Thanks for the MNYC pick! News out yesterday makes this a PURE
"Market Maker Out Of Business" play:
Wednesday April 1, 4:42 pm Eastern Time
Company Press Release
SOURCE: IFS International Inc.
IFS Seeks New Principle Market Maker
TROY, N.Y., April 1 /PRNewswire/ -- IFS International Inc. (Nasdaq: MNYC - news, MNYCP
- news, MNYCW - news) is seeking a new investment banker to assist the company in future financing and to be its principle market maker.
Duke and Co., the underwriter and principle market maker for IFS' latest stock offering, has ceased doing business.
Frank Pascuito, IFS chairman, said, ''We see this as an opportunity to find new, high quality financial partners. We are currently in active discussions with other brokers, including investment bankers, regarding IFS' future capital needs.''
Dave Hodge, IFS president and CEO, said, ''Our recent progress evidenced by several key wins in the market place should position us well in our search for a new principle market maker.''
IFS International products are used to provide ATM, POS, smart card, debit card management, bank teller, bank platform, home banking and call center solutions to the financial industry.
Recent market makers for IFS series A preferred stock and class A warrants include: Herzog, Heine, Geduld; Sherwood Securities Corp.; and Josepthal Lyon & Ross.
Recent common stock market makers: Fahnestock & Co. Inc.; Paragon Capital Corp.; Josepthal Lyon & Ross; Naib Trading Corp.; and Herzog, Heine, Geduld.
IFS is headquartered in Troy, N.Y., with offices in the United Kingdom, Germany, Australia and Singapore. For additional information in the U.S., call 518-283-7900, FAX, 518-283-7336,
E-mail: marketing@ifsintl.com, web page: ifsintl.com. For information about Europe, the Middle East or Africa, call +44-1895-823626 or E-mail: IFS-UK@IFSINTL.COM. For
information about Asia call +65-97-393-474.
This is the announcement I was waiting for- check out what
VCLL and FLEM did right after similar announcements at the
beginning of the year- they went up 300-400% within a week.
And with MNYC trading at nearly half book value, for a technology
stock no less, this one looks like a shoo-in for the MOB
Hall Of Fame. Only 1 million outstanding for the common!
Only a smattering of inside selling Dec-Jan, and plenty of
market makers to take it back up- 9. Get in before they add
another MM to mop up those loose Duke shares and you got 6
bucks easy. The only drawback of this stock is that it is
very thinly traded. Count me in for 3000 shares at 3.38 at the bell!
Doug RNTK-ISON-CTVM-MBHC-CPFC-MDIX-NIGI-MNYC
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