latest news releases from the newsroom
Petroleum Geo-Services ASA
PGS to Demerge its Production Activities
OSLO, Norway, March 28, 2006 (PRIMEZONE) -- Petroleum Geo-Services ASA ("PGS" or the "Company") (OSE:PGS) (NYSE:PGS) announced today that its Board of Directors has decided to recommend to PGS' shareholders a separation of the Company into two separately listed businesses by demerging its activities within floating production (the "Production Business") into a newly-formed entity named Petrojarl ASA ("Petrojarl"). The activities within the geophysical business (the "Geophysical Business") will continue in the name of PGS. The separation will be implemented through a combined demerger and offering structure.
Desert Health Products, Inc.
Desert Health Products, Inc. President and CEO Sets Bold New Agenda
SCOTTSDALE, Ariz., March 27, 2006 (PRIMEZONE) -- Desert Health Products, Inc. (OTCBB:DHPI) announced today as part of it's plan of reorganization, the appointment of David Stewart as Chief Executive Officer, effective March 21, 2006. The appointment of Stewart comes with the recommendation of the Unsecured Creditors Committee and Court Approval of this experienced seasoned executive.
Smart-tek Solutions Inc.
Smart-tek Responds to Press Release
CORTE MADERA, Calif., March 27, 2006 (PRIMEZONE) -- Smart-tek Solutions, Inc. (OTCBB:STTK) announced today that it has been made aware that RFID Ltd., a publicly traded company on the Pink Sheets, has leveled some misleading accusations about the efficacy of its proprietary RTAC-PM Bird Flu Containment and Monitoring System.
IElement Corporation Appoints New Directors
DALLAS, March 27, 2006 (PRIMEZONE) -- IElement Corporation (OTCBB:IELM) (Frankfurt:SZQ1), a nationwide provider of advanced communications services and Voice over Internet Protocol (VoIP) solutions, announced today that it has appointed two new members to its board of directors, Lance Stovall and Ken Willey.
Port of Houston Authority
PHA Commission Delivers Noise Reduction Measures, Heavy Crane Purchases for Bayport
HOUSTON, March 27, 2006 (PRIMEZONE) -- The Port of Houston Authority Commission (PHA) approved several recommendations, including the purchases of two dockside cranes for the soon-to-be opened Bayport Container Terminal and the purchase of additional non-intrusive safety alarm equipment during its March 27 meeting. Chairman Jim Edmonds presided over the meeting with Commissioner Steve Phelps, Commissioner Jim Fonteno, Commissioner Kase Lawal, Commissioner Jimmy Burke, Commissioner Janiece Longoria and Commissioner Elyse Lanier.
Acura Pharmaceuticals Inc.
Acura Pharmaceuticals, Inc. Secures Bridge Funding
PALATINE, Ill., March 27, 2006 (PRIMEZONE) -- Acura Pharmaceuticals, Inc. (OTCBB:ACUR) today announced it has secured gross proceeds of $750,000 under a term loan agreement (the "Loan") with Essex Woodlands Health Ventures V, L.P., Care Capital Investments II, L.P., Care Capital Offshore Investments II, L.P., Galen Partners III, L.P., Galen Partners International III, L.P. and Galen Employee Fund III, L.P (collectively the "Bridge Lenders"). The Loan matures on June 1, 2006, bears an annual interest rate of 10%, is secured by a lien on all assets of the Company and its subsidiary, and is senior to all other Company debt. The Company will use utilize the net proceeds from the Loan to continue funding product development and licensing activities relating to OxyADF(TM) tablets and other product candidates utilizing its Aversion(R) Technology. The Loan permits the funding of additional cash amounts subject to agreement by the Company and the Bridge Lenders. No assurance can be given, however, that any additional funding will be advanced to the Company under the terms of the Loan.
Gardy & Notis, LLP
Gardy & Notis, LLP Announces Filing a Securities Fraud Class Action Lawsuit Against PainCare Holdings, Inc. -- PRZ
ENGLEWOOD CLIFFS, N.J., March 27, 2006 (PRIMEZONE) -- Gardy & Notis, LLP has filed a securities fraud class action lawsuit in the United States District Court for the Middle District of Florida on behalf of all purchasers of PainCare Holdings, Inc. (AMEX:PRZ) stock during a class period of August 27, 2002 to March 15, 2006.
Microsemi Corporation and Monolithic Power Systems, Inc. Settle Patent Litigation
IRVINE, Calif. and LOS GATOS, Calif., March 27, 2006 (PRIMEZONE) -- Microsemi Corporation ("Microsemi") (Nasdaq:MSCC) and Monolithic Power Systems, Inc. ("MPS") (Nasdaq:MPWRE) announced today that they have reached an amicable settlement of the patent infringement lawsuit brought by Microsemi in the United States District Court for the Central District of California. The action related to display lamp driver technologies used to illuminate electronic displays found in laptop and personal computers, automotive displays, and LCD TVs, as well as other liquid crystal display ("LCD") applications.