DALLAS, July 8, 2004 (PRIMEZONE) -- Airbee Wireless (Pink Sheets:ABEW) remains at its most attractive price level in nearly three months, according to MicroTech Trader, a leading source of news and information on small cap technology companies. ABEW closed just below $0.32 a share Wednesday. At this price, MicroTech Trader believes it should attract many small cap investors, given the stock's proven ability to rise above $0.60 a share. MicroTech Trader's other "stocks to watch" in the wireless space are MobilePro (OTCBB:MOBL); P-Com (OTCBB:PCOM); and this week, we've added Fortune Diversified Industries (OTCBB:FDVI).
MobilePro has announced the close of two acquisitions in the past two weeks, bringing the company to $9 million in annualized revenue. It also has announced acquisitions that would produce approximately $37 million in annual revenue for the company if the transactions all close. MOBL shares have traded between $0.15 and $0.18 over the past few weeks, but MicroTech Trader believes the company's strong recent news could lead to increased interest in the stock.
Fortune, a well-diversified company whose one of three major divisions is wireless infrastructure, recently upgraded its year-end forecast for both revenue and earnings significantly. The company's revenue projections for the year ending August 31, 2004, were raised from $42 million to $65 million, while earnings projections tripled from one cent per share to three cents per share for the same period. FDVI shares closed at $0.90 yesterday; their 52-week high is $1.70.
Shares of P-Com, meanwhile, closed Wednesday at $0.0375, but have risen above $0.046 twice in just the past five days of trading, and may be worth a look at their current price level. The company recently announced that it has raised approximately $2.3 million in equity based financing through a special offer made to existing holders of P-Com common stock purchase warrants. Over the past two years, the company has executed a comprehensive financial restructuring that eliminated a substantial portion of its debt and cut operating expenses.
Airbee is a leading developer of intelligent software for short-range wireless communications. The company recently announced the opening of a research and development facility in Chennai, India, in anticipation of increased product demand. The company's technology facilitates both machine-to-machine and people-to-machine voice and data connections -- at a range significantly greater than the current Bluetooth standard. MicroTech Trader continues to rate ABEW a "Strong Buy" in the wireless space and believes its commitment to product development will point to favorable future news.
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