Benzinga's Microcap Movers for Monday April 30, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Bio-Matrix Scientific Group
Shares of Bio-Matrix Scientific Group (BMSN), the La Mesa, CA biotechnology company, rose 85.00% Monday on 258 times the average daily volume.
Bio-Matrix Scientific Group announced Monday it has formed a new subsidiary, Regen BioPharma. Regen BioPharma has developed a vertically-integrated structure for acquiring patents, performing accelerating preclinical and clinical development, and licensing or selling technology developed to large pharma companies in the area of stem cells.
To date, Regen BioPharma has reviewed more than 20,000 US issued patents covering stem cell related subject matter, created a shortlist of 30 promising technologies for rapid commercialization, and currently is in negotiations to license several of these. Once the technology is secured, the Company anticipates partnering with industry leading scientists, physicians, and service providers to complete the Investigational New Drug-enabling work and begin clinical trials.
The Company also announced that it has secured $20,000,000 in financing from Southridge Partners II, LP of Ridgefield, CT.
Bio-Matrix Scientific Group closed at $0.04 on Monday.
Imperial Holdings (NYSE: IFT), the Boca Raton, FL specialty finance company, rose 29.83% Monday on 24 times the average daily volume.
Imperial Holdings announced Monday that the Company and the U.S. Attorney's Office for the District of New Hampshire have entered into a Non-Prosecution Agreement relating to the USAO's investigation into the Company's premium finance business.
Under the terms of the NPA, the USAO has agreed not to prosecute Imperial for any crimes related to Imperial's involvement in the making of misrepresentations on life insurance applications and has agreed not to prosecute Imperial for any potential securities fraud claims related to its premium finance business.
Imperial Holdings closed at $3.83 on Monday.
Shares of Emmis Communications (NASDAQ: EMMS), the Indianapolis, IN media company, rose 18.27% Monday on almost 5 times the average daily volume.
Emmis radio station WRKS, known as Kiss-FM, merged with long-time rival WBLS last week. WBLS is being taken over by investment group YMF Media, who paid $10 million to Emmis for WRKS. Disney (NYSE: DIS) will pay Emmis $8 million per year to lease the vacant 98.7 FM frequency. Emmis Communications closed at $1.23 on Monday.
The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.
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