| Our pick for the week of Sunday, September 2, 2001 is Phoenix based iBIZ Technology, Inc., trading on the OTC Bulletin Board under the ticker symbol IBIZ. iBIZ designs, manufactures, and distributes an expanding line of accessories for the fast-growing PDA and handheld computer market which are distributed through large retail chains such as CompUSA and Fry's Electronics as well as numerous e-commerce sites such as Walmart.com, Mobile Planet and others. iBIZ also provides web-enabling services which include co-location services, web design and development, and data center technical management services. The company has developed a wide range of accessories for PDA devices, including: keyboards, folding cradles, AC re-chargers, car chargers, travel hardcases and a 9 volt pocket charger. Additionally, iBIZ markets LCD monitors, OEM notebook computers, digital subscriber line services, third party software, and general-purpose financial application keyboards.
iBIZ' web-enabling services include web design and development, data center facilities offering web hosting, leased and shared servers, redundant backbone connections, multiple-backup power sources, full security, and 24/7 technical support. iBIZ is partnered with Qwest and provides not only DSL to residential customers but also dedicated, carrier-quality bandwidth with speeds ranging from fractional T1 lines to DS3 connectivity for our business clients.
On August 23, 2001, iBIZ announced that Staples (Nasdaq: SPLS), the pioneer of the office superstore industry, has begun selling iBIZ' innovative PDA accessories, available in over 1000 Staples stores nationwide. Ken Schilling, president and CEO of iBIZ Technology, remarked, “This is an outstanding opportunity for our company, and we are pleased that Staples has selected our innovative accessories for their stores. It allows us to dramatically expand our product availability, and with the explosive growth in the handheld computing market, and Staples' well-respected reputation for providing a diverse product selection, we couldn't ask for better exposure.”
Earlier in the month (August 6), iBIZ announced a potentially huge agreement with Eurpac, a worldwide distributor to U.S. Armed Forces. Eurpac Service, Inc. (Eurpac), the primary distributor of electronics, entertainment and other consumer products to U.S. military exchanges, U.S. Navy ships and veteran's canteen services located worldwide, will distribute iBIZ PDA accessories exclusively, beginning in August, 2001.
IBIZ recently (July 3) secured $825,000 in institutional financing for ongoing expansion of its product distribution channels and increased marketing of its data center/Web hosting services. CEO Schilling stated, “We also expect third quarter results to show continuing improvement in margins and narrower losses, with a possibility of reporting a quarterly profit by year-end, if everything falls into place.”
IBIZ closed up Friday at 4 cents on 1,010,000 shares traded. IBIZ has only 38 million shares outstanding and a float of just 24 million… very small by OTC Bulletin Board standards. Stocksnake.com views IBIZ as an exceptional opportunity at these price levels… Readers should take note that on August 23, IBIZ spiked to 55 cents on news of the contract with Staples. Readers are encouraged to visit the company web site for further information. ibizcorp.com
Stocksnake.com did not receive compensation of any kind from the company or third parties for writing this report. Readers are urged to read the company SEC filings and do their own due diligence before investing in this or any other stock.
* reprinted by permission from Stocksnake.com article on IBIZ dated 9-02-2001 |
|
