BullSticks

[charthawk]

re: WZEN

WZEN Webzen: Stock down for eight consecutive days in South Korea while co remains on track - BWS Financial (5.17 )

BWS Financial notes WZEN has moved down for eight consecutive days in South Korea while the co remains on track to have three games on the market by the end of the year. Firm thinks that over the next three months S.U.N. will be commercially available in South Korea and expects WZEN to initiate a open beta trial in China, which would trigger the co in receiving partial payment from The9 (NCTY) of the $4 mln upfront license fee that the cos had agreed upon. They say that during the summer WZEN is also expected to initiate closed beta trial for Kingdom of Warriors and Wiki, both of which would be followed by open beta trials expected by the start of fall. They believe that if WZEN is able to achieve having five revenue-generating games on the market than the stock could hit $18 in 2007.