WESTON, Fla., Jan. 27, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this Tuesday morning are: Infinium Labs, Inc. (OTCBB:IFLB), Abaxis Inc. (Nasdaq:ABAX), TASER International Inc. (Nasdaq:TASR) and GTC Biotherapeutics Inc. (Nasdaq:GTCB).
Aggressive investors need to be watching Infinium Labs, Inc. (OTCBB:IFLB) this morning! Yesterday, the company issued a press release announcing that it has received a $15 million financing commitment! The financing, subject to certain conditions, will be provided by SBI-Brightline VI, LLC. Among other conditions, the financing is contingent on the effectiveness of a Registration Statement with the Securities and Exchange Commission covering the resale of the shares.
This could be big news for investors! "This round of financing reflects the outstanding performance by our management team in the relatively short history of our company. We started 14 months ago with a great concept and, with this financing commitment, have set the stage for manufacturing the Phantom Gaming System," said Timothy M. Roberts, the chief executive officer and chairman of Infinium Labs, Inc.
Investors need to watch this company! "The video gaming industry is a $10 billion industry and we believe the management of Infinium is eminently capable of capitalizing on the market opportunity," Roberts stressed. "This financing will provide the necessary resources to fund our strategic plan to launch the fastest gaming system on the market. This round of funding represents a validation of Infinium's strategic vision in this high growth industry and signifies true recognition of Infinium's potential."
"We agreed to invest in Infinium because we believe this management team has the ability to create a cutting-edge video gaming system and capitalize on the growth of the robust market," said Shelly Singhal, Managing Director of SBI USA. The stock closed yesterday at $8.50 a share.
In case you are not familiar with Infinium Labs: The company is an innovative entertainment and interactive game company that has developed and is marketing its flagship product, the Phantom Gaming Service, a leading edge and intuitive gaming and content delivery system designed to be the performance leader in the interactive entertainment industry.
The Phantom Game Service is a next-generation gaming system that supports games on-demand, game rentals, game demos, seamless upgrades and patch management. At launch, the Phantom(tm) is expected to be the fastest, most powerful gaming system on the market and will include a broad selection of pre-loaded games, on-demand games and game rentals.
The Phantom Gaming Service is an always-on broadband device, which will allow gamers a wealth of options, from wireless connectivity to massive multiplayer capabilities, allowing gamers to demo games before purchasing or subscribing.
Stocks showing interesting activity yesterday were: Abaxis Inc. (Nasdaq:ABAX) up 13.8% on 2.4 million shares traded, TASER International Inc. (Nasdaq:TASR) up 12.6% on 1.3 million shares traded and GTC Biotherapeutics Inc. (Nasdaq:GTCB) up 12.2% on 1.1 million shares traded.
Commentary: Trillions continued
"We are just a nation of fixer-uppers and home improvement junkies. A report by the Mortgage Bankers Association is 2003 stated that estimated mortgage refinancing will total $1.95 trillion, and a good part of that will go towards home improvements and repairs. If you feel your home is in need of some updating, the experts suggest you consider the financial implications, resale value, and get professional advice," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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