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Dardadog
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A.D.A.M., Inc., incorporated in 1990, specializes in the creation and delivery of interactive health content that can be used by healthcare consumers, those with low health literacy and those who play an ongoing role in their personal health management. The Company's products can be used for learning about general health concerns, specific diseases and treatments, surgical procedures, drug information, specialty health subjects, such as women's health and children's health, nutrition, alternative medicine and more.

The Company sells its health content products through annual licensing agreements to healthcare and health-related organizations including hospitals, managed care organizations, pharmaceutical companies, disease management vendors, health-oriented Internet Websites, healthcare technology companies and employers. The Company's products can be incorporated into a customer's Website, imbedded in healthcare applications, such as an electronic medical record or disease management applications contained in a printed format or combined with other products that may be offered to a healthcare consumer.

Health-Illustrated Encyclopedia

The health-illustrated encyclopedia is a general health reference product containing approximately 3,600 articles relating to diseases and health conditions, medical tests, symptoms, injuries, treatment options, surgical procedures and nutrition. The content is organized by topic or condition and is enhanced with graphical illustrations. It is also available in the Spanish language.

In-Depth Disease and Condition Reports

In-Depth Disease and Condition Reports are available as a library or individually by topic and is generally sold with the Health Illustrated Encyclopedia. The In- Depth Reports provide the reader an understanding of the subject and is targeted to the eighth grade reading level.

Consumer ACCESS

ACCESS provides medically reviewed information on the integration of alternative therapies with traditional medicine. It includes approximately 170 health conditions, 120 herbs and supplements, 20 monographs on complementary treatments and 1,600 drug monographs.

Care Guides

Care Guides are comprehensive patient care guides on the most common chronic conditions, such as asthma, allergies, diabetes type 1, high-blood pressure and high-cholesterol. Each guide contains key points, supplemental reading and information to help patients make educated healthcare decisions.

Pregnancy Health Center

The Pregnancy Health Center provides topical health information and interactive tools addressing pregnancy, from pre-conception to post-partum. In this segment, its serves hospitals supporting maternity service line, health plans, employers and specialty Websites.

Surgeries and Procedures

This product is a Web-based product that explains various surgeries and medical procedures using step- by-step, easy to understand language supplemented by medical illustrations, diagrams and imagery. Here it serves hospitals, health plans, physician practices and Internet Websites.

A.D.A.M. Interactive Anatomy

The A.D.A.M. Interactive Anatomy product is a CD-ROM product that simulates human anatomical dissection of both male and female bodies. More than 22,000 anatomical structures can be identified using this interactive program.

A.D.A.M. At Home Series School Editions

The A.D.A.M. At Home Series School Editions is a series of compact disc read only memory (CD-ROM) products, including A.D.A.M. The Inside Story, Nine Month Miracle and Life's Greatest Mysteries coupled with curriculum guides for teachers.

The Company competes with WebMD Corporation, the American Medical Association, the Mayo Clinic and Healthwise, Inc., Health Ink & Vitality and Greystone.net.

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Form 10QSB for ADAM INC


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16-Aug-2004

Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
GENERAL

The following information should be read in conjunction with the consolidated financial statements and the notes thereto and in conjunction with Management's Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-KSB for the fiscal year ended December 31, 2003.

We specialize in the creation and delivery of interactive health information and decision support tools primarily marketed to the healthcare industry and for educational applications that are primarily sold to the K through 12 and undergraduate educational markets. Our products for healthcare are designed to educate and inform the healthcare consumer on various aspects of their health and wellness. They can be used for learning about general health concerns, specific diseases and treatments, surgical procedures, drug information, specialty health subjects (such as women's health and children's health), nutrition, alternative medicine and more. Our products for the education market include applications designed to teach students gross anatomy and physiology as well as allowing educators to use the products to develop interactive, multimedia-based classroom curricula.

The health information that we develop or acquire from third parties meets rigorous editorial standards. We employ two physicians and use an extensive network of physicians and specialists who are continually reviewing and updating our information. We add to our content library when needed such as when important health issues arise or when our customers request specific products to support their product and service offerings. Our health information is accredited by URAC, a nationally recognized, non-profit organization committed to promoting healthcare quality through accreditation and certification programs. Also, we are a founding member of Hi-Ethics, a coalition of the most widely referenced health websites and information providers committed to developing industry standards for the quality of consumer health information.

We sell our health products and decision support tools primarily through annual licensing agreements to many different types of healthcare and health-related organizations including hospitals, health plans, pharmaceutical companies, disease management vendors, health-oriented Internet websites, healthcare technology companies and large employers. Our health information and tools can be incorporated into a customer's website, imbedded in healthcare applications such as an electronic medical record or disease management application, contained in a printed format, or combined with other products that may be offered to a healthcare consumer.

We believe that the quality of our products, coupled with unique technology for exploring the human body, the depth and breadth of our proprietary health information database, and our specialized knowledge, expertise and brand-awareness position us well for future growth.

We market our products, tools and applications and derive revenues primarily in three areas:

• The healthcare industry;

• Public and restricted access Internet websites; and

• Educational institutions.

We were incorporated in 1990 as A.D.A.M. Software, Inc. We changed our name to adam.com, Inc. in 1999 and to A.D.A.M., Inc. in 2001. We are headquartered in Atlanta, Georgia.

CRITICAL ACCOUNTING POLICIES

Discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with generally accepted accounting principles in the United States for interim financial information. The preparation of these consolidated financial statements requires us to make estimates and judgments that affect the amounts reported in the consolidated financial statements and the accompanying notes. On an ongoing basis, we evaluate our estimates, including those related to product returns, product and content development expenses, bad debts, inventories, intangible assets, income taxes, contingencies and litigation. We base our estimates on experience and on various assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

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We believe the following critical accounting policies affect our more significant judgments and estimates used in the preparation of our consolidated financial statements.

Revenue Recognition

We recognize revenue in accordance with SEC Staff Accounting Bulletin No. 101, "Revenue Recognition in Financial Statements," as amended by SAB 101A and 101B and as revised by SAB 104, "Revenue Recognition" and Statement of Position No. 97-2, "Software Revenue Recognition." Accordingly, we recognize revenue when:
(1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services rendered; (3) the fee is fixed or determinable; and (4) collectibility is reasonably assured. Determination of criteria (3) and (4) is based on management's judgments regarding the fixed nature of the fee charged for services rendered and products delivered and the collectibility of those fees. Should changes in conditions cause management to determine these criteria are not met for certain future transactions, revenue recognized for any reporting period could be adversely affected.

We generate revenues mainly in two ways - through subscription-based licensing agreements and product sales. Subscription revenues consist primarily of license fees that usually consist of an annual, up-front fee that is initially recorded as deferred revenue. This revenue is recognized ratably over the term of the license agreement beginning after delivery has occurred, upon customer acceptance or live date and when we have determined that the fees from the agreement are fixed and determinable and there are no significant return or acceptance provisions. For license fees earned through our resellers, we do not recognize any revenue until an agreement has been finalized between the customer and our authorized reseller and the content has been delivered to the customer by our reseller. Revenue is not recognized under any circumstances, unless collectibility is deemed probable. Revenues from product sales represent the sales of CD ROM and other offline products and revenues earned under certain royalty agreements. Revenues from product sales are generally recognized at the time title passes to customers, distributors or resellers. We also recognize a portion of our revenues from royalty agreements. Revenues from royalty agreements are recognized as earned based upon performance or product shipment.

Sales Returns Allowances and Allowance for Doubtful Accounts

Significant management judgments and estimates must be made and used in connection with establishing the sales returns and other allowances in any accounting period. Management must make estimates of potential future product returns related to current period product revenue. Allowances for estimated product returns are provided at the time of sale. We evaluate the adequacy of allowances for returns primarily based upon our evaluation of historical and expected sales experience and by channel of distribution. The judgments and estimates of management may have a material effect on the amount and timing of our revenue for any given period.

Similarly, management must make estimates of the uncollectibility of accounts receivable. Management specifically analyzes accounts receivable and historical bad debts, customer concentrations, customer credit-worthiness, current economic trends and changes in our customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. If the financial condition of our customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances would be required.

Capitalized Software Product and Content Development Costs

We capitalize internal software product and content development costs in accordance with Financial and Accounting Standards Board ("FASB") Statement No. 86 ("FAS 86"), "Accounting for the Costs of Computer Software to Be Sold, Leased, or Otherwise Marketed." This statement specifies that costs incurred internally in creating a computer software product shall be charged to expense when incurred as research and development until technological feasibility has been established for the product. Technological feasibility is established upon completion of all planning, designing, and testing activities that are necessary to establish that the product can be produced to meet its design specifications including functions, features, and technical performance requirements. We cease capitalization of internally developed software when the product is made available for general release to customers and thereafter, any maintenance and customer support is charged to expense when related revenue is recognized or when those costs are incurred. We amortize such capitalized software product and content development costs as cost of sales on a product-by-product basis using the straight-line method over a period of two years. We continually evaluate the recoverability of capitalized software product and content development costs and if the successes of new product releases are less than we anticipate then a write-down of capitalized software product and content development costs may be made which could adversely affect our results in the reporting period in which the write-down occurs.

We also capitalize internal software product and content development costs in accordance with the American Institute of Certified Public Accountants Statement of Position 98-1 ("SOP 98-1"), "Accounting for the Costs of Computer Software Developed or Obtained for Internal Use." This statement specifies that computer software product and content development costs for computer software intended for internal use occurs in three stages: (1) the preliminary project stage, where costs are expensed

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as incurred, (2) the application development stage, where costs are capitalized, and (3) the post-implementation or operation stage, where again costs are expensed as incurred. We cease capitalization of developed software for internal use when the software is ready for its intended use and placed in service. We amortize such capitalized software product and content development costs as cost of sales on a product-by-product basis using the straight-line method over a period of three years. We continually evaluate the usability of the products that make up our capitalized software product and content development costs and if certain circumstances arise such as the introduction of new technology in the marketplace that management intends to use in place of the capitalized project, then a write-down of capitalized software product and content development costs may be made which could adversely affect our results in the reporting period in which the write-down occurs.

Inventory

We record reserves for estimated obsolescence or unmarketable inventory equal to the difference between the cost of inventory and the estimated market value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, additional inventory write-downs may be required.

Goodwill and Intangible Assets

We have recorded goodwill in connection with our acquisition of Integrative Medicine Communications, Inc. ("IMC") in 2001 and Nidus Information Services, Inc. ("Nidus") in 2002. In July 2001, the FASB issued Statement of Financial Accounting Standards ("SFAS") No. 141, "Business Combinations," and SFAS No. 142, "Goodwill and Other Intangible Assets."

SFAS 141 requires the purchase method of accounting for all business combinations and that certain acquired intangible assets in a business combination be recognized as assets separate from goodwill. We have applied SFAS 141 in our allocation of the purchase price to the IMC and Nidus acquisitions.

SFAS 142 requires that goodwill and other intangibles that have an indefinite life are no longer to be amortized but are to be tested for impairment at least annually. In assessing impairment we must make judgments and assumptions regarding estimated future cash flows and other factors to determine the fair value of the respective net assets. Other factors that could cause impairment could result from a significant decline in our stock price for a sustained period and our market capitalization relative to net book value. If these estimates or their related assumptions change in the future, we may be required to record an impairment charge for the recorded goodwill. We conducted the impairment test for fiscal 2003 and concluded no impairment had occurred. Since we did not have any goodwill recorded prior to the IMC and Nidus acquisitions, the provision of SFAS 142 requiring companies to stop amortizing goodwill did not have an impact on our ongoing operating results or the comparability of such results with prior periods.

Income Taxes

As part of the process of preparing our consolidated financial statements we are required to estimate our taxes in each of the jurisdictions in which we operate. This process involves management estimating the actual tax exposure together with assessing temporary differences resulting from differing treatment of items for tax and U.S. GAAP purposes. These differences result in deferred tax assets and liabilities, which are included within our consolidated balance sheet. We must then assess the likelihood that deferred tax assets will be recovered from future taxable income and to the extent we believe that recovery is not likely, we must establish a valuation allowance. To the extent we establish a valuation allowance or increase this allowance in a period, an expense is recorded within the tax provision in the consolidated statement of operations.

Variable Stock Options

In March 2000, the FASB issued Financial Interpretations No. 44 ("FIN 44"), "Accounting for Certain Transactions involving Stock Compensation (an interpretation of APB Opinion No. 25)." This opinion provides guidance on the accounting for certain stock option transactions and subsequent amendments to stock option transactions. FIN 44 was effective July 1, 2000, but certain conclusions cover specific events that occur after either December 15, 1998 or January 12, 2000. We have from time to time since 1991 granted stock options to our employees to purchase shares of our common stock. Certain of these options were canceled at the option of their holders on January 14, 1999, and then replaced that day on a one-for-one basis with new options with an exercise price equal to the closing market price that day.

The adoption of FIN 44 did not have a material impact on our financial position or results of operations. This interpretation requires variable accounting treatment for options that have been modified from their original terms. Accordingly, compensation cost shall be adjusted for increases or decreases in the intrinsic value of the modified awards in subsequent periods and until the awards have been exercised, forfeited, or expired. As of June 30, 2004, we have 231,438 outstanding options with

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an exercise price of $5.25 that are considered variable under this interpretation. Because the stock price since the effective date of July 1, 2000 has been below $5.25, we have not recorded any compensation cost related to the repriced options issued on January 14, 1999. Should our stock price climb above $5.25 our operating results will be affected until the stock options are either exercised or forfeited and could adversely affect any reporting period in which the variable accounting is required. Any charges that result from these variable options would be non-cash operating expenses and will be reported on a separate line item.

RESULTS OF OPERATIONS

Comparison of the Three Months Ended June 30, 2004 with the Three Months Ended June 30, 2003


Revenues

Three Months
Ended June 30, 2004 % of 2003 % of
2004 2003 $ Change % Change Total Rev Total Rev

Healthcare $ 1,316 $ 1,129 $ 187 16.6 % 68.1 % 58.4 %
Internet $ 374 $ 450 $ (76 ) -16.9 % 19.3 % 23.3 %
Education $ 238 $ 351 $ (113 ) -32.2 % 12.3 % 18.1 %
Other $ 5 $ 4 $ 1 25.0 % 0.3 % 0.2 %
Total Net Revenues $ 1,933 $ 1,934 $ (1 ) -0.1 % 100.0 % 100.0 %


Total revenues decreased $1,000, or 0.1%, to $1,933,000 for the three months ended June 30, 2004 compared to $1,934,000 for the three months ended June 30, 2003.

Revenues from the healthcare market increased $187,000, or 16.6%, to $1,316,000 for the three months ended June 30, 2004 compared to $1,129,000 for the three months ended June 30, 2003. Our products for the healthcare industry target a broad range of businesses including hospitals and hospital systems, health plans, healthcare technology companies, and pharmaceutical companies. We believe we are well positioned to grow our business in healthcare as the demand for health information grows and as content becomes an increasingly important business driver within the healthcare industry. We have also undertaken technological initiatives to enable our content products to be used in broader applications within the healthcare industry such as electronic medical records and other point-of-care applications. These initiatives as well as our continuing efforts to expand our presence in the healthcare industry contributed to the increase in healthcare industry revenues during the three months ended June 30, 2004. As a percent of total revenues, revenues from the healthcare market increased to 68.1% for the three months ended June 30, 2004 compared to 58.4% for the three months ended June 30, 2003.

Revenues from the Internet market decreased $76,000, or 16.9%, to $374,000 for the three months ended June 30, 2004 compared to $450,000 for the three months June 30, 2003. The Internet market includes public and restricted access Internet portals and large media-related websites that host a variety of consumer-oriented content and services. The decrease in our Internet revenues was primarily due to the expiration of license agreements within the Internet market and due to our continuing efforts to expand our presence in the healthcare industry. As a percent of total revenues, revenues from the Internet market decreased to 19.3% for the three months ended June 30, 2004 compared to 23.3% for the three months ended June 30, 2003.

Revenues from the education market decreased $113,000, or 32.2%, to $238,000 for the three months ended June 30, 2004 compared to $351,000 for the three months ended June 30, 2003. Education market revenues consist primarily of CD ROM-based product sales. This decrease was primarily attributable to a $124,000 decrease in sales of our CD ROM-based products, primarily due to an aging product line. We are currently developing a major upgrade to our flagship product for education, A.D.A.M. Interactive Anatomy, which we expect to release during the third quarter of 2004. The decrease in sales of our CD ROM-based products is net of a $48,000 increase in sales of a new CD ROM-based product that we began selling during the fourth quarter of 2003 and a $17,000 increase in sales of our CD ROM-based products through a distributor. As a percent of total revenues, revenues from the education market decreased to 12.3% for the three months ended June 30, 2004 compared to 18.1% for the three months ended June 30, 2003.


Operating Expenses

Three Months 2004 % 2003 %
Ended June 30, of of
Total Total
2004 2003 $ Change % Change Rev Rev

Costs of Revenues $ 361 $ 411 $ (50 ) -12.2 % 18.7 % 21.3 %
General and
Administration $ 400 $ 454 $ (54 ) -11.9 % 20.7 % 23.5 %
Product and Content
Development $ 336 $ 339 $ (3 ) -0.9 % 17.4 % 17.5 %
Sales and Marketing $ 385 $ 437 $ (52 ) -11.9 % 19.9 % 22.6 %
Depreciation and
Amortization $ 146 $ 180 $ (34 ) -18.9 % 7.6 % 9.3 %
Total Operating
Expenses $ 1,628 $ 1,821 $ (193 ) -10.6 % 84.1 % 94.2 %


Cost of revenues decreased $50,000, or 12.2%, to $361,000 for the three months ended June 30, 2004 compared to $411,000 for the three months ended June 30, 2003. Cost of revenues includes shipped product components, packaging and shipping costs, newsletter printing costs, distribution license fees, royalties and amortization of capitalized software product and content development costs. This decrease was primarily the result of a $79,000 decrease in software product and content development amortization due to certain capitalized products and content being fully amortized. This decrease was offset by a $28,000 net increase in distribution license fees from the sales of our Spanish language products, the sales of our third party licensing agreement products, and royalty expenses. As a percent of total revenues, cost of revenues decreased to 18.7% for the three months ended June 30, 2004 compared to 21.3% for the three months ended June 30, 2003.

General and administrative expenses decreased $54,000, or 11.9%, to $400,000 for the three months ended June 30, 2004 from $454,000 for the three months ended June 30, 2003. This decrease was primarily attributable to a $62,000 decrease in

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bad debt expense, a $26,000 decrease in investor relations expenses, a $16,000 decrease in general insurance costs, and a $10,000 decrease in rent expense due to the expiration of the building lease agreement in Boston. This decrease was offset by a $44,000 increase in legal and accounting expenses and an $18,000 increase in taxes and licenses. As a percent of total revenues, general and administrative expenses decreased to 20.7% for the three months ended June 30, 2004 compared to 23.5% for the three months ended June 30, 2003.

Product and content development expenses decreased $3,000, or 0.9%, to $336,000 for the three months ended June 30, 2004 from $339,000 for the three months ended June 30, 2003. This decrease was primarily attributable to a $96,000 decrease in research and development expenses due to amounts being capitalized. This decrease was offset by a $54,000 increase in capitalized expenses of internally developed products for resell and internal use, a $25,000 increase in editorial consulting expenses, and a $12,000 increase in salaries. As a percent of total revenues, product development expenses decreased to 17.4% for the three months ended June 30, 2004 compared to 17.5% for the three months ended June 30, 2003.

Sales and marketing expenses decreased $52,000, or 11.9%, to $385,000 for the three months ended June 30, 2004 from $437,000 for the three months ended June 30, 2003. This decrease was primarily attributable to a $44,000 decrease in commissions due to a change in commission programs and a decrease in headcount, a $21,000 decrease in salaries, a $4,000 decrease in advertising and a $9,000 decrease in dues and fees. This decrease was offset by a $26,000 increase in consulting expenses pertaining to the planned release of our major upgrade to
A.D.A.M. Interactive Anatomy (see above). As a percent of total revenues, sales and marketing expenses decreased to 19.9% for the three months ended June 30, 2004 compared to 22.6% for the three months ended June 30, 2003.

Depreciation and amortization expenses decreased $34,000, or 18.9%, to $146,000 for the three months ended June 30, 2004 from $180,000 for the three months ended June 30, 2003. This decrease was primarily attributable to a $4,000 decrease in depreciation of assets and a net decrease of $30,000 of purchased contract and content acquisition amortization. As a percent of total revenues, depreciation and amortization expenses decreased to 7.6% for the three months ended June 30, 2004 compared to 9.3% for the three months ended June 30, 2003.

As a result of the factors described above, operating profit increased $192,000 to $305,000 for the three months ended June 30, 2004 compared to an operating profit of $113,000 for the three months ended June 30, 2003.

Other Expenses and Income

Interest income, net, was $10,000 and $13,000 for the three months ended June 30, 2004 and 2003, respectively.

For the three months ended June 30, 2003 no provision was estimated for income taxes. We had sufficient net operating loss carry forwards to offset regular taxable income. As of June 30, 2004, we continue to maintain a valuation allowance against our total net deferred tax asset balance. If we achieve sustained profitability, we may be required to reverse the valuation allowance. We do not expect to reverse the valuation allowance during 2004.

As a result of the above, we had a net income of $315,000 for the three months ended June 30, 2004 compared to a net income of $126,000 for the three months ended June 30, 2003.

Comparison of the Six Months Ended June 30, 2004 with the Six Months Ended June 30, 2003


Revenues

Six Months
Ended June 30, 2004 % of 2003 % of
2004 2003 $ Change % Change Total Rev Total Rev

Healthcare $ 2,476 $ 2,218 $ 258 11.6 % 67.2 % 51.8 %
Internet $ 743 $ 1,439 $ (696 ) -48.4 % 20.2 % 33.6 %
Education $ 458 $ 614 $ (156 ) -25.4 % 12.4 % 14.4 %
Other $ 7 $ 7 $ - 0.0 % 0.2 % 0.2 %
Total Net Revenues $ 3,684 $ 4,278 $ (594 ) -13.9 % 100.0 % 100.0 %


Total revenues decreased $594,000, or 13.9%, to $3,684,000 for the six months ended June 30, 2004 compared to $4,278,000 for the six months ended June 30, 2003.

Revenues from the healthcare market increased $258,000, or 11.6%, to $2,476,000 for the six months ended June 30, 2004 compared to $2,218,000 for the six months ended June 30, 2003. We are well positioned in the market as the demand for health information grows and as content becomes an increasingly important driver for business growth within the healthcare industry. We have also undertaken technological initiatives to enable our content products to be used in broader applications within the healthcare industry such as electronic medical records and other point-of-care applications. These two factors and our continuing efforts to expand our presence in the healthcare market contributed to the increase in healthcare market revenues during the six months ended June 30, 2004. As a percent of total revenues, revenues from the healthcare market increased to 67.2% for the six months ended June 30, 2004 compared to 51.8% for the six months ended June 30, 2003.

---------------------------------------


ADAM - ADAM INC (NASDAQ)
Date Open High Low Last Change Volume % Change
09/10/04 2.83 2.88 2.83 2.83 +0.03 12900 +1.07%


Composite Indicator
Trend Spotter TM Buy

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 Buy
20 Day Bollinger Bands Hold

Short Term Indicators Average: 80% - Buy
20-Day Average Volume - 35520

Medium Term Indicators
40 Day Commodity Channel Index Buy
50 Day Moving Average vs Price Buy
20 - 100 Day MACD Oscillator Buy
50 Day Parabolic Time/Price Buy

Medium Term Indicators Average: 100% - Buy
50-Day Average Volume - 24306

Long Term Indicators
60 Day Commodity Channel Index Buy
100 Day Moving Average vs Price Buy
50 - 100 Day MACD Oscillator Buy

Long Term Indicators Average: 100% - Buy
100-Day Average Volume - 17364

Overall Average: 96% - Buy

Price Support Pivot Point Resistance

2.83 2.80 2.85 2.90


http://quote.barchart.com/texadv.asp?sym=ADAM
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Dog


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Repoman75
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Dardadog had some great picks! This just hit $7.

--------------------
Stick with Repo's plan in '07 - FRPT/DKAM!

Posts: 6379 | From: PA | Registered: Dec 2004  |  IP: Logged | Report this post to a Moderator
Repoman75
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Up again today.

--------------------
Stick with Repo's plan in '07 - FRPT/DKAM!

Posts: 6379 | From: PA | Registered: Dec 2004  |  IP: Logged | Report this post to a Moderator
   

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