SARASOTA, Fla., May 19, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Investors may want to keep an eye on CTI Industries Corporation (Nasdaq:CTIB), American Fire Retardant Corp. (OTCBB:AFRT) and UgoMedia Interactive Corp (Pink Sheets:UGMI).
Wednesday's Alert:
UgoMedia Interactive Corp (Pink Sheets:UGMI) (name change to Sciax Corporation pending) reported Tuesday that the company has delivered several C4d under-door viewer modules to law enforcement agencies. The C4d is a component of the Sciax Wolf Pack tactical remote viewing system that provides users with a high resolution imaging tool to covertly view areas behind doors while maintaining a position of cover or concealment. Sciax is an emerging leader in defense imaging systems for law enforcement and military personnel engaged in counter-terrorism and other special security operations. UGMI trades at around .07 a share. Go to http://www.sciax.com and have a look at Sciax Corp. today.
On the Nasdaq, CTI Industries Corporation (Nasdaq:CTIB), a manufacturer and marketer of metalized balloons, latex balloons, novelty items and printed and laminated films, on May 17th released financial results for its first quarter ending March 31, 2004. For the quarter, net sales were $10,893,984, an increase of 7.2% over 2003 first quarter revenues of $10,162,495. The Company realized net income of $371,901 for the quarter, compared to a loss for the first quarter of 2003 of $(689,788). CTIB saw some heavier than usual volume Tuesday of 909,882 to end at $3.79, UP $1.73 (83.98%).
American Fire Retardant Corp. (OTCBB:AFRT) announced Monday that AFRC and their American Safety Products division are in negotiations with PolyBrite International, a Goeken Group Company, and Westinghouse Lighting Corporation, who approached the company with a development and branding agreement early last month. AFRT traded heavier than usual volume Tuesday of 307,500,542 to end at $.0143, UP 0.011 (333.33%)
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