eLocity Inc.: Thursday's Investor Alert, Stocks to Watch: STTC, OSTK, AVII, MIPS


SARASOTA, Fla., Jan. 20, 2005 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:

Aggressive stock traders and investors, have a look at SoftNet Technology (OTCBB:STTC). SoftNet announced Wednesday that its wholly owned subsidiary WholesaleByUs has a goal to supply the largest and most diversified array of products for sale on the Internet. The Company is making strides toward this goal as they have increased the number of products for sale by more than 5,000 products to almost 30,000. Not staying content with that alone and looking to increase the number and diversity of products offered, they are also in negotiations with numerous suppliers of products both domestically and internationally.

STTC is currently trading at around 20 cents a share.

Overstock.com Inc. (Nasdaq:OSTK)

In an effort to attract to sellers affected by eBay Inc.'s planned fee increase, online discount retailer Overstock.com Inc. announced Wednesday that it will cut its auction site listing fees by an added 52 percent from Feb. 18 through March 18.

OSTK closed Wednesday's regular session at $63.14, on volume of 5.2 million shares.

AVI BioPharma, Inc. (Nasdaq:AVII)

Biopharmaceutical company AVI BioPharma, Inc. announced after the bell Wednesday that it has entered into definitive agreements with several institutional investors for the purchase of 8 million shares of its common stock at $3.00 per share in a direct equity placement for gross proceeds to the company of $24 million. The company said that investors will also receive four year warrants to purchase 1.6 million shares of common stock at an exercise price of $5.00 per share.

AVII closed Wednesday's regular session at $4.14, on volume of 39.6 million shares.

MIPS Technologies, Inc. (Nasdaq:MIPS)

MIPS Technologies, Inc., provider of industry standard processor architectures and cores for digital consumer and business applications, reported financial results for its second fiscal quarter after the bell Wednesday, posting revenue that grew 45 percent compared to the same period a year ago. Total revenue for the quarter was $15.5 million, compared to $10.7 million for the same quarter a year ago. Net income for the quarter was $3.5 million, compared to a net income of $477,000 for the same quarter a year ago. Net income per share on a diluted basis for the second quarter of fiscal 2005 was $0.08 compared to a net income per share of $0.01 for the same quarter a year ago.

MIPS closed Wednesday's regular session at $10.055, on volume of 691,800 shares.

About eLocity Inc: eLocity owns and operates three financial websites for investors.

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-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.

-Bell2Bell.com, http://www.bell2bell.com/. Bell2Bell features news stories, rumors, the InvestBoard and more.

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The newsletter is provided by eLocity Inc., an electronic broadcaster and publisher of this newsletter, is here after referred to as "the company". The company received compensation for this newsletter service for STTC (public company). The compensation is twenty-four hundred dollars from a non-affiliated third party, Equity Alliance. Because the company received 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.

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The company relies exclusively on information gathered on the public company, such as public filings, press releases and its web sites. Investors should use the information contained in this publication as a starting point for conducting additional research on the public company in order to allow the investor to form his or her own opinion regarding the public company. 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.

Investing in the public company that this newsletter is providing service for should be reviewed as 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.


            

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