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Sutura, Inc. ("Sutura") (OTCBB: SUTU) Up 63.64% on Tuesday
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December 04, 2007 - Sutura Settles Patent Infringement Lawsuit With Abbott Laboratories
Sutura, Inc. ("Sutura") (OTCBB: SUTU), a California-based medical device company, announced today that it has settled a patent infringement lawsuit it had against Abbott Laboratories. The settlement provides for a cross license of the Hathaway patents, licensed to Abbott by Indiana University, and the Sutura Nobles patents. In addition, Abbott has agreed to pay Sutura $23 million as part of the settlement agreement.
"We are pleased to have reached this agreement with Abbott and resolved this patent infringement dispute with them," said David Teckman, President and CEO of Sutura. "We now look forward to moving on with our continued enhancement of Sutura's product line of vascular suturing devices, in particular the Sutura EL device."
EESTech, Inc. (OTCBB: EESH) Up 34.83% on Tuesday
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December 04, 2007 - Carbon Capture Sequestration Acquisition Provides Cost-Effective Solution for the Reduction of Greenhouse Gas Emissions
EESTech, Inc. (OTCBB: EESH) today announced the acquisition of a world-leading Carbon Capture and Storage (CCS) technology from Canadian company, HTC Purenergy.
The acquisition is structured around a share swap, with EESTech acquiring 100% of the shares in CO2 Technologies Pty Ltd, a wholly owned subsidiary of HTC Purenergy, giving EESTech, Inc. the exclusive rights to commercialise the CCS technology in China, India, Japan, Australia, New Zealand, Malaysia, Indonesia, Brunei, Thailand, the Philippines and Singapore.
The CCS technology was developed in conjunction with the world-acclaimed University Of Regina's Greenhouse Gas Technology Centre and the International Test Centre for Carbon Capture, in Saskatchewan, Canada.
EESTech, Inc.'s patented HCGT (Hybrid Coal Gas Turbine) technology was co-developed with an Australian Government Research facility. The HCGT uses waste coal, ventilated air methane or biomass to produce electricity and steam.
When the HCGT is integrated with HTC Purenergy's CCS technology the combined system can capture CO2 from power stations and other industrial flue gases, delivering a commercial-ready, cost-effective solution for the capture of CO2.
The integration of both technologies has been independently validated as cost-effective climate change technologies. When the HCGT and CCS systems are combined they become the world's first stand-alone Hybrid CCS System that is non-disruptive to industry. The combined efficiencies of the HCGT and CCS Systems will set a new industry benchmark by reducing the cost of carbon capture and sequestration by up to 40%.
EESTech CEO Mr. Murray Bailey said, "The combined technologies are globally relevant technologies in the world of today. They can be fitted as a stand-alone carbon capture service to a vast proportion of existing and planned coal-fired power stations as well as industrial facilities that are dependant on fossil fuel energy."
Carbon Capture and Storage (CCS) is a type of Carbon Abatement Technology in which the carbon in fossil fuel is captured (as CO2) and committed to long-term storage in geological formations such as depleted oil and gas fields. EESTech's integrated hybrid system will cut emissions of both carbon dioxide and fugitive methane, which is 21 times more harmful as a greenhouse gas than CO2.
Using captured CO2 for Enhanced Oil Recovery (EOR) will benefit oil field operators by extending the life of depleted oil reserves, and by yielding an increase of up to 6.5 barrels of oil for every new ton of CO2 injected into suitable oil formations.
"This acquisition will position EESTech, Inc. as a leader in this fast-growing marketplace and as a provider of clean coal and carbon capture technologies that are economically and environmentally sustainable," Mr. Bailey said.
EESTech, Inc. is well positioned to capitalize on both the energy-intensive resource boom, and the unfolding industries that will need to meet energy demands in a carbon-constrained global economy.
The announcement follows EESTech, Inc.'s September news that it had signed model power purchase and fuel supply terms with Beijing XingliYuan Science & Technology Company to provide Hybrid Coal Gas Turbines applicable to coal mine companies in China.
CEO of HTC Purenergy, Lionel Kambeitz, stated that, "The ability of the HCGT to use waste as a fuel to generate both the energy and steam required for carbon capture and sequestration offer tremendous cost savings. We look forward to working with EESTech, Inc. and the opportunity to supply cost-effective CO2 capture for the emerging EOR / Sequestration markets in the Asia Pacific region."
National Investment Managers (OTCBB: NIVM) Up 23.08% on Tuesday
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December 04, 2007 - National Investment Managers, Inc. Recapitalizes with $27 Million Debt Facilities Provided by Citizens Bank, Woodside Capital Partners and Lehman Brothers
National Investment Managers (OTC BB: NIVM), the largest independent national retirement services company, providing retirement plan administration, investment consulting, and insurance services to small businesses, with assets under administration exceeding $10 billion, announced today the closing of a refinancing led by Citizens and Woodside to provide $27 million of senior and mezzanine loans to refinance the balance sheet of the company and fund several acquisitions currently subject to letters of intent. As part of the financing, Citizens is providing $15 million in senior debt with Woodside and Lehman Brothers providing $12 million in mezzanine debt. The overall debt package can be increased to $37 million, based upon certain criteria, for continued acquisitions by National Investment Managers. As part of this long term debt arrangement, Woodside and Lehman will obtain rights for warrants for an aggregate 12% interest in the company at prices from $0.50 to $1.50 per share.
Steve Ross, CEO of National Investment Managers, said, "We are excited about partnering with our new lenders to continue our growth, including acquisitions. We have completed and integrated 10 acquisitions in the past two years, and we have identified and are in discussions with numerous new targets with several letters of intent already in place. We anticipate that this facility will provide our anticipated acquisition funding for the next 18 months".
In addition to growth through acquisitions, NIVM also reiterated its commitment to growing its revenue and earnings through its strategic partnerships and expanded distribution to cross-sell products and services to its over 10,000 retirement plan clients. John Davis, President and COO of NIVM, stated, "We are continuing to build and implement a national retirement services franchise, and we have aligned ourselves with the highest caliber business partners, as evidenced by our recently completed financing transactions. Our business model provides new and existing clients with the highest quality retirement plan consulting, design, and administration solutions at the most competitive price. And, our full service approach to retirement planning allows us to offer complementary investment and insurance products through our strategic alliances, which is a win for our clients, our strategic partners, and NIVM. The funding will allow us to continue our aggressive acquisition strategy and grow the company by reaching more customers in more markets with our full array of retirement services."
Gregory Sichenzia and Stephen M. Fleming of Sichenzia Ross Friedman Ference LLP represented National Investment Managers Inc. in connection with the above financings.
The member firms of National Investment Managers provide pension administration services, retirement planning, defined benefit services, asset preservation, general insurance and asset management services. Wholly-owned subsidiaries of National Investment Managers are based in Southington, CT; Marina Del Rey, CA; Jacksonville, FL; Orlando, FL; Boston, MA; North Attleboro, MA; Baltimore, MD; Cherry Hill, NJ; Haddonfield, NJ; New York City, NY; White Plains, NY; Bend, OR; Portland, OR; Blue Bell, PA; Harrisburg, PA; Horsham, PA; Valley Forge, PA; Providence, RI; Houston, TX; and Seattle, WA.
Neah Power Systems, Inc. (OTCBB: NPWS) Up 19.44% on Tuesday
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December 04, 2007 - Neah Power Appoints Investor Awareness, Inc. for Investor Relations Program
Neah Power Systems, Inc. (OTCBB:NPWS) announced it has retained the services of Investor Awareness, Inc. as its investor relations firm. Chicago-based Investor Awareness, Inc., a full service investor and media relations consulting firm, provides private and publicly traded companies with customized programs to generate awareness among members of the financial community. Investor Awareness specializes in accelerating growth in the value of small to mid-size companies.
Tony Schor, President of Investor Awareness, Inc., said, "We are pleased to work on behalf of Neah Power during this exciting phase of their growth and development. We look forward to communicating the company's compelling story to our established contacts amongst the investment community."
"Investor Awareness, Inc. will play an integral role in ensuring we reach the investment community with Neah Power's message," said Dan Rosen, Executive Chairman of Neah Power. "Neah Power has made great technological progress in developing a direct methanol micro fuel cell. In view of our current and anticipated progress and expansion, we are confident the time is right for us to generate awareness and convey our strategy for continued growth. We believe that Investor Awareness, Inc. is best qualified to help us reach our current and potential investor with our message."
Edgeline Holdings, Inc. (OTCBB: ELHI) Up 17.78% on Tuesday
Detailed quote: http://beaconequityresearch.com/ELHI
December 04, 2007 - Edgeline Holdings Announces the Acquisition of Intertech Bio Has Been Completed
Edgeline Holdings, Inc. (OTCBB:ELHI) announced today that it has completed the acquisition of Intertech Bio Corporation. Intertech Bio currently focuses on developing novel cancer treatments specifically targeting the brain, pancreatic and ovarian tumors. Intertech Bio will be moving to offices near the Texas Medical Center in Houston, Texas which is home to some of the most premier cancer treatment centers in the world.
Intertech Bio's medical team has many years developing and working with new cancer therapies, several which are currently in various stages of obtaining FDA approval. This team is founded by Dr. Waldemar Priebe who is a Professor of Medicinal Chemistry, Department of Experimental Therapeutics at The University of Texas, M.D. Anderson Cancer Center located in Houston, Texas and Dr. Timothy Madden who is the Director of The University of Texas M.D. Anderson Cancer Center, Pharmaceutical Development Center located in Houston, Texas.
"We are excited that we have closed on this acquisition and look forward to fully exploring some of the early stage technologies that are currently being evaluated," stated Len Ivins, Chief Executive Officer of Edgeline Holdings. "Cancer is a disease that has touched most of us or a family member and we hope that Intertech will be able to develop a therapy that can play a part in treating this deadly disease."
