SARASOTA, Fla., Sept. 23, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Fidelis Energy, Inc. (OTCBB:FDEI), DoubleClick, Inc. (Nasdaq:DCLK), Peregrine Pharmaceuticals, Inc. (Nasdaq:PPHM) and Force Protection, Inc. (OTCBB:FRCP).
Investors may want to swing over and check out oil and gas company Fidelis Energy, Inc. (OTCBB:FDEI). Dedicated to developing North America's energy resources, Fidelis Energy announced after the closing bell Wednesday, "that the natural gas pipeline construction, survey and ultimately the tie-in of the Archer-Whitney #1 gas well at the North Franklin Project has begun. ---- Once tie-in of the well is finished, Fidelis Energy will be cash flow positive and will become a commercial California gas producer ---- the first well is expected to reach or exceed 5,000 mcf per day ---- 5,000 mcf per day at $6.00 per mcf (based on PG&E-Citygate averages) will generate $11 million per year, per each well drilled on the property."
FDEI is currently trading around .75 a share.
On the Nasdaq;
DoubleClick Inc. (Nasdaq:DCLK)
Advertiser and web publisher service provider DoubleClick Inc. disclosed that it has divested its 15 percent stake in AdLink Internet Media AG to United Internet AG for about 7.73 million euros or nearly $9.5 million, on current exchange rates. The company said that on account of its disposal of 3,862,500 shares, the company does not hold any more equity interest in AdLINK. However, the company said that AdLINK will continue to use its Ad Management products and services.
DoubleClick added that it anticipates a non-operating income of nearly $7.4 million, which will have a positive effect on its third quarter and full year GAAP earnings by $0.06 per share.
Shares of DCLK finished Wednesday's trade up .08 at $5.79, on strong volume of 4,694,533 shares.
Peregrine Pharmaceuticals, Inc. (Nasdaq:PPHM)
Biopharmaceutical company Peregrine Pharmaceuticals, Inc., announced Wednesday the submission of its investigational new drug application, i.e. IND, to the FDA, to start the first clinical trial for its novel anti- cancer agent, Tarvacin. The company noted that the Phase I study intends to register up to 28 patients, who have advanced solid tumors that no longer respond to standard cancer treatments, at up to three clinical centers.
Peregrine stated that patient enrollment might effectively begin, following the 30-day FDA review period and the approval of clinical protocol by the participating clinical centers, and added that the aim of the Tarvacin clinical trial is to determine the safety and tolerability of Tarvacin administered intravenously to patients, to characterize the pharmacokinetic profile of Tarvacin and to define the dose limiting toxicities and maximum tolerated dose of Tarvacin.
Shares of PPHM closed Wednesday's session at up .03 at $1.43.
On The OTCBB;
Force Protection, Inc. (OTCBB:FRCP)
Force Protection, Inc., manufacturer and distributor of vehicles that protect and save lives and property, announced Wednesday the official delivery of a series of its top-rated mine and blast protected vehicles to the U.S. Army and the U.S. Marine Corps during its "South Carolina Strikes Back" ceremony on September 10 at its corporate headquarters. The company noted that South Carolina Congressmen Henry Brown and Jim DeMint spoke at the event, lauding Force Protection's vehicles, the Cougar and Buffalo, which protect American troops against landmines, Improvised Explosive Devices, small arms fire and air bursts.
"The Cougar and the Buffalo mean to our troops what the bullet proof vest means to our policemen here in America," said Brown. In comparing them to other vehicles currently used by the military, DeMint described Force Protection's vehicles as "a better idea, a better product that met in this case a national security need."
FRCP closed Wednesday's trade 0.02 higher at $0.195 on volume of 1,423,197 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 Fidelis Energy. (public company). The compensation is eight thousand dollars from a non-affiliated third party Knights Bridge Captial Corp. 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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