SARASOTA, Fla., Oct. 18, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Penn Biotech, Inc. (OTCBB:PBOTF), Loudeye Corp. (Nasdaq:LOUD), Pharmaceutical Partners, Inc. (Nasdaq:APPX) and Penford Corporation (Nasdaq:PENX).
Making progress, investors want to take a look at a little known company called Penn Biotech, Inc. (OTCBB:PBOTF). The potential for a major accomplishment, Penn Biotech announced today that it has signed a Letter of Intent ("LOI") with the People's Republic of China's Ministry of Agriculture. The LOI commits Penn Biotech and the Ministry to engaging in a joint venture to grow seed potatoes.
Penn Biotech stated that initially, 2,000 acres will be planted in 2005 and that upon successful completion of the trial, the Company will expand its acreage incrementally each year to reach a total of 80,000 acres by the year 2010, with an expected yield of approximately ten tons per acre.
Using the Company's revolutionary technology, Penn Biotech plans to meet the increasing demand for the processing market in growing China. The initial planting for the first year of the trial will be 20-30 metric tons of seed potatoes supplied by PBI. The location of the specific farms will be at the sole discretion of the Company.
PBOTF is currently trading at around.23 a share.
On the Nasdaq;
Loudeye Corp. (Nasdaq:LOUD), today announced it will host an audio Webcast with Jeff Cavins, president and chief executive officer, and Larry Madden, executive vice president and chief financial officer, followed by a live question and answer session to discuss its third quarter 2004 financial results. The Webcast will be held live on November 4, 2004 at 2:00 p.m. PT and available from www.loudeye.com. Loudeye a "worldwide leader in business-to-business digital media solutions", LOUD currently trades at around .95 a share.
Pharmaceutical Partners, Inc. (Nasdaq:APPX) announced today "that it has received approval from the U.S. Food and Drug Administration (FDA) for the Abbreviated New Drug Application (ANDA) of Carboplatin for Injection, USP, the lyophilized form of carboplatin and the generic equivalent of Bristol-Myers Squibb Company's Paraplatin(R). Marketing activities for carboplatin have commenced. APP's ANDA for Carboplatin for Injection, the liquid form of the product, is still undergoing review at the FDA."
APPX currently trades at around $25 a share.
Penford Corporation (Nasdaq:PENX), today reported "financial results for the fourth quarter and fiscal year 2004. Net income for the year ended August 31, 2004, was $3.7 million, or $0.42 per diluted share, compared to $8.4 million, or $1.03 per diluted share, last year." Penford a global leader in ingredient systems for food and industrial applications, is currently trading at around $16 a share.
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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 newsletter services for Penn Biotech. (Public Company). The compensation is forty thousand dollars from Young Han. 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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-0- eLocity Inc. 941-544-3498 Thomas Clay