VerticalNet Inc., DynaGen, Inc., Star Scientific,
and Celerity Systems, Inc.
NOTE TO EDITORS: The following is an investment opinion issued
WESTON, Fla.--(BUSINESS WIRE)--April 30, 2001--TheSUBWAY.com
releases the following investment opinions on iToo Corp.com
(OTCBB:ITOO), VerticalNet Inc. (Nasdaq:VERT), DynaGen, Inc.
(OTCBB:DYGN), Star Scientific Inc. (Nasdaq:STSI) and Celerity Systems,
iToo Corp.com (OTCBB:ITOO)
Previous Close Up 25% to .20 on volume 164,900
iToo Corp.com (OTCBB:ITOO) just announced an update to the Nevada
Legislation. Nevada Internet Gaming Bill AB296 Is Incorporated Into
Companion Bill AB578 And Off To The Senate. ITOO has the inside track
as Assemblywoman Merle Berman, R-Las Vegas, said she introduced the
bill because she wants Nevada to be the first state to offer legal
Internet gaming, just as it was the first state to legalize gaming,
which occurred in 1931.
ITOO is new to TheSUBWAY.com, and CRG is expecting good things
from the company. CRG expects to see the stock trading over the $1.00
mark in the short term.
The Nevada internet gaming bill just cleared the first big hurdle
for i2Corp.com. Legalization will open a major US jurisdiction to
i2corp.com's HGN method of wagering. The Bill will be subject to a
floor vote this week and will then pass over to the Senate side of the
Richard Fitzpatrick, director of the Internet Business Alliance of
Nevada (IBAN), said: "That the first online casino gaming in Nevada
would probably consist of live broadcasts of table games using video
streaming, whereby digital TV images are beamed directly to home or
VerticalNet, Inc. (Nasdaq:VERT)
Previous Close: Down 6% to $1.88 on vol. 1,534,500
VerticalNet Inc. (Nasdaq:VERT) announced an agreement with
Microsoft Corp. that will direct significant resources towards the
development, marketing and support of an enhanced set of VerticalNet's
hosted supplier enablement product offerings for medium and small
businesses. VerticalNet will combine its rich supplier network base
with the Microsoft platform, and Microsoft bCentral small business
hosted applications, to deliver on its plan to become the leader in
the creation of private marketplaces that connect large buyers to
networks of enabled suppliers.
This new agreement coincides with the strategic roadmap laid out
by VerticalNet for becoming a leader in the creation of private
marketplaces that connect large buyers to networks of enabled
suppliers. VerticalNet is leveraging its heritage and core technology
assets to capitalize on enterprises' needs for supplier enablement, a
market that has been largely ignored by buy-side and e-marketplace
vendors. Unlike other B2B e-commerce software providers who primarily
focus on buyers' needs, VerticalNet has proven expertise in providing
value to commerce-enabled suppliers.
VerticalNet also recently announced its financial results for the
quarter ended March 31, 2001, reporting year-over-year triple-digit
growth and restating its intent to reach positive cash earnings by the
fourth quarter of 2001. "We are pleased to have beaten projections for
the quarter despite the current economic environment and we have taken
actions to aggressively reduce expenses to ensure that we meet our
goal of attaining positive quarterly cash earnings this year. We
remain an agile business that has proven its ability to quickly and
successfully react to evolving market and customer needs. I look
forward to executing our vision to become the leading creator of
private marketplaces that connect large buyers to networks of enabled
suppliers," stated VerticalNet's President and CEO Mike Hagan.
DynaGen, Inc. (OTCBB:DYGN)
Previous Close: Up 25% to $0.29 on vol. 2,213,900
DynaGen Inc. (OTCBB:DYGN) announced its wholly-owned subsidiary,
Able Laboratories, has commenced shipment of Methylphenidate tablets -
the generic equivalent of Novartis' Ritalin(R). DynaGen immediately
began manufacturing the drug, which has an estimated $185 million
market, at Able Laboratories following its April 3, 2001 receipt from
the Food and Drug Administration (FDA) of its Abbreviated New Drug
"We have been receiving considerable interest in the marketplace
for our new product and have begun answering these demands by shipping
the product in a rapid manner," stated C. Robert Cusick, Chairman and
Chief Executive Officer of DynaGen, Inc. "Our ability to implement
shipping of this product so quickly after receiving approval shows how
our investments in our manufacturing facilities are paying off and
allowing us to quickly produce and ship new products."
DynaGen, Inc. is a rapidly growing developer and manufacturer of
generic pharmaceuticals. The focus of the Company is to develop
products that offer attractive market opportunities within selected
niche markets of the generic drug industry. In addition to the five
products it is currently selling, the Company has thirteen products at
various stages of FDA approval. The Company has recently completed its
transition from a manufacturing and distribution company into a sole
development and manufacturing entity. As part of the Company's
commitment to its new strategic focus, the Company will change its
name from DynaGen, Inc. to Able Laboratories, Inc. shortly.
Star Scientific, Inc. (Nasdaq:STSI)
Previous Close: Up 137% to $3.25 on vol. 1,176,000
Star Scientific Inc. (Nasdaq:STSI) announced the execution of a
series of multi-year contracts with Brown & Williamson Tobacco
Corporation ("B&W")1. Under the contracts, B&W will continue to
purchase at least 15 million pounds of very low-TSNA2 StarCured(TM)
tobacco leaf during each of the next three years through Star
Scientific's StarCured(TM) tobacco farmers' curing program, with the
right to continue to purchase additional StarCured(TM) tobacco after
the initial three-year period.
The flagship hard tobacco product that Star plans to introduce,
brand-named ARIVA(TM), has been developed to meet the needs of adult
smokers when they are in smoke-free environments. ARIVA(TM) also is
directed to conventional smokeless product users who want the option
of choosing a smokeless tobacco product that contains less
cancer-causing toxins (TSNAs) than conventional products, while
avoiding the need to expectorate. The compressed tobacco
"cigalett"(TM) pellets can provide this alternative in the workplace,
during travel and in other environments.
Management believes Star will be the first company in the U.S. to
manufacture a tobacco product in childproof packaging. ARIVA's(TM)
production will be coordinated through Star's Chase City, Virginia
tobacco processing facility. Finally, Mr. Williams noted that Star was
gratified that B&W has committed to continue significant purchases of
StarCured(TM) tobacco over the next three years, with the right to
purchase additional StarCured(TM) tobacco after that initial period.
Those tobacco supply commitments fortify Star's key relationships with
the participating StarCured(TM) tobacco farmers who have been crucial
to the company's ability to change dramatically the way tobacco is
processed in the United States.
Celerity Systems, Inc. (OTCBB:CLRT)
Previous Close: Up 19% to $0.22 on vol. 1,287,700
Celerity Systems, Inc. (OTCBB:CLRT) announced that it has been
selected by the Ohio School Facilities Commission (OSFC) to provide a
Digital Education System (DES) for the Avon Lake High School facility.
The system will include one Celerity CTL 9500(TM) Digital Video Server
and approximately 100 Celerity T 6000(TM) Digital Set Top Boxes, as
well as other related hardware and software. The sale is valued at
approximately $175,000 and was once again made by Kidston
Communications, a national distributor for Celerity which is
especially strong in Ohio and the Midwest.
"Ohio, through the Ohio School Facilities Commission, continues to
play a leadership role in the adoption of modern digital technologies
for student education and staff training," said Kenneth Van Meter,
President and CEO of Celerity. "We are honored to be selected once
again to provide the hardware and software system for Avon Lake High
School. I don't know of any technology that is better poised to
significantly improve the quality and quantity of educational
materials and content than digital video, and we feel that our system
offers great value to schools like Avon Lake."
"The Commerce Department's preliminary reading on GDP was taken by
many analysts as the best indication to date that the economy will be
able to stave off dipping into a recession. Accordingly, expectations
of further aggressive rate cuts from the Federal Reserve are waning.
The Fed next meets on May 15 to mull over monetary policy, with many
prognosticators shifting rate cut predictions from a more aggressive
50-basis-point cut, to a more moderate 25-basis-point forecast,"
stated Peter Antipatis. More is available at http://www.TheSUBWAY.com
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All material herein was prepared by Capital Research Group, Inc.
(CRG) based upon information supplied by the company or other sources
believed to be reliable. The information contained herein is not
guaranteed by CRG to be accurate, and should not be considered to be
all-inclusive. The companies that are discussed in this opinion have
not approved the statements made in this opinion. This opinion
contains forward-looking statements that involve risks and
uncertainties. A company's actual results could differ materially from
those described in any forward-looking statements or announcements
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third party shareholders or with cash from the company on behalf of
one or more of the companies mentioned in this opinion. (450,000 ITOO)
CRG intends to sell its shares. CRG has sold approximately 100,000
ITOO shares to date. CRG may sell its shares for less than the target
price given in this opinion. CRG's affiliates, officers, directors and
employees may also have bought or may buy the shares discussed in this
opinion and may profit in the event those shares rise in value. CRG
will not advise as to when it decides to sell and does not and will
not offer any opinion as to when others should sell; each investor
must make that decision based on his or her judgment of the market.
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