Wall Street News Alert -- Stocks to Watch on Tuesday! Part 5


WESTON, Fla., Feb. 10, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this Tuesday morning are: Chimera Technology Corp (Other OTC:CNOC), Draxis Health Inc. (Nasdaq:DRAX), SonicWALL Inc. (Nasdaq:SNWL) and La Jolla Pharmaceutical Co. (Nasdaq:LJPC).

Aggressive investors may be looking at Chimera Technology Corp (Other OTC:CNOC) this morning! Yesterday after the markets closed, the company issued a press release announcing that, further to its press release of Jan. 13, in which the company announced private placement financing in the amount of $250,000, the company has secured an additional private placement equity financing in the amount of $500,000!

This could be great news for investors! Furthermore, investors will be very encouraged to know the financing involves the purchase of restricted common stock of Chimera that includes a minimum one-year hold period and restrictions as to maximum dispositions per quarter thereafter.

Proceeds of this financing will go directly toward the rapid expansion plans of the company, including business development and Chimera's aggressive sales and marketing efforts to fully capitalize on the industry's explosive growth. In the company's latest investor bulletin dated Jan. 20, 2004, Chimera reported that UK residents spent more than $US 6.4 billion in online gambling in 2003, while residents of the United States spent more than $US 1.0 billion.

According to the press release, as a result of Britain's Gambling Bill expected to pass into law in 2004, making it easier for companies to run online casinos from the UK, online gambling revenues are expected to increase six fold in the coming years.

Keep your eyes on this company! Chimera President Ken Chua stated, "We are incredibly pleased to announce to shareholders that we have raised $750,000 in equity financing in only four weeks. Private placement investors are putting their money, faith and trust into long-term expectations of Chimera's success. The fact that this private placement provides for restricted stock and disposition greater than one year should serve as a very strong endorsement of our business plan and operations. What more can be said than watch out for Chimera in 2004 as there is nothing stopping our team from reaching its business objectives in the lucrative online gaming industry."

The stock closed yesterday at Sixteen cents a share.

In case you are not familiar with the company, Chimera Technology Corp. is a Nevada-based I-gaming software and e-commerce services company competing in the more than $6 billion annual online gaming marketplace, projected to be more than $10 billion by 2004, according to Computer Almanac Industry. The company is an international developer, licensor, and provider of online gaming products, including online bingo, casino, sports book, and pari-mutuel betting. Chimera Technology Corp. has successfully developed a supreme multiplayer online Internet bingo technology, a second-generation, world-class pari-mutuel sports books wagering platform and a full line of online Internet casino games suite. In addition, the company has developed its state-of-the-art "BIRDS EYE" System, a complete back-office management system that operates the entire e-commerce transactions, gaming Web sites, accounting system and licensees' management/reporting platform that is second to none, giving Chimera an opportunity to establish a leadership position in this enormous market.

Stocks showing interesting activity yesterday were: Draxis Health Inc. (Nasdaq:DRAX) up 9.3% on 1.6 million shares traded, SonicWALL Inc. (Nasdaq:SNWL) up 8.1% on 5.2 million shares traded and La Jolla Pharmaceutical Co. (Nasdaq:LJPC) up 4.2% on 741,800 shares traded.

Commentary:

"Earnings reports due out this week; Coca Cola on Wednesday and Dell on Thursday. In general, companies fourth-quarter results so far have been better that expected, this according to Thompson Financial, and analysts have raised earnings forecasts for the first quarter of 2004," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.

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