Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Some good news on IMDS... 1.06 / 1.07 right now..
Imaging Diagnostic Systems Presents First In-Vivo Proof, Using 'Fusion' Images, That CTLM(R) Detects Tumor Angiogenesis
CHICAGO, Dec. 2 /PRNewswire-FirstCall/ -- Imaging Diagnostic Systems, Inc., (BULLETIN BOARD: IMDS) , announced today at a press conference in Chicago, while attending the Annual Meeting of the Radiological Society of North America, they have confirmed for the first time in vivo, using superimposed CTLM(R), MRI and MRA images, that their Computed Tomographic Laser Breast Imaging System (CTLM)(R) can depict angiogenesis associated with tumors.
Dr. Eric Milne, Professor Emeritus of Radiology and Medicine UC at Irvine, Chief Radiologist for Imaging Diagnostic Systems, Inc., stated that, "It is of crucial importance for us to be able to prove to radiologists that, when they image the breast using CTLM(R), the abnormal vessels they see within the breast in the location of a cancer truly reflect the growth of new tumor vessels (angiogenesis). Our ability to use the new technique of "fusion" images has now provided us with the proof we sought."
"By fusing, (superimposing), CTLM(R) and MRI images of the same breast we have demonstrated accurate geographic correlation between the vessels shown by CTLM(R) and those shown by MRI, the present 'gold standard' for visualizing blood vessels in the breast," Milne said.
"This is an exciting and important step forward in validating that, using hemoglobin alone as an endogenous contrast agent, CTLM(R) provides valid information which will be of assistance in differentiating benign from malignant lesions on the mammogram, with the potential of markedly reducing the present very large numbers of negative biopsies," Milne added. "Currently, approximately 80 out of every 100 biopsies performed come back negative for cancer."
The Company also announced recently that Health Canada, the regulatory body similar to the FDA, has approved their license application for a "New Medical Device," which permits the sale and marketing of the CTLM(R) throughout Canada effective immediately.
In addition, the Company debuted a first generation prototype of a Laser Imager for Laboratory Animals (LILA)(TM). "We believe that LILA(TM) is the world's smallest optical CT scanner that can illuminate green fluorescent proteins derived from the DNA in jellyfish. This product is addressing a new market targeting pharmaceutical developers and researchers who use optical imaging in their clinical research," stated Robert Wake, VP of Engineering for Imaging Diagnostic Systems, Inc. The Company recently signed an agreement with the Rumbaugh-Goodwin Institute for Cancer Research Inc. to test and develop LILA(TM) and other products for the laboratory market.
Imaging Diagnostic Systems has received CE Marking, UL listing, ISO 9001:2000 certification and FDA export certification for its CT Laser Breast imaging system. The Company is seeking PreMarket Approval (PMA) from the Food and Drug Administration (FDA) for its CTLM(R) system to be used as an adjunct to mammography. The CTLM(R) system is a non-invasive, painless examination that does not expose the patient to radiation nor require breast compression.
Please visit Imaging Diagnostic Systems' website at: http://www.imds.com/ for additional information.
In conjunction with the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release may contain forward-looking statements pertaining to future anticipated projected plans, performances and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates of future results and there can be no assurance that actual results will not materially differ from expectation. Further information on potential factors that could affect Imaging Diagnostic Systems, Inc., is included in the Company's filing with the Securities Exchange Commission.
Video and photos can be accessed at http://www.prnewswire.com/mnr/imds/11540
Investor Relations:
Rick Lutz
404-261-1196
Lcgroup@mindspring.com
Public Relations:
Margie Adelman
madelman@adelmancommunications.com
561.347.6768
cell: 561-866-2215
312-791-7713 at RSNA
Video: http://www.prnewswire.com/mnr/imds/11540 Imaging Diagnostic Systems, Inc.
CONTACT: Investor Relations, Rick Lutz, +1-404-261-1196, or
Lcgroup@mindspring.com, or Public Relations, Margie Adelman, +1-561-347-6768,
or madelman@adelmancommunications.com, or cell, +1-561-866-2215, or at RSNA,
+1-312-791-7713, both for Imaging Diagnostic
Web site: http://www.imds.com/
Hmmm. I would of thought there would be a positive response to their earnings....NXTI that is... In the dumper!
Mike
Might see some movement on NXTI today..
Next, Inc. Announces Twelve-Month Revenue Increase of 66% to $20,700,000
Next, Inc. (OTCBB:NXTI) a creative and innovative sales
and marketing organization, announces sales results for its twelve
months ended November 30, 2003.
Revenues for the twelve months ended November 30, 2003 increased
66% to approximately $20,700,000 versus $12,400,000 for 2002. The
Company is in process of its year-end audit and expects to report
profitability for the year ended November 30, 2003. These results
should be announced by February 1, 2004.
Management Commentary
Mr. William B. Hensley, President and CEO, stated, during fiscal
2003, Next, Inc. has achieved significant strategic milestones by
expanding and diversifying its sales force and customer base and
departments within its customer base which provides a significant
platform to organically grow its business in 2004.
About NEXT INC.:
Next is a creative and innovative sales and marketing organization
that designs, develops, markets, and distributes licensed and branded
promotional products and imprinted sportswear primarily through key
licensing agreements and the Company's own proprietary designs. Next
has several web sites where its products can be viewed:
www.collegewearusa.com; www.rpmsportsusa.com; and
www.americanbiker.net.
Safe Harbor Statement
The information provided for in this Press Release contains
forward looking statements and information with respect to plans,
projections or future performance of the Company, the occurrence of
which involves risks and uncertainties that could cause the Company's
actual results to differ materially from expected results and other
risks detailed in the Company's filings with the Securities and
Exchange Commission. Readers are cautioned not the place undo reliance
on these forward-looking statements that speak only as of the date the
statements was made. The Company's actual results could differ
significantly from those discussed or implied herein.
Up tic! ADZR
OTCBB Level 2 Display For ADZR
Market Maker Quotes
Bid Ask
Source MM id Size Price
Otcbb SCHB 50 0.29
Otcbb GNET U 250 0.285
Otcbb BAMM 50 0.28
Otcbb NITE 50 0.275
Otcbb BMIC 50 0.27
Otcbb TDCM 50 0.27
Otcbb SEAB 50 0.25
Otcbb GVRC 50 0.23
Otcbb VIEW 50 0.225
Otcbb BSIC 50 0.22
Otcbb CRWN 50 0.22
Otcbb HILL 50 0.22
Otcbb AGIS 50 0.21
Otcbb WIEN 50 0.20
Otcbb PERT 50 0.18
Otcbb SACM 50 0.17
Otcbb JEFF 50 0.15
Otcbb MAYF 50 0.15
Otcbb FRAN 50 0.13
Otcbb VFIN 50 0.10
Otcbb DOMS 50 0.05
Otcbb NATL 50 0.04
Otcbb VNDM 50 0.02
Otcbb FRGP 50 0.01
Otcbb NAIB 50 0.01
Otcbb QUIN
Price Size MM id Source
0.295 50 SACM Otcbb
0.30 50 FRAN Otcbb
0.30 50 JEFF Otcbb
0.30 50 MAYF Otcbb
0.30 50 NITE Otcbb
0.30 50 SCHB Otcbb
0.305 50 BMIC Otcbb
0.31 50 BAMM Otcbb
0.32 50 TDCM Otcbb
0.33 50 GVRC Otcbb
0.34 50 HILL Otcbb
0.35 50 AGIS Otcbb
0.35 50 WIEN Otcbb
0.35 50 VIEW Otcbb
0.37 50 CRWN Otcbb
0.374 50 NATL Otcbb
0.40 50 NAIB Otcbb
0.40 50 PERT Otcbb
0.51 25 SEAB Otcbb
0.67 25 DOMS Otcbb
1.00 25 BSIC Otcbb
1.00 25 VNDM Otcbb
1.01 5 FRGP Otcbb
1.01 5 VFIN Otcbb
QUIN Otcbb
GNET U Otcbb
Looking at the premarket, ADZR is most likely poised (spelling?) to continue its upward movement.
OTCBB Level 2 Display For ADZR
Market Maker Quotes
Bid Ask
Source MM id Size Price
Otcbb BAMM 50 0.28
Otcbb SCHB 50 0.28
Otcbb NITE 50 0.275
Otcbb BMIC 50 0.27
Otcbb TDCM 50 0.27
Otcbb SEAB 50 0.25
Otcbb GVRC 50 0.23
Otcbb VIEW 50 0.225
Otcbb BSIC 50 0.22
Otcbb CRWN 50 0.22
Otcbb HILL 50 0.22
Otcbb AGIS 50 0.21
Otcbb WIEN 50 0.20
Otcbb PERT 50 0.18
Otcbb SACM 50 0.17
Otcbb JEFF 50 0.15
Otcbb MAYF 50 0.15
Otcbb FRAN 50 0.13
Otcbb VFIN 50 0.10
Otcbb DOMS 50 0.05
Otcbb NATL 50 0.04
Otcbb VNDM 50 0.02
Otcbb FRGP 50 0.01
Otcbb NAIB 50 0.01
Otcbb QUIN
Price Size MM id Source
0.295 50 SACM Otcbb
0.30 50 FRAN Otcbb
0.30 50 JEFF Otcbb
0.30 50 MAYF Otcbb
0.30 50 SCHB Otcbb
0.30 50 NITE Otcbb
0.305 50 BMIC Otcbb
0.31 50 BAMM Otcbb
0.32 50 TDCM Otcbb
0.33 50 GVRC Otcbb
0.34 50 HILL Otcbb
0.35 50 AGIS Otcbb
0.35 50 WIEN Otcbb
0.35 50 VIEW Otcbb
0.37 50 CRWN Otcbb
0.374 50 NATL Otcbb
0.40 50 NAIB Otcbb
0.40 50 PERT Otcbb
0.51 25 SEAB Otcbb
0.67 25 DOMS Otcbb
1.00 25 BSIC Otcbb
1.00 25 VNDM Otcbb
1.01 5 FRGP Otcbb
1.01 5 VFIN Otcbb
QUIN Otcbb
.28 by .30... ADZR, you would almost think the financials are going to be pretty good based on the recent volume spike!!
OTCBB Level 2 Display For ADZR
Market Maker Quotes
Bid Ask
Source MM id Size Price
Otcbb PERT 50 0.28
Otcbb SCHB 50 0.28
Otcbb NITE 50 0.275
Otcbb TDCM 50 0.27
Otcbb BAMM 50 0.27
Otcbb VFIN 50 0.27
Otcbb SEAB 50 0.25
Otcbb GVRC 50 0.23
Otcbb BMIC 50 0.23
Otcbb VIEW 50 0.225
Otcbb HILL 50 0.22
Otcbb BSIC 50 0.22
Otcbb CRWN 50 0.22
Otcbb GNET U 100 0.22
Otcbb AGIS 50 0.21
Otcbb WIEN 50 0.20
Otcbb SACM 50 0.17
Otcbb JEFF 50 0.15
Otcbb MAYF 50 0.15
Otcbb FRAN 50 0.13
Otcbb DOMS 50 0.05
Otcbb NATL 50 0.04
Otcbb VNDM 50 0.02
Otcbb FRGP 50 0.01
Otcbb NAIB 50 0.01
Otcbb QUIN
Price Size MM id Source
0.30 50 FRAN Otcbb
0.30 50 JEFF Otcbb
0.30 50 MAYF Otcbb
0.30 50 GVRC Otcbb
0.30 100 GNET U Otcbb
0.30 50 NITE Otcbb
0.31 50 SACM Otcbb
0.31 50 BAMM Otcbb
0.31 50 SCHB Otcbb
0.32 50 TDCM Otcbb
0.34 50 HILL Otcbb
0.35 50 WIEN Otcbb
0.35 50 VIEW Otcbb
0.35 50 PERT Otcbb
0.35 50 AGIS Otcbb
0.37 50 CRWN Otcbb
0.374 50 NATL Otcbb
0.40 50 NAIB Otcbb
0.46 50 BMIC Otcbb
0.51 25 SEAB Otcbb
0.67 25 DOMS Otcbb
1.00 25 VNDM Otcbb
1.00 25 BSIC Otcbb
1.01 5 FRGP Otcbb
1.01 5 VFIN Otcbb
QUIN Otcbb
ADZR has shown strenght the last few trading days... Approaching a 52 week high..
Detailed Quote
Sym-X Bid - Ask Last Chg % Vol $Vol #Trade Open-Hi-Lo Year Hi-Lo Last Trade News Delay
ADZR - Q 5.0 0.255 · 0.26 5.0 0.26 +0.005 2.0 625.6 156 62 0.255 0.26 0.24 0.265 0.01 Nov 10 11:52 Oct 23 realtime
Trade times are local to the exchange. Bid/ask/vol sizes in 000's.
Nasdaq Indicators -- Market: OTCBB -- Bid Tick: Up -- UPC Restricted: No
OTCBB Level 2 Display For ADZR
Market Maker Quotes
Bid Ask
Source MM id Size Price
Otcbb NITE 50 0.255
Otcbb BAMM 50 0.25
Otcbb BSIC 50 0.25
Otcbb GVRC 50 0.23
Otcbb VIEW 50 0.225
Otcbb TDCM 50 0.225
Otcbb HILL 50 0.22
Otcbb GNET U 100 0.22
Otcbb SCHB 50 0.22
Otcbb BMIC 50 0.21
Otcbb CRWN 50 0.20
Otcbb WIEN 50 0.20
Otcbb SEAB 50 0.18
Otcbb PERT 50 0.18
Otcbb SACM 50 0.17
Otcbb JEFF 50 0.15
Otcbb MAYF 50 0.15
Otcbb FRAN 50 0.13
Otcbb VFIN 50 0.10
Otcbb DOMS 50 0.05
Otcbb NATL 50 0.04
Otcbb VNDM 50 0.02
Otcbb FRGP 50 0.01
Otcbb NAIB 50 0.01
Otcbb QUIN
Price Size MM id Source
0.26 50 TDCM Otcbb
0.27 50 CRWN Otcbb
0.27 50 DOMS Otcbb
0.27 50 NAIB Otcbb
0.27 50 SCHB Otcbb
0.27 50 PERT Otcbb
0.27 50 NITE Otcbb
0.28 50 BAMM Otcbb
0.30 50 FRAN Otcbb
0.30 50 JEFF Otcbb
0.30 50 VFIN Otcbb
0.30 50 MAYF Otcbb
0.30 50 GVRC Otcbb
0.31 50 SACM Otcbb
0.34 50 HILL Otcbb
0.35 50 WIEN Otcbb
0.374 50 NATL Otcbb
0.51 25 SEAB Otcbb
0.51 25 BMIC Otcbb
0.55 25 BSIC Otcbb
1.00 25 VNDM Otcbb
1.01 5 FRGP Otcbb
4.00 5 VIEW Otcbb
QUIN Otcbb
GNET U Otcbb
Might want to keep an eye on TAH on the Toronto exchange tommorrow. 3rd highest volume for the last week. (lots of shares though). (TAHAF on the pinks).... Lots of profile this weekend on CBS market watch.
Last at .275 Canadian.
Mike
Some DD on one of my stocks I hold, which has financials coming out around the 15th...give or take. This is copied from an email.
Mike
PHFR Nov 2003
For the benefit of the new guests, (and as a reminder to a few old ones who have been writing lately!), below is a list of the reasons that we have been accumulating Pharmaceutical Formulations, Inc. or PFI. (OTC:BB PHFR). In no particular order, they are: (Headlines first, each one explained below.)
1. Successful turn-around underway.
2. What PFI does.
3. New, experienced and capable management.
4. 8 Consecutive quarters of improving financial results.
5. Revenues now increasing in double digits.
6. Margins are improving.
7. Expansion of manufacturing capacity underway.
8. Signing up new national retail customers.
9. Signing up long-term contract manufacturing agreements with major OTC brands.
10. Increasing research and development budgets.
11. Hiring new people, increasing their workforce.
12. Small float.
13. Backing from $1.6 billion ICC Industries.
14. Acquiring new, higher margin products.
15. Management motivated by strong incentives.
16. Demand for over-the-counter (OTC) pharmaceuticals to increase with aging population.
17. OTC Pharmaceuticals used in up markets and down.
18. Impressive list of retail and private label customers.
19. Off the "radar screen".
20. Summary.
(1) Successful turn-around underway.
This IS a sure-enough turn-around story. PFI got into a real sausage grinder a few years back, but thanks to the new management they have the company headed in the right direction now. They made significant changes and went through a major restructuring in 2001 and 2002. They eliminated some unprofitable product lines and procedures. They aggressively sought to re-establish customer relationships which were damaged during their earlier troubled times under prior management. Not only have they been successful in gaining back those prior business relationships, but they have begun adding large retail and private label contract manufacturing clients to their customer base in 2002 and 2003. Now PFI is growing, adding new talent, adding new clients, increasing margins, increasing manufacturing capacity, and we think it is on the verge of being re-discovered by the investment community.
(2) What PFI does.
In good markets and bad, people have colds, allergies, headaches, indigestion, and the other human ailments that go with living. Pharmaceutical Formulations, Inc. (PFI) makes the stuff that makes us feel better. A good deal of the products they make are for other companies to sell under their own store brand name, such as Walgreens or CVS Pharmacy, and they also make the same products for major manufacturers under their nationally known brands, such as Benedryl and many others.
Business: Currently, they market more than 100 different types of generic over-the-counter (OTC) products (including different dosage strengths of the same chemical composition). These include analgesics (such as ibuprofen, acetaminophen and naproxen sodium), cough-cold preparations, sinus/allergy products and gastrointestinal relief products. They also market a line of powdered dietary fiber products under their wholly owned Konsyl brand.
They manufacture generic OTC products which are chemically and therapeutically equivalent to such brand name products as Advil ® , Aleve ® , Anacin ® , Tylenol ® , Bufferin ® , Ecotrin ® , Motrin ® , Excedrin ® , Sominex ® , Sudafed ® , Comtrex ® , Sinutab ® , Dramamine ® , Actifed ® , Benadryl ® , Allerest ® and Tagamet ® HB ™ , among other products.
Major Customers: CVS Pharmacy, Wall Mart, Costco, Target, Wallgreens, Eckerd Drugs, H.E.B. Stores, Aldi's, BJ Wholesale, Dollar General, Food Lion/Hannaford, Drug Mart, Save-A-Lot and Family Dollar. See the list of customers in Number 18.
(3) New, experienced and capable management.
Dr. James Ingram
Back in 2000, when things weren't going all that well for PFI, they brought in the first of what would prove to be a series of very capable and serious management additions. That was Dr. James Ingram. He became President and Chief Operating Officer in October of 2000. Dr. Ingram had been the executive vice president of Primex Plastics, a division of ICC Industries prior to joining PFI. (In part because of his successful handling of the PHFR turn-around and restructuring, he was recently named Chairman and CEO of PHFR. More on that in a moment.) Dr. Ingram's addition marked the beginning of the turn-around for PFI, but he wouldn't do it all by himself.
Mr. Walter Kreil
In August of 2001, Dr. Ingram brought in a very experienced and capable CFO, naming Mr. Walter Kreil to that position. Before joining PFI, Kreil served for over 10 years as Vice President and CFO of IonBond, a US subsidiary of a multi-national Swiss corporation. Mr. Kreil brought his years of experience and CPA background to the CFO position.
Tony Cantaffa, Hank Sokol
In May of 2002, Business Development was separated from Sales/Marketing. Tony Cantaffa, who had been responsible for both was named V.P. Business Development and Hank Sokol joined the company as V.P. Sales. Sokol had been the V.P. Sales of Mentholatum Company and had been with that firm for 20 years. During his time with Mentholatum, Sokol developed relationships with buyers and companies that will likely prove beneficial to the future success of PFI. (According to one source, what is particularly interesting about this move is that the all-important sales/marketing department became more focused as a separate department under Sokol. With his years of experience and his long-term relationships in the industry, he has entrée into markets dominated by large-cap companies that could translate into additional long-term product business for PFI).
Michael A. Zeher
In July of 2003, PFI announced that Michael A. Zeher would join PFI as President and Chief Operating Officer. Another very serious addition to the management team, Mr. Zeher had formerly been the president and COO of Lander Co., Inc. and prior to that he was VP for Sales and Business Development for Johnson & Johnson. In that announcement, Dr. Ingram moved up to the Chairman and CEO position. (The announcement of such an influential and respected person as Mr. Zeher coming in to take the helm at PFI took some of us by delighted surprise. He was one of 46 US industry leaders who signed the China Trade Bill Letter to Congress, and comes from a global marketing environment. He serves on the board of directors for Matrixx Initiatives and Winston Weber & Associates, Inc. )
With Mr. Zeher's appointment, the completed management team has been transformed, with solid and successful people from much larger companies. Dr. Ingram, Cantaffa, Sokol, Kreil, and now Zeher. PFI isn't bringing in this kind of high-caliber talent for nothing. … As the management team grew stronger, and the restructuring initiatives took effect, the company began to show improvement in its financial results in 2002.
(4) 8 Consecutive quarters of improving financial results
In the last financial report for the period ending June 28, the company said: "EDISON, N.J., Aug. 12 /PRNewswire-FirstCall/ -- PHARMACEUTICAL FORMULATIONS, INC. ("PFI" or the "Company") announced today that it had net sales of $33.8 million for the six months ended June 28, 2003, compared to net sales of $26.3 million for the six months ended June 29, 2002, an increase of 28.3%. PFI had a net loss of $915,000 for the six months ended June 28, 2003, compared to a net loss of $1.9 million for the comparable six-month period of the prior year.
For the quarter ended June 28, 2003, PFI had net sales of $17.6 million and a net loss of $367,000, compared to net sales of $13.7 million and a net loss of $655,000 for the comparable quarter of the prior year. This marks the eighth consecutive quarter in which net sales and operating results have improved over the comparable quarter of the prior year. During December 2002, PFI changed its fiscal year-end from the 52-53 week period which ends on the Saturday closest to June 30 to the 52-53 week period which ends on the Saturday closest to December 31. The quarter ended June 29, 2002 was also a fiscal year-end which included certain favorable year-end tax adjustments." … We await now the results for the Q3 period ending September 27.
(5) Revenues now increasing in double digits.
As can be seen above, top line revenues increased nearly 30% in the 6-month period ending in June of this year.
(6) Margins are improving.
At the same time, margins are beginning to improve. From that same report, "Cost of sales as a percentage of net sales was 84.3% for the six months ended June 28, 2003 as compared to 86.6% in the prior year period. This decrease resulted from the inclusion of Konsyl and the efficiencies gained from increased levels of production. Selling, general and administrative expenses were $3 million and $5.3 million for the three and six months ended June 28, 2003, compared to $2.6 million and $4.8 million in the respective prior year periods. The increases reflect the inclusion of Konsyl and related transition costs, but do not reflect anticipated future cost reductions from the consolidation of PFI and Konsyl.
(7) Expansion of manufacturing capacity underway.
While PFI strengthens the management team and sales are increasing, the company is also ramping up its manufacturing capacity. From the June 28 10Q, we find this: "We intend to spend an estimated $1,000,000 to $1,500,000 for capital improvements in the 53-week period ending January 3, 2004 to increase manufacturing capacity and reduce costs. … We continue to pursue our plan to increase revenues and improve operational efficiencies to restore profitability."
Another sign the company is poised for continued growth, this note was in the 2002 annual report: "We have made significant investments in the modernization of our plant and manufacturing operations, to enable us to sustain and capitalize on our growth in sales among current customers. Many of these improvements are beginning to positively impact our operating and financial results."
(8) Signing up new national retail customers.
In the June 28, 2003 10Q, PFI said: "In July 2002, PFI began shipments to a (new) major national retailer. This new relationship contributed approximately $3.5 million of gross sales in the current six months and $1.6 million in the current quarter." A list of the major customers of PFI is below in Number 18.
(9) Signing up long-term contract manufacturing agreements with major OTC brands.
Further evidence of the expansion underway at PFI comes in this note in the 2002 10-K: "Customer Service is critical to success in the generic market, and we continue to concentrate on improving our customer service level. Partly as a result of this strategy, we have been selected by major pharmaceutical companies for contract manufacturing of national OTC drug products. Under confidentiality agreements, PFI now works with five such companies in either development of new products or the manufacturing of ongoing products." And, for further confirmation, this note surfaced in the president's letter to shareholders earlier this year, 2003: "During the year, we entered into long-term supply arrangements with two major pharmaceutical companies. Shipments began late in the second quarter of the fiscal year. As a result, sales to brand name pharmaceutical companies rose to 12% of total sales, compared to 6% in the prior year. We continue to seek opportunities to expand our contract manufacturing activities to additional products."
(10) Increasing research and development budgets
Again, we see evidence that PFI is ramping up for new products in the increase in research and development budget. From the 10-K: "Our research and development expenditures were $148,000 in transition 2002, $282,000 in fiscal 2002, $443,000 in fiscal 2001 and $537,000 in fiscal 2000. The rate of R&D expenditures fluctuates significantly from year to year depending primarily on what branded products are coming off patent in the near future and whether or not such products are appropriate for development by us. Expenditures in one year are not necessarily indicative of expenditures in future years. We expect to spend in calendar 2003 between $500,000 and $1,000,000 on research and development activities consistent with our goal of continually increasing and improving our product line."
(11) Hiring new people, increasing their workforce.
In the prospectus for the rights offering in April of 2002, the company reported 375 full-time employees. In their most recent 10-K, they reported 412 full-time employees, which is an increase of 10%.
(12) Small float.
As of the last 10-Q, PFI reported a total of 85,345,787 shares issued and outstanding, of which ICC Industries owns 74.5 million. Insiders, officers and directors control another 2.5 million, including stock options, which means the effective "float" for PHFR is about 8.3 million shares. Of that 8.3 million shares, a private group following the company controlled 1.8 million as of November, 2003. So, the freely-trading "float" is relatively small.
(13) Backing from $1.6 billion ICC Industries
ICC Industries is the largest shareholder of PFI, and it is also its largest supplier of raw materials. ICC is a huge company with over $1 billion in annual sales. Some of the management of PHFR is also management or former management in ICC. ICC converted much of its former accounts receivable from PFI into PHFR equity and has made a significant investment in the company. In the most recent president's letter, Dr. Ingram said: "ICC Industries Inc., the Company's principal stockholder, has demonstrated its continued confidence in PFI's management and business plan by providing loans to PFI to increase working capital and by utilizing their buying power to obtain favorable price treatment on raw materials. ICC, the holder of approximately 74.5 million shares (approximately 87%) of the common stock of PFI, is a major international manufacturer and marketer of chemical, plastic and pharmaceutical products with 2002 sales in excess of $1 billion. Founded as a trading enterprise in 1952, ICC has expanded its line of business to include manufacturing and production facilities in 23 locations throughout the United States, Europe, Israel, Russia, China and Turkey".
(14) Acquiring new, higher margin products.
In 2002 the company said that they would be seeking to add new, higher margin products to the PFI product family. They made good on that promise with the acquisition of Konsyl Pharmaceuticals in April of 2003. Here's what Dr. Ingram said in the president's letter about that: "On April 15, 2003 we announced the acquisition of Konsyl Pharmaceuticals, Inc. of Fort Worth, Texas for approximately 8.5 million, subject to certain purchase price adjustments at closing.
Konsyl is a manufacturer and distributor of powdered, dietary natural fiber supplements, which have been recommended by doctors for over 35years. The products are manufactured at their plant in Easton, Maryland and are sold, both domestically and internationally, to pharmaceutical wholesalers, drugstore chains, mass merchandisers, grocery store chains, and grocery distributors. Products are sold under both the "Konsyl®" brand name and various private labels. The "Konsyl®" brand product line and private label products are generally merchandised in pharmacy sections with other bulk forming laxatives. Konsyl also manufactures a gastrointestinal diagnostic product, "Sitzmarks", that is sold to hospitals, colon and rectal surgeons, and radiologists. For the year ended December 31, 2002, Konsyl's net sales were $11.2 million and net income was $945,000.
PFI believes this acquisition provides an opportunity to increase its presence in both the private label and branded pharmaceutical markets. It also affords PFI the opportunity to introduce new products and product line extensions under the "Konsyl®" brand and PFI's own laxative brands. There also exist considerable opportunities for cost savings through consolidation of the two companies. The acquisition transaction will be financed by a combinations of asset based and term loan funding."
Note: The quarter ending September 27, 2003, about to be announced around November 11, will contain a full quarter of Konsyl sales and earnings for the first time. The previous quarter contained results from Konsyl only from May 16 to June 28, (gross sales from Konsyl of $1.3 million).
The company is undoubtedly looking at adding additional companies and products now.
(15) Management motivated by strong incentives.
The following program insures that management will be highly motivated to produce significant financial improvement. From the 10-K:
"PHARMACEUTICAL FORMULATIONS, INC. BONUS PROGRAM Effective for the Year Ending December 31, 2003
o The Pharmaceutical Formulations, Inc. ("PFI") bonus pool will be calculated on the basis of pre-tax income, excluding the bonus accrual.
o The pool will consist of 12% (twelve percent) of the consolidated pretax income of PFI.
o The program will cover all non-union employees of PFI.
o Distribution of the pool shall be recommended by the President and Chairman of the Board of PFI, and reviewed and approved by the Compensation Committee.
o The program will be valid for calendar years 2003 through 2005."
12% of the pretax income is a pretty big carrot for management. Let's hope they like carrots!
(16) Demand for over-the-counter (OTC) pharmaceuticals to increase with aging population.
The OTC pharmaceuticals business has been growing steadily and is likely to see continued growth as new products become available for OTC use. In addition, the population of the US is aging as more and more "baby boomers" reach retirement age.
(17) OTC Pharmaceuticals used in up markets and down.
While the OTC pharmaceuticals business is somewhat affected by swings in the economy, people get colds, allergies, aches and pains, stomach distress, etc. in good markets and bad.
(18) Impressive list of retail and private label customers.
PFI works with the giants in the industry, both as a primary manufacturer and as a contract provider. In their power point presentation on the website, here's the list of private label and contract customers for PFI:
PFI manufactures products for these stores under their private label.
Mass Merchandisers/ Wharehouse Clubs
Amway
BJ's Wholesale
Consolidated Stores
Costco Wholesale
Dollar General
Family Dollar
K-Mart
Target Stores
Walmart
Drug Stores
CVS Pharmacy
Duane Reade
Eckerd Drug
Rite-Aid
Sav-on Drug
Walgreens
Osco
Drug Emporium
Food Stores
Albertson's
Aldi's
US Army and US Air Force
Fleming Foods
Food Lion
Giant Eagle
Great Lakes
H.E.B. Markets
McLane
Meijer
Nash Finch
Price Chopper
SAJ Distributers
Save-A-Lot
Shop Rite
Supervalue
Wegman's
Winn Dixie
Demoulas
PFI works with the following companies, and produces products sold under their brands:
Contract Manufacturing Customers
Bristol Myers-Squibb
Hogil Pharmaceutical
Johnson & Johnson/Merck
Kaiser Permanente
McNeil Consumer Products
Novartis
Pfizer
Proctor & Gamble
Blairex
Whitehall-Robins
CB Fleet
Dell Labs
By the way, they are the primary manufacturer of Benadryl products and Lotrimin and Micatin Aerosol Fungal sprays.
(19) Off the "radar screen"
PHFR has turned itself around, but virtually no one is following the company. It is definitely "off the radar screen" for now. Since the company has NOT been actively promoting, or seeking out press coverage, virtually nobody knows about its turn-around, or its expansion yet. If they continue to show improving results, then it is simply a matter of time before the company is "discovered" by a market watcher or stock picker.
(20) Summary.
PFI is growing, adding new talent, adding new clients, increasing margins, increasing manufacturing capacity, hiring new help, acquiring new products, and we think it is on the verge of being re-discovered by the investment community. The shares trade (for now) on the OTC:BB under the symbol PHFR, currently for less than a US dollar.
November 9, 2003 -
Notice: ********* is a private investor and is not a registered financial advisor. This report is neither a solicitation for the purchase or sale of securities nor is it investment advice. Information contained in this report is from sources deemed reliable, but no warranty of the information presented is either expressed or implied. Persons interested in investing in any security should research the company, review its filings with the United States Securities and Exchange Commission and/or seek competent professional advice before investing. SEC filings for PHFR may be viewed on EDGAR.
UDW news.
US Dataworks Announces Fiscal 2004 Second Quarter Financial Results
HOUSTON, Oct. 30 /PRNewswire-FirstCall/ -- US Dataworks , a developer of payment processing software, today announced financial results for its fiscal 2004 second quarter for the period ended September 30, 2003. Revenue for the three months ended September 30, 2003 was $959,000, compared with revenue of $318,000 for the corresponding period in the prior year. Operating loss for the period was $227,000 compared to an operating loss of $588,000 for the quarter ended September 30, 2002. Net loss for the second quarter of fiscal year 2004 was $3,425,000, or $0.21 per share, compared to a net loss of $849,000, or $0.07 per share, for the corresponding period in the prior year. Net loss for the fiscal 2004 second quarter included non-recurring, non-cash charges of approximately $3.1 million in connection with certain debt conversions and refinancings.
For the six months ended September 30, 2003, revenue was $1,446,000 as compared to $1,091,000 for the corresponding period in the prior year. Operating loss for the first six months of fiscal 2004 was $880,000 compared to an operating loss of $908,000 for the comparable period in fiscal year 2003. Net loss for the six months ended September 30, 2003 was $5,501,000, or $0.35 per share, compared to a net loss of $1,435,000, or $0.13 per share, for the six months ended September 30, 2002. The net loss for the six months ended September 30, 2003 included non-recurring, non-cash charges of approximately $4.5 million in connection with certain debt conversions and refinancings.
As previously reported in the Company's Form 8-K filed on October 2, 2003, subsequent to the end of the second quarter of fiscal 2004, the Company successfully closed a private placement financing of common stock and convertible debt that raised $4,225,000. The Company intends to use the proceeds of the private placement for working capital and other general corporate purposes.
"This quarter marked a turning point for the Company as we began to generate significant revenue growth," said Charles E. Ramey, CEO of US Dataworks. "We believe these revenues reflect the increasing acceptance of our software. While we are pleased by the increasing demand for our software, we feel that the passage by Congress of Check 21 will help transform this Company dramatically. As a result, we are positioning the Company to accommodate the anticipated demand from current and prospective customers."
"In the last seven months, we have paid down or converted to equity approximately $4.0 million in indebtedness, simplified our capital structure and obtained working capital, which we believe has positioned the Company for future growth opportunities. We now feel that we have the infrastructure in place to support rapid growth."
About US Dataworks
US Dataworks is a developer of payment processing software, serving several of the top banking institutions, credit card issues, and the United States Government. Software developed by US Dataworks is designed to enable organizations to transition from traditional paper-based payment and billing processes to electronic solutions. Core products include: MICRworks, MICRworks-Lite, Returnworks, Remitworks, and Remoteworks-Daemon.
About Check 21
The Federal Reserve Board has developed Check 21 to remove certain legal impediments to check truncation (i.e., electronic information about the truncated checks is presented to paying banks instead of the original paper checks themselves). Check 21 is designed to facilitate check truncation, to foster innovation in the check collection system without mandating the receipt of checks in electronic form, and to improve the overall efficiency of the nation's payments system.
Check 21 may result in substantial payments system benefits, depending on the extent to which banks take advantage of provisions of Check 21 to expand the use of electronics in the collection and return of checks. Check 21 should result in faster collection and return of checks and lower costs in the long run; in addition, Check 21 would reduce banks' reliance on air and ground transportation for collection and return of checks. The more rapid check collection and return process could be accomplished in many ways, with benefits likely accruing to both banks and their customers. For additional information, go to the Federal Reserve Bank website (http://www.federalreserve.gov/).
Hey Scrooge, I only show a little over 12 million shares with some warrants outstanding. That is the after the 5 for 1. They did issue some shares after the split to look after some debt and operating expenses... As far as dropping I don't believe we will see it go below 3 bucks let alone .34 cents. With the passage of the banking bill and the savings that can be had, I would say this is a very good product UDW offers.
I could be wrong, (was wrong once before...LOL) but I dont see this fading!
Mike
"Bush to Sign Electronic Banking Bill
Tue Oct 28, 8:14 AM ET Add White House - AP to My Yahoo!
Update - October 28, 2003
Check 21 was signed into law by President George W. Bush today at approximately 1:55 p.m. EST.
WASHINGTON - A bill awaiting President Bush (news - web sites)'s signature would allow banks to clear checks electronically, potentially slashing paperwork.
AP Photo
Under the legislation, banks will be able to approve digital images of checks rather than physically transport them between financial institutions.
The bill changes the current requirement that banks have specific agreements with other institutions to electronically process checks. Banks, customers and businesses that still want paper checks could request a substitute check, which has the same legal status as a regular one, to confirm the electronic transfer.
Bush was signing the legislation Tuesday in a White House ceremony.
With tens of billions of checks processed annually, the current system is prone to delays when air transportation halts. The Sept. 11, 2001, attacks lent urgency to electronic check legislation, as banks had to resort to slower ground transportation when planes were grounded. "
US Dataworks Prepares for Passage of Check-21
2003-10-07 09:51 ET - News Release
HOUSTON, Oct. 7 /PRNewswire-FirstCall/ -- US Dataworks today announced, based upon its discussions and with its existing customers, that its customers at full volume should process over 1.3 billion account receivable conversion ("ARC") transactions annually, representing approximately 14.5% of the total Automated Clearing House ("ACH") transactions processed by the ACH Network (based on ACH 2002 year end data), a portion of which UDW should be directly involved with the processing of such transactions.
As a result of the recent changes in the National Automated Clearing House Association Rules and a reinterpretation of Regulation E (12 CFR 205.1 et seq., the federal regulations governing electronic funds transfers) in March of this year, banks and other processors of paper checks may now convert a majority of their paper checks into electronic transmissions, known as account receivable conversions, or ARC. By converting paper checks into ARC, the processor no longer needs to handle, store and remit the paper check --- an image of the paper check is made and the data can be read, stored and transmitted electronically.
Though the savings of converting a paper check to ARC may be relatively small on a per transaction basis, we believe the savings are quite significant when multiplied by the millions of transactions processed monthly by many of the larger banks, retail merchants, governmental agencies, credit cards companies, utilities, insurance companies and other large billers.
Despite the potential savings paper check processors may realize from converting their paper checks into electronic transmissions, only a limited number of processors have fully implemented ARC. A number of processors have not switched to ARC because not all checks may be electronically converted, requiring processors to maintain dual processes for both paper and paperless transactions.
"We believe that the passage of Check Truncation Act for the 21st Century, or Check 21, should eliminate many of the objections most merchants and banks have with switching to a fully electronic check processing system," said US Dataworks President and COO Terry Stepanik. "We are continuing to work with existing customers and with several new partners to bring a fully functioning Check 21 system to market prior to the legislative effective date." Check 21 has been approved by the House and Senate Conference Committee on October 1, 2003 and, following ratification from Congress, will be presented to the president for signature into law.
About Check 21
The Federal Reserve Board has developed Check 21 to remove certain legal impediments to check truncation (i.e., electronic information about the truncated checks is presented to paying banks instead of the original paper checks themselves). Check 21 is designed to facilitate check truncation, to foster innovation in the check collection system without mandating the receipt of checks in electronic form, and to improve the overall efficiency of the nation's payments system.
Check 21 may result in substantial payments system benefits, depending on the extent to which banks take advantage of provisions of Check 21 to expand the use of electronics in the collection and return of checks. Check 21 should result in faster collection and return of checks and lower costs in the long run; in addition, Check 21 would reduce banks' reliance on air and ground transportation for collection and return of checks. The more rapid check collection and return process could be accomplished in many ways, with benefits likely accruing to both banks and their customers. For additional information, go to the Federal Reserve Bank website (http://www.federalreserve.gov/).
About US Dataworks
US Dataworks is a developer of electronic check processing software, serving several of the top banking institutions, credit card issues, and the United States Government. Software developed by US Dataworks is designed to enable organizations to transition from traditional paper-based payment and billing processes to electronic solutions. Core products include: MICRworks, MICRworks-Lite, Returnworks, Remitworks, and Remoteworks-Daemon.
FOR MORE INFORMATION:
Contact:
Charles E. Ramey
US Dataworks, Inc.
(713) 934-3855 X200, cramey@usdataworks.com, http://www.usdataworks.com/
Investor Relations: Geoffrey Eiten
National Financial Network
(781) 444-6100 X613, geiten@nfnonline.com, http://www.nfnonline.com/udw
Except for the historical information contained herein, the matters set forth in this press release, including, but not limited to, transactions processed by US Dataworks, expectations regarding the benefits of electronic check processing and the passage of Check 21, increase in transactions following the passage of Check 21, adoption of paperless processing systems, the timing and implementation of a Check 21 system, and the expected cost savings of a Check 21 system are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, but not limited to, the Company's position in the marketplace, our ability to develop and timely introduce products that address market demand, the impact of alternative technological advances and competitive products, market fluctuations, our ability to obtain future financing and other risks detailed from time to time in the SEC reports of US Dataworks, Inc., including its annual report on Form 10-KSB/A for the period ended March 31, 2003 and its quarterly report on Form 10-QSB/A for the period ended June 30, 2003. These forward-looking statements speak only as of the date hereof. US Dataworks disclaims any obligation to update these forward-looking statements.
Linchuck, sorry I did not notice your post.... Have to open my eyes.
Mike
Scrooge, you should like that UDW as they just did a 5 for 1 reverse... Looked after their debt and not too many shares outstanding.
Mike
Here is one to keep an eye on. UDW on the Nasdaq.
Up a fair bit today but I would imagine it is going to run for a while.
They are just getting some legislation signed by Bush (today) put into effect... Called Check 21, check truncation bill.
http://story.news.yahoo.com/news?tmpl=story&u=/ap/20031028/ap_on_go_pr_wh/bush_electronic_checks...
see www.eccho.com
I find the bid side of ARSW pretty interesting.... The two MM's that do unsolicited buying and selling are bidding for what ever amount is available..
OTCBB Level 2 Display For ARSW
Market Maker Quotes
Bid Ask
Source MM id Size Price
Otcbb TRAC 9999 0.0061
Otcbb DATA 9999 0.0061
Otcbb WIEN 50 0.006
Otcbb CRWN 50 0.006
Otcbb HILL 50 0.006
Otcbb FRAN 50 0.006
Otcbb SCHB 50 0.006
Otcbb GVRC 50 0.006
Otcbb NITE 50 0.006
Otcbb MAYF 50 0.005
Otcbb JEFF 50 0.005
Otcbb NATL 50 0.005
Otcbb VFIN 50 0.005
Otcbb BAMM 50 0.005
Otcbb GNET U
Price Size MM id Source
0.007 50 SCHB Otcbb
0.007 50 NITE Otcbb
0.008 50 GVRC Otcbb
0.009 50 CRWN Otcbb
0.01 50 HILL Otcbb
0.01 50 VFIN Otcbb
0.013 50 JEFF Otcbb
0.015 50 MAYF Otcbb
0.03 50 WIEN Otcbb
0.03 50 BAMM Otcbb
0.031 50 FRAN Otcbb
0.099 50 NATL Otcbb
GNET U Otcbb
TRAC Otcbb
DATA Otcbb
Two of my stocks are moving today... ARSW, don't know why, but it is up 86%, and ADZR is starting to have a little buying pressure.
usxp UP 80%, DARN......EOM
USXP is going to have a MAJOR gap up this morning....Too bad I did not still own this one.
Mike
BAMM and GNET are now starting to unload some of those shares..
My ticker here Linchuck is heating up!!!!eom
My ticker here Linchuck is heating up!!!!eom
MM BAMM is the one buying everything. I wonder if they have any ties to this Equity Report..
EquityNet Research Initiates Coverage of AdZone Research
2003-10-09 09:00 ET - News Release
LOS ANGELES, Oct. 9, 2003 -- AdZone Research, Inc. (OTCBB:ADZR), a pioneering Internet surveillance technology solutions provider, today reported that EquityNet Research, headquartered here, has initiated coverage of the company with a speculative buy recommendation.
The firm's founder and senior equity analyst, Randall D. Lewis, wrote the research report. Lewis is the holder of the Chartered Financial Analyst (CFA) designation, and a member of The Association for Investment Management and Research (AIMR), an international, nonprofit organization whose mission is to serve its members and investors as a global leader in educating and examining investment managers and analysts, and sustaining high standards of professional conduct.
In his report, Lewis points out that AdZone is "At a critical turning point as it is attempting to transition from a development stage to a revenue producing company. While such transitions generally entail a high degree of risk, they also have the potential to generate high levels of returns for investors. Assuming that AdZone is able to meet certain financial and operational targets, the stock may prove highly undervalued."
Noting that the U.S. government's focus on modernization through increased spending on information technology reflects the critical role that this capability plays both in national security and improving government efficiency, the report states, "...the war on terrorism, coupled with the rapid rate of technological change, has increased the U.S. military's need for more efficient and advanced information, communications, and military platform capabilities. It logically follows that the Internet will be a large part of this transformation, and with increased online use comes increased need for online security."
In his report, Lewis indicates that in matters of corporate security alone, "One third of companies are still not adequately equipped to deal with an attack on their computer networks by cyberterrorists," and that "AdZone's main goal is to apply its monitoring expertise as a cyber security tool for industry and government as part of the larger Homeland Security and other defense-related endeavors. Therefore," Lewis wrote, "the demand for NetGet is quite large and can potentially come from: 1. Defense and Intelligence Contractors; 2. Federal Intelligence and Defense Agencies; 3. State Intelligence and Defense Agencies; 4. Local Law Enforcement Agencies; 5. International Intelligence and Defense Agencies; 6. Domestic Corporations and 7. International Corporations."
In discussing the company's technology, the report notes: "AdZone's proprietary NetGet( system can monitor virtually anything on the Web. The original system, which incorporates logic from the field of astrophysics, was designed for maximum flexibility, allowing virtually any type of Web content to be monitored, stored and analyzed."
In discussing AdZone's competitive position, the report notes "Many of the firms that would be viewed as competitors are actually potential strategic partners. In addition, AdZone is believed to be an attractive partner for larger government contractors since it is headquartered in a HUBZone (Historically Underutilized Business Zone), and under the Small Business Administration, qualifies the large contractor to allocate up to 25% of the total contract to smaller subcontractors, thereby enhancing its likelihood of winning the bid."
Moreover, it says, "...from a technological standpoint, NetGet's competitive strengths are the facts that: It is the only commercially develop Web tracking product that is able to monitor data and information at the BIT level. No other product that we know about has the ability to break down data that small.
In addition, the report notes, "It is the only scanning technology that integrates logic from astrophysics. Based on the background of AdZone CEO Charles Cardona, these sophisticated applications are built into the system."
Equally important, Lewis notes, is that "Report analysis is more sophisticated. Because monitoring can be broken down like no other product, it follows that the analysis gleaned from the information will be superior."
In discussing current financial information, the report notes, "Since the company has not fully commenced operations, management is of the opinion that current financial results are not a meaningful indicator of future operations. And it indeed appears this is the case...AdZone has transitioned itself...to a firm with a bona-fide counter-terrorism initiative as its primary focus - and the contracts are in this area." The report also notes that that company is currently pursuing a $500,000 private placement to meet short term needs.
In its outlook and valuation section the report states "...AdZone has been positioning itself over the last several months to take advantage of a very large market where existing products are only marginally meeting the growing demands for anti-terrorism efforts at the technological level...
"First and foremost, the company is now in the mix with the major government contractors. As it relates to this fact, we believe the most likely scenario (and the pay-off to investors) is that AdZone will eventually become an acquisition target. There seems to be a consolidation wave in the defense industry right now. Lockheed Martin Corp.'s purchase of defense-information-technology company Titan Corp. has given other small information-technology companies a boost as investors consider which might be the next takeover target. In August, General Dynamics Corp. completed the acquisition of Veridian Corp., a network security and intelligence company. Chris Mecray, analyst with Deutsche Bank in New York, said the Lockheed deal with Titan confirms that the sector continues to consolidate.
"Big defense contractors," the report goes on to say, "seem eager to get their hands on the technology companies as the U.S. has changed its approach to defense to more intelligence gathering, which requires sophisticated computer networks and tracking, rather than big guns and equipment. AdZone certainly seems to fit into this mix, particularly having already signed a contract with a major defense firm. Of course, when the acquisition takes place and at what price cannot be known now.
"In the interim, we would expect relationships to continue to grow in the area of homeland security. It would be likely that as these relationships grow, a formal partnership arrangement could be formed whereby a larger firm (most likely a large defense contractor), would fund the company's R&D and marketing efforts. In addition to the potential grants and revenue that a partnership can bring, there are other reasons why partnering with large, established companies is a good idea:
- The government has difficulty dealing with small companies;
- Potential partners would already have relationships with
federal agencies and departments;
- Defense contractors have already been cleared for the
highest levels of security;
- Potential partners would have visual enhancement and
decryption technology to further exploit AdZone's findings.
"Of course," the report concludes, "valuing a start-up with solid potential is a daunting task at best...Therefore, we are not placing a specific price target for the stock, but have outlined a strong argument for undervaluation relative to its current $0.18 price in this report. As we see in the biotech world, companies that are just transitioning from start-up to potentially high revenue-generation are often afforded high valuations. In short, the current market cap of $11.2 million is very small relative to what can be realized in terms of earnings and revenues over the next several years."
The full text of the report is available at www.equitynet.net .
AdZone Research is headquartered in Calverton, N. Y., in a secured facility that formerly housed major defense contractor Northrop Grumman Corporation. The facility was earlier used for top-secret defense research and development, and was part of the United States Navy's Naval Defense Technology Center.
Through monitoring of more than 500,000 Web sites worldwide, AdZone provides tracking and monitoring of targeted information on the Internet, with an expanded focus on global Internet analysis of security-related data transmissions. For additional information, please visit the company's Web site at www.adzoneresearch.com.
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
EquityNet Research is an independent research firm, and has been compensated $6,000 by the Investor Relations Network, AdZone's investor relations counsel, for the report's background research and preparation.
More information on Homeland Security issues, including news releases, events and experts available for comment, can be found on the Homeland Security Newsline at www.primezone.com/hs
Hmmmmm, anyone watching my ADZR?????.eom
SmarTire Launches New Products Targeted at Recreational Vehicle Market
RICHMOND, BC, Oct. 7 /PRNewswire-FirstCall/ -- SmarTire Systems Inc. (OTCBB: SMTR) announces the launch of two new products, RoadVoice and TrailerVoice, which represent the first tire monitoring systems targeted specifically at the recreational vehicle, towed vehicle and trailer markets.
The recreational vehicle industry is a $12.3B market in the US, which grew at 7.2% last year. As is the case with passenger car tires, recreational vehicle tire under-inflation is a serious concern. A recent study conducted by the Recreational Vehicle Safety Education Foundation revealed that four out of five RVs had at least one tire under-inflated and a third of those were dangerously under-inflated to the point of being at risk of failure.
RoadVoice is a tire monitoring system designed specifically for light recreational vehicles and vehicles or trailers towed behind large motorhomes. The RoadVoice family of products will be expanded in early 2004 to include larger motorhomes and buses. RoadVoice is currently being tested by manufacturers of recreational vehicles, associated chassis manufacturers and commercial vehicle operators in North America, Europe and Asia.
TrailerVoice is a tire monitoring system designed to monitor single and double axle boat and horse trailers, car haulers, farm trailers and other utility trailers. The company also announces that EZ Loader Boat Trailers custom division will include the TrailerVoice system as standard equipment on their dealer direct line of trailers and as optional equipment on all other models direct to the boat manufacturers. EZ Loader Boat Trailers is a privately owned company with 50 years experience and currently one of the largest producers of recreational boat trailers in the world.
"The SmarTire TrailerVoice system differentiates our trailer offering to our high-end, quality boat manufacturing customers," says Gary Potter General Manager of EZ Loader. "It is extremely difficult for a driver to detect an under-inflated tire or a tire puncture on a boat trailer. To protect the investment in their boat and trailer, our customers are beginning to demand tire monitoring systems."
SmarTire Systems Inc. develops and markets proprietary tire monitoring systems for the North American, European and Asian automotive and transportation industries. Incorporated in 1987, SmarTire is a public company with offices in North America and Europe. Additional information can be found at http://www.smartire.com/.
"Robert Rudman"
Robert Rudman
President and Chief Executive Officer
ADZR is looking like it will continue yesterdays rise. bid/ask is .18/.20 with 3 on each side.
Mike
ADZR is firming up and starting to m ove in the upward direction.. Added a bit more this morning.
Mike
Interesting post on the RB board for ADZR.
http://ragingbull.lycos.com/mboard/boards.cgi?board=ADZR&read=14210
ADZR has called my bluff.... and stayed level with no volume per say... hmmmmmm Thought it was poised yesterday!
Figures USXP would start to rise after I sold!
Mike
MM lineup for ADZR has something ???? written all over it!!1
OTCBB Level 2 Display For ADZR
Market Maker Quotes
Bid Ask
Source MM id Size Price
Otcbb JEFF 50 0.15
Otcbb NITE 50 0.15
Otcbb SCHB 50 0.15
Otcbb TDCM 50 0.15
Otcbb VIEW 50 0.15
Otcbb WIEN 50 0.15
Otcbb BAMM 50 0.145
Otcbb CRWN 50 0.145
Otcbb GVRC 50 0.145
Otcbb PERT 50 0.145
Otcbb HILL 50 0.14
Otcbb AGIS 50 0.13
Otcbb VFIN 50 0.10
Otcbb BSIC 50 0.05
Otcbb DOMS 50 0.05
Otcbb FRAN 50 0.05
Otcbb NATL 50 0.04
Otcbb VNDM 50 0.02
Otcbb FRGP 50 0.01
Otcbb QUIN
Price Size MM id Source
0.17 50 BAMM Otcbb
0.17 50 NITE Otcbb
0.17 50 PERT Otcbb
0.17 50 SCHB Otcbb
0.175 50 JEFF Otcbb
0.18 50 GVRC Otcbb
0.19 50 CRWN Otcbb
0.20 50 TDCM Otcbb
0.20 50 VIEW Otcbb
0.23 50 AGIS Otcbb
0.24 50 WIEN Otcbb
0.27 50 DOMS Otcbb
0.29 50 HILL Otcbb
0.30 50 FRAN Otcbb
0.30 50 VNDM Otcbb
0.374 50 NATL Otcbb
0.51 25 BSIC Otcbb
0.66 25 VFIN Otcbb
1.01 5 FRGP Otcbb
QUIN Otcbb
ADZR, If I were a betting man, and I have been know to put a few dollars down on the table, (leave some dollars as well...LOL), I would say something is in the pipe for ADZR. The MMs have suddenly amassed a solid bid side in the last 30 minutes, with some upward pressure!!! Keep a watch.. I think I might scoop a few more and keep my cards close to the chest!!!!
OTCBB Level 2 Display For ADZR
Market Maker Quotes
Bid Ask
Source MM id Size Price
Otcbb NITE 50 0.155
Otcbb JEFF 50 0.15
Otcbb SCHB 50 0.15
Otcbb TDCM 50 0.15
Otcbb VIEW 50 0.15
Otcbb WIEN 50 0.15
Otcbb BAMM 50 0.145
Otcbb CRWN 50 0.145
Otcbb GVRC 50 0.145
Otcbb PERT 50 0.145
Otcbb HILL 50 0.14
Otcbb AGIS 50 0.13
Otcbb VFIN 50 0.10
Otcbb BSIC 50 0.05
Otcbb DOMS 50 0.05
Otcbb FRAN 50 0.05
Otcbb NATL 50 0.04
Otcbb VNDM 50 0.02
Otcbb FRGP 50 0.01
Otcbb QUIN
Price Size MM id Source
0.16 50 AGIS Otcbb
0.165 50 BAMM Otcbb
0.165 50 NITE Otcbb
0.17 50 SCHB Otcbb
0.175 50 JEFF Otcbb
0.175 50 PERT Otcbb
0.18 50 GVRC Otcbb
0.19 50 CRWN Otcbb
0.20 50 TDCM Otcbb
0.20 50 VIEW Otcbb
0.24 50 WIEN Otcbb
0.27 50 DOMS Otcbb
0.29 50 HILL Otcbb
0.30 50 FRAN Otcbb
0.30 50 VNDM Otcbb
0.374 50 NATL Otcbb
0.51 25 BSIC Otcbb
0.55 25 VFIN Otcbb
1.01 5 FRGP Otcbb
QUIN Otcbb
Looks like somebody put in a market order buy on USXP and got hosed.....
.0575 Yikes
USXP, looks like it is lining up things for the weekend. MMs starting to move forward... (Except for one trade)
Don't like that one trade at 14:40:39
Recent Trades - Last 10
Time Ex Price Change Volume
14:41:36 Q 0.051 - 5,000
14:41:09 Q 0.051 - 1,000
14:41:00 Q 0.0509 -0.0001 5,000
14:40:57 Q 0.051 - 25,000
14:40:42 Q 0.051 - 95,000
14:40:39 Q 0.05 -0.001 1,980,000
14:39:42 Q 0.0505 -0.0005 15,000
14:38:18 Q 0.0505 -0.0005 50,000
14:35:30 Q 0.05 -0.001 100,000
14:34:45 Q 0.05 -0.001 50,000
Linchuck, did you catch some AMEP...Could of bought it again after the pull back, but did not..
AMEP taking part in the big tree shake... Hope everyone took some money (if in).
Out at .14... not sure if a pull back has just started... Bids have weakend (spelling??).. Not bad though for one hour!!!11
Mike
Interesting trading on AMEP so far. Someone just dumped 100,000 shares (2 by 50) and the bid still went up. The ask is definetly not holding. Makes me wonder if the big tree shake is not far off.
OTCBB Level 2 Display For AMEP
Market Maker Quotes
Bid Ask
Source MM id Size Price
Otcbb DATA 50 0.12
Otcbb NITE 50 0.12
Otcbb TDCM 50 0.12
Otcbb TRAC 50 0.12
Otcbb VIEW 50 0.12
Otcbb BAMM 50 0.119
Otcbb SCHB 50 0.119
Otcbb FRAN 50 0.105
Otcbb GNET U 100 0.092
Otcbb GVRC 50 0.091
Otcbb AGIS 50 0.09
Otcbb BPAT 50 0.09
Otcbb WIEN 50 0.09
Otcbb CRWN 50 0.078
Otcbb VFIN 50 0.058
Otcbb VNDM 50 0.058
Otcbb JEFF 50 0.056
Otcbb SEAB 50 0.051
Otcbb HILL 50 0.04
Otcbb DOMS 50 0.03
Otcbb NAIB 50 0.02
Otcbb NATL 50 0.017
Otcbb BRGE 50 0.01
Otcbb FRGP 50 0.01
Otcbb MAYF 50 0.01
Otcbb EFGI 50 0.001
Otcbb JSLC 50 0.001
Price Size MM id Source
0.125 50 FRAN Otcbb
0.13 50 CRWN Otcbb
0.13 50 GVRC Otcbb
0.13 50 NITE Otcbb
0.13 50 TDCM Otcbb
0.137 50 VFIN Otcbb
0.14 50 WIEN Otcbb
0.147 50 NATL Otcbb
0.148 50 DOMS Otcbb
0.15 50 BAMM Otcbb
0.15 50 BPAT Otcbb
0.15 50 JEFF Otcbb
0.15 50 SCHB Otcbb
0.18 50 FRGP Otcbb
0.20 50 MAYF Otcbb
0.20 50 VNDM Otcbb
0.21 50 NAIB Otcbb
0.25 50 HILL Otcbb
0.375 50 SEAB Otcbb
0.40 50 AGIS Otcbb
0.55 25 BRGE Otcbb
1.00 25 JSLC Otcbb
1.00 25 VIEW Otcbb
5.01 5 EFGI Otcbb
DATA Otcbb
GNET U Otcbb
TRAC Otcbb
Now were talking!!!!eom
hehehehe....You would almost think they were listening to me..
OTCBB Level 2 Display For AMEP
Market Maker Quotes
Bid Ask
Source MM id Size Price
Otcbb NITE 50 0.119
Otcbb SCHB 50 0.119
Otcbb DATA 50 0.115
Otcbb TDCM 50 0.115
Otcbb TRAC 50 0.115
Otcbb BAMM 50 0.113
Otcbb FRAN 50 0.105
Otcbb GNET U 100 0.092
Otcbb GVRC 50 0.091
Otcbb AGIS 50 0.09
Otcbb BPAT 50 0.09
Otcbb WIEN 50 0.09
Otcbb CRWN 50 0.078
Otcbb VFIN 50 0.058
Otcbb VNDM 50 0.058
Otcbb JEFF 50 0.056
Otcbb SEAB 50 0.051
Otcbb HILL 50 0.04
Otcbb VIEW 50 0.04
Otcbb DOMS 50 0.03
Otcbb NAIB 50 0.02
Otcbb NATL 50 0.017
Otcbb BRGE 50 0.01
Otcbb FRGP 50 0.01
Otcbb MAYF 50 0.01
Otcbb EFGI 50 0.001
Otcbb JSLC 50 0.001
Price Size MM id Source
0.12 50 BAMM Otcbb
0.12 50 CRWN Otcbb
0.12 50 GVRC Otcbb
0.125 50 FRAN Otcbb
0.125 50 NITE Otcbb
0.125 50 SEAB Otcbb
0.125 50 TDCM Otcbb
0.137 50 VFIN Otcbb
0.14 50 WIEN Otcbb
0.147 50 NATL Otcbb
0.148 50 DOMS Otcbb
0.15 50 BPAT Otcbb
0.15 50 JEFF Otcbb
0.15 50 SCHB Otcbb
0.18 50 FRGP Otcbb
0.20 50 MAYF Otcbb
0.20 50 VNDM Otcbb
0.21 50 NAIB Otcbb
0.25 50 HILL Otcbb
0.40 50 AGIS Otcbb
0.55 25 BRGE Otcbb
1.00 25 JSLC Otcbb
1.00 25 VIEW Otcbb
5.01 5 EFGI Otcbb
DATA Otcbb
GNET U Otcbb
TRAC Otcbb
AMEP gapped up nicely this morning with some quick buying. Only one MM pressing the bid right now though (NITE).. If the gap fills in it should move up some more.