New York, NY -- (SBWIRE) -- 02/11/2013 -- Organovo Holdings, Inc. (OTCQX: ONVO) announced its intention to redeem two classes of outstanding warrants initially issued to investors participating in private placement financings in 2011 and 2012.
The warrant redemption will raise non-dilutive capital, enable Organovo to significantly improve its balance sheet, help position the Company to qualify to list its common stock on the NYSE MKT or NASDAQ exchange, and decrease a significant portion of the derivative liability from its balance sheet.
Organovo designs and creates functional, three-dimensional human tissues for medical research and therapeutic applications. The company is collaborating with pharmaceutical and academic partners to develop human biological disease models in three dimensions.
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MediSwipe, Inc. (OTCQB: MWIP) announced that the state of Michigan has received in excess of ten million dollars ($10,000,000) as the result of medical marijuana legislation from tax revenues in a report released recently.
The annual report to the state Legislature as required by the Michigan Medical Marijuana Act shows that over $10 million in revenue was collected from administration of the state's medical marijuana program in 2012, more than double the cost of running the program.
The state collected ten million in application fees from medical cannabis patients during its most recent budget year, which ended Sept. 30. After subtracting costs, Michigan netted a surplus of more than $5 million through the program, according to the new report.
Find out more on MWIP here: http://www.wallstreetscoop.net/market-scan/?symbol=MWIP
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