Integrated Security (IZZI) executes sale of B&B ARMR division

Integrated Security Systems, Inc. (OTCBB:IZZI) announced today that the Company has executed an Asset Purchase Agreement for the sale of substantially all of the assets of B&B ARMR to an affiliate of Strait Lane Capital Partners, LLC of Dallas, Texas. In effect, the sale includes all of the accounts receivable, inventory, fixed assets and intellectual property of B&B ARMR, plus its investment in the joint venture, B&B Roadway.

The purchase price of $6 million is to be made up of a cash payment in the amount of $5,550,000 and a promissory note in the original principal amount of $450,000. At the closing, 95 percent of the cash portion of the purchase price will be paid to the Company, subject to certain adjustments, and the remaining five percent will be deposited into escrow. Accordingly, of the cash portion of the proceeds from the sale, $450,000 will be used by the Company to make an equity investment in the buyer’s parent company, B&B Roadway Holdings, LLC, a newly-formed Delaware limited liability company.

Integrated Security’s Board of Directors approved the Asset Sale because it believes it was the strategic alternative most likely to maximize stockholder value. Subsequent to the Asset Sale, the Company will retain the net proceeds of the Asset Sale, but will not be actively conducting any business. The Company will actively seek a merger, acquisition or similar business combination with another company to again be engaged in an active business. In the interim, the Company’s Common Stock will continue to be traded and the Company intends on keeping all of its SEC filings up-to-date.

HHWW inches up after big slide

Shares of Horiyoshi Worldwide, Inc. (OTCBB: HHWW) showed signs of life on Thursday after slipping as much as 67 percent from last week’s high of $3.14 earlier this week. Shares rallied almost 8 percent from Wednesday’s closing price in morning trading on Thursday, after the high-end clothing company announced the addition of fashion executive Michelle Stein to its Advisory Board.

A scathing article by Citron Research published last Friday, could’ve played a role in the sharp decline in HHWW’s share price earlier this week.

HHWW is aiming to expand their growth through new categories like Denim and also is looking into getting involved with what’s called “Bridge” or “Complimentary” categories like undergarments (ooh la la), leather goods, footwear, active wear, etc. The company’s near-term  plans for growth call for an expansion of its current collection, solidifying their alliances with key retailers, and appointing a leading management team.

For the quarter ended September 30, 2010 Horiyoshi reported a net loss of $32,476, and no revenue.  HHWW had revenues of $30,633 for the year ended December 31, 2009 and revenues of $153,087 for the six months ended June 30, 2010. As at June 30, 2010 the company had incurred a cumulative net loss of $376,306, had cash of $233,462, and a working capital deficit of $3,690

Shares of HHWW have been up as much as 190 percent over  the past three months, and recently traded for $1.95 per share.

Advanced Life Sciences Holdings, Inc. (ADLS) surges 19 percent on new research report

Shares of Advanced Life Sciences Holdings, Inc. (OTCBB: ADLS) were up almost 19 percent in morning trading on Thursday after a favorable report was issued by Dawson James Securities.

The report stated that although the company has “significant near-term financial challenges,” Advanced Life Science Holdings shares are trading “at a significant discount to comparable anti-infective therapeutics- and Biodefense-focused companies.”

The company’s lead product, Restanza, which was created to address the need for treatment options for community-acquired bacterial pneumonia (CABP), has exhibited high potency against key susceptible and respiratory pathogens resistant to the macrolide-, penicillin- and fluoroquinolone-class antibiotics. Restanza also exhibited strong activity against community–acquired methicillin-resistant Staphylococcus aureus (CA-MRSA), which is a bacterial infection that is resistant to most antibiotics.

In March 2010, Advanced Life Sciences Holdings received guidance from the U.S. Food and Drug Administration on an approval pathway for Restanza in CABP. Several months later, the company reached agreement with the FDA on the design of a Phase III trial with Restanza under the Special Protocol Assessment (SPA) process. The trial is the first prospectively designed superiority study to be conducted in CABP.

“With FDA guidance, the planned Restanza Phase III trial has significant potential for success,” the Dawson James report stated. “Should it demonstrate superiority versus traditional agents such as azithromycin, we believe Restanza could realize blockbuster potential.”

Shares of ADLS are down about 38 percent over the past three months.