Enzo Biochem, Inc. reported improved sequential results for the first fiscal quarter ended October 31, 2010, the result of recent programs to reduce expenses, consolidate activities and expand operations.
The Company's financial condition remained strong, with working capital of $42.1 million. As of October 31, 2010, cash and cash equivalents, plus short term investments in US Treasury Bills, totaled $31.6 million. At November 30, 2010 Enzo’s cash, and cash equivalents and short-term investments were $33.9 million, which exceeded the July 31, 2010 balance by $0.3 million. Cash utilization in operations declined year over year by approximately $1 million to $1.8 million principally due to the reduced loss in the 2011 period. Management’s plan is to move towards being cash flow positive from operations in calendar 2011. There was no debt.
Enzo Biochem, Inc., is a growth-oriented integrated life sciences and biotechnology company focused on harnessing biological process to develop research tools, diagnostics and therapeutics, and serves as a provider of test services, including esoteric tests, to the medical community. Since our founding in 1976, our strategic focus has been on the development of enabling technologies in the life sciences field.
Enzo Life Sciences develops, produces and markets proprietary labeling and detection products for gene sequencing, genetic analysis and immunological research, among others.
Enzo Clinical Labs provides laboratory services for a growing roster of physicians in the New York Metropolitan area, Eastern Pennsylvania and New Jersey. Its tests include, in addition to routine tests, capabilities for detecting molecular infection disease, molecular oncology, autoimmune disorders and genetics.
Enzo Therapeutics is a biopharmaceutical venture that has developed multiple novel approaches in the areas of gastrointestinal, infectious, ophthalmic and metabolic diseases.
In the course of the company’s research and development activities, Enzo has also developed a substantial portfolio of intellectual property asset with patent coverage across a number of key technologies
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Orofino Gold Corp. (ORFG.PK) is a China based gold producer with one producing gold mine in Colombia and an option on a strong portfolio of small producers and development/
La Azul is one producing artesanal mine in the Senderos de Oro area controlled by Orofino, it is a mixed sequence of predominantly volcanic rocks with the vien systems comprised of high grade chalcopyrite, galena and sphalerite with pyrite in quartz viens.
La (Mina) Azul/La Estrella:
* Assays of copper-gold samples ran in excess of 40g/t gold, and contain up to 8% copper, bornite and cholcopyrite.
* The interpretation and the prospectivity of this concession has been confirmed by an Orofino Qualified Person (as described by the 43-101 compliant standard).
* The area is the site of economic mining activity and it is unlikely that the true grade of gold mineralization has been determined by the crude benefication methods employed by the resident miners.
* The existing process of using mercury amalgamation to collect the free gold after grinding, followed by cyanide leach of the crushed material would not, for example, liberate gold tied up in the sulphides.
development)
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Ruth's Hospitality Group Inc. (Nasdaq:RUTH)
Ruth’s Hospitality Group, Inc., together with its subsidiaries, operates restaurants in the United States and internationally.
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Magal Security Systems Ltd. (Nasdaq:MAGS)
Magal Security Systems Ltd., together with its subsidiaries, engages in the development, manufacture, marketing, and sale of computerized security systems used to detect and deter human intrusion for civilian and military markets. The company offers perimeter security systems that enable customers to monitor, limit, and control access by unauthorized personnel to specific regions or areas.
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Uranium Resources, Inc. (Nasdaq:URRE)
Uranium Resources, Inc. engages in the acquisition, exploration, development, and mining of uranium properties, using the in situ recovery or solution mining process. It owns developed and undeveloped uranium properties in South Texas; and undeveloped uranium properties in New Mexico.
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