IFTP continues to top our Watch List … the company announced revenues for the month of January totaled over $8.0 million (unaudited) with a profit for the month in excess of $1.8 million. Stockprowler believes that when the market makers and daytraders are done playing with this stock, it will likely make a dramatic move.

     Also, in our Watch list… take note of MDCH. Meditech’s anti-viral drug, Viraplex®, has caught the attention of the National Cancer Institute. Studies by the National Cancer Institute began in 1987. To date 60,000 drugs have been screened by NCI against cancer related tumors. Of the 60,000 drugs entered into the program to date, 1,700 have survived in-vitro testing and were selected for in-vivo tests which began in early 1994. Of the 1,700 drugs, less than 10 have been found to be useful against human tumor cells from breast cancer and ovarian cancer patients. Viraplex® is one of the drugs which has been successful to date in the program. 

Stockprowler’s pick this week is…

GlobalMedia.com (NasdaqNM: GLMC)

Corporate Web Site: http://www.globalmedia.com

Shares Outstanding: 37.1 million

Public Float: 8.9 million

Insider Ownership: 76%

Institutional Ownership: (3) 6%

Market Capitalization: $4.64 million

Closing Price Friday: $0.125

     Ginger… “IT”…  and now we have JOKER?? This week’s pick, GlobalMedia.com (NasdaqNM: GLMC) of Vancouver, British Columbia carries the distinction of being the lowest priced stock we have ever picked on Stockprowler.com, yet it has the potential of being, quite possibly, the next big thing. The buzz is building on the message boards that GlobalMedia has developed a milestone interactive wireless streaming video technology code named “JOKER” that will enable “play by play” wagering on sporting events. If the speculation proves to be true, this company could see one heck of a reversal of fortunes.

     But is there a basis for this speculation… what evidence is out there that such a project even exists? Several things lend credence to the notion. First, Winston Barta, GlobalMedia’s vice-president for business development, was previously a vice president of marketing for Starnet Communications International, Inc., a publicly traded  company also located in Vancouver, B.C. which develops and provides Internet gaming systems and operates its own offshore online gaming systems. Second, what is the extent of GlobalMedia’s relationship with Poker.com, “The Ultimate Gaming Portal”? Click on this link: http://store.poker.com/home3 and scroll down to the bottom of the page… it states “Part of the GlobalMedia Network”. Third, a RagingBull poster claiming to be a former senior software developer at GlobaMedia, has stated flatly that it (JOKER) was a real project when he was employed with the company, although he was not involved with the project. The poster claims the project reached the prototype stage and involved a range of devices including handhelds…

     In 1999 alone, worldwide revenues for the gaming industry exceeded over one trillion dollars, of in which $800 million was spent through online gaming. This represents less than ten percent of total gaming revenues. Internet experts and venture capitalists predict that these online revenues will increase tenfold within the next three years. If, indeed,  GlobalMedia has developed a new gaming technology, the world will beat a path to its door.

     GlobalMedia.com has been engaged primarily in the development of a broadcasting network over the Internet, including streaming services, integrated e-commerce solutions, a customized media player and simulated live Internet-only radio stations. Global recently refocused its business strategy away from Internet audio delivery to video delivery over the Internet and on the development of its next generation technology, which is targeted for the rapidly growing broadband and wireless market. As a result of this shift in focus, the company announced a major restructuring of its business, including the sale of its radio station streaming audio contracts and related assets to SurferNETWORK.com for $1 million in cash plus 1 million shares of SurferNETWORK.com restricted common stock. The sale was completed on February 2, 2001. GlobalMedia is continuing to significantly scale back its operations and is actively seeking funding and strategic partnerships in order to fund operations while it implements its new business model, to repay its existing liabilities, and to restore its share price to the level required for continued listing on the Nasdaq National Market.

     On October 18, 2000, the National Football League (NFL), Fantastic Entertainment, a global provider of broadband multi-media solutions and GlobalMedia.com  announced an agreement in which NFL games and related content will be available to broadband subscribers in select non-U.S. markets, employing the services and technical capabilities of Fantastic and GlobalMedia. Fantastic Entertainment is the world's leading provider of software solutions for broadband data broadcasting. This is an emerging communications technology which combines point-to-multipoint digital broadcasting with point-to-point Internet connectivity to deliver rich interactive media content to PCs, digital set-top boxes or handheld devices over any broadband network.

"The NFL is committed to extending the reach of its games to fans around the world and to promoting new technologies and new media to achieve that goal," said Tola Murphy-Baran, senior vice president of market development for the National Football League. "NFL's highly desirable content will be an effective driver in the proliferation of broadband networks worldwide. We are teaming up with two high-quality organizations, Fantastic and GlobalMedia.com, to help us deliver a content rich experience to our international fans."

     The GlobalMedia/Fantastic broadband application will allow users to watch games and simultaneously learn more about NFL Football. If a user is unfamiliar with a penalty or a rule, they can click on a link to videos and info sites on NFL.com to find out more. They will also be able to call up statistical information, link to live game-day applications, or visit the NFL Shop. Multi-lingual translations will also be available at a click… all this extra content will be able to be accessed while watching the game action.

     In addition to the NFL deal, on November 21, 2000, GlobalMedia announced an agreement with WorldHockeyNet.com to create the premier online destination for some of the greatest stars in professional hockey. The multi-year deal will provide hockey fans around the world with the most comprehensive multimedia ice-hockey experience on the Internet. As WorldHockeyNet.com's exclusive technology partner, GlobalMedia will develop the complete web presence, including revenue generation opportunities such as e-commerce, advertising and content subscription models. Hockey fans will be able to access up to the minute content about their favorite teams and players. This includes personal player and fan web sites, live chat, web-cams and exclusive access to a growing lineup of superstars including two-time NHL MVP Dominik Hasek, Stanley Cup champions Patrick Elias and Petr Sykora, Norris Trophy winner Rob Blake, perennial All-Star Nicklas Lidstrom, and many more.

     The highly customizable technology platform provided by GlobalMedia will be used to create streaming media players that will capture the energy and spirit of the individual hockey personalities. "Hockey fans around the world want to get up close and personal with their players," stated Gordon Oliver, president and CEO, WorldHockeyNet.com "With our exclusive relationships and the technology and expertise provided by GlobalMedia, WorldHockeyNet.com will deliver a breadth and depth of coverage that will not be found anyplace else."

     The company is actively seeking out a “deep pockets” partner to merge with that would be able to finance its new technology build-out and to expand its relationships in the sports sector with the NFL, the WorldHockeyNet.com, and others. Michael Metcalfe, CEO of GlobalMedia.com, stated recently in an interview that the company is currently talking with several larger companies about the possibility of a merger or acquisition. http://www.wallstreetreporter.com/interviews/feb/7/GlobalMedia.htm

     Shares of GLMC closed at 12.5 cents on volume of 391,900 shares traded. Stockprowler.com views GlobalMedia.com as a very high risk speculation. There is a real possibility that the JOKER technology does not exist or may not be a viable technology even if it is for real. Furthermore, the company may not be successful in its current attempt to find a merger/acquisition partner to fund its technology build-out and sports related expansion plans. Having said that, GLMC also offers a potential very high reward if indeed the company succeeds… and the JOKER is truly the wild card!

Good trading… Stockprowler