WESTON, Fla., Jan. 27, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this Tuesday morning are: Infinium Labs, Inc. (OTCBB:IFLB), Genemedicine Inc. (Other OTC:GMED), Viewpoint Corporation (Nasdaq:VWPT) and SeaChange International Inc. (Nasdaq:SEAC).
Aggressive investors need to be watching Infinium Labs, Inc. (OTCBB:IFLB) this morning! Yesterday, the company issued a press release announcing that it has received a $15 million financing commitment! The financing, subject to certain conditions, will be provided by SBI-Brightline VI, LLC. Among other conditions, the financing is contingent on the effectiveness of a Registration Statement with the Securities and Exchange Commission covering the resale of the shares.
This could be big news for investors! "This round of financing reflects the outstanding performance by our management team in the relatively short history of our company. We started 14 months ago with a great concept and, with this financing commitment, have set the stage for manufacturing the Phantom Gaming System," said Timothy M. Roberts, the chief executive officer and chairman of Infinium Labs, Inc.
Investors need to watch this company! "The video gaming industry is a $10 billion industry and we believe the management of Infinium is eminently capable of capitalizing on the market opportunity," Roberts stressed. "This financing will provide the necessary resources to fund our strategic plan to launch the fastest gaming system on the market. This round of funding represents a validation of Infinium's strategic vision in this high growth industry and signifies true recognition of Infinium's potential."
"We agreed to invest in Infinium because we believe this management team has the ability to create a cutting-edge video gaming system and capitalize on the growth of the robust market," said Shelly Singhal, Managing Director of SBI USA. The stock closed yesterday at $8.50 a share.
In case you are not familiar with Infinium Labs: The company is an innovative entertainment and interactive game company that has developed and is marketing its flagship product the Phantom Gaming Service, a leading edge and intuitive gaming and content delivery system designed to be the performance leader in the interactive entertainment industry.
The Phantom Game Service is a next-generation gaming system that supports games on-demand, game rentals, game demos, seamless upgrades and patch management. At launch, the Phantom(tm) is expected to be the fastest, most powerful gaming system on the market and will include a broad selection of pre-loaded games, on-demand games and game rentals.
The Phantom Gaming Service is an always-on broadband device, which will allow gamers a wealth of options, from wireless connectivity to massive multiplayer capabilities, allowing gamers to demo games before purchasing or subscribing.
Stocks showing interesting activity yesterday were: Genemedicine Inc. (Other OTC:GMED) up 40% on 19.3 million shares traded, Viewpoint Corporation (Nasdaq:VWPT) up 32.1% on 10.8 million shares traded and SeaChange International Inc. (Nasdaq:SEAC) up 15.5% on 2.4 million shares traded.
Commentary:
"New Labor Department data showed that the gap in wages between the top 10% of wage earners and the bottom 10% widened in 2003. It was a good year for the top 10%. Fox News must have known that as they were taping the show 'The Simple Life.' Was that not a profile and contrast between those 10% people groups? 'What's a Wal-Mart?'" stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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