AMRE...News! May run like RNWK, AHWY...streaming video and audio content: Here's the news:
RICHMOND HILL, ONTARIO (April 12) BUSINESS WIRE -April 12, 1999-- Amer Alliance(OTC Bulletin Board:AMRE) American Alliance Corporation (Symbol: AMRE) today announced its plans to enter the European media streaming market through strategic affiliation and partnership agreements. Through whatsonline.com, an emerging aggregator and vertical presentation portal for targeted online audio and video media streaming content, the Company intends to make available a comprehensive selection of the latest European audio and video streamed news, entertainment, sports, fashion, finance, and technology.
"Much like the online phenomenon in the US market, Europeans have been signing on in greater numbers than ever before," comments Mr. Kesar S. Dhaliwal, President and CEO of American Alliance Corporation. "In Britain alone, where over 10,000 new users log on each day, a recent NOP Research Group report estimated that 10.6 million people now use the Internet, compared to just 385,000 Internet subscribers in 1994. Despite this growth, only 6 percent of the European population currently has access to the Internet, compared to an estimated 16 percent of the US population. We believe this 10 percent differential presents tremendous opportunity for our Company." THIRD ANALYST INITIATES COVERAGE
Along with Mr. Darren Robinson, a Certified Financial Analyst with Investors Research Institute, Inc. and Mr. Doug Wetzel, an analyst with Gilbert & Chatterton, Inc., UK based research analyst Mr. Mandeep S. Virdee with Oxford Barnes Equities Ltd. began investment coverage of American Alliance Corporation. "We believe American Alliance is at the center of one of the most exciting growth areas of the Internet - the convergence of audio, video and broadband transmission," states Mr. Virdee. "The marketplace has already proven its insatiable video viewing interest during President Clinton's grand jury testimony and Victoria Secret's fashion show where record numbers of people logged on at the same time."
Mr. Virdee continues, "With a solid balance sheet, aggressive management, and an exciting business model, we believe the marketplace will reward shareholders of American Alliance with a much higher valuation, possibly between $22 to $24 per share by year end. Longer term, as the Company further builds its business, we comfortably envision a market cap of over $1 billion, or around $85 per share. While our valuation model may initially seem aggressive and is only suitable for risk oriented investors, compare it to the split adjusted move of Broadcast.com, which went from around $16 per share to almost $180, before being acquired by Yahoo for $5.7 billion." ABOUT AMERICAN ALLIANCE
In the recently released 7th annual "Top Picks" survey by the Dick Davis Digest, widely followed analyst Doug Wetzel chose American Alliance as one of his "top stock picks" for 1999, with a near term target price of $20.00. In his research, Mr. Wetzel stated, "The development of Internet audio and video streaming technology to near broadcast quality, continued improvement of bandwidth, and increasingly robust architectures has significantly improved the effectiveness of the Internet as a global mass communications medium. Leading the way in the field of targeted streaming media content is American Alliance."
The availability of online media streaming content has been made possible by the development of Internet audio and video streaming technology to near broadcast quality by such companies as RealNetworks, Inc. (NASDAQ: RNWK), @home (NASDAQ: ATHM), AudioHighway (NASDAQ: AHWY), Visual Data (NASDAQ: VDAT) and InterVU Inc. (NASDAQ: ITVU). InterVU's patent pending, automated network has been used by a number of leading Internet corporations, including DoubleClick (NASDAQ: DCLK), Excite (NASDAQ: XCIT), and Lycos (NASDAQ: LCOS).
American Alliance Corporation is an aggregator and presentation portal for targeted Internet streaming media content. The Company offers a large, comprehensive selection of Internet programming, including sports, news, business and finance, health and medicine, technology, politics, and religion. Among other online content, American Alliance will broadcast live pay-per-view seminars and entertainment, trade shows, conferences, and training events on a worldwide basis. The Company has offices in Buffalo, NY, Richmond Hill, Ontario, and planned openings in London, England and Singapore. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1993 and section 21E of the Exchange Act of 1934 and is subject to safe harbor created by these sections. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its services and future customer acceptance for these services. |
