WESTON, Fla., Feb. 17, 2005 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: LitFunding Corp. (OTCBB:LFDG), Itron, Inc. (Nasdaq:ITRI), JPMorgan Chase & Co. (NYSE:JPM) and Google Inc. (Nasdaq:GOOG).
Aggressive investors and traders may like what they are hearing from LitFunding Corp. (OTCBB:LFDG)! Yesterday after the markets closed the company, a holding company specializing in the funding of litigation primarily through plaintiffs' attorneys, issued a press release announcing that it has already achieved certain key financial milestones in the first quarter of 2005.
This could be good news for investors! According to the company's press release, key milestones include:
-- Putting $750,000 in funding on the street
-- Processing $3 million in requested funds for 72 cases
-- $183,125 has been received in principal and fees
-- $248,000 is owed in fees based on $562,500 remaining invested
-- Annual return on investment approaching 50 percent
-- Two Letters of Intent (LOI) of two LLCs for $5 million, with
almost $1 million already put out on the street, with an available
$4 million based on letters of intent
-- 59 cases currently in the pipeline, with funding estimated to
commence next quarter
The company's release states that the company's ability to achieve these milestones, well in advance of their initial projections, signifies their competence and confidence in executing their business strategy.
Investors continue to watch this company's progress! "I am very pleased with our progress thus far," said Morton Reed, PhD, the Company's Chief Executive Officer. "Management is confident in our strategy moving forward. We believe that our unique approach to the billion-dollar litigation-funding marketplace is both practical and profitable. Since relocating to Las Vegas, we have enjoyed an unprecedented amount of success, and are beginning to garner attention from brokers and attorneys across the country. We think we have a bright future, and management is committed to building shareholder value through establishing an expansive network of industry professionals and high-profile cases."
For more in-depth coverage of LitFunding, visit http://www.backissuesofnewsalerts.us/LFDG0216.html
Prior to yesterday's press release, the stock closed yesterday at Seventy-One cents a share.
In case you are not familiar with the company: LFC through it's wholly owned subsidiary LitFunding USA remains one of the nations largest public company's specializing in the funding of litigation primarily through plaintiff's attorneys. The Company is in the litigation funding business making advances to plaintiff's attorneys primarily in the areas of personal injury. A fee is earned when the lawsuits so funded are settled or otherwise concluded by a court ruling. At that time both the funds advanced and the fee contractually agreed to are repaid to the company.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Itron, Inc. (Nasdaq:ITRI) up 20.4% on 3.1 million shares traded, JPMorgan Chase & Co. (NYSE:JPM) down 0.5% on 9.5 million shares traded and Google Inc. (Nasdaq:GOOG) up 1.6% on 16.4 million shares traded.
Commentary:
"Fed Chairman Alan Greenspan, speaking before Congress yesterday, reassured members that the economy is going in the right direction, gave some comments regarding interest rates and gave Social Security the thumbs-up as far as privatization. The market's response was less than stellar," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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