latest news releases from the newsroom
MySpace Founder Acquires Majority Stake in Leading Video Search Engine Flurl.com
LOS ANGELES, Oct. 26, 2006 (PRIMEZONE) -- Brad Greenspan, the founder of MySpace has acquired a majority stake in Flurl.com, the largest independent video search website which indexes over 1000 online video sites. Flurl.com is one of the first major acquisitions for LiveUniverse, a company established by Greenspan to focus on video, entertainment and social networking properties. With this acquisition, LiveUniverse intends to begin discussions with potential strategic, financial, and content partners focused in the online video space.
OXIS International, Inc.
OXIS International, Inc. Raises $1.7 Million in Private Placement
FOSTER CITY, Calif., Oct. 26, 2006 (PRIMEZONE) -- OXIS International, Inc. (OTCBB:OXIS) announced today that it completed a private placement of secured convertible debentures and warrants to institutional and accredited investors resulting in total gross proceeds of approximately $1.7 million. Bristol Investment Fund, Ltd. acted as lead investor in the financing.
Ocwen Financial Corp.
Ocwen Financial Corporation Announces Third Quarter 2006 Net Income
WEST PALM BEACH, Fla., Oct. 26, 2006 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN) today reported net income of $17.0 million or $0.27 per share for the third quarter of 2006. This compares to $7.9 million or $0.13 per share for the third quarter of 2005. For the nine months ended September 30, 2006, net income was $192.6 million or $3.06 per share as compared to $13.2 million or $0.21 per share for the same period in 2005. Pre-tax income in the third quarter of 2006 was $26.4 million as compared to $10.2 million in the third quarter of 2005. For the nine months ended September 30, 2006, pre-tax income was $65.2 million as compared to $18.3 million in the comparable period of 2005. Year to date results in 2006 include a tax benefit of $127.4 million, primarily reflecting the second quarter reversal of $145.2 million of the valuation allowance that had been established in prior years.
Discovery Laboratories, Inc.
Discovery Labs Restructures Loan Arrangement With Quintiles
WARRINGTON, Pa., Oct. 26, 2006 (PRIMEZONE) -- Discovery Laboratories, Inc. (Nasdaq:DSCO), today announced the restructuring of its $8.5 million loan with PharmaBio Development, Inc., the strategic partnering group of Quintiles Transnational Corp. (Quintiles). Payment of the $8.5 million loan principal that was originally due December 31, 2006, has now been extended as a lump sum payment due on April 30, 2010.