WESTON, Fla., Dec. 13, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Energy Conservation Technologies, Inc. (Pink Sheets:ENYC), Adeza Biomedical Corporation (Nasdaq:ADZA), Ionatron, Inc. (OTCBB:IOTN) and Medicore, Inc. (Nasdaq:MDKI).
Aggressive investors and traders need to focus their attention on Energy Conservation Technologies, Inc. (Pink Sheets:ENYC) this morning! Friday after the markets closed, the company issued a press release announcing that it's initiating commercialization of its HID Electronic Ballast.
This could be good news for investors! The company will be meeting with the National Mexican Power Authority (NMPA) and a well-established ballast manufacturer in Mexico City, Mexico, this week. The trip is a key part of the company's strategy to launch this revolutionary electronic HID ballast technology!
The Mexico City trip is the follow-up to licensing talks held over the past year. The trip's purpose is two-fold. First, Econ will present its new production-ready HID electronic ballast prototype to NMPA and the Mexican manufacturer, which will test and evaluate the ballast. This ballast, substantially smaller, lighter and more energy-efficient than conventional magnetic ballast designs, is designed for the 250-watt high-pressure sodium and metal halide lamps in wide use in Mexico and around the world in streetlight and high ceiling applications. Econ and the manufacturer also expect during the meeting to negotiate and sign a letter of intent outlining a license of the Econ technology for the Mexican market.
Keep your eyes open for future developments! Fazle Quazi, Econ's Chairman and Director of Engineering, said that, "This Mexican trip is a key part of our master strategy to launch this revolutionary electronic HID ballast technology. Once the Mexican license is completed, our next step will be to license the technology to a major lighting manufacturer for U.S. production, following which we will concentrate on European and Asian markets." Mr. Quazi added that, "Based on my decade long and productive relationship with the Mexican ballast manufacturer and the excellent laboratory test results of our electronic HID ballast, both Econ and the manufacturer are confident of signing a letter of intent outlining a licensing deal as a prelude to executing a definitive licensing agreement early next year."
Upon signing of a definitive licensing agreement, Econ would expect to receive a significant technology transfer fee, as well as substantial ongoing production royalties of several million dollars over 2-3 years just from the Mexican market.
The Mexican market for Econ's electronic HID ballasts is large, with over 1,000,000 needed for Mexico City alone. Econ estimates that replacing existing magnetic ballasts for those lights with the new Econ electronic ballasts will save US$52,000,000 in energy costs annually just in Mexico City, in the process saving over 50 million watts of energy every day. Another plus is that lab tests have shown the Econ HID electronic ballast capable of handling the considerable power fluctuations common throughout Mexico, a vital capability for any ballast intended for Mexican installation. Based on energy savings alone, Econ's ballast will pay for itself in less than a year.
For more in-depth coverage of ENYC, visit http://216.63.242.254/ENYC1213.htm
The stock closed Friday over thirty-two cents a share.
In case you are not familiar with the company: Energy Conservation Technologies, Inc. holds a patent for "Control Circuit for power factor corrected electronic ballasts and power supplies," patent No: 6,359,395, granted on March 19, 2002 developed by its founder, Fazle Quazi. The current patent covers power factor corrections and controlling energy into bulbs and power supplies such as: computer servers, copy machines, compact fluorescent lamps, power supplies to the telecom industry, inverters used to convert DC power to AC power (120 Volts), automobiles specialty lighting, solar and wind power generators, and fuel cells.
New patent applications involving the lighting industry are now being drafted after extensive testing. These new designs will revolutionize the HID lighting industry, annually a $2 billion dollar market in the United States and over $10 billion on an international basis. Econ's HID electronic ballasts will be available at costs comparable to magnetic ballasts, reducing ballast weight by a factor of 10 and saving an estimated 35 percent of electrical energy over magnetic ballast usage.
According to the press release, discussions are now in progress with a major lighting manufacturer in Mexico and with a Fortune 500 company regarding licensing our patents and future patent filings.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Adeza Biomedical Corporation (Nasdaq:ADZA) up 23.1% on 5 million shares traded, Ionatron, Inc. (OTCBB:IOTN) up 12.8% on 959,694 shares traded and Medicore, Inc. (Nasdaq:MDKI) up 14.4% on 978,156 shares traded.
Commentary:
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