SARASOTA, Fla., April 7, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Investors may want to keep Onyx(R) Software Corp. (Nasdaq:ONXS) on their radar screens. The company announced that they have acquired business process management (BPM) technology from Visuale, Inc. of Los Gatos, CA in an asset acquisition with a guaranteed purchase price of $4.0 million. Consideration includes an initial payment of $400,000 in cash and Onyx Software common stock valued at $1.6 million in the form of 504,891 shares. Shares of ONXS are currently at $4.29, UP $0.99 (30.00%) on heavier than usual volume of 2,019,964 compared to its daily average volume 45,000.
Also making ground is Viisage (Nasdaq:VISG). The company announced on April 2 that that it has been selected by the United States Department of Defense (DoD) to support the production of secure, smart credentials as part of the agency's Common Access Card (CAC) program. When closed, the estimated total order from the DoD is expected to be in the range of $6 to $10 million. VISG is currently at $11.75, UP $1.81 (18.21%) on heavier than normal volume of 6,650,393.
Wednesday's Stock Watch is for:
Oxford Ventures Inc. (OTCBB:OXFV). On Monday, Oxford announced that Patrick Baumgart has joined the company's Xtreme Games ("XG") Inc. subsidiary as director of operations, effective April 1, 2004. The board of directors' decision to create and fill this new position is a natural step of maturation for the Arizona-based holding company. Baumgart will be responsible for overseeing the XG Racecar production. Baumgart's software development and automotive expertise has given him the opportunity to create NASCAR(TM) and Indy car virtual reality racing simulators for Al Unser Sr.'s Children's Discovery Center and Racing Museum.
"We are extremely fortunate to have someone of Patrick Baumgart's expertise join our organization," commented Daniel Leonard, Oxford's CEO. "Additionally, his knowledge of, and contacts throughout professional racing will lend credence to our XG mantra of offering the best racecar experience available to the Sports Grille patron."
Xtreme Games, a wholly owned subsidiary of Oxford Ventures Inc., is a virtual reality game company whose flagship product is a racecar simulator. The Racing Simulator is comprised of a full-size racecar body and computer system that serves up video, sound and specific racing footage to which the player/driver must respond. As drivers brake and steer, those commands are reflected in force feedback in the steering wheel and movements of the car itself. A hydraulic system moves the car in a full range of motion to create a racing experience that accurately reflects what it is like to actually drive in a stockcar race. Xtreme Games Racing League(TM) is a trademark of Oxford Ventures Inc.
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The newsletter is provided by eLocity Inc., hereafter referred to as "the company," an electronic broadcaster and publisher of this newsletter. The company received compensation for this newsletter service for Oxford Ventures Inc. The compensation is twenty five thousand free trading shares from a non-affiliated third party through Investor Response LLC., and earlier received five thousand five hundred and thirty five shares in restricted form from a non-affiliated third party through Investor Response LLC. As of this date the company still retains all shares received. Because the company is receiving compensation for its services, there is an inherent conflict of interest in the company statements and opinions and such statements and opinions cannot be considered independent.
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