NEW YORK, NY – October 19, 2012 - - PACWEST EQUITIES INC(PINK:PWEI) declined 14.89% to $0.336 on a traded volume of 2.53 millionshares.World EcoSource Corp, the wholly owned subsidiary of the Company has completed the acquisition of PurGro Electronics LLC in exchange for cash and stock in a deal valued at US$15 million.
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A123 Systems Inc (NASDAQ:AONE) among the top performers and the stock soared 54.53% and closed at $0.114 on a traded volume of 34.80 million. The company won court approval to borrow as much as $15.5 million from Johnson Controls Inc while it prepares to sell its assets.
U.S. Bankruptcy Judge Kevin Carey approved the interim financing after Johnson Controls cut the interest rate to 13.5% from 15% following talks held during a break. A123 is scheduled to return to court October 30 to seek approval of the remainder of the $72.5 million loan.
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Bebida Beverage Company (PINK:BBDA) moved up 1.54% to $0.0066 on a traded volume of 3.29 million shares. The Company announced that Sherwood Food Distributors will be joining BeBevCo and the KOMA UNWIND family of products as the master distributor for the entire state of Michigan. Sherwood who services over 2000 grocery stores in Michigan will also provide product for sub distributors which will cover convenience stores and specialty stores across Michigan.
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CONCORDIS GROUP INC(PINK:CNGI) jumped up 52.31% to $0.0990 ona traded volume of 187k shares.The Company said that its CEO Thomas C. Blake is currently in the process of signing a letter of intent on the purchase of a domestic insurance company.
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Peregrine Pharmaceuticals (NASDAQ:PPHM) declined 1.28% to $0.765 on a traded volume of 468kshares. The Company raised $14.3 million in gross proceeds through an ATM agreement with MLV & Co.
The Company provided an update on financing activities, its contract manufacturing business and upcoming potential clinical milestones.
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