WESTON, Fla., April 22, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this Thursday morning are: Universal Detection Technology (OTCBB:UDTT), Duraswitch Industries (Nasdaq:DSWT), Sprint PCS Group (NYSE:PCS) and Kent Financial Services (Nasdaq:KENT).
Aggressive investors will want to check out Universal Detection Technology (OTCBB:UDTT) this morning! Yesterday after the markets closed, the company issued a press release announcing that it has received a $25,000 grant from Rutgers University's Center for Advanced Infrastructure and Transportation (CAIT) to implement phase one of their previously-announced collaboration agreement!
This could be huge news for investors! CAIT and UDTT will study the feasibility of using UDTT 's Anthrax detection technology in transportation and medical related facilities. CAIT's decision to choose UDTT as its technology partner comes on the heels of the recent heightened terror alerts in the nation, as well as the lack of preparedness of the country's transportation infrastructure to a potential anthrax attack.
"We are excited to be moving into the first phase of implementation with CAIT. I am confident that our Bacterial Spore Detector will deliver the results that CAIT is demanding before moving into the second phase," said the Company's President and CEO Jacques Tizabi. "Successfully moving through phase one into phase two is further boosted by the commitment CAIT has shown throughout the recent months and we could not be more pleased with our collaboration efforts with CAIT."
The grant will be used in identifying a site for CAIT to integrate its emergency and evacuation protocol program to a facility's existing emergency response system, as well as preparing the building to be outfitted with a UDT Bacterial Spore Detector. CAIT is currently integrating an evacuation protocol program into the site's current emergency response system, as well as preparing the site to be outfitted with a UDTT Anthrax Detector.
Keep your eyes on this company! "When phase one is fully implemented, CAIT will apply for a second round of government grants that will be used to fully integrate its custom designed system and equip the facility with a 'total solution' response to a bioterror event, ranging from detection, to notification of first responders via integrated alarm, to evacuation of the facility," said Dr. Ali Maher, principal investigator at CAIT. "Universal Detection Technology has proven the reliability of the Bacterial Spore Detector and we are certain that we can demonstrate this reliability through each phase of test."
The stock closed yesterday at eighty cents a share.
In case you are not familiar with the companies: Universal Detection Technology, which recently had its ticker symbol changed from UDET to UDTT to accommodate a recent name change, was founded in 1973 and is a developer of monitoring technologies, including bio-terrorism detection devices. UDTT's technology, together with third party technologies and devices, position the Company to capitalize on growth and value opportunities. Universal Detection Technology recently entered into an agreement with NASA's Jet Propulsion Laboratory (JPL) to mutually develop a commercially available anthrax "smoke" detector, which will combine the JPL spore detection technology with UDTT's aerosol capture device. The partnership with UDTT was accomplished through the Technology Affiliates Program, one of many Commercial Technology Programs aimed at transferring JPL's knowledge to the private sector for broad public use.
Rutgers University's Center for Advanced Infrastructure and Transportation (CAIT), established in 1998, is a part of the national university transportation centers program funded by the U.S. Department of Transportation (USDOT). The mission of the center is to help upkeep and maintain the nation's aging transportation infrastructure through research, education and workforce training.
Stocks showing interesting activity yesterday were: Duraswitch Industries (Nasdaq:DSWT) down 2% on 131,600 shares traded, Sprint PCS Group (NYSE:PCS) down .63% on 12.1 million shares traded and Kent Financial Services (Nasdaq:KENT) up 36.6% on 479,800 shares traded.
Commentary:
"Federal Reserve Chairman Alan Greenspan finished his 2 day meeting with Congress Wednesday. His comments to the banking committee included banks 'managing interest rate exposure; banks being hurt by rising rates; customers need for credit and financial services; and banks adjusting balance sheets to meet higher interest rates.' Analysts will be dissecting these words and others for several days. The FOMC will meet in two weeks," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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