Insights about U.S. Stocks that landed in the Red-Zone during Thursday’s trade, are depicted underneath:
Axion Power International, Inc (NASDAQ:AXPW)’s shares dwindled -18.26%, and closed at $0.192, hitting new 52-week low of $0.19.
Formerly on February 28, Axion Power International Inc. (AXPW), a developer of advanced lead-carbon PbC® batteries, energy storage systems and frequency regulation systems, recently declared a planned marketing, sales and reselling contract with privately owned Portland OR-based Pacific Energy Ventures LLC (PEV), a technology and project development firm specializing in the renewable energy and energy storage sectors. Under the contract, PEV will represent Axion Power and its PbC-based products nationally on a non-exclusive basis, initially focused in the area that comprises the power grid of PJM Interconnection LLC, a Regional Transmission Organization serving all or parts of 13 states in the Northeast and the District of Columbia. PEV will promote the sale of PbC and PowerCube products for use with renewable energy and energy storage projects.
Axion Power Chief Operating Officer, Phil Baker, commented, “Axion is a clean energy technology corporation with noteworthy intellectual property counting the patented carbon technology in our PbC energy storage and frequency regulation platform. This important contract with PEV, a corporation with noteworthy experience in the renewable energy sector across the United States and in certain markets abroad, aligns us with innovative and successful sales and distribution experts in order to both market and sell Axion’s PbC technology. This is not an contract that will lead to a new layer of testing before something happens. We believe PEV will hit the ground running right away.”
PEV Senior Partner Steven Kopf noted that PbC technology has proven itself in frequency regulation through its work on the PJM grid on a daily basis for more than two years.
PEV will be working collaboratively with E/W Capital (New York City and Newport Beach, CA), which has a proven track record for financing solar energy projects in the PJM area and elsewhere.
Pacific Energy Ventures is a technology and project development firm specializing in the renewable energy and energy storage sectors. Recent projects comprise working with the US Department of Energy, the US Navy, the University of Hawaii and the Oregon Wave Energy Trust to develop the Azura wave energy technology.
Capnia Inc (NASDAQ:CAPN), declined -15.77%, and closed at $7.37.
Capnia, Inc. (CAPN), focused on the development of novel products based on its proprietary technologies for precision metering of gas flow, recently declared the closing of a privately negotiated transaction (the “Private Transaction”) with certain holders of Capnia’s Series B warrants (the “Series B Warrants”) who agreed to exercise their Series B Warrants to purchase an aggregate of 557,160 shares of Capnia’s Ordinary Stock at an exercise price of $6.50 per share, resulting in gross proceeds to the Corporation of about $3.6 million. Series B Warrants to purchase an aggregate of 2,449,605 shares of Capnia’s Ordinary Stock were originally issued as part of the Corporation’s initial public offering on November 18, 2014. In connection with this exercise of Series B Warrants, Capnia issued to each investors who exercised Series B Warrants, new warrants (each, a “Series C Warrant”) for the number of shares of Ordinary Stock underlying the Series B Warrants that were exercised. Each Series C Warrant will be exercisable at $6.25 per share and will expire on March 5, 2020. The cashless exercise feature that was contained in the Series B Warrant that results in an increasing number of shares of Ordinary Stock issuable without consideration as the price of the Ordinary Stock decreases is not contained in the Series C Warrants.
Capnia intends to offer to all remaining holders of Series B Warrants following a formal tender/ registered exchange offer process after the date hereof the opportunity to exercise the Series B Warrants held by them and receive Series C Warrants on the same basis as in the Private Transaction. To the extent that any such holders of Series B Warrants do not choose to take part in the tender offer/registered exchange offer, their Series B Warrants will remain outstanding and unmodified.
Capnia, Inc. develops and commercializes novel products based on its proprietary technologies for precision metering of gas flow. Capnia’s lead product is CoSense(R), which aids in the detection of hemolysis, a dangerous condition in which red blood cells degrade rapidly. CoSense, based on the Sensalyze(TM) Technology Platform, is a portable, non-invasive device that rapidly and accurately measures carbon monoxide in exhaled breath. CoSense has 510(k) clearance from the FDA and has been commercially launched in the U.S.
Ceres Inc (NASDAQ:CERE), dipped -14.15%, and closed at $0.455.
Formerly on February 26, Ceres, Inc. (CERE), declared that it has achieved Gold Partner status in Oracle PartnerNetwork. In attaining Gold Level membership, Ceres has been recognized by Oracle for its commitment to establish Oracle-related knowledge in delivering Ceres’ Persephone genome visualization software and for uniquely addressing the challenges of joint customers.
Originally developed for in-house use by Ceres, the Persephone application allows researchers to rapidly zoom in and out of massive amounts of genetic data, from a chromosome level to a single building block of DNA. On top of this data, users can layer and cross reference related information in much the same way geographic mapping services allow users to add weather information or business locations to a geographic map.
Tim Swaller, Ceres Vice President of Genomics, said that becoming a Gold Level member of Oracle PartnerNetwork enables the corporation to leverage its knowledge in genomics alongside the performance and reliability of the Oracle platform, which handles large datasets through efficient memory administration and a solid software architecture.
“Low cost DNA sequencing, from plant science to biomedical research, is creating large datasets that are rich sources for innovation if mined effectively,” said Swaller. “By combining data administration solutions and other optimizations in our Persephone software with a trusted database technology like Oracle, we can assist provide researchers with a high-performance environment to securely store, visualize and explore integrated genomics datasets in ways not possible or practical before.”
Ceres presently offers Persephone as a custom installation in addition to a Software as a Service (SaaS) model that is intended to provide individual researchers with a tool to visualize and compare genetic information stored in public databases. Persephone can be used with a number of life science technology platforms that utilize genetic and genomic data.
Ceres, Inc. is an agricultural biotechnology corporation that develops and markets seeds to produce crops for bioenergy and other markets that utilize plant biomass. The corporation combines advanced plant breeding and biotechnology to develop hybrids that can address the limitations of first-generation bioenergy feedstocks.
Corporate Resource Services Inc (CRRS), the stock closed at $0.0620.The company has the market capitalization of $9.80M. The beta value of the stock is 7.08. On the other hand the stock’s volatility for the week is 51.05%, and for the month is 66.00%.
Formerly On February 27, Habib Noor declared that Noor Staffing Group, LLC has reached an contract to purchase all assets of Corporate Resource Development, Inc. (CRD). CRD is a subsidy of Corporate Resource Services Inc. (CRS), listed on NASDAQ:CRRS. The declaration was warmly greeted by the New York headquarters staff of CRD.
Habib Noor is the sole owner of, SearchPoint, Noor Staffing Group, Ideal Talent Solutions and GHG group of companies. These staffing and recruiting firms serve a diverse set of national and local clients counting federal and state agencies, operating in 26 states. Habib Noor has been a veteran leader in the recruiting and staffing industry since 1995 and has extensive experience acquiring financially stressed companies. In 2011, Mr. Noor purchased the GHG group of companies, a distressed corporation; by 2014 it was listed as the 9th fastest growing corporation in central Pennsylvania. Noor Staffing Group will bring financial stability, improved business operations and a dedication to excellence to CRD’s list of over 300 valued clients and 1,500 internal and contingent employees, nationwide through seven offices.
Mr. Habib Noor stated: “As a veteran of the staffing industry, we are bringing both financial and operational order to this stressed corporation; we are positioned to do so due to our financial diligence, stability and also our experience. We are implementing a plan to ensure the continuity of business operations and payroll for all internal and contingent employees. We will continue to support and serve all of CRD’s current clients without interruptions while working diligently to secure their continued trust.”
Corporate Resource Services, Inc. provides diversified technology, staffing, recruiting, and consulting services in the United States. It offers trained employees in the areas of insurance, information technology, accounting, legal, engineering, science, healthcare, life sciences, creative services, hospitality, retail, general business, and light industrial work.
