eLocity Inc. -- Wednesday's Stock Watch Alert For COHQ, SSPI, SPDE
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> SARASOTA, Fla., June 2, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.: Investors may want to keep an eye on CorpHQ, Inc. (Pink Sheets:COHQ), Speedus Corp. (Nasdaq:SPDE) and Spectrum Signal Processing (Nasdaq:SSPI). For the aggressive trader have a look at CorpHQ, Inc. (Pink Sheets:COHQ). CorpHQ announced on Tuesday after the closing bell that it has assisted its security industry subsidiary, Safeguard Technology International Inc., in closing a second round of equity financing from existing shareholders. The $1 million private placement was valued at $0.25 per share, an increase of 66% over the valuation of the initial round. Safeguard and CorpHQ executives will travel to London in early June to discuss extending the offering to $5 million, said the company. Gregg Davis, Safeguard President said, "We are meeting all of our internal forecasts in terms of revenue growth and our gross margin has exceeded our expectations. Because of this we have reached positive cashflow within 8 months after entering the Southern California market. The funds we have raised will be used to expand our sales force and for local advertising." "Safeguard is beginning to really hit its stride in the market," said Steve Crane, CEO of CorpHQ. "Their rapid growth and strong operating margins have translated into increased per share value which benefits both Safeguard and CorpHQ shareholders." COHQ currently trades at around $.04 a share. Spectrum Signal Processing (Nasdaq:SSPI) (TSX Venture Exchange:SSY), announced Tuesday that its flexComm(TM) SDR-3000 software re-configurable platform has been selected by Lockheed Martin Space Systems for the development of advanced communications systems. The flexComm SDR-3000 configuration for Lockheed Martin combines high performance field programmable gate arrays from Xilinx(TM) and PowerPC(TM) processors from Motorola and IBM for signal processing. SSPI currently trades at around $2.90 a share. Zargis Medical Corp., a majority-owned subsidiary of Speedus Corp. (Nasdaq:SPDE), announced Tuesday it has received U.S. Food and Drug Administration (FDA) clearance to market Zargis Acoustic Cardioscan (Cardioscan), the first and only computer-aided medical device to support physicians in analyzing heart sounds for the identification of suspected murmurs, a potential sign of heart disease. SPDE currently trades at around $3.60 a share. About eLocity Inc: eLocity owns and operates three financial websites for investors. -- Bell2Bell.com, http://www.bell2bell.com/. Bell2Bell features news stories, rumors, the InvestBoard and more. -- PennyPicks.com, http://www.pennypicks.com/. Featuring active message boards for the penny stock trader, rumors and more. -- StockGrid.com, http://www.stockgrid.com/. Visit this site for our daily top stock "GRID Makers". We rank stocks on volume, message board activity, sentiment and trend forecast. Sign up for FREE at any of the sites above. 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 this newsletter service for CorpHQ, Inc.only. The compensation is twenty thousand dollars from a non-affiliated third party Audra Inc. and who may own a position in CorpHQ, Inc. Because the company is receiving 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. The company reserves the right to trade in securities mentioned herein, and may make purchases or sales in such securities featured within our newsletter reports. The information contained in this publication is for informational purposes only, and not to be construed as an offer to sell or solicitation of an offer to buy any security. The company makes no representation or warranty relating to the validity of the facts presented nor does the company represent or warrant that all material facts necessary to make an investment decision are presented above. All statements of opinions, if any, (Our Summary) are those of the company. The company relies exclusively on information gathered from the client, public filings on client, press releases and client's web site. Investors should use the information contained in this publication as a starting point for conducting additional research on the featured client in order to allow the investor to form his or her own opinion regarding the featured clients. Factual statements contained in this publication are made as of the date stated and they are subject to change without notice. The company is not a registered investment adviser, broker or a dealer. Investment in the clients reviewed is speculative and a high-risk and may result in the loss of some or all of any investment made in the client. This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. CONTACT: eLocity Inc. Thomas Clay (941) 544-3498
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CorpHQ Subsidiary Closes Second Round of Financing; Safeguard Technology Raises an Additional $1 Million for Expansion
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Business Editors REDONDO BEACH, Calif.--(BUSINESS WIRE)--COHQ-- CorpHQ, Inc. (OTC:COHQ) announced today that it has assisted its security industry subsidiary, Safeguard Technology International Inc., in closing a second round of equity financing from existing shareholders. The $1 million private placement was valued at $0.25 per share, an increase of 66% over the valuation of the initial round. Safeguard and CorpHQ executives will travel to London in early June to discuss extending the offering to $5 million, said the company. Gregg Davis, Safeguard President said, "We are meeting all of our internal forecasts in terms of revenue growth and our gross margin has exceeded our expectations. Because of this we have reached positive cashflow within 8 months after entering the Southern California market. The funds we have raised will be used to expand our sales force and for local advertising." "Safeguard is beginning to really hit its stride in the market," said Steve Crane, CEO of CorpHQ. "Their rapid growth and strong operating margins have translated into increased per share value which benefits both Safeguard and CorpHQ shareholders." About CorpHQ, Inc. Since the inception of its predecessor company in 1993, CorpHQ, Inc. has evolved from an innovative online marketplace and virtual corporation for small and home-based businesses into a business consulting organization and holding company comprised of established and emerging companies. The CorpHQ companies address vertical market segments in the Consumer Products, Services and Technology industries. For additional information please visit the Company's website at www.corphq.com. About Safeguard Technology: Safeguard Technology International, Inc. aggregates and markets innovative technology-based security solutions. Actively engaged in the commercialization of advanced security platforms for commercial and consumer clients, Safeguard's strategy is to grow both organically and through strategic acquisitions of companies that span the landscape of surveillance, detection and identification. Forward-Looking Statements Any statements made in this press release which are not historical facts contain certain "forward-looking statements," as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release is available at www.corphq.com and http://www.pinksheets.com/quote/quote.jsp?symbol=COHQ. KEYWORD: CALIFORNIA INDUSTRY KEYWORD: BANKING SOURCE: CorpHQ, Inc. CONTACT INFORMATION: CorpHQ, Inc. Steven Glazer, 310-540-8851 ext. 21 glazer@corphq.com
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posted
CorpHQ Liquidity Event Friday July 16, 4:33 pm ET Shares of Portfolio Company Placed to Private Investors
REDONDO BEACH, Calif.--(BUSINESS WIRE)--July 16, 2004--CorpHQ Inc. (OTC:COHQ - News) today announced that it had achieved a liquidity event by divesting a portion of its equity holdings in a portfolio company, Safeguard Technology International, Inc. ADVERTISEMENT
CorpHQ divested an aggregate of 1,000,000 shares of common stock at $0.20 per share to accredited investors in a series of private transactions which closed over the past week. Concurrently with the sale of these shares, CorpHQ made a capital contribution of an additional 1,400,000 shares to Safeguard for no additional consideration. Apart from the $200,000 in gross cash proceeds received, CorpHQ will realize approximately $0.04 per share increase on all Safeguard shares held by it, which will substantially increase its financial performance for the third quarter of 2004.
Management initially made this offer to certain accredited shareholders of Safeguard at a meeting held in London last month. The Company is seeking to sell up to 10,000,000 shares at $0.20 per share to existing Safeguard shareholders in its private placement, and to increase the amount of its capital contribution to up to 14,000,000 shares. If the entire transaction is completed, CorpHQ's equity position in Safeguard would be reduced to approximately 40%.
Safeguard Technology was organized by CorpHQ in late 2001. Through its Moore Protection division, Safeguard provides security services including advanced interactive digital video surveillance to elite class residential customers in the Southern California area. Safeguard is exhibiting rapid growth and recently achieved positive cashflow. The company also plans to roll out a new wireless security service called "Watchdog" to mass market customers during the fourth quarter of 2004. Safeguard management believes this low cost solution will gain market acceptance and help accelerate growth.
The private placement capital contributions of shares were designed to place CorpHQ in an equity position more aligned to its purpose as an incubator of Safeguard. This will also create additional value to the Safeguard shareholders, which derivatively provides more value to CorpHQ and its shareholders.
Steve Crane, CorpHQ's co-founder and CEO said, "Our business model has been validated by these transactions. We started Safeguard from a concept that was brought to us by a veteran security industry professional. We raised startup capital for Safeguard, built it to rapid growth and then positive cashflow. We raised a second round of financing for expansion at increased valuation. Achieving liquidity on our investment while maintaining a close relationship with the company brings the process to full circle. Safeguard is now positioned to expand organically and through acquisitions."
Crane added, "Our business is about creating value for our portfolio companies and their shareholders, and to benefit our shareholders in the process. We are very excited about the prospects for all of our portfolio companies today, and especially proud of Safeguard and its management for their perseverance in bringing the company to the stage where we can now begin to realize an economic benefit from the capital, services and assistance we have been providing it. This is indeed a milestone in the history of both companies, and we look forward to more of the same in the future."
About CorpHQ Inc.
CorpHQ, Inc. has evolved from an innovative online marketplace and virtual corporation for small and home-based businesses into a business consulting organization and holding company comprised of established and emerging companies. The CorpHQ companies address vertical market segments in the Consumer Products, Services and Technology industries. For additional information please visit the Company's website at www.corphq.com.
Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain "forward-looking statements," as such term is defined in the Private Securities Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
-------------------------------------------------------------------------------- Contact: CorpHQ, Inc. Steven Glazer, 310-540-8851, ext. 21 glazer@corphq.com
-------------------------------------------------------------------------------- Source: CorpHQ Inc.
------------------ Due Da Due......But Be Quick About It!!!!!
posted
This could move up some so keep an eye on it.....
COHQ - CORPHQ INC (OTC) Date Open High Low Last Change Volume % Change 07/16/04 0.0700 0.0900 0.0700 0.0900 +0.0200 143000 +28.57%
Composite Indicator Trend Spotter TM Sell
Short Term Indicators 7 Day Average Directional Indicator Buy 10 - 8 Day Moving Average Hilo Channel Buy 20 Day Moving Average vs Price Buy 20 - 50 Day MACD Oscillator Sell 20 Day Bollinger Bands Buy
Short Term Indicators Average: 60% - Buy 20-Day Average Volume - 245205
Medium Term Indicators 40 Day Commodity Channel Index Buy
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