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(OTCBB: JMBA - Jamba, Inc.)
(NASDAQ: PLUS - ePlus inc.)
(NASDAQ: JBLU - JetBlue Airways Corp.)
(NASDAQ: NUVA - NuVasive, Inc.)
(NASDAQ: RAIL - FreightCar America, Inc.)
(NASDAQ: RAND - Rand Capital Corp.)
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(OTCBB: JMBA - Jamba, Inc.)
LATEST NEWS!!
Jamba Accelerating Brand Expansion Plans with Announcement of Licensing Agreement with Headline Entertainment
EMERYVILLE, Calif., Nov 06, 2009 -- Jamba, Inc. (NASDAQ: JMBA) today announced continued progress in their brand expansion plans, as its wholly-owned subsidiary, Jamba Juice Company, entered into a license agreement with Headline Entertainment to develop a line of Jamba inspired apparel.
"We've been looking for new innovative ways to expand our brand and be even more relevant to our customers. Adding an apparel line extends the Jamba brand into yet another new category, and reinforces our position as an active, lifestyle brand," said Susan Shields, Vice President, Consumer Products and Licensing, Jamba Juice Company. "We feel that Headline Entertainment's experience in the apparel sector as well as the creativity behind their products will produce a fun, vibrant apparel line." The licensing agreement with Headline Entertainment will involve the introduction of a line of apparel to be sold to mass, specialty, and upscale retailers as well as online. Some select items will also be sold in Jamba Juice store locations.
"Extending Jamba's brand through an apparel line is an exciting opportunity for our company," said Mike Taylor, President, Headline Entertainment. "We look forward to working with the Jamba team to come up with a collection geared especially towards their customers." Since announcing their intent to build a licensing growth platform as part of the 2009 BLEND plan, the blueprint for the Company's strategic priorities, Jamba has made significant progress in developing licensing alliances to launch new products. The Company's Jamba-branded toy blender, developed through its relationship with Think Wow Toys, is expected to hit retail shelves in mid-November. It expects its' frozen novelty products, and frozen smoothie kits, developed through its relationship with Oregon Ice Cream and The Inventure Group, respectively, to launch in retail in early 2010. The Company is exploring a number of other opportunities to extend the Jamba brand.
About Jamba, Inc.
Jamba, Inc. (NASDAQ: JMBA) is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA JUICE(R) stores. Founded in 1990, Jamba Juice is a leading restaurant retailer of better-for-you food and beverage offerings, including great tasting fruit smoothies, juices, and teas, hot oatmeal made with organic steel cut oats, wraps, salads, sandwiches, and California Flatbreads(TM), and a variety of baked goods and snacks. As of October 6, 2009, Jamba Juice had 742 locations consisting of 488 company- owned and operated stores and 254 franchise stores. For the nearest location or a complete menu, visit the Jamba Juice website at www.jambajuice.com or call 1-866-4R-FRUIT.
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(NASDAQ: PLUS - ePlus inc.)
LATEST NEWS!!
ePlus Achieves Cisco Master Managed Services Certification
Company Recognized as Having Highest Level of Expertise in Developing and Delivering Managed Services
HERNDON, Va., Nov 6, 2009) -- ePlus inc. (Nasdaq:PLUS) announced today that its wholly owned subsidiary, ePlus Technology inc., has achieved the Master Managed Services Certification from Cisco(R). This certification recognizes ePlus as having attained expertise in all phases of the Cisco lifecycle methodology, described as "prepare, plan, design, implement, operate, and optimize." "Organizations are under significant pressure to reduce costs while improving the delivery of technology as a service to their business," said Martin Steinhobel, vice president of national professional services at ePlus. "By leveraging leading IT processes, such as IT Infrastructure Library(R) ("ITIL(R)"), and the Cisco-Powered managed services framework, ePlus can package its offering in a utility computing model that allows organizations to off-load an enormous burden of day-to-day infrastructure management. ePlus' managed services solutions provide focused IT services at a predictable cost that help our customers optimize operations, manage risk, and deliver value from their technology investments." The Cisco Master Managed Services Certification recognizes a solution provider's investment in the managed service ITIL processes, practices, and tools necessary to provide high-quality managed services. As a Cisco Master Managed Services certified partner, ePlus has demonstrated the ability to deliver sophisticated solutions, met stringent requirements that reflect a depth of capabilities, and undergone an independent audit by an objective third-party auditor. ePlus was also required to offer at least two managed services using the resources and procedures necessary to deploy, manage, and support Cisco solutions.
"ePlus' investment in the Cisco Master Managed Services certification ranks it among an elite group of channel partners with the resources to deploy, manage, and support services for multiple technologies," said Edison Peres, senior vice president of the worldwide channels go-to-market group at Cisco.
In addition, ePlus has achieved Cisco Powered managed service designations in Cisco Powered Managed Security and Cisco Powered Managed Unified Communications. Cisco Powered managed service designations acknowledge that a managed service provider has invested in industry-leading Cisco architectures and that its services have met the highest Cisco user-experience standards.
ePlus holds Cisco Master Specializations in Security and Unified Communications as well as Cisco Advanced Specializations in Routing and Switching, Data Center Storage Networking, Data Center Networking Infrastructure, and Wireless LAN. ePlus also holds Cisco Authorized Technology Provider (ATP) designations in Cisco TelePresence, Video Surveillance, and Data Center Unified Computing. For more information about Cisco solutions from ePlus, visit http://www.eplus.com/cisco.
About ePlus inc.
ePlus is a leading provider of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering world-class IT products from top manufacturers, professional services, flexible lease financing, proprietary software, and patented business methods. Founded in 1990, ePlus has more than 625 associates in 20+ locations serving federal, municipal, and commercial customers. The Company is headquartered in Herndon, VA. For more information, visit http://www.eplus.com, call 888-482-1122, or email info@eplus.com.
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(NASDAQ: JBLU - JetBlue Airways Corp.)
LATEST NEWS!!
Panthers Get Wings: JetBlue Signs on as Official and Exclusive Airline Partner of the Florida Hockey Team and a Pillar Partner of the BankAtlantic Center
----To celebrate, JetBlue offers 18 percent off flights to/from all 18 nonstop cities from Fort Lauderdale booked today at www.jetblue.com/bac for travel Dec. 2 to Dec. 16, 2009 (a) ------ Top 40 rock band, Cobra Starship, will give a free concert at the BankAtlantic Center today at 12:30 p.m. --
FORT LAUDERDALE, Fla., Nov 06, 2009 -- JetBlue Airways (Nasdaq: JBLU), the airline that gives customers more than the other guys, today proudly announced a partnership with Sunrise Sports & Entertainment to become the Official and Exclusive Airline Partner of the National Hockey League's Florida Panthers and a Pillar Partner of the BankAtlantic Center, its first-ever venue sponsorship. The alliance kicks off today with a free concert at 12:30 p.m. by top 40 rock band Cobra Starship, hosted by the airline and Y100 Miami at the BankAtlantic Center.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090217/NY71475LOGO-b ) JetBlue, in celebration of this partnership and commemorating the Nov. 17th launch of its 18th destination from Fort Lauderdale -- San Francisco, California - is also offering an 18 percent off sale for bookings made today at www.jetblue.com/bac for travel between Dec. 2 and Dec. 16, 2009 to/from any of the airline's 18 nonstop cities (a).
This sale is the first of many exciting promotions the airline will launch to continue to bring more to the travelers South Florida. In addition to JetBlue's award-winning customer service, customers also enjoy a first checked bag free, complimentary snacks and drinks, more legroom than any other carrier in coach (b), more free live entertainment on personal seatback TVs.
Marty St. George, Senior Vice President of Marketing and Commercial Strategy for JetBlue Airways, was joined today at the BankAtlantic Center by Sunrise Sports & Entertainment President & COO Michael Yormark and Panthers' Head Coach Pete DeBoer to announce this alliance, together with hundreds of JetBlue crewmembers, customers and fans.
"Fort Lauderdale is one of JetBlue's strongest cities and growing, so it makes perfect sense to pair up with one of the fastest growing franchises in South Florida," said Marty St. George. "We can now offer Panthers fans flights to all 18 nonstop destinations available; now they can follow their team on the road and never miss a game, or just visit friends and family throughout our robust network, while enjoying the award-winning JetBlue Experience." "We are both thrilled and honored to be able to partner with a respected, distinguished and natural business partner like JetBlue," Yormark said. "Over time, we have learned that our two companies share many of the same principles, such as innovative marketing, out of the box thinking, aggressive goals and objectives, and incomparable customer service." JetBlue's sponsorship includes joint marketing promotions and advertising through 2011: JetBlue will be a Pillar Partner of the BankAtlantic Center, Official and Exclusive Airline of the Florida Panthers, Official and Exclusive Airline of Sunrise Sports & Entertainment (SEE) and will have exclusive rights in the airline category to name, trademarks, uniform, logo in marketing, media, and promotional initiative.
Featured elements include JetBlue Runways and the JetBlue Tarmac: entitlement of main outdoor plaza and walkways; inner bowl, lobby and outer marquee signage; and a JetBlue Hispanic Concert Series. Also, a signature icon which will surely become a Florida landmark: a life-sized tailfin of one of our aircraft sporting the newest addition to the JetBlue livery, Blueberries. Other elements include social media and interactive fan engagement activities, special JetBlue fares to away games, TrueBlue nights at the BankAtlantic Center, and much more. JetBlue has also committed to supporting the Florida Panthers Foundation and associated programs throughout the South Florida area, as part of this partnership JetBlue Airways has enjoyed a long-term and successful relationship with South Florida: its first flight arrived to Fort Lauderdale in February of 2000 and now more than 850 crewmembers make part of the JetBlue South Florida family, who are proud and committed to its extensive network there. The airline offers service to 18 nonstop destinations from its focus city at Fort Lauderdale, including direct service to Cancun, Mexico; Nassau, Bahamas; Santo Domingo, Dominican Republic; and San Juan, Puerto Rico. Customers can also connect to Bermuda and more than 15 continental U.S. destinations from Fort Lauderdale through JetBlue's two other focus cities at New York's John F. Kennedy International Airport and Boston's Logan International Airport.
Customers enjoy JetBlue's award-winning customer service and in-flight experience, including all-leather seats with personal seatback TVs and Lots of Legroom. When jetting between destinations in the continental U.S., customers are treated to 36 channels of free live, DIRECTV(R) programming, including FOX, CBS and NBC as well as ESPN, ESPN 2, ESPN News, ESPN U and Setanta Sports. A selection of JetBlue Features movies is also available for a small charge. Customers can surf more than 100 channels of XM Satellite Radio(R).
About Sunrise Sports & Entertainment Sunrise Sports & Entertainment is the premier company of its kind in South Florida. Follow us on Twitter, Facebook, MySpace and YouTube. Home to more than 200 events annually and the Florida Panthers Hockey Club, the BankAtlantic Center was a finalist for Arena of the Year in annual awards given by trade publication Pollstar. The BankAtlantic Center welcomes more than two million guests each year and is also the home of Sawgrass Live presented by BankAtlantic.
About JetBlue Airways New York-based JetBlue Airways has created a new airline category based on value, service and style. In 2009, the carrier ranked "Highest in Customer Satisfaction Among Low-Cost Carriers in North America" by J.D. Power and Associates, a customer satisfaction recognition received for the fifth year in a row. Known for its award-winning service and free TV as much as its low fares, JetBlue is now pleased to offer customers Lots of Legroom and super-spacious Even More Legroom seats. JetBlue introduced complimentary in-flight e-mail and instant messaging services on aircraft "BetaBlue," a first among U.S. domestic airlines. JetBlue is also America's first and only airline to offer its own Customer Bill of Rights, with meaningful and specific compensation for customers inconvenienced by service disruptions within JetBlue's control. Visit www.jetblue.com/promise for details. JetBlue serves 60 cities with 650 daily flights. With JetBlue, all seats are assigned, all travel is ticketless, all fares are one-way, and an overnight stay is never required. For information or reservations call 1-800-JET-BLUE (1-800-538-2583), TTY/TDD 1-800-336-5530 or visit www.jetblue.com.
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(NASDAQ: NUVA - NuVasive, Inc.)
LATEST NEWS!!
NuVasive Appoints New Chief Financial Officer and Announces Additional Management Updates SAN DIEGO, Nov 06, 2009 -- NuVasive, Inc. (Nasdaq: NUVA), a medical device company focused on developing products for minimally disruptive surgical treatments for the spine, announced today the appointment of Michael J. Lambert as Executive Vice President and Chief Financial Officer, effective November 9, 2009. The Company also announced several other Executive Management Team updates.
"Michael will be an excellent complement to the NuVasive family," said Alex Lukianov, Chairman and Chief Executive Officer of NuVasive. "He has proven himself to be a strong financial leader, including experience as the Chief Financial Officer of a medical device company with over $1 billion in revenue. Michael's background has afforded him a wealth of experience in information technology and operations, which will be extremely valuable as we evolve into a much larger, yet still dynamic growth company." Mr. Lambert has been the Chief Financial Officer and held other key financial positions at other public companies. Most recently he was the Chief Financial Officer of Advanced Medical Optics, a medical device company focused on technologies used by eye care professionals. As the financial leader of a global organization, he developed in-depth operational expertise and critical analytical skills.
Mr. Lambert will succeed Kevin O'Boyle, who has served as the Chief Financial Officer of NuVasive since the company went public in 2004. Mr. O'Boyle will actively assist Mr. Lambert's transition into his new role through the end of the year.
NuVasive continues to strategically evolve its organizational structure in anticipation of becoming a worldwide leader in innovative spine surgery. Central to the creation of NuVasive's global infrastructure is a leadership team capable of driving the Company toward its long-term financial and strategic goals. To that end, NuVasive also announced the following management updates, each effective January 1, 2010: -- Patrick Miles will be promoted to President of the Americas, and will report to Keith Valentine, President and Chief Operating Officer. Mr.
Miles will oversee NuVasive's global creative product portfolio including marketing and development, clinical research, surgeon education, and sales for the Americas. Since 2001, Mr. Miles has devoted considerable energy and vision to leading the development and marketing efforts that have helped make NuVasive the unique and results-oriented spine company it is today.
-- Jeffrey Rydin will be promoted to Executive Vice President of Sales, Americas. Mr. Rydin will assume direct sales responsibility for the entire Americas' sales force. He also will serve as Chairman of our newly formed Global Sales Executive Committee designed to ensure that NuVasive's global sales and marketing strategy is carried out to maximize results. Mr. Rydin has made enormous contributions to our top line growth since joining NuVasive from Johnson & Johnson four years ago.
-- Jason Hannon will be promoted to Executive Vice President and General Counsel. Mr. Hannon will continue to be responsible for strategic planning, business development, and legal. His role will expand to include government affairs and broader administrative influence. Since joining NuVasive from private practice, Mr. Hannon has successfully taken on increasing responsibility and operational influence.
NuVasive is focused on expanding internationally and has added Executive Vice Presidents for both Asia and Europe that will report to Keith Valentine, President and Chief Operating Officer: -- Takaaki Tanaka has been appointed Executive Vice President of Asia Pacific. Mr. Tanaka will drive sales and strategic business initiatives in the Asia Pacific region, working from Tokyo, Japan. Mr. Tanaka joins NuVasive with a track-record of success in driving revenue and market share gains in the Asia Pacific region, having led the Medtronic Spinal, Biologics and Navigation Divisions to the #1 market share spot for the Asia Pacific region. He brings to NuVasive a wealth of experience in dealing with the unique dynamics of the Asia Pacific region.
-- Stephan Siemers has been appointed Executive Vice President of Europe.
Mr. Siemers will spearhead NuVasive's European sales and operations effort from Bremen, Germany. Stephan joins NuVasive following over fifteen years with Johnson & Johnson, where he most recently served as President of their international spine division. During his tenure, Mr.
Siemers successfully reorganized the German sales and marketing structure, and was responsible for Europe, Middle East, Africa, Asia Pacific, Latin America, and Canada. His division enjoyed the largest and most consistent sales growth for the entire organization.
Alex Lukianov, Chairman and Chief Executive Officer, said, "As we increase focus on becoming the #4 global spine company and growing to a $1 billion spine franchise, we need a strong management team with the ambition and experience to drive the growth of operations and exemplify NuVasive's culture of Absolute Responsiveness and product innovation. I am excited to announce these additions to the depth and strategic composition of our senior management team. I look forward to working with this well-qualified leadership team to achieve our goals at Cheetah Speed." About NuVasive NuVasive is a medical device company focused on the design, development, and marketing of products for the surgical treatment of spine disorders. The Company's product portfolio is focused primarily on the $4.6 billion U.S. spine implant market. Additionally, the Company has expanded into the $1.5 billion global biologics market, the $1.5 billion international market, and is developing products for the emerging motion preservation market.
NuVasive's principal product offering is based on its Maximum Access Surgery, or MAS(R) platform. The MAS platform combines four categories of products that collectively minimize soft tissue disruption during spine surgery with maximum visualization and safe, easy reproducibility for the surgeon: NeuroVision(R), a proprietary software-driven nerve avoidance system; MaXcess(R), a unique split-blade retractor system; a wide variety of specialized implants; and several biologic fusion enhancers. MAS significantly reduces surgery time and returns patients to activities of daily living much faster than conventional approaches. Having redefined spine surgery with the MAS platform's lateral approach, known as eXtreme Lateral Interbody Fusion, or XLIF(R), NuVasive has built an entire spine franchise. With nearly 50 products today spanning lumbar, thoracic and cervical applications, the Company will continue to expand and evolve its offering predicated on its R&D focus and dedication to outstanding service levels supported by a culture of Absolute Responsiveness(R).
For more information about NuVasive, go to www.nuvasive.com
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(NASDAQ: RAIL - FreightCar America, Inc.)
LATEST NEWS!!
FreightCar America, Inc. Reports Third Quarter 2009 Results
CHICAGO, Nov 06, 2009 -- FreightCar America, Inc. (NASDAQ: RAIL) today reported net income of $1.1 million, or $0.09 per diluted share, for the three months ended September 30, 2009 on revenues of $55.1 million. For the second quarter of 2009, the Company generated sales of $104.3 million and net income of $7.0 million, or $0.59 per diluted share. For the third quarter of 2008, the Company generated sales of $238 million and net income of $10.0 million, or $0.85 per diluted share.
There were no net orders for new railcars in the third quarter of 2009, compared to 694 units ordered in the second quarter of 2009, and 2,329 units ordered in the third quarter of 2008. Railcar deliveries totaled 695 units in the third quarter, compared to 1,207 units delivered in the second quarter of 2009 and 3,082 units delivered in the third quarter of 2008. Total backlog of unfilled orders was 777 units at the end of the third quarter, compared with 1,472 units at the end of the second quarter of 2009 and 4401 units at the end of the third quarter of 2008.
"The decline in order activity in the quarter illustrates that the market for new railcars remains very challenging. However, I believe we are performing well in a difficult environment," said Chris Ragot, President and CEO.
"With little visibility to a recovery in the new car market, the preservation of cash and our strong balance sheet continues to be a high priority for us. Cash and investments on-hand at the end of the quarter were approximately $134 million. Additionally, our two credit facilities are still undrawn." Cash on-hand at the end of the second quarter of 2009 was $152 million. The decrease in cash during the quarter was due to an increase in inventory due to the timing of orders and a $12.1 million pension contribution.
Selling, general and administrative expenses for the third quarter of 2009 were $6.6 million, compared to $6.7 million in the second quarter of 2009 and $7.2 million in the third quarter of 2008. Mr. Ragot stated, "Given the difficult outlook for 2010, we are taking immediate steps to further reduce costs. These actions include additional headcount and salary reductions and limits on outside services, which will result in a further meaningful reduction in spending." The gross margin rate for the third quarter of 2009 was 12.5% compared to 15.3% for the second quarter of 2009 and 9.5% for the third quarter of 2008. The decrease in the rate from the previous quarter was due to lower margins on new car sales. The increase in gross margin rate compared to the prior year was due to an increase in parts sales and leasing revenues, which carry higher margins than new car sales.
As of September 30, 2009, the Company's net investment in railcars under operating leases was $62 million, compared to $71 million at the end of the second quarter of 2009 and $36 million at the end of the third quarter of 2008. Year to date, the Company has invested $91 million in new railcars under leases and generated cash proceeds from the sale of leased railcars of $76 million.
Mr. Ragot closed by stating, "We continue to pursue several strategic initiatives to broaden and strengthen our revenue sources, including refurbishment, after-market parts and services and international expansion. We believe that patience will be rewarded as the railcar market continues to be soft, and we will be prudent in investing in opportunities as they present themselves." The Company will host a conference call on Friday, November 6, 2009 at 11:00 a.m. (Eastern Standard Time) to discuss the Company's third quarter financial results. To participate in the conference call, please dial (800) 398-9379. Interested parties are asked to dial in approximately 10 to 15 minutes prior to the start time of the call.
An audio replay of the conference call will be available beginning at 1:00 p.m. (Eastern Standard Time) on November 6, 2009 until 11:59 p.m. (Eastern Standard Time) on December 4, 2009. To access the replay, please dial (800) 475-6701. The replay pass code is 121923. An audio replay of the call will be available on the Company's website within two days following the earnings call.
FreightCar America, Inc. manufactures railroad freight cars, with particular expertise in coal-carrying railcars. In addition to coal cars, FreightCar America designs and builds bulk commodity cars, flat cars, mill gondola cars, intermodal cars, coil steel cars and motor vehicle carriers. It is headquartered in Chicago, Illinois and has manufacturing facilities in Danville, Illinois and Roanoke, Virginia. More information about FreightCar America is available on its website at www.freightcaramerica.com.
This press release contains statements that are "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. These potential risks and uncertainties include, among other things: the cyclical nature of our business; adverse economic and market conditions; fluctuating costs of raw materials, including steel and aluminum, and delays in the delivery of raw materials; our ability to maintain relationships with our suppliers of railcar components; our reliance upon a small number of customers that represent a large percentage of our sales; the variable purchase patterns of our customers and the timing of completion, delivery and acceptance of customer orders; the highly competitive nature of our industry; the risk of lack of acceptance of our new railcar offerings by our customers; and the additional risk factors described in our filings with the Securities and Exchange Commission. We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise. More information about FreightCar America is available on its website at www.freightcaramerica.com.
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(NASDAQ: RAND - Rand Capital Corp.)
LATEST NEWS!!
Rand Capital Announces $250,000 Investment in Rheonix, Inc.
BUFFALO, N.Y., Nov 6, 2009 -- Rand Capital Corporation (Nasdaq:RAND) ("Rand"), a business development company (BDC) that provides capital and managerial expertise for small to medium-sized private companies, announced that it has invested $250,000 in Rheonix, Inc. (www.rheonix.com), based in Ithaca, New York.
Rheonix began operations and was later spun out of the microfluidic division of Kionix, Inc. (www.kionix.com), also headquartered in Ithaca, New York. Kionix is a global leader in the design and fabrication of high-performance, silicon-micromachined, MEMS inertial sensors. Rheonix's novel CARD(TM) (Chemistry And Reagent Device) microfluidic technology, based on technology developed at Cornell University, provides a fully automated "point-of-care" (POC) or "point-of-use" (POU) diagnostic platform with applications in a broad spectrum of markets including human and veterinary in vitro diagnostics, biopharmaceutical manufacturing, food and beverage manufacturing, food/water safety testing, and homeland security/defense applications. The fully-integrated system permits the completely-automated analysis of "raw" samples, with all preparative, analytical, and readout functions performed on the CARD(TM), with virtually no intervention required by the analyst. Coupled with a simple computer interface that controls all functions on the CARD(TM), this powerful diagnostic platform finally provides a revolutionary means for individuals of varying technical expertise, including unskilled analysts, to easily perform rapid POC and POU testing. Rheonix also maintains a separate Corporate Development and Scientific Affairs facility in Grand Island, New York, following their 2008 acquisition of Innovative Biotechnologies International, Inc. ("IBI").
Also participating with Rand in the financing round were Cayuga Venture Fund III, L.P. (Ithaca, NY), Onondaga Venture Capital Fund, LLC (Syracuse, NY) and angel investors.
Daniel Penberthy, Executive Vice-President of Rand Capital, stated, "We have watched both Rheonix and IBI develop their technologies over the last several years, and now believe the Company is positioned with a device that will be accepted into the marketplace. The development of the Company to this stage is a credit to both the strength of its management team, and the quality of its intellectual property. We welcome the chance to work with the Company and make further investment as it continues to achieve key business milestones." Anthony Eisenhut, President and CEO of Rheonix, Inc., stated that "Rheonix is bringing to market a robust, affordable molecular diagnostic platform that allows for multi-step central laboratory assays to be completed entirely on a disposable plastic card. Our investors have recognized the world class science that has produced such practical, yet powerful innovations. We value their support as we ramp up efforts to commercialize a series of molecular diagnostic assays aimed at the infectious disease market."
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