Navigation Links
Powersafe Technology Corp. Recapitalizes, Executes Merger Agreement with Amplification Technologies, and Invests in Amplification
Date:4/11/2008

VALLEY STREAM, N.Y., April 11 /PRNewswire-FirstCall/ -- Powersafe Technology Corp. (OTC Bulletin Board: "PWSF") has entered into a merger agreement with Amplification Technologies, Inc., a privately held Delaware corporation. Pursuant to the terms of the merger agreement, Amplification will merge with a wholly-owned subsidiary of Powersafe in exchange for approximately 31,500,00 shares of Powersafe to be newly issued to shareholders of Amplification and reserved for the exercise of options and conversion of convertible preferred. Powersafe will also assume approximately $700,000 of non-convertible preferred. Powersafe currently has 7,075,000 shares of common stock issued and outstanding and no other issued securities, warrants or options in its capital structure. Effective as of March 31, 2008, Jack N. Mayer, the controlling stockholder of Amplification, was appointed as a director and President of Powersafe.

Amplification is a Delaware corporation formed in May 2002 whose scientists have invented an extremely sensitive photodetector technology that it believes has significant performance and cost advantages over traditional technology and is positioned as a next generation solid state technology for low level light detection. Amplification's platform semiconductor technology, which allows amplification with very low noise of weak signals, is in principle applicable to, and has been patented to encompass, detection of signals other than light, and thus could in principle be used to create very sensitive biological, radiological, electrical, and chemical sensors. Amplification's website is http://www.amplificationtechnologies.com.

In connection with the merger agreement, a group of investors invested an aggregate of $2,000,000 in a transaction in which $625,000 was used to acquire 100% of the issued and outstanding stock of Powersafe, 95% of which was acquired by the investors,
'/>"/>

SOURCE Powersafe Technology Corp.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2

Related biology technology :

1. Loma Linda University Partners With Larta Institute for Technology Marketing Program
2. Slow federal action to oversee nanotechnology leaves room at the bottom
3. Genetic Engineering and Biotechnology News (GEN) Blog: International Students in the United States - A Diminishing Pool of Talent for Biotech?
4. Genetic Engineering and Biotechnology News (GEN) Presents Exclusive Podcast with Robert Langer, Ph.D. on New Polymeric Drug Delivery Systems
5. HemoGenix(R), Inc. Receives Issued Patent for its HALO(R) Technology Platform From the United States Patent and Trademark Office (USPTO).
6. Sangamo BioSciences Announces License Agreement For the Use of ZFP Technology For Generation of Transgenic Animals
7. Nanosized technology has supersized effect on tumors
8. Hybrid computer materials may lead to faster, cheaper technology
9. Raven biotechnologies and Bioprocessing Technology Institute Announce Collaboration to Advance Discovery of Stem Cell Antibodies
10. Lentigen Licenses Fundamental Lentiviral Vector Technology Patent From the University of Cambridge
11. Genetic Engineering & Biotechnology News reports on cancer biomarkers
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/28/2014)... Best Sanitizers, Inc., a leader in hand ... is asking industry professionals to prepare for fall harvest ... soap they’re currently using to the Best Sanitizers’ ... hygiene is critical to fighting cross-contamination and the spread ... criteria are identified to evaluate the effectiveness of an ...
(Date:8/28/2014)... Ind. A new research platform uses ... of tiny structures undergoing stress and heating, ... improve designs for microelectronics and batteries., This ... information about how heating and the surface ... properties. Researchers have discussed the merits of ...
(Date:8/28/2014)... Willow Grove, PA (PRWEB) August 28, 2014 ... talent, and create a culture that will allow individuals ... that are becoming increasingly important for employers looking to ... life science industries are embracing this trend, as the ... the fabric of a company, which will have real ...
(Date:8/28/2014)... (PRWEB) August 28, 2014 Sterlitech is ... polymeric membranes to its stable of products . ... molecular weight cut-offs and include membrane filters with surface ... increase in customer demand for our membrane process testing ... variety of flat sheet membranes,” explains Sterlitech President Mark ...
Breaking Biology Technology:Best Sanitizers, Inc. Asks Food Industry Professionals: With Fall Harvest On the Way, Is Your E2 Hand Soap Up to the Task? 2New analytical technology reveals 'nanomechanical' surface traits 2New analytical technology reveals 'nanomechanical' surface traits 3Klein Hersh International Leads Philadelphia Area Life Science Industry in Company Culture 2Klein Hersh International Leads Philadelphia Area Life Science Industry in Company Culture 3Sterlitech Corporation Enhances Its Selection of Flat Sheet Membrane Filters 2
... July 15 Amsterdam,Molecular Therapeutics (Euronext: AMT), a ... announced the start of a collaboration with St. ... the development,of a gene therapy treatment for Hemophilia ... commercial rights to the final product. The,combination of ...
... A report published in the July 8 issue of ... Sciences ( PNAS ) is the first to ... of tiny nanoclusters of metallic gold. The study, which ... the work of researchers at four universities on two ...
... HealthSonix, Inc.,(Pink Sheets: HSXI)(FWB:H7S) today announced that ... purchased two wholly owned,subsidiaries of HealthSonix, Inc. ... "Selling the two operating companies to Innovative ... the companies to,resume full operations and get ...
Cached Biology Technology:AMT Starts Collaboration With St. Jude Children's Research Hospital on Gene Therapy for Hemophilia B. Company Accesses Exclusive Commercial Rights to Final Therapy 2AMT Starts Collaboration With St. Jude Children's Research Hospital on Gene Therapy for Hemophilia B. Company Accesses Exclusive Commercial Rights to Final Therapy 3AMT Starts Collaboration With St. Jude Children's Research Hospital on Gene Therapy for Hemophilia B. Company Accesses Exclusive Commercial Rights to Final Therapy 4Study reveals principles behind stability and electronic properties of gold nanoclusters 2Study reveals principles behind stability and electronic properties of gold nanoclusters 3Study reveals principles behind stability and electronic properties of gold nanoclusters 4HealthSonix Sells Operating Subsidiaries to Innovative Health Sciences 2
(Date:8/28/2014)... MD FASEB MARC (Maximizing Access to Research ... for the American College of Sports Medicine,s Conference ... 2014 in Miami, Florida. These awards are ... doctorates and scientists from underrepresented groups into the ... encourage the participation of young scientists at the ...
(Date:8/28/2014)... PA, August 28, 2014 Dyslexia, the most ... is a neurological reading disability that occurs when ... language don,t function normally. , The use of ... brain activity is disrupted in dyslexia. However, most ... number of brain regions, leaving a gap in ...
(Date:8/28/2014)... and mould in homes could pose a significant health risk ... in the Journal of Allergy and Clinical Immunology . ... eight different countries, the research has found that the presence ... in asthma sufferers, as well as increasing the likelihood of ... a team at the University of Exeter Medical School and ...
Breaking Biology News(10 mins):Dyslexic readers have disrupted network connections in the brain 2Indoor mold poses health risk to asthma sufferers 2
... HOUSTON -- (Aug. 16, 2010) -- A new ... and other human activity has completely obscured the natural ... "The natural factors that influence carbon dioxide cycling ... the radiocarbon signature of the river to reflect those ...
... of some of the most repugnant smells on earth, but ... has a sense of smell of its own. A team ... first time that bacteria have a molecular "nose" that is ... today in Biotechnology Journal , their study shows how ...
... infrared laser can make a heart beat faster. Scientists ... pulsed light can pace contractions in an avian embryonic heart, ... pacing of the embryonic heart," will be published in the ... 15, 2010. According to the scientists, this non-invasive device ...
Cached Biology News:A river flipped: Humans trump nature on Texas river 2A river flipped: Humans trump nature on Texas river 3Bacteria breakthrough is heaven scent 2A heart beats to a different drummer 2
Recognizes the 41 and 43 kDa G-proteins present in liver plasma membranes and Gq/11alpha expressed in the Sf9 insect cell expression system. Negative for recombinant G(I)alpha subtypes....
Pancreatic Cell Cryopreservation Medium (2X) is intended for the cryopreservation of LT2 Immortalized Pancreatic Mesenchymal Cells (SCR013) and VIT1 Primary Pancreatic Mesenchymal Cells (SCR014)....
LAB/Probe Mouse-Rabbit DAB Kit...
Mouse monoclonal [SH-A1] to S100 alpha ( Abpromise for all tested applications). entrezGeneID: 6271 SwissProtID: P23297...
Biology Products: