plus 4, Reed's, Inc. Issues Reminder of Expiration of Rights Offering - Stockhouse |
- Reed's, Inc. Issues Reminder of Expiration of Rights Offering - Stockhouse
- Crystallographer faked data - Scientist
- Santander to hire 200 to bulk up its ‘skinny’ wholesale bank - Daily Business Review
- FirstMerit Closes on Asset-Based Loan Acquisition - Biloxi Sun Herald
- Bancorp of New Jersey, Inc. Announces Special $0.30 Cash Dividend - Stockhouse
| Reed's, Inc. Issues Reminder of Expiration of Rights Offering - Stockhouse Posted: 18 Dec 2009 08:56 AM PST LOS ANGELES, CA, Dec 18, 2009 (MARKETWIRE via COMTEX News Network) -- Reed's, Inc. (NASDAQ: REED) (NASDAQ: REEDR), maker of the top-selling sodas in natural foods stores nationwide, issued a reminder today that its previously announced rights offering will expire at 5:00 p.m., Eastern Standard Time, on Monday, December 21, 2009, unless extended. The Company distributed to holders of its common stock as of the close of business on November 13, 2009, transferable subscription rights to purchase an aggregate of 225,000 shares of Series B Convertible Preferred Stock at a subscription price of $10.00 per share. Shareholders were issued 1 transferable right for each share of common stock held on record date. Each four (4) subscription rights will entitle the holder thereof to purchase one share of common stock at the subscription price of $10.00 per share and carries with it a basic subscription privilege and an over-subscription privilege. The rights offering expires at 5:00 p.m., Eastern Standard Time, on December 21, 2009, unless extended. The Company also reminds shareholders that on December 4, 2009, the terms of the Series B Preferred Stock were amended, and each share of Series B Preferred will be convertible into shares of our common stock at a conversion ratio of seven (7) shares of common stock for each share of Series B Preferred held at the time of conversion, representing an initial conversion price of $1.43 per share, which is subject to adjustment. The Company intends to offer any shares of Series B Preferred that remain unsubscribed (after taking into account all oversubscription rights exercised) at the expiration of the rights offering to the public at $10.00 per share of Series B Preferred. If you are a beneficial owner of shares of our common stock whose shares are registered in the name of a broker, custodian bank, or other nominee and wish to participate in the rights offering, you must instruct your broker, custodian bank or other nominee to exercise your rights and deliver all documents and payment on your behalf. Your broker, custodian bank or other nominee will instruct you as to the steps required to exercise your rights and may require you to act before the expiration of the rights offering in order to timely submit payment and other documents on your behalf. Your subscription rights will not be considered exercised unless the subscription agent receives from your broker, custodian, or nominee, as the case may be, all of the required documents and your full subscription price payment before the expiration of the rights offering. Holders of record must complete the appropriate subscription rights certificates and submit them directly to the subscription agent with the proper payment. Shareholders needing assistance in participating in the rights offering should contact MacKenzie Partners, the Information Agent for the Company at 800-322-2885 (toll-free) or (212) 929-5500 (call collect). About Reed's, Inc. Reed's, Inc. makes the top selling sodas in natural food markets nationwide and is currently selling in 10,500 supermarkets in natural foods and mainstream. Its six award-winning non-alcoholic Ginger Brews are unique in the beverage industry, being brewed, not manufactured and using fresh ginger, spices and fruits in a brewing process that predates commercial soft drinks. In addition, the Company owns the top selling root beer line in natural foods, the Virgil's Root Beer product line, and the top selling cola line in natural foods, the China Cola product line. Recently, Reed's added the Sonoma Sparkler brands to its line, a celebration drink with an established customer base. Other product lines include: Reed's Ginger Candies and Reed's Ginger Ice Creams. Reed's products are sold through specialty gourmet and natural food stores, mainstream supermarket chains, retail stores and restaurants nationwide, and in Canada. For more information about Reed's, please visit the company's website at: http://www.reedsgingerbrew.com or call 800-99-REEDS. Follow Reed's on Twitter at: http://www.twitter.com/reedsgingerbrew Reed's Facebook Fan Page at: http://www.facebook.com/pages/Reeds-Ginger-Brew-and-Virgils-Natural-Sodas/57143529039?ref=nf Subscribe to Reed's RSS feed at: http://www.irthcommunications.com/REED_rss.xml More information can be found at: http://www.irthcommunications.com/clients_REED.php SAFE HARBOR STATEMENT Some portions of this press release, particularly those describing Reed's goals and strategies, contain "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe future plans, objectives or goals are also forward-looking statements. While Reed's is working to achieve those goals and strategies, actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These risks and uncertainties include difficulty in marketing its products and services, maintaining and protecting brand recognition, the need for significant capital, dependence on third party distributors, dependence on third party brewers, increasing costs of fuel and freight, protection of intellectual property, competition and other factors, any of which could have an adverse effect on the business plans of Reed's, its reputation in the industry or its expected financial return from operations and results of operations. In light of significant risks and uncertainties inherent in forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by Reed's that they will achieve such forward-looking statements. For further details and a discussion of these and other risks and uncertainties, please see our most recent reports on Form 10-KSB and Form 10-Q, as filed with the Securities and Exchange Commission, as they may be amended from time to time. Reed's undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
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| Crystallographer faked data - Scientist Posted: 18 Dec 2009 07:44 AM PST A protein researcher at the University of Alabama at Birmingham (UAB) has been found guilty of falsifying data that he used to construct 12 fraudulent protein structures that made it into the scientific literature and an international archive of protein structures. After investigating the misconduct -- with the help of a committee of independent protein scientists -- the university has asked that the structures be removed from the database and that ten research papers, authored by former UAB researcher H.M. Krishna Murthy over the past decade, be retracted from the literature. "What we know is that when Dr. Murthy was asked to provide the data behind the structures, there was not sufficient material presented to allow the expert panel to determine the source of the error," Richard Marchase, UAB's vice president for research and economic development, told The Scientist. The UAB investigation concluded that the structures Murthy proposed violated basic physical and chemical laws, making their existence virtually impossible. "There were just many aspects of the proposed structures that didn't appear to be at all plausible given the physical laws of how proteins come together," added Marchase, who is also UAB's scientific integrity officer. "I think [Murthy] deserves tarring and feathering," Gert Vriend, a bioinformatician at Radboud University Nijmegen Medical Centre in The Netherlands, told The Scientist. Murthy, whose UAB contract at the school's Center for Biophysical Sciences and Engineering expired in February of this year with the university opting not to renew it, "has always denied any misconduct," according to Marchase. Murthy could not be reached for comment by email, and UAB is unaware of his current whereabouts. According to Marchase, the university informed the Office of Research Integrity (ORI) of the U.S. Department of Health & Human Services that UAB was investigating Murthy's suspect structures, and presumably the ORI will now initiate their own investigation of Murthy. But the agency is not talking about the Murthy case yet. "We can neither confirm nor deny that we have such a case," wrote an ORI spokesperson in an email to The Scientist. Murthy apparently won several grants from the National Institutes of Health prior to leaving UAB. On the NIH's database of granting information, Murthy is listed as the principal investigator on five research grants from the NIH's National Center for Research Resources, awarded in the 2009 fiscal year for a total of $487,592. Murthy's fraud was uncovered when European crystallographers who were working on some of the same structures that Murthy was claiming to solve raised red flags. Piet Gros, a crystallographer at Utrecht University in The Netherlands, was alerted to potential problems with Murthy's structures by one of his grad students. Gros's lab published a structure for the immune protein C3b in a 2006 issue of Nature. Along with the Gros group's paper, two other papers on the structure of C3b were published in the issue. One was from Murthy's group at UAB and the other from researchers at the biotech company Genentech. "We noticed quite quickly that there was a problem with the crystal lattice in the Murthy structure," Gros told The Scientist. "There were huge gaps between layers of molecules. That was a huge red flag." Gros said that he contacted Murthy about the abnormalities, but the UAB researcher brushed aside his concerns. "Basically we were not satisfied with his answers to the questions," Gros said. "He could not give an explanation to us." Gros and his colleagues began looking into more of Murthy's structures and noticing other "abnormal features." After unsuccessfully trying to get answers from Murthy, they had independent colleagues, including Vriend, analyze the structures and wrote a letter to Nature and to UAB detailing their findings. Using sophisticated validation software, Gros and his colleagues uncovered several problems with more of Murthy structures. There were unexplained gaps in the packing pattern of amino acids in the structures and contacts between atoms that were unrealistic, and "there was no solvent in the data," according to Gros. "There are things which are physically impossible," he said. Though the problems with Murthy's data seem glaring, uncovering the fraud required intricate analysis by protein experts. "The structure [of C3b] was strange, but it did require an expert to read from the numbers that something was worrisome," said Vriend. Murthy was able to publish fraudulent data on 12 protein structure over the span of 10 years in several different journals, such as Nature, Proceedings of the National Academy of Science, Biochemistry, and Cell. At the beginning of this month, the Journal of Biological Chemistry (JBC) retracted one paper that Murthy published in 1999 on the structure of a domain in the dengue virus. According to Marchase, "Another journal is likely to retract but has not yet," but he declined to say which one. Officials at the Protein Data Bank (PDB), which archives thousands of protein crystal structures from the literature, have removed the structure (dengue virus NS3 serine protease) reported in the JBC paper from its database, and "will make the remaining 11 entries obsolete if and when the corresponding papers are retracted," according to a PDB statement. Vriend and Gros said that one good thing to come out of the Murthy fraud case is that journals and the protein structure archives are rethinking the process whereby they validate submitted crystal structures. "This appears to be an extremely rare case," Gros said. "But the [validation] process has to be improved. People are discussing processes of doing this better, and I think that will happen, and it's a good thing." Vriend agreed, adding that the analysis of Murthy's fraud demonstrated the importance of carefully validating proposed crystal structures for proteins. "Protein structures are so important for so many fields in science that they must be right."
[12th January 2009]Structure hints at Ebola's cunning [9th July 2008]Former UPenn postdoc faked images [7th August 2007] Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Santander to hire 200 to bulk up its ‘skinny’ wholesale bank - Daily Business Review Posted: 18 Dec 2009 08:34 AM PST
Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| FirstMerit Closes on Asset-Based Loan Acquisition - Biloxi Sun Herald Posted: 18 Dec 2009 08:13 AM PST '+'>'); } --> AKRON, Ohio, Dec. 18 /PRNewswire-FirstCall/ -- FirstMerit Corporation (Nasdaq: FMER) announced the closing of its November 11, 2009, acquisition of the Midwest asset-based loan (ABL) business from an affiliate of St. Louis-based First Bank. FirstMerit also acquired the staff to service those loans and build new business. FirstMerit now has ABL offices in Akron, Cleveland, Cincinnati, Chicago and St. Louis. "With a five-city platform for our ABL business, known as FirstMerit Bank Business Credit, we now have significant scale and market presence to grow that business throughout the Midwest," said Doug Winget, head of ABL lending. FirstMerit's enhanced ABL capabilities add depth to the company's wide range of commercial lending products and services. "In this economy, having a world-class asset-based lending platform further complements our existing financial solutions to small- and medium-size business customers," said Winget. Also in November, FirstMerit signed a definitive purchase and assumption agreement to acquire approximately $1.2 billion of deposits and 24 Chicago-area branches from First Bank. This acquisition is subject to regulatory approval and is expected to close in the first quarter of 2010. About FirstMerit FirstMerit Corporation is a diversified financial services company headquartered in Akron, Ohio, with assets of $10.8 billion as of September 30, 2009 and 156 banking offices and 179 ATMs in 25 Ohio and Western Pennsylvania counties. FirstMerit provides a complete range of banking and other financial services to consumers and businesses through its core operations. Principal wholly-owned subsidiaries include: FirstMerit Bank, N.A., FirstMerit Mortgage Corporation, FirstMerit Title Agency, Ltd., and FirstMerit Community Development Corporation.
SOURCE FirstMerit Corporation Showing:  Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Bancorp of New Jersey, Inc. Announces Special $0.30 Cash Dividend - Stockhouse Posted: 18 Dec 2009 07:58 AM PST FORT LEE, N.J., Dec 18, 2009 (GlobeNewswire via COMTEX News Network) -- Bancorp of New Jersey, Inc. (NYSE Amex:BKJ), the bank holding company for Bank of New Jersey, today announced a special cash dividend in the amount of $0.30 per share to holders of record as of January 4, 2010. This special cash dividend will be paid on January 15, 2010 and is not considered to be a recurring payment. The special cash dividend is the first cash dividend paid by the Company, and follows the Company's 10% stock distribution in January 2007, and the 2:1 stock split in December 2007. Albert F. Buzzetti, Chairman and CEO, stated, "Our board of directors believes the Company and the Bank have had exceptional performance. We believe the Company's performance and these dividends are reflective of our commitment to enhanced shareholder value." For more information about Bank of New Jersey and its products and services, please visit http://www.bonj.net or call 201 944-8600 This news release was distributed by GlobeNewswire, www.globenewswire.com SOURCE: Bancorp of New Jersey, Inc. CONTACT: Bancorp of New Jersey, Inc. Connie Caltabellatta 201-944-8600 (C) Copyright 2009 GlobeNewswire, Inc. All rights reserved.Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.  This posting includes an audio/video/photo media file: Download Now |
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