WESTON, Fla., Aug. 31, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Fonefriend Inc. (OTCBB:FFRD), Ballard Power Systems (Nasdaq:BLDP), 8x8 Incorporated (Nasdaq:EGHT) and Endwave Corp. (Nasdaq:ENWV).
Aggressive investors and traders will be watching FoneFriend Inc. (OTCBB:FFRD) this morning! Yesterday after the markets closed, the company issued a press release announcing that the company generated revenues slightly in excess of $1 million from this first month of operations!
This is big news for investors! The company has a new subscriber base of 60,000 VoIP customers. FoneFriend Chairman, Gary Rasmussen, commented "We see VoIP as a very real alternative to traditional telco service for people who want to save a lot of money on their monthly phone bills. We plan to aggressively build our subscriber base over the coming months, with our attractive low cost customer value proposition of unlimited calling for just $15 a month, and to become a dominant global player in the VoIP marketplace."
Investors watch this one! The company contracts out to InfiniCom Networks for the network infrastructure, billing system, and customer support operations. Subscriber satisfaction with the service is evidenced by the fact that during the July operational cycle, over 99.5% of customers continued with the service and subscriber loss was only 288 customers for the 31 day period. Under the customer acquisition agreement with InfiniCom, FoneFriend automatically receives 288 replacement paying subscribers from InfiniCom.
The stock closed yesterday between Six and Seven cents a share.
In case you are not familiar with the company: FoneFriend is an emerging business in the fast growing VoIP industry. FoneFriend provides its customers with unlimited monthly calls within the continental United States, Canada, most of Europe and selected countries in Asia for a flat monthly fee of just $15. Last month the company announced the acquisitions of 60,000 subscribers each paying $15 a month for VoIP telephony service, giving them a revenue base of $10.8 million per annum. The company's web site is http://www.fonefriend.biz.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Ballard Power Systems (Nasdaq:BLDP) up 11% on 3.4 million shares traded, 8x8, Inc. (Nasdaq:EGHT) up 8.2% on 1.7 million shares traded and Endwave Corporation (Nasdaq:ENWV) up 9.1% on 724,049 shares traded.
Commentary:
"U.S. oil prices hit their lowest in more than a month on Monday on continued profit-taking as producer group OPEC sought to increase its tight spare capacity and the U.S. summer driving season approached its end. U.S. light crude settled down 90 cents to $42.28 a barrel after falling to $41.30 a barrel midday, the lowest level since July 26. Oil has dropped more than $7 from the record highs near $50 a barrel earlier in the month as hedge funds, responsible for part of the recent price surge, take profits," stated Mario Cardenas in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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This profile is not without bias, and is a paid release. WSCF has been compensated for dissemination of company information on behalf of one or more of the companies mentioned in this release. WSCF has been compensated Fourteen Thousand Dollars for coverage of FoneFriend Inc. (OTCBB:FFRD), by the company, for services provided including dissemination of company information in this release. WSCF holds no shares of the stock. WSCF may receive shares for extension of its services. Any shares will be disclosed at such time that WSCF is aware of a clients desire to extend the original services. WSCF may have received shares of a company profiled in this release prior to the dissemination of the information in this release. WSCF may immediately sell some or any shares in a profiled company held by WSCF and may have previously sold shares in a profiled company held by WSCF. WSCF's services for a company may cause the company's stock price to increase, in which event WSCF would make a profit when it sells its stock in a company. In addition, WSCF's selling of a company's stock may have a negative effect on the market price of the stock. Market commentary provided by Mario Cardenas.
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