| |
Hitsgalore.com |
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The Analysis!! |
| Original Coverage
Date: |
3/26/99 |
| Update: |
|
| Category: |
Growth |
| Expected Volatility: |
High |
| Risk Rating: |
Average |
| Price as of last
update: |
|
| Price at initial
coverage: |
$6.25 |
Description |
| Hitsgalore.com
(HITT) is a profitable Internet company with an Internet search engine located at http://www.hitsgalore.com. The HITT
business model is based on offering Free Lifetime Banner Placement, a Keyword Bid &
Rank program and Local City Editions featuring local content. HITT strives to provide
porn- free searching and does not accept or encourage any porn or adult content listings
on its site. HITT completed a reverse merger with Systems Communication
(SCMI) on March 19 in order to become a publicly traded company. All former SCMI employees
subsequently resigned and shares in SCMI’s International Healthcare Solution (IHSI)
will be distributed to shareholders of record on April 6, 1999. HITT has 48 million
current shares and it is estimated by the company that approximately 3 million of these
shares represent the initial free trading float of HITT. |
Current Situation |
| The
Company announced gross revenues for February 1999 of $152,369. This is more than double
the January 1999 revenues of approximately $70,000. The website came out of beta testing
in late November '98 and generated revenues of less than $20,000 from inception to
12/31/98 (all revenue figures are unaudited). The Company anticipates announcing continued
growth for this month. |
Outlook |
| HITT
represents a ground floor opportunity to invest in an Internet company that may experience
explosive growth. We feel the recent enhancements to their website represent a significant
improvement over the previous version and we are assuming that HITT will continue to make
refinements. As more investors find out about HITT, their stock price may
experience significant appreciation. At the current price, HITT has a very attractive
risk/reward relationship. |
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