To: Brad Davies who wrote (8815 ) 12/26/2001 12:27:02 PM From: Sir Auric Goldfinger Read Replies (7) | Respond to of 19428 ASW: any idea who this schmuck at "Frontline Trader" is? Looks like the kind of note that you see in OTC BB stocks. You think ASW has any relation to this guy? "Frontline Trader Initiates Coverage A.C.L.N Ltd. 2001-12-26 08:00 (New York) Frontline Trader Initiates Coverage A.C.L.N Ltd. Urgent Strong Buy Near Term 100 % Upside Target. Massive Short Squeeze. NEW YORK, NY -- (INTERNET WIRE) -- 12/26/01 -- Frontline Trader, a leading provider of real time research and analytics for institutional and professional investors worldwide, issues an Urgent Strong Buy rating on A.C.L.N. Ltd. (NYSE:ASW). Highlights of today´s research report ASW responded emphatically to statements attributed to shortsellers in an article that appeared in The New York Times and in TheStreet.com. Aldo Labiad, the Chief Executive Officer, stated: ``These statements are not true. Company states cash and cash equivalents in its bank accounts on September 30, 2001 was $117,587,888. The Company's cash and cash equivalents are liquid and fully available for use in its business Based on 14.3 million shares outstanding this equals $ 8.22 cash per share The Company asked Mr. Bisschops, Chairman ASW whether he has sold any of the shares he owns and the Company has been advised by him that he has not made any sales of shares since the Company's initial public offering in 1998. The Company owns the Sea Atef, a 2,850 capacity ship that it uses in its logistics business. This ownership structure is common in maritime industry to minimize liability to the owner of the vessel. Record Third Quarter and First Nine-Month Results Year Over Year Quarterly Revenue Up 93%, Net Income Up 92%, Earnings Per Share Up 94% to $ 1.65 per Diluted Share Management appears very interested in unlocking shareholder value. ASW announced a one million share repurchase plan. President and Chief Executive Officer Aldo Labiad said, ``A stock repurchase at current market prices represents an excellent opportunity to enhance value for our shareholders. Frontline Trader is confident that ACLN is extremely profitable and operating in an attractive business. We believe the shares will trade at 7x our 2002 earnings per share estimate of $ 5.05 or $ 35.35 per share in 12 months. Short interest 3.3 million shares as of Dec.14, 2001. Float 6.4 million shares. Percent float sold short 51.5 %. Recent 80 % stock price decline was an orchestrated attack by short sellers. Company has satisfactorily answered all questions raised by short sellers. Based on exceptional profitability of the company, extremely low price earnings ratio, one million share repurchase, small float and huge short interest, we anticipate an immediate and massive short squeeze. Very near term target price $ 15.58 for a 100 % gain. The entire A.C.L.N Ltd research report as well as subscriptions to our real time research and analysis is available for purchase by institutional and professional investors. Disclaimer - This report should be considered as opinion only. Information presented is obtained from sources deemed to be reliable, but their accuracy is not guaranteed. The publisher is not a registered investment advisor. The information presented in this report should not be considered as investment advice. Employees and directors of Frontline Trader may or may not actively trade in investments discussed in this report, and these positions may be increased or decreased without notice. Information presented in this report should not be considered as a solicitation or offer to purchase any security or equity. Frontline Trader has received no compensation from the companies mentioned in this report, and has no affiliation with them. Contact: James George, Frontline Trader Phone: 435-408-3308 Email: frontlinetrader@yahoo.com