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Technology Stocks : CustomTracks Corporation (CUST) -- Ignore unavailable to you. Want to Upgrade?

To: SAMS BONE who wrote (144)	5/24/1999 12:09:00 PM
From: Jenne	Read Replies (1) \| Respond to of 2514

JOSEPH CHARLES & ASSOCIATES ANNOUNCES CUSTOMTRACKS INTERIM PRICE TARGET OF 230 a Share PR NEWSWIRE - May 24, 1999 12:01 $230 Based on Only One New Product Release BOCA RATON, Fla., May 24 /PRNewswire/ -- The following is being issued by Joseph Charles & Associates, Inc., a member of the National Association of Securities Dealers, CRD number 3949: CustomTracks, Corp. (Nasdaq: CUST) CEO David Cook (founder of Blockbuster Video and AMTECH Corporation) announced the third quarter release of its proprietary anonymous Internet Payment and Document Transfer technology based on its Digital Signature protocol using a bit size significantly larger and more secure than those currently in use or announced for deployment by the competition. A significant impediment to the growth of e-commerce is the lack of Internet security and the fear consumers have of putting their credit card and personal information on the Internet. CustomTracks purports to solve this problem and has partnered with the leading e-commerce design company, the Lante Corporation, making these claims plausible. CUST has more than $83 million in cash and marketable securities on hand to launch its new businesses. Technical action in the stock indicates strong accumulation, and the growing short interest position should provide a springboard to higher levels. CustomTracks' insiders continue to purchase large dollar amounts of stock in the open market without regard to price, while peer group insiders of public e-payment and e-data security companies have been selling their shares in large dollar amounts. The high degree of confidence CustomTracks has in its technology is highlighted by a remark made by Douglas H. Kramp, the company's newly appointed and first Executive Vice President for Strategic Business Development, "I am looking forward to joining CustomTracks' management team. Their Digital Signature technology, in my opinion, is the most exciting development on the Internet since the browser." Companies competing with businesses that are a subset of CustomTracks' master business carry significant market valuations. VeriSign (Nasdaq: VRSN), currently considered the leading provider of Internet-based certification services to e-commerce merchants and financial institutions, has penetrated 1% of the worldwide market resulting in a market capitalization of $3.5 billion. If CustomTracks can successfully achieve a market penetration equal to VeriSign's 1%, it is reasonable to assume that CUST could achieve a comparable market valuation for just this single element of its business. Dividing a $3.5 billion market capitalization by CUST's current share base of 15.2 million, we arrive at an interim stock price of $230/share based only on CustomTracks' Digital Signature business. We view this as an interim price target and plan to revise this figure when CustomTracks announces additional applications of its core technologies. Information and statements contained herein, other than historical information, should be considered forward-looking, which involve risk and uncertainties. Joseph Charles & Assoc., Inc., its officers, directors and affiliates may maintain positions in the securities referenced which may change at any time without notice. The securities referenced are speculative in nature and may not be suitable for your investment objective.