ubs newsUnique Broadband Systems Inc -
Unique Broadband fifth most active conference
Unique Broadband Systems Inc UBSShares issued 65,835,3562000-01-21 close
$5.3Monday Jan 24 2000Week ended Jan. 21st by Stockwatch business
reporter This is the first review of Unique Broadband Systems in Forum
Watch, claiming fifth position among Canada Stockwatch's most active
conferences. According to the company literature, Unique Broadband
develops and manufactures a range of broadband wireless solutions. Those
products are targeted at digital radio, satellite digital radio and the
transmission of wireless television, voice and data. The company has
long been a favourite on Internet chat sites, but the enthusiasm of its
followers was not matched in the market until late last year and into
January. The stock price languished well below $1 until mid-November
when the announcement of a teaming agreement with Hughes Network Systems
seemed to draw broader investor interest. On Nov. 19, Unique president
Alex Dolognos and chief financial officer Stephen Rosen were cease
traded by the British Columbia Securities Commission. The two insiders
had neglected to file insider trading reports for more than two years.
The cease trade orders were rescinded on Nov. 24 after Mr. Dolognos and
Mr. Rosen filed the tardy reports. On Dec. 21, the company released its
financial results for the six months ended Nov. 30, 1999, reporting
sales of $3.2-million and a net profit of $34,182. Included in the
release was a statement from Mr. Dolognos regarding the agreement with
Hughes Network Systems. "With the signing of our teaming agreement with
Hughes Network Systems, we are now poised to capture a significant
portion of satellite digital radio business in North America and
globally," Mr. Dolognos proclaimed. Benefiting from the recent
infatuation with wireless companies, trading in Unique has been brisk.
The stock hit a 52-week high of $6.20 on Jan. 13. The Unique conference
has not seen much in the way of detailed discussion but it does have the
distinction of being the only conference among the top five most active
not devoted to a diamond play, though the stock has been something of a
gem lately, particularly for those who purchased shares more than two
months ago. Early in the week, 'R.M.' seemed to have the conference
entirely to himself, posting some related information and links and
seeming to speculate regarding a Nasdaq listing. He was joined by
'wendel' who claimed that some news would be released during the week.
"Is it the new partnership news!" 'R.M.' exclaimed rather than asked.
There was no response from 'wendel'; nor was there any news, as it
turned out. After 'luvbreast' remarked that it seemed that 2000 was
"going to be the year for UBS," 'FundamentalThinker' joined the
discussion to report that the company was being discussed on U.S. stock
discussion sites: "They are taking an interest in our tiny little tech
spec. I wonder if someone knows something about a Nasdaq or NYSE
listing?" Commenting further, he claimed, "UBS is a world leader in the
R&D department of this booming sector." In a subsequent post he wrote:
"UBS has found some support today at the $5.00 level & is heading north
without the benefit of the US markets being open today. I can't wait to
see what happens tomorrow. IMO the technicals look pretty good right
here." As the week was drawing to a close, 'ubs dreamer' predicted that
the stock would be at $7 on Friday. Unique Broadband finished the week
at $5.30. (c) Copyright 2000 Canjex Publishing Ltd.