Proteonomix, Inc. (OTC.BB:PROT), a biotechnology company focused on developing therapeutics based upon human cells and their derivatives, announced further developments with its Joint Venture Company, XGEN Medical LLC (“XGen”) towards implementing operations in the United Arab Emirates (U.A.E.).
Proteonomix is the majority shareholder in XGen with the balance held by an anonymous investor group. Proteonomix personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting Proteonomix personnel on Jumeira 2.
Proteonomix CEO, Michael Cohen commented that “The business environment in the U.A.E. is very receptive to Proteonomix and our medical technologies. There is an intense focus on high quality public medical care as well as cutting edge technology. When combined with the rebounding financial condition within the region, we are very pleased to have this opportunity to conduct business in a growing location for medical advancement.”
Dex One Corporation (NYSE: DEXO) and SuperMedia announced a cross-distribution agreement that allows both companies� advertisers to have their business profiles and other enhanced content appear on both Superpages.com and DexKnows.
The agreement presents several benefits to both advertisers and consumers. It adds significant value to advertisers by extending their reach to potential customers and increases the ability to generate quality leads. It also provides consumers with access to more comprehensive and relevant information, regardless of which site they may be searching for local business information.
Dex One Corporation is a leading marketing solutions company that helps local businesses reach, win and keep ready-to-buy customers. The company�s highly-skilled, locally based marketing consultants offer a wide range of marketing products and services that help businesses get found more than 1.5 billion times each year by actively shopping consumers
DHT Holdings, Inc. (NYSE:DHT) reported revenues for the period from April 1 to June 30, 2010, of $21.1 million, compared to revenues of $26.2 million for the prior-year period. The decrease in year-over-year revenues primarily reflects the lack of revenues under the Company’s profit-sharing arrangements with OSG as charterer of DHT’s vessels and a $1.2 million underperformance bunker claim. In the comparable 2009 period, the Company realized $4.2 million in additional revenues under the Company’s profit-sharing arrangements.
The Company reported a net loss of $2.0 million, or $0.04 per diluted share, for the second quarter of 2010, compared to net income of $5.0 million, or $0.10 per diluted share, for the second quarter of 2009. After adjusting for non-cash financial items related to interest rate swaps, net loss for the second quarter of 2010 was $1.0 million, or $0.02 per share. Free cash flow from operations was $6.0 million, or $0.12 per share2.
Randee Day, Acting Chief Executive Officer, stated, “We are pleased that the reliability of our contracted revenues and stable vessel values enables the company to pay a dividend again this quarter of $0.10 per share. As previously advised, this quarter was impacted by the costs associated with our CEO change and the MMI settlement. These additional expenses increased G&A by $1.1 million. Also, our results were impacted by higher vessel operating expenses related to additional work and purchase of spare parts in connection with our two interim surveys as well as an underperformance claim due to an unexpected delay in scrubbing of the hulls of the VLCC’s. “
DiamondRock Hospitality Company (NYSE:DRH) has acquired the 169-room Hilton Garden Inn Chelsea New York City. The purchase price of $68.4 million represents a 12.9 multiple of 2010 EBITDA and a 7% capitalization rate on 2010 net operating income.
The Hotel is recently constructed and opened at the end of 2007. The Hotel occupies a convenient location in Chelsea on West 28th Street, between 6th and 7th Avenues in New York City. Chelsea has become one of the most desirable 24-hour destinations in Manhattan given its abundance of restaurants, nightlife and shopping. The location produces leisure demand from its close proximity to prime travel destinations such as Times Square, the Empire State Building and Madison Square Garden. Moreover, Chelsea derives strong business transient demand from its central access to both Midtown and Downtown as well as major transportation hubs. Importantly, the Hotel is located only one block from a Subway Station.
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of premium hotel properties. Including the acquisition of the Hilton Garden Inn Chelsea New York City, the Company owns 23 hotels with over 10,700 rooms as well as the senior note on a 443-room hotel.
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