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Axion International Holdings, Inc. (OTCBB: AXIH)
NEW PROVIDENCE, N.J.—May 12-- Axion International Holdings, Inc. (OTCBB: AXIH), a next-generation technology innovator utilizing recycled plastic for high-load industrial products, today announced that its board of directors rejected a proposed financing from Harborview Masterfund, L.P. In addition, Axion terminated the consulting services of Harborview Advisors, LLC due to Harborview's breach of the consulting agreement. Harborview recently disclosed in its Securities and Exchange Commission filing that it had submitted to Axion a proposed term sheet for financing.
"Although the Company generally does not comment on proposed transactions or speculations, we believe it is necessary to address Harborview's proposal due to its public disclosure of what it styled as a 'Proprietary and Confidential' term sheet," said Axion CEO, Jim Kerstein. "After careful review, our board determined that the proposed financing was not in the best interest of the Company and its shareholders because the terms requested by Harborview undervalued the Company and were extremely onerous."
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Baron Energy, Inc. (OTCBB:BROE)
MIDLAND, Texas, May 12, 2010 -- Baron Energy, Inc. (OTCBB:BROE) ("Baron" or the "Company"), an independent oil and gas company, announced today that it has recently completed field operations to bring on more than 16 Bopd (barrels of oil per day) that was shut-in pending a workover program.
Management Comments.
Ronnie L. Steinocher, President and CEO of Baron Energy, commented, "Keeping our production on line in order to maximize revenue is important. This week long field program allows us to now have more than 90% of our total available production on line." Mr. Steinocher also noted, "We still have a few minor field operations underway and expect by the end of the month to have at least 95% of our available production on stream."
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Cannabis Science, Inc. (OTCBB:CBIS)
COLORADO SPRINGS, Colo., May 12, 2010 -- Cannabis Science, Inc. (OTCBB:CBIS), a pioneering U.S. biotech company developing pharmaceutical cannabis products, is pleased to announce that it is adding Online Communication Specialists in response to an increasing interest in Dr. Robert Melamede's understanding of the amazing roles played by the endocannabinoid system. Dr. Robert Melamede, PhD, Cannabis Science President and CEO has been accepting numerous invitations to speak about Cannabis Science at a wide variety of medical marijuana events around the world, including in the U.S., Australia and Canada, regarding his concepts of the unique role played by the endocannabinoid system in life and health.
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Avro Energy, Inc. (OTCBB:AVOE)
VIVIAN, La., May 12, 2010 -- Avro Energy, Inc. (OTCBB:AVOE) (the Company) is continuing to add new wells online to the tanks on the Muslow and Caddo Levee Board leases in North Louisiana. Adjustments are being made to production equipment with an effort to increase production on a daily basis.
In addition, negotiations are continuing on the previously announced property south of Shreveport Louisiana where the Company has a right of first refusal on the purchase of this property. The Company is awaiting a final report from its consulting geologist Murray Moore on the upper horizon potential in these wells. It is expected that a final decision will be made on this property by May 18, 2010.
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Shrink Nanotechnologies, Inc. ("Shrink") (OTCBB:INKN)
CARLSBAD, Calif.—May 12-- Shrink Nanotechnologies, Inc. ("Shrink") (OTCBB:INKN), an innovative nanotechnology company developing products and licensing opportunities in the solar energy production, medical diagnostics and sensors, and biotechnology research and development tools businesses, announced today that the "D" in its ticker symbol has been removed, and the Company has resumed trading under "INKN," effective at the open of market today.
As required by Nasdaq, a fifth character (D) was added to Shrink's symbol following the completion of a forward stock split announced by the Company on April 14, 2010. On the 21st business day subsequent to the stock split, under standard procedures, Nasdaq removes the "D" from ticker symbol, and the Company reverts back to its original ticker.
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