Dow Jones Suggests Universal Express Price Due to Dilution Not Shorting
Oct 7, 2003 (financialwire.net via COMTEX) -- (FinancialWire) Universal Express, Inc. (OTCBB: USXP), which Monday revealed that its CEO Richard Altomare had contacted leaders of the Senate Banking Committee and the House Financial Services Committee requesting Congressional oversight of certain activities of the Denver office of the Securities and Exchange Commission which had subpoenaed the company for proof that the stock price was “impacted by naked short selling," also found itself the subject of a Dow Jones (NYSE: DJ) article authored by reporter Carole Remond that questioned if the company's stock price has been more likely impacted by dilution resulting from shares sold for financing purposes.
The company said it had fully answered the subpoena but asked the Congress to “investigate what is going on regarding the subpoena."
Altomare commented, "We hope for a hearing. We believe the subpoena is the tip of the iceberg of a misplaced focus on the small emerging businesses that are speaking out against illegal naked short sellers. We need Congress to get involved, gather the facts and encourage the new SEC leadership to focus the regulators on the perpetrators, not the victims. SEC neglect in overlooking the activities of broker dealers and market makers--largely a self-regulated lot--is permitting corrupt naked short selling practices. We need integrity restored. Billions of dollars and thousands of jobs are tied up in the economic terrorism associated with illegal naked short selling."
Universal Express has been listed along with some 119 companies impacted by manipulative trading. Remond points out, however, that some companies, such as those represented by “a promotional firm called Investor Communications International Inc., or ICI," located on the U.S. side of the Canadian border, which “began encouraging investors and publicly traded companies to take steps to fight what it labeled as illegal, or naked, short selling," including the establishment of a national organization, may have actually benefited from the decline in stock prices. The promotional firm wound up acquiring several of its clients by exchanging shares for the forgiveness of several months of invoices once the share price had dropped to a fraction of its value before ICI had become involved.
Both FinancialWire and the Dow Jones covered various aspects of these events, and the companies are still listed among the 119 in FinancialWire's list. At least one of the companies was covered by an Investrend Research analyst but was suspended. News provider FinancialWire is a product of Investrend Information, a sister but separate unit to Investrend Research. An Investrend Research analyst, Jeff Howlett, also coincidentally, currently provides independent research coverage on Universal Express. Full details regarding the coverage and disclaimers, including fees paid for the coverage, are accessible on each report and at www.investrendresearch.com .
In her article, Remond said that while Universal Express has been “blaming the lackluster performance of its stock on what it calls 'illegal; short selling ... perhaps the luggage delivery service company should take a look at its business model -- such as the enormous share dilution created by Universal's generous issuance of stock.
“The fact is that Universal's vital stats don't look so good. The company's most recent annual report filed last week with the Securities and Exchange Commission shows revenues of $2.4 million million for the fiscal year ended June 30, up sharply from $431,199 the year prior," Remond stated.
“But a closer look at the financials shows that the company had a net loss of $6.5 million for the year ended in June, compared with a loss of $3.5 million a year ago. At the same time, operating expenses jumped to $2.7 million in the latest period from $1.8 million a year ago. As of the end of June, Universal had just $242,037 in cash and a working capital deficiency of $2 million."
Remond said that Altomare said that in response to the subpoena, “the company provided the SEC with 11,000 to 12,000 pages of documents about the company's current allegations of illegal short selling as well as a previous lawsuit against Universal's former investment banker in which the company was awarded a total of $526 million in judgments in Florida. Altomare said that the Florida case was 'part of the naked short concept.'
Remond said that when asked about the company's “massive use of new shares to finance its operations and the potential for dilution, Altomare said during the interview that 'the amount or degree of dilution is caused not by (Universal's) business model but by the pressure of naked short selling.' Universal issued a whopping 267.4 million shares in the fiscal year ended in June, or about 732,523 shares daily. That and additional shares issued since June bring Universal's current float to about 542.3 million shares.
"Universal has been very fortunate over its 16 years in existence to always be able to raise necessary capital for its business model and business plan," Altomare was quoted by the Dow Jones as saying, adding that his company would continue to 'utilize public stock' to finance itself."
Remond said that the CEO said that Universal Express “intends to soon apply for a listing on the New York Stock Exchange. Asked how Universal could qualify for a listing on the Big Board, Altomare referred to "announcements and acquisitions that would qualify (Universal) in the very near future."
Under the New York Stock Exchange's listing requirements, companies must, among other criteria, have pretax earnings of $6.5 million over the last three years and must be a going concern, noted Remond.
Remond noted that Universal's most recent SEC filing also shows $819,060 in an outstanding loan to Altomare, and that the board has agreed to forgive 10% of the loan amount per year. The filing also shows a loan for $906,000 to Altomare's wife, but notes the filing said the repayment terms of that loan have not been determined.
Asked why Universal's would use some of its little cash to make loans to himself and his wife, Altomare was quoted by the Dow Jones as saying that "these loans don't even approach salaries that we are owed," and pointed out that his wife was an executive vice president of the company.
“Altomare is the only director on Universal's board. Under his employment agreement, Altomare receives an annual base salary of $300,000. Universal's latest SEC filing shows that Altomare received $235,844 in cash compensation for the fiscal year ended June, 30. The filing also shows that as of that date, Universal owed the executive about $1 million," said the article.
There are 119 public companies that have so far been touched by the growing national financial scandal.
Some thirteen on the list of 119, such as A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), E*Trade Group, Inc. (NYSE: ET), FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), Knight Securities, LP (NASDAQ: NITE), Ladenburg Thalmann & Co., Inc. (AMEX: LHS), M. H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion's (NYSE: TD), TD Waterhouse Group and vFinance, Inc. (OTCBB: VFIN), have been accused by one or more public companies as allegedly participating in short selling activities or abuses, or of failing to settle trades.
Observers have said that trades to not settle because broker-dealers do not effect buy-ins, as required by law, and that there is an unspoken understanding that any brokerage that tries to force a buy-in will be retaliated against.
The remaining 106 companies have issued press releases or been named in the media as having been victimized, or as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain.
On June 4, the SEC stated “the issues surrounding naked short selling are not germane to the manner in which DTC operates as a depository registered as a clearing agency. Decisions to engage in such transactions are made by parties other than DTC. DTC does not allow its participants to establish short positions resulting from their failure to deliver securities at settlement. While the Commission appreciates commenters' concerns about manipulative activity, those concerns must be addressed by other means."
Nevertheless, short positions do in fact exist due to failures of the electronic settlement system to balance their electronic books, and the SEC has provided shareholders and small companies with no inkling of what the Commission has in mind in “addressing" these concerns “by other means."
However, in mid-September the SEC admitted in a Dow Jones interview that “naked short selling" is a problem, and said its market regulatory division is taking aim at the practice. However, one public company reported that two days later a field office of the SEC asked the public company to “prove naked short selling exists," once more seemingly sending mixed signals to shareholders trapped in the manipulators' vise.
Recently the NASD revealed its plan to stop the practices that have ravaged these public companies and their shareholders - a wrist-slap to perpetrators such as Paragon Capital Markets, which was “censured" and fined $35,000 after the NASD said it had “executed short-sale orders in certain securities and failed to make an affirmative determination prior to executing such transactions." An even smaller fine was subsequently assessed against vFinance for similar allegations.
The complete list of those 106 companies include Advanced Viral Research Corp. (OTCBB: ADVR), AdZone Research, Inc. (OTCBB: ADZR), Amazon Natural Treasures (OTC: ANTD), America's Senior Financial Services (OTCBB: AMSE), American Ammunition, Inc. (OTCBB: AAMI), AngelCiti Entertainment (OTCBB: AGLC), ATSI Communications, Inc. (OTC: ATSC), Federal Agricultural Mortgage / Farmer Mac (NYSE: AGM) Allied Capital (NYSE: ALD), American Motorcycle (OTC: AMCYV), American International Industries (OTCBB: AMIN), Ameri-Dream (OTC: AMDR), Adirondack Pure Springs Mt. Water Co. (OTCBB: APSW), Bluebook International (OTCBB: BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), BIFS Technologies Corporation (OTCBB: BIFT), Biocurex (OTCBB: BOCX). Broadleaf Capital Partners, Inc. (OTCBB: BDLF), Chattem, Inc. (NASDAQ: CHTT), Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), CyberDigital, Inc. (OTCBB: CYBD). Diamond International Group (OTCBB: DMND), Dobson Communications Corp. (NASDAQ: DCEL), Eagle Tech Communications (OTC: EATC), Edgetech Services (OTCBB: EDGH);
Also, Endovasc Ltd. (OTCBB: EVSC), Enviro-Energy Corporation (OTCBB: ENGY), Environmental Products & Technologies (OTC: EPTC), EPIXTAR Corp. (OTCBB: EPXR), eResearchTechnologies, Inc. (NASDAQ: ERES), Flight Safety Technologies (OTCBB: FLST), Freddie Mac (NYSE: FRE), FreeStar Technologies (OTCBB: FSRCE), Geotec Thermal Generators, Inc. (OTCBB: GETC), Genesis Intermedia (OTC: GENI), GeneMax Corp. (OTCBB: GMXX), Global Explorations Inc (OTC: GXXL), Global Path (OTCBB: GBPI), GloTech Industries, Inc. (OTCBB: GTHI), Green Dolphin Systems (OTCBB: GLDS), Group Management (OTCBB: GPMT), Hop-On (OTC: HPON), H-Quotient, Inc., (OTCBB: HQNT), Hyperdynamics Corp. (OTCBB: HYPD), International Biochem (OTCBB: IBCL), Intergold Corp. (OTCBB: IGCO), International Broadcasting Corporation (OTCBB: IBCS), InternetStudios, Inc. (OTCBB: ISTO), ITIS Holdings (OTCBB: ITHH), Investco Corp. (OTCBB: IVCO), Lair Holdings (OTC: LAIR), Lifeline BioTechnologies Inc. (OTC: LBTT), Life Energy & Technology (OTCBB: LETH), MBIA (NYSE: MBI);
Also, MegaMania Interactive (OTC: MNIA), MetaSource Group, Inc. (OTCBB: MTSR), Midastrade.com (OTC: MIDS), Make Your Move (OTCBB: MKMV), Medinah Minerals (OTC: MDMN), MSM Jewelry Corp. (OTC: MSMC), Nanopierce Technologies, Inc. (OTCBB: NPCT), Nutra Pharmaceutical (OTCBB: NPHC), Nutek (OTCBB: NUTK), Navigator Ventures (OTC: NVGV), Orbit E-Commerce, Inc. (OTCBB: OECI), Pitts & Spitts (OTC: PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PACC), PayStar Corporation (OTC: PYST), Petrogen Corp. (OTCBB: PTGC), Pinnacle Business Management (OTC: PCBM), Premier Development & Investment, Inc. (OTCBB: PDVN), PrimeHoldings.com, Inc. (OTC: PRIM), Phlo Corporation (OTCBB: PHLC), Resourcing Solutions (OTC: RESG), Reed Holdings (OTC: RDHC), Rocky Mountain Energy Corp. (OTCBB: RMECE), RTIN Holdings (OTCBB: RTNHE), Saflink Corp. (NASDAQ: SFLK), Safe Travel Care (OTCBB: SFTVV), Sedona Corp. (OTCBB: SDNA);
Also, Sionix Corp. (OTCBB: SINX), Sonoran Energy (OTCBB: SNRN), Starmax Technologies (OTC: SMXIF), Storage Suites America (OTC: SSUA), Suncomm Technologies (OTC: STEH), Sports Resorts International (NASDAQ: SPRI), Technology Logistics (OTC: TLOS), Swiss Medica, Inc. (OTCBB: SWME), Ten Stix, Inc. (OTCBB: TNTI), Tidelands Oil (OTCBB: TIDE), Titan Construction (OTC: TTCS), Trezac Corp. (OTCBB: TRZAV), Universal Express, Inc. (OTCBB: USXP), Valesc Holdings, Inc. (OTCBB: VLSHV), Vega Atlantic (OTCBB: VGAC), Viragen (AMEX: VRA), Viragen International (OTCBB: VGNI), Vista Continental Corporation, (OTCBB: VICC), Viva International (OTCBB: VIVI), Vtex Energy (OTCBB: VXENE) and Wizzard Software (OTCBB: WIZD), WorldTradeShow.com (OTC: WTSW) and Y3K Secure Enterprise Software, Inc. (OTCBB: YTHK).
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FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. Additionally, Investrend provides a wide range of forums, independent research and webcasting platforms for shareholder empowerment. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on www.investrend.com/contact.asp
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Oct 7, 2003 (financialwire.net via COMTEX) -- (FinancialWire) Universal Express, Inc. (OTCBB: USXP), which Monday revealed that its CEO Richard Altomare had contacted leaders of the Senate Banking Committee and the House Financial Services Committee requesting Congressional oversight of certain activities of the Denver office of the Securities and Exchange Commission which had subpoenaed the company for proof that the stock price was “impacted by naked short selling," also found itself the subject of a Dow Jones (NYSE: DJ) article authored by reporter Carole Remond that questioned if the company's stock price has been more likely impacted by dilution resulting from shares sold for financing purposes.
The company said it had fully answered the subpoena but asked the Congress to “investigate what is going on regarding the subpoena."
Altomare commented, "We hope for a hearing. We believe the subpoena is the tip of the iceberg of a misplaced focus on the small emerging businesses that are speaking out against illegal naked short sellers. We need Congress to get involved, gather the facts and encourage the new SEC leadership to focus the regulators on the perpetrators, not the victims. SEC neglect in overlooking the activities of broker dealers and market makers--largely a self-regulated lot--is permitting corrupt naked short selling practices. We need integrity restored. Billions of dollars and thousands of jobs are tied up in the economic terrorism associated with illegal naked short selling."
Universal Express has been listed along with some 119 companies impacted by manipulative trading. Remond points out, however, that some companies, such as those represented by “a promotional firm called Investor Communications International Inc., or ICI," located on the U.S. side of the Canadian border, which “began encouraging investors and publicly traded companies to take steps to fight what it labeled as illegal, or naked, short selling," including the establishment of a national organization, may have actually benefited from the decline in stock prices. The promotional firm wound up acquiring several of its clients by exchanging shares for the forgiveness of several months of invoices once the share price had dropped to a fraction of its value before ICI had become involved.
Both FinancialWire and the Dow Jones covered various aspects of these events, and the companies are still listed among the 119 in FinancialWire's list. At least one of the companies was covered by an Investrend Research analyst but was suspended. News provider FinancialWire is a product of Investrend Information, a sister but separate unit to Investrend Research. An Investrend Research analyst, Jeff Howlett, also coincidentally, currently provides independent research coverage on Universal Express. Full details regarding the coverage and disclaimers, including fees paid for the coverage, are accessible on each report and at www.investrendresearch.com .
In her article, Remond said that while Universal Express has been “blaming the lackluster performance of its stock on what it calls 'illegal; short selling ... perhaps the luggage delivery service company should take a look at its business model -- such as the enormous share dilution created by Universal's generous issuance of stock.
“The fact is that Universal's vital stats don't look so good. The company's most recent annual report filed last week with the Securities and Exchange Commission shows revenues of $2.4 million million for the fiscal year ended June 30, up sharply from $431,199 the year prior," Remond stated.
“But a closer look at the financials shows that the company had a net loss of $6.5 million for the year ended in June, compared with a loss of $3.5 million a year ago. At the same time, operating expenses jumped to $2.7 million in the latest period from $1.8 million a year ago. As of the end of June, Universal had just $242,037 in cash and a working capital deficiency of $2 million."
Remond said that Altomare said that in response to the subpoena, “the company provided the SEC with 11,000 to 12,000 pages of documents about the company's current allegations of illegal short selling as well as a previous lawsuit against Universal's former investment banker in which the company was awarded a total of $526 million in judgments in Florida. Altomare said that the Florida case was 'part of the naked short concept.'
Remond said that when asked about the company's “massive use of new shares to finance its operations and the potential for dilution, Altomare said during the interview that 'the amount or degree of dilution is caused not by (Universal's) business model but by the pressure of naked short selling.' Universal issued a whopping 267.4 million shares in the fiscal year ended in June, or about 732,523 shares daily. That and additional shares issued since June bring Universal's current float to about 542.3 million shares.
"Universal has been very fortunate over its 16 years in existence to always be able to raise necessary capital for its business model and business plan," Altomare was quoted by the Dow Jones as saying, adding that his company would continue to 'utilize public stock' to finance itself."
Remond said that the CEO said that Universal Express “intends to soon apply for a listing on the New York Stock Exchange. Asked how Universal could qualify for a listing on the Big Board, Altomare referred to "announcements and acquisitions that would qualify (Universal) in the very near future."
Under the New York Stock Exchange's listing requirements, companies must, among other criteria, have pretax earnings of $6.5 million over the last three years and must be a going concern, noted Remond.
Remond noted that Universal's most recent SEC filing also shows $819,060 in an outstanding loan to Altomare, and that the board has agreed to forgive 10% of the loan amount per year. The filing also shows a loan for $906,000 to Altomare's wife, but notes the filing said the repayment terms of that loan have not been determined.
Asked why Universal's would use some of its little cash to make loans to himself and his wife, Altomare was quoted by the Dow Jones as saying that "these loans don't even approach salaries that we are owed," and pointed out that his wife was an executive vice president of the company.
“Altomare is the only director on Universal's board. Under his employment agreement, Altomare receives an annual base salary of $300,000. Universal's latest SEC filing shows that Altomare received $235,844 in cash compensation for the fiscal year ended June, 30. The filing also shows that as of that date, Universal owed the executive about $1 million," said the article.
There are 119 public companies that have so far been touched by the growing national financial scandal.
Some thirteen on the list of 119, such as A.G. Edwards, Inc. (NYSE: AGE), Ameritrade Holding Corp. (NASDAQ: AMTD), Deutsche Bank AG (NYSE: DB), E*Trade Group, Inc. (NYSE: ET), FleetBoston (NYSE: FBF), Goldman, Sachs & Co. (NYSE: GS), Knight Securities, LP (NASDAQ: NITE), Ladenburg Thalmann & Co., Inc. (AMEX: LHS), M. H. Myerson & Co., Inc. (NASDAQ: MHMY), Olde / H&R Block (NYSE: HRB), Charles Schwab (NYSE: SCH), Toronto-Dominion's (NYSE: TD), TD Waterhouse Group and vFinance, Inc. (OTCBB: VFIN), have been accused by one or more public companies as allegedly participating in short selling activities or abuses, or of failing to settle trades.
Observers have said that trades to not settle because broker-dealers do not effect buy-ins, as required by law, and that there is an unspoken understanding that any brokerage that tries to force a buy-in will be retaliated against.
The remaining 106 companies have issued press releases or been named in the media as having been victimized, or as taking various actions, either alone or in concert with other companies, to oppose manipulative trading in the form of illegal naked short selling. The actions have ranged from lawsuits to withdrawals and threatened withdrawals from the electronic trading system managed by the Depository Trust & Clearing Corp., to withdrawals from toxic financings, to the issuance of dividends or name changes designed to squeeze manipulators, to joining associations or networks or to contacting regulatory authorities to provide documentation of abuses or otherwise complain.
On June 4, the SEC stated “the issues surrounding naked short selling are not germane to the manner in which DTC operates as a depository registered as a clearing agency. Decisions to engage in such transactions are made by parties other than DTC. DTC does not allow its participants to establish short positions resulting from their failure to deliver securities at settlement. While the Commission appreciates commenters' concerns about manipulative activity, those concerns must be addressed by other means."
Nevertheless, short positions do in fact exist due to failures of the electronic settlement system to balance their electronic books, and the SEC has provided shareholders and small companies with no inkling of what the Commission has in mind in “addressing" these concerns “by other means."
However, in mid-September the SEC admitted in a Dow Jones interview that “naked short selling" is a problem, and said its market regulatory division is taking aim at the practice. However, one public company reported that two days later a field office of the SEC asked the public company to “prove naked short selling exists," once more seemingly sending mixed signals to shareholders trapped in the manipulators' vise.
Recently the NASD revealed its plan to stop the practices that have ravaged these public companies and their shareholders - a wrist-slap to perpetrators such as Paragon Capital Markets, which was “censured" and fined $35,000 after the NASD said it had “executed short-sale orders in certain securities and failed to make an affirmative determination prior to executing such transactions." An even smaller fine was subsequently assessed against vFinance for similar allegations.
The complete list of those 106 companies include Advanced Viral Research Corp. (OTCBB: ADVR), AdZone Research, Inc. (OTCBB: ADZR), Amazon Natural Treasures (OTC: ANTD), America's Senior Financial Services (OTCBB: AMSE), American Ammunition, Inc. (OTCBB: AAMI), AngelCiti Entertainment (OTCBB: AGLC), ATSI Communications, Inc. (OTC: ATSC), Federal Agricultural Mortgage / Farmer Mac (NYSE: AGM) Allied Capital (NYSE: ALD), American Motorcycle (OTC: AMCYV), American International Industries (OTCBB: AMIN), Ameri-Dream (OTC: AMDR), Adirondack Pure Springs Mt. Water Co. (OTCBB: APSW), Bluebook International (OTCBB: BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), BIFS Technologies Corporation (OTCBB: BIFT), Biocurex (OTCBB: BOCX). Broadleaf Capital Partners, Inc. (OTCBB: BDLF), Chattem, Inc. (NASDAQ: CHTT), Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), CyberDigital, Inc. (OTCBB: CYBD). Diamond International Group (OTCBB: DMND), Dobson Communications Corp. (NASDAQ: DCEL), Eagle Tech Communications (OTC: EATC), Edgetech Services (OTCBB: EDGH);
Also, Endovasc Ltd. (OTCBB: EVSC), Enviro-Energy Corporation (OTCBB: ENGY), Environmental Products & Technologies (OTC: EPTC), EPIXTAR Corp. (OTCBB: EPXR), eResearchTechnologies, Inc. (NASDAQ: ERES), Flight Safety Technologies (OTCBB: FLST), Freddie Mac (NYSE: FRE), FreeStar Technologies (OTCBB: FSRCE), Geotec Thermal Generators, Inc. (OTCBB: GETC), Genesis Intermedia (OTC: GENI), GeneMax Corp. (OTCBB: GMXX), Global Explorations Inc (OTC: GXXL), Global Path (OTCBB: GBPI), GloTech Industries, Inc. (OTCBB: GTHI), Green Dolphin Systems (OTCBB: GLDS), Group Management (OTCBB: GPMT), Hop-On (OTC: HPON), H-Quotient, Inc., (OTCBB: HQNT), Hyperdynamics Corp. (OTCBB: HYPD), International Biochem (OTCBB: IBCL), Intergold Corp. (OTCBB: IGCO), International Broadcasting Corporation (OTCBB: IBCS), InternetStudios, Inc. (OTCBB: ISTO), ITIS Holdings (OTCBB: ITHH), Investco Corp. (OTCBB: IVCO), Lair Holdings (OTC: LAIR), Lifeline BioTechnologies Inc. (OTC: LBTT), Life Energy & Technology (OTCBB: LETH), MBIA (NYSE: MBI);
Also, MegaMania Interactive (OTC: MNIA), MetaSource Group, Inc. (OTCBB: MTSR), Midastrade.com (OTC: MIDS), Make Your Move (OTCBB: MKMV), Medinah Minerals (OTC: MDMN), MSM Jewelry Corp. (OTC: MSMC), Nanopierce Technologies, Inc. (OTCBB: NPCT), Nutra Pharmaceutical (OTCBB: NPHC), Nutek (OTCBB: NUTK), Navigator Ventures (OTC: NVGV), Orbit E-Commerce, Inc. (OTCBB: OECI), Pitts & Spitts (OTC: PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PACC), PayStar Corporation (OTC: PYST), Petrogen Corp. (OTCBB: PTGC), Pinnacle Business Management (OTC: PCBM), Premier Development & Investment, Inc. (OTCBB: PDVN), PrimeHoldings.com, Inc. (OTC: PRIM), Phlo Corporation (OTCBB: PHLC), Resourcing Solutions (OTC: RESG), Reed Holdings (OTC: RDHC), Rocky Mountain Energy Corp. (OTCBB: RMECE), RTIN Holdings (OTCBB: RTNHE), Saflink Corp. (NASDAQ: SFLK), Safe Travel Care (OTCBB: SFTVV), Sedona Corp. (OTCBB: SDNA);
Also, Sionix Corp. (OTCBB: SINX), Sonoran Energy (OTCBB: SNRN), Starmax Technologies (OTC: SMXIF), Storage Suites America (OTC: SSUA), Suncomm Technologies (OTC: STEH), Sports Resorts International (NASDAQ: SPRI), Technology Logistics (OTC: TLOS), Swiss Medica, Inc. (OTCBB: SWME), Ten Stix, Inc. (OTCBB: TNTI), Tidelands Oil (OTCBB: TIDE), Titan Construction (OTC: TTCS), Trezac Corp. (OTCBB: TRZAV), Universal Express, Inc. (OTCBB: USXP), Valesc Holdings, Inc. (OTCBB: VLSHV), Vega Atlantic (OTCBB: VGAC), Viragen (AMEX: VRA), Viragen International (OTCBB: VGNI), Vista Continental Corporation, (OTCBB: VICC), Viva International (OTCBB: VIVI), Vtex Energy (OTCBB: VXENE) and Wizzard Software (OTCBB: WIZD), WorldTradeShow.com (OTC: WTSW) and Y3K Secure Enterprise Software, Inc. (OTCBB: YTHK).
For up-to-the-minute news, features and links click on www.financialwire.net
For FinancialWire audio clips, click on partner ON24 at www.on24news.com
FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. Additionally, Investrend provides a wide range of forums, independent research and webcasting platforms for shareholder empowerment. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on www.investrend.com/contact.asp
URL: www.financialwire.net
(C) 2003 financialwire.net, Inc. All rights reserved.
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