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Gold/Mining/Energy : Microforum (MCF:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: MICHEL GUIBERT who wrote (970)	4/9/1999 9:06:00 PM
From: arisetech	Read Replies (1) \| Respond to of 3896

From: newsout@canada-stockwatch.com Date: Fri, 09 Apr 1999 17:23:23 -0700 Subject: Stockwatch: Microforum Inc - Street Wire Microforum eyes U.S. market Microforum Inc MCF Shares issued 18,133,966 Apr 9 close $1.58 Fri 9 Apr 99 Street Wire INVESTORS HOPE FORM 20-F SIGNALS NASDAQ MOVE by Stockwatch Business Reporter Microforum's announcement that it has begun the process of filing a Form 20-F registration qualifying its shares to be solicited and traded by brokers in the U.S. has investors hoping that this is the first step in a move toward a coveted Nasdaq listing. Increasingly, Canadian high tech and Internet issues have been eyeing Nasdaq, where investor demand for such stocks has been insatiable. Howard Pearl, Microforum's president, candidly acknowledges that he would like the company's share price to reflect some of the market enthusiasm for Internet stocks but adds, "We're going to get where we're going." Followers of the stock believe that a move to Nasdaq would be a natural progression for the company. The review process for a Nasdaq application typically takes between 45-60 days after receipt of the necessary documentation. One of the initial listing requirements is that the bid price be $5 (U.S.). While Microforum shareholders may have to wait some time before learning whether the company will seek a Nasdaq listing, other eagerly anticipated news may be available soon. A preliminary statement regarding the company's fourth quarter results may be released as early as next week. Investors are particularly keen to see the revenue generated by Microforum's electronic commerce solutions and Internet-related operations. The company recently acquired Software Guaranty in a move intended to complement its existing electronic commerce services and give it a competitive advantage in penetrating what Taurus Capital Markets analyst Adam Adamou describes as "a highly lucrative market." Mr. Adamou says that he fully expects his year end estimate of $30-million in revenues for Microforum to be met. In the present climate, Mr. Adamou has grown cautious with respect to Internet stocks but he is enthusiastic about Microforum. "The company has been growing at a good pace," he says. "They have a very well thought out strategy." Taurus recently participated in arranging a $3.325-million special warrant financing for Microforum and Mr. Adamou will not discuss a target price until a prospectus has been filed, which is expected shortly. "On a relative scale, this is probably one of the most undervalued companies out there," Mr. Adamou says. In January, Canaccord Capital analyst David Wong had Microforum as a top stock pick, with a six-month target of $1.80 and a 12-month target of $3. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com