First-principle studies of intermolecular and intramolecular catalysis of protonated cocaine

We have performed a series of first-principles electronic structure calculations to examine the reaction pathways and the corresponding free energy barriers for the ester hydrolysis of protonated cocaine in its chair and boat conformations. The calculated free energy barriers for the benzoyl ester hydrolysis of protonated chair cocaine are close to the corresponding barriers calculated for the benzoyl ester hydrolysis of neutral cocaine. However, the free energy barrier calculated for the methyl ester hydrolysis of protonated cocaine in its chair conformation is significantly lower than for the methyl ester hydrolysis of neutral cocaine and for the dominant pathway of the benzoyl ester hydrolysis of protonated cocaine. The significant decrease of the free energy barrier, ∼4 kcal/mol, is attributed to the intramolecular acid catalysis of the methyl ester hydrolysis of protonated cocaine, because the transition state structure is stabilized by the strong hydrogen bond between the carbonyl oxygen of the methyl ester moiety and the protonated tropane N. The relative magnitudes of the free energy barriers calculated for different pathways of the ester hydrolysis of protonated chair cocaine are consistent with the experimental kinetic data for cocaine hydrolysis under physiologic conditions. Similar intramolecular acid catalysis also occurs for the benzoyl ester hydrolysis of (protonated) boat cocaine in the physiologic condition, although the contribution of the intramolecular hydrogen bonding to transition state stabilization is negligible. Nonetheless, the predictability of the intramolecular hydrogen bonding could be useful in generating antibody-based catalysts that recruit cocaine to the boat conformation and an analog that elicited antibodies to approximate the protonated tropane N and the benzoyl O more closely than the natural boat conformer might increase the contribution from hydrogen bonding. Such a stable analog of the transition state for intramolecular catalysis of cocaine benzoyl-ester hydrolysis was synthesized and used to successfully elicit a number of anticocaine catalytic antibodies.

The Effect on Financial Reporting Quality of an Exemption From the SEC Reporting Requirements for Foreign Private Issuers

We test for differences in financial reporting quality between companies that are required to file periodically with the SEC and those that are exempted from filing reports with the SEC under Rule 12g3-2(b). We examine three earnings quality measures: conservatism, abnormal accruals, and the predictability of earnings. Our results, for all three measures, show different financial reporting quality for companies that file with the SEC than for companies exempt from filing requirements. This paper provides empirical evidence of a link between filing with the SEC and financial reporting quality for foreign firms.

Efficient Liquid Liquid Extraction By Emulsion Formation and Separation in Robust Milli-Fluidic Devices

Conventional liquid liquid extraction (LLE) methods require large volumes of fluids to achieve the desired mass transfer of a solute, which is unsuitable for systems dealing with a low volume or high value product. An alternative to these methods is to scale down the process. Millifluidic devices share many of the benefits of microfluidic systems, including low fluid volumes, increased interfacial area-to-volume ratio, and predictability. A robust millifluidic device was created from acrylic, glass, and aluminum. The channel is lined with a hydrogel cured in the bottom half of the device channel. This hydrogel stabilizes co-current laminar flow of immiscible organic and aqueous phases. Mass transfer of the solute occurs across the interface of these contacting phases. Using a y-junction, an aqueous emulsion is created in an organic phase. The emulsion travels through a length of tubing and then enters the co-current laminar flow device, where the emulsion is broken and each phase can be collected separately. The inclusion of this emulsion formation and separation increases the contact area between the organic and aqueous phases, therefore increasing the area over which mass transfer can occur. Using this design, 95% extraction efficiency was obtained, where 100% is represented by equilibrium. By continuing to explore this LLE process, the process can be optimized and with better understanding may be more accurately modeled. This system has the potential to scale up to the industrial level and provide the efficient extraction required with low fluid volumes and a well-behaved system.