Del Mar, CA – Stocksource.us brings you penny stocks in the news for Monday 26th. Making news MultiCell Technologies, Inc. (OTCBB:MCET), Electric Car Company Inc. (OTCBB:ELCR), Odyssey Oil & Energy Inc (OTC:OOGI), Clear-Lite Holdings Inc. (OTC:CLRH)
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MultiCell Technologies, Inc. (OTCBB:MCET)
WOONSOCKET, R.I., April 26 -- MultiCell Technologies, Inc. (OTC Bulletin Board: MCET) announced today that it has been granted a European patent (EP 1539819B1) covering certain of its therapeutic candidates for the treatment of cancer.
Increasing evidence suggests that the immune system regulates the development of cancer by several mechanisms. This regulation can be either beneficial through immunosurveillance and the destruction of cancer cells, or detrimental by facilitating tumor growth by shaping the immunophenotype of tumors, creating an immunosuppressive environment, or inducing regulatory T-cells.
MultiCell has created a new class of recombinant antibody therapeutics which redirect the immune response to specific cancer targets corresponding to the peptides engrafted onto the recombinant antibody. Such compositions are able to transform seemingly ineffective peptides into potent antibody therapeutics with a different mechanism of action compared to that of conventional antibody therapeutics currently in clinical use. These recombinant antibody therapeutics not only produce a potent immune response, but also stimulate the generation of cytolytic cells, and Interferon-gamma and Interleukin-2 producing T-cells. When coupled with MultiCell's dsRNA therapeutics, this new class of recombinant antibody therapeutics has been shown in animal models to eradicate cancer and generate immune protection against the reoccurrence of malignant tumors.
"We are very pleased that the European Patent Office has decided to grant us a patent covering our novel compositions and method for the treatment of cancer as well as for the treatment of infectious disease," stated Jerry Newmin, Chairman and Chief Executive Officer of MultiCell Technologies. "Our technology uses the antibody molecule as a platform to better present a peptide to immune cells thereby increasing the overall immune response to the peptide," Mr. Newmin added.
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Electric Car Company Inc. (OTCBB:ELCR)
SPRINGFIELD, Mo., Apr 26, 2010 -- Electric Car Company, Inc. (ELCR) , a vehicle conversion Company that specializes in electric conversions and manufacturing for the Livery and Fleet Markets, today announces that for the first three months ended March 31st, 2010 the Company reports $584,000.00 in signed purchase orders. This represents a total of 13 vehicles being manufactured or converted into specialty vehicles.
Estimated sales reported in the first three months of 2010 represent more than half of the entire revenues generated in 2009. It is important to note that actual revenue to be realized by the Company is dependent on delivery of the vehicles and may not be reported as revenue during the first quarter. It is expected that all vehicles will be completed and delivered by the second quarter of 2010.
In the 10-K recently released for year ended December 31st, 2009, the Company reported total revenues of $1,144,000.00 with a net loss from continuing operations of $1,911,499.00. Losses are attributed to high start up costs as well as a softening of the credit available in the automobile market.
The Electric Car Company (ECC) reports that approximately 50% of orders in the first quarter consisted of buses to be converted into specialty "Party Buses" commonly used for special events such as weddings and sporting events. The balance of production consists of standard limousines manufactured from Cadillac Escalades, Ford Navigators and Hummers.
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Odyssey Oil & Energy Inc (OTC:OOGI)
JOHANNESBURG, South Africa, Apr 26, 2010 -- Odyssey Oil & Energy, Inc. (OOGI) is pleased to announce a strategic partnership with Hylem Water (Pty) Ltd. Odyssey has entered into a Memorandum of Understanding to help Hylem raise an amount of $2.5 million in order for Hylem to implement its business plan and Odyssey will take up to a 51% interest in Hylem.
Hylem Water manufactures and markets its Rubicon Sachet, which purifies drinking water making it particularly effective in rural areas; it also has the license for the Ferate Technology, which removes heavy metals from mining and industrial wastewater.
"Hylem is a perfect fit in our on going quest as a Green Technology Company," said Arthur Johnson - President.
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Clear-Lite Holdings Inc. (OTC:CLRH)
BOCA RATON, Fla., Apr 26, 2010 -- Clear-Lite Holdings, Inc. ("ClearLite") (CLRH) , a leading innovator of eco-friendly lighting and the appreciably safer ArmorLite(TM) CFL, today announced that the Company will be expanding into new lines of environmentally-friendly businesses that will provide additional revenue opportunities outside of its cutting-edge, eco-friendly lighting products.
"There has been a shift within the consumer sector by businesses worldwide as more and more consumers begin to demand environmentally-inspired products and services for their family, home and business," commented Thomas Irvine, President and CEO of ClearLite. "We have seen this shift become more prevalent over the last few years and we believe that there is an opportunity to add new lines to our business that fit synergistically with our current strategy."
Irvine continued: "The World Watch Institute estimates that the U.S. has less than five percent of the population, but makes up 25 percent of the world's fossil fuel consumption per year. At ClearLite, we recognize the need to expand our business strategy to incorporate various environmentally-friendly products and services to enable the Company to provide consumers with a greener solution while also maintaining a sustainable business model."
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