General and administrative expenses for the six months ended June 30, 2014 were $2.2 million, compared to $2.0 million for the same period in 2013. The increase of $0.2 million was primarily due to increased professional fees associated with being a public company. Agile Therapeutics recorded a tax benefit of $3.6 million for the six months ended June 30, 2014, reflecting the proceeds received from the sale of a portion of the Company's New Jersey net operating losses. Company Update During the second quarter of 2014, the Company continued to advance its business in three key areas: initiating its confirmatory Phase 3 clinical trial of its product candidate Twirla, collaborating with Corium International (Corium), its third party manufacturer, to prepare clinical supply and plan the commercial scale up of manufacturing capabilities, and expanding its intellectual property portfolio. The Company, in collaboration with Parexel International Corporation, its third party clinical research organization, made progress in the start-up of its confirmatory Phase 3 clinical trial, focusing on site selection and training activities. The Company also selected PHT Corporation as its partner to provide e-diaries for the trial. As previously disclosed, the Company expects to enroll its first subject in the trial in the third quarter 2014. The Company also expects that it is likely to complete the trial in the first quarter of 2016.
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Agile Therapeutics Reports Second Quarter 2014 Financial Results - Yahoo Finance
Bankers, casino executives and consultants said the U.S. crackdown has resulted in unprecedented scrutiny and collaboration between the two industries, including banks vetting casino customers' anti-money laundering systems, checking to make sure casinos dont accept anonymous wire transfers, and offering databases and other information to help the gaming industry identify risky transactions. While the idea of money-laundering through casinos is nothing new and has been fodder for plots in Hollywood movies like "Casino" until recently, banks haven't been expected to take part in regulators' and prosecutors' pursuit of such criminals. Some bank executives grumble about the extent of the work they have to do for government enforcement agencies now, and the penalty for failure. Standard Chartered Plc said on August 6 that a computer in its anti-money-laundering surveillance system made an error, which a source said could trigger fines between $100 million and $340 million payable to New York State's financial regulator. In an interview with Reuters on August 7, Standard Chartered Chief Executive of Asia, Jaspal Bindra, said the penalties are unfair. "We are supposed to police that our counterparties and clients are not money laundering," said Bindra, "and if when we are policing we have a lapse, we don't get treated like a policeman who's had a lapse, we are treated like a criminal." Casinos were historically a popular place for criminals to launder money because it was easy to make large-scale transfers through casino accounts, and swap ill-gotten gains for chips, and back into clean cash.
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Regulators pushing banks to rid casinos of money-laundering - Yahoo News
The court gave the founder of the Sahara media-to-finance empire 15 more "working days" -- on top of 10 days given him in early August -- to use a conference room at New Delhi's Tihar Jail complex to sell the hotels. The properties include New York's iconic Plaza Hotel and London's Grosvenor House in the exclusive Mayfair district. The flamboyant businessman, who began negotiating with potential buyers August 5, needs to raise the 100-billion-rupee ($1.6-billion) bail set by the court to win his freedom. In March, the Supreme Court jailed Roy, known for his rags-to-riches story and mansion modelled on the US White House, for contempt after he missed a court hearing in a long-running row with the capital markets' regulator. Roy's lawyer, S. Ganesh, told the court talks to sell the Plaza and Grosvenor House, along with Hotel Dream in New York's Manhattan district, "are at an advanced stage". "Only the agreements for sale have to be signed," Ganesh said, at the same time cautioning "still a lot remains to be done". Justice T.S.
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