Taxs, Jtx,pwrm,vrml And Merck Stock Update From Pennytobuck
TaxMasters, Inc
TaxMasters, Inc. (OTC BB:TAXS), the IRS tax relief company and a leading provider of tax representation services, recently completed shooting a new television ad that will begin airing this fall. TaxMasters television commercials are identifiable almost immediately. Featuring the founder and CEO, Patrick Cox, the typically 30-second spots deliver a direct and clear message to taxpayers who are experiencing difficulties with the IRS. The television ads have varied slightly over the years, but stick to the same core messaging delivered by the easily recognizable tax expert with a beard, Patrick Cox.
Jackson Hewitt Tax Service Inc. ("Jackson Hewitt") (NYSE:JTX) filed a Form 10-K/A with the Securities and Exchange Commission ("SEC") , for the purpose of correcting certain errors in its Consolidated Statement of Cash Flows for fiscal 2010, as originally presented in Jackson Hewitt's Annual Report on Form 10-K that was filed with the SEC on July 14, 2010. The aggregate amount of the reclassification of these errors within the Consolidated Statement of Cash Flows was $6.4 million, and there was no net change to the previously reported increase in cash and cash equivalents or the ending cash balance for the year.
Power3 Medical Products, Inc. (OTCBB:PWRM) announced that, in collaboration with Lourdes R. Bosquez, MD, it has unexpectedly discovered new and unprecedented findings regarding clinically important differences in the response of the NuroPro protein biomarkers in the blood of untreated Alzheimers disease patients compared to patients treated with the widely used anti-dementia drugs Aricept (Donepezil HCl, Pfizer NYSE: PFE), Exelon (Rivastigmine, Novartis NYSE: NVS), and Namenda (Memantine HCl, Forest Laboratories NYSE: FRX). These results relate to the genetically distinct groups of Alzheimers disease patients, i.e., those individuals who possess the Alzheimers high-risk gene for Apolipoprotein E4 and those who do not possess the gene.
Vermillion, Inc. (Nasdaq:VRML), a molecular diagnostics company, reported financial results for the second quarter ended June 30, 2010. Revenues for the second quarter of 2010 were $344,000 compared to none for the second quarter of 2009 and $73,000 for the first quarter of 2010. Revenues for the second quarter of 2010 included $45,000 from product sales of OVA1 and $299,000 of license revenue related to the Company's achievement of certain milestones under the Strategic Alliance Agreement with Quest Diagnostics. As of June 30, 2010, the Company's cash and short-term investments totaled $29.0 million.
Merck & Co., Inc. announced that, as of the close of business on August 13, 2010, the outstanding shares of the companys 6.00% Mandatory Convertible Preferred Stock (NYSE:MRK-PB) will mandatorily convert by their terms into a right to receive cash and shares of Merck common stock (NYSE:MRK). For each share of Preferred Stock, holders will receive $85.06 in cash ($10.50 x a Cash Conversion Rate of 8.1011) and 4.6719 shares of Merck common stock (0.5767 shares x a Share Conversion Rate of 8.1011).
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by: Bill Pennyman
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