SARASOTA, Fla., July 29, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Investors may want to keep an eye on Rincon Resources (OTCBB:RIRI), AVANT Immunotherapeutics, Inc. (Nasdaq:AVAN) and Brightpoint Inc. (Nasdaq:CELL).
Thursday's Alert:
Rincon Resources (OTCBB:RIRI), a gold exploration and development company, announced on Wednesday after the closing bell -- "details the 'Tudor Gold Property' that the Company has recently acquired. The announcement was made Wednesday by Mr. Graeme F. Scott, President of Rincon Resources. The Tudor Property is located in Tudor and Grimsthorpe Townships in the Madoc-Bancroft region of eastern Ontario, Canada. The property consists of 22 contiguous unpatented mining claims containing 60 units covering approximately 2,965 acres of land. The Tudor Property is crossed by a series of rhyolite tuffaceous units, which extend over 20 kilometres (12.4 miles) through Tudor, Grimsthorpe and Cashel Townships. On the property, gold mineralization occurs in a rhyolite unit which extends across the entire length of the property and averages 1 to 125 metres (410 ft) wide."
RIRI trades at around .25 a share.
AVANT Immunotherapeutics, Inc. (Nasdaq:AVAN) announced Wednesday that "it is demanding an immediate delisting from the Berlin-Bremen Stock Exchange in an attempt to prevent trading practices that are banned in the United States. AVANT recently learned that it was one of more than 200 U.S. companies added to the Berlin-Bremen Stock Exchange without its knowledge, consent or authorization."
Shares of AVAN closed up for Wednesday's trading session at $1.87.
Brightpoint Inc. (Nasdaq:CELL) saw its shares close up $1.94 (16.17%) on Wednesday to $13.94 a share. Brightpoint announced on Tuesday that second-quarter profit fell slightly on higher costs, despite solid revenue on strong demand for advanced phones. It posted a profit of $4.29 million, or 22 cents a share compared with $4.32 million, or 23 cents a share a year earlier. Revenue rose to $463.8 million from $371.9 million a year ago.
About eLocity Inc.: eLocity owns and operates three financial websites for investors.
-Bell2Bell.com, http://www.bell2bell.com/. Bell2Bell features news stories, rumors, the InvestBoard and more.
-PennyPicks.com, http://www.pennypicks.com/. Featuring active message boards for the penny stock trader, rumors and more.
-StockGrid.com, http://www.stockgrid.com/. Visit this site for our daily top stock "GRID Makers". We rank stocks on volume, message board activity, sentiment and trend forecast.
Sign up for FREE at any of the sites above.
The newsletter is provided by eLocity Inc., an electronic broadcaster and publisher of this newsletter, here after referred to as "the company". The company is to receive compensation for this newsletter service for Rincon Resources only. The compensation is one thousand dollars from a non-affiliated third party, Alex Consulting Inc. Because the company is receiving compensation for its services, there is an inherent conflict of interest in the company statements and opinions and such statements and opinions cannot be considered independent.
The company reserves the right to trade in securities mentioned herein, and may make purchases or sales in such securities featured within our newsletter reports. The information contained in this publication is for informational purposes only, and not to be construed as an offer to sell or solicitation of an offer to buy any security. The company makes no representation or warranty relating to the validity of the facts presented nor does the company represent or warrant that all material facts necessary to make an investment decision are presented above. All statements of opinions, if any, (Our Summary) are those of the company.
The company relies exclusively on information gathered from the client, public filings on client, press releases and client's web site. Investors should use the information contained in this publication as a starting point for conducting additional research on the featured client in order to allow the investor to form his or her own opinion regarding the featured clients. Factual statements contained in this publication are made as of the date stated and they are subject to change without notice. The company is not a registered investment adviser, broker or a dealer.
Investment in the clients reviewed is speculative and a high-risk and may result in the loss of some or all of any investment made in the client. This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended.
The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements.