On Thursday, InspireMD Inc (NYSEMKT:NSPR)’s shares declined -10.64% to $0.210.
InspireMD Inc (NSPR) declared its financial and operating results for the first quarter ended March 31, 2015.
Recent Operating Highlights:
Commercial
- Early commercial launch of CGuard Rapid Exchange.
- Accomplished salesforce reorganization from direct to distributor model.
REGULATORY / CLINICAL / PRODUCT DEVELOPMENT
- Declared regulatory approval to market MGuard Prime in Brazil.
- Received regulatory approval to commercialize MGuard Prime in Columbia.
FINANCIAL
- Strengthened cash position with the completion of financing on March 9th, 2015 with gross proceeds of $13.7 million.
- Continued implementation of cost containment activities, counting measures to reduce the burn rate throughout 2015.
Quarter Ended March 31, 2015 Financial Results
Revenue for the quarter ended March 31, 2015 reduced $1.0 million to $0.5 million contrast to $1.5 million during the same period in 2014. The 2015 period comprised of an predictable decline in sales volume associated with the trend of doctors increasingly using drug eluting stents rather than bare metal stents in STEMI patients and the impact of the transition to a new commercial strategy built on using third party distributors for our products.
InspireMD, Inc., a medical device company, focuses on the development and commercialization of proprietary MicroNet stent platform technology for the treatment of complex coronary and vascular diseases.
Midway Gold Corp (USA) (NYSEMKT:MDW)’s shares dropped -10.49% to $0.110.
Midway Gold Corp (USA) (MDW) declared results on modeling work at the Pan Gold Mine in Nevada. Completion of the updated mineral resource study for Pan allows us to move forward with optimizing the mine plan, updating reserves and making operational changes that will allow us to advance the Pan Mine.
Highlights of 2015 Updated Resource Study and Production Update
- The improved understanding of the geologic controls on mineralization resulted in a noteworthy change in the classification of the Pan Resource from Measured and Indicated into the Inferred category. Future drilling should enable us to move Inferred ounces to Measured and Indicated ounces.
The updated mineral resource for the Pan Project is estimated by Gustavson Associates, LLC (“Gustavson”) to be 35.9 million tonnes grading an average of 0.44 g/t Au classified as a measured and indicated mineral resource. An additional 13.9 million tonnes grading an average of 0.31 g/t Au are classified as an inferred mineral resource. All of the estimated resources are based on a 0.14 g/t cutoff.
Production continues to ramp up with about 4,300 ounces of gold produced to date. We presently have about 36,000 contained ounces of gold on the heap leach pad and most of the pad is presently under leach.
Midway Gold Corp. engages in the acquisition, exploration, and development of gold and silver mineral properties in North America. The company holds interest in the Pan and Gold Rock Projects located along the prolific Battle Mountain/Eureka gold trend; the Spring Valley property, which is located in the Spring Valley Mining District, Pershing County, Nevada.
At the end of Thursday’s trade, xG Technology Inc (NASDAQ:XGTI)‘s shares dipped -8.57% to $0.270.
xG Technology Inc (XGTI) declared that it has received an order for about $100,000 in xMax mobile broadband wireless equipment and services which will be deployed in a network to be initially installed in Escazu, Costa Rica, with plans to expand in other Latin American locations.
The xMax equipment order was received from Itellum, LLC (“Itellum”), one of four companies who have reached a formal agreement to take part in the initial xMax deployment in addition to expansion into other Latin American markets thereafter. The other partners comprise Level 3 Communications (“Level 3″), Osmin Vargas Corporacion (“OV”), and MB Technology Holdings, LLC (“MBTH”). The xMax broadband wireless networking equipment will comprise compact, high-performance access points, fixed and mobile personal WiFi hotspot devices and mobile control switching centers.
xG Technology, Inc. develops communications technologies for wireless networks worldwide. The company’s intellectual property is embedded in proprietary software algorithms designed to offer cognitive interference mitigation and spectrum access solutions to organizations in a various industries, counting national defense and rural broadband.
500.com Ltd (NYSE:WBAI), ended its Thursday’s trading session with -7.89% loss, and closed at $21.71.
500.com Ltd (WBAI) stated its unaudited financial results for the first quarter of 2015.
Temporary Suspension of Online Lottery Sales
Since March 2015, all provincial sports lottery administration centers to which the Company provides sports lottery sales services have temporarily suspended accepting online purchase orders for lottery products, in response to the Notice related to Self-Inspection and Self-Remedy of Unauthorized Online Lottery Sales, or the Self-Inspection Notice, which was jointly promulgated by the Ministry of Finance, or the MOF, the Ministry of Civil Affairs and the General Administration of Sports of the People’s Republic of China on January 15, 2015.
On February 24, 2015, the Company was informed by certain provincial sports lottery administration centers that as part of their respective self-inspection processes, such provincial sports lottery administration centers planned to temporarily suspend accepting online purchase orders for lottery products starting from February 25, 2015. On March 2, 2015, the Company was further informed by the remaining provincial sports lottery administration centers to which it provides sports lottery sales services that such provincial sports lottery administration centers also planned to temporarily suspend accepting online purchase orders for lottery products, in response to the Self-inspection Notice.
First quarter 2015 Operational Results
Active Users
Active users reduced by 12.9% from about 984,000 in the fourth quarter of 2014 to about 857,000 during the first quarter of 2015, primarily due to the adverse impact caused by the temporary suspension.
500.com Limited provides online sports lottery services in the Peoples Republic of China. It operates as an aggregator and processor of lottery purchase orders from its registered user accounts.
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