Austin, TX 10/11/2007 9:15:48 PM
Speak with other shareholders about: (OTCBB: CYTV), (NASDAQ: POTP), (OTCBB: ETLC), and (OTCBB: CBPC) .
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China YouTV Corp. (OTCBB: CYTV)
October 9, 2007-- China YouTV Corp. (News), a publicly traded company that provides online video viewing services through its Cn.Boo web site in China, reports that its Chinese Joint Venture Partner HuaJu has signed an agreement with Beijing Meike Communication Technique Co., Ltd ("Meike") to cooperatively build a multi-faceted uploading tool known as "Micat" on CnBoo.
Micat, developed by Meike, is a convenient, modern software system designed for customers to upload mobile phone resources to the Internet. According to the agreement, Meike will design "Huaju Micat" software exclusively for CnBoo website users. Huaju will work closely with Meike to ensure the introduction and downloading interface for "Huaju Micat" adheres to the style of the CnBoo website. Huaju will also promote "Huaju Micat" on CnBoo and through other channels. There is no charge to CnBoo to acquire the software from Meike, other than an obligation by Huaju to promote the Micat software on the web site as aforesaid. Micat will retain the copyright to the software. For the CnBoo user, the software is currently free to download.
"Huaju Micat" enables clients to transmit text messages, pictures, audio and video clips from their mobiles to personal blogs or a community online," said Mr. Wei, President and CEO of ChinaYouTV Corp.. "With a simple click of a cell phone key, all contents can be uploaded to the Internet, providing a better online experience for CnBoo users and shareholders."
Meike is a mobile-end and multi-platform software development company specializing in wireless end-to-end application solutions, embedded system research & development, and a seamless mobile communication platform design as well as facilitating wireless devices and internet integration.
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Point Therapeutics, Inc. (NASDAQ: POTP)
Oct. 10th, 2007-- DARA BioSciences(TM), a privately held development-stage pharmaceutical company, and Point Therapeutics, Inc. (NASDAQ: POTP), a biopharmaceutical company, today announced that they have entered into a definitive agreement to merge.
Pursuant to the merger agreement, DARA will merge with a subsidiary of Point, with DARA surviving as a wholly-owned subsidiary of Point. After giving effect to the merger, DARA stockholders will hold 96.4% of Point's outstanding shares of common stock on a fully-diluted basis, and Point will change its name to DARA BioSciences, Inc. and be based in Raleigh. The acquisition is intended to be a tax-free reorganization under Section 368(a) of the Internal Revenue Code and is expected to close in the first quarter of 2008.
The combined company plans to evaluate and prioritize its potential research and development programs. DARA and Point's combined R&D assets for the development of therapeutics are focused in the areas of metabolic diseases, including Type 2 diabetes, neuropathic pain, dermatologic disorders, and oncology. A recently signed license agreement with Bayer Pharmaceuticals grants DARA exclusive worldwide rights to a series of patents and compounds for the treatment of metabolic diseases, including Type 2 diabetes and dyslipidemia, expanding DARA's current product candidate pipeline for metabolic diseases. DARA is also developing a novel therapeutic candidate for the treatment of chronic neuropathic pain in cancer patients, a program that is currently in a Phase 2 clinical trial.
Commenting on the announced merger plans, Richard A. Franco, Sr., DARA's President and Chief Executive Officer, stated, "All parties involved believe this to be a logical and productive course of action given the potential synergies of combining Point and DARA. We believe this transaction provides an exciting opportunity for the stockholders of both companies to realize value and liquidity from this combination."
"We are excited about the opportunity to merge with DARA," said Don Kiepert, Point's Chairman and President. "The combination of Point and DARA will give our stockholders an opportunity to retain an equity interest in a stronger company with a broad and attractive portfolio of potential products."
Point and DARA believe that the proposed merger will qualify as a "reverse merger" under NASDAQ Marketplace Rule 4340. As a result, although Point's common stock is currently listed on NASDAQ, DARA intends to file an initial listing application and satisfy all requirements for initial listing, subject to the completion of the merger and NASDAQ approval. As previously announced on September 17, 2007, Point received a determination letter from the staff of The NASDAQ Stock Market indicating that Point's securities are subject to potential delisting from NASDAQ. The staff determination was based on the fact that Point does not currently meet the $1 minimum share price requirement for continued listing on NASDAQ and that Point's recent cessation of its clinical and research operations renders Point a "public shell," or non-operating company in the opinion of the staff. Point has requested a hearing before a NASDAQ Listing Qualifications Panel and intends to seek continued listing of its common stock pending the completion of the merger, subject to NASDAQ approval.
About Point Therapeutics, Inc.
Point Therapeutics, Inc. is a biopharmaceutical company which has studied its lead product candidate, talabostat, in a number of human clinical trials in late-stage cancers. Recent interim clinical results caused Point's Independent Data Monitoring Committee to recommend stopping Point's most advanced clinical trials, two Phase 3 talabostat studies for patients in advanced non-small cell lung cancer. Subsequently, the talabostat clinical development program was put on clinical hold by the FDA. Point has also studied talabostat in several Phase 2 trials, including as a single-agent and in combination with cisplatin in metastatic melanoma, in combination with rituximab in advanced chronic lymphocytic leukemia, and in combination with gemcitabine in Stage IV pancreatic cancer. Due to cash limitations, Point is not currently funding any research or clinical operations.
About DARA BioSciences, Inc.
DARA BioSciences(TM), Inc. is a Raleigh, North Carolina-based development-stage pharmaceutical company that acquires promising therapeutic molecules and medical technologies directly. DARA focuses its therapeutic development efforts on small molecules from late preclinical development through phase 2 clinical trials. DARA is developing a portfolio of therapeutic candidates for neuropathic pain, metabolic diseases including Type 2 diabetes, and dermatological disorders.
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Etelcharge.com (OTCBB: ETLC)
Oct. 11th, 2007-- Etelcharge.com (OTCBB: ETLC) (www.etelcharge.com), the new online way to pay(TM), today announced that Robyn Priest has been appointed Chief Financial Officer.
Priest was formerly a Vice President and Assistant Treasurer of CompUSA.
Robyn has a distinguished background, having previously served as a finance executive in public companies. She has also served in the capacity of Chief Financial Officer. Robyn injects solid business discipline and strict business control procedures. Her background and experience in the detailed specifics of retail finance and online merchant sales are a great complement to Etelcharge's business model. Robin Priest is a Certified Public Accountant and a graduate of the University of South Florida.
"I am excited about the direction and the opportunity as Etelcharge is transformed into a full-fledged service and marketing organization," Priest stated. "I look forward to fulfilling my role on the management team as we take the Company to the next level and fulfill all consumer, vendor and regulatory requirements. Along with that, I believe my role in solidifying strategic alliances, joint ventures and vendor agreements from a financial standpoint will assist in our anticipated growth," she concluded.
"Robyn brings the expertise, the energy and the tenacity we need on our management team," said Rob Howe, Chairman and CEO of Etelcharge. "As we take this business forward, Robyn will have far and away the bandwidth necessary for us to handle the complexities we'll face in the days ahead. She's a pro. I'm grateful she has joined us as the permanent CFO."
About Etelcharge.com
Etelcharge.com (OTCBB: ETLC), the first Web 2.0 online payment system, provides online shoppers the ability to charge approved transactions to their telephone bill. While addressing the concerns online shoppers have about identity fraud and identity theft, the Etelcharge payment option is also a perfect match for the millions of individuals without a credit card, or even a bank account.
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China Biopharma, Inc (OTCBB: CBPC)
COMPANY NEWS- October 9, 2007: It was announced that China Biopharma, Inc has been removed from the NASDAQ, AMEX and NYSE naked short threshold list.
About China Biopharma, Inc (OTCBB: CBPC) China Biopharma, Inc. is a fast-growing biopharmaceutical company based in China. Through its operating subsidiaries, Zhejiang Tianyuan Biotech Co., Ltd. and Hainan CITIC Biopharmaceutical Development Co., Ltd., the Company develops and distributes human vaccine products throughout the world's most populated country of China. Products include human vaccines against influenza, hemorrhagic fever and Japanese Encephalitis. Leveraging its investment and ownership of local Chinese biopharmaceutical companies, and partnerships with international vaccine providers, China Biopharma is building a highly competitive platform for growth in China as well as new markets, including the U.S. and Europe.
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