latest news releases from the newsroom
Scott+Scott, LLP Files Class Action Lawsuit Against TOP Tankers, Inc. on Behalf of Investors -- TOPT
COLCHESTER, Conn., Dec. 28, 2006 (PRIME NEWSWIRE) -- On December 28, 2006, Scott+Scott, LLP, filed a class action against TOP Tankers, Inc. ("TOP Tankers" or the "Company") (Nasdaq:TOPT) and certain officers in the U.S. District Court for the Southern District of New York. The action is on behalf of TOP Tankers securities purchasers during the period November 2, 2004, through November 28, 2006, inclusive (the "Class Period"), for violations of the Securities Exchange Act of 1934. The complaint alleges that defendants made false and misleading statements and material omissions regarding the Company's financial statements. As a result, the price of the Company's securities was inflated during the Class Period, thereby harming investors.
SoftNet Technology Corp.
SoftNet Technology Reviews Exceptional 2006, Optimism for 2007
ISELIN, N.J., Dec. 28, 2006 (PRIME NEWSWIRE) -- SoftNet Technology Corp. (OTCBB:STTC) (German WKN:A0B7RZ). SoftNet Technology has completed a major transition and is nearing the end of an exceptional year. While the final results are not available for the 2006, it has been an exceptional year in terms of expansion of operations and strategic positioning for the Company providing for an increased level of stability heading into 2007.
Sichenzia Ross Friedman Ference LLP
Gregory Sichenzia Featured in Wall St. Journal Article on PIPES Financing
NEW YORK, Dec. 28, 2006 (PRIME NEWSWIRE) -- Gregory Sichenzia, founding member of the law firm Sichenzia Ross Friedman Ference LLP (SRFF) was featured in a December 27, 2006 Wall St. Journal article that discussed current issues in PIPES financing. Also featured in the article was Advanced BioPhotonics, Inc. ("OTCBB ABPH"), a client of SRFF who has used PIPES (Private Investment in Public Equity) transactions to finance its operations in developing a cancer detection device. The company has had difficulty getting its registration statement which registers the shares of Common Stock underlying the PIPE declared effective by the SEC due to the SEC's recent interpretation of primary and secondary offerings pursuant to Rule 415. PIPE transactions have become the primary and often exclusive vehicles for funding small to mid sized public companies allowing expeditious access to capital from sophisticated investors.
Encysive Pharmaceuticals Inc.
FDA Accepts Encysive's Complete Response to THELIN New Drug Application
HOUSTON, Dec. 28, 2006 (PRIME NEWSWIRE) -- Encysive Pharmaceuticals (Nasdaq:ENCY) today announced that the U.S. Food and Drug Administration (FDA) has accepted for review the Company's complete response to the July 24, 2006 approvable letter regarding its New Drug Application (NDA) for THELIN(tm) (sitaxsentan sodium) 100 mg tablets. The FDA has designated the review as a Class 2 resubmission and issued a new Prescription Drug User Fee Act (PDUFA) target action date of June 15, 2007.
Southern Home Medical Equipment, Inc.
Southern Home Medical Signs Letter of Intent to Purchase Apnea RX, Inc.
SPARTANBURG, S.C., Dec. 28, 2006 (PRIME NEWSWIRE) -- Southern Home Medical Equipment, Inc. (Pink Sheets:SHMM) announced today the signing of a letter of intent to purchase Apnea RX, Inc. Apnea RX in a durable medical equipment company located in Clemson, S.C. Apnea RX focuses primarily on the sleep market with a secondary focus on respiratory. Based on revenues currently being generated, Apnea RX is projected to finish 2007 with approximate revenues of $600,000.00. Greg Tucker, President of Southern Home Medical stated, "We look forward to the Apnea RX team joining us. The sleep market is an interesting segment of the industry. Eighty to 90 percent of adults with clinically significant sleep disordered breathing remain undiagnosed. Apnea RX is poised to play a significant role in helping those with sleep related issues."