Archive for October, 2013

(DSCO) Announces FDA Approval of SURFAXIN®

Commercial Introduction of SURFAXIN Planned for the Fourth Quarter of 2013

WARRINGTON, Pa., Oct. 4, 2013 — Discovery Laboratories, Inc. (NASDAQ: DSCO), a specialty biotechnology company dedicated to advancing a new standard in respiratory critical care, today announced the U.S. Food and Drug Administration (FDA) has agreed to the Company’s updated product specifications for SURFAXIN® (lucinactant) Intratracheal Suspension which was approved for the prevention of respiratory distress syndrome (RDS) in premature infants at high risk for RDS.  The Company has initiated manufacturing of SURFAXIN for its planned commercial introduction in the fourth quarter of 2013.  SURFAXIN is the first FDA-approved synthetic, peptide-containing surfactant available for the prevention of RDS in premature infants and the only approved alternative to animal-derived surfactants currently used today.

“We are pleased that the FDA has agreed with our updated product specifications and are appreciative of the process that has lead to this decision,” said John G. Cooper, Chief Executive Officer of Discovery Labs. “SURFAXIN represents the first milestone in our goal of transforming the treatment of RDS and is an important medical advancement for the neonatology community and parents of preterm infants who will soon have an effective alternative to animal-derived surfactants for the prevention of RDS.”

ABOUT SURFAXIN
The U.S. Food and Drug Administration (FDA) approved SURFAXIN® (lucinactant) Intratracheal Suspension for the prevention of RDS in premature infants who are at high risk for RDS.  SURFAXIN is the first synthetic, peptide-containing surfactant approved by the FDA and the only alternative to animal derived surfactants.

IMPORTANT SAFETY INFORMATION
SURFAXIN is intended for intratracheal use only.  The administration of exogenous surfactants, including SURFAXIN, can rapidly affect oxygenation and lung compliance.  SURFAXIN should be administered only by clinicians trained and experienced with intubation, ventilator management, and general care of premature infants in a highly supervised clinical setting. Infants receiving SURFAXIN should receive frequent clinical assessments so that oxygen and ventilatory support can be modified to respond to changes in respiratory status.

Most common adverse reactions associated with the use of SURFAXIN are endotracheal tube reflux, pallor, endotracheal tube obstruction, and need for dose interruption.  During SURFAXIN administration, if bradycardia, oxygen desaturation, endotracheal tube reflux, or airway obstruction occurs, administration should be interrupted and the infant’s clinical condition assessed and stabilized.

SURFAXIN is not indicated for use in acute respiratory distress syndrome (ARDS).

For more information about SURFAXIN, please visit www.surfaxin.com.

ABOUT DISCOVERY LABS
Discovery Laboratories, Inc. is a specialty biotechnology company focused on advancing a new standard in respiratory critical care.  Discovery Labs’ novel proprietary KL4 surfactant technology produces a synthetic, peptide-containing surfactant that is structurally similar to pulmonary surfactant.  Discovery Labs is also developing its proprietary drug delivery technologies to enable efficient delivery of aerosolized KL4 surfactant and other inhaled therapies.  Discovery Labs’ strategy is initially focused on neonatology and improving the management of respiratory distress syndrome (RDS) in premature infants.  Discovery Labs believes that its RDS product portfolio has the potential to become the new standard of care for RDS and, over time, significantly expand the current worldwide RDS market.

For more information, please visit the Company’s website at www.Discoverylabs.com.

Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.  Examples of such risks and uncertainties, including those related to Discovery Labs’ plans to manufacture commercial lots of SURFAXIN and the timing of the commercial launch and market acceptance of SURFAXIN, are described in Discovery Labs’ filings with the Securities and Exchange Commission including the most recent reports on Forms 10-K, 10-Q and 8-K, and any amendments thereto.  Any forward-looking statement in this release speaks only as of the date on which it is made.  The Company assumes no obligation to update or revise any forward-looking statements.

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(GALE) to Present at the 12th Annual BIO Investor Forum

PORTLAND, Ore., Oct. 4, 2013  — Galena Biopharma (Nasdaq:GALE), a biopharmaceutical company developing and commercializing innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care, today announced that Mark W. Schwartz, Ph.D., Executive Vice President and Chief Operating Officer will present a corporate update at the 12th Annual BIO Investor Forum. The presentation will take place on Wednesday, October 9, 2013 at 9:00 a.m. PT at The Palace Hotel in San Francisco, CA.

About Galena Biopharma

Galena Biopharma, Inc. (Nasdaq:GALE) is a Portland, Oregon-based biopharmaceutical company developing and commercializing innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care. For more information please visit www.galenabiopharma.com.

CONTACT: Remy Bernarda
         Senior Director, Communications
         (503) 405-8258
         rbernarda@galenabiopharma.com
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(OMER) Unlocks Six Additional Class A Orphan GPCRs and Identifies Small Molecules

Brings Omeros’ Total to 52 Class A Orphans and Opens Way to New Oral Drugs to Treat Diabetes and Osteoporosis

SEATTLE, Oct. 3, 2013 — Omeros Corporation (NASDAQ: OMER) today announced that it has identified compounds that functionally interact with each of six additional orphan G protein-coupled receptors (GPCRs)  that have been linked to a wide range of diseases in the areas of neurologic disorders, cardiovascular disease and oncology. Identification of compounds that functionally interact with orphan GPCRs facilitates the development of drugs that target those receptors. Omeros has now unlocked 52 Class A orphan GPCRs, representing approximately 65 percent of these targets.

The six additional orphan GPCRs unlocked by Omeros are GPR37, GPR37L1, GPR132, GPR174, GPR176 and LGR5. GPR37 has been linked to Parkinson’s disease. GPR37L1, GPR132 and GPR176 are associated with cardiovascular indications, specifically hypertension and cardiac hypertrophy (GPR37L1 and GPR132) and atherosclerosis (GPR176). GPR174 has been linked to melanoma and Grave’s disease, while LGR5 is expressed in cancer stem cells and has been associated with esophageal adenocarcinoma.

In addition, using its proprietary Cellular Redistribution Assay (CRA) technology, which has already successfully “unlocked” 52 Class A orphan GPCRs, Omeros has identified small molecules that interact with two non-orphan Class B GPCRs; the glucagon-like peptide 1 receptor (GLP-1R) and the parathyroid hormone 1 receptor (PTH-1R). Both of these receptors are established drug targets—GLP-1R for diabetes and PTH-1R for osteoporosis. The marketed drugs currently available that target these receptors are all injectable, with 2012 annual sales of GLP-1R agents and PTH-1R agents exceeding $2.0 billion and $1.1 billion, respectively. Omeros’ identification of small molecules targeting GLP-1R and PTH-1R could lead to the development of oral medications for these diseases that provide dosing advantages over the injectable agents on the market. Omeros is in the process of filing broad patent applications around its discoveries, and compound optimization efforts are in progress.

“Using our proprietary technology, we continue to add to the number of druggable Class A orphan GPCRs – now 52 and spanning a broad range of important disorders – that we believe Omeros exclusively controls,” said Gregory A. Demopulos, M.D., chairman and chief executive officer of Omeros. “Our team has now also turned to Class B GPCRs, starting with two receptors that are commercially validated but whose corresponding marketed drugs are only peptides or proteins, requiring daily or weekly injections. By identifying small molecules that functionally interact with these receptors, Omeros is opening the door to new oral treatments for diabetes and bone loss.”

Ongoing GPCR Program
Omeros is screening orphan GPCRs against its small-molecule chemical libraries using its proprietary, high-throughput CRA technology. The CRA detects receptor antagonists, agonists and inverse agonists. Omeros has announced that it has identified and confirmed sets of compounds that interact selectively with 52 orphan receptors linked to metastatic melanoma and lung cancer (GPR19), renal cell carcinoma, ovarian cancer and inflammatory conditions (GPR65/TDAG8), ovarian cancer, prostate cancer, bone diseases and asthma (GPR68/OGR1), hepatocellular carcinoma (GPR80), squamous cell carcinomas, bladder carcinoma, hepatocellular carcinoma and lung cancer (GPR87), ovarian cancer (GPR150), metastatic epithelial cancers, congenital cataracts and birth defects of the brain and spinal cord (GPR161), melanoma and Grave’s disease (GPR174), cancer stem cells and self-renewal and maintenance of adult stem cells (LGR4, LGR5), esophageal adenocarcinoma (LGR5), leukemia (P2Y8/P2RY8), arterial stiffness (GPR25), hypertension and cardiac hypertrophy (GPR37L1), atherosclerosis (GPR132 and GPR176), multiple sclerosis, spinal cord injury, traumatic brain injury (GPR17),anxiety disorders (GPR31), Parkinson’s disease (GPR37), schizophrenia (GPR52, GPR153), autism (GPR63), bipolar disorder (GPR78), anxiety, post-traumatic stress disorder, body weight abnormalities and autoimmune diseases (GPR83), motor control (GPR139), schizophrenia, cognitive impairments and mood disorders (GPR151), cognitive impairments, blood pressure abnormalities and colon cancer (MAS1), pain (MRGE), circadian rhythm irregularities and sleep disorders (OPN4), obesity, cognitive impairments and motor disorders (GPR12), obesity and diabetes (GPR21), obesity-related type-2 diabetes (GPR39), obesity, metabolic disorders, thermoregulation, mood disorder and bipolar disorder (GPR50), appetite control (GPR82, GPR101), metabolic and psychotic disorders (SREB1/GPR27, SREB2/GPR85, SREB3/GPR173), rheumatoid arthritis (CCRL2), rheumatoid arthritis and HIV-mediated enteropathy (GPR15), osteoarthritis (GPR22), acute inflammatory responses (GPR32), humoral immunity (GPR183), regulation of hematopoietic stem cell differentiation (GPR171), long-term wound repair, including the formation of new hair follicles (LGR6). In addition, Omeros has unlocked GPR20, GPR45, GPR135, GPR141, GPR162, GPR182, MRGF and OPN5, which are expressed preferentially in the gastrointestinal tract (GPR20), brain (GPR45, GPR135, GPR162 and OPN5), dorsal root ganglia (MRGF), bone marrow, spleen, skin and lung (GPR141) and throughout the body (GPR182).

About G Protein-Coupled Receptors
GPCRs, which mediate key physiological processes in the body, are one of the most valuable families of drug targets. According to Insight Pharma Reports, GPCR-targeting drugs represent 30 to 40 percent of marketed pharmaceuticals. Examples include Claritin® (allergy), Zantac® (ulcers and reflux), OxyContin® (pain), Lopressor® (high blood pressure), Imitrex® (migraine headache), Reglan® (nausea) and Abilify® (schizophrenia, bipolar disease and depression) as well as all other antihistamines, opioids, alpha and beta blockers, and compounds acting through serotonin and dopamine receptors.

The industry focuses its GPCR drug discovery efforts mostly on non-sensory GPCRs. Of the 363 total non-sensory GPCRs, approximately 240 have known ligands (molecules that bind the receptors) with nearly half of those targeted either by marketed drugs (46 GPCRs) or by drugs in development (about 82 GPCRs). There are approximately 120 GPCRs with no known ligands, which are termed “orphan GPCRs.” Without a known ligand, drug development for a given receptor is extremely difficult.

Omeros uses its proprietary high-throughput CRA to identify small-molecule agonists and antagonists for orphan GPCRs, unlocking them to drug development. Omeros believes that it is the first to possess the capability to unlock orphan GPCRs in high-throughput, and that currently there is no other comparable technology. Unlocking these receptors could lead to the development of drugs that act at these new targets. There is a broad range of indications linked to orphan GPCRs including cardiovascular disease, asthma, diabetes, pain, obesity, Alzheimer’s disease, Parkinson’s disease, multiple sclerosis, schizophrenia, learning and cognitive disorders, autism, osteoporosis, osteoarthritis and several forms of cancer.

About Omeros Corporation
Omeros is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing small-molecule and protein therapeutics targeting inflammation, coagulopathies and disorders of the central nervous system. Derived from its proprietary PharmacoSurgery® platform, the Company’s lead drug product, OMS302 for lens replacement surgery, is currently under review for marketing approval by both the US Food and Drug Administration and the European Medicines Agency with commercial launch planned for 2014. Omeros’ five other clinical programs are focused on schizophrenia, Huntington’s disease and cognitive impairment; addictive and compulsive disorders; complement-related diseases; and preventing problems associated with surgical procedures. Omeros also has a proprietary GPCR platform, which is making available an unprecedented number of new GPCR drug targets and corresponding compounds to the pharmaceutical industry for drug development.

Forward-Looking Statements
This press release contains 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, which are subject to the “safe harbor” created by those sections for such statements. These statements include, but are not limited to, statements regarding the number of orphan GPCRs that Omeros expects to unlock; the potential development of new drugs, including oral medications that provide dosing advantages over injectable agents on the market; the potential indications of the orphan GPCRs unlocked by Omeros; Omeros’ potential patent rights for each unlocked orphan GPCR; its exclusive control over Class A orphan GPCRs; Omeros’ expectations regarding its ability to unlock GPCRs; and the planned commercial launch of OMS302 in 2014. 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 August 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.

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(ASTI) Announces Availability of EnerPlex™ Products on Walmart.com

Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a manufacturer of consumer and off-grid products integrated with flexible thin-film photovoltaic modules (CIGS), announced today the availability of its EnerPlex™ product line via Walmart.com.

Victor Lee, President & CEO of Ascent Solar, said, “The ability for our customers to purchase EnerPlex products from the world’s largest retailer Wal-Mart is a huge advantage for the growth of the EnerPlex brand. The growth of ecommerce as the preferred method of shopping by most American consumers is a trend which EnerPlex is perfectly positioned to take advantage of.”

The full listing of EnerPlex products on Walmart.com can be found here: http://tinyurl.com/ltuo9of

The EnerPlex Product line has quickly changed the paradigm of solar-integrated consumer electronics, providing consumers with lightweight, powerful and extremely durable charging solutions for all their portable electronics. Surfr™, a line of solar and battery integrated phone cases, allows users to charge their phone anywhere and in cases of emergency. Kickr™, a line of portable solar chargers, provides a charging solution for most USB enabled devices providing power almost anywhere and in nearly every situation and is perfect for emergency preparedness. With the addition of the Jumpr™ line of portable batteries, consumers now have a complete, integrated, solar charging and storage solution for life on the go.

About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules with substrate materials that are more flexible, versatile and rugged than traditional solar panels. Ascent Solar modules can be directly integrated into consumer products and off-grid applications, as well as aerospace and building integrated applications. Ascent Solar is headquartered in Thornton, Colorado. For more information, go to www.ascentsolar.com.

Forward-Looking Statements:
Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company’s actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the Securities and Exchange Commission.

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(OINK) Inks Sales Agreements with Eight Hotels and Restaurants in Wuhan City

WUHAN CITY, China, Oct. 3, 2013 — Tianli Agritech, Inc. (NASDAQ:OINK) (“Tianli” or the “Company”), a leading producer of breeder hogs, market hogs and black hogs, headquartered in Wuhan City, China, today announced that its operating subsidiary, Hubei Tianzhili Breeder Hog Co. Ltd. (“Tianzhili”), had signed one-year sales contracts with eight hotels and restaurants in Wuhan City, Hubei Province. Among the eight new customers for the Company’s Tianli-Xiduhei™ black hog meat cuts are three hotels – WuLingNianDai, DongXin, and Citizen and five restaurants – NongJiaXiaoYuan, ChuYuWang, ShuiMoRenJia, CuiZhuYuan, and XiaXingTianXia.

“We are delighted to serve these leading hotels and restaurants with our premium quality black hog meat cuts. Our association with these well-known hotels and restaurants should enhance the reputation of our branded black hog meat. As our distribution network continues to expand at a fast clip, we are increasingly excited about the growth prospects of our black hog program and our retail business. This, combined with the recovery of pork prices in recent months, sets the stage for continuing top-line growth and Tianli’s return to profitability in coming quarters,” said Mrs. Hanying Li, Chairwoman and Chief Executive Officer of Tianli.

About Tianli Agritech, Inc.

Tianli Agritech, Inc. is in the business of breeding, raising and selling breeder and market hogs in China and is developing a retail channel for its pork products including high-value, black hog meat. The Company is focused on growing high quality hogs for sale for breeding and meat purposes. The Company conducts genetic, breeding and nutrition research to steadily improve its production capabilities.

Forward-Looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts.  These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please contact:

Tina Xiao
Weitian Group LLC
Phone: +1-917-609-0333
Email: tina.xiao@weitian-ir.com
Web: http://www.weitian-ir.com

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(GALE) Launches Abstral(R) Sublingual Tablets for the Treatment of Breakthrough Cancer Pain

First Commercial Product for Galena Biopharma Available Nationwide

PORTLAND, Ore., Oct. 3, 2013 — Galena Biopharma (Nasdaq:GALE), a biopharmaceutical company developing and commercializing innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care, today announced the official product launch of Abstral® (fentanyl) Sublingual Tablets in the United States. Abstral is a sublingual (under the tongue) fentanyl tablet indicated for the management of breakthrough pain in patients with cancer, 18 years of age and older, who are already receiving, and who are tolerant to, opioid therapy for their persistent baseline cancer pain. Galena acquired Abstral in March 2013 and since that time has scaled its field commercial team, manufactured the drug for commercial sale, secured broad access and reimbursement support from commercial and federal health insurance entities, implemented a robust patient assistance program, and developed a broad product distribution network. Abstral can be prescribed by healthcare professionals and is available to patients at all retail pharmacies nationwide.

“As an oncology company dedicated to improving patients’ lives, we are thrilled to introduce Abstral as our first commercial product and offer cancer patients relief from their breakthrough pain,” said Mark J. Ahn, President and Chief Executive Officer. “We believe Abstral delivers best in class performance because it is simple to carry, simple to use, and requires no speacial handling or disposal. We have a commercial team of highly dedicated, patient-focused professionals with experience in both pain and oncology who have helped us reach this tremendous milestone for Galena. I look forward to reporting our continued progress later this year.”

Breakthrough cancer pain is defined as a transient exacerbation of pain that occurs either spontaneously, or in relation to a specific predictable or unpredictable trigger, despite relatively stable and adequately controlled background pain. Breakthrough cancer pain occurs in the majority of patients who are already receiving chronic, long-acting opioid pain management and yet have episodes of severe tumor- and treatment-related cancer pain. Breakthrough pain occurs frequently in these patients, particularly as they try to conduct normal daily activities, with a mean number of episodes of 4 per day (range of 1-14 per day) and a median duration of 30 minutes (range of 1-240 minutes). The wide range of time to relief of these severe pain episodes leads to high levels of distress and impaired quality of life experienced by patients.

About Abstral® (fentanyl) Sublingual Tablets

Abstral® (fentanyl) Sublingual Tablets are an important treatment option for inadequately controlled breakthrough cancer pain which impact 40%-80% of cancer patients. Abstral is approved by the U.S. Food and Drug Administration, and is a sublingual (under the tongue) fentanyl tablet indicated only for the management of breakthrough pain in patients with cancer, 18 years of age and older, who are already receiving, and who are tolerant to, opioid therapy for their persistent baseline cancer pain. The innovative Abstral formulation delivers the analgesic power and increased bioavailability of micronized fentanyl in a more convenient sublingual tablet which rapidly dissolves under the tongue in seconds, provides rapid relief of breakthrough pain in minutes, and matches the duration of the entire pain episode.

Important Abstral Safety Information

  • There is a risk of respiratory depression, medication errors, and abuse potential with the use of Abstral. See full prescribing information for important complete black-box warning.
  • Due to the risk of fatal respiratory depression, ABSTRAL is contraindicated in opioid non-tolerant patients and in management of acute or postoperative pain, including headache/migraines.
  • Keep out of reach of children.
  • Use with CYP3A4 inhibitors may cause fatal respiratory depression.
  • When prescribing, do not convert patients on a mcg per mcg basis from any other oral transmucosal fentanyl product to ABSTRAL.
  • When dispensing, do not substitute with any other fentanyl products.
  • Contains fentanyl, a Schedule II controlled substance with abuse liability similar to other opioid analgesics.
  • ABSTRAL is available only through a restricted program called the TIRF (Transmucosal Immediate Release Fentanyl) REMS (Risk Evaluation and Mitigation Strategy) Access program. Outpatients, healthcare professionals who prescribe to outpatients, pharmacies, and distributors are required to enroll in the program.

About Galena Biopharma

Galena Biopharma, Inc. (Nasdaq:GALE) is a Portland, Oregon-based biopharmaceutical company developing and commercializing innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care. For more information visit www.galenabiopharma.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the progress of the commercialization of Abstral® and development of Galena’s product candidates, including patient enrollment in our clinical trials, as well as statements about our expectations for our commercial success, plans and prospects. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those identified under “Risk Factors” in Galena’s Annual Report on Form 10-K for the year ended December 31, 2012 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2013 filed with the SEC. Actual results may differ materially from those contemplated by these forward-looking statements. Galena 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 press release.

CONTACT: Remy Bernarda
         Senior Director, Communications
         (503) 405-8258
         rbernarda@galenabiopharma.com
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(ICH) Signs Letter of Intent to Acquire Investors Capital Holdings

NEW YORK, and LYNNFIELD, Mass., Oct. 2, 2013 — RCS Capital Corporation (“RCAP”) (NYSE: RCAP) and Investors Capital Holdings, Ltd. (“ICH”) (NYSE MKT: ICH) announced today that they have entered into a letter of intent relating to the acquisition by RCAP of ICH.  Following this transaction, ICH and its subsidiaries will become RCAP’s sixth line of business (after the recently announced acquisition of the Hatteras Funds Group) and, through the leadership of Tim Murphy, President and Chief Executive Officer of ICH, and his management team, will continue to operate autonomously under ICH’s respective brands as part of the RCAP family of companies.

Incorporated in 1995, ICH is a financial services holding company that operates primarily through its wholly-owned broker-dealer and registered investment advisor subsidiary, Investors Capital Corporation.  ICH provides independent broker-dealer services and investment advisory services.

With its approximately 550 registered representatives across the United States, ICH is expected to complement and diversify RCAP’s revenue stream from its other lines of business:  an existing wholesale broker-dealer, investment banking and capital markets services, transaction management and transfer agency businesses.  Upon the closing of the ICH acquisition, RCAP expects that it will have deployed the remaining proceeds from its June 2013 initial public offering.

The closing of the transaction will be subject to certain to-be-agreed-upon conditions including SEC and FINRA approval of the proposed change in control and approval of the transaction by the stockholders of ICH.  Any definitive agreement will contain customary representations, warranties and closing conditions.  There can be no assurance, however, that RCAP and ICH will be successful in negotiating a definitive agreement or whether the terms of such definitive agreement will differ substantially from those described herein.

Subject to the satisfaction of these conditions, the transaction is expected to close in the first quarter of 2014.

About RCAP

RCAP is a publicly traded Delaware holding company listed on the New York Stock Exchange formed to operate and grow businesses focused on the retail direct investment industry.  RCAP holds a direct minority economic interest in Realty Capital Securities, LLC, a FINRA-registered wholesale broker-dealer and an investment banking and capital markets business, American National Stock Transfer, LLC, an SEC-registered transfer agent, and RCS Advisory Services, LLC, a transaction management services business. Additional information about RCAP can be found on its website at www.rcscapital.com. RCAP may disseminate information about itself, including the results of its operations and financial information, via social media platforms such as Facebook, LinkedIn and Twitter.

About ICH

Investors Capital Holdings, Ltd. of Lynnfield, Massachusetts is a diversified financial services holding company that operates primarily through Investors Capital Corporation. Our mission is to provide premier, 5-star service and support to our valued registered representatives, including advisory programs, strategic practice management and marketing services, and technology, to help them grow their businesses and exceed their clients’ expectations. Business units include Investors Capital Corporation, ICC Insurance Agency, Inc., and Investors Capital Holdings Securities Corporation. For more information, please call (800) 949-1422 x4814 or visit www.investorscapital.com.

Forward-Looking Statements

Information set forth herein (including information included or incorporated by reference herein) contains “forward-looking statements” (as defined in Section 21E of the Securities Exchange Act of 1934, as amended), which reflect RCAP’s expectations regarding future events. The forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements.

Such forward-looking statements include, but are not limited to, the inability to negotiate or agree on definitive documentation; the ability to obtain requisite approvals for the acquisition, including, among other things, regulatory approval of certain changes in control of the ICH’s FINRA-regulated broker-dealer business; market volatility; unexpected costs or unexpected liabilities that may arise from the potential acquisition, whether or not consummated; the inability to retain key personnel; the deterioration of market conditions; and future regulatory or legislative actions that could adversely affect the parties to the transaction.  Additional factors that may affect future results are contained in RCAP’s filings with the SEC, which are available at the SEC’s website at www.sec.gov. Further, forward-looking statements speak only as of the date they are made, and RCAP undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

Additional Information

Nothing in this release shall constitute a solicitation to buy or an offer to sell any securities. Any offer and sale of securities will only be made pursuant to an effective registration statement. RCAP stockholders and other investors are urged to read the registration statement, including the proxy statement/prospectus to be contained therein, to be filed with the SEC, because it will contain important information about the transactions. A copy of the registration statement and the proxy statement/prospectus, once filed, will be available free of charge at the SEC’s website (www.sec.gov). Copies of the proxy statement/prospectus and the filings with the SEC that will be incorporated by reference in the proxy statement/prospectus also will be obtainable, without charge, by directing a request to RCS Capital Corporation, 405 Park Ave., 15th Floor, New York, New York, Attention: Investor Relations, Telephone: (866) 904-2988.

Participants in Solicitation

The directors and executive officers of RCAP and other persons may be deemed to be participants in the solicitation of proxies in respect of proposals to approve the transaction. Information regarding RCAP’s directors and executive officers and other participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be available in the proxy materials to be filed with the SEC.

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(FONR) Announces Fiscal 2013 Year End Results

MELVILLE, NY–(Oct 2, 2013) – FONAR Corporation (NASDAQ: FONR)

  • Fiscal 2013 net revenues increase 25% over 2012 to $49.1 million
  • Fiscal 2013 net income increases 49% over 2012 to $10.3 million
  •  Diluted Net Income Available to Common Shares for the Fiscal year ending June 30, 2013 was $1.34, which includes a partial reversal of the deferred tax valuation allowance of $2.5 million, or $0.41
  • FONAR records fourteenth straight quarter of positive net income and income from operations
  • FONAR added- to the Russell Microcap Index

FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported its fiscal 2013 results for the year ended June 30, 2013. The Company’s two industry segments are: development, manufacturing and servicing of the UPRIGHT® Multi-Position™ MRI, and management of Stand-Up® MRI (UPRIGHT® MRI) centers. The Company is known as the first Company to invent and manufacture an MRI (Magnetic Resonance) scanner. Leading the list of FONAR’s most recent patented inventions is its technology enabling full weight-bearing MRI imaging for the first time on all the gravity sensitive regions of the human anatomy, e.g. the spine, brain, hip, knee, ankle, foot, shoulder, and pelvis. The FONAR UPRIGHT® Multi-Position™ MRI scanner is the world’s only MRI scanner licensed under FONAR’s multiple UPRIGHT® MRI patents to scan all the patient’s body parts in their normal fully weight-bearing UPRIGHT® position.

About FONAR

FONAR (NASDAQ: FONR), Melville, NY, The Inventor of MR Scanning™, was incorporated in 1978, and is the first, oldest and most experienced MRI company in the industry. FONAR introduced the world’s first commercial MRI in 1980, and went public in 1981. Since its inception, nearly 300 recumbent-OPEN MRIs and 157 UPRIGHT® Multi-Position™ MRI scanners have been installed worldwide. FONAR’s stellar product is the UPRIGHT® MRI (also known as the Stand-Up® MRI), the only whole-body MRI that performs Position™ imaging (pMRI™) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® MRI often sees the patient’s problem that other scanners cannot because they are lie-down and non “weight-bearing” only. The patient-friendly UPRIGHT® MRI has a near-zero claustrophobic rejection rate by patients. As a FONAR customer states, “If the patient is claustrophobic in this scanner, they’ll be claustrophobic in my parking lot.” Approximately 85% of patients are scanned sitting while they watch a 42″ flat screen TV. FONAR is headquartered on Long Island, New York.

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

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

Contact:
Daniel Culver
Director of Communications
E-mail: Email Contact
www.fonar.com

Wednesday, October 2nd, 2013 Uncategorized Comments Off on (FONR) Announces Fiscal 2013 Year End Results

(CRRS) to Expand Professional Services

Corporate Resource Services, Inc. (NASDAQ:CRRS), a diversified technology, staffing, recruiting and consulting services firm, today announced that it is expanding the Professional Services segment of its business.

“Over the past eighteen months, we have been building our accounting and finance staffing and recruiting services practice, spearheaded from our Irvine, California and New York City offices,” said John Messina, Chief Executive Officer of Corporate Resource Services. “Our initial investment has paid off as this business has rapidly achieved gross margins much higher than our traditional business and operating margins that are impressive for a start-up. We have been fortunate to establish high-end relationships with many prominent financial institutions and professional services firms throughout the United States.”

“This is a business unit that we established in 2012, knowing that we had the opportunity to realize higher gross margins on bill rates in excess of $100 per hour,” said Mark S. Levine, Chief Operating Officer of CRS. “We have executed on our plan and built a team of consulting professionals that have past experience with major CPA Firms and large business consulting firms like Cap Gemini and Jefferson Wells. In addition, we have partnered with a large national CPA firm to provide contract staff for their project based solutions. We expect that this relationship alone will generate several million dollars in consulting business with 35%+ gross margins. This is just the tip of the iceberg for CRS in this high-end niche and we are investing in additional resources for our accounting and finance staffing team. We understand this business and are eager to capitalize on the opportunity for diversification of our portfolio of services, increasing our profitability and creating greater shareholder value.”

About Corporate Resource Services, Inc.:

Corporate Resource Services, Inc. provides cloud-based enterprise applications and hosting services to PEO and staffing companies, as well as diversified staffing, recruiting, and consulting services. The Company offers trained employees in the areas of Insurance, Information Technology, Accounting, Legal, Engineering, Science, Healthcare, Life Sciences, Creative Services, Hospitality, Retail, General Business and Light Industrial work. The company’s blended staffing solutions are tailored to our customers’ needs and can include customized employee pre-training and testing, on-site facilities management, vendor management, risk assessment and management, market analyses and productivity/occupational engineering studies.

The Company’s ability to deliver broad-based solutions provides its customers a “one stop shop” to fulfill their staffing needs from professional services and consulting to clerical and light industrial positions. Depending on the size and complexity of an assignment, Corporate Resource Services can create an on-site facility for recruiting, training and administration at the customers’ location. Company recruiters have the latest state of the art recruiting resources available to help customers secure the best candidates in today’s ever-changing marketplace. CRS’s national network of recruiters has staffing experts that get excellent results by focusing within their areas of expertise.

The Company operates 231 staffing and on-site facilities in 42 states and the District of Columbia and it offers its services to a wide variety of clients in many industries, ranging from sole proprietorships to Fortune 1000 companies. To learn more, visit http://www.crsco.com.

This press release contains forward-looking statements, which are subject to risks and uncertainties. Such statements are based on assumptions and expectations which may not be realized and are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ from the results discussed in the forward-looking statements. A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Wednesday, October 2nd, 2013 Uncategorized Comments Off on (CRRS) to Expand Professional Services

(JMSN) Announces Appointment of Corporate Development Executive

LAS VEGAS, NV–(Oct 2, 2013) – Jameson Stanford Resources Corp. (OTCQB: JMSN) (the “Company”), an emerging metals and minerals exploration and development company, announced that it has appointed Michael Christiansen as Executive Vice President, Corporate Development. His responsibilities include capital markets, investor relations and corporate administration. Christiansen previously served as Executive Vice President and Chief Financial Officer with the Company and Bolcàn Mining Corporation prior to the October 2012 merger. Prior to joining the Company, Christiansen was Managing Director at WestPark Capital where he served in the corporate finance group from 2007 to 2012.

Christiansen has more than 15 years of investment banking experience, having served previously with Prudential Securities from 1997 to 2001, and with Seidler Amdec Securities and Laffer Associates from 1986 to 1992. Christiansen also served as executive vice president and chief financial officer of Vizional Technologies, Inc. from 2002 through 2006, and as executive vice president and chief financial officer of PortaCom Wireless, Inc. from 1994 to 1996.

Michael Stanford, CEO of Jameson Stanford, commented, “We are pleased that Michael Christiansen has re-joined our management team, and we look forward to his leadership in securing additional capital necessary to expand the Company’s minerals exploration and discovery program.”

About Jameson Stanford Resources Corp.

Jameson Stanford Resources is focused on developing significant mining claims, mineral leases and excavation rights for projects located in historic mining districts and other sites in central and southwestern Utah. The Company is presently engaged in mineral exploration activities in connection with copper, gold, silver and base metals properties located in historic mining districts in Beaver County and Juab County, Utah. In addition, Jameson Stanford Resources has acquired excavation rights and special permitting related to deposits of alluvial minerals and silica sand located in Weber County, Utah.

Safe Harbor Forward-Looking Statements

In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Jameson Stanford Resources Corporation, is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations concerning the presence of minerals and our ability to mine and process minerals commercially at a profit.

We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Contact:

Jameson Stanford Resources Corp.
Las Vegas, NV
www.JamesonStanford.com
702-933-0808
IR@JamesonStanford.com

Mission Investor Relations
Atlanta, GA
www.MissionIR.com
404-941-8975
Investors@MissionIR.com

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(CLPI) Indian Subsidiary Direct Bill Payment Integration with Indian Utilities Hits 25M Consumers

Calpian, Inc. (OTC: CLPI) CEO Harold Montgomery and Money on Mobile CEO Shashank M Joshi announced today that the Company’s subsidiary, mobile payment subsidiary, Money on Mobile, has completed formal direct bill payment integration arrangements with five Indian utility providers covering a total customer base of over 25 million consumers nationwide. These new integrations allow consumers to pay monthly utility bills using their cell phones through the Money on Mobile network of over 157,000 retail stores. Money on Mobile is the largest mobile payments company in India. Below is the list of new Money on Mobile alliances:

  • Bihar Electricity Bill Payment: Roughly 20 million electricity consumers of North/South Bihar
  • Reliance Energy Bill Payment : 2.8 million Consumers in Mumbai, India
  • BEST Electricity Bill Payment: Roughly 1.0 million consumers in Mumbai
  • Mahanagar Gas Limited: Approximately 700,000 MGL consumers in Mumbai and 1.5 million customers in Thane & Navi Mumbai.
  • Tikona Bill Payment: Roughly 300,000 Mumbai consumers

About Money on Mobile

Money on Mobile is India’s largest mobile payment platform with 157,000 participating retail locations and over 67 million unique users since April, 2012. Money on Mobile is bringing quick, simple and efficient mobile payments to the Indian consumer.

About Calpian, Inc.

Calpian, Inc. (CLPI) is a publicly traded company with corporate offices in Dallas, Texas, operating centers in Georgia, and New York and mobile payments emerging-market operations through its subsidiary in India. Calpian’s Indian subsidiary offers Money-on-Mobile, a pre-paid mobile payment solution, to more than 157,000 Indian retail locations. Calpian’s management team has over 70 years in combined experience in the payments business. Please visit our website at www.calpian.com

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(LXRX) Achieves Positive Results in Type 2 Diabetes Patients with Renal Impairment

THE WOODLANDS, Texas, Oct. 1, 2013 — Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) announced today that LX4211, a first-in-class, dual inhibitor of sodium glucose transporters 1 and 2 (SGLT1 and SGLT2), successfully met the primary endpoint of reducing post-prandial glucose, in a study of patients with type 2 diabetes and moderate to severe renal impairment.  Reducing elevated post-prandial glucose, high blood sugar levels after meals, is a key objective of diabetes therapy.

In a placebo-controlled, proof-of-concept study, LX4211 provided clinically meaningful and statistically significant reductions (p<0.05) in post-prandial glucose in diabetes patients with moderate to severe renal impairment (Stage 3 and 4 kidney disease). Importantly, these effects were maintained in a sub-group with the most advanced renal impairment, pre-defined as those with glomerular filtration rate (GFR) less than 45 ml/min/1.73 m2. LX4211 also produced significant elevations in GLP-1, a hormone involved in control of glucose and appetite.

Renal impairment occurs in approximately 30% of patients with type 2 diabetes and represents a major unmet medical need with limited treatment options.  LX4211’s inhibition of SGLT1 in the gastrointestinal (GI) tract, reducing glucose absorption and triggering GLP-1 secretion, offers the potential for treating this medically challenging population with compromised kidney function.  In previous Phase 2 studies, LX4211 improved glycemic control in patients with type 2 diabetes with normal renal function.

“Our hypothesis was that LX4211 would improve glycemic control even in patients with the greatest degree of renal impairment due to its inhibition of SGLT1 in the GI tract,” said Pablo Lapuerta, M.D., Lexicon’s chief medical officer.  “The post-prandial glucose reductions and GLP-1 elevations observed in this study population support the rationale for demonstrating effective HbA1c reduction in a larger, longer-term Phase 3 trial, and provide further support for the clinical differentiation of LX4211 as a first-in-class dual SGLT1 and SGLT2 inhibitor.”

In this multicenter study, 30 patients with poorly controlled type 2 diabetes and moderate to severe renal impairment were randomized to either placebo or a 400 mg dose of investigational drug LX4211 taken orally once per day before breakfast. Patients’ post-prandial glucose was measured after a standardized meal both at baseline before treatment and after one week of therapy. In addition to achieving the primary efficacy objective of post-prandial glucose reduction, there were no serious adverse events observed in the study and no discontinuations of LX4211 due to adverse events. Lexicon plans to present full results of the study at scientific congresses in 2014.

About Lexicon

Lexicon is a biopharmaceutical company focused on discovering breakthrough treatments for human disease.  Lexicon currently has multiple programs in clinical development for diabetes, irritable bowel syndrome, carcinoid syndrome and other indications, all of which were discovered by Lexicon’s research team.  Lexicon has used its proprietary gene knockout technology to identify more than 100 promising drug targets.  Lexicon has focused drug discovery efforts on these biologically-validated targets to create its extensive pipeline of clinical and preclinical programs.  For additional information about Lexicon and its programs, please visit www.lexpharma.com.

Safe Harbor Statement

This press release contains “forward-looking statements,” including statements relating to Lexicon’s clinical development of LX4211, characterizations of the results of and projected timing of clinical trials of LX4211, and the potential therapeutic and commercial potential of LX4211.  The press release also contains forward-looking statements relating to Lexicon’s growth and future operating results, discovery and development of products, strategic alliances and intellectual property, as well as other matters that are not historical facts or information.  All forward-looking statements are based on management’s current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including those relating to Lexicon’s ability to successfully conduct clinical development of LX4211 and preclinical and clinical development of its other potential drug candidates, advance additional candidates into preclinical and clinical development, obtain necessary regulatory approvals, achieve its operational objectives, obtain patent protection for its discoveries and establish strategic alliances, as well as additional factors relating to manufacturing, intellectual property rights, and the therapeutic or commercial value of its drug candidates, that may cause Lexicon’s actual results to be materially different from any future results expressed or implied by such forward-looking statements.  Information identifying such important factors is contained under “Risk Factors” in Lexicon’s annual report on Form 10-K for the year ended December 31, 2012, as filed with the Securities and Exchange Commission.  Lexicon undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

Tuesday, October 1st, 2013 Uncategorized Comments Off on (LXRX) Achieves Positive Results in Type 2 Diabetes Patients with Renal Impairment

(RVLT) Provides Business Update

Revolution Lighting Technologies, Inc. (NASDAQ:RVLT) (“Revolution Lighting”), a leader in advanced LED lighting technology, today provided a business update following President and Chief Financial Officer Charlie Schafer’s presentation at Craig-Hallum’s 4th Annual Alpha Select Conference on September 26, 2013 in New York City.

Key highlights of Schafer’s presentation and Revolution Lighting’s financial performance included:

  • A robust pipeline of $150M in actionable opportunities over the next three to twelve months
  • Expected organic growth of greater than 50% for 2014-2016
  • Target gross margins of 35% or greater for 2014-2016
  • Expected pro forma revenue of approximately $17M for the second half of 2013
  • Expected full year pro forma 2013 revenue of approximately $35M
  • Adjusted EBITDA margins of 15% or greater for 2014-2016

Schafer indicated that pro forma revenue for the second half of 2013 will be approximately $17 million. As a result of certain international orders coming in later than expected, third quarter revenue is expected to be between $5-6 million and fourth quarter revenue is expected to be in excess of $10 million. Pro forma revenue for all of 2013 is expected to total approximately $35 million after giving effect to the Relume and Seesmart acquisitions, representing 100% organic growth over 2012 pro forma revenues.

Schafer added, “2013 has been a successful year for Revolution Lighting. We expanded our distribution network and completed the acquisition of Relume Technologies, which broadened our product portfolio, and strengthened our engineering and management capabilities. We are now well-positioned for the anticipated growth to come in 2014 and beyond.”

Schafer’s presentation and live audio webcast are accessible via the Revolution Lighting website at the following link: http://ir.rvlti.com/ir-calendar

About Revolution Lighting Technologies Inc.

Revolution Lighting Technologies, Inc. is a leader in the design, manufacture, marketing, and sale of light emitting diode (LED) lighting solutions focusing on the industrial, commercial and government markets in the United States, Canada, and internationally. Through advanced technology and aggressive new product development, Revolution Lighting has created an innovative, multi-brand, lighting company that offers a comprehensive advanced product platform. The company goes to market through its Seesmart brand, which designs, engineers and manufactures an extensive line of high-quality interior and exterior LED lamps and fixtures; Lighting Integration Technologies Inc., which sells and installs Seesmart products; Lumificient, which supplies LED illumination for the signage industry; Relume Technologies, a leading manufacturer of outdoor LED products; and Sentinel, a revolutionary patented and licensed monitoring and smart grid control system for outdoor lighting applications. Revolution Lighting Technologies markets and distributes its product through a network of independent sales representatives and distributors, as well as through energy savings companies and national accounts. Revolution Lighting Technologies trades on the NASDAQ under the ticker RVLT. For additional information, please visit: www.rvlti.com.

Cautionary Statement for Forward-Looking Statements

Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties, including the anticipated benefits of the Relume acquisition and statements relating to the anticipated future growth and profitability of our business. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Reference is made to Revolution Lighting’s filings under the Securities Exchange Act for additional factors that could cause actual results to differ materially, including our history of losses, the potential for future dilution to our existing common stockholders, our status as a controlled company, the risk that demand for our LED products fails to emerge as anticipated, competition from larger companies, and risks relating to third party suppliers and manufacturers, as well as the other Risk Factors described in Item 1A of our Form 10-K for the fiscal year ended December 31, 2012. Revolution Lighting Technologies, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements.

Adjusted EBITDA

We use Adjusted EBITDA as a non-GAAP measure of financial performance. Adjusted EBITDA is calculated by adding back to net income or loss interest and financing related transactions, acquisition related transactions, income taxes, depreciation and amortization, asset impairments, stock based compensation charges, and severance and transition costs. Adjusted EBITDA is provided to investors to supplement the results of operations reported in accordance with GAAP. Management believes that Adjusted EBITDA is useful to help investors analyze the operating trends in the business and to assess the relative underlying performance of businesses with different capital and tax structures. Management believes that Adjusted EBITDA provides an additional tool for investors to use in comparing our financial results with other companies that use Adjusted EBITDA in their communications with investors. By excluding non cash charges such as amortization and depreciation, stock based compensation, asset impairments as well as non operating charges for income taxes, interest and financing charges, acquisition related and severance and transition costs charges investors can evaluate our operations and compare our results with the results of other companies on a more consistent basis. Management also uses Adjusted EBITDA to evaluate potential acquisitions, establish internal budget and goals and evaluate the performance of business units and management.

We consider Adjusted EBITDA to be an important indicator of our operational strength and performance and a useful measure of historical and prospective trends. However there are significant limitations of the use of Adjusted EBITDA since it excludes interest income and expenses, financing related and acquisition related transactions and severance and transition costs, income taxes, all of which impact profitability, as well as depreciation and amortization related to the use of long lived assets that benefits future periods. We believe that limitations are compensated by providing Adjusted EBITDA only with GAAP performance measures and clearly identifying the differences between the two measures. Consequently, Adjusted EBITDA should not be considered in isolation or as a substitute for net income or loss or operating income or loss presented in accordance with GAAP. Moreover, Adjusted EBITDA as defined by the Company may not be comparable to similarly titled measure provided by other entities.

Tuesday, October 1st, 2013 Uncategorized Comments Off on (RVLT) Provides Business Update

(HOTR) Closes Acquisition of American Roadside Burgers

Acquisition Adds Five New Locations to HOTR’s Growing Restaurant Portfolio

 

CHARLOTTE, NC–(October 01, 2013) – Chanticleer Holdings, Inc. (NASDAQ: HOTR) (“Chanticleer Holdings” or the “Company”), headquartered in Charlotte, N.C., announced today that the Company has purchased all of the outstanding shares of American Roadside Burgers, Inc (“ARB”). ARB is a Charlotte, N.C. based chain of 5 casual restaurants known for serving high-quality Premium beef burgers, providing value to its customers. Subject to Board and regulatory agency approvals, Tom Lewison, a current Director of American Roadside Burgers and the former Chief Operating Officer of Bojangles, will join the Chanticleer Holdings Board of Directors and provide strategic direction for the companies.

Mike Pruitt, Chairman and Chief Executive Officer of the Company, stated: “This acquisition of an exciting chain of restaurants is our first departure from our ongoing development of Hooters restaurants in foreign countries. We believe that acquiring American Roadside at this stage of their development presents Chanticleer a strategic opportunity to participate in a high-growth space with an already established brand. We plan to continue to expand the American Roadside chain as future opportunities occur as well as continue on our development of Hooters restaurants internationally. Additionally, the opportunity to work with one of the better restaurant executives in the country, Tom Lewison, is an extremely important step in our corporate transformation.”

ARB, a 10-year-old chain is known for its diverse menu featuring fresh salads; customized burgers made from fresh beef, turkey or veggies; milk shakes; and a large selection of various sandwiches, beers and wine. In-restaurant dining is fast and convenient and the existing restaurant locations are strategically located in high traffic areas. Each restaurant features a nostalgic “made in America” theme.

The first American Roadside Burgers location opened in 2006 in Smithtown, N.Y. Since then it has expanded to 2 locations in Charlotte, N.C., 1 location in Columbia, S.C. and the newest location is in Greenville, S.C. It was founded in 2003 by John Tunney, III, a nationally renowned creator of award winning restaurants throughout the United States.

About Chanticleer Holdings, Inc.
Chanticleer Holdings (HOTR) is focused on expanding the Hooters® casual dining restaurant brand in international emerging markets. Chanticleer currently owns in whole or part of the exclusive franchise rights to develop and operate Hooters restaurants in South Africa, Hungary and parts of Brazil, and has joint ventured with the current Hooters franchisee in Australia, while evaluating several additional international opportunities. The Company currently owns and operates in whole or part of six Hooters restaurants in its international franchise territories: Durban, Johannesburg, Cape Town and Emperor’s Palace in South Africa; Campbelltown in Australia; and Budapest in Hungary.

In 2011, Chanticleer and a group of noteworthy private equity investors, which included H.I.G. Capital, KarpReilly, LLC and Kelly Hall, president of Texas Wings Inc., the largest Hooters franchisee in the United States, acquired Hooters of America, a privately held company. Today, Hooters of America is an operator and the franchisor of over 430 Hooters® restaurants in 28 countries. Chanticleer maintains a minority ownership stake in Hooters of America and its CEO, Mike Pruitt, is also a member of Hooters’ Board of Directors.

For further information, please visit www.chanticleerholdings.com
Facebook: www.Facebook.com/ChanticleerHOTR
Twitter: http://Twitter.com/ChanticleerHOTR

About American Roadside Burgers, Inc.
For further information on American Roadside Burgers, Inc., visit http://americanroadside.com

For further information on Hooters of America, visit www.Hooters.com
Facebook: www.Facebook.com/Hooters
Twitter: http://Twitter.com/Hooters

Forward-Looking Statements:
Any statements that are not historical facts contained in this release are “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or required licenses, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the companies do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.

Contact:

Chanticleer Holdings, Inc.
Mike Pruitt
Chairman/CEO
Phone: 704.366.5122 x 1
mp@chanticleerholdings.com

Tuesday, October 1st, 2013 Uncategorized Comments Off on (HOTR) Closes Acquisition of American Roadside Burgers