China Education Online: CEU:NYSE:AMEX, Revenues and earnings up 100% first 6 months: $17.00 price target.
http://www.redchip.com\press\CEU0811200901.html
http://www.redchip.com/about/aboutmain.asp?page=vreport&reportid=186&from=socialmedia
Wednesday, September 2, 2009
Friday, July 24, 2009
"Pump and Dump" Is a Pejorative Term and Rightly So
Market Commentary
Occasionally, we find a critic of RedChip who in a fury of madness mistakenly throws us into the "pump and dump" category of investor relations firms. The problem with these folks is they set themselves up as an authority though they have little understanding of the small-cap IR business or of RedChip Companies. Their arguments are seeded with logical fallacies, namely, the fallacy of generalization and the fallacy of bifurcation.
We, of course, forgive their childlike logic for they know not what they say. But, as they say in First Amendment circles, bad speech must be balanced with more speech and better speech. I am writing today for all small-cap investor relations firms who operate with integrity and professionalism.
"Pump and dump" is a term used to describe a sudden rise in a stock followed by a sudden fall. This term is typically associated with smaller-cap stocks, micro-caps and nano-caps. The SEC has done a good job of exposing and educating investors on penny stock pump-and-dump scams. These scams are typically executed by Wall Street scam artists -- boiler room operators who represent or create "startup" businesses and claim to have a breakthrough technology.
The IR promoters are typically compensated by a third party in free-trading shares and sometimes work with a syndicate of brokers who also are compensated illegally with free-trading shares. The promoters may use email blasts, cell-phone messages, telemarketing, and slick printed mail pieces that make incrediably bullish claims about the company. The common denominator is that the company they are pumping and dumping is a story stock. Fundamentals don't exist and management is a farce. As the stock moves up, the promoter sells. The "CEO" of these companies is a willing participant in these scams and benefits handsomely. An excellent book on this subject is Gary Weiss’ Born to Steal: When the Mafia Hit Wall Street.
The second common denominator is a lack of transparency and full disclosure both in regards to the company they are promoting (most do not have audited financials) and the compensation the promoter or broker is receiving.
The small- and micro-cap sector is a tough part of the market. It is fraught with failed companies and talented entrepreneurs with poor management skills who make bad decisions and, in the process, the stock is slaughtered and the company fails.
And, yes, RedChip, like every fund investor relations firm, manager, stock broker and investment bank on Wall Street, has made mistakes in misjudging companies and their prospect for success and their management teams. If the brightest analysts in the country can be fooled by the Enron's of the world, then we and our peers on occasion can as well. Indeed, we operate in the most volatile sector and sometimes "the best-laid plans of mice and men go awry."
But to associate RedChip and firms who service smaller-cap companies with "pump and dump" enterprises is not only dishonest and potentially libelous but plain wrong.
Consider the following about RedChip Companies:
• 16 years in business
• Offices in Orlando, Paris; Qingdao, China
• RedChip has both an independent research and a company sponsored research division.
• RC discovered Starbucks in 1992 and was first to put independent research on them.
• 15 CFAs/MBAs currently write research for RedChip
• RedChip's history includes Research Coverage on Daktronics, Winnebago, Marketwatch.com and many other blue chip companies.
• The RedChip Review has been praised in Barron's, Forbes, CFO.com and other financial publications
• RedChip’s company-sponsored research analysts’ forecasts are rated as accurate as "Institutional" or traditional analysts.
• Independent researcher, Dr. William Buslepp, found “no significant difference in forecast accuracy between RedChip Research and forecasts issued by traditional analysts.” (Paying for Coverage: Conflict of Interest Among Company-Sponsored Research Firms, 2008 doctoral dissertation; p. 51)
• RedChip's 2007 NY conference was the only small-cap conference ever covered by CNBC.
• In 2008, RC was the first small-cap IR firm to ring the NASDAQ Closing bell on national television.
• Fund managers from the largest small-cap funds in the world attend RedChip Conferences, subscribe to RedChip research, and hold positions in many RedChip client stocks.
• Stock brokers and investment bankers representing over 50 firms, including tier-1 broker-dealers, attend RedChip conferences, hold positions in many RC stocks and subscribe to RedChip Research.
RedChip has the most comprehensive platform of research and IR services in the industry: Research, Conferences, Retail and Institutional Road Shows, Radio, Webcasting, Virtual Conferences, Podcasts, Shareholder Intelligence, Internet Marketing and Web 2.0/Social Media Marketing.
RedChip’s client lineup includes profitable, fast-growing companies representing a variety of sectors as well as a select few promising startups and healthcare companies:
ZAGG (Consumer products)
CEU: NYSE Amex (Online education, vocational and English language training in China)
LLFH (Coal, China)
WEMU (Solar products manufacturing, China)
LPIH (Fuel wholesaler and distributor, China)
RXII: Nasdaq (Biotech; RNAi therapeutics; company founded by Nobel laureate)
NG: NYSE Amex (gold)
QGP: NYSE Amex (Health Information Technology)
DPDM (Internet technology; CEO is the largest producer of children's films for Nickelodeon)
As a final thought, the small-cap IR industry needs a written code of ethics and an organization that upholds the highest ethical standards and edcuates its members on the importance of honesty, accountability and professionalism while insuring that its critics have a truer understanding of the small-cap IR our business.
Respectfully yours,
Dave Gentry
President
RedChip Companies, Inc.
Occasionally, we find a critic of RedChip who in a fury of madness mistakenly throws us into the "pump and dump" category of investor relations firms. The problem with these folks is they set themselves up as an authority though they have little understanding of the small-cap IR business or of RedChip Companies. Their arguments are seeded with logical fallacies, namely, the fallacy of generalization and the fallacy of bifurcation.
We, of course, forgive their childlike logic for they know not what they say. But, as they say in First Amendment circles, bad speech must be balanced with more speech and better speech. I am writing today for all small-cap investor relations firms who operate with integrity and professionalism.
"Pump and dump" is a term used to describe a sudden rise in a stock followed by a sudden fall. This term is typically associated with smaller-cap stocks, micro-caps and nano-caps. The SEC has done a good job of exposing and educating investors on penny stock pump-and-dump scams. These scams are typically executed by Wall Street scam artists -- boiler room operators who represent or create "startup" businesses and claim to have a breakthrough technology.
The IR promoters are typically compensated by a third party in free-trading shares and sometimes work with a syndicate of brokers who also are compensated illegally with free-trading shares. The promoters may use email blasts, cell-phone messages, telemarketing, and slick printed mail pieces that make incrediably bullish claims about the company. The common denominator is that the company they are pumping and dumping is a story stock. Fundamentals don't exist and management is a farce. As the stock moves up, the promoter sells. The "CEO" of these companies is a willing participant in these scams and benefits handsomely. An excellent book on this subject is Gary Weiss’ Born to Steal: When the Mafia Hit Wall Street.
The second common denominator is a lack of transparency and full disclosure both in regards to the company they are promoting (most do not have audited financials) and the compensation the promoter or broker is receiving.
The small- and micro-cap sector is a tough part of the market. It is fraught with failed companies and talented entrepreneurs with poor management skills who make bad decisions and, in the process, the stock is slaughtered and the company fails.
And, yes, RedChip, like every fund investor relations firm, manager, stock broker and investment bank on Wall Street, has made mistakes in misjudging companies and their prospect for success and their management teams. If the brightest analysts in the country can be fooled by the Enron's of the world, then we and our peers on occasion can as well. Indeed, we operate in the most volatile sector and sometimes "the best-laid plans of mice and men go awry."
But to associate RedChip and firms who service smaller-cap companies with "pump and dump" enterprises is not only dishonest and potentially libelous but plain wrong.
Consider the following about RedChip Companies:
• 16 years in business
• Offices in Orlando, Paris; Qingdao, China
• RedChip has both an independent research and a company sponsored research division.
• RC discovered Starbucks in 1992 and was first to put independent research on them.
• 15 CFAs/MBAs currently write research for RedChip
• RedChip's history includes Research Coverage on Daktronics, Winnebago, Marketwatch.com and many other blue chip companies.
• The RedChip Review has been praised in Barron's, Forbes, CFO.com and other financial publications
• RedChip’s company-sponsored research analysts’ forecasts are rated as accurate as "Institutional" or traditional analysts.
• Independent researcher, Dr. William Buslepp, found “no significant difference in forecast accuracy between RedChip Research and forecasts issued by traditional analysts.” (Paying for Coverage: Conflict of Interest Among Company-Sponsored Research Firms, 2008 doctoral dissertation; p. 51)
• RedChip's 2007 NY conference was the only small-cap conference ever covered by CNBC.
• In 2008, RC was the first small-cap IR firm to ring the NASDAQ Closing bell on national television.
• Fund managers from the largest small-cap funds in the world attend RedChip Conferences, subscribe to RedChip research, and hold positions in many RedChip client stocks.
• Stock brokers and investment bankers representing over 50 firms, including tier-1 broker-dealers, attend RedChip conferences, hold positions in many RC stocks and subscribe to RedChip Research.
RedChip has the most comprehensive platform of research and IR services in the industry: Research, Conferences, Retail and Institutional Road Shows, Radio, Webcasting, Virtual Conferences, Podcasts, Shareholder Intelligence, Internet Marketing and Web 2.0/Social Media Marketing.
RedChip’s client lineup includes profitable, fast-growing companies representing a variety of sectors as well as a select few promising startups and healthcare companies:
ZAGG (Consumer products)
CEU: NYSE Amex (Online education, vocational and English language training in China)
LLFH (Coal, China)
WEMU (Solar products manufacturing, China)
LPIH (Fuel wholesaler and distributor, China)
RXII: Nasdaq (Biotech; RNAi therapeutics; company founded by Nobel laureate)
NG: NYSE Amex (gold)
QGP: NYSE Amex (Health Information Technology)
DPDM (Internet technology; CEO is the largest producer of children's films for Nickelodeon)
As a final thought, the small-cap IR industry needs a written code of ethics and an organization that upholds the highest ethical standards and edcuates its members on the importance of honesty, accountability and professionalism while insuring that its critics have a truer understanding of the small-cap IR our business.
Respectfully yours,
Dave Gentry
President
RedChip Companies, Inc.
Wednesday, October 1, 2008
RedChip Visibility Issues Second Quarter 2008 Research Update On Echo Therapeutics
Wednesday October 1, 12:33 pm ET
ORLANDO, Fla., Oct. 1, 2008 (GLOBE NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc. today announced that it has issued a second quarter 2008 research update for Echo Therapeutics, Inc. (OTC BB: ECTE), a medical device and specialty pharmaceuticals company focused on next-generation transdermal continuous glucose monitoring (tCGM) systems for people with diabetes as well as improved topical reformulations of FDA-approved products.
Harry Russell, MBA, RedChip Research Analyst, reported:
"Although we believe that ECTE should have a newsworthy remainder of the year, we now feel that it has run into some liquidity issues which must be dealt with. Given the existing cash balance coupled with the Company's monthly burn rate, a deal either with a pharmaceutical company or a financial entity must happen in short order as ECTE is definitely going to run into liquidity problems if it has not already.
"On the positive side, ECTE is attempting to address an enormous and underserved market in developing treatments for diabetes which has become a major epidemic in the United States affecting nearly 24 million people. A solution such as Echo's should still be entertained by partners regardless of economic environment. Further, as a transdermal delivery vehicle, AzoneTS can move wasted resources off the shelf of pharmaceutical companies. As this can revitalize sales with little capital outlay and clinical expense, this should also be entertained by pharmaceutical companies regardless of the economic conditions,'' he continued.
"The bottom line is that ECTE is better positioned than most and can monetize some of its clinical programs even in this environment. We concede that with a stronger balance sheet the Company could get better economics, but we also note that the small-capitalization space should currently be in survival mode and very few companies have the financial flexibility that Echo currently has. We reiterate our 'Speculative Buy' recommendation of Echo Therapeutics for investors who understand the economic turmoil currently underway and the increasing risk of the small-capitalization specialty pharmaceutical space. We believe the shares currently offer a favorable risk/reward and believe the Company should be able to weather this storm. However, given the times, we have reduced our 12-month price target from $5.00 to $3.75 per share,'' Russell concluded.
To receive a complimentary copy of the RedChip Visibility Research Report for ECTE, please visit: http://www.redchip.com/visibility/about.asp?page=vreport&reportid=137&from=10012008pr.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm with offices in Orlando, Florida; Shanghai; and Paris, with affiliates in Atlanta and New York. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research(tm), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Internet TV(tm), and RedChip Radio(tm). To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp.
"Discovering Tomorrow's Blue Chips Today''(tm)
Disclosure
None of the profiles issued by RedChip Companies, Inc. constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Echo Therapeutics, Inc. paid RedChip Visibility, a division of RedChip Companies, Inc., $50,000 for RedChip Visibility Program services, which included the preparation of this equity research report.
To the fullest extent permissible under applicable law, RedChip Companies, Inc. will not be liable to you or anyone else for the quality, accuracy, completeness, reliability, or timeliness of this information.
Contact:
RedChip Companies, Inc.
1-800-REDCHIP (733-2447 ext. 106)
Research@RedChip.com
www.RedChip.com
ORLANDO, Fla., Oct. 1, 2008 (GLOBE NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc. today announced that it has issued a second quarter 2008 research update for Echo Therapeutics, Inc. (OTC BB: ECTE), a medical device and specialty pharmaceuticals company focused on next-generation transdermal continuous glucose monitoring (tCGM) systems for people with diabetes as well as improved topical reformulations of FDA-approved products.
Harry Russell, MBA, RedChip Research Analyst, reported:
"Although we believe that ECTE should have a newsworthy remainder of the year, we now feel that it has run into some liquidity issues which must be dealt with. Given the existing cash balance coupled with the Company's monthly burn rate, a deal either with a pharmaceutical company or a financial entity must happen in short order as ECTE is definitely going to run into liquidity problems if it has not already.
"On the positive side, ECTE is attempting to address an enormous and underserved market in developing treatments for diabetes which has become a major epidemic in the United States affecting nearly 24 million people. A solution such as Echo's should still be entertained by partners regardless of economic environment. Further, as a transdermal delivery vehicle, AzoneTS can move wasted resources off the shelf of pharmaceutical companies. As this can revitalize sales with little capital outlay and clinical expense, this should also be entertained by pharmaceutical companies regardless of the economic conditions,'' he continued.
"The bottom line is that ECTE is better positioned than most and can monetize some of its clinical programs even in this environment. We concede that with a stronger balance sheet the Company could get better economics, but we also note that the small-capitalization space should currently be in survival mode and very few companies have the financial flexibility that Echo currently has. We reiterate our 'Speculative Buy' recommendation of Echo Therapeutics for investors who understand the economic turmoil currently underway and the increasing risk of the small-capitalization specialty pharmaceutical space. We believe the shares currently offer a favorable risk/reward and believe the Company should be able to weather this storm. However, given the times, we have reduced our 12-month price target from $5.00 to $3.75 per share,'' Russell concluded.
To receive a complimentary copy of the RedChip Visibility Research Report for ECTE, please visit: http://www.redchip.com/visibility/about.asp?page=vreport&reportid=137&from=10012008pr.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm with offices in Orlando, Florida; Shanghai; and Paris, with affiliates in Atlanta and New York. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research(tm), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Internet TV(tm), and RedChip Radio(tm). To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp.
"Discovering Tomorrow's Blue Chips Today''(tm)
Disclosure
None of the profiles issued by RedChip Companies, Inc. constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Echo Therapeutics, Inc. paid RedChip Visibility, a division of RedChip Companies, Inc., $50,000 for RedChip Visibility Program services, which included the preparation of this equity research report.
To the fullest extent permissible under applicable law, RedChip Companies, Inc. will not be liable to you or anyone else for the quality, accuracy, completeness, reliability, or timeliness of this information.
Contact:
RedChip Companies, Inc.
1-800-REDCHIP (733-2447 ext. 106)
Research@RedChip.com
www.RedChip.com
RedChip Independent Issues Second Quarter 2008 Research Update On Worldwide Energy and Manufacturing USA
Wednesday October 1, 9:51 am ET
ORLANDO, Fla., Oct. 1, 2008 (GLOBE NEWSWIRE) -- RedChip Independent, a division of RedChip Companies, Inc., has issued a second quarter 2008 research update for Worldwide Energy and Manufacturing USA, Inc. (OTC BB: WEMU.OB), a 15-year-old engineering, contract manufacturing and direct manufacturing company based in the United States specializing in international manufacturing for solar modules, electronics, mechanical and fiber optic products.
Neha Bhargava, MBA, RedChip Research Analyst, reported:
"WEMU continued to exceed our expectations both in terms of revenue and earnings growth in 2Q08, further strengthening our optimistic view of the Company's growth potential. The Company has already surpassed its own revenue projections for its solar division for 2008 and continues to experience steady growth in its contract manufacturing business, further adding to WEMU's rapid revenue growth in recent quarters.''
"The billion dollar solar industry remains the fastest growing among renewable energy industries, and we think WEMU will benefit greatly as it strives to become a dominant player in the space. The Company's strategic shift toward solar cell manufacturing, which has been validated by an impressive inflow of over $30 million worth of signed solar module manufacturing contracts, and the expansion of its electronic segment were the key drivers of revenue and business growth during the quarter,'' she continued.
"We maintain our 'Buy' recommendation on WEMU as the Company's revenue and earnings growth are constantly achieving higher levels,'' Bhargava concluded.
About RedChip Independent(tm)
RedChip Companies, Inc. is a well-established source of independent research and information on the small-cap market. Dedicated to ``Discovering Tomorrow's Blue Chips Today,''(tm) its analysts seek out up-and-coming and undiscovered small-cap companies before they show up on Wall Street's radar. To view the full version of this report, to include the investment conclusion and target price, subscribe to RedChip's Research Community online by visiting http://www.redchip.com/research/researchmain.asp or call 1-800-REDCHIP.
The RedChip Companies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2761
Disclosure
Neither RedChip Companies nor the analyst has received any compensation from Worldwide Energy and Manufacturing USA, Inc. or any other party for the writing and preparation of this equity research report. The analyst(s) contributing to this report do not hold any shares of the subject securities. This report is based on data obtained from sources we believe to be reliable but is not guaranteed as to accuracy and does not purport to be complete. Neither the information nor any opinion expressed constitutes an offer, or an invitation to make or garner an offer, to buy or sell any securities or any options, futures, or other derivatives related to such securities.
The subject security is currently engaged by RedChip Companies' investor relations division to provide investor awareness services, which is in no way related to RedChip Companies' Independent Research division. Worldwide Energy and Manufacturing USA, Inc. agreed to pay RedChip Companies, Inc. a fee of $2,500 in cash per month 800 shares of common stock under Rule 144 for six months of these services. RedChip Securities, a FINRA broker-dealer, was the underwriter of a five million dollar capital raise in June 2008 for Worldwide Energy and Manufacturing USA, Inc. for which RedChip Securities received banking fees. RedChip Securities is not owned or operated by RedChip Companies or RedChip Independent. RedChip Companies and RedChip Independent are not owned or operated by RedChip Securities.
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100
Orlando, FL 32751
(800) 733-2447
Fax: (407) 644-0758
info@redchip.com
ORLANDO, Fla., Oct. 1, 2008 (GLOBE NEWSWIRE) -- RedChip Independent, a division of RedChip Companies, Inc., has issued a second quarter 2008 research update for Worldwide Energy and Manufacturing USA, Inc. (OTC BB: WEMU.OB), a 15-year-old engineering, contract manufacturing and direct manufacturing company based in the United States specializing in international manufacturing for solar modules, electronics, mechanical and fiber optic products.
Neha Bhargava, MBA, RedChip Research Analyst, reported:
"WEMU continued to exceed our expectations both in terms of revenue and earnings growth in 2Q08, further strengthening our optimistic view of the Company's growth potential. The Company has already surpassed its own revenue projections for its solar division for 2008 and continues to experience steady growth in its contract manufacturing business, further adding to WEMU's rapid revenue growth in recent quarters.''
"The billion dollar solar industry remains the fastest growing among renewable energy industries, and we think WEMU will benefit greatly as it strives to become a dominant player in the space. The Company's strategic shift toward solar cell manufacturing, which has been validated by an impressive inflow of over $30 million worth of signed solar module manufacturing contracts, and the expansion of its electronic segment were the key drivers of revenue and business growth during the quarter,'' she continued.
"We maintain our 'Buy' recommendation on WEMU as the Company's revenue and earnings growth are constantly achieving higher levels,'' Bhargava concluded.
About RedChip Independent(tm)
RedChip Companies, Inc. is a well-established source of independent research and information on the small-cap market. Dedicated to ``Discovering Tomorrow's Blue Chips Today,''(tm) its analysts seek out up-and-coming and undiscovered small-cap companies before they show up on Wall Street's radar. To view the full version of this report, to include the investment conclusion and target price, subscribe to RedChip's Research Community online by visiting http://www.redchip.com/research/researchmain.asp or call 1-800-REDCHIP.
The RedChip Companies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2761
Disclosure
Neither RedChip Companies nor the analyst has received any compensation from Worldwide Energy and Manufacturing USA, Inc. or any other party for the writing and preparation of this equity research report. The analyst(s) contributing to this report do not hold any shares of the subject securities. This report is based on data obtained from sources we believe to be reliable but is not guaranteed as to accuracy and does not purport to be complete. Neither the information nor any opinion expressed constitutes an offer, or an invitation to make or garner an offer, to buy or sell any securities or any options, futures, or other derivatives related to such securities.
The subject security is currently engaged by RedChip Companies' investor relations division to provide investor awareness services, which is in no way related to RedChip Companies' Independent Research division. Worldwide Energy and Manufacturing USA, Inc. agreed to pay RedChip Companies, Inc. a fee of $2,500 in cash per month 800 shares of common stock under Rule 144 for six months of these services. RedChip Securities, a FINRA broker-dealer, was the underwriter of a five million dollar capital raise in June 2008 for Worldwide Energy and Manufacturing USA, Inc. for which RedChip Securities received banking fees. RedChip Securities is not owned or operated by RedChip Companies or RedChip Independent. RedChip Companies and RedChip Independent are not owned or operated by RedChip Securities.
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100
Orlando, FL 32751
(800) 733-2447
Fax: (407) 644-0758
info@redchip.com
Elephant Talk Announces Execution of Contract with T-Mobile in the Netherlands, a Subsidiary of Deutsche Telekom AG
Wednesday October 1, 9:09 am ET
SCHIPHOL, Netherlands, Oct. 1 /PRNewswire-FirstCall/ -- Elephant Talk Communications, Inc. (OTC Bulletin Board: ETAK), an international telecom and multimedia content distributor, today announced the execution of a contract with T-Mobile Netherlands B.V. to enable Mobile Virtual Network Operators (MVNOs) in the country to operate voice and data services over the T-Mobile Network.
The agreement includes the deployment and operation of a fully featured 2G and 3G network.
Steven Van der Velden, CEO of Elephant Talk, stated: "We are very proud because through this agreement with T-Mobile, we are ready to immediately offer our services as a full MVNE (Mobile Virtual Network Enabler) to the MVNO market in The Netherlands. As a matter of fact, a first MVNO has started their operations and several others are expected to sign up in the near future. This represents a fundamental milestone in our strategy to become a major player in the arena of the MVNO Enabler market worldwide."
"The extreme flexibility and the comprehensiveness of our solution," said Steven Van der Velden, "allows us to setup and launch a new MVNO project in a matter of weeks, thus reducing considerably the barrier of entry for new starters."
Martin Zuurbier, CTO/COO of Elephant Talk, highlighted the importance of providing MVNOs with a complete portfolio of services "from Network to CRM and Billing, so that they can concentrate on their core business of attracting and retaining new subscribers in targeted segments of the market."
"We are seeing new and potentially market-altering business models that go much further than traditional voice and messaging services," commented Martin Zuurbier, "that take advantage of the most advanced Data and Convergent Services. This trend is already visible in the Dutch market, which is probably the most developed and competitive marketplace in Europe. We expect that this tendency will continue and spread globally as the market matures."
"In other words," concluded Martin Zuurbier, "Elephant Talk integrates the necessary Networks and IT technologies that provide the means for Convergent, Personalized, Branded Services to MVNOs, by aggregating together a mix of well-suited, customer-focused packages, thus maximizing the Average Revenue per User (ARPU)."
Additionally, Bart Weijermars, Marketing Director of T-Mobile in The Netherlands commented: "In order to be successful in markets such as Bank, Media, Ethnic, Corporate or Communities, MVNOs realize that they have to offer more than inexpensive voice services. To attract new customers and to retain them, MVNOs need to offer an innovative package tailored to their subscribers. With the use of the excellent 2G and 3G T-Mobile network, we enable Elephant Talk to bring their customers an integral set of services that provide them the means to succeed. In return, we expect that our partnership with Elephant Talk will generate additional traffic on our network."
About Elephant Talk Communications
Elephant Talk Communications is positioning itself as an international telecom operator and enabler/systems integrator to the multimedia industry by facilitating the distribution of all forms of content, as well as mobile and fixed-telecom services, to global telecommunications consumers. The Company provides traditional telecom services, media streaming, and distribution services primarily to the business-to-business (B2B) community within the telecommunications market. Elephant Talk is also a systems integrator and developer for mobile telecom and content distribution solutions; and, as a Mobile Virtual Network Enabler (MVNE), the Company has positioned itself as the premier outsourcing partner for both Mobile Network Operators (MNOs) as well as for Mobile Virtual Network Operators (MVNOs). Elephant Talk is positioning itself as the preferred MVNE partner of the larger, global Mobile Operators and currently operates sophisticated networks in over a dozen markets in Europe, Asia Pacific and the Middle East.
About T-Mobile
Per July 1, 2008, T-Mobile Netherlands BV realized a turnover of 863 million Euros. T-Mobile serves 5.3 million customers in The Netherlands (per July 1, 2008). T-Mobile offers products and services for the consumer market as well as for business users. In the Netherlands, T-Mobile owns a state of the art mobile network for voice and data services as well as a fast growing number of HotSpot locations where users have access to a high speed mobile internet connection. T-Mobile Netherlands BV is part of T-Mobile International, one of the world's leading companies in mobile communications.
T-Mobile, one of Deutsche Telekom's operating units, concentrates on the most dynamic markets in Europe and the United States. At the beginning of July 2008 nearly 125 million mobile customers were served by companies of the Deutsche Telekom group. And all that over a common technology platform based on GSM, the world's most successful digital wireless standard. This also makes T-Mobile the only mobile communications provider with a seamless transatlantic service.
T-Mobile is also a partner of FreeMove, an alliance formed by four of Europe's leading mobile companies--Orange, TIM (Telecom Italia Mobile), T-Mobile and TeliaSonera--to help their customers communicate as easily while traveling abroad as they do at home.
More information:
T-Mobile Netherlands
Priscilla Tomasoa
Spokesperson
Phone: +31 6 1409 6666
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100
Maitland, FL 32751
(800) 733-2447
Fax: (407) 644-0758
info@redchip.com
SCHIPHOL, Netherlands, Oct. 1 /PRNewswire-FirstCall/ -- Elephant Talk Communications, Inc. (OTC Bulletin Board: ETAK), an international telecom and multimedia content distributor, today announced the execution of a contract with T-Mobile Netherlands B.V. to enable Mobile Virtual Network Operators (MVNOs) in the country to operate voice and data services over the T-Mobile Network.
The agreement includes the deployment and operation of a fully featured 2G and 3G network.
Steven Van der Velden, CEO of Elephant Talk, stated: "We are very proud because through this agreement with T-Mobile, we are ready to immediately offer our services as a full MVNE (Mobile Virtual Network Enabler) to the MVNO market in The Netherlands. As a matter of fact, a first MVNO has started their operations and several others are expected to sign up in the near future. This represents a fundamental milestone in our strategy to become a major player in the arena of the MVNO Enabler market worldwide."
"The extreme flexibility and the comprehensiveness of our solution," said Steven Van der Velden, "allows us to setup and launch a new MVNO project in a matter of weeks, thus reducing considerably the barrier of entry for new starters."
Martin Zuurbier, CTO/COO of Elephant Talk, highlighted the importance of providing MVNOs with a complete portfolio of services "from Network to CRM and Billing, so that they can concentrate on their core business of attracting and retaining new subscribers in targeted segments of the market."
"We are seeing new and potentially market-altering business models that go much further than traditional voice and messaging services," commented Martin Zuurbier, "that take advantage of the most advanced Data and Convergent Services. This trend is already visible in the Dutch market, which is probably the most developed and competitive marketplace in Europe. We expect that this tendency will continue and spread globally as the market matures."
"In other words," concluded Martin Zuurbier, "Elephant Talk integrates the necessary Networks and IT technologies that provide the means for Convergent, Personalized, Branded Services to MVNOs, by aggregating together a mix of well-suited, customer-focused packages, thus maximizing the Average Revenue per User (ARPU)."
Additionally, Bart Weijermars, Marketing Director of T-Mobile in The Netherlands commented: "In order to be successful in markets such as Bank, Media, Ethnic, Corporate or Communities, MVNOs realize that they have to offer more than inexpensive voice services. To attract new customers and to retain them, MVNOs need to offer an innovative package tailored to their subscribers. With the use of the excellent 2G and 3G T-Mobile network, we enable Elephant Talk to bring their customers an integral set of services that provide them the means to succeed. In return, we expect that our partnership with Elephant Talk will generate additional traffic on our network."
About Elephant Talk Communications
Elephant Talk Communications is positioning itself as an international telecom operator and enabler/systems integrator to the multimedia industry by facilitating the distribution of all forms of content, as well as mobile and fixed-telecom services, to global telecommunications consumers. The Company provides traditional telecom services, media streaming, and distribution services primarily to the business-to-business (B2B) community within the telecommunications market. Elephant Talk is also a systems integrator and developer for mobile telecom and content distribution solutions; and, as a Mobile Virtual Network Enabler (MVNE), the Company has positioned itself as the premier outsourcing partner for both Mobile Network Operators (MNOs) as well as for Mobile Virtual Network Operators (MVNOs). Elephant Talk is positioning itself as the preferred MVNE partner of the larger, global Mobile Operators and currently operates sophisticated networks in over a dozen markets in Europe, Asia Pacific and the Middle East.
About T-Mobile
Per July 1, 2008, T-Mobile Netherlands BV realized a turnover of 863 million Euros. T-Mobile serves 5.3 million customers in The Netherlands (per July 1, 2008). T-Mobile offers products and services for the consumer market as well as for business users. In the Netherlands, T-Mobile owns a state of the art mobile network for voice and data services as well as a fast growing number of HotSpot locations where users have access to a high speed mobile internet connection. T-Mobile Netherlands BV is part of T-Mobile International, one of the world's leading companies in mobile communications.
T-Mobile, one of Deutsche Telekom's operating units, concentrates on the most dynamic markets in Europe and the United States. At the beginning of July 2008 nearly 125 million mobile customers were served by companies of the Deutsche Telekom group. And all that over a common technology platform based on GSM, the world's most successful digital wireless standard. This also makes T-Mobile the only mobile communications provider with a seamless transatlantic service.
T-Mobile is also a partner of FreeMove, an alliance formed by four of Europe's leading mobile companies--Orange, TIM (Telecom Italia Mobile), T-Mobile and TeliaSonera--to help their customers communicate as easily while traveling abroad as they do at home.
More information:
T-Mobile Netherlands
Priscilla Tomasoa
Spokesperson
Phone: +31 6 1409 6666
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100
Maitland, FL 32751
(800) 733-2447
Fax: (407) 644-0758
info@redchip.com
ZBB Energy Corporation Appoints William Mundell Chairman of the Board of Directors
Wednesday October 1, 7:00 am ET
MILWAUKEE, Oct. 1 /PRNewswire-FirstCall/ -- ZBB Energy Corporation (Amex: ZBB) today announced that Mr. Bill Mundell has accepted the position as Chairman of the Board of Directors, taking over from Australian-based Mr. Richard Payne, who will continue to serve as a non-executive Director. Mr. Mundell joined the Board of ZBB following completion of the Company's IPO in mid 2007 and his appointment as Chairman is a further move to strengthen the management of operations from the United States.
Mr. Mundell is an international businessman with a solid track record in the information and educational technology industries. He is Chairman of Intekea, a Los Angeles based joint venture focused on economic development in West and Central Africa. He is the former Chairman and CEO of Vidyah Inc., a company founded out of Knowledge Universe to create a second generation of e-learning. During the same time he assumed responsibility for another Knowledge Universe controlled company, International Knowledge Management. Previously, he was Chairman of Trade, Inc. a leading competitive intelligence company specializing in international trade information controlled by Bain Capital and Sutter Hill.
ZBB's Chief Executive Officer Rob Parry commented, "Bill Mundell brings both exceptional leadership qualities and extensive experience, which has been and will continue to be of great value to ZBB from the stand-point of our strategic positioning, future growth and technological prowess. We are thrilled that Bill has accepted this nomination and look forward to his initiative and guidance as we take ZBB to the next phase of our development."
From 1989 through 1998, Mr. Mundell was with WEFA, serving first as President and later as President and Chief Executive Officer. WEFA, the world's premier economic forecasting authority, was founded in 1963 as Wharton Econometric Forecasting Associates by the Nobel Laureate economist Dr. Lawrence Klein.
Mr. Mundell was also an adjunct professor at UCLA's Anderson Graduate School of Management, where he taught economics and finance and he is an honorary professor at Tsinghau University in China. He received his undergraduate degree in Economics and Political Science at Carlton University in Canada where he was the recipient of the U.S. Ambassadors Award. He completed his graduate studies at Columbia University, earning an MBA in Finance and a Masters in International Economics and Public Finance.
About ZBB Energy Corporation
ZBB Energy Corporation (Amex: ZBB) provides clean energy storage solutions based on proprietary zinc rechargeable energy storage technology that addresses requirements in multiple markets such as alternative energy applications, large electrical utilities and green residential and commercial architecture. A developer and manufacturer of its modular, transportable and environmentally friendly Zinc Energy Storage Solutions ("ZESS"), ZBB was founded in 1981 as an R&D company and is headquartered in Wisconsin with offices located in Perth, Australia.
Safe Harbor
Except for the historical information contained herein, the matters set forth in this press release, including the description of the company and its product offerings, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risk and uncertainties inherent in the early stages of growth companies, the company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the company's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.
About SMH Market & Liquidity Services
SMH Market & Liquidity Services is an unregulated affiliate of SMH Capital Inc., a registered broker-dealer and a member of FINRA and SIPC, and a subsidiary of Sanders Morris Harris Group. SMH Market & Liquidity Services helps small cap companies seeking to expand their investor exposure and market depth and breadth through a broad spectrum of services that include comprehensive perspective reports, strategic shareholder communications, and trading analysis. SMH Market & Liquidity Services receives compensation from its company clients for all communications and publications prepared on its behalf (http://www.smhmls.com). In addition, SMH Capital may provide, or may have provided, any of its services to the subject company, including market making, specialized and other proprietary trading, fund management, investment services and investment banking. This is not a solicitation to buy or offer to sell or the subject company's securities.
Contact Information:
Robert Parry
Chief Executive Officer
ZBB Energy Corporation
T: 262.253.9800
Email: rparry@zbbenergy.com
Joanne Verkuilen
SMH Market & Liquidity Services, SMH MLS LLC
T: 212-893-1122
joanne.verkuilen@smhmls.com
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100
Maitland, FL 32751
(800) 733-2447
Fax: (407) 644-0758
info@redchip.com
MILWAUKEE, Oct. 1 /PRNewswire-FirstCall/ -- ZBB Energy Corporation (Amex: ZBB) today announced that Mr. Bill Mundell has accepted the position as Chairman of the Board of Directors, taking over from Australian-based Mr. Richard Payne, who will continue to serve as a non-executive Director. Mr. Mundell joined the Board of ZBB following completion of the Company's IPO in mid 2007 and his appointment as Chairman is a further move to strengthen the management of operations from the United States.
Mr. Mundell is an international businessman with a solid track record in the information and educational technology industries. He is Chairman of Intekea, a Los Angeles based joint venture focused on economic development in West and Central Africa. He is the former Chairman and CEO of Vidyah Inc., a company founded out of Knowledge Universe to create a second generation of e-learning. During the same time he assumed responsibility for another Knowledge Universe controlled company, International Knowledge Management. Previously, he was Chairman of Trade, Inc. a leading competitive intelligence company specializing in international trade information controlled by Bain Capital and Sutter Hill.
ZBB's Chief Executive Officer Rob Parry commented, "Bill Mundell brings both exceptional leadership qualities and extensive experience, which has been and will continue to be of great value to ZBB from the stand-point of our strategic positioning, future growth and technological prowess. We are thrilled that Bill has accepted this nomination and look forward to his initiative and guidance as we take ZBB to the next phase of our development."
From 1989 through 1998, Mr. Mundell was with WEFA, serving first as President and later as President and Chief Executive Officer. WEFA, the world's premier economic forecasting authority, was founded in 1963 as Wharton Econometric Forecasting Associates by the Nobel Laureate economist Dr. Lawrence Klein.
Mr. Mundell was also an adjunct professor at UCLA's Anderson Graduate School of Management, where he taught economics and finance and he is an honorary professor at Tsinghau University in China. He received his undergraduate degree in Economics and Political Science at Carlton University in Canada where he was the recipient of the U.S. Ambassadors Award. He completed his graduate studies at Columbia University, earning an MBA in Finance and a Masters in International Economics and Public Finance.
About ZBB Energy Corporation
ZBB Energy Corporation (Amex: ZBB) provides clean energy storage solutions based on proprietary zinc rechargeable energy storage technology that addresses requirements in multiple markets such as alternative energy applications, large electrical utilities and green residential and commercial architecture. A developer and manufacturer of its modular, transportable and environmentally friendly Zinc Energy Storage Solutions ("ZESS"), ZBB was founded in 1981 as an R&D company and is headquartered in Wisconsin with offices located in Perth, Australia.
Safe Harbor
Except for the historical information contained herein, the matters set forth in this press release, including the description of the company and its product offerings, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risk and uncertainties inherent in the early stages of growth companies, the company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the company's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.
About SMH Market & Liquidity Services
SMH Market & Liquidity Services is an unregulated affiliate of SMH Capital Inc., a registered broker-dealer and a member of FINRA and SIPC, and a subsidiary of Sanders Morris Harris Group. SMH Market & Liquidity Services helps small cap companies seeking to expand their investor exposure and market depth and breadth through a broad spectrum of services that include comprehensive perspective reports, strategic shareholder communications, and trading analysis. SMH Market & Liquidity Services receives compensation from its company clients for all communications and publications prepared on its behalf (http://www.smhmls.com). In addition, SMH Capital may provide, or may have provided, any of its services to the subject company, including market making, specialized and other proprietary trading, fund management, investment services and investment banking. This is not a solicitation to buy or offer to sell or the subject company's securities.
Contact Information:
Robert Parry
Chief Executive Officer
ZBB Energy Corporation
T: 262.253.9800
Email: rparry@zbbenergy.com
Joanne Verkuilen
SMH Market & Liquidity Services, SMH MLS LLC
T: 212-893-1122
joanne.verkuilen@smhmls.com
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100
Maitland, FL 32751
(800) 733-2447
Fax: (407) 644-0758
info@redchip.com
Bioheart Announces 35 Leading U.S. Heart Failure Centers Engaged in Phase II/III Marvel Trial of Myogenic Cells for Treating Advanced Heart Failure
Tuesday September 30, 9:45 am ET
Company Targeting to Complete Enrollment of 150 patients by March 2009
SUNRISE, Fla., Sept. 30 /PRNewswire-FirstCall/ -- Bioheart, Inc., (Nasdaq: BHRT), today announced that 35 of the leading U.S. Heart Failure Centers have engaged in Bioheart's Phase II/III MARVEL(1) Trial of myogenic cells for treating advanced heart failure.
'With 35 leading heart failure centers engaged, we are making tremendous progress in patient screening and enrollment,' said Dr. Warren Sherman, Principal Investigator and Director, Cardiac Cell-based Endovascular Therapies, Columbia University Medical Center, New York. 'We have added nearly 45 patients into our trial in the past three months.'
The MARVEL Trial, a randomized, double-blind, placebo-controlled, multi-center Phase II/III Trial involving 330 patients in North America and Europe, is the largest trial of its kind to date. Enrollment in the MARVEL Trial began in October 2007, targeting patients who fall into Class II or III heart failure. The MARVEL Trial is studying the safety and efficacy of MyoCell autologous clinical cell therapy in the treatment of congestive heart failure delivered via a MyoStar(TM) injection catheter(2), in combination with the NOGA(R) XP Cardiac Navigation System. The MyoCell injection process is a minimally invasive procedure which presents less risk and considerably less trauma to a patient than conventional (open) heart surgery.
The trial is designed for an interim look at 150 patients with six-month follow-up. Based on the statistical significance of these interim results, the Company will explore the potential to submit for early commercial approval in the United States. Bioheart is on track to complete enrollment of 150 patients by March 2009, subject to its timely receipt of additional financing and barring any unforeseen changes.
This study has a cell concentration of up to 200 million cells/ml and administers 16 injections per patient, with varying dosing per injection. There are three study groups in the trial, one receiving a total of 800 million cells, one receiving a total of 400 million cells and the third receiving placebo injections. In contrast, previous studies involving MyoCell(R) Therapy had a cell concentration of 50 million cells/ml and administered 32 injections per patient. Animal studies involving MyoCell(R) therapy have suggested increased cell retention, survival and engraftment with the higher concentration of cells and lower number of injections, in part due to lower inflammation response.
'We expect the MARVEL Trial will confirm our current beliefs regarding the safety and efficacy of MyoCell,' said Howard J. Leonhardt, CEO and Chief Technology Officer, Bioheart. 'Results from our completed Phase I US MYOHEART Trial and Phase II European SEISMIC Trial showed 83-94 percent of the MyoCell(R) treated heart failure patients improved, or did not worsen, in Quality of Life or heart failure class while only 6-17 percent worsened. In comparison, in the SEISMIC Trial control group, 58 percent of the patients that received drugs only improved or did not worsen while 42 percent of such patients worsened.
In October, Bioheart intends to apply for approval to market and reimbursement for MYOCELL(R) Therapy in various countries in Europe for the sickest Class III heart failure patients that continue to deteriorate despite treatment with all currently available therapies applied including drugs, pacers and mechanical assist devices, with no additional therapeutic options.
ABOUT CONGESTIVE HEART FAILURE
Congestive heart failure (CHF), or heart failure, is a condition in which the heart cannot pump enough oxygenated blood to the body's vital organs. People with heart failure find that they cannot exert themselves as they become tired and short of breath. Current therapeutic options include palliative medical therapy (symptom-treating medicine), cardiac assist devices or cardiac transplantation. Heart failure is a leading cause of hospitalizations in people over age 65.
ABOUT MYOCELL(R) CLINICAL CELL THERAPY
MyoCell(R) clinical cell therapy, developed by Bioheart, Inc., is currently being studied as an investigational therapy in Europe and the U.S. MyoCell(R) clinical cell therapy is intended to be used to improve cardiac function months or even years after a patient has suffered severe heart damage due to a heart attack. The procedure involves a physician removing a small amount of muscle obtained from the patient's thigh. From this muscle specimen, autologous myoblasts (muscle stem cells) are then isolated, grown using Bioheart's proprietary cell-culturing process, and injected directly into the scar tissue of the patient's heart. The myoblast cells are delivered via an endoventricular needle-injection catheter during a minimally invasive procedure performed by an interventional cardiologist or vascular surgeon. The myoblast-based muscle formation in the newly populated regions of scar tissue are intended to improve cardiac function by helping the heart muscle beat more efficiently.
ABOUT BIOHEART, INC.
Bioheart, Inc. (Nasdaq: BHRT) is committed to delivering intelligent devices and biologics that help monitor, diagnose and treat heart failure and cardiovascular diseases. Its goals are to improve a patient's quality of life and reduce health care costs and hospitalizations. Specific to biotechnology, Bioheart is focused on the discovery, development and, subject to regulatory approval, commercialization of autologous cell therapies for the treatment of chronic and acute heart damage. Its lead product candidate, MyoCell(R), is an innovative clinical muscle-derived stem cell therapy designed to populate regions of scar tissue within a patient's heart with new living cells for the purpose of improving cardiac function in chronic heart failure patients. The Company's pipeline includes multiple product candidates for the treatment of heart damage, including Bioheart Acute Cell Therapy, an autologous, adipose tissue-derived stem cell treatment for acute heart damage, and MyoCell(R) SDF-1, a therapy utilizing autologous cells that are genetically modified to express additional potentially therapeutic growth proteins. For more information on Bioheart, visit www.bioheartinc.com.
Footnotes:
(1) MARVEL: A Phase II/III, Double-Blind, Randomized, Placebo-Controlled Multi-center study to Assess the Safety and Cardiovascular Effects of MyoCell Implantation by a Catheter Delivery System in Congestive Heart Failure Patients Post-Myocardial Infarction(s)
(2) The MYOSTAR(TM) Injection Catheter is not available for sale in the U.S. It is in use in IND investigations
MyoCell and MyoCell SDF-1 are trademarks of Bioheart, Inc.
MyoStar and NOGA XP are trademarks of Cordis Corporation, a Johnson & Johnson company
Forward Looking Statements:
Except for historical matters contained herein, statements made in this press release are forward- looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as 'may', 'will', 'to', 'plan', 'expect',
'believe', 'anticipate', 'intend', 'could', 'would', 'estimate', or 'continue' or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.
Investors and others are cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. These risk factors include, without limitation, (i) our ability to secure additional financing; (ii) the timely success and completion of our clinical trials; (iii) the occurrence of any unacceptable side effects during or after preclinical and clinical testing of our product candidates; (iv) regulatory approval of our product candidates; (v) our dependence on the success of our lead product candidate; (vi) our inability to predict the extent of our future losses or if or when we will become profitable; (vii) our ability to protect our intellectual property rights; (viii) our inability to predict the extent of our future losses or if or when we will become profitable; and (viii) intense competition . The company is also subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including the section titled 'Risk Factors' in its Annual Report on Form 10-K for the year ended December 31, 2007, as amended by Amendment No. 1 on Form 10-K/A and its quarterly report on Form 10-Q for the quarters ended March 31, 2008 and June 30, 2008.
SOURCE Bioheart, Inc.
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100
Maitland, FL 32751
(800) 733-2447
Fax: (407) 644-0758
info@redchip.com
Company Targeting to Complete Enrollment of 150 patients by March 2009
SUNRISE, Fla., Sept. 30 /PRNewswire-FirstCall/ -- Bioheart, Inc., (Nasdaq: BHRT), today announced that 35 of the leading U.S. Heart Failure Centers have engaged in Bioheart's Phase II/III MARVEL(1) Trial of myogenic cells for treating advanced heart failure.
'With 35 leading heart failure centers engaged, we are making tremendous progress in patient screening and enrollment,' said Dr. Warren Sherman, Principal Investigator and Director, Cardiac Cell-based Endovascular Therapies, Columbia University Medical Center, New York. 'We have added nearly 45 patients into our trial in the past three months.'
The MARVEL Trial, a randomized, double-blind, placebo-controlled, multi-center Phase II/III Trial involving 330 patients in North America and Europe, is the largest trial of its kind to date. Enrollment in the MARVEL Trial began in October 2007, targeting patients who fall into Class II or III heart failure. The MARVEL Trial is studying the safety and efficacy of MyoCell autologous clinical cell therapy in the treatment of congestive heart failure delivered via a MyoStar(TM) injection catheter(2), in combination with the NOGA(R) XP Cardiac Navigation System. The MyoCell injection process is a minimally invasive procedure which presents less risk and considerably less trauma to a patient than conventional (open) heart surgery.
The trial is designed for an interim look at 150 patients with six-month follow-up. Based on the statistical significance of these interim results, the Company will explore the potential to submit for early commercial approval in the United States. Bioheart is on track to complete enrollment of 150 patients by March 2009, subject to its timely receipt of additional financing and barring any unforeseen changes.
This study has a cell concentration of up to 200 million cells/ml and administers 16 injections per patient, with varying dosing per injection. There are three study groups in the trial, one receiving a total of 800 million cells, one receiving a total of 400 million cells and the third receiving placebo injections. In contrast, previous studies involving MyoCell(R) Therapy had a cell concentration of 50 million cells/ml and administered 32 injections per patient. Animal studies involving MyoCell(R) therapy have suggested increased cell retention, survival and engraftment with the higher concentration of cells and lower number of injections, in part due to lower inflammation response.
'We expect the MARVEL Trial will confirm our current beliefs regarding the safety and efficacy of MyoCell,' said Howard J. Leonhardt, CEO and Chief Technology Officer, Bioheart. 'Results from our completed Phase I US MYOHEART Trial and Phase II European SEISMIC Trial showed 83-94 percent of the MyoCell(R) treated heart failure patients improved, or did not worsen, in Quality of Life or heart failure class while only 6-17 percent worsened. In comparison, in the SEISMIC Trial control group, 58 percent of the patients that received drugs only improved or did not worsen while 42 percent of such patients worsened.
In October, Bioheart intends to apply for approval to market and reimbursement for MYOCELL(R) Therapy in various countries in Europe for the sickest Class III heart failure patients that continue to deteriorate despite treatment with all currently available therapies applied including drugs, pacers and mechanical assist devices, with no additional therapeutic options.
ABOUT CONGESTIVE HEART FAILURE
Congestive heart failure (CHF), or heart failure, is a condition in which the heart cannot pump enough oxygenated blood to the body's vital organs. People with heart failure find that they cannot exert themselves as they become tired and short of breath. Current therapeutic options include palliative medical therapy (symptom-treating medicine), cardiac assist devices or cardiac transplantation. Heart failure is a leading cause of hospitalizations in people over age 65.
ABOUT MYOCELL(R) CLINICAL CELL THERAPY
MyoCell(R) clinical cell therapy, developed by Bioheart, Inc., is currently being studied as an investigational therapy in Europe and the U.S. MyoCell(R) clinical cell therapy is intended to be used to improve cardiac function months or even years after a patient has suffered severe heart damage due to a heart attack. The procedure involves a physician removing a small amount of muscle obtained from the patient's thigh. From this muscle specimen, autologous myoblasts (muscle stem cells) are then isolated, grown using Bioheart's proprietary cell-culturing process, and injected directly into the scar tissue of the patient's heart. The myoblast cells are delivered via an endoventricular needle-injection catheter during a minimally invasive procedure performed by an interventional cardiologist or vascular surgeon. The myoblast-based muscle formation in the newly populated regions of scar tissue are intended to improve cardiac function by helping the heart muscle beat more efficiently.
ABOUT BIOHEART, INC.
Bioheart, Inc. (Nasdaq: BHRT) is committed to delivering intelligent devices and biologics that help monitor, diagnose and treat heart failure and cardiovascular diseases. Its goals are to improve a patient's quality of life and reduce health care costs and hospitalizations. Specific to biotechnology, Bioheart is focused on the discovery, development and, subject to regulatory approval, commercialization of autologous cell therapies for the treatment of chronic and acute heart damage. Its lead product candidate, MyoCell(R), is an innovative clinical muscle-derived stem cell therapy designed to populate regions of scar tissue within a patient's heart with new living cells for the purpose of improving cardiac function in chronic heart failure patients. The Company's pipeline includes multiple product candidates for the treatment of heart damage, including Bioheart Acute Cell Therapy, an autologous, adipose tissue-derived stem cell treatment for acute heart damage, and MyoCell(R) SDF-1, a therapy utilizing autologous cells that are genetically modified to express additional potentially therapeutic growth proteins. For more information on Bioheart, visit www.bioheartinc.com.
Footnotes:
(1) MARVEL: A Phase II/III, Double-Blind, Randomized, Placebo-Controlled Multi-center study to Assess the Safety and Cardiovascular Effects of MyoCell Implantation by a Catheter Delivery System in Congestive Heart Failure Patients Post-Myocardial Infarction(s)
(2) The MYOSTAR(TM) Injection Catheter is not available for sale in the U.S. It is in use in IND investigations
MyoCell and MyoCell SDF-1 are trademarks of Bioheart, Inc.
MyoStar and NOGA XP are trademarks of Cordis Corporation, a Johnson & Johnson company
Forward Looking Statements:
Except for historical matters contained herein, statements made in this press release are forward- looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as 'may', 'will', 'to', 'plan', 'expect',
'believe', 'anticipate', 'intend', 'could', 'would', 'estimate', or 'continue' or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.
Investors and others are cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. These risk factors include, without limitation, (i) our ability to secure additional financing; (ii) the timely success and completion of our clinical trials; (iii) the occurrence of any unacceptable side effects during or after preclinical and clinical testing of our product candidates; (iv) regulatory approval of our product candidates; (v) our dependence on the success of our lead product candidate; (vi) our inability to predict the extent of our future losses or if or when we will become profitable; (vii) our ability to protect our intellectual property rights; (viii) our inability to predict the extent of our future losses or if or when we will become profitable; and (viii) intense competition . The company is also subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including the section titled 'Risk Factors' in its Annual Report on Form 10-K for the year ended December 31, 2007, as amended by Amendment No. 1 on Form 10-K/A and its quarterly report on Form 10-Q for the quarters ended March 31, 2008 and June 30, 2008.
SOURCE Bioheart, Inc.
For Further Information, Contact:
RedChip Companies, Inc.
500 Winderley Place, Suite 100
Maitland, FL 32751
(800) 733-2447
Fax: (407) 644-0758
info@redchip.com
Subscribe to:
Posts (Atom)
