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Gold/Mining/Energy : Canadian Small Cap Stocks

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To: CF Rebel who wrote (506)	10/29/2003 10:23:11 PM
From: CF Rebel	of 512

BakBone Software continues to execute. Sequential revenues were up 15% (excluding the prior quarter's one-time OEM revenue from Sony). Expenses continue to be well managed. Technology and marketing alliances continue to expand. Management is maintaining it's previously announced forward revenues and earning projections. Revenues for FY 2004 are anticipated to be in the $29-32 million range with earnings of $.04-.06 per share. (All numbers in $U.S.) On the conference call, in response to previous investor inquiries, the company stated that it has a 9-12 month time estimate for becoming listed on the Nasdaq. Management is pursuing an increased institutional investor base, research coverage and an industry representative board. Also stated was that there were no "big, $100,000+" deals as IT spending was sluggish (this in turn may have been due to large customers of NCR/Teradata delaying orders in anticipation of new NCR/Teradata upgraded software - BakBone software is sold with theirs). The fact that BakBone achieved it's 15% sequential growth in absence of large deals demonstrates it's strength in small and mid-size companies. After the large price run-up in the stock over the last month, and the posting of expected (but not exceeded) financial results, I expected a significant price drop today. This did not happen except early on. The strength of the stock is a definite surprise to me today. There was unusual record volume on Oct. 20th and 21st (see chart link below) that I didn't think was related to earnings rumors but to perhaps some impending deal. Today's strength with a no-positive-surprise earnings report along with last week's record volumes seems to point to something else upcoming. U.S. trading appears to be closing fast on Canadian trading volumes. The relationship with Vantage Point venture partner in Silicon Valley and presentations with industry analysts is likely causing this. finance.yahoo.com CF Rebel

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