/15/00 - TheSubway.com Announces Investment Opinion on Imaging Technologies Corporation
WESTON, Fla., Jun 15, 2000 (BUSINESS WIRE) -- TheSubway.com Announces Investment Opinion on Imaging Technologies Corporation (OTCBB:ITEC) with a short term price target of $4.00 per share.
"Wednesday's CPI numbers were the most recent addition to a conglomeration of reports that have provided encouragement for investors that the Fed's bout with inflation is in the final rounds, and that the tightening cycle is at or near the end. Investors showed their approval today by accumulating rate-sensitive financial shares, which historically benefit from the conclusion of a rate hiking cycle. Shares of Bear Stearns got a lift after the securities firm reported positive second-quarter earnings, providing an optimistic first look at the profitability of companies in the financial sector in light of recent market volatility and a decrease in trading volume." Stated Peter Antipatis. More is available at thesubway.com.
Imaging Technologies Corp. (OTCBB:ITEC), for the purpose of future mergers and acquisitions, has established a wholly owned subsidiary, ITEC Ventures, Inc.
ITEC Ventures will also oversee the growth of the Company's two subsidiaries, dealseekers.com and color.com.
ITEC has just started to increase in price and volume over the past few trading days. The last period of which TheSubway.com performed public relations services for ITEC resulted in a high of $3.50 per share.
CRG is now placing a $4.00 short term price target in ITEC.
ITEC just announced at the close on Friday that they have retained Providential Securities, Inc. A major Investment Banking firm with over 40 brokers to bring ITEC to the attention of clients of the firm.
With this relationship established, how many other retail relationships will we see in the future?
ITEC also recently announced it has signed a definitive agreement with Imperial Bank, Los Angeles, to resolve litigation between the two parties.
This agreement returns to ITEC's management all control of its assets and day to day operations.
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