IRG, LLC

Applied DNA Sciences to Host Conference Call Wednesday, August 15, 2012

admin — Thu, 09 Aug 2012 13:53:22 +0000

Applied DNA Sciences, Inc. (APDN), a provider of DNA-based security and anti-counterfeiting technology and product authentication solutions, will host a conference call on Wednesday, August 15, 2012 to discuss its most recent quarterly earnings.

Applied DNA Sciences, Inc. management will host a thirty-minute conference call beginning at 9:00 a.m. eastern daylight time on Wednesday, August 15, 2012 to discuss the company's performance and outline key ongoing and future business initiatives. A presentation by CEO and President James Hayward will be followed by a question-and-answer session.

All participants must pre-register using the link below. It is suggested that you log into the conference call approximately 10 minutes prior to the scheduled start time to ensure that all participants are on-line at the start of the call. While callers cannot be heard during the call, questions may be emailed beforehand or sent online using SMS messaging during the session (see below for details).

For those of you unable to participate, a transcript of the call will be posted by end of business on August 15, and available under the "Investors" tab of the company's web site.

To Participate:
Reserve your spot now at: https://www3.gotomeeting.com/register/623850862

To Send Questions Prior to or During the Call:
Please email questions prior to the call to investor@adnas.com.
During the conference call, questions can be sent online using SMS messaging once you are registered as a participant.

Due to the large number of expected participants, not all questions may be answered on the call.

Company Background Materials:
You may be interested in the company's Investor Information section on the company's web site, including publications, recent press releases, blogs, and other materials.

About APDN
APDN is a provider of botanical-DNA based security and authentication solutions that can help protect products, brands and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. SigNature® DNA and smartDNA, our principal anti-counterfeiting and product authentication solutions that essentially cannot be copied, provide a forensic chain of evidence and can be used to prosecute perpetrators.

The statements made by APDN may be forward-looking in nature. Forward-looking statements describe APDN's future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of APDN. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in APDN's SEC reports and filings, including our Annual Report on Form 10-K, filed on December 8, 2011 and our subsequent quarterly reports on Form 10-Q. APDN undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

AL International Announces Successful Completion of Financial Statement Audit

admin — Tue, 07 Aug 2012 19:24:47 +0000

Independent Audit Conducted for the Two Years Ended December 31, 2011 and 2010

AL International (Pink Sheets: JCOF) (www.alintjcof.com), a global direct marketer of lifestyle and nutritional products and gourmet fortified coffee, announced the successful completion of the audit of its financial statements for the two years ended December 31, 2011 and 2010. The audit was performed by an independent CPA firm registered with the PCAOB (Public Company Accounting Oversight Board). The completed audit report can be viewed at www.pinksheets.com.

The audited financial statements include the operating results and financial position of the Company and its wholly owned subsidiaries AL Global Corporation, CLR Roasters LLC, Financial Destination, Inc., FDI Management, Inc., MoneyTrax, LLC, Youngevity Australia Pty. Ltd. and Youngevity NZ Ltd. The audit also covers the Company’s non-controlling interest in AL Corporation Holding Pte. Ltd. and DrinkAct Southeast Asia, Inc.

As of December 31, 2011, the Company’s audited Consolidated Balance Sheet reported total stockholders’ equity of approximately $9,078,000, an increase of approximately $2,005,000 as compared to the Company’s previously announced unaudited statements. The improvement resulted principally from a number of adjustments to the balance sheet, with most of the positive impact resulting from changes to the Company’s accounting for acquisitions.

For the year ended December 31, 2011, the Company’s audited Statement of Operations reported revenues of approximately $40,670,000, an improvement of approximately $438,000 compared to the unaudited statements. The audited Statement of Operations reported a net loss of approximately $152,195,000, a decrease of approximately $153,887,000 when compared to the unaudited statements. This decrease resulted principally from the recording of a non-cash charge for impairment of goodwill of approximately $151,798,000 (See below). The balance of the decrease resulted principally from changes to the recording of a one-time asset sale, and increases to non-cash amortization expense and interest expense related to changes to the recording of various acquisitions.

The Company recorded goodwill of approximately $156,952,000 during 2011 in connection with its various acquisitions. During the third quarter of 2011, the Company determined that goodwill recorded in connection with the reverse acquisition between Javalution Coffee Company and AL Global Corporation, substantially exceeded its implied fair value; therefore, the Company recorded an impairment loss of approximately $151,432,000. In addition, as of December 31, 2011, the Company determined that goodwill recorded in connection with the Company’s acquisition of Adaptogenix, substantially exceeded its implied fair value; therefore, the Company recorded an impairment of approximately $366,000. The total goodwill impairment recorded in 2011 was $151,798,000.

Mr. Dave Briskie, Chief Financial Officer of AL International, said, “We are pleased our audit has been successfully completed., The audited financial statements show tremendous growth experienced by the Company and its subsidiaries during the two-year period from the start of 2010 through the end of 2011. In conjunction with the audit’s completion, we intend to take the next steps to qualify for an up-listing from the Pink Sheets to the OTC Bulletin Board.”

About Youngevity® Essential Life Sciences

Youngevity Essential Life Sciences (www.youngevity.com), headquartered in San Diego, CA, is a nutrition and lifestyle-related services company dedicated to promoting vibrant health and flourishing economics. Founded in 1997 by Drs. Joel Wallach, DVM, ND, and Ma Lan, MD, as AL Global, Inc., the company adopted the name Youngevity in 2006. Youngevity is the only network marketing company to have a qualified FDA Health Claim. Dr. Wallach’s work has been published in more than 70 peer-reviewed and referenced scientific journals and books.

About AL International

AL International, Inc. (Pink Sheets: JCOF) (http://www.alintjcof.com) is a fast-growing, innovative, multi-dimensional company that offers a wide range of consumer products and services, primarily through person-to-person selling relationships that comprise a “network of networks.” The Company also is a vertically-integrated producer of the finest coffees for the commercial, retail and direct sales channels. AL International was formed after the merger of Youngevity Essential Life Sciences (http://www.youngevity.com) and Javalution Coffee Company in the summer of 2011.

Safe Harbor Statement

This release includes forward-looking statements on our current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements relating to d our efforts to take the next steps to qualify for an up-listing to the OTC Bulletin Board. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in our forward-looking statements include, among others, our ability to complete the balance of information required for a Form 10 registration statement filing with the Securities and Exchange Commission, including our unaudited quarterly financial statements for the quarters ended March 31 and June 30, 2012, respectively, to respond to any SEC staff comments to our filing and to obtain the approval of FINRA of a Form 15c2-11 application for an up-listing of our common stock to the OTC Bulletin Board. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release based on new information, future events, or otherwise, except as required by law.

Applied DNA Sciences Expands Plant and Personnel

admin — Tue, 07 Aug 2012 19:09:36 +0000

Applied DNA Sciences, Inc. (APDN) (Twitter: @APDN), a provider of DNA-based anti-counterfeiting technology and product authentication solutions, announced today that it has significantly expanded its office, production, and laboratory space and increased its personnel. The expansion reflects the company's continued worldwide growth in production capacity, technology advancement, and global customer support. Those factors are also seen in a steady rise in shipments of its DNA products, the core technology around which the company's authentication services are built.

The company's brick-and-mortar footprint has increased by well over 50% over the last year. The company has added nine positions in that time.

Dr. James A. Hayward, President and CEO of APDN, pointed out that the expansion has been driven in part by product shipments. "By the end of December, 2011, we recorded a substantial increase in our monthly shipments of DNA; as a result, our last two previously announced quarters were each record-setters. Incremental demand should be sustained as new opportunities are addressed."

Dr. Hayward concluded: "In addition to the current growth we are experiencing across the firm, our LMI-managed microchip project is leading the DOD's Defense Logistics Agency to seriously consider mandating SigNature® DNA for microcircuits. We are confident we can support a DOD mandate and continue to source additional candidates as this effort might expand.

"In addition, the initial responses to our new product lines, smartDNA® and digitalDNA™, have been encouraging. Our management team felt it appropriate to grow our resources at this time."

About Applied DNA Sciences

APDN is a provider of botanical-DNA based security and authentication solutions that can help protect products, brands and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. SigNature® DNA and smartDNA, our principal anti-counterfeiting and product authentication solutions that essentially cannot be copied, provide a forensic chain of evidence and can be used to prosecute perpetrators.

NeuroMetrix Receives 510(k) Clearance for SENSUS™ Pain Management Device

admin — Mon, 06 Aug 2012 18:47:05 +0000

NeuroMetrix, Inc. (NURO), www.neurometrix.com, a medical device company focused on the diagnosis and treatment of the neurological complications of diabetes, announced that it has received 510(k) clearance for its SENSUS Pain Management device from the U.S. Food and Drug Administration (FDA). This regulatory determination by the FDA gives NeuroMetrix clearance to market the SENSUS device in the U.S. market. The device is intended for use as a transcutaneous electrical nerve stimulator for the symptomatic relief and management of chronic intractable pain.

“This product has attracted attention among health care providers because of its potential benefit to patients suffering from chronic pain,” said Shai N. Gozani M.D., Ph.D., President and Chief Executive Officer of NeuroMetrix. “FDA clearance keeps us on track to launch the SENSUS Pain Management System in the fourth quarter of 2012. We are particularly enthusiastic about adoption of the device by diabetes focused clinicians because a number of recent systematic literature reviews and meta-analyses have concluded that transcutaneous electrical nerve stimulation may be an effective and safe treatment for painful diabetic neuropathy.”

About NeuroMetrix

NeuroMetrix is an innovative medical device company that develops and markets home use and point-of-care devices, associated consumables, and support software for the treatment and management of diabetes and its complications. The company is focused on nerve related complications of diabetes, called diabetic neuropathies, which affect over 50% of people with diabetes. If left untreated, diabetic neuropathies trigger foot ulcers that may require amputation, cause disabling chronic pain, and increase the risk of falling in the elderly. The annual cost of diabetic neuropathies has been estimated at $14 billion in the United States. The company’s products are used by physicians and other clinicians, in retail health settings such as pharmacies, and by managed care organizations to optimize patient care and reduce healthcare costs. The company markets the NC-stat^® DPNCheck^™ device, which is a rapid, accurate, and quantitative point-of-care test for diabetic neuropathy. This product is used to detect diabetic neuropathy at an early stage and to guide treatment. The company is in late stage development of SENSUS^™, a pain management device. The company has additional therapeutic products in its pipeline. For more information, please visithttp://www.neurometrix.com.

World Energy Solutions' Record Quarter Delivers 78% Top-Line Growth, EBITDA up 108%

admin — Thu, 02 Aug 2012 21:09:48 +0000

World Energy Solutions, Inc. (XWES), a leading energy management services firm, today announced financial results for the three and six months ended June 30, 2012.

Financial Highlights (All figures are in US dollars; comparisons of performance are made between Q2 2012 results and Q2 2011 results, unless otherwise noted.)

Record Revenue and Backlog

Quarterly revenue increased 78% to a record $8.2 million; 27% organic growth
Total backlog rose 60% to an all-time high $40.1 million
Annualized backlog increased 57% to a Company-best $21.7 million

Operating Results

EBITDA* grew 108% to $1.0 million
Adjusted EBITDA* was $1.1 million, up 65%
Net income was $0.1 million, or $0.01 per share

Liquidity and Balance Sheet

Cash and cash equivalents were $3.6 million, up from $1.8 million at year end

Product Line and Other Highlights

Strong execution across traditional Energy Procurement business:
- Won several new C&I and government contracts, including large county aggregations, industrial and institutional business
- Renewed key government accounts, including GSA Region 2, states of CT and MA, and a large Co-eXprise customer
- Brokered largest demand response deals in Company history, enrolling over 150 MW for large mining and data center operations
Growing traction in new product lines:
- Continued success in Mid-Market
  - Solid new business and renewals in TX; expanding in IL, OH and PA
- Strong growth in Energy Efficiency
  - Awarded new Municipal efficiency designation with NSTAR
  - Revenue increased 70% from Q1 2012
- Continued to invest in Mid-Market and Energy Efficiency teams to meet growing demand, fuel future growth

"World Energy has successfully followed its record Q1 financial performance with an even stronger second quarter," said Phil Adams, CEO of World Energy Solutions. "I am particularly pleased with the 27% organic growth we achieved in the quarter and the fact that net income would have been $0.05 per share absent the impact of non-recurring charges. Based on our impressive growth through the first half of the year and the strength of our pipeline, we are making an upward adjustment to our revenue growth forecast for 2012, from 40-60% to 60-70%."

Financial Review

Year-to-Date 2012

For the six months ended June 30, 2012, revenue increased by 69% to $16.2 million, primarily due to the Company's acquisitions completed in Q4 2011 and increased auction activity in our Retail product line. Revenue from the Company's Energy Procurement segment increased 47%, reflecting the addition of the energy procurement businesses of Co-eXprise and GSE and continued execution in the Company's base business. The Company's Energy Efficiency Services segment contributed 13% of year-to-date revenue, reflecting contributions from the NES acquisition and the Company's internal energy efficiency services group.

Energy Procurement margins remained strong at 83% compared to 80% in the same period last year, while Energy Efficiency Services margins were 27%. Energy Efficiency Services margins reflect equipment, material and direct labor costs associated with completed projects. Overall gross margin declined 5% compared to the first six-months of 2011, reflecting the change in product mix in the Company's business. Operating expenses as a percentage of sales decreased 4% to 71% as the Company continued to benefit from the operating leverage in its business model. As a result, the Company's operating margin was 4%, a 1% decrease from the first six-months of 2011 and EBITDA* margin was 14% compared to 11% last year. The increase in operating expenses includes non-recurring charges of $0.4 million related to severance, the relocation of the Company's corporate office and a channel partner advance. Excluding the non-recurring charges, operating and EBITDA* margins would have been 7% and 17%, respectively.

Q2 2012

Revenue for the three months ended June 30, 2012 rose 78% over the same period last year to $8.2 million, primarily due to the Company's acquisitions and increased auction activity in our Retail and Wholesale product lines. Revenue from the Company's Energy Procurement segment increased 49%, reflecting the addition of the energy procurement businesses of Co-eXprise and GSE and continued execution in the Company's base business. The Company's Energy Efficiency Services segment contributed 16% of Q2 2012 revenue, reflecting contributions from both NES and the Company's internal energy efficiency services group.

Energy Procurement margins remained strong at 83%, compared to 80% in the same period last year, while Energy Efficiency Services margins were 27%. Overall, gross margin declined 6% compared to the second quarter of 2011, reflecting the change in product mix in the Company's business. Operating expenses as a percentage of sales decreased 5% to 71% as the Company continued to benefit from the operating leverage in its business model. As a result, the Company's operating margin was 3% compared to 4% in the second quarter of 2011, and EBITDA* margin was 12% compared to 11% in the prior year quarter. The increase in operating expenses includes non-recurring charges of $0.4 million related to severance, the relocation of the Company's corporate office and a channel partner advance. Excluding these non-recurring charges, operating and EBITDA* margin would have been 8% and 17%, respectively.

At June 30, 2012, the Company had cash and cash equivalents of $3.6 million, compared with $2.4 million at March 31, 2012 and $1.8 million at December 31, 2011. The increase in cash and cash equivalents during the quarter was primarily due to cash generated by EBITDA* of $1.0 million. The Company has short-term commitments of $4.8 million related to its acquisitions, including Notes payable to sellers of $1.0 million due in the third quarter and $2.0 million due in the fourth quarter of 2012 and contingent consideration payments of $1.8 million due in the first quarter of 2013. The Company believes its operating cash flow will be adequate to meet these obligations when due. The Company has not borrowed against its $2.5 million line-of-credit and is in compliance with all covenants.

Note: Backlog relates to contracts in force on a given date representing transactions between bidders and listers on our platform related to commodity brokerage assuming listers consume energy at their historical usage levels or deliver credits at expected levels. Total backlog represents the revenue that the Company would derive over the remaining life of those contracts. Annualized backlog represents the revenue that the Company would derive from those contracts within the 12 months following the date on which the backlog is calculated. Total and annualized backlog at June 30, 2012 included commodity backlog of $39.2 million and $20.8 million, respectively. In addition, total and annualized backlog include contracted management fees between World Energy and energy consumers for energy management and auction administration services of $0.9 million that are expected to be received over the following 12-month period. These management fees can be terminated within 30 days per the terms of the contracts.

Conference Call & Webcast
World Energy will hold a conference call today, August 2, 2012, at 5:00 p.m. (ET) to discuss its financial results and other corporate developments. To access the conference call by telephone, dial 1 (888) 517-2458 (domestic) or 1 (847) 413-3538 (international) and enter passcode 7543 459#. A replay will be available two hours after the completion of the call, and for one week following the call, by dialing 1 (888) 843-7419 for domestic participants or 1 (630) 652-3042 for international participants, and entering passcode 7543 459# when prompted.

Participants may also access a live webcast of the conference call through the investor relations section of World Energy's website, www.worldenergy.com. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. An archived replay of the webcast will be available for 90 days.

Non-GAAP Financial Measures

World Energy continues to provide all information required in accordance with GAAP and also provides certain non-GAAP financial measures. A "non-GAAP financial measure" refers to a numerical measure of the Company's historical performance, financial position, or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable financial measure calculated and presented in accordance with GAAP in the Company's financial statements. World Energy provides EBITDA and adjusted EBITDA as additional information relating to our operating results. These non-GAAP measures exclude expenses related to share-based compensation, depreciation related to our fixed assets, amortization expenses associated with acquisition-related assets and capitalized software, net interest and income tax expense.

Management believes it is useful to exclude depreciation, amortization, net interest and income tax expense as these are essentially fixed amounts that cannot be influenced by management in the short term. In addition, management believes it is useful to exclude share-based compensation as this is not a cash expense.

Management uses these non-GAAP measures for internal reporting and bank reporting purposes. World Energy provides these non-GAAP financial measures in addition to GAAP financial results, because management believes that these non-GAAP financial measures provide useful information to certain investors and financial analysts in helping them to better understand the Company's operating results and underlying operational trends. They also provide a consistent basis for comparison across accounting periods.

These non-GAAP financial measures are not prepared in accordance with GAAP. These measures may differ from the GAAP information, even where similarly titled, used by other companies and therefore should not be used to compare the Company's performance to that of other companies. There are significant limitations associated with the use of non-GAAP financial measures. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income prepared in accordance with GAAP.

Whenever World Energy reports non-GAAP financial measures, a reconciliation of the non-GAAP financial measure to the most closely applicable GAAP financial measure will be made available. Investors are encouraged to review these reconciliations to ensure they have a thorough understanding of the reported non-GAAP financial measures and their most directly comparable GAAP financial measures. Reconciliation of GAAP net income to EBITDA and adjusted EBITDA is shown below:

About World Energy Solutions, Inc.
World Energy Solutions, Inc. (XWES) is an energy management services firm that brings together the passion, processes and technologies to take the complexity out of energy management and turn it into bottom-line impact for the businesses, institutions and governments we serve. To date, the Company has transacted more than $30 billion in energy, demand response and environmental commodities on behalf of its customers, creating more than $1 billion in value for them. World Energy is also a leader in the global carbon market, where its World Energy Exchange® supports the ground-breaking Regional Greenhouse Gas Initiative's (RGGI) cap and trade program for CO2 emissions. For more information, please visit www.worldenergy.com.

This press release contains forward-looking statements. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We have based these forward-looking statements on our current expectations and projections about future events, including without limitation, our expectations of backlog and energy prices. Although we believe that the expectations underlying any of our forward-looking statements are reasonable, these expectations may prove to be incorrect and all of these statements are subject to risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions, projections or expectations prove incorrect, actual results, performance or financial condition may vary materially and adversely from those anticipated, estimated or expected. Such risks and uncertainties include, but are not limited to the following: our revenue and backlog are dependent on actual future energy purchases pursuant to completed procurements; the demand for our services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; and there are factors outside our control that affect transaction volume in the electricity market. Additional risk factors are identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. The forward-looking statements made in this press release are made as at the date hereof. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, other than as required by securities laws.

Oncolytics Biotech® Inc. Announces Second Quarter 2012 Results

admin — Thu, 02 Aug 2012 13:39:40 +0000

Oncolytics Biotech Inc. (TSX:ONC, NASDAQ:ONCY) ("Oncolytics" or the "Company") today announced its financial results and operational highlights for the quarter ended June 30, 2012.

"Early in the quarter, we announced that we had completed enrollment in the first, 80-patient stage of our Phase III trial in head and neck cancers," said Dr. Brad Thompson, President and CEO of Oncolytics. "We continued to make progress on this key clinical initiative during the quarter with our independent Data Monitoring Committee recommending the trial proceed based on a review of the safety data. We continue to await the results of an ongoing data review which will enable us to determine the next steps for the study."

Selected Highlights

Since March 31, 2012, the Company has made a number of significant announcements:

Clinical Trial Program

Completion of enrollment in the first, 80-patient stage of its Phase III clinical trial examining REOLYSIN^® in combination with paclitaxel and carboplatin in patients with platinum-refractory head and neck cancers (REO 018);

Review by Company's independent Data Monitoring Committee (DMC) of the safety data for the first stage of the Company's Phase III trial in head and neck cancers and received a recommendation that enrollment continue in the study while awaiting the ongoing data review;

Entry into an agreement whereby the NCIC Clinical Trials Group (CTG) at Queen's University in Kingston, Ontario, will sponsor and conduct a randomized Phase II study of REOLYSIN in patients with advanced or metastatic colorectal cancer enrolling up to 100 patients;

Entry into an agreement whereby the NCIC CTG will sponsor and conduct a randomized Phase II study of REOLYSIN in patients with advanced or metastatic non-small cell lung cancer enrolling up to 150 patients;

Entry into an agreement whereby the NCIC CTG will sponsor and conduct a randomized Phase II study of REOLYSIN in patients with advanced or metastatic breast cancer enrolling up to 100 patients; and

Clinical Trial Results

Publication of a paper entitled "Cell Carriage, Delivery, and Selective Replication of an Oncolytic Virus in Tumor in Patients," in the June 13, 2012 issue of the journal Science Translational Medicine (Vol. 4 Issue 138 138ra77), covering findings from a U.K. translational clinical trial (REO 013) investigating intravenous administration of REOLYSIN in patients with metastatic colorectal cancer prior to surgical resection of liver metastases. The researchers found that intravenously-administered reovirus could specifically target and infect metastatic liver tumors in 90% of the patients, even though all patients treated had had a pre-existing immunity to the virus.

To view the Company's Second Quarter 2012 Consolidated Financial Statements, related Notes to Consolidated Financial Statements, and Management's Discussion and Analysis, please see the Company's quarterly filings which will be available onwww.sedar.com and on www.oncolyticsbiotech.com.

About Oncolytics Biotech Inc.
Oncolytics is a Calgary-based biotechnology company focused on the development of oncolytic viruses as potential cancer therapeutics. Oncolytics' clinical program includes a variety of human trials including a Phase III trial in head and neck cancers using REOLYSIN, its proprietary formulation of the human reovirus. For further information about Oncolytics, please visit:www.oncolyticsbiotech.com.

This press release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, including the Company's belief as to the potential of REOLYSIN as a cancer therapeutic; the Company's expectations as to the success of its research and development programs in 2012 and beyond, the Company's planned operations, the value of the additional patents and intellectual property; the Company's expectations related to the applications of the patented technology; the Company's expectations as to adequacy of its existing capital resources; the design, timing, success of planned clinical trial programs; and other statements related to anticipated developments in the Company's business and technologies involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development projects, the efficacy of REOLYSIN as a cancer treatment, the success and timely completion of clinical studies and trials, the Company's ability to successfully commercialize REOLYSIN, uncertainties related to the research and development of pharmaceuticals, uncertainties related to the regulatory process and general changes to the economic environment. Investors should consult the Company's quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned against placing undue reliance on forward-looking statements. The Company does not undertake to update these forward-looking statements, except as required by applicable laws.

HBIO Reports Second Quarter 2012 Revenue Growth of 5% Over Second Quarter 2011

admin — Thu, 02 Aug 2012 13:26:01 +0000

Harvard Bioscience, Inc. (HBIO), a global developer, manufacturer, and marketer of a broad range of tools to advance life science research and regenerative medicine, today reported unaudited financial highlights for the three and six months ended June 30, 2012.

Second Quarter Reported Results

Revenues for the three months ended June 30, 2012 were $28.5 million, an increase of $1.4 million, or 5.0% compared to revenues of $27.1 million for the three months ended June 30, 2011. Currency exchange rates had a negative 2.1% effect on revenues in the second quarter of 2012 compared with the second quarter of 2011. Our acquisitions of CMA Microdialysis AB ("CMA") in July 2011, AHN Biotechnologie GmbH ("AHN") in February 2012 and Modular SFC, Inc. ("Modular") in May 2012 had a positive 4.9% effect on revenues. Excluding the effects of currency changes and acquisitions, our organic revenue growth for the second quarter of 2012 was 2.2% over the same period in the previous year.

Net income, as measured under U.S. generally accepted accounting principles ("GAAP"), was $0.8 million, or $0.03 per diluted share for the three months ended June 30, 2012 compared to $1.4 million, or $0.05 per diluted share, for the same period in 2011. The unfavorable year-to-year quarterly GAAP earnings comparison was primarily due to increased spending in our development-stage Regenerative Medicine Device ("RMD") business.

On a non-GAAP adjusted basis, earnings per share for our core Life Science Research Tools ("LSRT") business for the second quarter of 2012 and 2011 were $0.10 per diluted share. Non-GAAP adjusted earnings per share for our RMD business for the second quarter of 2012 was a loss of $0.04 per diluted share, compared with a loss of $0.01 per diluted share for the second quarter of 2011, and reflected greater activities in developing this initiative. Our total non-GAAP adjusted earnings per share, reflecting LSRT and RMD combined, was $0.06 per diluted share for the second quarter of 2012 compared with $0.08 per diluted share for the second quarter of 2011.

Year to Date Reported Results

Revenues for the six months ended June 30, 2012 were $56.8 million, an increase of $3.4 million, or 6.3% compared to revenues of $53.5 million for the six months ended June 30, 2011. Currency exchange rates had a negative 1.6% effect on revenues in the first half of 2012 compared with the same period in the previous year. Our acquisitions of CMA in July 2011, AHN in February 2012 and Modular in May 2012 had a positive 4.7% effect on revenues. Excluding the effects of currency changes and acquisitions, our organic revenue growth for the first half of 2012 was 3.2% over the same period in the previous year.

Net income, as measured under GAAP, was $1.3 million, or $0.04 per diluted share for the six months ended June 30, 2012 compared to $3.0 million, or $0.10 per diluted share, for the same period in 2011. The unfavorable year-to-year quarterly GAAP earnings comparison was primarily due to increased spending in our development-stage RMD business.

On a non-GAAP adjusted basis, earnings per share for our core LSRT business for the six months ended June 30, 2012 was $0.20 per diluted share, compared with $0.18 per diluted share for the same period in 2011. Non-GAAP adjusted earnings per share for our RMD business for the six months ended June 30, 2012 was a loss of $0.07 per diluted share, compared with a loss of $0.03 per diluted share for the same period in 2011, and reflected greater activities in developing this initiative. Our total non-GAAP adjusted earnings per share, reflecting LSRT and RMD combined, were $0.13 per diluted share for six months ended June 30, 2012 compared with $0.16 per diluted share for the same period in 2011.

Commenting on the Company's performance, Chane Graziano, CEO, stated, "Despite a relatively soft global economy we ended the second quarter 2012 in our core LSRT business with revenues of $28.5 million and non-GAAP adjusted diluted earnings per share of 10 cents in line with our expectations and our guidance for the quarter. We also continued to show improvements in our gross profit margins primarily driven by the introduction of new pumps at Harvard Apparatus, a new spectrophotometer at Biochrom and operational improvements at Hoefer, Coulbourn and Panlab."

Mr. Graziano continued, "In our RMD business we achieved a major milestone with our participation in the initiation of a clinical trial for regenerated tracheal transplants funded under a "$5 million Mega Grant" from the Russian government and the first two patients enrolled in the trial have already been treated."

"Looking forward to the balance of the year," he continued, "we are maintaining our 2012 guidance for our core LSRT business at $115-120 million for revenues and 39-42 cents for non-GAAP adjusted diluted earnings per share. We also continue to expect our RMD business's operating expenses to be about 13 cents per diluted share this year."

Mr. Graziano further added, "We expect revenues for our core LSRT business in the third quarter to be in the $27-28 million range and non-GAAP adjusted diluted earnings per share to be in the 9-10 cents range. In our RMD business, we expect third quarter operating expenses to be in the range of 3-4 cents per diluted share."

Our third quarter 2012 revenue and earnings guidance was calculated using exchange rates (USD 1.55/GBP, USD 1.25/Euro and USD 0.14/SEK) approximating July 5, 2012 rates and assumes a continuation of the business conditions as we see them at this time. The non-GAAP adjusted earnings per diluted share guidance excludes amortization of intangible assets, the impact of future acquisitions, acquisition costs, any future restructuring actions, and stock-based compensation expense recognized under the provisions of FASB ASC Topic 718, "Compensation -- Stock Compensation." See the table below for a reconciliation of our estimated non-GAAP adjusted earnings per diluted share to our estimated GAAP earnings per diluted share. See Exhibits 4, 5 and 6 for reconciliations of GAAP to non-GAAP adjusted operating income, GAAP to non-GAAP adjusted net income and GAAP diluted earnings per common share to non-GAAP adjusted diluted earnings per common share for the three and six months ended June 30, 2012 and 2011, respectively.

Operating Results for Continuing Operations

Three months ended June 30, 2012 compared to three months ended June 30, 2011:

Revenues increased $1.4 million, or 5.0%, to $28.5 million for the three months ended June 30, 2012 compared to $27.1 million for the same period in 2011. Our acquisitions of CMA, AHN and Modular contributed approximately $1.3 million, or 4.9% to second quarter 2012 revenues. The effect of a stronger U.S. dollar decreased our second quarter revenues by $0.6 million, or 2.1%, compared with the same period in 2011. Adjusting for the effect of foreign currency fluctuation and acquisitions, revenues were up $0.7 million, or 2.2%, year-to-year and reflected organic growth across our Biochrom, Denville and Hoefer businesses.

Cost of product revenues increased $0.5 million, or 3.6%, to $14.9 million for the three months ended June 30, 2012 compared with $14.4 million for the three months ended June 30, 2011. The increase in cost of product revenues included $0.9 million, or 6.3%, attributable to our acquisitions of CMA, AHN and Modular. A stronger U.S. dollar caused a $0.3 million, or 2.1%, favorable currency effect on the cost of product revenues for the three months ended June 30, 2012. Gross profit as a percentage of revenues increased to 47.8% for the three months ended June 30, 2012 compared with 47.1% for the same period in 2011. The increase in gross profit as a percentage of revenues was primarily due to a more favorable sales mix in the second quarter of 2012 compared with the second quarter of 2011.

Sales and marketing expenses increased $0.5 million, or 11.1%, to $4.7 million for the three months ended June 30, 2012 compared with $4.3 million for the three months ended June 30, 2011. In LSRT, sales and marketing expenses increased $0.4 million, or 8.5%, to $4.5 million, compared to $4.2 million for the three months ended June 30, 2011 primarily due to $0.2 million, or 3.7%, of expenses related to our acquisitions of CMA, AHN and Modular, and $0.2 million, or 4.7%, mainly due to increased selling activities at our Denville business. In RMD, sales and marketing expenses increased $0.1 million compared with the second quarter of 2011 primarily due to an increase in business development efforts.

General and administrative expenses increased $0.7 million, or 16.5% to $4.9 million for the three months ended June 30, 2012 compared with $4.2 million for the three months ended June 30, 2011. In LSRT, general and administrative expenses increased $0.3 million, or 8.3%, to $4.4 million, compared to $4.1 million for the three months ended June 30, 2011 primarily due to our acquisitions of CMA and AHN. In RMD, general and administrative expenses increased $0.4 million due to increased activity in our regenerative medicine device initiative.

Research and development expenses increased $0.8 million, or 74.8% to $2.0 million for the three months ended June 30, 2012 compared with $1.1 million for the three months ended June 30, 2011. In LSRT, research and development expenses increased $0.3 million, or 37.8%, to $1.1 million, compared to $0.8 million for the three months ended June 30, 2011 due to greater new product development activities at our Biochrom U.K. and Harvard Apparatus U.S. subsidiaries. In RMD, research and development expenses increased $0.5 million, primarily due to increased activity in our stem cell therapy injector and bioreactor development.

Amortization of intangible assets expenses remained flat at $0.7 million for the three months ended June 30, 2012 and 2011 and included amortization expenses of intangible assets related to our historical acquisitions.

Other expense and income, net, was $0.2 million expense and $0.5 million expense for the three months ended June 30, 2012 and 2011, respectively. Net interest expense was $0.1 million for the three months ended June 30, 2012 compared to net interest expense of $0.2 million for the three months ended June 30, 2011. The decrease in net interest expense was primarily due to lower average debt balances in the second quarter of 2012 compared to the second quarter of 2011. Other expense and income, net, for the three months ended June 30, 2012 and 2011, also included $0.1 million and $0.3 million, respectively, of primarily acquisition related expenses.

Income tax expense from continuing operations was approximately $0.3 million and $0.6 million for the three months ended June 30, 2012 and 2011, respectively. The effective income tax rate for continuing operations was 27.9% for the three months ended June 30, 2012, compared with 31.5% for the same period of 2011. The difference between our effective tax rate and the U.S. statutory tax rate is principally attributable to foreign tax rate differential and research and development tax credits. Our non-GAAP adjusted income tax rates were 28.0% and 30.2% for the quarters ended June 30, 2012 and 2011, respectively. The decrease in the GAAP and non-GAAP income tax rate in the second quarter of 2012 compared with the second quarter of 2011 was primarily due to recognition of the aforementioned increased research and development tax credits and foreign tax rate differential.

Six months ended June 30, 2012 compared to six months ended June 30, 2011:

Revenues increased $3.4 million, or 6.3%, to $56.8 million for the six months ended June 30, 2012 compared to $53.5 million for the same period in 2011. Our acquisitions of CMA, AHN and Modular contributed approximately $2.5 million, or 4.7% to the six months ended 2012 revenues. The effect of a stronger U.S. dollar decreased our revenues by $0.8 million, or 1.6%, compared with the same period in 2011. Adjusting for the effect of foreign currency fluctuation and acquisitions, revenues were up $1.7 million, or 3.2%, year-to-year and reflected organic growth across our Harvard, Biochrom, Denville and Hoefer businesses.

Cost of product revenues increased $1.5 million, or 5.3%, to $29.8 million for the six months ended June 30, 2012 compared with $28.3 million for the six months ended June 30, 2011. The increase in cost of product revenues included $1.6 million, or 5.7%, attributable to our acquisitions of CMA, AHN and Modular. A stronger U.S. dollar caused a $0.4 million, or 1.6%, favorable currency effect on the cost of product revenues for the six months ended June 30, 2012. Excluding the effects of currency changes and acquisitions, the cost of product revenues increased by $0.3 million, or 1.2% over the same period in the previous year. Gross profit as a percentage of revenues increased to 47.5% for the six months ended June 30, 2012 compared with 47.1% for the same period in 2011. The increase in gross profit as a percentage of revenues was primarily due to a more favorable sales mix in the first half of 2012 compared with the same period in 2011.

Sales and marketing expenses increased $1.1 million, or 12.6%, to $9.5 million for the six months ended June 30, 2012 compared with $8.4 million for the six months ended June 30, 2011. In LSRT, sales and marketing expenses increased $0.9 million, or 10.9%, to $9.1 million, compared to $8.2 million for the six months ended June 30, 2011 primarily due to $0.3 million, or 3.2%, of expenses related to our acquisitions of CMA, AHN and Modular, and $0.6 million, or 7.7%, mainly due to increased selling activities at our Denville business. In RMD, sales and marketing expenses increased $0.2 million primarily due to an increase in business development efforts.

General and administrative expenses increased $1.2 million, or 14.0% to $9.8 million for the six months ended June 30, 2012 compared with $8.6 million for the six months ended June 30, 2011. In LSRT, general and administrative expenses increased $0.6 million, or 7.0%, to $8.9 million, compared to $8.3 million for the six months ended June 30, 2011 primarily due to our acquisitions of CMA and AHN. In RMD, general and administrative expenses increased $0.6 million due to increased activity in our regenerative medicine device initiative.

Research and development expenses increased $1.3 million, or 54.0% to $3.7 million for the six months ended June 30, 2012 compared with $2.4 million for the six months ended June 30, 2011. In LSRT, the research and development expenses increased $0.3 million, or 17.8%, to $2.1 million for the six months ended June 30, 2012, compared to $1.8 million for the six months ended June 30, 2011 due to greater new product development initiatives at our Harvard Apparatus U.S. subsidiary. In RMD, research and development expenses increased $1.0 million, primarily due to increased activity in our stem cell therapy injector and bioreactor development.

Amortization of intangible asset expenses increased $0.1 million, or 6.2%, to $1.4 million for the six months ended June 30, 2012 compared with $1.3 million for the same period in 2011. The year-to-year increase in the amortization expense was primarily due to our acquisitions of CMA, AHN and Modular.

Other expense and income, net, was $0.6 million expense and $0.8 million expense for the six months ended June 30, 2012 and 2011, respectively. Net interest expense was $0.3 million for the six months ended June 30, 2012 compared to net interest expense of $0.4 million for the six months ended June 30, 2011. The decrease in net interest expense was primarily due to lower average borrowings in the first half of 2012 compared to the first half of 2011. Other expense and income, net, for the three months ended June 30, 2012 and 2011, also included $0.3 million and $0.4 million, respectively, of primarily acquisition related expenses.

Income tax expense from continuing operations was approximately $0.6 million for the six months ended June 30, 2012 and 2011. The effective income tax rate for continuing operations was 32.1% for the six months ended June 30, 2012, compared with 17.1% for the same period of 2011. The difference between our effective tax rate and the U.S. statutory tax rate for the six months ended June 30, 2012 was principally attributable to foreign tax rate differential and increased research and development tax credits partially offset by discrete expense items related to acquisition costs and stock compensation expense. The difference between our effective tax rate and the U.S. statutory tax rate for the six months ended June 30, 2011 was principally attributable to the reversal of uncertain tax liability of $0.5 million and the associated accrued interest in the first quarter of 2011, foreign tax rate differential and increased research and development tax credits. Our non-GAAP adjusted income tax rates were 27.8% and 29.0% for the six months ended June 30, 2012 and 2011, respectively. The decrease in the non-GAAP income tax rate in the first half of 2012 compared with the first half of 2011 was primarily due to recognition of the aforementioned increased research and development tax credits and foreign tax rate differential.

Balance Sheet

We ended the second quarter of 2012 with cash and cash equivalents of $18.7 million compared to $17.9 million at December 31, 2011. As of June 30, 2012 and December 31, 2011, we had borrowings of $16.1 million and $16.3 million, respectively, outstanding under our credit facility. The borrowings are mainly related to our acquisitions and stock repurchase program. Total cash and equivalents, net of debt, was $2.6 million and $1.6 million at June 30, 2012 and December 31, 2011, respectively. During the six months ended June 30, 2012, we paid $2.9 million from our existing cash balance for our acquisitions.

Trade receivables were $15.1 million and inventories were $17.7 million as of June 30, 2012 compared to trade receivables of $14.5 million and inventories of $19.0 million as of June 30, 2011. Outstanding days of sales, or DSO, were 49 days for the three months and six months ended June 30, 2012, and 49 days and 50 days for the three months and six months ended June 30, 2011, respectively. Annualized inventory turns were 3.3 times for the three month period ended June 30, 2012 compared with 3.1 times for the same period in 2011.

Conference Call Details

As previously announced, management will host a conference call to discuss second quarter 2012 results and business highlights and outlook, which will be simultaneously broadcast over the Internet and can be accessed through the Harvard Bioscience, Inc. web site. In addition, management may discuss, and answer one or more questions concerning, business and financial developments and trends, including with respect to our acquisition initiatives, our efforts in the field of regenerative medicine and other business and financial matters affecting the Company. Some of these discussions and responses to questions may contain information that has not been previously disclosed. The conference call will begin at 11:00 a.m. Boston time today, August 2, 2012. To listen to the conference call, log on to our website at www.harvardbioscience.com and click on the Earnings Call icon. If you are unable to listen to the live webcast, the call will be archived in the investor relations section of our website. The live conference call is also accessible by dialing toll-free 877-303-7611, or toll 970-315-0445, and referencing the pass code of "11845314". A replay of this conference call will be available from 2:00 p.m. on August 2, 2012 through August 10, 2012 and will be accessible by dialing toll-free 855-859-2056, or toll 404-537-3406, and referencing the pass code of "11845314". This earnings release, as well as any material financial and other statistical information presented on the call which is not included in this earnings release, is available on our website by clicking on the Press Releases icon. If you are unable to listen to the live conference call, please note that the call, this press release and any related financial or statistical information will be archived on our web site under the Press Releases icon or Earnings Call icon, as appropriate.

Use of Non-GAAP Financial Information

In this press release, we have included non-GAAP financial information including adjusted operating income, adjusted net income and adjusted earnings per diluted share. We believe that this non-GAAP financial information provides investors with an enhanced understanding of the underlying operations of the business. For the periods presented, these non-GAAP financial measures of income have excluded certain expenses and income primarily resulting from purchase accounting or events that we do not believe are related to the underlying operations of the business such as amortization of intangibles related to acquisitions, costs related to acquisition initiatives, restructuring expenses (including related inventory write-downs) and stock-based compensation expense. They also exclude the tax impact of the reconciling items and the recognition of expense and reversal of the benefit related to the uncertain tax positions and the corresponding accrued interest. This non-GAAP financial information is used by our management to internally evaluate our operating results. Tabular reconciliations of our non-GAAP adjusted operating income, non-GAAP adjusted net income and non-GAAP adjusted earnings per diluted share for the three and six months ended June 30, 2012 and 2011 and changes in total revenue compared to the same period of the prior year are included as exhibits below in this press release.

The non-GAAP financial information provided in this press release should be considered in addition to, not as a substitute for, the financial information provided and presented in accordance with GAAP.

About Harvard Bioscience

Harvard Bioscience ("HBIO") is a global developer, manufacturer and marketer of a broad range of specialized products, primarily apparatus and scientific instruments, used to advance life science research and regenerative medicine. Our products are sold to thousands of researchers in over 100 countries primarily through our 850 page catalog (and various other specialty catalogs), our website, through distributors, including GE Healthcare, Thermo Fisher Scientific and VWR, and via our field sales organization. We have sales and manufacturing operations in the United States, the United Kingdom, Germany, Sweden and Spain with additional facilities in France and Canada. For more information, please visit www.harvardbioscience.com.

The Harvard Bioscience, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6426

This press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of such words as "will," "guidance," "objectives," "optimistic," "potential," "future," "expects," "plans," "estimates," "continue," "drive," "strategy," "potential," "potentially," "growth," "long-term," "projects," "projected," "intends," "believes," "goals," "sees," "seek," "develop" "possible" "new," "emerging," "opportunity," "pursue" and similar expressions that do not relate to historical matters. Forward-looking statements in this press release or that may be made during our conference call may include, but are not limited to, statements or inferences about the Company's or management's beliefs or expectations, the Company's anticipated future revenues and earnings, the strength of the Company's market position and business model, the impact of acquisitions, including the CMA Microdialysis, AHN Biotechnologie and Modular SFC acquisition, or potential acquisitions, the outlook for the life sciences industry and the field of regenerative medicine, opportunities or potential opportunities in the field of regenerative medicine, the Company's business strategy, the positioning of the Company for growth, the market demand and opportunity for the Company's current products, or products it is developing or intends to develop, and the Company's plans, objectives and intentions that are not historical facts.

These statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that may cause the Company's actual results to differ materially from those in the forward-looking statements include the Company's failure to identify potential acquisition candidates, successfully negotiate favorable pricing and other terms with acquisition candidates to enable potential acquisitions to close, successfully integrate acquired businesses or technologies, complete consolidations of business functions, expand our product offerings, introduce new products or commercialize new technologies, including in the field of regenerative medicine, unanticipated costs relating to acquisitions, unanticipated costs arising in connection with the Company's consolidation of business functions and any restructuring initiatives, decreased demand for the Company's products due to changes in our customers' needs, our ability to obtain regulatory approvals, including FDA approval, for our products, including any products in the field of regenerative medicine, the current size or anticipated size of the regenerative medicine market, the existence and size of opportunities in the regenerative medicine market, our financial position, general economic outlook or other circumstances, overall economic trends, the seasonal nature of purchasing in Europe, economic, political and other risks associated with international revenues and operations, the impact of the current economic and financial crisis, additional costs of complying with recent changes in regulatory rules applicable to public companies, our ability to manage our growth, our ability to retain key personnel, competition from our competitors, technological changes resulting in our products becoming obsolete, future changes to the operations or the activities of our subsidiaries due to manufacturing consolidations, our ability to meet the financial covenants contained in our credit facility, our ability to protect our intellectual property and operate without infringing on others' intellectual property, potential costs of any lawsuits to protect or enforce our intellectual property, economic and political conditions generally and those affecting pharmaceutical and biotechnology industries, research funding levels from endowments at our university customers, impact of any impairment of our goodwill or intangible assets, our ability to utilize deferred tax assets after the release of our valuation allowances, our acquisition of Genomic Solutions failing to qualify as a tax-free reorganization for federal tax purposes, the amount of earn-out consideration that the Company receives in connection with the disposition of the Company's Capital Equipment Business segment and factors that may impact the receipt of this consideration, such as the revenues of the businesses disposed of, plus factors described under the heading "Item 1A. Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011 or described in the Company's other public filings. The Company's results may also be affected by factors of which the Company is not currently aware. The Company may not update these forward-looking statements, even though its situation may change in the future, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information.

For investor inquiries, please call (508) 893-8066. Press releases may be found on our web site,http://www.harvardbioscience.com.

AL International to Host Second Quarter 2012 Financial Results on August 14, 2012

admin — Wed, 01 Aug 2012 14:24:40 +0000

Interactive Conference Call to Review Financial Results and Provide Corporate Update

AL International (Pink Sheets: JCOF) (www.alintjcof.com), a global direct marketer of lifestyle and nutritional products and gourmet fortified coffee, announces that it will host a conference call to discuss its Second Quarter 2012 financial results at 1:15 PM Pacific Time (4:15 PM Eastern Time) on August 14, 2012.

AL International’s senior management will host the call, led by Mr. Steve Wallach, Chief Executive Officer; Mr. Dave Briskie, Chief Financial Officer; and Mr. William Andreoli, President. The purpose of the call will be to review the second quarter results for the period ended June 30, 2012, and review highlights for the quarter that are contributing to revenue growth in its expanding Youngevity direct selling business and CLR Roaster coffee operations. The company is also planning a review of its Audited Financial Statements in accordance to GAAP for 2010 and 2011 and will provide an update and revised timeline on the company’s plans to file its Form 10K and begin the up-listing process.

Join the Conference:

Investors can participate in the conference call by dialing 888-424-8151 for US callers and 847-585-4422 for international callers, and by entering passcode 9031 089#. It is advised that you dial-in five minutes prior to the call. If you wish to listen to the replay of this conference call, please visit the Investor Relations section of AL International’s website: http://www.alintjcof.com/investors.php.

About Youngevity® Essential Life Sciences

About AL International

AL International, Inc. (Pink Sheets: JCOF) (http://www.alintjcof.com) is a fast-growing, innovative, multi-dimensional company that offers a wide range of consumer products and services, primarily through person-to-person selling relationships that comprise a “network of networks.” The company also is a vertically-integrated producer of the finest coffees for the commercial, retail and direct sales channels. AL International was formed after the merger of Youngevity Essential Life Sciences (http://www.youngevity.com) and Javalution Coffee Company in the summer of 2011.

Safe Harbor Statement

This release includes forward-looking statements on our current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements relating to the Form 10 filing and our efforts to effect an up-listing. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in our forward-looking statements include, among others, the ability to implement our business plan and growth strategy through acquisition and the continued growth of our distributor base. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release based on new information, future events, or otherwise, except as required by law.

Legendary Guitar Maker C. F. Martin & Co. Expands DNA Marking to Guitar Strings and Protects Brand With Botanical DNA

admin — Wed, 01 Aug 2012 13:05:02 +0000

Applied DNA Sciences, Inc. (APDN) (Twitter:@APDN), a provider of botanical DNA-based product verification solutions, announces that celebrated guitar maker C.F. Martin & Co. ("Martin Guitar") has expanded DNA marking to protect and authenticate its guitar strings. Martin Guitar produces millions of strings per year, and is one of the leading manufacturers of guitar strings in the world. Martin Guitar strings are made in Navojoa, Mexico.

"Botanical DNA marking provides the ultimate security by protecting the guitar strings and the guitar itself at the original point of manufacture. DNA technology will help us to ascertain product authenticity, and it is consistent with Martin Guitar's intellectual property protection strategy," said C. F. Martin & Co. Vice President, Business Development, Gregory Paul. "Use of this technology for strings and other musical instruments by others in our industry can only help in the fight against counterfeiting."

Martin Guitar, an iconic American brand that is acknowledged as the creator of some of the world's finest musical instruments for over 175 years, has partnered with Applied DNA Sciences to protect its products, brands and intellectual property from counterfeiting and diversion. Since 2011, Martin Guitar has been incorporating its unique "Martin Guitar" botanical DNA mark onto each of its guitars, produced in its factories at Nazareth, Pennsylvania and Navojoa, Mexico. As part of the DNA authentication platform, any guitars made by Martin Guitar from 2011 will be able to be identified and forensically authenticated.

Every year, several thousand dedicated guitar owners attend a special event hosted by Martin Guitar to learn about new products, as well as new technologies. APDN will exhibit its botanical DNA authentication technology at the Martin Owners Club Event on Friday, August 3, 2012 in Nazareth. Applied DNA will be exhibiting at this event for the second year in a row.

At the Martin Owners Club Event in 2011, Chris Martin IV, Chairman and CEO, stated: "People around the world know the high level of quality that is inherent in each and every guitar that features the C. F. Martin logo, and protecting our intellectual property is of vital importance, as we face new counterfeit-related challenges at home and abroad."

Chris Martin IV commented recently: "We continue to work with Applied DNA Sciences on developing this program, first with our custom guitars, which have now extended to our laminates, and soon we will begin to mark our strings. We are serious about protecting our brand. Like I have said before, if you want to make guitars go ahead -- just don't use the Martin Guitar name on it."

Martin Guitar selected botanical DNA over other authentication technologies because it can be used to covertly mark a guitar, with its location known only to Martin Guitar, and for the strength in DNA generally in prosecution. As an identification procedure, DNA is recognized in courts in general as strong forensic evidence.

Botanical DNA can also be used in combination with wireless tracking technologies such as RFID as a way to ensure that those devices are not copied or tampered with. As guitars are botanically DNA-marked in quantity, forensic authentication by our labs, both as a quality control measure and also testing of products already in the field, can prove in time to be a strong anti-counterfeiting platform.

Famously wielded by singers like Bob Dylan, Neil Young, Freedy Johnston, and Robbie Robertson, historic Martin guitars are on display at a museum at the factory in Nazareth, where the Martin Owners Club Event is held. Last year, the company celebrated the creation of guitar number 1,500,000, counting from its first creations in a workshop in what is now the TriBeCa section of New York in 1833. Applied DNA Sciences is honored to help protect the historic legacy of this cherished American brand.

Dr. James A. Hayward, CEO, Applied DNA Sciences stated:

"It is clear that protection of musical instruments and accessories is becoming vital to manufacturers. We have been approached by musical instrument manufacturers and we are convinced that this is an increasingly relevant category for Applied DNA Sciences, beneficial to our business and to those of future partners."

About APDN
APDN is a provider of botanical-DNA based security and authentication solutions that can help protect products, brands and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. SigNature® DNA and smartDNA™, our principal anti-counterfeiting and product authentication solutions that essentially cannot be copied, provide a forensic chain of evidence and can be used to prosecute perpetrators.

The statements made by Applied DNA Sciences, Inc. (APDN) may be forward-looking in nature. Forward-looking statements describe APDN's future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of APDN. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in APDN's SEC reports and filings, including our Annual Report on Form 10-K, filed on December 8, 2011 and our subsequent quarterly reports on Form 10-Q. APDN undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

Wavefront Technology Solutions Inc.: Powerwave Can Recover Billions of Additional Barrels of Oil

admin — Tue, 31 Jul 2012 19:34:15 +0000

Independent Engineering Evaluation by Gaffney-Cline and Associates Validates Field Performance

Wavefront Technology Solutions Inc. (Wavefront or the Company), (WEE.V) (WFTSF) the global leader in fluid injection technologies for improved performance and profitability in the oil and gas and environmental sectors, is pleased to announce that an independent field performance review by Gaffney-Cline and Associates, a well respected international oil and gas consulting firm, has validated Powerwave results in certain Alberta and Saskatchewan projects.

Gaffney-Cline and Associates was contracted by Wavefront to evaluate the results of Wavefront's Powerwave installations. The study included 5 fields comprising 58 Powerwave-driven water injector installations having a minimum 1 year injection history. The analysis was completed using the Canadian public database, geoScout, which reports an operator's production and injection data. More specifically, the Gaffney-Cline analysis evaluated the production response at surrounding producers that comprised the well patterns supported by water injection utilizing Powerwave pulsing technology.

Increases in Estimated Ultimate Recovery (EUR) were evaluated on a well by well and pattern by pattern basis. EUR was evaluated with two main methods: log q (oil rate) vs. Q (cumulative oil) and log WOR (water-oil ratio) vs. Q decline analysis. The decline trend was estimated before and after the Powerwave installations, and the difference in EUR was quantified. The results summarized in the table below range from 0.7% to 7.4%. The EUR increase is witnessed by either an increase in oil rate, flattening of the oil decline, and/or a decrease in WOR (water oil ratio).

 

----------------------------------------------------------------------------
                                   Total            Total      Average EUR
                             Incremental      Incremental         Increase
Field Location                   Oil (m3)       Oil (bbls)              (%)
----------------------------------------------------------------------------
Alberta Project 1                 57,100          359,148             7.42%
Alberta Project 2                 20,750          130,514             1.21%
Saskatchewan Project 1            16,900          106,298             2.11%
Alberta Project 3                  5,700           35,852             1.32%
Alberta Project 4                  3,000           18,869             0.72%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TOTALS                           103,450          650,681             2.56%
----------------------------------------------------------------------------

Further evaluation of the estimated EUR values calculated for the report will most likely be undertaken after an additional year or more of production has occurred under Powerwave water injection as oil rate decline trends may establish themselves more completely allowing for better estimation of EUR. In certain cases evaluated for the study EUR may be conservative as production trends remain flat or are increasing.

"Estimated Ultimate Recovery plays a critical role in driving investment decisions for operators and Powerwave's performance has demonstrated it can increase EUR appreciably," said Wavefront President and CEO Brett Davidson. "With a 2006 report by Advanced Resources International indicating 400 billion barrels of oil remain stranded throughout the United States(1) it's clear that Powerwave can make a important contribution to increased oil recovery in a variety of applications."

(1) Assessing Technical and Economic Recovery of Oil Resources in Residual Oil Zones, ARI, February 2006, www.adv-res.com/pdf/ROZ_Phase_II_Document.pdf

A BP report noted that a 1% improvement on its original hydrocarbons equates to 2 billion barrels of additional reserves. Worldwide, a 5% increase in oil recovery would yield an additional 300-600 billion barrels(2). "The EUR results we are presenting today are very noteworthy and we would expect Powerwave benefits to become larger as the fields are more fully networked," said Davidson. "With reference to the BP report the 2.56% average EUR increase would equate to a more than 4 billion barrel improvement on BP's original hydrocarbons. Wavefront has long maintained that Powerwave will positively affect the reservoir's natural production decline rate, extend field life, and maximize ultimate oil recovery."

ON BEHALF OF THE BOARD OF DIRECTORS

WAVEFRONT TECHNOLOGY SOLUTIONS INC.

D. Brad Paterson, CFO & Director

About Wavefront:

Wavefront is a technology based world leader in fluid injection technology for improved/enhanced oil recovery and groundwater restoration. Wavefront publicly trades on the TSX Venture Exchange under the symbol WEE and on the OTCQX under the symbol WFTSF. The Company's website iswww.onthewavefront.com.

Cautionary Disclaimer - Forward Looking Statement

Certain statements contained herein regarding Wavefront and its operations constitute "forward-looking statements" within the meaning of Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations or future performance, are "forward-looking statements". In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "believe", "continue" or the negative of these terms or other comparable terminology. We caution that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such factors include fluctuations in the acceptance rates of Wavefront's Powerwave and Primawave Processes, demand for products and services, fluctuations in the market for oil and gas related products and services, the ability of Wavefront to attract and maintain key personnel, technology changes, global political and economic conditions, and other factors that were described in further detail in Wavefront's continuous disclosure filings, available on SEDAR at www.sedar.com. Wavefront expressly disclaims any obligation to up-date any "forward-looking statements", other than as required by law.

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.