latest news releases from the newsroom
Manhattan Pharmaceuticals, Inc.
Manhattan Receives Notification from AMEX of Non-Compliance of Certain Listing Standards
NEW YORK, Jan. 12, 2007 (PRIME NEWSWIRE) -- Manhattan Pharmaceuticals, Inc. (AMEX:MHA) previously reported in its Form 10-QSB for the quarter ended September 30, 2006 that at September 30, 2006, the company did not meet one of the American Stock Exchange's continued listing standards because its stockholder's equity was less than $4,000,000 and its market capitalization was less than $50,000,000, and that when a company falls below these standards, AMEX will issue a letter to the listed company noting that the listed company has failed to maintain its continued listing standards. The listed company will have an opportunity to submit a plan to AMEX outlining how it intends to regain compliance with its deficiency. If AMEX accepts the plan, the listed company may be allowed up to eighteen months to regain compliance with respect to its deficiency; however, if the company does not regain compliance, then the AMEX will initiate delisting proceedings.
Homeland Safety International, Inc.
Homeland Safety International Announces Majority Purchase of PLC Marketing
IRVING, Texas, Jan. 12, 2007 (PRIME NEWSWIRE) -- Homeland Safety International, Inc (Pink Sheets:HSFI) today announced the acquisition of the majority interest in PLC Marketing (PLC), a new corporation whose focus will be to sell chemical products for mold eradication as well as anti-bacterial products for consumers. Homeland Safety gave an undisclosed number of shares and an interest in its existing selling agreement for the chemical products in return for the 51% interest it received in PLC. Homeland had previously acquired selling rights to the products from JYMRSA, INC. who owns exclusive selling rights to their products. PLC will be given marketing rights to these products for the consumer market while Homeland continues to focus on selling the chemical products to its primary markets of government and security agencies around the world. Other private investors have made binding commitments to provide PLC with the funding necessary to launch its consumer marketing campaigns in the U.S.
Genesis Lease Limited
Genesis Lease Limited Announces Exercise of Over-Allotment Option by Underwriters
LIMERICK, Ireland, Jan. 12, 2007 (PRIME NEWSWIRE) -- Genesis Lease Limited (NYSE:GLS) today announced that the underwriters of its recent initial public offering exercised in full their over-allotment option to purchase from Genesis an additional 4,179,000 common shares in the form of American Depositary Receipts ("ADRs") at a price of $23.00 per ADR before deducting underwriters' discounts and commissions. An affiliate of General Electric Company ("GE") has previously agreed to purchase a number of ADRs from Genesis concurrently with the closing of the exercise of the over-allotment option at a price of $23.00 per ADR such that GE will continue to hold approximately 11% of the issued and outstanding ADRs following the exercise of the over-allotment option and purchase of shares by GE. The closing of the exercise of the underwriters' over-allotment option and the purchase of additional ADRs by GE is expected to occur on January 16, 2007.