latest news releases from the newsroom
TeknoCreations Announces Certification for the PS3 InCharge
ALBUQUERQUE, N.M., Sept. 16, 2008 (GLOBE NEWSWIRE) -- AccessKey IP, Inc., (Pink Sheets:AKYI) the developer, designer and producer of advanced entertainment and communication devices, announced today that its consumer electronics subsidiary, TeknoCreations, has completed and received its final certification for its latest InCharge product for the Sony PS3. The InCharge is an inductive re-chargeable replacement charging system for gaming controllers. The device allows for simple and easy recharging without any contacts.
Cree LED Recessed Down Lights Win International Design Competition for Second Straight Year
DURHAM, N.C., Sept. 16, 2008 (GLOBE NEWSWIRE) -- Cree, Inc. (Nasdaq:CREE), a market leader in LED lighting, has again won the top prize for recessed down lights in the 2008 Lighting for Tomorrow solid-state lighting (SSL) competition. The complete Cree LED lighting family has now been recognized for superior efficacy and design by this contest, organized by the American Lighting Association, the U.S. Department of Energy (represented by Pacific Northwest National Laboratory) and the Consortium of Energy Efficiency.
Elite Pharmaceuticals, Inc.
Elite Announces Closing of Private Placement
NORTHVALE, N.J., Sept. 16, 2008 (GLOBE NEWSWIRE) -- On September 15, 2008, Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (AMEX:ELI) completed a private placement of $1,727,000 to a group of institutional and other private investors through the issuance of 1,727 shares of its Series D Preferred Stock, par value $0.01 per share (the "Series D Preferred Stock"), at a price of $1,000 per share, each share initially convertible at $0.20 into 5,000 shares of the Company's Common Stock, par value $0.01 per share (the "Common Stock"), or an aggregate of 8,635,000 shares of Common Stock. Each purchaser of Series D Preferred Stock also received a warrant to purchase shares of the Company's Common Stock. The warrants are exercisable on or before September 15, 2013 and represent the right to purchase an aggregate of 17,270,000 shares of Common Stock at an exercise price of $0.25 per share. The newly-created Series D Preferred Stock is senior to the Company's Series B Preferred Stock and/or Series C Preferred Stock (collectively, the "Existing Preferred Stock").