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Gregory Sichenzia invited to speak at PIPEs Conference Europe May 18. London U.K

Structuring PIPEs: How to do a Private Placement in a Public Company in Europe

This panel discusses PIPE transactions in Europe including general customs, processes, and regulatory constraints. Panelists cover the advantages that a European deal offers to issuers, and how PIPEs can be structured to best capitalize on European markets. The panel also focuses on how to tailor a placement to a particular exchange or nation’s requirements, along with the costs to the issuers and what kind of discounts are likely to apply in pricing.

MODERATOR: TROY RILLO, Cornell Capital Partners
PANELISTS: PIERS LINNEY, Tower Gate Capital ; JAMES MILLICHAP-MERRICK, Cornell Capital Partners; GREG SICHENZIA, Sichenzia Ross Friedman Ference

Gregory Sichenzia invited to speak at PIPEs Conference Europe Jun 9. London U.K.

PIPEs & “Private Placings” — Understanding Privately Negotiated Deals for Public Companies
8:20 – 9:10

These bankers and institutional investors compare and contrast US-style PIPE investing with European private placements. This segment includes detailed discussion of deal mechanics and the various laws and customs which impact direct investments in publicly-held companies. Panelists will address the ways in which UK-listed issuers can tap US hedge fund capital, the use of warrants and equity-linked securities in PIPEs, and the parameters investment bankers use to create deal terms.

MODERATOR: TROY RILLO, Cornell Capital
PANELISTS: PIERS LINNEY, Tower Gate Capital, BOB PRESS, Montgomery Equity Partners; DOUGLAS ROFE, Reed Smith; GREG SICHENZIA, Sichenzia Ross Friedman Ference

Bloomberg Radio News With Marc Ross Regarding the Enron Verdict

BROADCAST MONITORS
TRANSCRIPT

CLIENT: AVALANCHE STRATEGIC COMMUNICATIONS
PROGRAM: BLOOMBERG RADIO NEWS
STATION: BLOOMBERG-AM
DATE/TIME: 5/25/06 12:00 PM
SUBJECT: MARC ROSS: ENRON VERDICT
LENGTH: 19:00

CHARLIE PELLETT, ANCHOR: All right, I have another guest I want to
bring in on the conversation right now. We’ve got Marc Ross with
us, a partner at the law firm Sichenzia, Ross, Friedman and Ference.
Marc, good afternoon, thank you very much for joining us.

MARC ROSS, ATTORNEY: Good afternoon.

ANCHOR: You are learning of these verdicts as we are announcing
them here on Bloomberg Radio. And again, a conviction for Jeff
Skilling, and your reaction to what you’re hearing so far from
Houston?

ROSS: Well, what I’m hearing so far I think is encouraging,
because I think it shows that the laws can be enforced. Hopefully
it will bring about investor confidence in the marketplace, and we
can put all this chapter behind us and move forward and let the
markets prosper. I think the jury did do what they were asked to
do. They looked at it carefully. The government was successful in
prosecution. But, as I’m saying, hopefully, this can be put to…a
sad chapter in American corporate culture behind us, and we can
move forward.

PHIL GREGORY, ANCHOR: Marc, when you look at the outcome of this
case, there have been all these other cases that people were
looking at. We had the Martha Stewart case, you had the case at
Tyco. How significant a case was this? I mean, after all, a lot
of people lost a lot of money.

ROSS: I mean, I think it was a significant case. I mean, I think
there were a lot of individual investors who really did lose a lot.
It goes right to the core of American values, where, you know, the
small investors lost money. I think it goes to the corporate greed
factor, where the small investors lost a lot of money while the
large, wealthy corporate leaders did very well for themselves.

PELLETT: All right, Marc and David, just one more headline to pass
along to you right now. We’ve got Enron’s Ken Lay guilty on all
bank fraud counts, and again as we reported earlier, Jeffrey
Skilling convicted of conspiracy. The Enron jury still reading the
verdicts. We’re getting the information and passing it along to
you right now. And also one additional headline for you, Jeff
Skilling found not guilty on insider trading. David George, what
is happening right now in terms of the process itself. What do you
think is going through the minds of Jeff Skilling and Ken Lay, and
what happens to them in terms of the criminal process here?

DAVID GEORGE, ATTORNEY: Well, this is obviously their worst
nightmare. And my understanding is these guys really, they chose
to fight. A lot of people plead guilty and these guys believed
that they were innocent. From everything I’ve seen, they really
seemed to believe that this was unjust. So, this is a big wake-up
call. The next step obviously, there’s going to be an appeal. And
they’ll be filing that in the next few weeks, and that will work
its way through the system and take a year or more to get through
the system. The question is, well, actually, the next step will be
the sentencing. Sometime in the next few months, they’ll be
sentenced. And that will, some reports will have to be done, and
that will be a long sentence, probably. But that’s going to have
to be determined. Then the question is going to be, do they get to
stay out of jail while they’re on appeal? Or do they have to go
into jail while waiting? That’s going to have to be determined.
So very likely could be not too long actually going into prison.

GREGORY: Mark Powers, there’s always a danger in these kind of
cases for the defense presentation of putting the defendants on the
stand. There’s always some question of whether or not they should
indeed testify. Did Lay and Skilling really have to testify in
this case or was that a mistake?

ROSS: Did you mean Marc Ross?

GREGORY: Yes, I’m sorry, Marc Ross. Go ahead.

ROSS: I think, you know, again, it really comes down to an issue
of strategy. But I think, as my colleague just said, these people
really believed in their own innocence, and I think they believed
that they could tell the story and they could convince the jury.
I think the approach always was for them to look at the jury, try
to present themselves as an ordinary person and not a person of
high stature, and really just tell the story, and say, ‘Look, I
didn’t really know any better than anybody else out there.’ So I
think, yes, it’s always a risk. A lot of times traditional ideas
are not to put a defendant on the stand, and here the decision was
made, and I think it was made early on, because I think it was
something that everybody was expecting that they would testify.
And they wanted to see if they could relate to the jury, have the
jury like them, because, remember, our system really comes down to
while the jurors has to decide the law, there’s a lot that comes
into it as how they perceive the defendants themselves.

PELLETT: David George, you are talking to us from Houston. You
are a civil attorney in Houston. Talk to us about the home team
advantage and how that may or may not have worked for Ken Lay and
Jeff Skilling.

GEORGE: Well, obviously, Enron was a big story. You didn’t get
any jurors who had not heard about this. Enron was the seventh
largest company in America. One of the largest, most prominent
companies of Houston. The baseball field where the Astros play was
named Enron Field, had to be renamed after all this. I think a lot
of people, everyone knows someone who got laid off at Enron. And
everyone knows someone who lost savings there. So, I think it was
a certain disadvantage. Everyone came in pretty upset that this
company went under. But I don’t think that the jurors, or really
anyone saw this as some outsiders from Washington or somewhere
coming in to prosecute local people. I think the biggest concern
was that local people had been so affected by what happened with
Enron.

GREGORY: Yeah. David, what about efforts to portray Ken Lay and
Jeff Skilling as leaders in the local business community, and
really trying to emphasize their links to the City of Houston. Why
didn’t that pay off?

GEORGE: You know, they were very big leaders, and I think everyone
knew that. Some of the choice of having a very prominent pastor
here at one of the largest Baptist churches come and testify in his
favor. I think sometimes jurors don’t care for that. I think they
want to just stick to the facts and are not really interested that
someone’s preacher likes them. The other things were the owner of
the Houston Astros came and testified and those were pretty far
afield from what happened at Enron. So I think in the end, we
won’t know. Maybe the jurors put a lot into that, but I have a
feeling they cared more about what happened in those board rooms
and what the facts were, as opposed to these people’s local
celebrity.

GREGORY: Okay, let’s recap what the verdict is in this case. The
jury convicting Kenneth Lay and Jeffrey Skilling of orchestrating
the fraud that destroyed Enron. The jurors, after deliberating six
days, found Lay, Enron’s former Chairman, and Skilling, its former
Chief Executive Officer, guilty of fraud, conspiracy and other
charges. Marc Ross, we’ve been talking here about some of the
implications of this case. What does it really mean for the
investors in this company, the people who lost all this money?

ROSS: I think it means a lot to them. And I’m hoping it means a
lot to them, where I think they determined, they being the jury,
determined that there was malfeasance, there was bad conduct.
These people misrepresented that and conducted themselves
improperly and illegally. And they’re being held accountable for
that. Of course, that doesn’t help the jurors, the investors in
terms of recovering their money. We’ll see what happens in the
civil action. But, you know, I think the investors can feel
validated in terms that the legal system worked here. And
hopefully, in a bigger picture, it will instill a confidence back
into the capital markets in America and it will be received that
way. There have been a lot of changes in the capital markets and
stock exchanges because of Enron and the other cases, and
hopefully, that will put the confidence back in the system.

PELLETT: Marc Ross, what’s your sense about what happens to Ken
Lay and Jeff Skilling tonight? Do these guys walk or will they be
back behind bars this evening?

ROSS: That’s kind of hard to say. I think there’s going to be a
lot of pressure if they’re just able to walk out. I think you’re
going to have a public uproar. If I had to wager for a nickel, I’d
say they’re probably going to be kept in, but you know, it’s really
hard to say at this time. It really comes down to discretion of
the court.

GREGORY: David George, what’s your view here on the widespread
implications of the decision in this case? What does it mean in
the overall?

GEORGE: Well, this is pretty much bringing an end to the chapter,
the criminal chapter, in a lot of Enron. There’s still another
trial, that’s actually the jury is deliberating, relating to a lot
lower level people with some Enron fraud. But most of the people
now have been tried have plead guilty. And this was the big one.
This was the capstone. And so I think it’s going to bring some
conclusion, and I think people are probably going to start moving
on. There’s still the civil matters and those kinds of things, but
this was the big one. The two CEOs of the seventh largest company,
one of the largest companies here in Houston, have now been
convicted. And big, big doings.

GREGORY: David, every time we hear one of these verdicts, we
think, okay, this is going to send a message, going to be a signal
for others to avoid this. Will this kind of thing ever happen
again?

GEORGE: I think people are people, and we’ve been trying for
thousands of years to have people behave better, but greed does
funny things to people. I think obviously it’s probably going to
have some deterrents, but, yeah, we’re going to see this. I will
go ahead and say we will keep seeing people in high levels of
position doing things they shouldn’t be doing, and you know, I
don’t know when they’re confronted with that how much they’re going
to think, Ken Lay, look what happened to him.

ROSS: Well, you gotta hope they’re going to look at that, and
really, it will have a deterrent factor. And I think that’s the
pressure that the judge is going to feel right now when he gets to
the sentencing stage where he needs to send a message saying that
this is really not okay. This is something that society will not
tolerate. I think one important thing to emphasize is that the
government won this case, and that’s a really important thing,
where, from the investor confidence. If they did not win this
case, as my colleague just said, one of the highest profile cases
we’ve seen tried in a while, if they didn’t win this case, it
certainly would be a very awkward, embarrassing situation for the
government. But they don’t have that problem now.

PELLETT: All right, so this case considered to be a must win for
the government and indeed convictions today. In terms of
sentencing here, Lay and Skilling facing at least twenty-five years
each in prison. David George, what factors might the judge
consider here when they decide how much time these two former
executives should spend behind bars?

GEORGE: Well, he is going to follow the federal sentencing
guidelines, which is a very set formula. It looks at what the
crimes are and how much money was lost, whether these people had
any trouble with the law before. There’s a whole bunch of factors.
It’s very complicated. And that gives him a range of a certain
number of months. Until last year, that was mandatory. The judges
had to follow it in federal courts. Then the US Supreme Court said
no, they can use their discretion but generally should look to it.
So that’s what’s going to happen. The government, the courts are
going to get a report together and see what this book tells the
judge to sentence them to. And then he’s going to use some
discretion to maybe go up or go down a little bit. But the main
factors are going to be how big the fraud was, how bad the acts
were, how much money was lost, those kinds of things.

GREGORY: Marc Ross, we’re waiting to hear the penalty here that
the judge may impose in terms of sentencing. What goes through the
defendants’ minds? What goes through the attorneys’ minds? What
do you say and do while awaiting that sentencing?

ROSS: You know, what’s going through the defendants’ minds is, I
believe these gentlemen thought they were innocent. Whether they
convinced themselves of it or otherwise, and I think they’re just
sitting there in shock. And I doubt that there’s a heck of a lot
of conversation going on right now. There’s not anything that the
lawyers can really say to console the clients, to make them feel
better. They’re really just waiting for the sentencing, and it’s
exactly what you think it would be. You’re just sitting there with
a glum feeling and knowing that it’s going to be a heavy sentence.
As David George just said, there’s not a lot of discretion in the
federal sentencing guidelines. They’re not bound by it, as a
mathematical formula like they used to be, but there’s still not as
much discretion in there. So they have a sense it’s going to be a
long time behind bars.

PELLETT: All right, gentlemen, stay with us. We want to continue
the conversation. And again, just recapping, the federal jury in
Houston has convicted Ken Lay and Jeff Skilling of orchestrating
the fraud that destroyed Enron, giving prosecutors a victory in a
case that came to symbolize corporate crimes sparked by the stock
market bust in 2000.

********

PELLETT: With us discussing today’s verdict also David George, a
Houston civil attorney who has been following the case closely.
David, a couple of minutes ago, we heard Marc talking about the
silence. You’re sitting there with your client really just waiting
to hear from the judge. How much second guessing do you think is
going on, on the part of the defense team? Do you look back and
say we should have done this, this is a strategy we should have
implemented, this is where we made the mistake? Or is it too
premature to have those kinds of thoughts?

GEORGE: Well, I imagine that people are going to internally do
some of that second guessing. I think that’s just what people do.
But I think these strategies were well thought out. This defense
cost tens of millions of dollars, and numerous lawyers, some of the
biggest lawyers in Texas and in the country were involved. And
they made, I think they made, the best decisions they could. I
would hate to see commentators saying they should have done this or
that. I think they made the best…the best lawyers were making
the best decisions, and it turned out like it turned out.

GREGORY: Marc Ross, I’ve been looking at this case just about
every day, reading some of the commentary about it, and following
the developments in it. How difficult was it for a panel of twelve
jurors to go in there and hear the complicated processes of all the
testimony that was determined here and actually follow what
happened?

ROSS: I think it’s incredibly difficult. And I think that’s
something that the defense lawyers usually thrive on and look
forward to, because the extent that the juror can’t understand or
the jury cannot understand it, then they should come back and not
find him guilty. But I think this clearly, the one thing that came
across in all this, is these jurors really paid attention, and
really followed it, and really came up with what seems to be a very
well thought out verdict.

PELLETT: David, what then might be the basis for an appeal?

GEORGE: Well, one of the basis is going to be an instruction the
judge gave about what they sometimes call the ostrich instruction,
which is the idea that the defense put their head in the sand.
That the jury can say that, the judge will tell the jury that they
can find these people guilty if they knew of the wrongdoing or if
they were willfully blind. They took steps to not know. And the
defense lawyer said, ‘No judge, that should not be given because
these people did not claim to be hands off. They never claimed
that.’ So if that’s wrong, that could lead to a reversal. But, I
mean, most criminal defendants are convicted. About ninety-five,
or more, percent of criminal trials in federal system results in
conviction. Fewer than ten or fifteen percent of those are
reversed on appeal. It just doesn’t happen that often. So they’re
going in with incredibly bad odds against them. You can’t predict
what will happen in this case, but the odds are not good.

PELLETT: All right, gentlemen, I want to thank you both very much
for joining us this noon time. We appreciate your time, appreciate
your insights discussing today’s convictions of Ken Lay and Jeffrey
Skilling, convicted of conspiracy and fraud charges in US District
Court in Houston. And throughout the hour we will have more on the
trial, more on the outcome, more on the verdict, and indeed the
sentencing as we get it coming up here on Bloomberg Markets in
Midday. Our guests David George, a Houston civil attorney who has
been following the case closely. Also, Marc Ross our guest, a
partner at the law firm of Sichenzia, Ross, Friedman and Ference.

Gregory SIchenzia invited to speak at PIPEs Summit in NYC July 19

Key Business & Legal Issues For Private Investment in Public Equity
July 18 – 20, 2006 · The Princeton Club of New York, New York, NY

Doing Deals In The Microcap Market: Current Trends And Regulatory Issues

In this discussion, the audience will learn how to negotiate the unpredictable PIPEs market of companies that trade in the sub $100 million range. Find out about current trends in the Micro-Cap market and what these new developments mean for the future of this young market sector. Highlights include:

Moderator:

Greg Sichenzia
Founding Partner
SICHENZIA ROSS FRIEDMAN FERENCE LLP

Mark C. Jensen
Junior Portfolio Manager
BARRON PARTNERS LP

Julie Levenson
Managing Director
HOULIHAN LOKEY HOWARD AND ZUKIN

Eric Singer
Managing Director
PALI CAPITAL, INC

Gregory Sichenzia Joins Thomas Equipment In Ringing the Opening Bell at the American Stock Exchange

New York, NY (March 13, 2006) — Gregory Sichenzia, founding member of Sichenzia Ross Friedman Ference LLP (SRFF) and Thomas Rose, partner at SRFF joined executives from Thomas Equipment in ringing the bell to open the start of trading at the American Stock Exchange on Monday, March 13, 2006. The bell ringing ceremony celebrated Thomas Equipment’s listing on AMEX under the stock symbol “THM.” (Photos of the bell ringing ceremony will be available on the AMEX website on Monday, March 13)

Sichenzia, who counsels public and private companies in all securities laws matters, from complex financing transactions and listings on various stock exchanges to everyday regulatory requirements, served as legal counsel for Thomas Equipment during the process of listing the company on the American Stock Exchange.

Thomas Equipment’s listing on the American Stock Exchange is a symbol of the growing trend of companies who join the public arena through the process of reverse mergers that Sichenzia’s firm has pioneered.

Sichenzia is a recognized expert in reverse mergers and PIPEs and has structured innovative merger and acquisition transactions, and has represented companies and investment banks in initial public offerings of securities, private equity financing transactions (PIPEs), and the resulting resale registration statements associated with these financings. In fact, under Sichenzia’s stewardship, SRFF has risen to become the number one PIPE law firm in the United States.

About Sichenzia Ross Friedman Ference LLP

Sichenzia Ross Friedman Ference LLP provides experienced professional representation in all matters involving the securities industry as well as general corporate and litigation matters. Our clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. We also advise institutional investors on transactions involving complex securities law considerations. Our areas of expertise include corporate and commercial transactions, securities litigation, and arbitration, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation. For additional information about Sichenzia Ross Friedman Ference’s nationally ranked PIPEs practice, go to www.srff.com.

Urigen N.A., Inc. Engages Sichenzia Ross Friedman Ference LLP

BURLINGAME, Calif., Dec 21, 2006 (BUSINESS WIRE) —
Urigen N.A., Inc. has engaged the law firm, Sichenzia Ross Friedman Ference LLP, to represent the Company in connection with its merger transaction with Valentis Inc. (NASDAQ: VLTS).

“We are pleased to be working with a law firm with the breadth of experience and demonstrated historical success of SRFF,” said William J. Garner, President and Chief Executive Officer of Urigen. “Sichenzia Ross Friedman Ference will primarily focus on completion of the merger including future reporting and NASDAQ listing requirements.”

Sichenzia Ross Friedman Ference LLP represents companies in all matters involving the securities industry, as well as in all general corporate and litigation matters. The firm is headquartered in New York.

About Urigen N.A., Inc.

Urigen N.A., Inc. is a specialty pharmaceutical company dedicated to the development and commercialization of therapeutic products for urological disorders. Urigen has five programs in development that are either in or positioned to enter Phase 2 clinical trials. The pipeline includes U101, for the treatment of Chronic Pelvic Pain (CPP); U102, targeting symptoms of CPP secondary to pelvic irradiation; U103, targeting dyspareunia; U301, targeting acute urethral discomfort; and U302, targeting urethritis. For further information, please visit the Company’s website at www.urigen.com.

Sichenzia Ross Friedman Ference Represents Drugmax, Inc. in $51 Million PIPE Transaction; Year to Date PIPEs Representation Exceeds $175 Million

New York, NY – October 5, 2005 – Sichenzia Ross Friedman Ference LLP (“SRFF”) announced today that it represented DrugMax, Inc, (Nasdaq: DMAX) in connection with a $51.1 million placement of its common stock and warrants. This representation included compliance with all Nasdaq stock market rules for issuance of equity securities. From January 1 through October 1, 2005, SRFF has represented public companies in at least 42 PIPE transactions with an aggregate dollar amount of $175 million. The firm has been ranked first in the nation since June 2004 for the number of public issuers they have represented in such transactions.

Led by partner Thomas A. Rose, SRFF consummated this transaction in an expeditious and efficient manner, allowing DMAX to execute its business plan to regain compliance with all Nasdaq listing requirements.

According to Ed Mercadante, CEO of DMAX, closing this deal “significantly improve[d] DrugMax’s financial strength” and gave them “the flexibility to take advantage of opportunities to expand its specialty pharmacy and worksite pharmacy business for the benefit of all [their] shareholders.”

The magnitude of this deal illustrates SRFF’s continued dominance of the PIPEs market. The DMAX closing marks SRFF’s 42nd significant placement advised for issuers this year, doubling the number of transactions for the same time period in 2004. In addition, the aggregate dollar amount the firm has advised has tripled, increasing from $57 million to $175 million, while average transaction size has grown from $2.7 million to $4.2 million in the same period. As the leading PIPEs transaction placement firm in the nation, SRFF continues to distinguish itself by actively pursuing and executing deals for DMAX and other forward-thinking clients through its dynamic corporate practice.

For more information about PIPEs rankings, go to www.pipesreport or www.privateraise.com.

About Sichenzia Ross Friedman Ference LLP

Sichenzia Ross Friedman Ference LLP provides experienced professional representation in all matters involving the securities industry as well as general corporate and litigation matters. Our clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. We also advise institutional investors on transactions involving complex securities law considerations. Our areas of expertise include corporate and commercial transactions, securities litigation, and arbitration, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation. For additional information about Sichenzia Ross Friedman Ference’s nationally ranked PIPEs practice, go to www.srff.com.

Sichenzia Ross Friedman Ference LLP Ranked First in the Nation in PIPEs Transactions for 12 Consecutive Months

New York, New York – July 15, 2005 – Sichenzia Ross Friedman Ference LLP has been ranked first in the nation for representing public companies in PIPES transactions for the last 12 consecutive months. Year to date, the law firm has been credited with representing 26 issuers in over $90 million of PIPEs transactions, averaging $3.47 million per transaction. For the same period last year, when the firm first achieved its #1 ranking, the firm had been credited with representing 14 issuers in $40 million of transaction, an increase of 85% and 125%respectively. These rankings are measured by the number of placements advised according to The PIPEs Report and Privateraise.com The rankings include only PIPE transactions that have a value of at least $1.0 million.

Gregory Sichenzia, a member of the firm stated, “Our growth has been remarkable. We have doubled the dollar amount and number of transactions we have advised issuers on in the last 12 months and continue to provide our clients with the high level of service they have come to expect of us”.

To keep pace with its growth the firm now employs 22 attorneys and has taken additional office space at its New York City location.

For more information about PIPE rankings, go to www.privateraise.com.

About Sichenzia Ross Friedman Ference LLP

Sichenzia Ross Friedman Ference LLP provides experienced professional representation in all matters involving the securities industry as well as general corporate and litigation matters. Our clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. We also advise institutional investors on transactions involving complex securities law considerations. Our areas of expertise include corporate and commercial transactions, securities litigation, and arbitration, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation. For additional information about Sichenzia Ross Friedman Ference’s nationally ranked PIPEs practice, go to www.srff.com. Or reach us at www.pipeslawyer.com www.pipestransactions.com which all link directly to the firms primary website.

Sichenzia Ross Friedman Ference LLP Tops the 75.2 Million mark and Continues to be Ranked First in the Nation in PIPEs Transaction

New York, New York – May 1, 2005 – Sichenzia Ross Friedman Ference LLP has been credited with representing issuers in over $75 million of PIPEs transactions, with an average of 4.18 million, year to date and has been ranked first in the nation. The Firm has continuously been ranked first in representing issuers in PIPEs transactions during 2004 and 2005. The ranking was measured by the number of placements advised according to The PIPEs Report and Privateraise.com, Sichenzia Ross Friedman Ference LLP has advised its publicly traded clients on 18 placements with a total of $75.2 million having been raised in these transactions. The rankings include only PIPE transactions that have a value of at least $1.0 million.

The Firm, has also acquired the domain name www.pipeslawyer.com www.pipestransactions.com and www.pipesfinancings.com which all link directly to the firms website. The Firm is also changing its primary domain name to www.srff.com.

For more information about PIPE rankings, go to www.privateraise.com.

About Sichenzia Ross Friedman Ference LLP
Sichenzia Ross Friedman Ference LLP provides experienced professional representation in all matters involving the securities industry as well as general corporate and litigation matters. Our clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. We also advise institutional investors on transactions involving complex securities law considerations. Our areas of expertise include corporate and commercial transactions, securities litigation, and arbitration, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation. For additional information about Sichenzia Ross Friedman Ference’s nationally ranked PIPEs practice, go to www.srff.com

Sichenzia Ross Friedman Ference LLP Announces The Addition Of Three Partners

New York, New York – May 1, 2005 – New York, New York. Sichenzia Ross Friedman Ference LLP today announced the addition of three partners, Richard Babnick, Jr., Darrin M. Ocasio, and Sameer Rastogi..

Mr. Babnick , who joined Sichenzia Ross Friedman and Ference LLP in 1999 represents business entities, officers and directors, shareholders and individuals in state and federal court proceedings, as well as broker-dealers and registered persons in investigations and administrative proceedings before the U. S. Securities and Exchange Commissions, self-regulatory organizations and state securities regulators.

Mr. Ocasio is a Corporate and Securities Attorney working on behalf of public and private companies across a diverse array of maters including more than 100 private investments in public equity financing transactions (including filing with the Securities and Exchange Commission of the resale registration statements required in such PIPEs transactions), numerous public offerings and various compliance issues with they Securities Act of 1933 and the Securities Exchange Act of 1934.

Mr. Rastogi, specializes in Securities, Business and General Commercial Litigation. His practice involves representing broker-dealers, associated persons, customers, corporations, individuals and shareholders in a wide array of matters including securities transactions, business contracts and arbitrations. He practices in the firms Broker-Dealer Regulation department.

Sichenzia Ross Friedman Ference LLP has been ranked first in the nation in representing issuers in PIPEs transactions, by the number of placements advised, for the calendar year 2004 and through year to date in 2005. As well as eleventh in total dollars raised though May 1, 2005. According to The PIPEs Report and Privateraise.com, Sichenzia Ross Friedman Ference LLP has advised its publicly traded clients on 18 placements for this calendar with a total of $75,200 million having been raised in these transactions.

Sichenzia Ross Friedman Ference LLP Announces The Addition Of Three Partners

New York, New York – February 1, 2005 – New York, New York. Sichenzia Ross Friedman Ference LLP today announced the addition of three partners, Andrea Cataneo, Jeffery J. Fessler, and Jay R. McDaniel.

Ms. Cataneo, who represents private and public companies with an emphasis in structuring business combinations and assists growing companies in capital raising efforts through private and public offerings and secured and unsecured private equity financing transactions (PIPEs), joined the firm after maintaining her own practice for 5 years.

Mr. Fessler, who focuses on the representation of public and private companies, principally in the biotechnology industry, joined the Firm from Sills Cummus Epstein & Gross PC,

Mr. McDaniel, who counsels privately and publicly held clients on a variety of business issues, including state and federal securities law, corporate governance and general business law, joined the Firm from Porzio Bromberg & Newman, PC.

Sichenzia Ross Friedman Ference LLP has been ranked first in the nation in representing issuers in PIPEs transactions, by the number of placements advised, for the calendar year 2004. According to The PIPEs Report and Privateraise.com, Sichenzia Ross Friedman Ference LLP has advised its publicly traded clients on 39 placements for the calendar year ended December 31, 2004 with a total of $154.95 million having been raised in these transactions.

About Sichenzia Ross Friedman Ference LLP

Sichenzia Ross Friedman Ference LLP, which maintains its offices in New York City and is comprised of 20 attorneys, provides experienced professional representation in all matters involving the securities industry as well as general corporate and litigation matters. Our clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. We also advise institutional investors on transactions involving complex securities law considerations. Our areas of expertise include corporate and commercial transactions, securities litigation, and arbitration, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation. For additional information about Sichenzia Ross Friedman Ference’s nationally ranked PIPEs practice, go to www.srff.com. The Firm also maintains the domain names www.pipeslawyer.com, www.pipestransactions.com, www.pipesfinancing.com and www.wallstreetlawyers.com, which all link directly to the firms website.

Sichenzia Ross Friedman Ference LLP First in the Nation in PIPEs Transactions For The Year End 2004

New York, NY- February 3, 2005- Sichenzia Ross Friedman Ference LLP advised more issuers on private investment in public equity (PIPE) placements in 2004 than any other law firm nationwide, according to The PIPEs Report 2004 Year in Review (01/15/2005). In 2004, Sichenzia Ross Friedman Ference advised 39 issuers on PIPE placements- nearly double any other law firm, with a total value of more than $154.95 million.

According to the report, the PIPE market expanded and matured in 2004, with 1,713 transactions having been consummated, representing a 30% increase over the 1,327 deals closed in 2003. Of these deals, 91%, or 1,542 transactions, were completed in companies with market caps of less than $250 million, and in excess of 75%, or 1,216 transactions, were completed in companies with market caps of less than $100 million. These statistics demonstrate that PIPEs financing have become the mainstay of small capitalization companies. Sichenzia Ross Friedman Ference LLP, which represents more than 75 companies in this market sector, filed more than 70 registration statements for clients in 2004 and has one of the most active securities departments in the United States – a position which sealed this #1 ranking.

“This firm’s leadership in the PIPEs market is largely attributable to the depth and breadth of our public company client base, which has a constant need for capital to execute their business plans, as well as the expeditious and effective manner in which the firm handles these transactions and the subsequent registration statements,” said Thomas Rose, managing partner of the Firms securities practice. “Investors are sitting on a lot of money and see attractive valuations for these companies that have been ignored by other more traditional sources of capital. This form of financing is also relatively fast, efficient and attractive to the issuer as well. There were $20 billion dollars in PIPEs transactions in 2004 and from what we’re seeing, there’s every reason to be optimistic about the industry’s growth as we move into the new year.”

The Firm, which is a Premier Sponsor for The 4th Annual Industry Summit on PIPEs to be held on February 28, 2005 at The Princeton Club, will be sponsoring a Q&A panel discussion on February 28, 2005 at 4:00 p.m. regarding Investing in Micro Cap companies.

About Sichenzia Ross Friedman Ference LLP
Sichenzia Ross Friedman Ference LLP provides experienced professional representation in all matters involving the securities industry as well as general corporate and litigation matters. Our clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. We also advise institutional investors on transactions involving complex securities law considerations. Our areas of expertise include corporate and commercial transactions, securities litigation, and arbitration, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation. For additional information about Sichenzia Ross Friedman Ference’s nationally ranked PIPEs practice, go to www.srff.com.

Sichenzia Ross Friedman Ference LLP Partner Quoted in The ‘PIPEs Report’ on The Finder Dilemna

Sichenzia Ross Friedman Ference LLP Partner Gregory Sichenzia was quoted in the cover feature of the December 1 issue of The PIPEs Report which provided a discussion about the uncertain regulatory status of “finders” who arrange private offerings by introducing issuers to potential investors.

This issue was raised for the second straight year by the participants in the SEC’s annual Government-Business Forum on Small Business Capital Formation that was held in September 2004. At the Forum, the attendees made their concerns about finders a central issue and urged the SEC to address and clarify the regulatory status of these persons. They further suggested that the SEC staff should focus on whether to create an exemption from broker-dealer registration requirements or instead issue a new regulation that would allow finders to register with the SEC under a simplified format.

When asked about the role of finders and the proper manner in which the SEC should address this issue, Mr. Sichenzia noted that while issuers had a practical need for finders, there was certainly a justification for some kind of regulation and oversight of these persons. Mr. Sichenzia further analyzed the need for finders and the potential benefit and burden to the issuers that employ finders. He stressed that “Finders can be a blessing or a curse” and emphasized that the more reputable finders “would not mind being regulated [while regulation] may flush out some of the bad ones.”

According to The PIPEs Report and Privateraise.com, at December 1, 2004, Sichenzia Ross Friedman Ference LLP has represented public issuers in 32 PIPE transactions totaling $112.4 million. The Firm has continuously been ranked first in the nation in representing issuers in PIPEs transactions since the period ended June 30, 2004.

About Sichenzia Ross Friedman Ference LLP
Sichenzia Ross Friedman Ference LLP provides experienced professional representation in all matters involving the securities industry as well as general corporate and litigation matters. Our clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. We also advise institutional investors on transactions involving complex securities law considerations. Our areas of expertise include corporate and commercial transactions, securities litigation, and arbitration, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation. For additional information about Sichenzia Ross Friedman Ference’s nationally ranked PIPEs practice, go to www.srffllp.com.

Sichenzia Ross Friedman Ference LLP tops the $100 Million mark and Continues to be Ranked First in the Nation in PIPEs Transactions

New York, New York – November 17 2004 – Sichenzia Ross Friedman Ference LLP has been credited with representing issuers in over $100 million of Pipes transactions year to date and has been ranked first in the nation in representing issuers in PIPEs transactions for the period ended November 15, 2004. The Firm has continuously been ranked first in the nation in representing issuers in PIPEs transactions since the period ended June 30, 2004. The ranking was measured by the number of placements advised. According to The PIPEs Report and Privateraise.com, Sichenzia Ross Friedman Ference LLP has advised its publicly traded clients on 30 placements through November 15, 2004 with a total of $101.08 million having been raised in these transactions. The rankings include only PIPE transactions that have a value of at least $1.0 million.

The Firm, has also acquired the domain name www.pipeslawyer.com www.pipestransactions.com and www.pipesfinancings.com which all link directly to the firms website. The Firm is also changing its primary domain name to www.srff.com.

For more information about PIPE rankings, go to www.privateraise.com.

About Sichenzia Ross Friedman Ference LLP

Sichenzia Ross Friedman Ference LLP provides experienced professional representation in all matters involving the securities industry as well as general corporate and litigation matters. Our clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. We also advise institutional investors on transactions involving complex securities law considerations. Our areas of expertise include corporate and commercial transactions, securities litigation, and arbitration, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation. For additional information about Sichenzia Ross Friedman Ference’s nationally ranked PIPEs practice, go to www.srffllp.com.

Sichenzia Ross Friedman Ference LLP Continues to be Ranked First in the Nation in PIPEs Transactions

New York, New York – October 7, 2004 – Sichenzia Ross Friedman Ference LLP has been ranked first in the nation in representing issuers in PIPEs transactions for the nine-month period ended September 30, 2004. The Firm has continuously been ranked first in the nation in representing issuers in PIPEs transactions since the period ended June 30, 2004. The ranking was measured by the number of placements advised. According to The PIPEs Report and Privateraise.com, Sichenzia Ross Friedman Ference LLP has advised its issuer clients on 21 placements through September 30, 2004 with a total of $57.19 million having been raised in these transactions. The rankings include only PIPE transactions that have a value of at least $1.0 million.

The Firm, which is a Premier Sponsor for The PIPEs Conference to be held on October 13-14, 2004 at the New York Marriott Marquis, will be sponsoring a Q&A panel discussion on October 13 2004 at 2:00pm regarding Investing in Micro-cap companies.

For more information about PIPE rankings, go to www.privateraise.com.

About Sichenzia Ross Friedman Ference LLP

Sichenzia Ross Friedman Ference LLP provides experienced professional representation in all matters involving the securities industry as well as general corporate and litigation matters. Our clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. We also advise institutional investors on transactions involving complex securities law considerations. Our areas of expertise include corporate and commercial transactions, securities litigation, and arbitration, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation. For additional information about Sichenzia Ross Friedman Ference’s nationally ranked PIPEs practice, go to www.srffllp.com.

Infinium Labs Retains Sichenzia Ross Friedman Ference LLP for Corporate, Securities Counsel

SARASOTA, Fla.–(BUSINESS WIRE)–Aug. 12, 2004–Infinium Labs (OTCBB:IFLB – News) has hired New York-based law firm Sichenzia Ross Friedman Ference LLP (SRFF) as its primary corporate and securities counsel. SRFF will advise Infinium on various matters, including reporting and compliance with the Securities Exchange Act of 1934 and institutional funding contracts.

The Infinium management team selected SRFF over undisclosed competitors because of the firm’s depth of knowledge on securities matters, emphasis on customer service and proximity to Wall Street.

Infinium executives also chose the law firm for its extensive experience working with companies similar in size and stage of business to Infinium.

SRFF’s Corporate and Securities Group advises small to medium sized companies in connection with public offerings and private placement transactions. It also assists clients with their compliance with on-going reporting requirements under the Securities Exchange Act of 1934 and other disclosure obligations, as well as with exchange listing matters.

Sichenzia Ross Friedman Ference LLP has been ranked first in the nation by The PIPEs Report and Privateraise.com in representing issuers in PIPE transactions for the seven-month period ended July 31, 2004. The ranking was measured by the number of placements advised.

Infinium Labs retains two other law firms for corporate and securities counsel in addition to SRFF.

About Infinium Labs

Infinium Labs was founded by a management team with extensive experience in interactive media, entertainment, broadband services and technology. The company is set to launch a cutting edge online gaming service in the fourth quarter of 2004. The Phantom Gaming Service will be delivered online over any broadband network and offer a broad library of games designed to appeal to the avid gamer as well as the casual player. For more information, please visit www.phantom.net.

About Sichenzia Ross Friedman Ference LLP
Sichenzia Ross Friedman Ference LLP provides experienced professional representation in all matters involving the securities industry as well as general corporate and litigation matters. Traditionally, the firm’s clients include private and public corporations, partnerships, broker/dealers, bank-affiliated broker/dealers, investment advisers, and registered personnel, public and corporate customers and investors, partnerships and other entities. Sichenzia Ross Friedman Ference’s areas of practice include corporate and commercial transactions, securities litigation and arbitration, public and private offerings, commercial and business litigation, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation. For additional information about Sichenzia Ross Friedman

Sichenzia Ross Friedman Ference LLP to Sponsor The PIPES Conference 2004

New York City, NY – August 10, 2004 – Sichenzia Ross Friedman Ference LLP has secured a Premier Sponsorship for The PIPEs Conference to be held on October 13-14, 2004 at the New York Marriott Marquis. The Firm will be sponsoring a Q&A panel discussion on the first day of the Conference regarding Investing in Micro-cap companies.

The PIPEs Conference, which is attended by hedge fund managers, investment bankers, corporate attorneys, company executives, venture capitalists, financial analysts, and other professionals, is a is a CLE-accredited two-day event brought to you by The PIPEs Report. The conference features discussions and workshops on the issues that affect the business of private investments in public equity, including the following:

• Targets for Direct Investment
• Deal Structures & Strategies
• Asset Allocation for LPs
• Legal & Regulatory Issues
• Investment Trends
• Finding & Evaluating Deals

To register for The PIPEs Conference 2004, please visit www.thepipesconference.com.

About Sichenzia Ross Friedman Ference LLP

Sichenzia Ross Friedman Ference LLP provides experienced professional representation in all matters involving the securities industry as well as general corporate and litigation matters. Traditionally, our clients include private and public corporations, partnerships, broker/dealers, bank-affiliated broker/dealers, investment advisers, and registered personnel, public and corporate customers and investors, partnerships and other entities. Our areas of practice include corporate and commercial transactions, securities litigation and arbitration, public and private offerings, commercial and business litigation, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation.

For additional information about Sichenzia Ross Friedman Ference’s PIPEs practice, which has been ranked first in the nation by The PIPEs Report in representing issuers in PIPEs transactions for the seven-month period ended July 31, 2004, visit www.srffllp.com.

Sichenzia Ross Friedman Ference LLP Ranked First in the Nation in PIPEs Transactions

New York City – July 27, 2004 – Sichenzia Ross Friedman Ference LLP has been ranked first in the nation in representing issuers in PIPEs transactions for the six-month period ended June 30, 2004. The ranking was measured by the number of placements advised. According to The PIPEs Report and Privateraise, Sichenzia Ross Friedman Ference LLP has advised its issuer clients on 14 placements through June 30, 2004 with a total of $40.4 million having been raised in these transactions. The rankings include only PIPE transactions that have a value of at least $1.0 million.

During 2004, Sichenzia Ross Friedman Ference LLP has represented its issuer clients in numerous PIPE transactions, including the following:

1/9/2004
eMagin Corporation
$4.2 million

1/19/2004
Global Axcess Corp.
$2.5 million

1/29/2004
Global Axcess Corp.
$3.5 million

1/30/2004
Geopharma, Inc.
$5 million

2/1/2004
Tissera, Inc.
$2.2 million

2/4/2004
Molecular Diagnostics, Inc.
$1.7 million

2/10/2004
Geopharma, Inc.
$5 million

2/12/2004
QT5, Inc.
$1 million

3/5/2004
Geopharma, Inc.
$5 million

3/18/2004
Radix Marine, Inc.
$3.3 million

3/18/2004
Tissera, Inc.
$5.5 million

3/24/2004
Powerlinx, Inc.
$1.825 million

4/2/2004
Cedric Kushner Promotions, Inc.
$1.7 million

4/4/2004
Argentex Mining Corp.
$2.0 million

4/22/2004
Vertex Interactive, Inc.
$3.0 million
Smartire Systems, Inc.
$1.5 million

5/20/2004
AdZone Research, Inc.
$1.85 million

5/27/2004
Vertical Health Solutions, Inc.
$4.0 million

6/3/2004
Zynex Medical Holdings, Inc.
$1.2million

6/7/2004
Secured Digital Applications, Inc.
$7.0 million

6/8/2004
Pacific Entertainment Holdings
$2.0 million

6/8/2004
Molecular Diagnostic, Inc.
$2.5 million

6/16/2004
SyndicationNet.com, Inc.
$2.2 million

6/18/2004
Stronghold Technologies, Inc.
$3.0 million

6/28/2004
Ventures-National, Inc. (d/b/a Titan General Holdings)
$2.25 million