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November 18, 2004
Technology, Industrial Machinery, Services, Capital Goods & Financial

Technology
Scientific Technical Instruments
MFIC Corporation (MFIC-OTC)
“Our biggest customer base is in the biotech and pharmaceutical industries. About eighty percent of our sales are to those industries. We have made some progress in the food industry in areas such as soymilk manufacturing and nutraceuticals. Soymilk producers like our process because it produces a better product in terms of texture and taste, as well as being able to incorporate much more of the soy fiber into the product. That makes a better product as well as doing away with a large waste problem. We think we are going to make some progress there. We are continuing to focus on biotech and pharmaceuticals and to extend our reach further into that area.” - Irwin Gruverman

Industrial Machinery
Oil & Gas
Genoil Inc. (GNO - TSXV)
“There is a shortage of the light oil that you need to make gasoline and an abundance of heavy and that’s our market. We are coming in to provide a solution, to take that heavy oil and make it light; then supply the shortage. In addition to which, the Saudi oil that is coming out is heavy, but they probably have 7 or 8 million barrels a day of light oil that’s coming out of there and if it were disrupted it would be a severe blow to the western economy. That blow could be practically settled by using a technology like ours to convert the heavy oil into light, of those 13 million barrels a day of residual oil. We could then replace the Saudi oil off the residual oil that is presently being used as heavy oil for heating. The heavy oil would have to be replaced by clean burning coal, which we have domestically, or nuclear power. So there is a means of achieving energy independence from the Middle East, through our technology.” - David K. Lifschultz

Services
Business Services
Ventiv Health Inc. (VTIV - NASDAQ)
“We’ve had a very busy year over 2004. It’s been an incredibly strong year, particularly in terms of winning new business. We have won new business worth roughly $160 to $170 million on an annualized basis. We have added 1,600 representatives to our sales and marketing business; indeed a very large amount of new business on top of our base business. This has allowed us to continue to grow strongly in our sales and marketing business. In tandem with that we have also substantially broadened the footprint of the organization in two ways. Organically we’ve added and introduced a number of new offerings to our clients, leveraging existing capabilities of the organization, such as introducing The Therapeutic Institute, Professional Development services, Recruiting services and our Total Data Solutions services, among others. Secondly, we’ve also made two acquisitions that have further broadened the footprint of the organization. In June of this year (2004) we acquired the Franklin Group, a leading player in the compliance arena as well as in patient assistance. Most recently in September (2004) we announced the acquisition of Smith Hanley Corporation, a leading player in the outsourced clinical staffing business and recruiting arena. This gives us a leadership position in that part of the market, late stage clinical, just before commercialization. So, we’ve grown very substantially both from an organic point of view and we’ve further strengthened the organization with a couple of key acquisitions, enabling us to further build out our market leadership position across multiple arenas.” – John Emery, CFO

Capital Goods
Misc. Capital Goods
Met-Pro Corporation (MPR-NYSE)
“As I mentioned earlier Met-Pro’s Divisions and Subsidiaries have hundreds of years of combined experience with a broad and diverse customer base. We have an organization with outstanding employees and superior products. Each Met-Pro Division or Subsidiary offers field proven, time tested product or system solutions to meet a customer’s needs on time and on budget.” - Raymond De Hont

Financial
Savings and Loan
Guaranty Federal Bancshares, Inc. (GFED-NASDAQ)
“Guaranty Bank has a ninety year history of providing mortgage services to the southwest Missouri area. We are starting with a firm foundation and history and we are refocusing our efforts to regain the position as the top provider of mortgage lending in the area. We have recently added three seasoned professionals from competing organizations to our staff. We have relocated and consolidated our mortgage staff and greatly improved our efficiency. We have expanded our product line and we can serve just about any need that an individual would have. We have a high service level and do a good reputation for meeting customer’s needs.” - Shaun Burke

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November 4, 2004
Healthcare & Technology

Healthcare
Biotechnology & Drugs
Corgentech Inc. (CGTK – Nasdaq)
“Our drug is in the final development stage in two Phase III trials for a single indication of ‘prevention of vein graft failure’. Our first trial is in leg surgery. Here the vascular surgeon will use the greater saphenous vein to bypass clogged arteries in the leg, for patients who have leg pain at rest. That trial is fully enrolled with 1,400 patients in over eighty centers in the United States and we expect the results of that trial by the end of this year. The second trial is for cardiovascular arterial bypass graft (CABG) surgery has also completely enrolled all 2400 patients treated in over a hundred centers in the United States. The data from that trial will be available in the first quarter of 2005. We have Fast Tack designation from the FDA for both indications due to the high unmet medical need, compelling pre-clinical data, excellent safety profile, and no other approved drugs. This designation could afford Corgentech a shorter, six month, review cycle to approval.” - Richard P. Powers

Technology
Digital Imaging Tools
CompuMed Inc. (CMPD-OTC: BB)
“I believe the market for digital imaging tools is going to grow dramatically in the next few years. Investors already know that filmless x-ray machines are a hot market, in that hospitals are rapidly getting away from film. Any tools that are added to these platforms are going to be natural winners. There is one aspect of our offering that people miss- it’s not the product, the market or the intellectual property that is the hidden jewel in the whole thing- it is the CPT code. Getting a CPT code is a three to five year chore; it is very difficult. We have one dedicated to our technology, and it is a way for the manufacturer to have a better sales tool, and that is going to drive them our way. I feel that is going to become obvious to our investors very soon.” - Jerry McLaughlin

Technology
Software and hardware for on-demand solutions
Concurrent Computer Corporation (NASDAQ: CCUR)
“Customers are coming to us for a variety of reasons. Concurrent has extensive VOD deployment experience. Also, there are many unique requirements in each market, and we have a lot of expertise integrating with those different devices and software capabilities. We also have a unique architecture that we believe is leapfrogging our competition; it allows us to separate streams, storage and content ingest, giving operators the ability to independently scale streams and storage based on their customers’ needs. No one else does that.” - Steven Norton

Technology
Software and programming
Island Pacific (IPI-AMEX)
Island Pacific has a product called IPMS, which is a full merchandising ERP for mid-tier retailers. It is one of the most prominent packages in the retail software sector. We compared the applications or Island Pacific to the applications of Retail Technologies International (RTI), and realized the two combined would result in a full multi-channel offering for the mid-tier retailer. The merger was completed in early June of this year. As one company, we are stronger because we have a complete offering for mid-tier retailers -- from the store to the back office; the merchandising suite and direct sales, and catalog marketing. RTI was a global business with customers in seventy-three countries and products fully translated into fifteen languages. Island Pacific now has a ready-made distribution to deliver its products globally.” - Michael Tomczak

Technology
Contactless Smart Cards
On Track Innovations Ltd. (OTIV - Nasdaq)
OTI America (Subsidiary)
“We are selling solutions that are based on our hardware and software. The hardware consists of contactless cards, readers and the software consists of different applications we provide. We have one of the strongest backgrounds today in terms of the technology. We have a superior technology that is tested and proven with a low risk from the customer prospective and we provide the customer with a complete solution and not just a component. That eliminates much of the effort from the customer’s side. We have the experience and the intellectual property on how to implement contactless solutions in a real life environment.” - Ohad Bashan

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October 21, 2004
Energy, Healthcare, Technology, Services & Business Services

Energy
Oil and Gas Operations
GeoResources Inc. (GEOI-NASDAQ)
“We produce about thirty thousand barrels of oil a quarter. All of our oil is sold to local crude oil buyers that are located in the Williston Basin, foothills and plains. Because of the demand for oil, it is not hard to find a purchaser. We are not involved in upstream operations or refining. We find and produce the oil and once we have it in tanks, then crude oil buyers pick that up and purchase it from us. In the drilling segment, we contract to other operators or others contract to us for the wells we drill and then drill wells for operators under contract. That is a thirty day invoicing type of procedure much like any other contract business.” - Jeffrey Vickers

Healthcare
Infection-Control Products
ALDA Pharmaceuticals Corp. (APH-TSXV)
“What was attractive to me about ALDA Pharmaceuticals was the fact that it had platform technology called T³6^�. We have a patent pending on that technology and it is a superior infection control technology. The first product from that technology is called Viralex™. It is a surface disinfectant, which has been on the market for a couple of years now. We are finding the product has an enthusiastic response from the customers, but the company was virtually unknown outside our home province of British Columbia and Canada. Our task there is very straightforward; we have to engage in a very effective sales and marketing effort so that we increase our sales of that product. We are seeking expansion into the United States; we have our EPA registration as pending any day now and that will probably take 120 days to review and if all goes well, we could be fully registered in the United States within the year, in all states. That will bring a very large market potential to us as well. What attracted me to it was the fact that there is a product on the market and we have developed spin-offs from that product. ” - Terrance G. Owen

Healthcare
Medical Equipment & Supplies
Bio-Logic Systems Corp. (ALSC: NASDAQ)
Bio-Logic Systems is in an area where we typically have distinct advantages due to the software and hardware technology that we offer, and we have exclusives in some of our product lines which is very important. We have considerable experience in electro-diagnostics across the board in both hearing and screening diagnostics and neurology and sleep diagnostics. At least two out of three of those areas are growing at a pretty decent rate, and we definitely have more growth potential and a high quality balance sheet that investors are buying into.” - Roderick G. Johnson

Technology
Nanotechnology
Arrowhead Research Corporation (ARWR & ARWRW)
We have over 180 patents and patents pending in the nanotech area, which provides us protection for our products and an opportunity to license other people to use some of our technology. Our plan is to expand our intellectual property base in the near future and to accumulate as much intellectual property as we can. We are primarily working with Caltech at this moment. Caltech is the birthplace of nanotechnology. Back in 1959, Richard Feynman gave his famous speech called, ‘There is Plenty of Room at the Bottom’ and that was the starting point of nanotechnology. Caltech files more patents than any other university in the United States. It is an active place and very prolific in producing intellectual property. We plan to expand our model to additional universities but right now our hands are full.” - R. Bruce Stewart

Technology
Computer Services
Packeteer, Inc. (PKTR: NASD)
“We are a company that is focused on application performance over the wide area network and in giving our customers the ability to both improve and protect the performance of their important applications and control non-business traffic. That is the core of what we do. We provide distributed enterprises with visibility into what applications are running on their network, and the ability to control them based on their relative business importance. About a year ago, we added compression to create additional virtual bandwidth, all with the goal of allowing companies to leverage faster WANs, faster applications, and faster business.” - Dave C�t�

Services
CDK Services Ltd. (CDK-TSX: Venture)
“The Company’s patented Emission Eliminator chemical pump for natural gas wells fills a timely market need and there are very real opportunities to significantly grow the sales of the pump. I also believe that sales of the chemical pump are all upside since the current market value of the company is supported by the existing businesses, which are valve and BOP Sales and Service.” - Wayne Thomson

Business Services
Computer Software and Processing
CSM Systems Corp. (CKX-TSXV)
“We believe that the digital world is going to explode. Previously some of the hardware costs have been such where it has been economically unfeasible for companies and governments to start looking at this kind of technology. In the last year alone the prices have fallen about 400% as demand grows. We believe that this type of technology is going to replace what we typically see in retail environments. For example, it is going to be more pervasive. We live in an information age and traditionally it has been based on capital television technology. With the digital displays, it opens the door for a whole realm of possibilities. That is what I think is exciting and enticing about the investment end of things. We are poised to capitalize on it because we have the background in the software end of things.” - John Putters

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October 7, 2004
Consumer Products, Consumer/Cyclical, Basic Materials, Entertainment, Financial & Capital Goods

Consumer Products
Tobacco
Wellstone Filters, Inc. (WLSF – OTC: BB)
We firmly believe that the cigarette market is going to be a commodity market; unlike it has been in the last forty years, where people were very brand loyal. We feel that we can make a return on investment even though we are offering a premium cigarette at a discount price. People will buy our cigarette for the price and they will come back because of the taste.” - Learned J. Hand

Consumer/Cyclical
Personal, Household products
Female Health Company (FHCO-OTC-BB)
“Unfortunately, the HIV/ AIDS issue is getting worse and it isn’t going to go away. There are drugs that help people live longer but there is no simple treatment or cure. There is no preventative vaccine and some scientists think that if there ever is one, it will be years away. We have one of only two products that help to prevent the spread of HIV/AIDS, the female and the male condom, and ours is proprietary. We have a business model that is low risk in that we do not invest in advertising in hope that somebody will buy our product, or manufacture product in the hopes that we can sell it. Beyond the break-even level, we should have a solid and profitable business. However, we expect significant period to period variations, but substantial growth in the long term.” Mr. O. B. Parrish

Basic Materials
Gold
Goldcorp Inc. (GG-NYSE, G-TSX)
“We have a very exciting expansion program going on at our Red Lake Mine, which will take a little more than six months. By the second half of 2006, we will have completed an elevator shaft that will be down 7,200 ft. below surface. It will allow us to increase our production at our Red Lake Mine from 500,000 ounces a year to 700,000 ounces and allow us to drop our cost of production below seventy dollars an ounce. It has a lot of extra capacity built into it. We are excited about that new platform because it will allow us to accelerate our new exploration.” - Robert McEwen

Entertainment
Feature Film and Television Production
OBN Holdings, Inc. (OBNH.OB)
“In July we recently completed producing a television special called ‘From the Heart,” which is a 50^th year anniversary and celebration of the Four Tops singing group. Eclectic Entertainment is producing the concert and the television special. In addition to the television special, which is going to premiere on Omni Broadcasting Network, we are will be offering it to other networks that have already expressed an interest in the special. We will also be selling it to television broadcasters in foreign markets, which we already have interest from to acquire the rights to that particular show. In addition to that, we will be producing a DVD and a CD that we are going to be releasing on Retro Records, another OBN Holdings subsidiary.” - Roger Neal Smith

Financial
Community Banks
Commonwealth National Bank (CWEA-OTCBB)
“We hired highly experienced employees right from the beginning. We do not have people who cannot make decisions. I have been in lending for thirty years and when someone comes in for a loan, it does not take me very long to make a decision in terms of whether or not we want to begin a relationship. In terms of the branches, they are empowered to make a decision. If they need flexibility on an account, CD rate or whatever, they have the authority to make the decision. It is not as if they have to go up two or three levels of command to try and figure out whether they can take care of a particular customer’s needs. I think what we have is a long-term commitment to grow and develop relationships. We are willing to be flexible in the short run, if we think that in the long term, it will benefit us and the customer.” - Charles R. Valade

Financial
Consumer Financial Services
Silverado Financial Inc. (SLVO-OB)
“For us at this point, all of our loans are straight broker and they are sold off to investors, therefore we have no risk on repayment of those loans. As a direct lender, we have some risk but it will only be the first payment risk and through the sure step program on which we are working. We will not have any risk repurchase on those loans, which is the biggest risk for a direct lender in this business.” - John Hartman

Capital Goods
Construction Materials
Structures USA, Inc.
“In the past six months we have moved into a full-scale factory type industrial park and we are continuing on with code approvals for four different products. One is the GigaCrete, which is the building system, anther is called Stuccomax, which is a bullet-proof single-coat, one-application stucco, which has never been done before; we have literally made history with it. It is applied very quickly and dries within a few hours. The installer can then move on to the next, which typically they can’t do; they have to come back two to four times to re-coat the house. The essence behind the whole business program is to build safer and faster with a superior product and then extend that from the building side to the actual finishing that goes on in the structures. Our goal is to go after mass affordable housing on a global basis, not just here in the U.S.” - Andrew Dennis

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September 23, 2004
Services, Energy & Technology

Services
Service Retail
HearUSA, Inc. (AMEX: EAR)
“This is very exciting for us because the administration wants to increase Medicare Managed Care membership by 9 million people bringing the total to 13 million by January 1, 2007. Of the 4.5 million current Medicare Managed Care Members, we have capitation contracts covering 600,000. This represents one third of the members with a hearing aid benefit. Maintaining our percentage (13%) of the new members will generate significant revenue for the company.” - Paul A. Brown, M.D.

Energy
Specialty Chemicals, Hydrocarbon Fluids and Energy Marketing
Enerchem International Inc. (ECH-TSX)
“Enerchem is an oilfield services company providing specialty chemical and hydrocarbon fluid solutions to the oil and gas industry. There are three internal groups inside of Enerchem. The Specialty Chemicals Group manufactures proprietary chemical products. There is the Hydrocarbons Fluids Group, which manufactures drilling fluid, fracturing fluids and specialty solvents and we have the Energy Marketing Group, which was created to reduce feedstock costs, improve byproduct resale margins and to develop a crude oil lease acquisition market.” - Douglas F. Robinson

Services
Communications Services
Q Comm International Inc. (QMM - AMEX)
“The big benefit of our product is that the retail merchant doesn’t have to stock what were called ‘prepaid hard cards’; these were cards that had actual value to them in dollars, $20.00, $30.00, $50.00. Those cards historically have been subject to theft by customers and even employees. They also represented a large inventory carrying cost for the merchant. With our electronic distributions solution we are able to take our terminal, put it in a retail store, have that connect to a data center that we run and allow the whole sales process to be done electronically. Once that merchant sells the product, after the fact we debit their bank account and only after the fact does that happen.” - Terry Kramer

Technology
Communications Equipment
Weida Communications, Inc. (WDAC-OTC: BB)
“Our biggest differentiator is that we are in a niche of which no one else is paying attention. We are the first ones in, the first ones in this category. It is a category, which has been greatly affected by the Chinese government and certain mandates of financial institutions, the Hazardous Recovery programs in-place. Right now, to the best of my knowledge, we are the only ones participating in that with a proven capability that’s already been approved by China Telecom, because it’s a strategic alliance with them to take over their major accounts. We are in a unique position.” - Mitchell Sepaniak

Technology
Computer Services
WindsorTech Inc. (WSRT-OTC: BB)
“Anyone out there that doesn’t think about identity theft, security and environmental compliance for their IT for their computer equipment is really just fooling themselves because these are growing responsibilities. Our mission is to continue to educate businesses, institutions and consumers on how to handle these assets appropriately. ” - Marc Sherman

September 9, 2004
Basic Materials, Technology, Natural Resources & Healthcare

Basic Materials
Reclaimed Industrial Products
International Absorbents Inc. (IAX-AMEX)
“Animal bedding is broken into the two areas of pet market and big boxes/ generic food market. We attacked the pet market first and sell through Petco, Pet Smart; virtually every pet-chain in North America. There is about an eighty million-dollar market for our product in this market segment. We are selling 15-20% of that at this point and over half of that market segment is held by hundreds of manufacturers of wood shavings and similar kinds of products. The other segment of the animal bedding market is big boxes like Wal-Mart, Kmart, Target and regular local grocery stores. We are just entering that market with Wal-Mart and introducing a product called Critter Care. You can buy CareFRESH at pet stores or you can buy Critter Care or HealthyPet at other big stores. That is another eighty million dollar market and you are talking about 160 to 200 million dollar market place for animal bedding in North America.” - Gordon Ellis

Technology
Mobile Satellite
C-COM Satellite Systems, Inc. (CMI-TSXV)
‘The company has a potential upside because this technology is going to be pervasive everywhere, not just in North America, but you will see it all over the world. You will see it practically everywhere where one can have access to either by a vehicle or by rail or even on foot as many of our products can be flown in and dropped off in more and more places. Internet access has become an essential business tool around the world to many people and C-COM is making it possible for companies to conduct business and stay connected anywhere in the world. C-COM, being one of the first to actually deliver this new technology is going to benefit dramatically both from the knowledge that we have acquired and accumulated from 7 years of research and development and from our expertise and ability to design, manufacture, sell and support this product all over the world. There is nobody that can do this on the scale that we are doing it today. The upside is enormous. ” - Leslie Klein, Ph.D.,P.Eng

Technology
Electronic INST. & Controls
NCT Group, Inc. (NCTI-OTC)
“Right now we are focused on communications, specifically through our Artera subsidiary. Artera is the developer of proprietary Internet accelerations and optimization technologies for residential users, small businesses, enterprises, government agencies and service providers. As a “Virtual Bandwidth” solution, Artera Turbo™ routinely achieves speeds equivalent to broadband over standard dial-up (56 Kbs) connections and wireless mobile telephones, a 5X speed improvement. Performance improvements by up to a factor of five are also achieved over ISDN, DSL, T1/E1, cable and even satellite links. When we apply Artera Turbo to broadband networks we reduce bandwidth consumption by 70%-85%, yielding significantly increased network capacity with virtually no capital expenditure. This is very compelling for business networks because the optimization techniques we employ are equally effective for both Internet and private Intranet traffic. Also, for ISPs, Artera technology can be applied simultaneously to the network and used by subscribers which significantly impacts EBITDA per subscriber. This is a very exciting area for our company, and we expect some pretty significant growth in this subsidiary.” - Michael J. Parrella

Natural Resources
Exploration
Serengeti Resources Inc. (SIR-TSXV)
“We needed to differentiate ourselves. I looked around and there are many gold explorers. I think there are fewer copper and gold explorers. Exploration is my strong suit, given my background of thirty years experience. Some of the other people that have come along with me to Serengeti have equally strong and successful backgrounds on the exploration and development front, like George Tikkanen, who has also joined the board of Serengeti. George has over forty years of experience in the mining and exploration business. The key geological consultant that I have working with me, and a partner in the early stage properties, is an expert on copper and gold exploration. Why Serengeti? It is because of the people, our track record of discovery, the strategic focus and a growing portfolio of attractive properties. These factors should heighten the potential for success.” - David Moore

Healthcare
Healthcare Facilities
Assisted Living Concepts Inc. (ASLC-OTC: BB)
“We are now seeing the state and federal governments seeing assisted living as a viable choice, not only in life enrichment, but also from a financial rearranging of the money. ” - Steven Vick

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August 26, 2004
Financial Estate, Financial, Technology, Healthcare, Energy & Mining

Financial Estate
Hotel Management
InnSuites Hospitality Trust (IHT-AMEX)
“We were bloodied up by 9/11 as was the case with many hotels in the hotel industry. We were recovering and then a year ago the Iraq war set us back again. Since October 2003, we have been on a very solid up trend as far as revenues and profitability. Some of the factors that worked against us previously are now working for us. For example, in our industry occupancy is key. After 9/11, in order to maintain our occupancy we had to dramatically lower our rates and that was a double negative in terms of our profitability. Now, after October of 2003, our occupancy has gone up and we have been able to raise our rates. Our occupancies continue to go up as a result of a double benefit is coming toward us. As an example of that, in the first quarter our operating profits were up 28.9% and revenue went up 12.6%. This shows the leverage working in our favor as opposed to what was happening in the three years that it was working against us.” - James Wirth

Financial
Regional Banks
Eastern Virginia Bankshares Inc. (EVBS-NASD)
“Our focus during the last few years has centered around finding ways to take advantage of economies of scale. We have invested in our company to ensure that our operations and technology center are in a state of preparedness in terms of infrastructure and technology to support de novo branching growth opportunities. We will continue to open branches in markets where we see a need for a community bank. We have the infrastructure built to facilitate bringing small banks into our organization, handling their back room operations, and allowing them to retain their local identity. De novo branching is a major initiative in our strategic plan, as we see this is our primary growth vehicle.” - Joe Shearin

Technology
Semiconductors
AMIS Holdings Inc. (AMIS-NASD)
“Our factories are more flexible than you will find in a typical large company in the analog and mixed-signal space. That flexibility requires a competency that is not prevalent in terms of manufacturing in our industry. I think we are unique in that regard and our customers appreciate that. Because we sell into markets such as medical, industrial and automotive, our product life cycles are long and our customers want to have long-term support from us. A standard products company may not be tolerant of that and particularly of being flexible at the same time. That is what we believe is a key value proposition for AMI and something that our customers appreciate.” - David Henry

Healthcare
Biotechnology & Drugs
Bioanalytical Systems, Inc. (BASI: NASD)
“We have a good patent portfolio on our products. We have a lot of innovative work to do, and probably the number one thing for investors to consider is the quality of clients we have. We do provide products and services to virtually all of the top 25 pharmaceutical companies globally and we are very proud of that.” - Peter Kissinger

Energy
Gas and Oil Exploration
Consolidated Energy Inc. (CEIW-OTC)
“If investors look at the energy market, they will quickly see that there is a short and quite possibly, a long-term opportunity for success related to natural gas and coal. Investors can look at the natural gas market over the last several years and see that the natural gas market is strong and will continue to be strong for quite some time. Both of these fuels are going to be stable financial contributors for Consolidated Energy Inc. The licensing of our Clean Coal technology, if you look at the amount of coal that is used globally, and the amount of coal that is in need of a clean coal process, can contribute a staggering amount to the company’s profitability. When CEI is able to license the use of the clean coal technology on a small percentage of the billions upon billions of tons of low rank coal used annually, CEI will realize a substantial annual profit contribution.” - David Guthrie

Mining
Diamonds and Precious Metals
Sudbury Contact Mines Ltd. (SUD-TSX)
As a result of the expansion of the property position, we have a lot of work to do up there and we are currently reviewing the plans for this work. Not only do we have to do further assessments of our two most recent diamond discoveries, but we also have to do target identification work on the additional claims that we have staked as well as drill several promising targets that were identified in earlier work. To date we have only drilled about a third of our high priority targets and that work discovered the two most recent diamond bearing structures.4 There are still many targets, which need to be drilled in this area. We are excited about the fact that we are now identifying multiple diamond-bearing structures in an area that is not remote and is very close to infrastructure.” - Sean Boyd

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August 12, 2004
Energy, Healthcare, Mining & Technology

Energy
Oil/Gas Exploration
Aspen Exploration Corporation (ASPN-OTC: BB)
“I believe we’ve drilled 17 gas wells out of 20 attempts over the last 3� years. That is an 85% success rate, so we have no trouble finding partners and as a matter of fact, I have a waiting list of people who would like to get into some of our wells.” - Bob Cohan

Healthcare
Medical Equipment and Supplies
Cambridge Heart Inc. (CAMH-NASD)
“We are immersed with the medical community, the ICD companies and Medicare regarding the role that Microvolt T-Wave Alternans can play in a large population of people in helping to identify people that are at-risk of sudden death and need to be treated, from those who do not require invasive therapy. In the process of doing what the technology was created for, we set ourselves up in a situation where we can be testing hundreds of thousands if not millions of people a year. Our test costs Medicare about $338.00. The test costs the physician about eighty dollars in disposable products, namely the Microvolt T-Wave Alternans sensors. If you do the math, you can quickly come to the conclusion that in a short time, we can be a very attractive company financially while doing something that is good for the public health as well.” - David Chazanovitz

Healthcare
Biotechnology & Drugs
Vical Incorporated (VICL - NASD)
“We are a product development company that is exclusively focused on developing vaccines for infectious disease and cancer and all of our products are based on our patented DNA technology, which is known as Plasmid DNA Technology. This technology actually does not require handling of the pathogen itself but you actually use just the gene sequences from the pathogen to invoke an immune response. Our focus is vaccines in infectious disease and cancer and we are one of the few vaccine companies in the United States today. We are a company that is dedicated to discovering and developing new vaccines where no vaccines exist and doing it all with a brand new technology which is going to create a paradigm shift in the entire vaccine business.” - Vijay B. Samant

Mining
Gold Exploration
Unigold Inc. (UGD-TSX: Venture)
“The next step for us on our Dominican Republic properties will be to use a combination of exploration techniques to evaluate the known gold mineralization and large hydrothermally altered zones on our Neita property. We have about twenty anomalous areas that require work. On these, we will be doing everything from regional geology to soil geochemistry to trenching and hopefully finishing up with drilling. At the Los Candelones Gold Deposit on which we are focusing, we will also conduct an integrated exploration program but weighted towards drilling to continue to evaluate this mineralized area. We are probably looking at another year of drilling on Los Candelones to fully understand and to start to develop the resource. All indications are that it could be significant.” - John P. Thompson, M. Sc., P. Eng.

Mining
Gold, Copper and Nickel Exploration
Virginia Gold Mines Inc. (VIA – Toronto)
“We already have close to a half a million ounces of gold in resource and a huge potential to add to that resource. The fact that we have lots of partners spending millions on our properties, which means that we are sharing the risk in exploration with other companies, helps us to reduce the risk in exploration. For example our budget this year is $9.2 million, so that makes us the most active explorer in Quebec. Of that $9.2 million, Virginia’s contribution, our cost, will be $2.8 million, so you can see that we have a beautiful leverage. The rest will be financed by partners and by the Quebec government through incentive programs.” - Andre Gaumond

Technology
Computer Services
CGI Holding Corporation (CGIH-OB)
“WebSourced, Inc. is a leader in its space called Search Engine Optimization. It assists client’s websites in achieving a top ten ranking when searches are performed on search engines such as Google, Yahoo, and so forth. Research shows that the majority of people are not willing to look past the first page of results and 98 - 99% of people are not willing to look past the third page of results. So WebSourced helps clients redesign, link and do all the things that need to be done in terms of a website that make it appeal to the search engines and therefore show up in the top ten of search engine results. ” - Gerard Jacobs

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July 29, 2004
Technology, Healthcare & Financial

Technology
Semiconductors
Staktek Holdings Inc. (STAK-NASD)
“We look at our company as the leading supplier of intellectual property and services for miniaturizing memory components. We want to continue our leadership position in this area and, at the same time, expand our products and intellectual property for miniaturizing other widely used components including the complete system. For example, modules: the module market is diverse and large, and we think there are opportunities certainly in aerospace but also in automotive, medical, and commercial modules where our stacking technology could be deployed.” - James Cady

Technology
Entertainment Media
IA Global, Inc. (IAO-AMEX)
“The reason we acquired the core technology from QuikCAT, was so that we could get more access to the larger American market and also the technology could then be deployed worldwide. We have only just completed the acquisition of the core technology so we are still developing our network and we are working with some partners on a worldwide basis to expand the reach of the QuikCAT technology. We do not want it to be just in one area of the world.” - Alan Margerion

Healthcare
Biotechnology and Drugs
Exact Sciences Corporation (EXAS-NASD)
“PreGen-Plus is a test for the early detection of colon cancer and it uses a stool sample from a patient. We isolate human DNA from the stool sample and look for specific mutations and markers that have been associated with colon cancer; if the test is positive, the physician refers the patient to a colonoscopy. If the specimen is negative, the patient should be screened on a regular basis for the rest of his or her life; you usually start screening for colon cancer at age fifty and above. Because it is a DNA based test, it is much different than the other tests that have been historically used for colon cancer screening, which are normally blood tests that are indirect measures for cancer. We are looking for changes in the DNA that are indicative of cancer.” - Don Hardison

Financial
Bank
Wilshire Financial Services Group Inc. (WFSG-NASD)
“In April (2004), the Company sold its specialty servicing subsidiary to Merrill Lynch. That was a $50 million deal, which closed on the April 30, 2004. This means that the Company has one main operating subsidiary, First Bank of Beverly Hills. Because of that, we are going to propose a name change for the holding company so it more closely links to the Bank; The name change will be Beverly Hills Bancorp, a unitary holding company, and a $1.2 billion bank as its major operating subsidiary.” - Joseph W. Kiley III

Financial
Regional Banks
The Wilber Corporation (GIW-AMEX)
“We continue to look at expanding our physical base. In March, we converted a loan production office in Binghamton New York to a full service branch and in April, we opened another loan production office in Kingston New York, which is about 100 miles to the east. We like the model of the loan production office where we can find a good quality lender that is familiar with a particular market, hire him or her and see if we can bring our brand of banking into that market. If we are as successful as we were in the Binghamton area, then we will expand into a full-service office. It is a conservative way to grow because it doesn’t’ cost very much to open a loan production office. If it isn’t successful, although we haven’t had one that hasn’t been, you can shut it down and move on. If you are successful, you move on and create a larger presence. At the same time we have been doing that, we have been active in purchasing branches.” - Alfred S. Whittet

Financial
Regional Banks
Capital Bank Corporation (North Carolina) (CBKN-NSDQ)
“I think we have one of the best franchises in the Southeast. We have excellent bankers in our markets, and they’re all taking care of customers… We have a management team that is diverse in talent and is strongly committed to the long term success of the bank and to a good return for our shareholders.” - B. Grant Yarber

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July 15, 2004
Consumer Cyclical, Basic Materials, Mining & Financial

Consumer Cyclical
Recreational Products
Russ Berrie and Company, Inc. (RUS-NYSE)
“I am very enthusiastic about the potential for this business and I don’t see much in the way of meaningful barriers. I believe that when you operate in a business that is as fragmented as this one is, and there aren’t any major competitors that own more than two or three percent share of the market, at a most fundamental level, the ability to arrive and compete effectively in that kind of a marketplace is very appealing.” - Andrew R. Gatto

Basic Materials
Gold and Silver
Canyon Resources Corp. (CAU-AMEX)
“We are operating a mine in the desert of South Eastern California, and we own 13.7 million ounces of gold in three deposits in Montana, which represents a sizeable asset base for Canyon. We are hoping to be able to bring these projects forward into mine development.” - Richard H. De Voto

Mining
Exploration-zinc, gold and copper
Karmin Exploration Inc. (KAR-TSXV)
“We have the largest unexploited zinc deposit in Brazil, I think it is the second or third in South America. Aripuan� is in the province of Mato Grosso, in central Brazil. We have a new partner, Votorantim, who own the two zinc smelters in the country, and they are looking to develop this mine as a source for this smelter. Base metal mines make a concentrate that is sold to smelters and the smelters main market is the huge Brazilian automotive industry. The Aripuan� project is 24 million tons and it contains zinc, silver, gold and copper.” - William Fisher

Financial
Regional Banks
Gateway Financial Holdings Inc. (GBTS-NASD)
“I think the thing you will see is that our bankers are willing to meet with our customers on holidays, weekends, nights, or early in the morning to have breakfast. They will do whatever is necessary to accommodate the customers’ needs. They will go above and beyond and interact with them socially to help accomplish various things in the community. We have been supportive of a number of community activities; everything from the little theatres to various public events and fireworks for the Fourth of July, and just supporting things in the community to give people a better sense of community.” - D. Ben Berry

Financial
Regional Banks
KNBT Bancorp, Inc. (KNBT-NASD)
World class community banking is about listening to the customer and trying to deliver on a better level of customer service. It is about delivering on a better level of technology and ultimately, meeting our customers needs through a wider-span, super community bank. We know that we are not there yet, but our vision is set high and our mission is to achieve it. That is our goal.” - Scott Fainor

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July 1, 2004
Financial, Technology, Capital Goods, Healthcare & Mining

Finance
Misc. Financial Services
CVF Technologies Corp. (CNV- AMEX)
“The common thread among the companies we chose to invest in is principally environmental and principally early stage when we first get involved with them. We have incubated these companies from the level of an idea in the inventor’s mind, to an actual company that we helped create and develop. Typically there is an environmental thread, so we have companies with air pollution controls and electric vehicle technology. Anything that has to do with the environment is what we typically invest in. We have also invested in some information technology companies where there is a socially interesting aspect to them.” - Jeffrey Dreben

Technology
Computer Networks
Castelle Inc. (CSTL-NASD)
“If you look back at the last two years, the company was trading at 45 cents a share and we have been consistently above three dollars a share in six to nine months, so there has been a significant turnaround in the valuation and exposure of the company. You do not find too many small, medium or large companies that have no debt and have cash. We are generating a profit and we are growing. As I stated before, with FaxPress and our new product, FaxPress Premier, we have an opportunity to grow in this worldwide network fax server market. I think that is a nice opportunity or investment play for someone. We have the ability, we know what we are doing and our mission is to grow in that marketplace. We have experienced two years of growth and it remains to be seen if we will be able to continue, but I think that we will have a good shot at continuing to grow in the network fax server marketplace.” - Scott McDonald

Capital Goods
Aerospace and Defense
Allied Defense Group, Inc. (ADG-AMEX)
“People choose Allied because of our strengths and our potential. For example, we have a very good diversified business model. We have a military and commercial customer base, operate in high growth markets, have proprietary products and intellectual properties, and we have the ability to design and engineer to meet the distinct needs of each customer. These qualities and abilities extend to all six of our subsidiaries and really separate us from other competitors. ” - John G. Meyer, Jr., Major General (Retired)

Healthcare
Biotechnology
Oragenics, Inc. (ONI-NASD)
“Bacteria in your mouth form cavities and there are 300 bacteria in your mouth and one of them is called Streptococcus mutans (S.mutans), it converts sugar into acid, and the acid eats away at the enamel on your teeth and exposes the soft tissue dentin and allows cavities to form. We have a genetically modified S. mutans bacteria that is identical in all respects except for the fact that it is missing the gene that produces acid. It doesn’t produce any acid but it still resides in the same niche in the oral flora. It is going to be one simple application; you go to the dentist office, the dentist will clean your teeth, put a solution in your mouth that you hold in your mouth for a few minutes and that will allow the bacteria to begin to colonize and replace the bacteria that you have in your mouth; it doesn’t affect any other bacteria, only the Streptococcus mutans. Within six months, you should be cavity-free.” - Mento “Chuck” Soponis

Mining
Gold and Silver Exploration
Argentex Mining Corporation (AGXM-OTC)
“Argentex is a junior mining exploration firm with significant holdings in the emerging gold areas of Somuncura Massif and Deseado Massif regions of Argentina. The company has near-term exploration projects, based on existing gold discovery on one of its properties, with longer-term potential to become the exploration leader in the region based on proximity of the holdings to known gold reserves and mineralization.” - Chris Dyakowski

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June 17, 2004
Natural Resources, Services, Financial, Healthcare &Technology

Natural Resources
Mining-Halloysite
Atlas Mining Company (ALMI-OTC)
“Even though Atlas Mining is a small company, we are looking at getting our halloysite clay property into production this year, but we are not going to stop with just that, we are going to move forward and take on other properties and projects. We will continue to grow.” - William Jacobson

Technology
Online Video Rental
GameZnFlix, Inc. (GZFX – OTC: BB)
“The first series of commercials is targeted at the thirty to forty-year-old moms with one or two children. In my opinion it is the women who suffer from “mom can we stop at Blockbuster and get a videogame.” I believe that stay-at-home moms are by far the most hard-working, underpaid people in the world; they put more hours in than any person that goes out to work. There are those nice single moms who run their home and go to work at the same time and God bless them all for that. I have more respect for a working mom than anyone on the face of the earth. If she is a working mom with several children maybe, then this is just one more source of aggravation. Our commercial with Dennis Cole is directed at that mom, trying to make her life a little bit easier and that is our first market. - John Fleming

Services
Real Estate Operations
United Dominion Realty Trust Inc. (UDR-NYSE)
“I think real estate is a very secure, safe investment particularly apartments since one out of every three people in America live in some type of rental property. It does not go out of style and it is not replaced by technology; it is a safe way to invest. We operate in one segment that is probably the most predictable and safest of all real estate investments and that is apartments. We focus even further in the middle market, which is a segment of the business. Third, we are focused on operations as our value added. We are not a builder, which is fun and exciting but risky. We are focused on buying existing communities and running them better than the ones before; we believe that through our systems and our people that we can do that and we have a track record of doing that.” - Thomas Toomey

Services
School Industry
Touchstone Applied Science Associates, Inc. (TASA – OTC)
“In the first quarter of the year, we had a big increase in revenues…. On the proprietary side, we shipped our English proficiency assessments to the states of Arkansas, Missouri and Rhode Island…. On the custom testing side, we had a big order backlog from last year. Now we are getting multi-year contracts. Going into this year, we had a backlog of business that equated to all of last year’s business. We anticipate increases throughout the year….” - Andrew Simon

Services
Sports Recreation
Bentley Sports, Inc. (BESR - OTC/Pinksheets)
“The major advancements in technology have helped us apply the benefits of technology in body motion systems to a consumer based product in the sporting world. This has never been done before. The motion analysis technology of the past has been for the biomechanical labs, in other words, very complex and expensive equipment built specifically for the medical field. Our company took these technologies and with our outstanding team of specialists, programmers and designers have taken what we needed from these technologies and made them specific to the sport of choice. We have taken a very complex system and made it user friendly so that a PGA professional or snow sport instructor can use it with minimal difficulty and concentrate on working with his student using an objective learning programs.” - Michael Bentley

Financial
Regional Banks
Carolina Bank Holdings, Inc. (CLBH-NASD)
“We are performing at or above peer group level in earnings, growth, and the quality of our loan portfolio is much better than our peers, both regionally and nationally, save a few exceptions. We are clearly in the top one or two percent and as long as we are performing at that level, we feel that we have no need to sell out because we are achieving our goals. As I mentioned earlier, with the 91% increase in revenue last year, up 50% in the first quarter, very few banks are going to be able to achieve those consistent results, and that is our goal to do so. I cannot promise or give guidance that it will increase our earnings 50% this year, but they are going to be up noticeably over the last. That takes the pressure off in trying to sell out. We also know that our balance sheet is very asset sensitive. By that I mean that as interest rates increase, our income will increase relatively rapidly for about twelve to fifteen months until the pricing on our deposits catch up. By that very function, our level of income will go up materially faster and more than many of our peers who are not as asset sensitive as we are. That has been our strategy that we think is in our best interest. ” - Robert T. Braswell

Healthcare
Biotech and Drugs
Symbollon Pharmaceuticals Inc. (SYMBA-OTC)
There are other companies that are initiating programs for compounds to treat fibrocystic breast disease; however, Symbollon is certainly in the lead and has been out in the forefront in developing IoGen™. Fibrocystic breast disease certainly represents an unmet market need, and I believe that when the proper pharmaceutical is delivered to the marketplace, people will begin to realize how many women are in need of treatment.” - - Paul Desjourdy

Technology
Computer Services
SumTotal Systems Inc. (SUMT-NASD)
“We’ve set ourselves apart from competitors with two times the revenue of the nearest one, three times the customer base, two or three times the R&D and support staffs of other companies and we operate globally. We are now playing in almost, if not all, the major projects around the globe. ” - R. Andrew Eckert

Technologies
Electronics Instruction & Controls
RF Monolithics, Inc. (RFMI-NASD)
“There is very strong growth right now out of the communications product group, especially the filters, which has been driven by satellite radio growth. We’ve designed in filters for both satellite service providers. The satellite radio subscriber rate is growing very strongly. That is probably our strongest growth followed very closely by the Virtual Wire� product family, which is driven by the automated meter reading market. These are the strong drivers at this particular time.” - David M. Kirk

June 3, 2004
Financial, Technology, Natural Resources & Capital Goods

Financial
Regional Banks
Community Bankshares Inc. (SCB-AMEX)
“We try to synthesize the advantage of size and keep the character of local community banking alive and well through a multi-bank holding company business model. We have four banks and a mortgage company, each with their own officers and their own directors. At the corporate level, we provide general guidance but mostly we provide technical services, such as data processing, item processing, internal auditing, compliance and shareholder services. We take care of the banks so that the banks can take care of the local customers. It has worked well for us and it gives us a much better marketing strategy than our larger competitors because our customers want a direct personal connection to their local bank and banker. Our other big advantage is that we have some tremendous talent on our individual bank boards, which would be hard to come by if we were simply a standalone community bank.” - William Traynham

Technology
Machining
AmeriChip International Inc. (ACHI.OB)
“Our market potential just in automotive, even though we affect aircraft and heavy equipment like tractor building, is 250 million. The part of the market that we decided to go after was automotive, and if I just laser the parts for other people and let them make the parts our market potential would be $250 million annually. If I manufacture the parts and deliver the parts as a low-cost producer, then my market potential is over a billion dollars a year just in automotive and just in North America. Then there is the European market, where we currently have consultants for a company that we can purchase.” - Marc Walther

Technology
Telematics
AirIQ Inc. (IQ-Toronto)
“There are several factors that make this the right time to go after the consumer Telematics market. First, there is a growing recognition, which I will call, security in all forms, whether that is driven by 9/11 or otherwise, there is an increased consciousness for security. Secondly, the underlying technology components of our systems are now at a point where the consumer economics work. Several years ago a trucking company might have been able to afford a device that cost twelve hundred dollars, but a consumer wouldn’t. Thirdly, I think there is a general appreciation for this type of technology. There is a consumer awareness of the Global Positioning System (GPS), which is our location technology, and what it can do. There is a confidence, trust and awareness that this type of technology can now be applied to consumer vehicles.” - Donald E. Simmonds

Capital Goods
Construction
Wireless Facilities Inc. (WFII-NASD)
“With our technical expertise and strong customer relationship we believe we are uniquely positioned as the largest pure-play RF engineering company in the U.S. and maybe in the world to take advantage of this wireless industry growth curve that we believe we are on.” - Eric M. DeMarco

Financial
Regional Banks
Interchange Financial Services Corporation (IFCJ-NASD)
“The key to conducting our business is to bring the customer the Interchange experience, which I define as efficient, friendly, courteous service. We have practiced those principles since day one and I have drilled it into everyone. I continually reinforce our differentiators and that is what separates us from everybody else.” - Anthony S. Abbate

May 20, 2004
Consumer, Consumer Non-Cyclical, Healthcare, Financial & Technology

Consumer
Personal Care Services
Medical Makeover Corporation of America (MMAM-OTC: BB)
“Our vision is to capitalize upon the industry and the demographics, to build a comprehensive approach to helping people improve their appearance. This comprehensive approach includes plastic surgery, cosmetic dermatology, cosmetic dentistry as well as hair makeup and fashion advice so that you can create a new physical appearance for yourself. Our strategy is to form comprehensive teams; we are Beta testing this in the South Florida marketplace and as we develop our brand, we will extend this nationally.” - Walter E. Birch

Healthcare
Orthodontics
TC Orthodontic Lab (Privately held)
“The Truax Correctors are removable functional/orthopedic appliances. The TC II appliance will correct large overjets, overbites and TMD. The TC III appliances will correct large underbites (Class III malocclusion). Surgery is seldom necessary.” - Lloyd H. Truax, DDS, MSD

Consumer Non-Cyclical
Personal and Household Products
Imagenetix Inc. (IAGX.OB)
“There are multiple reasons why we conduct first class clinical studies. One, scientific credibility; One can always get testimonials on any type of compound or product, particularly in the natural arena. If you subject your product to a well designed, double blinded placebo study your product has specifically validated health benefits. These type of studies Imagenetix conducts are the gold standard clinical and medical type, again which are double blind, placebo controlled and conducted in a top university setting, then published in premier medical, peer reviewed journals. Also these studies when done right provide the consumer and our clients with justifiable confidence in the product. For example, a leading Pharma Company in India Cipla Ltd. (NSE: CIPLA) will be selling a topical cream and pills using our Celadrin� compound as a prescriptive drug to medical doctors and pharmacies throughout India. Great science leads to the generation of new clients and expanding channels of distribution.” - William P. Spencer

Financial
Insurance (Life)
Citizens, Inc. (CIA-NYSE)
“We approach the sale of life insurance from a slightly different perspective than most life insurance companies. The problem people will face during their later years in life is the fact that we are all living longer and we will need to have an income when we can no longer work to earn an income. Citizens designs its products to provide an income that cannot be outlived. Our products emphasize living benefits. The most important part of the life insurance equation is the living benefit. Living benefits help the majority of the people who buy life insurance because eighty-five of one hundred who reach age sixty-five will need the return of their money, not a death benefit. By concentrating our product development energies toward the eighty-five percent of the population who will be living beyond the traditional retirement age, Citizens’ products benefit the majority.” - Rick Riley

Technology
Software and Programming
Smith Micro Software, Inc. (SMSI-NASD)
“In the wireless space, which is our lead focus area, we have been very fortunate to be able to get some of the big names in that market place to be our customers. We focus hard, we have a great product and we are recognized for that. We grow by helping our customers grow. The wireless data market is still a very early stage young market. Verizon Wireless, our largest customer, is the leader in this market and as they continue to grow, we grow. We also are looking at other customers coming on board as more and more service providers see the wisdom of offering data services.” - William W. Smith, Jr.

May 6, 2004
Services, Healthcare, Financial, Basic Materials, Technology & Telecommunications

Services
Business Services
MTC Technologies Inc. (MTCT-NASD)
“The reason that we have been successful is that we always pay very careful attention to the needs of the customer. Our company vision and the training we provide our people are geared toward amazing the customer with the level of service that we give them. It starts with the selection of the people; we look hard to find the people that have the right background and qualifications for the job, and in many cases, that means a very particular type of expertise.” - David Gutridge

Healthcare
Medical Equipment
Ingen Technologies Inc. (CRTZ.PK)
“Ingen Technologies offers an investment opportunity that is unique. You have a company that has liquidity with a medical device that is patented and in production, with a vast market opportunity.” - Scott R. Sand

Healthcare
Biotechnology
Oscient Pharmaceuticals Corporation (GENE-NASDAQ)
“The vision that we had for the company was to create a pharmaceutical business. The company built a great track-record in genomics-based target discovery during the 1990’s, and parlayed that scientific capability into a number of successful alliances with major pharmaceutical companies. During the last three years, the company has taken the next step to focus on developing and marketing products of its own. Today, that is the chief mission of the company.” - Steven M. Rauscher

Financial
Regional Banks
WGNB Corp. (WGNB-NASD)
“According to U.S Banker Magazine, we are the 16^th highest performing, publicly traded financial institution under one billion in assets in the nation. Over a five year period, our return on assets has averaged 1.52% while our peers averaged 1.31%. The company’s five year average return on equity is 16.35% and our peers are 13.63%. Over the last five years, dividends have increased an average of sixteen percent a year and continue to do well. Our management of the balance sheet has enabled us to maintain an excellent interest rate spread.” - L. Leighton Alston

Basic Materials
Misc. Fabricated Products
Super Vision International Inc. (SUPVA-NASD)
I think we are looking at an exciting time in the LED and lighting industry as a whole. A change like this doesn’t take place more than once a century. Super Vision has the key foundational position both from a patent and a product standpoint. With an investment in Super Vision they can participate in the tremendous growth of this industry.” - Brett Kingstone

Technology
Computer Services
InstaPay Systems Inc. (IPYS-OTC: BB)
”So far, we don’t see competition on the horizon for what we are doing. I think many of the larger companies in the industry have held back and thought that enabling debit transactions for Internet merchants is thinking out of the box, and they have decided to let someone else do it first. I am optimistic that we have a long lead on all the potential competitors, plus we have all of our patents, so I think the potential competitors are more likely to partner with us. I am not too worried about the competition.” - Harry Hargens

Telecommunications
Narrowband/Broadband Data
SkyLynx Communications, Inc. (SKYC-OTC)
“It doesn’t sound like much but our system is probably thirty percent of the original cost for a satellite system and an equal cost for a cellular based system. The per-minute usage is comparable to cellular; we are about 70% cheaper than a satellite based system.” - Gary Brown

April 23, 2004
Mining, Technology, Healthcare & Environmental Technologies

Mining
Diamond Exploration
Diamond Discoveries International Corporation (DMDD-OTC)
“It was because of this discovery of diamonds in the Canadian shield of Northern Canada that there has been a great influx of diamond exploration in Canada by Canadian companies. There has been a great exchange of technical information between companies; Canadian junior companies are required to release all their technical information. There has been a great influx of knowledge about how diamonds occur, what to look for, how they are found and the technology has blossomed since 1998. Because of that, in Canada there has been a big growth in the diamond industry. I think Diamond Discoveries is one of the few of the North American OTC companies that are actually into the diamond exploration field.” - John Kowalchuk

Technology
Electronic Instruments & Controls
Merix Corp. (MERX-NASD)
“The vision that we established for the company when I took over was to become the premiere high technology printed circuit board supplier to leading OEMs on a global basis. While it has been difficult the last couple of years, I think we have executed on our strategy, continued to grow our customer base and continued to be recognized as a leading provider of high technology printed circuit boards.” - Mark Hollinger

Healthcare
Medical Equipment & Supplies
Dynatronics Corporation (DYNT – NASD)
“In September 2003, Dynatronics introduced its new line of Solaris Light Therapy products. These units offer infrared light therapy that can be plugged into a combination electrotherapy/ultrasound therapy unit and used for pain management and wound healing.” - Kelvyn H. Cullimore, Jr.

Healthcare
Services
The Quantum Group, Inc. (QTUM-OTC: BB)
“Our goal is to improve the quality of care. Many consumers are confused in thinking that expensive or unlimited care is better quality care. Most research facilities have found that not to be true. We, as a country, spend up to 50% more on a per capita basis than other developed countries that have by most standards, a better healthcare system, if you consider lifespan, infant mortality, over-all wellness and lifestyle as the qualifying factors. We spend the most money but we do not have the best system. We, in The Quantum Group, believe that being more proactive and connected, by connecting the managed care organization to the physician to the patient, that we will be able to provide better healthcare for our patients or the patients of our clients at a lower cost.” - Noel J. Guillama

Environmental Technologies
Industrial Products
ENPAR Technologies Inc. (ENP – Toronto Venture)
“Our systems for treating drinking water and wastewater have many advantages. Let me start with our DesEl System for desalinating seawater and removing dissolved inorganic contaminants from brackish water. With conventional approaches like reverse osmosis, for every ten gallons of water processed you may be lucky to recover five gallons of clean water while the remaining five gallons or more requires disposal. Our system consistently recovers more than nine gallons of clean water for every ten gallons treated, so you get a greatly improved recovery of water. The major cost is pumping that water, especially if it is ground water, so it is critical that as much clean water is recovered by the system as possible.” - Dr. Gene Shelp

April 8, 2004
Healthcare, Mining, Technology & Consumer Products

Healthcare
Eye care Services
Eye Care International, Inc. (EYCI-OTC)
“Through a lot of trial and error, diligence and effort, we were able to essentially sign up roughly 50% of the most prestigious eye surgeons in the United States, to ECI’s discount model on an exclusive basis. We also have about 50% of all the optometric facilities on a non-exclusive basis. It makes us the largest discount vision network in the United States, and the only national discount network having ophthalmologist discount services including the electives. That was the vision, to bring the cost of eyecare down and service the population” Clark A. Marcus

Healthcare
Medical Equipment & Supply
Trimedyne, Inc. (TMED-OTC)
“We have developed superb, patented products that address extremely large, multi-billion dollar markets in healthcare. Our products have been cleared for sale by the FDA, and are used in minimally invasive procedures, which are rapidly replacing conventional surgery. Most importantly, we have demonstrated that we can operate profitably.” - Marvin P. Loeb, Sc.D.

Mining
Gold Exploration
Canarc Resource Corp. (CRCUF.OB - OTC: BB) (CCM – Toronto)
“I think Canarc has all it needs in its property portfolio now, for a major gain in its share price, through our discovery and development of a gold mine in South America and through the geological work and construction of a high grade mine at New Polaris in northern British Columbia. These two projects alone should drive our shares significantly going forward.” - Bradford Cooke

Technology
Mobile Computing
AP Henderson Group (The Company) (APHG-OTC)
Slide View Corp. (The Subsidiary)
“We are in a hundred billion dollar market; we are the only company out there with intellectual property, securing this type of a concept of offering more panels in a view. We feel with our intellectual property, and potential rolling out our prototype, that we will step foot into into this segment, that we hope to capture a piece of that marketplace. With that market segment growing rapidly, we feel that a new product, offering a new solution to the up and coming multi-tasking, which has grown from infancy in 1998, to a relative in a five billion dollar market segment today, that we should be able to capture a potentially substantial piece of that market.” - Daniel Duquette

Consumer Products - Wine
Knightsbridge Fine Wines, Inc. (KFWI-OTC)
“Investors should realize that a company that becomes involved with Knightsbridge could dramatically increase their distribution on a global and national basis with the best sales team from the industry. Each member of our senior management in sales and marketing has a long resume of success of brands that they have created from nothing or brands that they have taken over and brought to million-case level sales volume. That is unique within the industry.” - Jake Shapiro

March 25, 2004
Financial, Technology, Energy & Services

Financial
Regional Banks
Peoples Financial Corporation (PFBX-NASD)
“You can’t have too much capital; I guess I inherited that from my father and my grandfather. Last year, when we did the interview, our primary capital average assets were about 15.3%. This year at year-end, it was 15.84%. Some of that was due to the fact that we had a good year. I think it can also be attributable to the fact that the economy is truly getting better down here, which I think is a good thing.” - Chevis C. Swetman

Financial
Banking
Franklin American Mortgage Company (Privately-Held)
“We are here to stay. We have a strong balance sheet and we are only going to get better. Even in the market that we are in right now, we are still nicely profitable and we are going to continue to be. I think we are going to have a wonderful year in 2004 when the industry is projected to be down as much as 65% over last year. I think we are still going to have a very nice, comfortable, solid year at Franklin American Mortgage.” - Dan Crockett

Technology
Communications Equipment
ADDvantage Technologies Group Inc. (AEY-AMEX)
”Over the last two years, with the transformation of our business, TULSAT has become a “Value Added Reseller” (VAR) of Scientific-Atlanta (NYSE: SFA) and Motorola (MOT) broadband products. TULSAT is an exclusive Scientific-Atlanta Master Distributor for certain legacy products and distributes most of their other products. TULSAT has been designated an authorized third party Scientific-Atlanta repair center for selected products. Another subsidiary, NCS Industries, is a leading distributor of Motorola broadband products. Other subsidiaries distribute several additional products along with operating repair centers for OEM equipment used in the “CATV” industry.” - Kenneth Chymiak

Energy
Oil and Gas Exploration
Whittier Energy Corporation (WHIT-OTC)
“I think investors should look at our recent history and our growth. When considering making an investment, they should look carefully at the management team. In our case, we have a close-knit management group of three people, who are highly qualified, energetic, and have the business experience necessary to successfully execute the company’s strategy. We have demonstrated our ability to do so over the last two years, and have every expectation of continuing down this path. We have been able to add new reserves to the company and add value for the shareholders. The company has a unique history in terms of its predecessors and with the Whittier family having been active in the oil industry since the late 1800’s. Whittier has a very good reputation and we expect to maintain it and carry it forward.” - Bryce W. Rhodes

Energy
Oil and Gas Operations
World Fuel Services Corporation (INT-NYSE)
“In the marine market, we are the largest buyer and seller of marine fuel in the world. Nobody buys or sells more than we do, not even specific major oil companies. As a group, they buy and sell more than we do, but not individually. In aviation we are among the top ten sellers and top five buyers globally. As one of the biggest buyers and sellers of both marine and aviation fuels; if you put the two types of fuel together we are clearly one of the very largest buyers and sellers of such fuels in the world.” - Francis X. Shea

Services
Personal Services
Childtime Learning Centers Inc. (CTIM-NASD)
“We believe that our focus on excellence along with our proprietary curriculum gives us a competitive advantage in the market place. We also are the only national childcare chain with a model that includes both corporate and franchise locations. This allows us to leverage our infrastructure to provide our franchisees more support than in a pure franchising operation. The corporate/franchise model also gives us more growth potential than a normal corporate operation because we have the ability to have individual owner/operators expanding in markets.” - William Davis

March 11, 2004
Technology, Energy & Financial

Technology
Marine Treasure
Ruby Mining Company (RUBM.OB)
“We have spent much time and money developing this technology over a number of years and have now developed a technology that can tell the difference between gold, silver, copper, aluminum, etc. There are a number of technologies generally known as magnetometers that can tell you whether or not something is a ferrous or non-ferrous metal. There is no other technology that we know of, and we certainly have looked, that can tell you whether something is gold or silver.” - Howard Collingwood

Energy
Oil and Gas Producers
Celtic Exploration Ltd. (CLT-Toronto Stock Exchange)
“The way we choose properties is not geographically but more on how much upside we think there is in the area and the property. If we do an acquisition, we don’t do it to just add production to become bigger, but we do the acquisition because we think we can get the property producing two or three times as much as it is currently. Two or three years later, instead of producing two or three hundred barrels a day from the new property, we hope to be at five hundred or a thousand. We have been able to do that for the most part on anything that we have purchased.” - David J. Wilson

Financial
Community Banks
Oregon Pacific Bancorp (OPBP-OTC)
“Firstly, our customers receive immediate attention; because every one of our branches has a reception desk right in front of the front door and that desk is always manned with somebody who has been with the bank for a number of years and has some experience. That person will then direct them where they need to go with service. We don’t point them toward a telephone with an 800 number, which is what many of the larger banks do today. If we have somebody that needs service from our trust department, which is in the back of the Florence facility, we don’t point a finger and show them where to go, we call the trust person and they come out and greet them and take them back to their office.” - Tom Grove

February 26, 2004
Consumer Cyclical, Financial, Computer Software & Healthcare

Consumer Cyclical
Apparel/Accessories
The Leather Factory Inc. (AMEX: TLF)
“We like revenue growth, earnings growth, and cash flow. We like to make money and put cash in the bank. Over the last several years, we have been able to accomplish all of those things while expanding. In addition, we have a quality management team with high ethical standards committed to running a solid, stable company.” - Shannon Greene

Financial
Community Bank
Michigan Heritage Bancorp Inc. (MHBC.OB)
“In 1997, we began as a community bank at a time when other banks were merging and becoming larger or actually going away because the big banks were gobbling them up. We felt there was a need for a smaller community bank to fill the void the larger banks left. We have actually done that over the last six-and-a-half years that we have been in business. Our IPO along with a few other local banks that went public during that time period have created a good relationship with various customers who are not being serviced properly by the larger out-of-state banks. At this point, I think we have done a good job in providing that service.” - Anthony S. Albanese

Computer Software
Interactive Entertainment
Games, Inc. (GMSI - OTC: BB)
“We look at the company and we see a very high visibility in its brands and a high potential in the state lottery business and that is why we have put so much of our own personal money into the company. ” - Roger Ach

Healthcare
Biotechnology
InNexus Biotechnology Inc. (IXS-Toronto: Venture)
“Over the last 30 years, it has been proven that you can make drugs from