Top 3 OTC-BB and Pink Sheet Market Movers
Artificial Life, Inc. (ALIF), MetaSorb Technologies Corporation (MSBT), and First Litchfield Financial Corporation (FLFL) were among today’s top OTC market movers.
Artificial Life, Inc. [[ALIF.OB]], which is a full-service provider of mobile broadband technologies, announced that it signed a securities purchase and strategic alliance agreement with 3M Company [[MMM]]. Under the terms of the agreement, ALIF sold 6,447,491 shares of its common stock at a price of $1.00 to the conglomerate that now owns a 10% stake. In addition, the two parties entered into a strategic alliance to collaborate in various projects.
MetaSorb Technologies Corporation [[MSBT.OB]], which is developing a blood purification technology that will be able to remove toxins, saw its shares rebound more than 10 percent after TapeBeat.com clarified that they are in no way associated with the MetaSorb and clarified various assumptions that it made within their analysis of the company. Among the clarifications was that patient enrollment in clinical trials has been “slower than originally anticipated” and that the company would not be attending a reported medical conference this year.
First Litchfield Financial Corporation [[FLFL.OB]], which owns the First National Bank of Litchfield, announced that it will merge with Danbury-based Union Savings Bank. The two banks entered into a definitive agreement to merge that will pay each First Litchfield shareholder $15 per share in cash, valuing the deal at about $35 million. The agreement was unanimously approved by the boards of both banks, the companies said.
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