Power3 Medical Products, Inc. (OTC.BB:PWRM), a leading proteomics company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases, has signed a definitive agreement to acquire all of the stock of Rozetta-Cell Life Sciences, Inc. Power3 plans to effectuate the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into Power3 , with Power3 remaining as the surviving company in the merger. The acquisition of Rozetta-Cell is expected to be completed in October or November 2010.
Rozetta-Cell is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. The company has a robust intellectual property portfolio and has created numerous products for adult stem cell therapy that are ready for market globally. Rozetta-Cell also has several collaborations in process through which it is partnering with industry-leading adult stem cell research companies and adult stem cell vendors.
“We are very excited to be acquiring Rozetta-Cell Life Sciences,” stated Ira L. Goldknopf, President and Chief Scientific Officer of Power3 Medical Products, Inc. “Rozetta-Cell brings us a tremendous amount of complementary adult stem cell therapy technology, know-how and experience. With the addition of Rozetta-Cell, Power3 will significantly strengthen its IP portfolio in a major growth market by merging regenerative medicine with the technologies that we are using to identify disease-specific protein biomarkers and develop them into screening and diagnostic tests to address unmet medical needs.”
CenterPoint Energy (NYSE: CNP) is significantly increasing its energy efficiency program offerings in Arkansas to help residential and commercial customers save energy and the environment. The company’s new programs include rebates for efficient water and space heating, and incentives for efficient boilers, boiler components and food service equipment. In addition, commercial customers can receive a low-cost natural gas energy audit that will identify natural gas savings opportunities that will positively impact their bottom line.
CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission and distribution, natural gas distribution, competitive natural gas sales and services, interstate pipelines and field services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. Assets total nearly $20 billion. With about 8,800 employees, CenterPoint Energy and its predecessor companies have been in business for more than 135 years.
Central European Distribution Corporation (Nasdaq: CEDC) reports results for the second quarter of 2010. Net sales for the three months ended June 30, 2010 were $175.6 million as compared to $175.9 million reported for the same period in 2009. Operating profit on a comparable basis for the second quarter 2010 was $44.7 million as compared to $36.3 million for 2009. On a comparable basis, CEDC announced net income, excluding discontinued operations of $17.6 million, or $0.25 per fully diluted share, for the second quarter of 2010, as compared to $16.2 million, or $0.34 per fully diluted share, for the same period in 2009. CEDC also announced net loss on a U.S. GAAP basis (as hereinafter defined), excluding discontinued operations, for the quarter was $70.1 million or $1.00 per fully diluted share, as compared to net profit of $211.4 million or $4.28 per fully diluted share, for the same period in 2009. The net profit in 2009 included a one-time gain in the three month period ended June 30, 2009, amounting to $225.6 million in operating income based on the remeasurement of previously held equity interests in RAG to fair value, which was partially offset by an impairment charge of $20.3 million.
CEDC is the largest producer of vodka in the world and Central and Eastern Europe’s largest integrated spirit beverage business. CEDC produces the Green Mark, Absolwent, Zubrowka, Bols, Parliament, Zhuravli, Royal and Soplica brands, among others. CEDC currently exports its products to many markets around the world, including the United States, England, France and Japan.
Central Valley Community Bancorp (NASDAQ: CVCY) subsidiary, Central Valley Community Bank, is pleased to announce the expansion of the Modesto Loan Production office to a full service branch located at 300 Banner Court Ste. 2 as of the end of September 2010. The expanded office will house a local team of seven experienced business and personal banking professionals who will provide a full range of banking services to a growing list of customers in the region. The Modesto branch hours will be Monday – Friday 9:00 a.m. – 5:00 p.m.
“We are proud of our 30 year history of strong and secure banking and we are honored to expand operations in Stanislaus County by offering a broader array of business and personal banking services. Our Modesto Loan Production office opened in 2007 and thanks to our growing number of loyal customers, this new office marks our 17th full service branch in the Valley, bringing the Bank one step closer to fulfilling the strategic vision of extending our unique brand of service throughout the entire San Joaquin Valley region,” said Daniel J. Doyle, President and CEO of Central Valley Community Bancorp and Central Valley Community Bank.
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