SARASOTA, Fla., June 2, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Investors may want to keep an eye on CorpHQ, Inc. (Pink Sheets:COHQ), Speedus Corp. (Nasdaq:SPDE) and Spectrum Signal Processing (Nasdaq:SSPI).
For the aggressive trader have a look at CorpHQ, Inc. (Pink Sheets:COHQ). CorpHQ announced on Tuesday after the closing bell that it has assisted its security industry subsidiary, Safeguard Technology International Inc., in closing a second round of equity financing from existing shareholders. The $1 million private placement was valued at $0.25 per share, an increase of 66% over the valuation of the initial round. Safeguard and CorpHQ executives will travel to London in early June to discuss extending the offering to $5 million, said the company. Gregg Davis, Safeguard President said, "We are meeting all of our internal forecasts in terms of revenue growth and our gross margin has exceeded our expectations. Because of this we have reached positive cashflow within 8 months after entering the Southern California market. The funds we have raised will be used to expand our sales force and for local advertising." "Safeguard is beginning to really hit its stride in the market," said Steve Crane, CEO of CorpHQ. "Their rapid growth and strong operating margins have translated into increased per share value which benefits both Safeguard and CorpHQ shareholders." COHQ currently trades at around $.04 a share.
Spectrum Signal Processing (Nasdaq:SSPI) (TSX Venture Exchange:SSY), announced Tuesday that its flexComm(TM) SDR-3000 software re-configurable platform has been selected by Lockheed Martin Space Systems for the development of advanced communications systems. The flexComm SDR-3000 configuration for Lockheed Martin combines high performance field programmable gate arrays from Xilinx(TM) and PowerPC(TM) processors from Motorola and IBM for signal processing. SSPI currently trades at around $2.90 a share.
Zargis Medical Corp., a majority-owned subsidiary of Speedus Corp. (Nasdaq:SPDE), announced Tuesday it has received U.S. Food and Drug Administration (FDA) clearance to market Zargis Acoustic Cardioscan (Cardioscan), the first and only computer-aided medical device to support physicians in analyzing heart sounds for the identification of suspected murmurs, a potential sign of heart disease. SPDE currently trades at around $3.60 a share.
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