You can unsubscribe from this list at any time by Clicking Here and HITTING SEND. If you are having difficulty removing yourself or wish to change your address please go to http://listserv.otcjournal.com/opt.cgi.

Email : info@otcjournal.com
URL : http://www.otcjournal.com

To OTC Journal Members:

There are several points of interest to cover in this weekend's edition.  There is news on Pawnbroker.com, our December profile, and some other new upcoming features to bring to your attention.

A quick reminder that you only have about 20 days left to take advantage of the free 13 week subscription to Forbes Magazine.  This offer is exclusive to our members, and cannot be found on the Internet anywhere else.  Your redeemable points will expire on April 1st.  International subscribers are welcome.

Sometime in the next two weeks you will begin receiving the OTC Journal in an exciting new format.  The new format will have some great new features, and a totally new look.  Please feel free to send back your comments.  Let us know if you like it, and any suggestions you have for improving its features will be taken under consideration.

AOL and Text Only subscribers will still have to click on the first link in the newsletter which launches a web page version.  If you still have a text only browser, please upgrade to something more timely.  For you die hard AOL fans, we are all hoping that someday AOL will release its stranglehold on your technology and let you play well with the rest of the Internet.  Until that time you will continue to receive corrupted version of content that comes from outside of AOL.

We profiled Pawnbroker.com back on December 10th at $7 per share.  The stock has done very little since that time, trading in a narrow range between $6.50 and $8.50 for the last three months.

Next Wednesday, March 15th, Pawnbroker.com will be quietly unveiling its long awaited site and will be open for business.

If you are not familiar with this company now might be a good time to go back and review our original profile. Click Here to read the original profile.

We spoke with CEO Neil McElwee at length today.  He brought us up to date on the progress of the company, and we would like to share some of that information with you now.

Since we first looked at this company we have always felt that there would be two critical components in their recipe for success.  First, Pawnbrokers had to be willing and trusting enough in their system to put their merchandise up for sale.

Second, they had to create a supersite that functioned extremely well.  They are developing a site that has to handle thousands of transactions simultaneously.

We learned today that 3,000 Pawnbrokers have now committed to putting merchandise on the site.  Of those 3,000, about 130 are now actively loading merchandise for next Wednesday's soft launch.

We stated in our original December profile that management felt it needed 3,000 Pawnbrokers to enroll in their program and become actively involved.  Three thousand have now signed up, which we view as a major milestone.   Taking it a step further, now visualize 3,000 Pawnbrokers putting 1500 items up for sale on the site.  You now have 4.5 million items for sale on the site.  There would be more items for sale on the site than Ebay has today.  Based on Friday's closing price, Ebay trades with a market capitalization of $23.6 billion.  Pawnbroker's market cap is only $97 million which suggests that there is substantial upside potential for Pawnbroker from these levels.

Therefore, Pawnbroker.com could be trading at 10 times its current level ($70 per share), and still be worth only 1/23rd of the value the market is putting on Ebay.  Imagine the profits you would have made if you had the opportunity to invest in Ebay when they were first getting started and there were less than 100,000 items for sale on their site.  Pawnbroker.com offers that same opportunity today with the corresponding risk of investing in an unproven business.

Pawnbroker.com anticipates to have thousands of items for sale when it opens for business on the 15th pending no technological problems

We are cautiously optimistic that there will be an abundance of merchandise available on the site, and that the transactional software will function smoothly.  If the site is up and functioning, we will buy something just to experience the process.

We recommend that you visit the site after the launch next Wednesday and form your own opinion.  The soft launch will not have all the features that are planned to eventually be a part of this site.  Over time new features will be added.

We like this company's approach to the launch of their site.  It could take a month or two of use and testing to work the bugs out of their software and systems.  It will also take some time for Pawnbrokers to become accustomed to posting their inventory on the site for sale.

A high profile launch at this stage of development would risk bringing the site under excessive usage pressure and scrutiny.  If the site crashes like EBay (NASDAQ: EBAY) has done on a number of occasion, it will be met with harsh criticism from users and the market.

The company is planning a high profile grand opening of the site at some point in the next 90 days.  This will be accompanied by a major nationwide multi media advertising campaign.

We have always liked this opportunity.  There are 200 million items in the inventory of Pawn Shops nationwide.  A lot of it is high end merchandise, but individual Pawnshops have limited geographical markets.  Many consumers view Pawnshops as unsavory.  However, these are the same consumers that would probably love to own a high quality previously owned Rolex watch at one fourth the cost of a new one.

Pawnbroker.com will provide a forum for consumers to access this inventory from the comfort and convenience of their own computer.  We believe that if they execute their business plan efficiently, it is just a matter of time before their site rivals EBay for transactions, but with better merchandise.

We cannot be certain that they will be successful.  We also cannot predict when this company will grab the attention of Wall Street.  That is the risk.  Followers of our newsletter know that we like to feature these companies before Wall Street finds out about them.  We would rather cover it six months too early than six days too late.

Risk oriented investors need to be patient when investing in very young companies.  However, as with NetSol International (NASDAQ: NTWK) sometimes a little patience pays off.  NetSol closed at $66.50 on Friday, up from $3.75 when we first introduced it to our readers in January of 1999.

On the right hand menu bar of our home page at www.otcjounal.com, you will find a new Member Survey button.  Please take the time to fill this out.  It is designed to help us improve the newsletter for your benefit.
Click Here to go directly to it.

The OTCjournal.com Newsletter is an independent electronic publication committed to providing our readers with factual information on selected publicly traded companies. All companies are chosen on the basis of certain financial analysis and other pertinent criteria with a view toward maximizing the upside potential for investors while minimizing the downside risk, whenever possible. All statements and expressions are the sole opinions of the editors and are subject to change without notice. This profile is neither an offer nor solicitation to buy or sell any securities mentioned. This newsletter is owned by MarketByte LLC.   While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein. The editor, members of the editor's family, and/or entities with which they are affiliated, may own stock in and have other financial dealings with the companies who appear in the publication.  To that degree, this newsletter should not be regarded to be an independent publication.  MarketByte LLC has received no compensation of any kind for publishing content on Pawnbroker.com.  The OTCjournal.com critiques may contain forward looking statements relating to the expected capabilities of the companies mentioned herein.

THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK. THE INFORMATION FOUND IN THIS PROFILE IS PROTECTED BY THE COPYRIGHT LAWS OF THE UNITED STATES AND MAY NOT BE COPIED, OR REPRODUCED IN ANY WAY WITHOUT THE EXPRESSED, WRITTEN CONSENT OF THE EDITORS OF OTCjournal.com.

We encourage our readers to invest carefully and read the investor information available at the web sites of  the Securities and Exchange Commission ("SEC") at http://www.sec.gov and/or the National Association of Securities Dealers ("NASD") at http://www.nasd.com.   We also strongly recommend that you read the SEC advisory to investors concerning Internet Stock Fraud, which can be found at  http://www.sec.gov/consumer/cyberfr.htm.   Readers can review all public filings by companies at the SEC's EDGAR page. The NASD has published information on how to invest carefully at its web site.