Stockprowler.com

Stockprowler looks under the rocks to find those little stocks with the potential to make the BIG moves. Stockprowler screens NASDAQ, NYSE, AMEX, and OTC stocks trading under $1. These stocks offer the speculator considerable leverage. It is not uncommon for these stocks to make moves of 30%, 50%, or more. Please read our disclaimer before trading in any stocks mentioned on this Website ... Here's the Stockprowler Report for June 2006:

Stockprowler Watch

Here are some stocks we are watching closely!

Our next pick will be
9/4/06!

PTSC

XKEM

DIMEZ

PLNI

AACS

Stockprowler picks 3 speculations for Summer 2006....

Patriot Scientific Corp. (OTCBB: PTSC)

Shares of microchip patent-holder Patriot Scientific Corp. soared as much as 50% in trading Friday after the company's joint-venture partner, The TPL Group, announced it had signed a licensing deal with Japanese electronics giant Sony Corp. (NYSE:SNE). The patent portfolio, marketed as the Moore Microprocessor Patent(TM) Portfolio, contains intellectual property that is jointly owned by Patriot Scientific Corp. (OTCBB: PTSC) and the privately held TPL Group. The portfolio encompasses ten U.S. patents as well as European and Japanese counterparts. Both TPL and Patriot assert that their jointly owned patents protect techniques used in designing microprocessors, microcontrollers, Digital Signal Processor (DSPs), embedded processors and System-on-Chip (SoC) implementations. The MMP Portfolio is exclusively managed by Alliacense, a TPL Group enterprise. Global sales of end products deploying chips using technologies protected by the jointly owned patents are estimated to be greater than $200 billion annually.

The validity of the MMP Portfolio has gained substantial momentum since computer chip makers Intel and AMD purchased MMP licenses last year. In addition to Friday's Sony signing, Hewlett-Packard, Casio Computer and Fujitsu have purchased MMP system licenses in 2006. TPL believes that the intellectual property protected by the MMP Portfolio is used in a wide variety of end-user products including personal computers, servers, workstations, home theater systems, digital TVs, video games, DVD Recorders/Players, mobile handsets and automotive electronics.

Shares of PTSC closed at $1.37 on Friday up 35 cents on the day. On Monday, look for shares to break the 52 week high of $2.25 as news of the Sony signing becomes more widely known.

Xechem International, Inc. (OTCBB: XKEM)

Shares of XKEM were up 45% Friday in heavy trading on news that its Nigerian subsidiary, Xechem Pharmaceuticals Nigeria Ltd. (Xechem Nigeria), has successfully closed on a N150 Million Naira ($1.2 million) loan from the Nigerian Export-Import (NEXIM) Bank. Xechem International, Inc. is a development stage biopharmaceutical company whose focus and resources are currently being primarily directed toward the development and commercial launch of NICOSAN (to be marketed as HEMOXIN in the United States and Europe). The drug has shown efficacy in the prophylaxis management of Sickle Cell Disease (SCD).

Dr. Ramesh Pandey, Chairman and CEO of both Xechem International and Xechem Nigeria stated the money received by Xechem Nigeria is to be used primarily to facilitate the expansion of its facility for the commercial scale production of NICOSAN.

Xechem Nigeria has submitted its Drug Master File (DMF) dossier with Nigeria's drug regulatory agency, the National Agency for Food and Drug Administration and Control (NAFDAC), seeking full registration for NICOSAN. It is currently awaiting final word from that agency on its submission. Subject to the necessary approvals, Xechem has indicated that it would like to launch the drug in Nigeria by early July 2006, and shortly thereafter to embark on the clinical trials in the U.S. hospitals for FDA approval through the Investigational New Drug (IND) Application for sale of the drug in the United States.

XKEM closed Friday at 1.6 cents with 84 million shares traded.

Dime Bancorp Litigation Tracking Warrants (NasdaqNM:DIMEZ)

Stockprowler first looked at DIMEZ back in April 2005 when the Anchor Savings Bank vs United States case was being litigated in Federal Court. It looked like it had 10 bagger plus potential back then and we believe it still does. So what is this all about?

The lawsuit was filed against the United States government way back in January of 1995 by Anchor Bancorp, which later merged with Dime Bancorp. Between 1982 and 1985, Anchor acquired 8 failing savings and loan operations. Four of the acquisitions involved financial assistance from the Federal Savings and Loan Insurance Corporation (FSLIC). Liabilities in these transactions exceeded assets by $650 million. Anchor alleged that FSLIC agreed that this sum could be recorded as goodwill, and that Anchor would not have made the acquisitions if this had not been the case.

Enacted in 1989, the Financial Institutions Reform, Recovery, and Enforcement Act required that the aforementioned goodwill be eliminated immediately. The company argues that this action placed severe restrictions on its activities and forced the company to sell valuable assets under liquidation-like circumstances.

Washington Mutual (NYSE: WM) bought out Dime Bancorp several years ago and inherited Dime Bancorp's lawsuit. The DIMEZ financial instruments are termed warrants, but in fact, are more akin to rights. They offer the buyer an opportunity to receive common stock if a particular event not related to price of the common stock occurs. There is no exercise price, nor is there a definitive expiration date... the warrants expire shortly after litigation has been concluded. The warrants offer purchasers the opportunity to receive 85% of a settlement after taxes and lawyers fees have been taken out. The warrants trade as DIMEZ, although the underlying stock for the warrants is Washington Mutual (NYSE:WM).

The number of shares of Washington Mutual that a holder of the DIMEZ warrants is entitled to after settlement of the litigation is difficult to determine and is dependent on several variables. The trial itself was concluded in July 2005 and we are awaiting the court's decision. The court could award anything from $0 to $983 million. If the judge were to award the maximum amount, it would make the DIMEZ warrants worth somewhere between $7 and $8 …or over 40 times the 17 cents that they closed at on Friday! Far fetched you say? Well, in another S&L breach of contract lawsuit filed against the U.S. government, that of Glendale Federal Bank, Chief Judge Loren A. Smith found that the government was liable for $908.9 million in damages!

Of course, you could also receive nothing. In the event that the court does not award damages, the warrants would be worthless. It is a crap shoot. Don't wager more than you can afford to lose. Shares of DIMEZ were trading around 16 cents at last look.

Well, all right, that's it for now… place your bets, sit back and relax. Remember, this is speculation not investing and quite often we get rewarded BIG for taking a chance…

Stockprowler.com does not receive compensation from companies we profile or from third parties... we never have and never will. We use our own money when we buy stocks, and even though we usually take a position in a stock before we profile a company, our purchases are small relative to the public float so that the effect on the stock price when we buy or sell is minimal. Please read our full disclaimer.

Also, contrary to a commonly held belief, Stockprowler does not have access to insider information, nor do we want to because trading on insider information is illegal! All information contained in our reports is available in the public record... and any written or verbal communication with company CEOs/IR people strictly adheres to this rule.
Readers are urged to read the company SEC filings and do their own due diligence before investing in this or any other stock.

Good Trading... Stockprowler