Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes -- Ignore unavailable to you. Want to Upgrade?

To: Steven G. Trapp & Company who wrote (33497)	3/22/1999 1:29:00 PM
From: Paul M.	Respond to of 34592

More news on PENC, I hope some took my advice, see below Company Press Release SOURCE: Pen Interconnect, Inc. Pen Interconnect Awarded New Contracts Valued Over $1 Million; PowerStream Division Successful in New Proprietary Technology IRVINE, Calif., March 22 /PRNewswire/ -- Pen Interconnect, Inc. (Nasdaq: PENC - news) announced today that its PowerStream division has signed new contracts with two major OEM customers for over $1 million for the design and manufacturing of proprietary power products. These products include a NiCD battery pack with an intelligent control module and a four bay Nickel Metal Hydride battery charger. Daniele Reni, PowerStream's President said, ''These two major customers have chosen PowerStream to be their primary technology sources for battery charger and power supply design and development. These two projects are just the beginning of our efforts for these customers and their future products.'' Steve Fryer, President and CEO of Pen Interconnect, PowerStream's parent, indicated, ''Our investment in PowerStream is finally starting to pay off with the kind of proprietary product based business we were counting on. There is no end to the type of development work that P/S is capable of handling, particularly in the power products business.'' PowerStream Technology, located in Orem, UT specializes in the custom design and manufacture proprietary products in the areas of power supplies, battery chargers and UPS units. Pen Interconnect, Inc. provides the total manufacturing solution including circuit design, board design from schematic, mechanical and product design, prototype assembly, volume board assembly, system services and end-user distribution. Pen Interconnect, Inc. has manufacturing support facilities in California, Utah and China. For a complete package on the Company's product data, visit their web site at pen-interconnect.com. The statements contained in this news release that are not purely historical are forward-looking statements that may involve risks and uncertainties. The Company's actual results may differ significantly from the results contained in the forward-looking statements. Factors that might cause such differences include, but are not limited to, the effect of losses and other factors on the Company's credit facilities, business and results of operations; the Company's limited capital resources and its ability to fulfill its existing obligations and ongoing capital needs; risks associated with excess or obsolete inventory; the potential impairment of assets; the Company's dependence on key customers and their financial viability; the impact of competition; and the Company's abilities to effectively manage growth. These and other risk factors are discussed in the Company's filing on Forms 8-K, S-3, 10-QSB and 10-KSB. CONTACT: Stephen Fryer, CEO of Pen Interconnect, Inc., 949-798-5800; or Richard Carpenter or Jeff Lamberson, both of American Financial Communication, 916-552-6532. SOURCE: Pen Interconnect, Inc. --------------------------------------------------------------------------------