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

including Mr., Mayer, and 5% of which was given to persons, including Mr. Mayer, who assisted in the transaction, and approximately $1,360,000 was contributed by the new owners as capital to Powersafe. Mr. Mayer and his wife acquired approximately 27.2% of the issued and outstanding shares of Powersafe in the transaction.

Powersafe used approximately $1,280,000 to purchase non convertible Series C Preferred Stock issued by Amplification and approximately $730,000 of such proceeds were used by Amplification to redeem non-convertible preferred stock of Amplification held by Mr. Mayer and a member of his family. The Series C Preferred shares have a 2% monthly pay in kind dividend, restrictive covenants including a prohibition on funded debt and the issuance of securities which are senior or pari passu to the Series C Preferred, are redeemable by the Registrant on February 14, 2009, and are slated to be retired as part of the merger.

The closing of the merger, which is expected by the end of May, 2008, will occur when all the customary conditions in the merger agreement are satisfied, including the delivery of audited financial information of Amplification,

For more information about the transaction, see the Current Reports on Form 8-K filed by Powersafe on April 4, 9 and 11, 2008 with the Securities and Exchange Commission.

This Press Release contains forward-looking statements relating to future activity, including the closing of the merger and operational and business prospects. The Company's results may be affected by, among other factors, business abilities and judgment of personnel, availability of qualified personnel, results of the prototypes, and changes in, or failure to comply with various government regulations.

For further information, please contact Jack N. Mayer at Amplification Technologies - 718 951 8021


'/>"/>
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:7/30/2015)... ST. LOUIS, July 30, 2015 ... period in 2014) , Reported sales were $697 ... of 2014.  Sales grew organically by 8%, and changes ... Recent acquisitions increased sales by 1%. , By ... 8% in Applied and 11% in SAFC Commercial. ...
(Date:7/30/2015)... , ... July 30, 2015 , ... As part of its 2015 growth plan and ... and technical service business units, Whitehouse Laboratories is pleased to announce that it ... to the Container Center of Excellence and will be strictly dedicated to basic USP 51, ...
(Date:7/29/2015)... July 30, 2015 Sanofi, ... for the second quarter of 2015. CEO ... and its performance in different businesses. ... http://www.eurobusinessmedia.com/ceo-direct/sanofi/sanofi-h1-2015-results-interview-with-ceo-olivier-brandicourt?utm_source=ceo-direct&utm_medium=wire Topics covered in ... - Performance drivers - ...
(Date:7/29/2015)... July 30, 2015 According to a ... Growth, Trends & Forecasts (2015-2020), , published by Mordor Intelligence, ... billion by the end of 2020, with North ... more than 40% of the global market size. The Global ... CAGR of 13.7% during the period of (2015-2020). ...
Breaking Biology Technology:Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 2Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 3Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 4Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 5Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 6Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 7Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 8Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 9Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 10Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 11Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 12Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 13Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 14Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 15Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 16Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 17Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 18Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 19Sigma-Aldrich (NASDAQ - SIAL) Reports Q2 2015 Sales Of $697 Million And Adjusted Diluted EPS Of $1.01 20Whitehouse Labs Formally Announces Plans to Open a Microbiological Laboratory 2Asia Pacific to Dominate the Global Stem Cell Market - Vericel Corporation, Ocata Therpeutics, Athersys Inc., Cryo-Cell International, Geron Corporation, StemCells, Inc. Among the Major Players 2Asia Pacific to Dominate the Global Stem Cell Market - Vericel Corporation, Ocata Therpeutics, Athersys Inc., Cryo-Cell International, Geron Corporation, StemCells, Inc. Among the Major Players 3
... owe their existence to a pair of information-carrying molecules: ... features essential for life: they display hereditymeaning they can ... adapt over time, through processes of Darwinian evolution. ... could be performed by molecules other than DNA and ...
... N.C. -- By developing software that uses 3-D models of ... Duke University has identified several new molecules that may ease ... created by the team predict how well a given molecular ... in cystic fibrosis. To test the predictions, the scientists synthesized ...
... based on nanoimprinting techniques (NIL) is evolving at a rapid ... overcome in order to reach the market? How do we ... the industry? What are the tools needed for each product? ... tags to life science products were discussed by more than ...
Cached Biology Technology:Strange cousins: Molecular alternatives to DNA, RNA offer new insight into life's origins 2Strange cousins: Molecular alternatives to DNA, RNA offer new insight into life's origins 3Strange cousins: Molecular alternatives to DNA, RNA offer new insight into life's origins 4Computer-designed molecules point to new therapy for cystic fibrosis 2Computer-designed molecules point to new therapy for cystic fibrosis 3Tackling the European market of nanoimprint lithography 2
(Date:7/31/2015)... NXT-ID, Inc. (NASDAQ: NXTD ) ("NXT-ID" or ... growing mobile commerce market and creator of the Wocket® ... 62/198989 for ELECTRONIC CRYPTO-CURRENCY MANAGEMENT METHOD AND ... advance crypto-currencies such as Bitcoin into the consumer market ... to manage all payments.  The technology ...
(Date:7/23/2015)... BEDFORD, Mass., July 23, 2015 Aware, Inc. (NASDAQ: ... services, today reported financial results for its second quarter ended ... quarter of 2015 was $4.5 million, a decrease of 33% ...  Net income in the second quarter of 2015 was $0.3 ... million, or $0.04 per diluted share, in the same period ...
(Date:7/20/2015)... , July 20, 2015  Acuity Market Intelligence,s ... The Convergence of Commerce and Privacy" forecasts that ... biometric apps will be downloaded to smart mobile ... mobile biometrics market is projected to generate more ... during the seven-year forecast period.    ...
Breaking Biology News(10 mins):NXT-ID Patents Electronic Crypto-Currency Management Technology 2NXT-ID Patents Electronic Crypto-Currency Management Technology 3NXT-ID Patents Electronic Crypto-Currency Management Technology 4Aware, Inc. Reports Second Quarter 2015 Financial Results 2Aware, Inc. Reports Second Quarter 2015 Financial Results 3Aware, Inc. Reports Second Quarter 2015 Financial Results 4Aware, Inc. Reports Second Quarter 2015 Financial Results 5Aware, Inc. Reports Second Quarter 2015 Financial Results 6Biometrics on Smart Mobile Devices to Redefine Digital Identity with 12.9 Billion Biometric App Downloads between 2014 and 2020 2
... and students will come together at the Fine Conference ... Mellon University to explore how science research and education ... large digital images containing billions of pixels. , Alan ... Worden, director of NASA,s Ames Research Center, and Mark ...
... to be presented at the EORTC-NCI-AACR [1] Symposium on "Molecular targets ... meeting at 00.01 hrs CET on Friday 29 October. The Symposium ... to report on the online abstracts from the time that they ... mind that all the abstracts had to be submitted by 15 ...
... in French . Quebec City, October ... death of pancreatic cells and could increase the risk of ... Laval,s Faculty of Pharmacy. Details of this discovery were recently ... . In vitro tests conducted by Professor Frdric Picard ...
Cached Biology News:'Science never seen before' is focus of first scientific conference on gigapixel imaging 2Abstracts for the EORTC-NCI-AACR Symposium in Berlin go up online on Friday, Oct. 29 2Glucosamine causes the death of pancreatic cells 2
... is the ultimate in convenience, sensitivity ... been specifically designed to streamline the ... Kit combines the unique Reverse-iT™ Blend ... DNA Polymerase to provide a highly ...
...
... Protein A and Protein G bind specifically ... Protein A and Protein G conjugates are ... immunoglobulins (antibodies) and immunoglobulin subtypes from serum, ... other biological fluids. These reagents are also ...
... wide variety of environmental and pathophysiological stressful ... of proteins known as heat shock proteins ... proteins (SRPs). The Hsp90 family of ... alpha and beta, Grp94, and Trap-1 (Hsp75). ...
Biology Products: