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BioTime Inc. (BTIM), and a Hong Kong company will start an Asian subsidiary to develop and market potential stem cell products in China — targeting eye, skin, musculoskeletal and hematologic treatments — as well as research products in China and other Asian countries. Nanshan Memorial Medical Institute Ltd., a private Hong Kong company, will be a minority shareholder in BioTime Asia Ltd. and provide initial laboratory facilities, said Alameda-based BioTime. The institute also will provide research personnel and arrange financing for clinical trials. In the last trading session, the stock closed at $5.55. The company reached a new 52 week high at $6.25 on five times the average trading volume.
Trend Technology Corporation (TRET) and Americas Energy Company (AECo) announced yesterday after the close that AECo began production of its first oil well. The well is located in Cumberland County, Kentucky on AECo's 1,700 acre lease. Upon completion of deepening the well approximately 200 feet to 1,430 feet in the Murfreesboro formation, the well is showing production levels in the 30-40 barrels per day range. After a detailed evaluation the well was placed on a timed pumping program to extend the production life of the well and is currently producing 15-20 barrels per day. "To begin production on this first oil well and to have it be such a success is very exciting for us," said Chris Headrick, President and Co-CEO of Americas Energy Company. When asked how this would affect the future, Mr. Headrick added, "Americas Energy Company's plan is to aggressively move forward with our business and exploit our recently acquired rights to the 1,700 acres surrounding this well, developing as many as 95 additional drilling sites. In the next month we also plan to begin producing coal from our 9,800,000 tons of high-grade steam coal in Bell County, Kentucky. In the first week of October we plan to initiate our core sample drilling for our exploration permit on 4,571,000 tons of proven metallurgical grade coal in Bledsoe County, Tennessee." In the prior trading session, the stock closed at $1.22. The company hit $1.32 today on yesterday’s news.
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