WIZZF profiled in the stockprowler:
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And now the Stockprowler.com pick of the week
WSi Interactive Corp. (WIZZF:OTC:BB)
Corporate Web site: ws-i.com
Shares Outstanding: 41.3 million
Public Float: 37.6 million
Market Capitalization: $72.3 million
Insider Ownership: 9%
Closing Price Thursday: $1.75
WSi Interactive Corp. is a Canadian based Internet business development and marketing company. WSi builds, manages and markets online businesses in the financial, e-tailing and e-commerce, entertainment and e-advertising sectors. WSi is primarily an Internet incubator focusing on early-stage companies where it is able to add considerable value to the investment through a network of strategic alliances and relationships, and through its experience helping start-up Internet companies build traffic, develop brands, and capitalize on a multitude of revenue streams.
The WSi business model is strikingly similar to that of CMGI (NasdaqNM)? like CMGI, WSi began as a direct marketing agency and has grown to become a specialist in e-commerce and e-advertising. WSi plans to establish itself as a leader in the Internet economy by becoming a one-stop shop for e-commerce, advertising, financial information and entertainment. WSi recently teamed up with IBM Canada to create "the first full service dot com incubator." The alliance with IBM will allow WSi "to take on business projects of virtually unlimited scope and significantly enhance its ability to accelerate the early stage development of these businesses." The agreement calls for WSi and IBM to work together to review selected business plans, to provide access to seed capital for start-up companies, provide management and technology assistance to get the projects moving, as well as, assisting with product/services sales and support. Stephane Boisvert, an executive with IBM Canada, stated, "WSi's focus on start-up companies was a great fit for IBM."
WSi Interactive has some 30 web business concepts either in the planning or development stages. The growth of the Internet and e-commerce is creating a rapidly expanding market for companies like WSi? according to Forrester Research, U.S. Internet advertising expenditures are expected to increase from $1.3 billion in 1998 to $10.4 billion in 2002. WSi is well positioned to take advantage of this growth. WSi has opened offices in Los Angeles, Seattle, and Toronto and additional offices are planned for NewYork, Frankfurt, and Sydney. In addtion, unlike other Internet incubators, WSi is profitable now with an ongoing revenue stream from its subsidiaries, plus proprietary Internet businesses that are generating significant revenue? WSi showed net income for the first 6 months this year of C$796,000 on revenues totaling C$2,900,000.
WIZZF recently moved to become a major player in broadband communications by securing exclusive rights from Global Communications, Inc. (GLBX:Nasdaq) to the "dark fiber" broadband network for much of Canada and Washington state. In addition, WSi is planning to be a key player in a wireless broadband communications network that, when completed, will cover Canada and the United States. Wireless and fiber broadband offers many advantages over the traditional web, the most important being that WSi will be able to do true multicasting at very high speeds and send High Definition Television though the broadband network. Mat Matson, President of Global Communications said, "It is because we share WSi's vision of the future that we are excited to be working with them. The combination of WSi's Internet business and marketing acumen combined with Global's fiber network, software, and technology will create boundless opportunity for business growth for WSi."
WSi Interactive was the subject of a recent segment of Ask the Analyst at ON24.com. A replay can be heard here? The latest Market Guide/ProVestor Plus company report on WIZZF, dated April 15, 2000, shows no insider buying or selling in the last 6 months. In addition, the report lists no long term or short term debt for the company. It is the opinion of Stockprowler.com that WIZZF, at current trading levels, represents an incredible ground floor opportunity? WSi Interactive has the potential to be the next big Internet incubator. It is the view of Stockprowler.com that WIZZF is a moderate risk speculation with a high potential reward? our 12 month target is $5 - $10.
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