On Tuesday, IMRIS Inc (NASDAQ:IMRS)’s shares declined -90.16% to $0.0600.
IMRIS Inc (IMRS) declared that the Company, its partner NeuroArm Surgical Ltd., and its U.S. partner, IMRIS, Inc. have each filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.
As part of the filing, IMRIS declared that subject to a marketing process and Court approval, it intends to sell its business operations to an associate of Deerfield Administration Company, L.P. (“Deerfield”). In addition, the Company has secured a commitment for debtor-in-possession financing from Deerfield, which, in addition to IMRIS’s ongoing cash flow, will ensure it is able to continue meeting its financial obligations throughout the Chapter 11 case. During this time, IMRIS intends to conduct a marketing process for its operating businesses.
IMRIS Inc. designs, manufactures, and sells image-guided therapy solutions worldwide. The company offers VISIUS Surgical Theatres, a surgical environment that provides intraoperative vision to clinicians to assist in decision-making and enhance precision in treatment.
Emerald Oil Inc (NYSEMKT:EOX)’s shares dropped -23.27% to $5.21.
Emerald Oil Inc (EOX) declared that due to the current market environment and associated dilution to existing shareholders, it has elected not to proceed with its formerly declared public offering of common stock. As a result of the Company’s election not to proceed with its public offering, the Company will not be taking action to close the formerly declared Delaware Basin acquisition.
With the recently accomplished spring borrowing base redetermination and easing of debt covenants, Emerald will continue developing its Williston Basin leasehold position based upon original plans. With current upper-teens well returns the Company remains committed to concluding its 2015 capital expenditures program in a financially conservative manner designed to hold its acreage position while maintaining year-over-year growth in production. The Company reiterates the formerly declared 2015 guidance reflecting a $65 million capex budget, of which $42 million has been spent year to date.
Emerald Oil, Inc. operates as an independent oil and natural gas exploration and production company in the United States. The company designs, drills, and operates oil and natural gas wells. It primarily focuses on acquiring acreage and developing oil and natural gas wells in the Williston Basin located in North Dakota and Montana. As of December 31, 2014, the company controlled the rights to mineral leases covering about 122,000 net acres.
At the end of Tuesday’s trade, Jumei International Holding Ltd (ADR) (NYSE:JMEI)‘s shares dipped -14.92% to $21.61.
Jumei International Holding Ltd (ADR) (JMEI) declared its unaudited financial results for the first quarter ended March 31, 2015. The Company will host a conference call to talk about the results at 8:30 AM U.S. Eastern Daylight Time on May 22, 2015 (8:30 PM China time on the same day).
First Quarter 2015 Highlights
- Net revenues raised by 61.8% year-over-year to US$250.6 million.
- Total net GMV [1]raised by 20.3% year-over-year to US$326.5 million, primarily due to a 14.3% enhance in the number of active customers[2] and an 18.4% enhance in total orders[3].
- Gross profit as a percentage of net revenues reduced to 31.4% from 44.1% in the same period of 2014. Gross profit as a percentage of total net GMV reduced slightly to 24.1% from 25.2% in the same period of 2014. The decrease was primarily due to the Company’s shift in strategy from beauty product marketplace sales to merchandise sales that started in September 2014.
- Net income attributable to Jumei’s ordinary shareholders raised by 49.5% to US$15.7 million from US$10.5 million in the same period of 2014. Net margin attributable to Jumei’s ordinary shareholders was 6.3%, contrast with 6.8% in the same period of 2014.
- Non-GAAP net income attributable to Jumei’s ordinary shareholders[4]was US$17.2 million, an enhance of 44.5% from the same period of 2014. Non-GAAP net margin attributable to Jumei’s ordinary shareholders[4] was 6.9%, contrast with 7.7% in the same period of 2014.
Jumei International Holding Limited operates as an online retailer of beauty products in the Peoples Republic of China. The company offers beauty products, such as cosmetics, skin care, cosmetic applicators, fragrance, and body care products; and beauty products for men, and baby and children.
Midway Gold Corp (USA) (NYSEMKT:MDW), ended its Tuesday’s trading session with -13.31% loss, and closed at $0.899.
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.
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