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China Green Material Technologies, Inc. (OTCBB: CAGM)
HARBIN, China, May 14 -- China Green Material Technologies, Inc. (OTC Bulletin Board: CAGM; "CAGM" or "the Company"), a Chinese leader in developing and manufacturing starch-based biodegradable containers, tableware and packaging materials, today announced that the Company has appointed Goldman Parks Kurland Mohidin, LLP ("GPKM LLP"), an independent member of the BDO SEIDMAN ALLIANCE, as its independent registered public accounting firm, replacing MS Group CPA LLC. GPKM LLP will provide services beginning with the first fiscal quarter of 2010. The Company's decision to change auditors was not due to any disagreement between the Company and its former auditors on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
The BDO Seidman Alliance is a nationwide association of independently owned local and regional accounting and consulting firms sharing a dedication to exemplary client service.
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Hana Biosciences Inc., (OTCBB:HNAB)
SOUTH SAN FRANCISCO, Calif., May 14, 2010-- Hana Biosciences Inc., (OTCBB:HNAB), a biopharmaceutical company focused on strengthening the foundation of cancer care, today reported financial results for the first quarter ended March 31, 2010, and provided a corporate update.
"During the first quarter of 2010, we continued our focus on the clinical and manufacturing development for Marqibo(R) in relapsed/refractory adult acute lymphoblastic leukemia," said Steven R. Deitcher, M.D., President and Chief Executive Officer of Hana Biosciences. "We continue to move forward with our submission plans following input received from the Food and Drug Administration during our April pre-New Drug Application meeting. We are confident that the complete rALLy data from the entire 65 patient population, which will be reported in an oral presentation at the 2010 Meeting of the American Society of Clinical Oncology, will provide additional evidence of Marqibo's efficacy."
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BioNeutral Group, Inc. (OTCBB:BONU)
NEWARK, N.J.—May 14-- BioNeutral Group, Inc. (OTCBB:BONU), a specialty chemical technology-based life science company, reports that it has decided to accelerate commercial activities for its Ygiene(TM) hospital disinfectants first within the European Union being followed closely by the Asian markets. To assist in this effort, BioNeutral has established an Advisory Board for Euro-Asian markets.
Sir Anthony Jolliffe, GBE, DL, DSc, the former Lord Mayor of London, will serve as Chairman of the Advisory Board. A global entrepreneur and businessman, Sir Anthony currently holds and has held numerous directorships of private and listed companies in the U.S. and Japan. He is a director of Turbochef Technologies Inc., Chairman of Medicsight International Ltd., International Advisor to Xioyia Group China, and Chairman of Golden Tulip Hotels. He is currently involved in major business projects in China, Europe, the Middle East, the U.S. and the U.K. as a shareholder, partner, advisor and consultant, and has led international trade missions to Spain, Japan, Germany, and other countries.
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MegaWest Energy Corp.,(OTCBB: MGWSF)
CALGARY, ALBERTA -- 05/14/10 -- MegaWest Energy Corp., (the "Company" or "MegaWest"), (OTCBB: MGWSF) is very pleased to announce that it has entered into a $1.0 million line of credit agreement for the purchase of natural gas while heavy oil production ramps up.
Natural Gas Purchase Line of Credit
The Company has entered into a Natural Gas Purchase Line of Credit Agreement (the "Credit Agreement") with a private lender for a line of credit for the sole purpose of buying natural gas to fuel the Company's steam generators on its Marmaton River ("Marmaton") and Grassy Creek ("Grassy") steam flood heavy oil projects. To date, the Company has drawn funding in the amount of $475,000 under the Credit Agreement for natural gas purchases in April and early May 2010. Management anticipates that this Credit Agreement will be utilized for three to four months and it will be terminated when it is no longer required.
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Solar EnerTech Corp. (OTCBB: SOEN)
MOUNTAIN VIEW, Calif., May 14 -- Solar EnerTech Corp. (OTC Bulletin Board: SOEN) (the "Company") today announced financial results for the second quarter of fiscal year 2010.
Second Quarter Highlights:
-- Shipments increased 314% as compared to the second quarter in the prior
year period.
-- Revenue increased 302% to $17.8 million as compared to $4.4 million for
the second quarter of the prior year.
-- Gross profit increased to $0.9 million as compared to ($1.3) million in
the second quarter in the prior year.
Total module shipments increased 314% in the second fiscal quarter 2010 as compared to the second fiscal quarter of the prior year. Revenue for the second fiscal quarter 2010 increased 302% to $17.8 million as compared to $4.4 million in the second fiscal quarter a year ago. The breakdown in revenue for the second fiscal quarter 2010 was comprised of approximately $13.4 million in solar module sales, of which more than 95% were sold into Europe and Australia; $3.5 million of solar cell sales; and $0.9 million from the resale of raw materials. The increase in revenue was driven by increased sales orders from new and existing customers as a result of heightened efforts by the Company's sales and marketing team. Specifically, during the fourth quarter of fiscal year 2009, the Company signed a 10MW contract with a new customer located in Europe and in the first quarter of fiscal year 2010 the Company signed a 15 MW contract and a 10MW contract with two existing customers which contributed to the increased sales volume.
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