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OTC Journal Members:
Quick Note- This is our first Trading
Alert since March 12th. Before deciding if you want to participate,
please read the OTC Journal on Trading
Alerts found on the left hand menu bar of our home page. For a
Track Record of former Trading Alerts, Click
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Trading
Alert: Petapeer Holdings, Inc (OTC BB: PETP) |
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We were first
asked to look at this company over two months ago and were fascinated by
the potential. You might not be familiar with the company, but unless you
live in a vacuum you should be familiar with the issues surrounding their
technology.
Petapeer
Holdings, Inc owns the commercial rights to market the Gnottella
Network technology, which many see as the replacement for the highly
publicized demise of the on-line Napster Music Community.
You can visit
http://gnotella.com
to learn more about P2P (Peer to Peer) file sharing for which Gnotella
provides technology.
The Gnotella
network provides technology which allows simultaneous users to look directly
into other user's computers, and transfer files directly. Files are not
limited to MP3 flies, as is the case with Napster. You can
exchange anything from the most complex software to a recipe for fried
chicken.
More importantly,
management at Petapeer Holdings claims their technology does not
infringe on copyright laws. Whereas Napster provides the ability
to share files directly through Napster's server, Gnotella
does not. Gnotella simply provides software which allows computers
to interface over the internet, and has no control over the exchange of
files. Therefore, any violations would be the responsibility of the user,
not the software provider.
Today, after
the market closed, Petapeer Holdings issued a very significant press
release which has the potential to push this virtually unknown stock much
higher.
Petapeer
Holdings announced it has filed a Provisional Patent Application for
a "new proprietary technology that will implement systems and methods
for bolstering the Gnutella Network while generating revenue for Petapeer".
We believe
this stock has the potential to become high profile when one considers
all the press which surrounded the Napster demise. Furthermore,
the company has come up with a revolutionary way to make money off the
technology, and will be filing a patent on it.
The stock surged
nicely two weeks ago, and has since retraced 50% of its previous gain,
providing a low risk entry point.
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Trading
Alert Details |
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Petapeer
Holdings, Inc (OTC BB: PETP) traded as high as $1.70 on May 14th. Today
the stock closed at $1.15.
Here are our
thoughts on this Trading Alert on Petapeer Holdings, Inc (OTC BB: PETP):
As depicted
in the chart, the nearest line of support is $1.06. The stock has retraced
about 50% of its gain the run made from late April to mid May. Today's
news after the close should create a great deal of interest and volume.
Here is our recommendation:
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*Buy up to
$1.30 which gives you room to make money if the stock trades in our favor.
-
*Set your Stop
Loss at $1.06 ( Next Support Level as depicted in the chart) or what ever
your risk tolerance is.
-
*If the stock
can get through $1.75 in the next couple of days it should go higher it
could find its way to nearly $2.
We view this
stock as highly risky, and this is not a long term recommendation. Don't
be afraid to take profits quickly if the market provides a gain, and don't
be afraid to sell quickly if the stock trades against you.
This newsletter
is our opinion only, and not a solicitation to buy this stock. Make up
your own mind. If you are looking for a short term trade limit your loss
if the stock goes against you. As always, we remind you to review the section
on our home page on Trading
Alerts, paying particular attention to the section on trading rules.
The track record on our previous alerts can be obtained by
clicking
here.
Here is the
complete text of the news release for your review:
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Petapeer Holdings Inc. Files
Provisional Patent Application With US Patent and Trademark Office for
Revenue Model With US Patent and Trademark Office for Revenue Model
NEW YORK, May
30 /PRNewswire/ -- Petapeer Holdings, Inc. (OTC Bulletin Board: PETP),
announced today it has recently developed a new
proprietary technology that will
implement systems and methods for bolstering the Gnutella Network while
generating revenue for Petapeer. Petapeer has filed a provisional
patent application covering the technology with the United States Patent
and Trademark Office.
The new technology
covered by the application shall be used by Petapeer as a central part
of its revenue model, and is intended to work with Petapeer's "Gnotella"
peer-to-peer file sharing software described below. As the regular
patent application has not yet been filed and the technology and process
not yet disclosed, no further details can be revealed at the moment, except
that, like Gnotella, the new technology does not rely on advertiser-support
or "stealth" advertising components, known as "spyware" or "adware".
In accordance with United States patent practice, the invention now has
an effective filing date that can be used in a later regular US patent
application, provided that it is filed before the United States Patent
and Trademark Office within 12 months of the provisional application.
This regular US patent application is currently being drafted and is scheduled
to be filed shortly. Corresponding foreign patent applications may
be filed under conventional priority within the same 12-month period, which
the Company is considering.
Petapeer Holdings
Inc.'s "Gnotella" peer-to-peer file sharing software does not employ or
support background or "stealth" advertising components, known as "spyware"
or "adware". Spyware is sometimes employed to generate revenue for
providers of free software by installing itself into users' computers
and collecting personal information about those users, and then transmitting
it to the providers of the spyware, sometimes without users' knowledge
or consent. Recent reports have revealed that "spyware" and
"adware" are contained in some software used to access the Gnutella Network.
Petapeer's "Gnotella" software does not contain, nor has it ever contained
or employed "spyware" or "adware".
"We are pleased
to be the very first to develop this technology, which will be available
to our users if -- and only if -- they want to use it," said Stephane Chouinard,
interim CEO of Petapeer Holdings Inc. "The technology should provide
us with an innovative revenue model that promotes and strengthens the Gnutella
Network without the need for 'spyware' or 'adware', and thus propels legitimate
P2P file sharing to the next level. While it will be up to each user
to choose whether or not to use it, we hope it will be a hit."
Petapeer Holdings
Inc. identifies and commercializes market-ready peer-to-peer (P2P) technologies.
Its first licensed technology, Gnotella, is
an application of the open Gnutella
Network that allows users to quickly and accurately search and share files
anytime, anywhere with anyone in the network. Created for Windows,
users can download any type of file, including text, audio, video, spreadsheets,
word processing, software and more, through the Gnutella Network.
Petapeer Holdings
Inc. urges its users to obey copyright laws and rights of third parties,
but does not and cannot monitor user activity. Neither does it collect
or sell user information.
Gnotella is available
for free download at http://gnotella.com.
This news release
contains forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. Actual results could differ materially from those projected
in the forward-looking statements if assumptions upon which the forward-looking
statements are based do not turn out to be true. Assumptions upon
which the forward-looking statements are based include, without limitation,
the following:
-- That the U.S.
Patent on the technology will be granted;
-- That the technology
will not infringe previously patented technology;
-- That the revenue
models will function as anticipated;
-- That the revenue
models will be accepted by users of Petapeer's
Gnotella software; and
-- That the revenue
models will not interfere with the current popularity
and use of Petapeer's Gnotella software.
SOURCE Petapeer Holdings Inc.
-0-
05/30/2001
/CONTACT:
Henry Eshelman, heshelman@bwr-la.com, or Brian Davis,
bdavis@bwr-la.com, both of B|W|R
Public Relations, 310-550-7776, for Petapeer
Holdings Inc./
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