InfoCast Up -2: Co. Says Major Contracts
Pending
By KATHY CHU
Of DOW JONES NEWSWIRES
NEW YORK -- Over-the-counter Bulletin Board shares of InfoCast Corp.
(IFCC) surged up to 107% Friday, a week after the company partnered with
Computer Associates (CA) and a few weeks before InfoCast's scheduled
product launches.
On Aug. 23, InfoCast and Computer Associates released plans to develop a
customized audio hub for Imark Corp.
"The company was in development mode before and now we're going to
market with new products in the next couple of weeks," said Bo Woloshyn,
InfoCast's vice president of marketing.
InfoCast's next product release will be InfoCast Contact, said Woloshyn,
allowing users pre-paid access to application-service-provider, or ASP,
services.
Investors on chat boards speculated about upcoming alliances that may be
pushing the stock up.
Major contracts are also pending, according to Infocast, but details were not
released.
Shares of InfoCast, which lists on the over-the-counter Bulletin Board,
recently changed hands at $4.53, up $2.34, or 107%.
Total shares traded this week were 1.04 million shares, compared with
500,000 total shares changing hands last week, according to Nasdaq market
data, which compiles statistics for over-the-counter Bulletin Board
companies.
Woloshyn, InfoCast's vice president of marketing, said the company aims to
have its shares traded on one of the major stock exchanges in the near future.
InfoCast is currently restructuring its board of directors to comply with the
listing requirements of stock exchanges including the Nasdaq SmallCap
market, said Woloshyn. |
