SARASOTA, Fla., May 18, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Investors may want to keep an eye on Knightsbridge Tankers Limited (Nasdaq:VLCCF). Accessity Corp. (Nasdaq:ACTY) and Injecto-Matic Systems International Inc. (Pink Sheets:IJMS).
Tuesday's Alert:
Injecto-Matic Systems International Inc. (Pink Sheets:IJMS), makers of the patent pending mosquito repellent product "MOSQUITO PROSHIELD(TM)", announced Monday after the closing bell the signing of a deal for the licensing of the rights both manufacturing and retail sales for the SAARC countries defined as India, Pakistan, Sri Lanka, Bhutan, Nepal, Bangladesh and Maldive. This agreement reflects the market potential for a combined population for over 1.4 billion people. RK Global Consultants Inc. was awarded this license based on their industry knowledge of manufacturing and retailing in those areas. This agreement goes into effect immediately and Injecto-Matic Systems International Inc. will receive royalty payments for all units produced and RK will buy the all natural oil repellent in Bulk from Injecto-Matic. IJMS trades at around $.60 a share. Go to, http://www.mosquitoproshield.com/ and have a look at Injecto-Matic Systems International Inc. today.
One Nasdaq stock that saw significant up movement on Monday was Knightsbridge Tankers Limited (Nasdaq:VLCCF). On May 14th, the Company reports net income of $23.4 million and earnings per share of $1.37 for the first quarter of 2004. The average daily time charter equivalents ("TCEs") earned by the Company's five VLCCs was $86,185 compared with $59,688 in the immediately preceding quarter. VLCCF traded heavier than usual volume Monday of 1,300,771 to end at $21.51, up $2.54 (13.39%)
Also on the Nasdaq making waves is Accessity Corp. (Nasdaq:ACTY). The company announced Monday that it has signed a definitive agreement to acquire Pacific Ethanol, Inc., Kinergy Marketing, LLC and Re-Energy, LLC in a stock-for-stock share exchange transaction. Pacific Ethanol and Re-Energy are in the business of developing large-scale ethanol plants in the Western United States where Kinergy Marketing is currently engaged in the business of marketing ethanol. Kinergy Marketing, LLC, Re-Energy, LLC and Pacific Ethanol, Inc. had combined unaudited revenues of approximately $35 million in 2003 and are projecting approximately $80 million for 2004 (based on Q1, 2004 unaudited revenues of nearly $20 million). ACTY saw some heavier than usual volume Monday of 445,570 to end at $3.90, UP $1.10 (39.29%).
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