To OTC Journal Members:
 

Amnis Systems (OTC BB: AMNM): Could This Be Reincarnated Reincarnation?

Amnis Systems is back in the news today, and the story gets crazier by the minute. Last week I had to report bad news. This week I have good news to report.

My expectations for Amnis in the beginning of the year were far different from the way things have turned out. I expected the company to raise more capital, restructure its long term debt, and announce some big contract signings. Last week Amnis blind sided all us with a complete reversal, and announced the company was getting out of the video streaming technology business. The only silver lining in an otherwise dark sky was Amnis not announcing any bankruptcy plans. Apparently, they had already laid the ground work to head in another direction.

The stock swooned after the news came out, and traded down below one penny. I'm sure many of you sold with an eye towards taking your loss and moving on. I got several emails from members who were brave enough to roll the dice and bought the stock below one cent.

Today, Amnis let the cat out of the bag on what they no doubt had planned from the beginning. The company announced it had signed a letter of intent to acquire a new company in the Wi-Fi business, Corridor Communications. As many of you know, Wi-Fi is an arena I am very fond of. I love any industry sector that is projected to grow 10 fold over the next three years.

Therefore, I am wondering if this is a reincarnation of a reincarnation. Amnis seems cat like- it has nine lives. It refuses to die. This is the third time I have included the turn around graphic. I was right the first time, wrong the second, and the jury is still out on the third.

The stock will no doubt rebound a penny or two, and we'll see where things go from there once all the facts are known. Those who chose to stay in now have a chance. Those high risk takers willing to act quickly could enjoy a great trade.

Just like the New England Patriots with 1:10 to play, the game is far from over. Click here to read the entire text of the press release.
 

HyperDynamics (OTC BB: HYPD) - News After the Close

HyperDynamics was out with news after the close today, and it's the first news we have had out of the company in quite some time. I still believe this is one of the most exciting risk/reward opportunities you will ever come across. 

You are looking at an aerial photo of the West Coast of Africa, taken from the space shuttle. The Republic of Guinea is circled, along with an offshore delta formation. Houston based HyperDynamics owns the hydrocarbon rights to a 64,000 square kilometer concession of the coast of Guinea in the area of the delta formation. 

In December HyperDynamics completed a 4,000 kilometer 2D seismic survey of the initial target area. The company recently announced it is contemplating expanding with an additional 20,000 kilometer survey.

HyperDynamics is currently evaluating all the data and will be identifying targets for a subsequent 3D seismic study, which will lead to the identification of the sites for the first test wells.

A great deal of economically viable oil has been discovered off the coast of West Africa in the past year. The Nigeria/Sao Tome Joint Development Zone received $500 million for bonus development bids at the end of October. At the end of 2003, Dana Petroleum announced it had discovered oil at its Pelican-1 site of the coast of northern Mauritania.

As you can see from the chart, shares of HyperDynamics have been a bit of a snore recently after having an exciting late 2003. In November the stock ran from $1.50 to $2.25 in short order, pulled back below $1.50, then charged again into the $1.90 range. Since the first of the year HYPD has been hanging in the $1.60 to $1.70 range.

In today's news release HyperDynamics disclosed that both of its seasoned veterans from the oil industry had renewed their employment contracts. In light of the company's high level of confidence in it's concession off the coast of Guinea, this comes as no surprise.

However, another little tid bit came to light in the press release. In the headline HyperDynamics announced its ongoing capital raising efforts were successful, which is very important to shareholders. If you read their last quarterly financial filing, you know the company needed to raise money to keep the process moving along. Click Here to read the entire text of the press release.

Completing the data processing, moving to the 3D studies, and getting results from the first test wells will be a lengthy process. The company's current value is under $50 million. If they find oil, $50 million could be a distant memory, but it could take some time. 

I believe this stock will be just like Irvine Sensors (NASDAQ: IRSN), which many of you followed. Some day someone will come along and want a big position. After 11 months of range bound trading, Irvine Sensors ran from $1.60 to $4.50 in a month. I don't know when it will happen, but I want you in ahead of the crowd. There's risk, but unlimited upside. Have some patience and continue to accumulate for the risk end of your portfolio. 

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