Cyclopss Continues To Rise; Co.
Cites Ozone Interest
Dow Jones Newswires
NEW YORK -- Shares of Cyclopss Corp. (OZON)
followed a 42.9% advance on Friday with another strong
showing Monday, and the company attributed the surge to
investors smitten by the prospects for its ozone-based
food-cleansing systems.
Cyclopss was recently trading at 3 3/8, up 7/8, or 35%.
Nasdaq volume was strong at 2.68 million, dwarfing
average daily volume of 100,118.
The stock has traded up in strong volume since October 7,
when Cyclopss announced a deal to develop and
manufacture an ozone system to kill microbial
contaminants on foods. Ozone recently was given the
status of "generally recognized as safe" by the Food and
Drug Administration, the company said.
Cyclopss President William Stoddard said the stock
activity is likely due to interest in ozone as a
food-decontaminant alternative, particularly in light of the
attention food contamination received during the recent
e.coli scare. The focus on ozone has been sparked by the
FDA decision, he said.
The executive added that Cyclopss recently finished filming
a television documentary that focuses on the company and
the environmental impact of its products. Although the
special has not yet aired, news of its production may have
also helped attract attention, he said.
Cyclopss believes it is the only publicly traded ozone
company. As a result, Stoddard said he has been flooded
with calls from money managers and investors looking to
get in on the action.
Media inquires also have been made. On Friday, the Salt
Lake Tribune published an article on Cyclopss and its
promotion of the ozone systems.
The interest may pay off soon. Stoddard said the company
currently is in discussions for the use of its ozone-based
food-cleansing systems with a "significant" food producer,
but cautioned that it is uncertain where the talks will lead.
However passionate Cyclopss may be about the potential
for its products, there are other theories on the stock
activity. A trading source said the most recent surge
probably is due to a squeeze by short-sellers that grew
worried over the initial spike in share price last week and
are looking to cover their positions. Stoddard declined to
speculate on this possibility.
- By Gaston F. Ceron; 201-938-5174 |
