Proteonomix, Inc. (OTC.BB:PROT), a biotechnology company focused on developing therapeutics based upon human cells and their derivatives, announced further developments with its Joint Venture Company, XGEN Medical LLC (�XGen�) towards implementing operations in the United Arab Emirates (U.A.E.).
Proteonomix is the majority shareholder in XGen with the balance held by an anonymous investor group. Proteonomix personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting Proteonomix personnel on Jumeira 2.
During initial meetings, it was mutually decided to open a local subsidiary corporation in the Dubai free zone. This wholly owned subsidiary will be the vehicle to conduct business in the GCC countries. XGen has filed the corporate papers and has established banking relations with a local bank both for receipt of the initial investment of $5 million and towards further financing expanded services in the region. The Ramadan holiday has slowed progress slightly on these corporate formalities, but full operation of the subsidiary and bank accounts are expected to complete within 30 days.
It was further announced that XGen has expanded its talks within the region beyond a license for manufacture of and treatment with Proteonomix cellular material. Discussions are now further encompassing both the construction of XGen�s own manufacturing and treatment facility within the U.A.E. and on funding phased trials for one or more of Proteonomix�s proprietary cellular materials for treatment of disease.
EVCARCO (OTC.BB:EVCA) is pioneering a new way to meet the demands of 21st century car buyers. EVCARCO is bringing to market eco-friendly vehicles with an emphasis on performance and affordability and the latest in developed technology. The board of EVCARCO is pleased to announce that, pursuant to a strong demand from the US Federal Government to meet environmental standards in relation to its Federal Military fleet, EVCARCO will be working with VENTA Inc. and several third party organizations to create Military grade AEV and Hybrid Diesel Electric units.
Scott O’Neal, Chief Operation Officer, stated, “We feel that working in conjunction with our corporate sales and commercial fleet division, the addition of a high revenue entity aimed at Military contracting is a significant move for EVCARCO and the corporate vision.”
EVCARCO has been working on projects with the US Federal Government as announced in previous releases since first quarter of 2010; the trials have given the management of EVCARCO insight into the needs and requirements of the Federal Government and, with this knowledge, the corporation stands at a significant advantage in respect to sourcing specific AEV and Hybrid Units for the Military.
EVCARCO is the first automotive retail group dedicated to deploying a coast-to-coast network of eco-friendly dealerships and vehicles. EVCARCO is bringing to market the most advanced clean technologies available in plug-in electric and alternative fuel vehicles. EVCARCO has developed a franchised dealer network allowing growth into most US States by 2012.
Ocean Shore Holding Co. (Nasdaq: OSHC) has funded a trust that will purchase up to 141,306 shares, or approximately 1.9%, of the Company’s outstanding common stock. The shares acquired by the trust will be used to fund restricted stock awards under the Company�s 2010 Equity Incentive Plan, which was recently approved by shareholders. Share purchases will be conducted by the independent trustee of the trust through open market purchases.
Ocean Shore Holding Co. is the holding company for Ocean City Home Bank, which operates out of ten full-service banking offices in Ocean City, Marmora, Linwood, Ventnor, Egg Harbor Township, Absecon, Northfield, Margate City, Mays Landing and Galloway, New Jersey.
Oceaneering International, Inc. (NYSE: OII) has, through its wholly-owned subsidiary, Grayloc Products Canada, Ltd., acquired all the operating assets of SMX International Canada Inc. (SMX). Located near Toronto, SMX is a manufacturer of metal-to-metal seal clamp connectors, check valves, and universal ball joints. The company markets worldwide with its primary customer base in Canada. For fiscal year ending March 31, 2010, SMX had revenues of $15 million.
T. Jay Collins, President and Chief Executive Officer, stated, “This acquisition complements our Grayloc Products business, which we acquired in 2005 and has proven to be a very successful investment. It’s a great niche market for high pressure, high temperature, metal-to-metal seal connectors. This acquisition gets us closer to the oil sands market where the clamps are used extensively in the production processing.”
Oceaneering is a global oilfield provider of engineered services and products primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology expertise, Oceaneering also serves the defense and aerospace industries.
OceanFirst Financial Corp. (Nasdaq:OCFC), the holding company for OceanFirst Bank, reports the appointment of Steven J. Tsimbinos as First Senior Vice President, General Counsel and Corporate Secretary.
In addition to his responsibilities as Corporate Secretary, Mr. Tsimbinos will serve as General Counsel, managing the Bank’s Legal Department. He reports to President and COO Vito R. Nardelli. Mr. Tsimbinos is a member of the New Jersey and New York Bar Associations and most recently held the positions of General Counsel and Chief Compliance Officer for Copper River Management, L.P. in Holmdel, New Jersey. Previously, Mr. Tsimbinos was a partner in the law firm Lowenstein Sandler PC in Roseland, New Jersey and began his legal career with Thatcher Proffitt & Wood in New York. He is a graduate of Boston University School of Law and Skidmore College.
OceanFirst Financial Corp’s subsidiary, OceanFirst Bank, founded in 1902, is a federally-chartered stock savings bank with $2.2 billion in assets and twenty-three branches located in Ocean, Monmouth and Middlesex Counties, New Jersey. The Bank is the largest and oldest community-based financial institution headquartered in Ocean County, New Jersey.
No comments:
Post a Comment