WESTON, Fla., June 15, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Media International Concepts, Inc. (Pink Sheets:MEIC), Prime Medical Services (Nasdaq:PMSI), QSound Labs Inc. (Nasdaq:QSND) and InterCept Inc. (Nasdaq:ICPT).
Aggressive investors and traders should take another look at Media International Concepts, Inc. (Pink Sheets:MEIC) this morning! Yesterday after the markets closed, the company issued a press release announcing it has executed a letter of commitment with Spike's Pictures, LLC to provide partial financing resulting in an approximate 8.33% ownership in the feature motion picture "Spike's" starring Christina Applegate and Paul Sorvino!
This could be huge news for investors! The film is being produced by Lisa Schahet of HBO's comedy short "Cloud Nine" and development for John Wells Productions with David Wendell, syndicated TV hit "Blind Date," film short "Elevator Man" and feature film "Smut" as writer/director. The letter of commitment also gives MEIC the right to become the sole investor for the duo's rock horror project "Death Rock," said Michael Marcovsky, CEO of MEIC.
Christina Applegate known for her roles in "Married...with Children" and "Jesse" recently starred as Cameron Diaz's best friend in the film "The Sweetest Thing" (2002) and with Gwyneth Paltrow in "View From the Top" (2003). She is also starring in several major films in 2004. The Dreamworks movie in which she stars with Will Farrell "Anchorman" is set for July 9, 2004 release. This will be followed with her starring roles with Ben Affleck and James Gandolfini in "Surviving Christmas", being released by Dreamworks on November 19, 2004.
Paul Sorvino is best known for his roles in "Goodfellas" (1990) and "Dick Tracy" (1990), as well as "Nixon" (1995) and "The Cooler" (2003).
Other significant supporting talent in "Spike's" include Cathy Moriarty "Raging Bull"-Academy Award Nominee for Best Supporting Actress and "Analyze That," as well as Maxwell Caulfield from "Grease 2," "Empire Records," "The Real Blonde," and "Dynasty."
Keep your eyes on this company! MEIC's interest in "Spike's" based upon the LLC's projections, could generate from $100,000 in profit at the low end with no U.S. theatrical release, to $600,000 in profit at the high-end with a U.S. theatrical release.
The stock closed yesterday at $0.05 a share.
In case you are not familiar with the company: Media International Concepts Inc. acquires and operates advertising, entertainment, educational programming and production companies. MEIC creates synergies by exploiting both traditional and emerging distribution channels. MEIC is being positioned to be on the leading edge of the industry by providing entertainment and information through fixed wireless broadband.
Stocks showing interesting activity yesterday were: Prime Medical Services (Nasdaq:PMSI) up 18% on 709,800 shares traded, QSound Labs Inc. (Nasdaq:QSND) up 9.3% on 631,400 shares traded and InterCept Inc. (Nasdaq:ICPT) up 4.5% on 647,200 shares traded.
Commentary:
"This week will see some economic news; the May consumer-price index, CPI, is due Tuesday. The core CPI, the main measure of inflation, is still below 2%; it could rise again as the economy continues to improve, thus accelerating inflation. If that happens, look for the Federal Reserve to signal warnings regarding interest rates, economist say," stated Sonja Rudd in Wall Street News Alert's daily commentary, continued at: http://www.WallStreetNewsAlert.com.
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