WESTON, Fla., Dec. 20, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Airtrax, Inc. (OTCBB:AITX), Matria Healthcare, Inc. (Nasdaq:MATR), Texas Instruments Incorporated (NYSE:TXN) and Lincare Holdings Inc. (Nasdaq:LNCR).
Aggressive investors and traders need to watch Airtrax, Inc. (OTCBB:AITX) again this morning! Friday after the markets closed, the company, a developer of patented, omni-directional technology with military and commercial applications, issued a press release announcing that it has signed a letter of intent with The Vision Company of Canada, for exclusive Canadian distribution rights of the SIDEWINDER(tm) Omni-Directional Lift Truck.
This could be more huge news for investors! Under the terms of the letter of intent, Airtrax and its sales and marketing consultant, Crossfire Network, agreed to provide sole and exclusive Canadian distribution rights, including all provinces and territories, for its full line of manufactured products to The Vision Company. If the distribution agreement is finalized, The Vision Company will establish a distribution network including dealers, leasing, service centers and direct sales and marketing offices. The parties anticipate that the initial Agreement shall be for a period of five years beginning January 1, 2005, subject to the distribution company meeting predetermined and specific sales performance standards. Sales mentioned in this release are dependent upon the finalization and execution of the distribution agreements between the parties.
Investors should continue to watch this company for more great news! CEO of Airtrax, Peter Amico stated, "We believe that this letter of intent is another significant step towards building our global distribution network and the internationalization of our sales process. This potential partnership will provide Airtrax with immediate access to the Canadian market, which is extremely attractive in terms of its vibrant manufacturing base, its demand for omni-directional lift trucks, and the overall potential buying opportunity for our line of products that the region represents."
Amico concluded, "On the heels of recent orders for the purchase of the SIDEWINDER Omni-Directional Lift Truck, this letter of intent and anticipated future orders will continue to bolster our efforts to gain adoption of our products. This process is well underway and I believe it will continue to accelerate in 2005."
Under the terms of the letter of intent, The Vision Company will purchase 10 units upon signing the agreement to gain exclusive distribution rights in Canada and must also purchase no less than 250 Airtrax units in 2005, to meet the requirements to continue the exclusive distribution arrangement. All terms and sales are subject to finalizing the distribution agreement.
For more in-depth coverage of Airtrax, visit http://216.63.242.254/AITX1219.htm
The stock closed Friday at $1.58 a share.
In case you are not familiar with the companies: A U.S.-based developer of omni-directional technology, Airtrax designs and manufactures omni-directional vehicles. A patented wheel was designed and developed by Airtrax after receiving a technology transfer from the U.S. Navy in the form of a Cooperative Research and Development Agreement.
The SIDEWINDER(tm) Omni-Directional Lift Truck and the MEC-Airtrax Phoenix(tm) aerial work platform (AWP) are the first omni-directional vehicles using omni-directional technology and the patented Airtrax wheel to be commercially produced. Unlike any other lift truck, the SIDEWINDER or the Phoenix AWP can turn 360 degrees in its own footprint, allowing warehouses to utilize 20 to 30% more of existing space. The nearly maintenance-free design also drastically reduces maintenance costs, delivering tremendous cost efficiencies to companies both large and small. The omni-directional wheel is manufactured by The Timken Company under exclusive production rights to Airtrax. For more information and to view a must-see product demonstration, visit http://www.airtrax.com.
The Vision Company is a sales, marketing, and distribution company with offices in Calgary and Cochrane, Alberta. The primary purpose for the Vision Company is to facilitate the Canadian distribution and sales of the innovative products produced by Airtrax Inc. The Vision Company currently has a database of over 250,000 warehouse and distribution facilities in Canada -- all potential purchasers of Airtrax products. The Vision Company is in the process of expanding a dedicated sales force and dealer network for the exclusive intended purpose of selling, marketing, and distributing Airtrax products in Canada.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Matria Healthcare, Inc. (Nasdaq:MATR) up 13.1% on 1.2 million shares traded, Texas Instruments Incorporated (NYSE:TXN) down 2.4% on 20.8 million shares traded and Lincare Holdings Inc. (Nasdaq:LNCR) up 8.8% on 4 million shares traded.
Commentary:
"Cuba has agreed to buy about $125 million in farm goods from U.S. companies attending trade talks in Havana, officials said. The deals, which were agreed on during three days of negotiations that ended Friday, surpassed expectations, Pedro Alvarez, chairman of the Cuban food import company Alimport, said. More than 300 people, primarily producers of American farm goods, attended the meetings, as did several lawmakers," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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