latest news releases from the newsroom
MicroIslet Completes $3.9 Million Private Placement
SAN DIEGO, July 27, 2006 (PRIMEZONE) -- MicroIslet, Inc. (AMEX:MII) announced today that it has entered into agreements for the sale of common stock for gross proceeds of approximately $3.9 million. The purchasers include new and existing institutional and other accredited investors. The company has agreed to sell an aggregate of approximately 2.6 million shares and to issue to the investors five-year warrants to purchase an aggregate of approximately 1.4 million shares. The company has agreed to file a registration statement covering the resale of the shares issued in this offering and the shares issuable upon exercise of the warrants. The offering is expected to close on or about July 31, 2006.
Home BancShares, Inc.
Home BancShares, Inc. Announces Underwriters Exercise Over-Allotment
CONWAY, Ark., July 27, 2006 (PRIMEZONE) -- Home BancShares, Inc. (Nasdaq:HOMB) today announced the underwriter's of the Company's recently completed initial public offering have exercised and completed their option to purchase an additional 375,000 shares of common stock to cover over-allotments effective Wednesday, July 26, 2006. The company received net proceeds of approximately $6.3 million from its sale of shares after deducting sales commissions. The company intends to use the proceeds of the offering for general corporate purposes, which may include, among other things, working capital needs and providing investments in bank subsidiaries. A portion of the net proceeds may be used to finance bank acquisitions, though no present plans exist.
Acura Pharmaceuticals Inc.
Acura Pharmaceuticals, Inc. Announces 2nd Quarter 2006 Financial Results and OxyADF Tablet Development Status
PALATINE, Ill., July 27, 2006 (PRIMEZONE) -- Acura Pharmaceuticals, Inc. (OTCBB:ACUR) today announced a net loss of $2.6 million or $0.01 per share for the quarter ending June 30, 2006 compared to a net loss of $1.4 million or $0.06 per share for the same period in 2005. Included in the 2006 and 2005 quarterly results is a non cash compensation charge of $1.3 million and $0.2 million, respectively, for stock compensation expense pertaining to the Company's issued and outstanding stock options and restricted stock units. For the six months ended June 30, 2006 the Company had a net loss of $6.8 million or $0.02 per share compared to a net loss of $3.3 million or $0.15 per share in 2005. Included in the 2006 and 2005 six month results is a non cash compensation charge of $4.0 million and $0.6 million, respectively, for stock compensation expense pertaining to the Company's issued and outstanding stock options and restricted stock units. The 2006 weighted average number of outstanding common shares reflect the conversion of all outstanding preferred shares into 305.4 million common shares during the fourth quarter of 2005. Highlights of the Company's consolidated balance sheets and statements of operations appear below. Detailed financial statements are included in the Company's Form 10-Q for the quarter ended June 30, 2006 filed with the Securities and Exchange Commission.
Riverview Bancorp, Inc.
Riverview Bancorp Declares Two for One Stock Split
VANCOUVER, Wash., July 27, 2006 (PRIMEZONE) -- Riverview Bancorp, Inc. (Nasdaq:RVSB) today announced that its Board of Directors has declared a two-for-one stock split in the form of a 100% stock dividend. The shares will be distributed on August 24, 2006, to shareholders of record as of August 10, 2006. Shareholders will receive one additional share of common stock for every share currently owned. Riverview has approximately 5.8 million shares outstanding, and will have about 11.6 million shares outstanding after the stock split.
An Honest Look at Labor Unions
FORT WRIGHT, Ky., July 27, 2006 (PRIMEZONE) -- No matter how much globalization could change the world, labor unions will keep fighting hard for their interests until the bitter end.