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Companies news of 2009-11-07 (page 1)

  • Important New Power Plant, Supplied by Wartsila, to be Inaugurated Today in Pakistan
  • Microsoft Partners in Learning Announces 2009 Worldwide Innovative Teacher AwardsGlobal...
  • Live Nation Wins Eight Billboard Touring Awards
  • Ingram Micro Expands Motorola Relationship, Adds Wireless Broadband PortfolioMotorola's...
  • Mesa Air Group, Inc. Announces Update on CRJ-200s Operating at United Airlines
  • /C O R R E C T I O N -- Wyncrest Group, Inc./In the news release, The Wyncrest Group, Inc....
  • SCOLR Pharma, Inc. Reports Third Quarter 2009 Financial Results



    Important New Power Plant, Supplied by Wartsila, to be Inaugurated Today in Pakistan

    HELSINKI, November 7 /PRNewswire/ -- Today, the inauguration of the 200 MW Nishat Power Ltd power plant, located at Jambar Kalan, near Bhai Pheru in the District of Kasur, takes place with a ceremony at the plant site. The principal guest and main speaker will be Mr Syed Yousuf Raza Gillani, Prime Minister of Pakistan. Also in attendance will be Pakistan's Federal Minister for Water and Power, Raja Pervaiz Ashraf; the Chairman of the Nishat Group, Mian Mohammad Mansha; the Governor of the Punjab, Mr Salman Taseer; the Chief Minister of the Punjab, Mr Mian Shahbaz Sharif as well as senior representatives of Wartsila, the supplier of the power plant.

    Wartsila has been responsible for the engineering, procurement and project management. Its scope of supply has included 11 Wartsila 18V46 generating sets, each with a rated capacity in excess of 17 MW. An additional 14 MW of electricity is generated by a combined cycle steam turbine, which utilizes the waste heat from the engines. The plant will be operated and maintained by Wartsila Pakistan under an initial 5-year agreement.

    The electricity produced by the plant will be supplied to the national grid, and will thus ease to some extent the country's existing power shortage. Furthermore, since the local fuel supply situation is often unreliable, the fuel flexibility of the Wartsila engines offers an ideal solution for this location. Wartsila's technology enables the utilization of locally available fuel with the highest possible efficiency to ensure a reliable supply of power to the grid. The plant's life cycle efficiency is rated at an outstanding 45%, and the average availability of its power supply is estimated to average 88%.

    Wartsila and the Nishat Group have a long established relationship, Nishat having purchased its first Wartsila engines in 2003. Today, the company owns some 600 MW of Wartsila power plants.

    In his message to the inauguration, Ole Johansson, CEO of Wartsila Corporation said: "This inauguration marks a significant milestone in the strong and lasting relationship between our companies. Wartsila has a global track record of showing strong commitment to its customers, and this commitment is evidenced by the fact that we established Wartsila Pakistan already 15 years ago, in 1994. This local presence enables us to support our operations in Pakistan, and train local personnel in the efficient operation and service of our power plant installations. Nishat Power Ltd is a prestigious project for Pakistan in general, and for the Nishat Group in particular. We congratulate everyone involved and are proud to play our part in providing Pakistan with reliable and sustainable power."

    Wartsila in brief

    Wartsila is a global leader in complete lifecycle power solutions for the marine and energy markets. By emphasising technological innovation and total efficiency, Wartsila maximises the environmental and economic performance of the vessels and power plants of its customers.

    In 2008, Wartsila's net sales totalled EUR 4.6 billion with 19,000 employees. The company has operations in 160 locations in 70 countries around the world. Wartsila is listed on the NASDAQ OMX Helsinki, Finland.

    http://www.wartsila.com

    Wartsila Corporation

    For further information, please contact: Mr Ghazanfar Mirza, Managing Director, Wärtsilä Pakistan (Pvt) Ltd., Tel: + 92-300-8455636, E-mail: ghazanfar.mirza@wartsila.com




    Microsoft Partners in Learning Announces 2009 Worldwide Innovative Teacher AwardsGlobal competition honors 14 teachers.

    SALVADOR, Brazil, Nov. 6 /PRNewswire-FirstCall/ -- After three days of seminars, teacher exhibitions and judging by an internationally renowned panel of education experts, today Microsoft Partners in Learning announced the winners of the 2009 Worldwide Innovative Teacher Awards at the Worldwide Innovative Education Forum. Partners in Learning recognizes and rewards teachers who demonstrate exemplary use of technology in the classroom to improve student learning. The 14 winning teachers -- awarded first, second and third place in four categories -- were chosen from among the 250 at the Forum representing more than 60 countries.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO)

    The Best Practice winners in the four main competition categories are Mandeep Atwal of England, Innovation in Community; Mark Sparvell of Australia, Innovation in Collaboration; Autumne Streeval and Harriet Armstrong of the United States, Innovation in Content; and Moliehi Sekese of Lesotho, Educators Choice. The 2009 Worldwide IEF award ceremony, held tonight in Salvador, Brazil, was attended by 400 educators, school leaders, government officials and others from more than 60 countries.

    "The Innovative Teacher Awards exemplify the dedication and imagination of the world's most forward-thinking educators," said Michael Golden, corporate vice president of Education at Microsoft. "The energy and entrepreneurism of the winning teachers demonstrate the infinite possibilities that technology can create to improve learning opportunities and inspire future generations toward greater academic achievement. Microsoft remains committed to supporting the community in this quest. I'd like to extend warm congratulations to everyone who participated in this and the regional events that led up to today's celebration."

    The following are the top three finalists in each category, in finishing order:

    Innovation in Community -- Best Practice: Mandeep Atwal (England), "Young Voices" -- First Runner-Up: Ollie Bray (Scotland), "Thinking outside the XBOX" -- Second Runner-Up: Lucrecio Filho de Oliveira (Brazil), Projeto "Barreiro" Innovation in Collaboration -- Best Practice: Mark Sparvell (Australia), "Connecting Hearts Heads and Hands" -- First Runner-Up: Karina Batat (Israel), "The Traveling Mascot" -- Second Runner-Up (Tie): Myreia Gussinye (Mexico), "Tolerant" -- Second Runner-Up (Tie): Xiaoyong Tang (China), "Exploration of Ant Behavior" Innovation in Content -- Best Practice: Autumne Streeval and Harriet Armstrong (United States), "US Industrial Revolution Tic Tac Toe" -- First Runner-Up: Damien Lebegue (France), "Differentiated/adapted Teaching in PE" -- Second Runner-Up: Alex Vieira dos Santos (Brazil), "Fontes De Energia" Educators Choice -- Best Practice: Moliehi Sekese (Lesotho), "Indigenous Plants" -- First Runner-Up: Janjira Phongchoo (Thailand), "MS Excel Game Building Techniques" -- Second Runner-Up: Isabel Schapdryver (Belgium), "Secondhandshop"

    "Winning the Educators Choice award is certainly a great honor," said Moliehi Sekese of Lesotho who won for her project Indigenous Plants. "Just being here and seeing how teachers from all over the world are enriching the lives of students is ultimately even more rewarding."

    Since 2003, the Partners in Learning award competition has been recognizing individuals with the Worldwide Innovative Education Awards for excellence in teaching. Teachers participate in country-level and regional events. Winners move up to the Worldwide competition.

    The judging community includes education experts from all over the world. At the event 36 judges representing 23 countries spend nearly 20 hours talking to the teachers and learning about their projects; then in a private room they discuss, debate and share with one another until the winners are finally selected.

    "Every year the submissions seem to get better and better, and this year is no exception," said Judge Eduardo O.C. Chaves of Brazil. "The level of sophistication of these entries shows that teachers are continuing to innovate and expand the ways they use technology to help students all over the world realize their potential."

    Next year's Innovative Teacher Awards results will be announced at the 2010 Worldwide IEF, which will take place in Cape Town, South Africa. Country- and regional-level competitions will take place beginning in November 2009. Interested teachers should contact their local Microsoft office for more information or look online at http://www.microsoft.com/education/pil/partnersInLearning.aspx.

    At the event, school leaders from 12 Mentor and 30 Pathfinder Schools also participated in a three-day workshop and were recognized for their leadership in driving system-level educational reform.

    About the Innovative Education Forum

    The Innovative Education Forum is an annual worldwide event. Regional forums are held around the world to create communities of teachers who can share ideas and best practices with their peers and facilitate the creation of collective knowledge. Subsets of regional forum participants are selected to represent their country at the Worldwide Innovative Education Forum.

    About Microsoft Education

    We believe that technology can expand the power of education and unlock the potential of students, educators and schools. Microsoft partners with education communities around the world to deliver relevant solutions, services and programs that focus on improved personalized learning outcomes.

    About Unlimited Potential

    Microsoft, through its Unlimited Potential vision, is committed to making technology more affordable, relevant and accessible for the 5 billion people around the world who do not yet enjoy its benefits. The company aims to do so by helping to transform education and foster a culture of innovation, and through these means enable better jobs and opportunities. By working with governments, intergovernmental organizations, nongovernmental organizations and industry partners, Microsoft hopes to reach its first major milestone -- to reach the next 1 billion people who are not yet realizing the benefits of technology -- by 2015.

    About Microsoft

    Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

    Photo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO
    http://photoarchive.ap.org/
    PRN Photo Desk photodesk@prnewswire.com Microsoft Corp.

    CONTACT: Rapid Response Team of Waggener Edstrom Worldwide,
    +1-503-443-7070, rrt@waggeneredstrom.com, for Microsoft Corp.

    Web Site: http://www.microsoft.com/




    Live Nation Wins Eight Billboard Touring Awards

    LOS ANGELES, Nov. 6 /PRNewswire-FirstCall/ -- Live Nation , the world's largest live music company, and its partners took home eight awards last night at the 2009 Billboard Touring Awards in New York City.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20081203/LAW048LOGO-b) -- Top Promoter - Live Nation -- Top Tour - Madonna's "Sticky & Sweet" tour -- Top Draw - Madonna's "Sticky & Sweet" tour -- Top Boxscore - U2 at Croke Park, Dublin -- Top Amphitheatre - Comcast Center in Mansfield, MA -- Breakthrough - Il Divo -- Top Independent Promoter (International) - Time For Fun, Sao Paulo, Brazil (Exclusive Partner to Live Nation) -- Eventful Fans' Choice Award - The Jonas Brothers

    "With a concert platform operating in more than 30 countries around the world, Live Nation is uniquely positioned to produce worldwide tours by the most iconic live performers in our business and develop newer artists as they take the global stage," said Michael Rapino. "With Madonna and U2 on the road, as well as newer touring artists like Il Divo and Jonas Brothers, 2009 has been an extraordinary year for Live Nation and the thousands of dedicated employees who help to make our events so successful for artists and fans alike."

    ABOUT LIVE NATION:

    Live Nation's mission is to maximize the live concert experience. Our core business is producing, marketing and selling live concerts for artists via our global concert pipe. Live Nation is the largest producer of live concerts in the world, annually producing over 22,000 concerts for 1,600 artists in 33 countries. During 2008, the company sold over 50 million concert tickets and drove over 70 million unique visitors to LiveNation.com. Live Nation is transforming the concert business by expanding its concert platform into ticketing and building the industry's first artist-to-fan vertically integrated concert platform. The company is headquartered in Los Angeles, California and is listed on the New York Stock Exchange, trading under the symbol LYV. For additional information about the company, please visit http://www.livenation.com/investors.

    Photo: http://www.newscom.com/cgi-bin/prnh/20081203/LAW048LOGO-b
    http://photoarchive.ap.org/
    photodesk@prnewswire.com Live Nation

    CONTACT: John Vlautin of Live Nation, +1-310-867-7127,
    johnvlautin@livenation.com

    Web Site: http://www.livenation.com/




    Ingram Micro Expands Motorola Relationship, Adds Wireless Broadband PortfolioMotorola's Portfolio Addresses Channel Partners' Need for Outdoor Wireless Infrastructure Solutions

    SANTA ANA, Calif., Nov. 6 /PRNewswire/ -- Offering channel partners one of the industry's broadest and most complete selection of technology solutions, Ingram Micro Inc. is pleased to announce it has expanded its business relationship with the Enterprise Mobility Solutions business unit of Motorola, Inc. to include its industry-leading wireless broadband portfolio. Combined with Motorola's innovative wireless LAN, wireless security and voice-over-WLAN solutions, the broadened portfolio now enables channel partners to offer enterprise mobility solutions that are easy to deploy, reliable and secure.

    "Motorola is excited to broaden our highly successful relationship with Ingram Micro to now include an industry leading wireless broadband portfolio," says Michael O'Connor, MSSI vice president, North American Distribution, Motorola Enterprise Mobility Solutions. "Customers demand solutions that provide business agility and position them for growth. With Motorola's end-to-end wireless network solutions portfolio, channel partners are uniquely positioned to meet this need with wireless agility. We are particularly excited about the prospect of increasing our reach into the government and education IT space through Ingram Micro's GovEd Alliance Channel Partners."

    Available in the U.S. and Canada, through the Ingram Micro Data Capture/POS Division, Motorola's wireless broadband solutions are purpose-built to provide channel partners with the network bandwidth necessary to extend an organization's secure wireless broadband connectivity to hard to reach places both inside and outside of their core infrastructure.

    "Motorola's portfolio offers an ideal wireless connectivity solution for the public sector that not only addresses the market's need for secure, outdoor wireless broadband networks, but also provides our channel partners with the potential to achieve significant profitability as a result of high value sales opportunities," says Justin Scopaz, general manager and vice president, Ingram Micro Data Capture/POS Division. "With the increasing IT sales opportunities stemming from the American Recovery and Reinvestment Act and the growing need for network broadband throughout North America, the timing for expanding our Motorola relationship couldn't be better. We're thrilled to bring this innovative and in-demand technology to our channel partners at a time when their customers need it most."

    Under the terms of the extended distribution relationship, the Ingram Micro Data Capture/POS Division will support, market and resell the complete line of Motorola's wireless broadband technology, which includes point-to-point (PTP), point-to-multipoint (PMP), outdoor mesh networks, and related accessories. The new line will be supported by a team of dedicated Ingram Micro sales, marketing and technical staff trained to cater to Motorola channel partners.

    The new Motorola wireless broadband portfolio will be showcased next week during the Tech Fair at Ingram Micro GovEd Alliance Invitational in Savannah, GA, Nov. 9 - 10. Channel partners seeking more information on Motorola's new wireless broadband solutions, please call Nicole Giangreco at 1-800-876-4629, ext. 64852 or email Nicole.Giangreco@ingrammicro.com.

    About Motorola

    Motorola is known around the world for innovation in communications and is focused on advancing the way the world connects. From broadband communications infrastructure, enterprise mobility and public safety solutions to high-definition video and mobile devices, Motorola is leading the next wave of innovations that enable people, enterprises and governments to be more connected and more mobile. Motorola had sales of US $30.1 billion in 2008. For more information, please visit http://www.motorola.com/.

    About the Ingram Micro Data Capture/POS Division

    The Ingram Micro Data Capture/POS Division is a leading value-added distributor of auto ID/data capture (AIDC), point-of-sale (POS), radio frequency identification (RFID) and wireless solution products and services. In addition to these technologies, the division also offers partners access to the complete suite of Ingram Micro products and services. With offices and distribution centers across North America, Latin America, Europe and Asia, the Ingram Micro Data Capture/POS Division delivers a comprehensive portfolio of products and services to technology integrators around the world. For more information, visit dcpos.ingrammicro.com.

    Ingram Micro Inc.

    CONTACT: Marie Meoli, +1-714-680-0335, marie.meoli@whitefoxpr.com, for
    Ingram Micro Inc.

    Web Site: http://www.ingrammicro.com/
    http://www.motorola.com/us




    Mesa Air Group, Inc. Announces Update on CRJ-200s Operating at United Airlines

    PHOENIX, Nov. 6 /PRNewswire-FirstCall/ -- MESA AIR GROUP, INC. today announced that the timeframe for United Airlines to exercise its renewal rights with respect to extending Mesa's operation of 26 CRJ-200 aircraft under its code-share agreement with United Airlines has expired. Mesa plans to work with United Airlines on an orderly transition plan, but, in any event, the date of exit from service is expected to be no later than April 30, 2010.

    (Logo: http://www.newscom.com/cgi-bin/prnh/19990210/LAW065)

    See the Company's disclosure in its Form 10-Q for the quarterly period ended June 30, 2009, which was filed on August 10, 2009, for a complete discussion of the Company's agreement with United and its contribution to the Company's revenue.

    This press release contains various forward-looking statements that are based on management's beliefs, as well as assumptions made by and information currently available to management. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations will prove to have been correct. Such statements are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, projected or expected.

    Mesa currently operates 136 aircraft with approximately 800 daily system departures to 126 cities, 40 states, Canada, and Mexico. Mesa operates as Delta Connection, US Airways Express and United Express under contractual agreements with Delta Air Lines, US Airways and United Airlines, respectively, and independently as Mesa Airlines and go!. In June 2006 Mesa launched inter-island Hawaiian service as go!. This operation links Honolulu to the neighbor island airports of Hilo, Kahului, Kona and Lihue. The Company, founded by Larry and Janie Risley in New Mexico in 1982, has approximately 3,700 employees.

    http://www.mesa-air.com/

    Photo: http://www.newscom.com/cgi-bin/prnh/19990210/LAW065
    http://photoarchive.ap.org/
    PRN Photo Desk, photodesk@prnewswire.com/ Mesa Air Group, Inc.

    CONTACT: Brian S. Gillman, EVP & General Counsel of Mesa Air Group,
    Inc., +1-602-685-4052, brian.gillman@mesa-air.com

    Web Site: http://www.mesa-air.com/




    /C O R R E C T I O N -- Wyncrest Group, Inc./In the news release, The Wyncrest Group, Inc. Grows Sales Force by 59%, Further Diversifying its Operations and Adding Shareholder Value, issued 06-Nov-2009 by Wyncrest Group, Inc. over PR Newswire, we are advised by the company that all mentions of SFG should be replaced with the full company name, Southwest Financial Group. The complete, corrected release follows:The Wyncrest Group, Inc. Grows Sales Force by 59%, Further Diversifying its Operations and Adding Shareholder Value

    CHICAGO, Nov. 6 /PRNewswire-FirstCall/ -- The Wyncrest Group (Pink Sheets: WNCG), a leader in niche insurance and financial products and services, announced that it grew the number of sales representatives by 59%. The company's wholly owned operating subsidiary, Southwest Financial Group, recruited an additional 50 agents from across the country to its sales force during the past month. The additional agents raise the total number of agents Southwest Financial Group contracts to approximately 135 people. The agents were contracted in order to meet the growing demand from the market and to further diversify its operations.

    Increased demand for insurance and financial products that help individuals and families protect them as well as save more for retirement in the current economic environment contributed to the need for a larger sales force. Chris Zaal, President of Southwest Financial Group commented that, "Our group holds a competitive advantage in attracting talented professionals. The breadth of product offering and technology infrastructure available at Southwest Financial Group helps distinguish us and adds to shareholder value."

    Wholly owned Southwest Financial Group has been in business for 21 years, has 18,000 clients, and sells through 100+ representatives nationwide. During 2008, approximately $22 million in total insurance policy sales were generated resulting is $1.1 million of commission revenues.

    WNCG plans to continue to grow Southwest Financial Group through discounted acquisitions of competing agencies and applying its IT advantage with a U.S. patent pending automated business method for managing the acquired client books to improve policy renewal retention and up-selling. The company expects that this strategy will reduce cost of sales by half compared to traditional origination methods.

    About The Wyncrest Group (WNCG.PK)

    The Wyncrest Group is a publicly traded company based in Chicago, Illinois, which provides insurance products and services through its Southwest Financial Group subsidiary. WNCG is also in negotiations with several acquisition targets developed over an ongoing two-year campaign to find distressed agencies and consolidate contract assets under one lower cost platform. Royalty income is expected from licensing insurance products patented under a new category of business methods, a strategy taken only by a few in a new class of small innovative insurance companies leading the industry.

    Contact: Investor Relations +1-630-215-5171 investor@wyncrestinc.com Wyncrest Group, Inc. 9654 West 131st Street, Suite 215 Palos Park, IL 60464 http://www.wyncrestgroupinc.com/

    This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. WNCG has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect WNCG's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause WNCG's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. WNCG undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.

    Wyncrest Group, Inc.

    CONTACT: Investor Relations of The Wyncrest Group, +1-630-215-5171,
    investor@wyncrestinc.com

    Web Site: http://www.wyncrestgroupinc.com/




    SCOLR Pharma, Inc. Reports Third Quarter 2009 Financial Results

    BOTHELL, Wash., Nov. 6 /PRNewswire-FirstCall/ -- SCOLR Pharma, Inc. today reported financial results for the three and nine months ended September 30, 2009.

    Stephen J. Turner, SCOLR Pharma's President and CEO, said, "We continue to advance discussions related to licensing our 12-hour ibuprofen formulation. Several potential partners have committed significant resources in time, personnel and external resources as they evaluate the potential commercial and/or licensing opportunity. In the nutraceutical area, we have increased our sales and marketing efforts and are optimistic we will be able to expand our existing revenue streams from extended release supplements. Royalties received from Perrigo continue to improve on a quarterly basis, and we expect to see further increases as we expand the reach of our products to new customers. In addition, we have made significant strides in support of our recent marketing efforts on new product offerings outside of the Perrigo relationship both within the US and abroad. We expect to be able to introduce newly formulated products in 2010 based on our meetings with numerous international, national and regional retailers and potential partners.

    We continue to make progress in reducing our operating expenses including reductions in salary and rent expenses. We renegotiated the lease for our corporate facility to reduce the amount of leased space to 15,615 square feet from 20,468 square feet and reduce our rental payments. In addition, effective November 1, 2009, the Company will be allowed to pay up to $18,000 of its monthly rent for twelve months through draw downs on the letter of credit which secures the lease. In addition, we eliminated one executive position and reduced base salaries for two executive officers. These additional savings will provide us the opportunity to preserve our capital and improve our position for the future."

    Total revenues, which consist of royalty revenue from our collaboration agreements, increased 11%, or $25,343 to $261,651 for the three months ended September 30, 2009, compared to $236,308 for the same period in 2008. Total revenues decreased 15%, or $117,223 to $664,212 for the nine months ended September 30, 2009, compared to $781,435 for the same period in 2008. Royalty revenues result from our relationship with Perrigo and reflect changes in the level of sales by Perrigo.

    Marketing and selling expenses decreased 53%, or $62,489 to $54,351 for the three months ended September 30, 2009, compared to $116,840 for the same period in 2008 and decreased 63%, or $345,177 to $200,402 for the nine months ended September 30, 2009, compared to $545,579 for the same period in 2008. These decreases are due to a reduction in personnel related expenses due to reduction in personnel and lower advertising and tradeshow expenses.

    Research and development expenses decreased 75%, or $1.7 million to $572,189 for the three months ended September 30, 2009, compared to $2.3 million for the same period in 2008 and decreased 50%, or $2.2 million to $2.2 million for the nine months ended September 30, 2009, compared to $4.4 million for the same period in 2008. These decreases were primarily due to our decision to defer development activities on certain projects pending additional funding and a reduction in personnel related expenses due to personnel reductions.

    General and administrative expenses increased 29%, or $273,061 to $1.2 million for the three months ended September 30, 2009, compared to $947,684 for the same period in 2008, and increased 3%, or $104,665, to $3.3 million for the nine months ended September 30, 2009, compared to $3.2 million for the same period in 2008. These increases were primarily due to severance costs associated with the resignation of our former CEO, and increased investment banker activities. These increases were offset by decreases in non-cash share based compensation expense director's and shareholder relations expenses and insurance premiums.

    In May 2008, we entered an agreement to terminate the lease for our former corporate facility for consideration of $4.1 million which was recognized as a reduction to operating expense in September 2008. Under the terms of the agreement, we received $1.0 million upon execution of the agreement and the remaining $3.1 million in September 2008, at the time we vacated the premises. We incurred costs of $116,867 related to relocation to our new facility and the lease buyout which were recognized in operating expense in September 2008.

    Other income decreased 98%, or $41,608 to $948 for the three months ended September 30, 2009, compared to $42,556 for the comparable period in 2008, and decreased 96%, or $186,746 to $8,548 for the nine months ended September 30, 2009, compared to $195,294 of net income for the same period in 2008. These decreases were due to a decrease in interest income due to lower cash balances.

    Net loss increased $2.5 million to $1.6 million for the three months ended September 30, 2009, compared to $890,371 of net income for the same period in 2008, and the net loss for the nine months ended September 30, 2009, increased 57%, or $1.8 million to $5.1 million, compared with a net loss of $3.2 million for the same period in 2008. The increased net loss reflects the net impact of the non-recurring $4.0 million income recognized in the prior year for the facility lease buyout.

    We had approximately $1.9 million in cash and cash equivalents, and $473,711 in restricted cash as of September 30, 2009. Based on our current operating plan, we anticipate that our existing cash and cash equivalents, together with expected royalties from third parties, will be sufficient to fund our operations through February 2010, unless unforeseen events arise that negatively impact our liquidity. In the event we are unsuccessful generating additional revenues or raising additional funds, we will have to substantially reduce our operations to preserve capital or seek bankruptcy protection or otherwise wind up our business.

    In addition to our efforts to enter into alliances and licensing agreements, we plan to continue to seek access to the capital markets to fund our operations. We filed a shelf registration statement in the amount of $40 million which was declared effective by the Securities and Exchange Commission on November 25, 2008 under which we may offer from time-to-time, one or more offerings of securities up to an aggregate public offering price of $40 million. However, the financial markets have been very difficult for companies at our development stage and financial condition and financing may not be available on favorable terms or at all. Additionally, we received notice from the NYSE Amex that we are not in compliance with continued listing requirements. Our inability to maintain listing of our common stock on the NYSE Amex may further limit our ability to access the capital markets. Any issuance of additional securities could be dilutive to our existing stockholders.

    About SCOLR Pharma:

    Based in Bothell, Washington, SCOLR Pharma, Inc. is a specialty pharmaceutical company. SCOLR Pharma's corporate objective is to combine its formulation expertise and its patented CDT platform to develop novel pharmaceutical, over-the-counter (OTC), and nutritional products. Our CDT drug delivery platforms are based on multiple issued and pending patents and other intellectual property for the programmed release or enhanced performance of active pharmaceutical ingredients and nutritional products. For more information on SCOLR Pharma, please call 425.368.1050 or visit http://www.scolr.com/.

    This press release contains forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, including activities, events or developments that we expect, believe or anticipate will or may occur in the future. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including our ability to raise additional funds or enter strategic alliances, advance development of our potential products and complete research and development, including pre-clinical and clinical studies, the continuation of arrangements with our product development partners and customers, competition, government regulation and approvals, and general economic conditions. For example, we may not obtain regulatory approval for our products, which would materially impair our ability to generate revenue. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission. Such filings are available on our website or at http://www.sec.gov/. You are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances.

    Contacts: Investor Relations info@scolr.com SCOLR Pharma, Inc. 425-368-1050 ext 1080 SCOLR Pharma, Inc. CONDENSED BALANCE SHEETS (Unaudited) September 30, December 31, 2008 2009 ---- ---- ASSETS Current Assets Cash and cash equivalents $1,946,908 $6,363,243 Accounts receivable 240,363 177,253 Interest and other receivables 6,282 1,157 Prepaid expenses and other assets 285,807 286,539 ----------- ----------- Total current assets 2,479,360 6,828,192 Property and Equipment - net of accumulated depreciation of $1,245,400 and $1,289,844, respectively 555,364 790,947 Intangible assets - net of accumulated amortization of $493,671 and $465,724, respectively 564,359 557,639 Restricted cash 473,711 473,711 ----------- ----------- $4,072,794 $8,650,489 =========== =========== LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $26,102 $238,701 Accrued liabilities 633,277 668,694 Current portion of term loan - 87,850 ----------- ----------- Total current liabilities 659,379 995,245 Deferred rent 271,790 310,010 Long-term portion of term loan - 23,269 ----------- ----------- Total liabilities 931,169 1,328,524 Commitments and Contingencies Stockholders' Equity Preferred stock, authorized 5,000,000 shares, $.01 par value, none issued or outstanding - - Common stock, authorized 100,000,000 shares, $.001 par value 41,098,270 and 41,130,270 issued and outstanding as of September 30, 2009, and December 31, 2008, Respectively 41,098 41,130 Additional paid-in capital 72,138,140 71,255,901 Accumulated deficit (69,037,613) (63,975,066) ----------- ----------- Total stockholders' equity 3,141,625 7,321,965 ----------- ----------- $4,072,794 $8,650,489 =========== =========== SCOLR Pharma, Inc. CONDENSED STATEMENTS OF OPERATIONS (Unaudited) Three months ended Nine months ended September 30, September 30, 2009 2008 2009 2008 ---- ---- ---- ---- Revenues Royalty income $261,651 $236,308 $664,212 $781,435 --------- ------- --------- --------- Total revenues 261,651 236,308 664,212 781,435 Operating expenses Marketing and selling 54,351 116,840 200,402 545,579 Research and development 572,189 2,307,103 2,187,626 4,387,636 General and administrative 1,220,745 947,684 3,347,279 3,242,614 --------- ------- --------- --------- 1,847,285 3,371,627 5,735,307 8,175,829 Facility lease termination Gain from lease buyout - (4,100,000) - (4,100,000) Expenses related to relocation and lease buyout - 116,867 - 116,867 --------- ------- --------- --------- Total facility lease buyout - (3,983,133) - (3,983,133) --------- ------- --------- --------- Total operating (revenue) expenses 1,847,285 (611,506) 5,735,307 4,192,696 --------- ------- --------- --------- Income (loss) from operations (1,585,634) 847,814 (5,071,095) (3,411,261) Other income (expense) Interest income 948 45,858 12,060 205,530 Interest expense - (3,393) (3,512) (11,565) Other - 91 - 1,329 --------- ------- --------- --------- Total other income 948 42,556 8,548 195,294 --------- ------- --------- --------- Net income (loss) $(1,584,686) $890,370 $(5,062,547)$(3,215,967) ========= ======== ========= ========= Net income (loss) per share, basic and diluted $(0.04) $.02 $(0.12) $(0.08) ========= ======== ========= ========= Shares used in computing basic net income (loss) per share 41,098,270 41,130,270 41,098,270 41,110,684 Shares used in computing diluted net income (loss) per share 41,098,270 41,561,623 41,098,270 41,110,684

    SCOLR Pharma, Inc.

    CONTACT: Investor Relations, SCOLR Pharma, Inc., +1-425-368-1050 ext
    1080, info@scolr.com

    Web Site: http://www.scolr.com/

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