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IDO Security. (OTCBB: IDOI) $0.0013. Announced last week that the Company has received initial orders for the new MagShoe 3G following marketing presentation made to local partners in various countries and two international security exhibitions: SICUR in Madrid Spain (March 2010) and Counter Terror in London UK (April 2010). The orders were placed by agents in Brazil, China, UK and Ireland.
"These initial orders are a good indication of the serious interest shown in these countries. Our agents and distributors are going to be very busy in the coming months, introducing the new MagShoe 3G series. Although these initial orders are for small quantities, mainly for pilots and evaluation processes, which is a usual stage in acquiring new technology and products, we are confident that after these succseful pilots and tests, we will receive major orders," said Dani Werber, International Marketing Manager for IDO Security.
What They Do: Headquartered in New York with a subsidiary in Israel, IDO Security designs, develops and markets the patented MagShoe weapons metal detection system. MagShoe fills a critical void in today's metal detectors by extending screening to the lower body and feet. MagShoe's "shoes-on" design maximizes security, thoroughness and accuracy while eliminating the need to remove shoes for increased convenience and safety. Ideal for security and loss prevention at virtually any facility, MagShoe is currently in use at international airports, cruise lines, government agencies, private homes and more.
Cypress Bioscience (Nasdaq: CYPB) $3.95. Announced Friday after market close that it has entered into an asset purchase agreement under which Exagen Diagnostics, Inc. will acquire Cypress' diagnostic business for a total of up to $8 million in upfront and milestone payments, with additional future payments in the form of royalties on product sales.
The sale of the diagnostics business follows a comprehensive, formal process Cypress initiated earlier this year related to the decision to divest these assets by the third quarter of this year. The Company noted that the sale of the diagnostic business, which was based on a decision that was made previously and reaffirmed recently by the Board, is not related to the broad evaluation of Cypress' strategic alternatives announced on September 28, 2010.
What They Do: Cypress Bioscience is a pharmaceutical company dedicated to the development of innovative drugs targeting large unmet medical needs for patients suffering from a variety of disorders of the central nervous system.
Targa Resources Partners (NYSE: NGLS) $29.18. Announced Friday after market close that the board of directors of its general partner has declared a quarterly cash distribution of 53.75c per common unit, or $2.15 per common unit on an annualized basis, for the third quarter of 2010. The approved distribution reflects an increase of approximately 2% over the previous quarter's distribution and approximately 4% over the distribution for the third quarter of 2009. This cash distribution will be paid November 12, 2010 on all outstanding common units to holders of record as of the close of business on October 18, 2010.
What They Do: Targa Resources Partners is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting and selling natural gas liquids, or NGLs, and NGL products.
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