulp and paper companies. In the U.S., the majority of Fulghum Fibres’ wood chip production is destined for products with the highest expected growth in the pulp and paper market, such as containerboard, boxboard, and tissue.

The senior management team of Fulghum Fibres has signed employment agreements, and is expected to remain in place for the foreseeable future. Fulghum Industries, which manufactures wood handling and chipping equipment and has been under common ownership with Fulghum Fibres, is not being acquired, but will continue to supply equipment and expertise to Fulghum Fibres on favorable terms.

Fulghum Fibres Transaction Highlights

Rentech will acquire all of the equity interests of Fulghum Fibres for $60 million, to be paid from cash on hand. Rentech will acquire approximately $10 million of cash, repay $3 million of debt, and assume approximately $59 million of Fulghum Fibres’ debt, for a total net purchase price of $112 million. The acquisition price equates to 5.6 times 2013 forecasted EBITDA for Fulghum Fibres’ business.

Fulghum Fibres is forecasted to have revenues of approximately $95 million, operating income of approximately $10 million and EBITDA of approximately $20 million in calendar year 2013, which are consistent with Fulghum Fibres’ stable historical financial performance. Further explanation of EBITDA, a non-GAAP financial measure, and a reconciliation of Fulghum Fibres’ forecasted EBITDA to operating income have been included below in this news release.

Fulghum Fibres as Platform for Pellet Business

Fulghum Fibres provides Rentech with a stable operating and financial platform with inherent growth opportunities within the sector. The Company intends to use this platform to launch into the complementary, growing wood pellet industry, a natural extension of chip production. Fulghum Fibres brings operating and processing expertise to the front end of the Company’s wood pellet business, as each pellet mill requires wood handling and production of chips. Fulghum Fibres also brings a joint venture with Graanul Invest, a European company that is one of the largest pellet producers in the world, to develop and construct pellet projects in the U.S. and Canada.

Entry into the Wood Pellet Supply Industry

Global demand for wood pellets is projected to triple by 2020, to 50 million metric tons. Rentech has secured the key elements to quickly become an industrial scale supplier of wood pellets from Eastern Canada to the Canadian and European utility markets with:

• Deep experience in wood handling and production of chips with the acquisition of Fulghum Fibres,
• A joint venture for development, construction, and investment in the U.S. and Canada with a major European producer of pellets,
• Two take-or-pay ten-year off-take contracts for combined pellet deliveries averaging 445,000 metric tons annually,
• Two decommissioned facilities in Ontario, Canada for conversion to pellet production,
• Exclusive priority access to the only large scale pellet handling facility in Eastern Canada through a 15-year agreement with Quebec Stevedoring Company Limited (Quebec Stevedoring), which provides deep water access at the Port of Quebec and short shipping distance to European pellet consumers,
• A strategic relationship with Canadian National Railway Company (CN) (TSX: CNR) (NYSE:CNI) for the inland transportation of pellets to the port,
• Job creation, including new employment opportunities for First Nations,
• Sustainably managed fibre supply from Ontario Crown forests, and
• In-house management expertise in forestry and pellet supply.

Contracts to Supply Pellets

Two ten-year take-or-pay contracts are in place for the sale of industrial wood pellets totaling over four million metric tons of production over the life of the contracts.

Drax Power Limited (Drax)

Drax has signed a ten-year off-take contract for the delivery of approximately 400,000 metric tons of pellets annually to be supplied by Rentech’s Wawa and Atikokan facilities (see below), with prices indexed for inflation, fuel and fibre supply costs. The contract establishes a strategic relationship with Drax, which plans to invest approximately U.S. $1 billion through 2017 to transform the largest coal-fired power station in the U.K. into an electricity generator fuelled predominantly by sustainable biomass. With the conversion of three of six generating units from coal to biomass, Drax is expected to demand approximately seven million metric tons of pellets per year by 2017.

Dorothy Thompson, Chief Executive of Drax, said, “We are delighted to have entered into an agreement with Rentech for the supply of sustainable wood pellets. Forming an integral component of our fuel supply arrangements and supporting the diversification of our supplier base, this agreement helps to underpin the transformation of Drax into a predominantly biomass-fuelled generator, providing low carbon, cost effective and reliable renewable power.”

Ontario Power Generation (OPG)

OPG, which is phasing out the use of coal to produce electricity at its power plants, has signed a ten-year off-take contract for the Atikokan project (see below) for the supply of 45,000 metric tons of pellets annually FOB plant gate. The OPG contract is the first long-term pellet supply agreement for a domestic utility in Canada. OPG has the option to expand the contract to 90,000 metric tons annually. Rentech will acquire the OPG contract as part of the acquisition of the Atikokan project.

Conversions of Fibre Mills to Pellet Production

Rentech expects to convert two decommissioned fibre mills in Ontario, Canada with significant existing re-usable infrastructure into pellet mills to fulfill pellet deliveries required under the Drax and OPG contracts.

Wawa Facility

Rentech has exclusive rights to acquire, at a fixed price, a former oriented strand board processing mill from Weyerhaeuser in Wawa, Ontario, which Rentech expects to convert for production of approximately 360,000 metric tons of pellets annually. The full output of pellets from this facility will be sold under a long-term contract to Drax, with the first delivery under the contract scheduled for the fourth quarter of 2014. The facility is expected to consume approximately 710,000 metric tons of certified sustainably managed Crown fibre annually and is anticipated to employ approximately 40 full-time employees.

“I am pleased to see Rentech’s investment in Northern Ontario coming to fruition and bringing critically needed jobs to Wawa and surrounding areas. This project will help to diversify the local economy. I look forward to continuing to work with Rentech in the future,” stated Michael Mantha, Algoma-Manitoulin Member of Provincial Parliament.

Atikokan Facility

Rentech has entered into an agreement to acquire a former particle board processing mill from Atikokan Renewable Fuels in Atikokan, Ontario, located just 18 kilometers from the OPG power station, which is expected to be converted for production of approximately 125,000 metric tons of pellets annually to supply 45,000 metric tons annually under the OPG contract, with the balance to be sold under the Drax contract unless OPG exercises its option on the additional 45,000 metric tons. The first delivery of pellets under the OPG contract is scheduled for the first quarter of 2014. The facility is expected to consume approximately 250,000 metric tons of Crown fibre annually and is anticipated to employ approximately 25 full-time employees. Rentech has formed a partnership with Great North Bio Energy to continue to work with First Nations in the development and operation of the Atikokan project.

Financial Forecast for Wawa and Atikokan Facilities

The facilities are expected to generate revenues and EBITDA beginning in 2014, with a ramp-up to approximately 80% of stabilized EBITDA in 2015 and forecasted stabilized operating income of $3 million and stabilized EBITDA of $15 million in 2016. The total cost to acquire and convert the two mills is estimated to be approximately $70 million and is expected to be funded by cash on hand, expected distributions from Rentech Nitrogen, cash generated by Fulghum Fibres, and anticipated joint venture investments from Graanul Invest.

Contracts for Transport and Handling of Pellets

The transport arrangements secured by Rentech are central to the Company’s strategy to become a prominent manufacturer and exporter of wood pellets in Eastern Canada. The long-term contracts described below establish the costs to transport pellets from the Wawa and Atikokan facilities, and are structured to reduce per-ton expenses as pellet volumes increase through future expansions and/or developments.

Port of Quebec

The Port of Quebec, which is located along the Saint Lawrence Seaway and provides a direct and expedient route from Eastern Canada to Europe, is an inland port suitable for large Panamax vessels that provides important economies of scale. Rentech has entered into a long-term contract with Quebec Stevedoring at the Port of Quebec to provide stevedoring, terminalling and warehousing services. This agreement is designed to support the term and volume commitments of the Drax contract as well as future pellet exports through the Port of Quebec. Quebec Stevedoring will invest an estimated $20 million to build handling equipment and 75,000 metric tons of pellet storage exclusively for Rentech’s use at the port, with the same amount becoming a lease obligation of Rentech. Offering year-round terminal access, the Port of Quebec is expected to become the largest bulk pellet terminal in Eastern Canada as a result of this contract.

CN

Rentech has secured a long-term contract with CN, whose freight railway network spans Canada and mid-America, to transport the wood pellets approximately 1,110 miles from the Wawa facility, and 1,500 miles from the Atikokan facility, to the Port of Quebec. Rentech expects to lease more than 200 covered hopper rail cars from third parties to transport wood pellets to the Port.

CWT Commodities (USA), a leading solutions provider of integrated logistics and supply chain management, is providing market intelligence and logistics advisory services in support of Rentech’s Eastern Canadian wood pellet projects under a long-term strategic relationship with the Company.

Wood for Pellets Sourced from Crown Timber

Rentech intends to utilize Canadian Crown fibre, which is highly desirable due to Ontario’s long-term forest management regime, which supports fibre availability, security of supply, and industry-leading sustainability practices. In addition, mixed hardwood trees in Northern Ontario have chemical properties that allow for the production of top-tier quality pellets.

The Honorable David Orazietti, Minister of Natural Resources, said, “Our government is committed to continuing to improve the competitiveness of Ontario’s forestry industry and are encouraged by early signs of growth and progress in the sector. We look forward to working with Rentech on their proposals, which are expected to achieve economic benefits for northern Ontario and First Nation communities in the Atikokan and Wawa areas.”

Joint Venture for Development, Construction and Project Investment

In connection with the acquisition of Fulghum Fibres, Rentech has entered directly into a joint venture (JV) agreement with Graanul Invest (Graanul), a European company which is one of the largest pellet producers in the world. Graanul has designed, built, and operates, six pellet facilities in Europe, which produce 830,000 tons of pellets annually. The JV is an equal equity partnership between Rentech and Graanul to develop and build wood pellet facilities in the U.S. and Canada. Under the JV, Graanul will provide EPC services to projects developed by the JV. Graanul will also provide marketing services for excess pellets produced by the JV, and allow the JV to acquire pellets from Graanul’s European plants in the event the JV needs to supplement pellet supplies.

Wood Pellet Industry: Forecasted for Growth

According to independent industry reports, the global demand for wood pellets is forecasted to reach 50 million metric tons by 2020, which is nearly three times the current global demand. Wood pellets provide a clean energy source for power generation. Much of the global wood pellet production is consumed in Western Europe by large utilities to reduce reliance on coal, reduce carbon emissions and avoid regulatory penalties. Japan, Korea and China are expected to represent growth opportunities as a result of increasing demand for pellets to be used as fuel for reliable and diversified power generation. The U.S. and Canada are seen as the best export supply markets for wood pellets based on fibre supply availability, logistics capabilities, and distance to market.

Wood Fibre Strategy: Summary of Benefits

Rentech believes its investment in the wood fibre industry will create value for its shareholders because of the following key attributes of the sector, which are consistent with Rentech’s announced criteria for new investments:

• Stability of cash flows,
• Long-term customer, supply, and logistics contracts,
• Diversification of products and markets,
• Targeted returns on capital in the mid-teens and higher,
• Commercially available technologies,
• Global and growing markets,
• Capital requirements to execute on the strategy are within Rentech’s anticipated resources,
• Leverages Rentech’s expertise and resources, and
• Income qualifies for a Master Limited Partnership (MLP) structure.

Sean Ebnet as Business Lead

Sean Ebnet joined Rentech in October 2012 in the role of Senior Vice President of Business Development. Mr. Ebnet is responsible for growing and managing Rentech’s wood fibre business. He began his career with the United States Forest Service before moving into the private sector, where he worked as a consultant to numerous forest products companies, power utilities and government agencies. In 2000, Mr. Ebnet became Executive Director of Alternative Energy Investment Group where he was responsible for the screening, research and development of privately funded renewable power projects. In 2008, he joined Drax, operator of the largest coal-fired power station in the U.K., as Director of New Business and spearheaded the company’s development of the largest biomass co-firing facility in the world. Mr. Ebnet holds a B.S. degree from the University of Washington.

Sustainability Commitment

Rentech’s objective is to increase shareholder value through the development of a world class wood processing business. This objective will be achieved, in part, by adopting best practices of sustainable forest management, and ensuring that the feedstock supplies to the Company’s facilities meet the rigors of independent certification of environmentally sound practices and procedures for the sale and export of wood pellets to Europe.

Conference Call and Investor Presentation

The Company will hold a conference call today at 7:00 a.m. PDT to discuss the transactions. The slide presentation to be used in conjunction with the call will be available on Rentech’s website, www.rentechinc.com, within the Investor Relations portion of the site under the Presentations section. By dialing 1-866-294-4838 or 1-847-944-7303 and entering the pass code 9069023, callers may listen to the live presentation, which will be followed by a question and answer segment. An audio webcast of the call will also be available on the same web page as the presentation. A replay of the audio webcast and teleconference will be available from 9:30 a.m. PDT on May 2, 2013 through 9:30 a.m. PDT on May 12, 2013. A replay of the teleconference will be available by dialing 1-888-843-7419 or 1-630-652-3042 and entering the pass code 9069023.

Disclosure Regarding Non-GAAP Financial Measures

EBITDA is defined as operating income plus depreciation expense. EBITDA is used as a supplemental financial measure by management and by external users of our financial statements, such as investors and commercial banks, to assess:

• the financial performance of a company’s assets without regard to financing methods, capital structure or historical cost basis; and
• a company’s operating performance and return on invested capital compared to those of other publicly traded companies, without regard to financing methods and capital structure.

EBITDA should not be considered an alternative to net income, operating income, net cash provided by operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP. EBITDA may have material limitations as a performance measure because it excludes items that are necessary elements of Rentech’s costs and operations. In addition, EBITDA presented by other companies may not be comparable to Rentech’s presentation, since each company may define these terms differently.

The table below reconciles Fulghum Fibres’ forecasted EBITDA to operating income for the twelve months ending December 31, 2013 (unaudited estimate, stated in millions).

The table below reconciles the estimated stabilized EBITDA to operating income for the Wawa and Atikokan facilities (unaudited estimate, stated in millions).

About Rentech, Inc.

Rentech, Inc. (www.rentechinc.com) owns and operates wood fibre and nitrogen fertilizer businesses. The wood fibre business consists of the provision of chipping services and the manufacture and sale of wood chips, through a wholly-owned subsidiary, Fulghum Fibres, Inc., and the development and operation of wood pellet production facilities. Rentech’s nitrogen fertilizer business consists of the manufacture and sale of nitrogen fertilizer through its publicly-traded subsidiary, Rentech Nitrogen Partners, L.P. Rentech also owns the intellectual property including patents, pilot and demonstration data, and engineering designs for a number of clean energy technologies designed to produce certified synthetic fuels and renewable power when integrated with third-party technologies.

Forward Looking Statements

This press release contains forward-looking statements about matters such as: forecasted EBITDA, operating income, and depreciation; the outlook for the wood fibre business; our ability to consummate the acquisition of the facilities in Wawa and Atikokan, Ontario; successful integration and future performance of acquired assets or businesses; successful design, implementation and execution of growth projects; Rentech’s plans for market share of the wood pellet industry; sale and transport of wood pellets, and plans for sustainability. These statements are based on management’s current expectations and actual results may differ materially as a result of various risks and uncertainties. Other factors that could cause actual results to differ from those reflected in the forward-looking statements are set forth in Rentech’s prior press releases and periodic public filings with the Securities and Exchange Commission, which are available via Rentech’s website at www.rentechinc.com. The forward-looking statements in this press release are made as of the date of this press release and Rentech does not undertake to revise or update these forward-looking statements, except to the extent that it is required to do so under applicable law.

Cardium (CXM) Announces Generx Publication In Molecular Therapy

SAN DIEGO, May 2, 2013 /PRNewswire/ — Cardium Therapeutics (NYSE MKT: CXM) today announced a publication, “Mechanistic, Technical, and Clinical Perspectives in Therapeutic Stimulation of Coronary Collateral Development by Angiogenic Growth Factors”, authored by Gabor M Rubanyi, M.D., Ph.D., Cardium’s Chief Scientific Officer in the April issue of Molecular Therapy.  The publication outlines current scientific knowledge about the mechanistic basis of adaptive coronary collateral growth, the biological processes to be targeted by therapeutic angiogenesis, and the optimization of clinical trial designs, including the selection of appropriate clinical trial endpoints, selection of patients who are likely responders to therapeutic stimulation of collateral development, and potential genetic and molecular markers in patient screening.  The abstract of the publication is now available at   www.nature.com/mt/journal/v21/n4/abs/mt201313a.html (membership required for full viewing).  The Company will mail the full article to interested parties upon request by contacting Cardium at 858-436-1000.

(Logo: http://photos.prnewswire.com/prnh/20051018/CARDIUMLOGO)

“In this recent publication, I have summarized the lessons learned during the past 15 years of pre-clinical and clinical research and development efforts in the field of therapeutic angiogenesis using growth factor proteins and genes. I also described in some detail the specific insights that our team, first at Schering AG (now part of Bayer Healthcare) and now at Cardium, has gained in the course of the development of Generx, one of the most advanced therapeutic angiogenesis product candidates.  These lessons have been invaluable and they have been incorporated into the trial design of the Generx ASPIRE pivotal Phase 3 clinical study now underway at several leading cardiovascular centers in the Russian Federation,” stated Dr. Rubanyi.  Before joining Cardium in March 2006, Dr. Rubanyi was vice president of gene therapy at Berlex Biosciences (a subsidiary of Berlex Laboratories, the U.S. pharmaceutical affiliate of the Schering AG Group, Germany).  He played a leading role in the development of angiogenic gene therapy at Schering/Berlex in association with a strategic partnership with Collateral Therapeutics.  In 2002, Schering AG acquired Collateral Therapeutics, and in 2005, Cardium Therapeutics acquired the technology and product candidates, including Generx, from Schering AG.

About Generx

Generx is an interventional cardiology-focused product candidate that is being developed to offer a one-time, non-surgical option for the treatment of a medical condition termed cardiac microvascular insufficiency (CMI) in patients with myocardial ischemia and symptomatic chronic stable angina pectoris due to coronary artery disease.  Patients with CMI have had an insufficient angiogenic response to their current disease state and may benefit from a biological therapy that enhances cardiac perfusion through the facilitation of collateral vessel formation.  Currently, patient inclusion in the ASPIRE study requires evidence of stress induced reversible myocardial ischemia as measured by SPECT imaging.  The goal of the Company’s Generx product candidate is to improve blood flow to the heart muscle by promoting and enhancing cardiac perfusion through the enlargement of pre-existing collateral arterioles (arteriogenesis) and the formation of new capillary vessels (angiogenesis).  Various catheter-based imaging diagnostics including fractional flow reserve and washout collaterometry could enhance the clinical adoption of this non-surgical therapeutic angiogenesis approach following initial registration.

Cardium’s extensive preclinical and clinical studies have been instrumental in identifying cardiac ischemia as a key facilitator of non-surgical DNA-based angiogenic therapy.  Improved adenovector administration methods combine non-surgical, percutaneous balloon catheter-based delivery to transiently induce ischemia together with the use of nitroglycerin to enhance vector uptake. By increasing cell transfection efficiency and reaching both the peri-ischemic regions and pre-existing collaterals in the heart, this modified approach offers the potential to effectively simulate both angiogenesis and arteriogenesis to bring about improved blood flow.  Cardium’s new delivery techniques are also designed to provide uniform Generx uptake, to reduce response variability and to allow for the potential treatment of patients with a broader range of associated coronary artery disease.

Cardium has modified the primary endpoint of the ASPIRE clinical study from the traditional measure of improvement in treadmill exercise time (ETT) to a more objective efficacy endpoint of reduction in reversible perfusion deficit based on SPECT myocardial perfusion imaging.  Similar to mechanical/surgical cardiac revascularization approaches, the goal of Generx treatment is to improve myocardial perfusion (blood flow).  SPECT myocardial perfusion imaging can be used to quantitatively evaluate Generx’s effectiveness by measuring improved myocardial blood flow under stress, a key prognostic indicator that is associated with the regenerative process of new collateral vessel formation in and around the regions of ischemia.  While walking time during ETT has been a traditional efficacy measure of anti-anginal drugs, it is based on a subjective assessment of chest pain (angina pectoris), does not directly measure improvements in cardiac blood flow, and can be affected by other variables.  Positive results from the prior Phase 2 clinical study (Grines et al., J Am Coll Cardiol 2003; 42:1339-47) showed that Generx improved myocardial blood flow in the ischemic region of the hearts of patients following a single intracoronary infusion as measured by the objective efficacy endpoint of SPECT imaging.  The observed treatment effect for patients receiving Generx was similar in magnitude to that reported in the literature for patients undergoing angioplasty/stent or revascularization procedures with reversible perfusion defects of comparable size at one year following these procedures.

ASPIRE Study

The ASPIRE study is a 100-patient, randomized and controlled multi-center study currently enrolling patients at up to eight leading cardiology centers in the Russian Federation.  The ASPIRE study is designed to further evaluate the safety and effectiveness of Cardium’s Generx DNA-based angiogenic product candidate, which has already been tested in clinical studies involving 650 patients at more than one hundred medical centers in the U.S., Europe and elsewhere.  The efficacy of Generx is being quantitatively assessed using rest and stress SPECT (Single-Photon Emission Computed Tomography) myocardial imaging to measure improvements in microvascular cardiac perfusion following a one-time, non-surgical, catheter-based administration of Generx.  The Cedars-Sinai Medical Center Nuclear Cardiology Core Laboratory in Los Angeles, California, is the central core lab for the study and is responsible for the analysis of SPECT myocardial imaging data electronically transmitted from the Russian medical centers participating in the ASPIRE study.  The Russian Health Authority has assigned Generx the therapeutic drug trade name of Cardionovo^® for marketing and sales in Russia.

An independent long-term prospective study published in Circulation (Meier et al, Circ. 2007; 116:975-983) provided key evidence indicating that men and women with more recruitable collateral circulation have a better chance of surviving a heart attack than patients who have less developed collateral circulation.  This important study quantitatively evaluated coronary collateral blood flow in 845 patients with coronary artery disease during a 10-year follow-up period and showed that long-term cardiac mortality was approximately 66% lower in patients with a well-developed coronary collateral network (p=0.019).  For the first time, this study showed the importance of collateral circulation beyond simply the relief of angina and provided further support of the potential for long term benefits from angiogenic therapy.

About Cardium

Cardium is an asset-based health sciences and regenerative medicine company focused on the acquisition and strategic development of innovative products and businesses with the potential to address significant unmet medical needs and having definable pathways to commercialization, partnering or other economic monetizations. Cardium’s current portfolio includes the Tissue Repair Company, Cardium Biologics, and the Company’s newly-acquired To Go Brands^® nutraceutical business. The Company’s lead commercial product, Excellagen^® topical gel for wound care management, has received FDA clearance for marketing and sale in the United States.  Cardium’s lead clinical development product candidate Generx^® is a DNA-based angiogenic biologic intended for the treatment of patients with myocardial ischemia due to coronary artery disease. To Go Brands^® develops, markets and sells dietary supplements through established regional and national retailers.  In addition, consistent with its capital-efficient business model, Cardium continues to actively evaluate new technologies and business opportunities. News from Cardium is located at www.cardiumthx.com.

Forward-Looking Statements

Except for statements of historical fact, the matters discussed in this press release are forward looking and reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control and may cause actual results to differ materially from expectations. For example, there can be no assurance that results or trends observed in one clinical study or procedure will be reproduced in subsequent studies or in actual use; that imaging endpoints will be accepted as a basis for product approval or that diagnostic information such as fractional flow reserve or collaterometry will lead to enhanced adoption of therapeutic angiogenesis; that new clinical studies will be successful or will lead to approvals or clearances from health regulatory authorities, or that approvals in one jurisdiction will help to support studies or approvals elsewhere; that the company can attract suitable commercialization partners for our products or that we or partners can successfully commercialize them; that our product or product candidates will not be unfavorably compared to competitive products that may be regarded as safer, more effective, easier to use or less expensive or blocked by third party proprietary rights or other means; that the products and product candidates referred to in this report or in our other reports will be successfully commercialized and their use reimbursed, or will enhance our market value; that our To Go Brands business can be successfully integrated and expanded; that new product opportunities or commercialization efforts will be successfully established; that third parties on whom we depend will perform as anticipated; that we can raise sufficient capital from partnering, monetization or other fundraising transactions to maintain our stock exchange listing or adequately fund ongoing operations; or that we will not be adversely affected by these or other risks and uncertainties that could impact our operations, business or other matters, as described in more detail in our filings with the Securities and Exchange Commission. We undertake no obligation to release publicly the results of any revisions to these forward-looking statements to reflect events or circumstances arising after the date hereof.

Copyright 2013 Cardium Therapeutics, Inc.  All rights reserved.
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Cardium Therapeutics^®, Generx^®,Cardionovo^®, Tissue Repair™, Gene Activated Matrix™, Excellagen^®, Excellarate™, MedPodium^®, Linée^®, Alena^®, Cerex^®, D-Sorb™, Neo-Energy^®, Neo-Carb Bloc^®, Neo-Chill^™, and Nutra-Apps^® are trademarks of Cardium Therapeutics, Inc. or Tissue Repair Company.  To Go Brands^® is a trademark of To Go Brands, Inc. 

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