Winston-Salem, NC -- (SBWIRE) -- 10/22/2013 -- EC Development (OTC: ECDI) $0.06. Announced Monday after market close that it has developed a customized interface to communicate with and provide complete casino management system functionality to the legacy electronic gaming machines (the majority of games present) which populate the slot parlors, locally known as "banca’s", throughout the Dominican Republic.
Previously, traditional casino management systems could not be linked to banca’s; however, the innovative team at EC Development, with its partners in the Dominican Republic, has developed a software and hardware interface that allows for all the security, accuracy and real-time availability to all data which the games generate allowing management to offer enhanced player experience and, at the same time, gain increased security as well as real-time accurate accounting. Presently, EC Development is deploying the new system throughout Santo Domingo in a series of trials for local banca owners.
“Our new system has been received with great excitement by the owners and managers of the thousands of bancas through the Dominican Republic,” said Gene Estep, CEO of EC Development. “We are pleased to be able to help offer them the benefits of a full casino management system.”
What They Do: EC Development designs, develops and markets software for the U.S. and international gaming and casino markets. The software monitors, audits, analyzes and manages all financial transactions and customer activities for casinos and other gaming related environments.
Oxygen Biotherapeutics (Nasdaq: OBXT) $1.40. Announced Monday after market close that it has signed a Definitive Agreement to acquire certain assets of Phyxius Pharma, a privately-held biopharmaceutical company focused on the development and near-term commercialization of levosimendan to prevent and treat cardiac surgery patients at risk for developing low cardiac output syndrome, a significant unmet medical need addressing an estimated $600 million market in the U.S.
According to the terms of the Agreement, Oxygen Biotherapeutics will acquire the exclusive rights to develop and commercialize levosimendan in North America, as well as integrating three key Phyxius Pharma executives into the Company’s management team. The transaction is valued at approximately $4.8 million in stock as of October 18, 2013, based on Oxygen Biotherapeutics issuing an aggregate of approximately 3.4 million shares of its common stock and securities convertible into common stock to Phyxius Pharma’s stockholders in a private placement. Upon closing of the transaction, Phyxius Pharma Co-Founder and CEO, John Kelley is to become CEO of Oxygen Biotherapeutics.
What They Do: Oxygen Biotherapeutics, Inc. is developing medical products that efficiently deliver oxygen to tissues in the body.
Microsemi Corporation announced Monday after market close that they have entered into a definitive agreement to acquire Symmetricom (Nasdaq: SYMM) $4.77 for $7.18 per share through a cash tender offer, representing a premium of 49 percent based on the average closing price of Symmetricom's shares of common stock during the 90 trading days ended Oct. 18, 2013. The board of directors of Symmetricom unanimously recommends that Symmetricom's stockholders tender their shares in the tender offer. The total transaction value is approximately $230 million, net of Symmetricom's projected cash balance at closing.
What They Do: Symmetricom is a world leader in precise time solutions, sets the world's standard for time.
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