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January 10, 2004
Volume V, Issue 2
Email : [email protected]

To OTC Journal Members:

Trading Alert: Project Group (OTC BB: PJTG)

Followers of the OTC Journal's ideas in the penny stock arena should be noticing an emerging pattern. Several of the microcap situations I cover have begun trading very well on increasing volume since we turned the corner to 2004. This is commonly known as the "January Effect". It tends to have the greatest impact on the smallest stocks.

Stocks which have begun to appreciate off moderately depressed levels include FMLY, AVWI, HYPD, and TTGH. All of these issues have been climbing the charts on increasing volume since December tax selling and portfolio adjustments abated.

One stock I feel will do extremely well in 2004 has yet to join the party. I believe Project Group should arrive at the party on Monday. The stock has not begun a rebound phase, which is why I'm excited about the opportunity to feature it in this weekend's edition. 

The company came out with outstanding news after the market closed on Friday. In my mind, the current trading level equals opportunity. The two previous editions I have written on this company have resulted in profitable short term moves, and I believe the stock is positioned to yield the same result.

For those of you who need a refresher course, Project Group is the world's leading integrator of Microsoft® Project, Microsoft's enterprise software solution. For more information on their business model, please review my November 22nd edition. Enterprise software is only the 4th largest segment of Microsoft's business, but it's the fastest growing. If you want to participate in the growth of Microsoft's Enterprise software sales, Project Group offers an excellent proxy. Project Group boasts Wal-Mart, Halliburton, Waste Management, and Texas Industries Inc amongst its current client base.

Friday, after the market closed, Project Group announced it landed another big fish. Devon Energy (AMEX: DVN) has retained Project Group to provide advisory services related to the implementation of Enterprise Project Management with Microsoft's Project 2003. Devon Energy is the largest independent oil and gas producer in the United States. When reviewing the news release, I noted it also appeared under Devon's ticker symbol. This should bring Project Group onto the radar screen of a large number of new potential investors.

The company expects to report about $2 million in sales for 2003, but sees revenues increasing to at least $6 million in 2004. This growth is the direct result of having added 12 new clients to their customer base over the past 6 months, and reasonable expectations for a few more new clients in 2004. The addition of Devon Energy to their customer list lends credibiltiy to their $6 million forecast.

As you can see from the chart, the stock began to make new highs in November. Since the initial spike, the highs have been getting higher, and the lows have been getting higher. The stock is parked in the center of a 50% retracement of November and December's action, suggesting it is ready to begin a rebound phase. In addition, volume has dried up to anemic levels. The lack of volume suggests sellers are exhausted. Therefore, a surge of buying could easily lead to higher levels.

The entire market value of the company in the $.20 range is a minuscule $10 million. With expectations of $6 million in sales for 2004, the stock should be entitled to trade into the $.40 range over the longer term, and is overdue to challenge the $.25 to $.30 range in the short term.

If the stock gaps up on Monday morning, wait for a pullback. A limit order in the $.22 to $.23 range is suggested.

Here is the complete text of the news release for your review:

Press Release Source: The Project Group Inc.

The Project Group Engaged by Devon Energy Corporation

Friday January 9, 4:01 pm ET 

PJTG Continues to Win Significant Opportunities in the Oil and Gas Sector

HOUSTON--(BUSINESS WIRE)--Jan. 9, 2004--The Project Group Inc. (OTCBB:PJTG - News), the world's leading integrator of Microsoft® Project and provider of business initiative services to Fortune 1000 companies, announced today it has been engaged by Devon Energy Corp. (AMEX:DVN - News), the largest U.S.-based independent oil and gas producer, to provide advisory services related to the implementation of Enterprise Project Management with Microsoft's Project 2003. 
"We are very pleased that major oil and gas industry leaders such as Devon are adopting MS Project and our processes," stated Craig Crawford, president and chief executive officer of The Project Group. "As we clearly continue to demonstrate, The Project Group's project management processes have application across all industries and platforms." 

This announcement marks the twelfth addition to PJTG's client list over the past six months. Directly, or through Microsoft's partnership programs, other organizations engaging The Project Group during this period include: Wal-Mart, Halliburton, Waste Management, Texas Industries Inc., Cooper Cameron, Tetra Technology, Affiliated Computer Services, Carter Burgess Inc., and Solvay S.A. 

About The Project Group 

The Project Group Inc., a Microsoft Gold Certified Partner, provides project management advisory services, implementation services, configuration, custom programming and other related products and services using its proprietary methods in accomplishing assignments. The Project Group has provided its expertise to the Fortune 1000 including Waste Management (WMI), Microsoft (MSFT) and Texas Industries Inc. (TXI). PJTG, headquartered in Houston, Texas, was founded in 2001 by senior project managers with broad Fortune 1000 project experience. PJTG focuses on providing enterprise-based project management solutions and improving project schedule and budget performance for its customers throughout the United States and world. 

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated by these statements. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new opportunities, and the unpredictable nature of business risks; as well as other factors set forth in the Company's most recently filed Form 10 reports. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. The Company assumes no obligation to update the statements contained in this release. 

     Trilogy Capital Partners Inc.
     Racquel Rivera, 800-330-6540
     [email protected]

Source: The Project Group Inc.


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The 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.  Moreover, as detailed below, this publication accepts compensation from certain of the companies which it features.  Likewise, this newsletter is owned by MarketByte, LLC.  To the degrees enumerated herein,  this newsletter should not be regarded as an independent publication.

Click Here to view our compensation on every company we have ever covered, or visit the following web address: for our full profiles and for Trading Alerts.MarketByte LLC has been paid a fee of 300,000 free trading shares for coverage of Project Group by a third party. 

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