Pennytobucks Update On Zmgd, Ctic, Bebe
Zamage Digital Art Imaging, Inc
Zamage Digital Art Imaging, Inc. (Other OTC: ZMGD.PK) and its subsidiary EverdowCRM recently completed Business Platform System for Minsheng Bank in China. This banking software carries a Risk Monitoring System, which provides safe and secure banking to customers who use Minsheng Banks online banking platform. Recently, the bank contracted EverdowCRM for development of another Business Platform.
The contract is worth RMB 900,000 ($130,000 USD). EverdowCRM signed a contract with ShenZhen Development Bank (SDB). The estimated value of this project is RMB 800,000 (approximately US $117,000).
Note: Worldwide CRM software revenues were projected to surpass $8.9 billion in 2008, a 14.2 % increase from 2007 revenue estimates of $7.8 billion (Gartner, Inc.), and the CRM market shows a healthy growth potential through 2012, with revenue reaching around $13.3 billion.
Recently, ZMGD and its subsidiary EverdowCRM completed a series of six iPhone Tibet Travel applications. Hello Tibet has been posted in Apple App Store in two languages: Simplified Chinese and Traditional Chinese.
Note: Apple allows 70% of revenues from the store to instantly go to the seller of the app, and 30% go to Apple.
The software had been previously sold in other countries (USA, UK, Canada, Belgium, Germany, Italy, Singapore and Austria), and the company expects for this app to generate larger revenues in the coming months.
For more information about this company ( ZMGD) please visit http://www.zamagedigitalcorp.com
Cell Therapeutics, Inc. (Nasdaq: CTIC) announced that it has submitted an expanded Pediatric Investigation Plan (PIP) to the European Medicines Agency (EMEA), as part of the process for its submission for a Marketing Authorization Application (MAA) for pixantrone in the E.U. for the treatment of relapsed or refractory, aggressive non-Hodgkins lymphoma (NHL). CTI intends to file the MAA later this year.
The pediatric program will study pixantrone in pediatric patients aged 6 months to 18 years with the goal of determining the comparative safety and effectiveness of pixantrone compared to doxorubicin in pediatric lymphoid cancers.
CTI submitted the original PIP in September 2009. In April 2010, the EMEA Pediatric Committee (the PDCO) recommended CTI expand the PIP because of pixantrones potential, but unproven, clinical benefit to children in reducing long-term cardiotoxicity associated with current curative therapies. The recommendation from the PDCO came following discussions with CTI about the preclinical and clinical pixantrone data, including PIX301, and the desire to explore the potential benefits pixantrone may offer to children with hematologic cancer.
Headquartered in Seattle, CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable. For additional information, please visit www.CellTherapeutics.com.
bebe stores, inc. (Nasdaq:BEBE) announced that it will discontinue operations of its PH8 division, allowing the company to focus its efforts on improving bebe sales and profitability as well as continuing to develop its 2b bebe concept, including the possible conversion of certain current PH8 stores to 2b bebe stores.
The company estimates the total pre-tax cost associated with closing or converting its 48 PH8 stores will be approximately $17 million. This $17 million includes an estimated $2 million related to the write-off of the net book value of the stores assets and up to $1 million to mark down inventory to the lower of cost or market; both non-cash charges will be recorded in the fourth quarter of fiscal 2010. The $17 million also includes an estimated $14 million related to future lease liabilities and potential salary expenses, both cash charges which the company expects to record as the stores close. The company will begin to close or convert the PH8 stores during the first fiscal quarter of 2011 and believes all 48 stores will all be closed or converted during fiscal 2011.
The company made this decision based on the approximate after tax loss of $10 million during fiscal 2010, before taking into account costs associated with store impairment charges.
bebe stores, inc. is a company with fiscal 2009 revenues of over $600 million. We market our products under the bebe, PH8, and 2b bebe brand names through our specialty retail stores in the United States, the District of Columbia, Puerto Rico, the U.S. Virgin Islands and Canada; and Internationally licensed stores around the world (for a listing of these International licensed locations see our store locator). There is also an online store at bebe.com.
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by: Bill Pennyman
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