PSYCHEMEDICS CORPORATION ANNOUNCES WARRANT EXERCISE.CAMBRIDGE, Mass.--(BUSINESS WIRE)--July 5, 1995--Psychemedics Corporation (PMD (Polarization Mode Dispersion) The type of dispersion that occurs in singlemode fiber due to a lack of perfect symmetry in the fiber and from external pressures on the cable. Light travels over singlemode fiber in two polarization states. American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. ) today announced that four former Blockbuster block·bust·er n. 1. Something, such as a film or book, that sustains widespread popularity and achieves enormous sales. 2. A high-explosive bomb used for demolition purposes. 3. Entertainment directors, including H. Wayne Huizenga Harry Wayne Huizenga (born on December 29, 1937 in Evergreen Park, Illinois) is an American businessman who has built several companies into multi-billion dollar enterprises, mostly through an aggressive process of acquisitions. , Donald Flynn, John Melk and John Crogin, completed a warrant exercise for 475,951 shares of Psychemedics Corporation common stock at $.97 per share resulting in proceeds to the company of $461,077.00. Raymond C. Kubacki, President and C.E.O., said, "I'm pleased that these distinguished businessmen, most long time Psychemedics investors and supporters, have increased their ownership of our company. We are grateful for the support and confidence they have shown in Psychemedics as well as the guidance and direction they have given us over the years." Psychemedics Corporation offers a patented and proprietary test for drugs of abuse. The Psychemedics drug test is unique in that it uses hair, instead of urine, as the test substance. The Psychemedics testing method is less invasive and affords dramatically higher detection rates as demonstrated by side-by-side tests with urinalysis urinalysis (y  r'ənăl`ĭsĭs), clinical examination of urine for the purpose of medical diagnosis. . Results of some comparative testing showed the Psychemedics' hair test to detect up to ten times as many drug users. The Psychemedics' drug testing method is currently in use by over 430 corporations, five Federal Reserve Banks and hospitals and police departments across the country. CONTACT: Psychemedics Corporation Leroy Moyer, 617/868-7455, 800/628-8073 |
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