WESTON, Fla., March 17, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: 5G Wireless Communications, Inc. (OTCBB:FGWC), Service Corporation International (NYSE:SRV), 4 Kids Entertainment Inc. (NYSE:KDE) and O2Micro International Ltd. (Nasdaq:OIIM).
Aggressive investors will want to watch 5G Wireless Communications, Inc. (OTCBB:FGWC) this morning! Yesterday after the markets closed, the company issued a press release announcing that it has completed the sale of $400,000 of restricted common stock to private investors! Sales under this offering began in November 2003 and the last tranche of investment was received on February 18, 2004
This could be good news! According to the press release, the proceeds have been and will be used to help fund the Company's expansion through inventory purchases and key personnel hires, so that it can capitalize on growing market acceptance for its wireless broadband communications products.
Stated Jerry Dix, 5G Wireless CEO & Chairman, "The future and growth of 5G Wireless will be built on the quality of its products and the strength and support of its partners. We welcome the opportunity presented by this investment and are delighted that this transaction has been accomplished on terms favorable to the company." The Company hopes to raise additional financing in the near future to meet its continuing cash needs. Keep your eyes on this company!
The stock closed yesterday at forty-two cents a share.
In case you are not familiar with the company: 5G Wireless Communications, Inc. (www.5gwireless.com), located in Marina del Rey, CA, develops and sells wireless broadband solutions. 5G Wireless customers receive dependable, high-speed Internet access at significantly lower acquisition and implementation costs than can be provided by most major competitors. 5G Wireless' products are distinguished by their exceptional data rate/range, number of concurrent users, line-of-sight capabilities and a unique security protocol. These features are particularly significant through 5G Wireless' use of IEEE 802.11b enhancements for "last mile" roaming and point-to-multi-point networks.
Stocks showing interesting activity yesterday were: Service Corporation International (NYSE:SRV) up 3.2% on 4.3 million shares traded, 4 Kids Entertainment Inc. (NYSE:KDE) down 3.9% on 777,400 shares traded and O2Micro International Ltd (Nasdaq:OIIM) down .13% on 270,400 shares traded.
Commentary: The Federal Reserve
"Chairman Greenspan and the Federal Reserve, having their usual 6-week pow-wow meeting yesterday, left the rates at 1%, a 45-year low. He also implied that this rate had a 'longevity' factor. Since the economy, according to experts, is having a slow recovery, and the job market an even slower recovery, the news came as no surprise," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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