SARASOTA, Fla., Dec. 28, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.: Wellstone Filters (OTCBB:WLSF); EntreMed, Inc. (Nasdaq:ENMD); Art Technology Group, Inc. (Nasdaq:ARTG) and Infinium Labs (OTCBB:IFLB).
Investors, take a look at Wellstone Filters (OTCBB:WLSF), a company that develops and patents filter material that removes certain carcinogens and other toxins produced when tobacco is smoked, without removing the compounds thought to be associated with the pleasurable effects of smoking. The company announced after the bell Monday that it has entered into a distribution agreement with GesichTaube to distribute up to 15,000 cartons per month of the Wellstone line of cigarettes in Ukraine.
GesichtTaube (GT) is a joint German-Ukrainian venture that supplies restaurants, convenience stores and kiosks in Ukraine with imported spirits and cigarettes. GT is headquartered in Kiev. Wellstone initially plans to import its cigarettes into Ukraine, but intends to manufacture in Ukraine if possible.
According to the Financial Times, Ukraine consumers smoke 80 billion cigarettes per year, more than the world per capita average. At present, British American Tobacco, Philip Morris and RJ Reynolds have built modern joint venture manufacturing operations in Ukraine (Wellstone is not affiliated with any of the foregoing.). Wellstone plans to utilize existing excess manufacturing capacity in Ukraine, and to compete on price and on taste.
Wellstone is interested in entering into similar distribution or licensing agreements with other companies in Eastern Europe, in Western Europe and in the America. Wellstone's goal is to become the largest company in the growing discount cigarette market. Wellstone believes its patented filter formulation will enhance the flavor of many of the discount tobacco brands.
Wellstone believes that its patented filter formulation removes tars and certain carcinogens, while providing better taste. However, any claim as to the benefit of any Wellstone cigarette to be sold will be made within the parameters prescribed by the Federal Trade Commission. Wellstone emphasizes that NO cigarette is safe. This corporate communication by Wellstone is not intended to induce any person to purchase Wellstone tobacco products.
WLSF is currently trading at around 1.27 cents a share.
Other Stocks of interest Monday;
EntreMed, Inc. (Nasdaq:ENMD)
Clinical-stage pharmaceutical company, EntreMed, Inc., announced Monday that it has signed definitive agreements to raise $14 million through the issuance of common stock and warrants to institutional investors. EntreMed said that it sold about 5.5 million shares at $2.55 per share, and added the transaction included the issuance of five-year warrants equivalent to 20% of the total number of common shares issued at a 15% premium to the market price of common shares.
ENMD closed Monday's regular trading at $3.03, down $0.219, on volume of 1.44 million shares.
Art Technology Group, Inc. (Nasdaq:ARTG)
Software solutions provider Art Technology Group announced Monday the completion of its initial integration with Primus Knowledge Solutions, Inc. Art Technology Group also updated its guidance for 2005, now expecting 2005 revenues to be in the range of $90-$100 million, and anticipates profitability and cash flow to be positive for the period.
ARTG closed Monday's regular trading at $1.54, up $0.461 or 42.72%, on volume of 23.8 million shares.
Infinium Labs (OTCBB:IFLB)
On-demand game developer Infinium Labs announced Monday that it will demonstrate its flagship Phantom Game Service in the NVIDIA booth during the Consumer Electronics Show Jan. 6th through the 9th, 2005, in Las Vegas. Infinium said it will incorporate NVIDIA's state-of-the-art GeForce line of graphics processing units and nForce platform processors in its Phantom Game Service to deliver top quality graphics, cinematic gaming, and media and communication processing performance to players of the on-demand game service, set for launch in 2005.
IFLB closed Monday at $1.265, up $0.525 or 70.95%, on volume of 9.8 million shares.
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