SARASOTA, Fla., Jan. 19, 2005 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.: MEM Financial Solutions, Inc. (Pink Sheets:MMFS), Blockbuster Inc. (NYSE:BBI), Hollywood Entertainment Corp. (Nasdaq:HLYW), Movie Gallery, Inc. (Nasdaq:MOVI)
Aggressive stock traders and investors, have a look at MEM Financial Solutions, Inc. (Pink Sheets:MMFS), a licensed Mortgage Broker in New York and in Florida, with concerted efforts being made to obtain licensing in every state in the union by year-end 2005. Tuesday after the closing bell the company issued a press release announcing that the due diligence process on pending acquisition of Integrity Research, Inc. is moving ahead of schedule. The company said that it believes that the acquisition of Integrity Research, Inc. will be completed no later than February 28, 2005, and once completed, there will be additions to the board of directors of MEM Financial Solutions, Inc.
Integrity Research, founded in Feb. 2003, is an Authorized Title Agent for Chicago Title Insurance Company. During the first year of business Integrity received 502 orders to be processed totaling $56,299,300.00. During the second year of business 667 orders were processed totaling $74,804,050.00. Integrity Research also does settlement closings for approximately 35 lending institutions and other title agencies.
MEM Financial Solutions, Inc. (Pink Sheets:MMFS), founded in 1999, has produced double digit growth annually since its inception. The company said that revenues are expected to exceed $75 Million for 2004, up from $42 million reported last year. MEM also said that, due to the booming housing market, it also anticipates a 12%-15% compounded yearly growth that can be furthered by the rapid expansion currently planned, including pursuing new acquisitions of Title abstract companies, settlement agencies, mortgage brokerages, and federally chartered banks.
MMFS closed Tuesday at $1.10, up 5 cents, or 4.76 percent.
Other stocks of interest:
Blockbuster Inc. (NYSE:BBI), Hollywood Entertainment Corp. (Nasdaq:HLYW), Movie Gallery, Inc. (Nasdaq:MOVI)
In-home movie and game entertainment, Blockbuster Inc. announced Tuesday that it remains committed to pursuing an acquisition of Hollywood Entertainment Corp. (Nasdaq:HLYW), in spite of the recent announcement of the entry of definitive merger deal by Hollywood and Movie Gallery, Inc. (Nasdaq:MOVI). Blockbuster said that in light of various factors, it is evaluating the price that it would be willing to offer for Hollywood, including the termination fee to Movie Gallery that is included in the merger agreement. Blockbuster also said that it has received a request for additional information from the Federal Trade Commission under the Hart-Scott-Rodino Regulatory Improvements Act regarding its proposed acquisition of Hollywood.
BBI closed Tuesday's regular trading session at $9.65 on volume of 3.17 million shares. HLYW closed Tuesday's regular trading session at $14.35 on volume of 574,177 shares, while MOVI finished the day at $20.47 on volume of 353,164 shares.
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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 MMFS. (Public Company). The compensation is 40,000 free trading shares of MMFS from a non-affiliated third party, Investor Response LLC. 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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