WESTON, Fla., March 30, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Wellstone Filters, Inc. (OTCBB:WLSF), Golden Patriot, Corp.(OTCBB:GPTC), Gateway Distributors Ltd. (OTCBB:GWDL) and IPIX Corp. (Nasdaq:IPIX).
Aggressive investors need to keep watching Wellstone Filters Inc (OTCBB:WLSF) this morning as they continue to release good news! Yesterday after the markets closed, the company issued a press release announcing that The Peoples' Republic of China has accepted the patent filing on Wellstone Filter's technology embodied in the US patent which was already issued. According to the press release, the final Chinese patent issuance is only a matter of procedure!
This should be great news to investors! Over 320 million smokers live in China, more than 6 times the number in the United States, making China the biggest cigarette market in the world. Wellstone's compound can be critical in China, where 750,000 million people die from smoking every year, according to the American Medical Association. In China, smoking is largely a male habit, and the World Health organization estimates that about 100 million Chinese males will die from smoking related illnesses at current trends. Chinese smoke 32% of the cigarettes in the world.
The acceptance of the Chinese patent will enable Wellstone to market its patented compound more effectively in China.
The stock closed yesterday at $1.36 a share.
In case you are not familiar with the company: Wellstone Filters has developed and patented a filter that effectively removes carcinogens and other toxins produced when tobacco is smoked -- without removing the compounds responsible for the pleasurable effects of smoking. Wellstone seeks to promote material for cigarette filters that will enable major cigarette manufacturers to provide consumers with an equally enjoyable cigarette with substantially fewer carcinogens.
Stocks showing interesting activity yesterday were: Golden Patriot, Corp.(OTCBB:GPTC) up 8.6% on 1.4 million shares traded, Gateway Distributors Ltd. (OTCBB: GWDL) up 10% on 493.8 million shares traded and IPIX Corp. (Nasdaq:IPIX) up 113.5% on 7.5 million shares traded.
Commentary:
"Information released Monday showed that nationwide; gasoline averaged $1.80 per gallon, a new high. The Organization for Oil Exporting States, OPEC, stated that they are reconsidering quotas for reducing oil production as agreed on in their last meeting. OPEC meets Wednesday in Vienna to consider their options. Oil prices have jumped 14% since their last meeting in January," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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