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  [IMAGE] June 2, 2001 [IMAGE]   [IMAGE] Volume IV, Issue 49 [IMAGE]     Email : info@otcjournal.com   URL : http://www.otcjournal.com    To OTC Journal Members:     [IMAGE] Market Comment [IMAGE]  We are in a very listless market right now. The NASDAQ has given back the 300 point gain it enjoyed from the last 1/2 point surprise rate cut from the FED. Every time the NASDAQ looks at 2000, it runs back up like a hooked fish when it first sees the fisherman's boat. Many technicians believe the NASDAQ needs to trade into the 1900 to 1950 range before it can move on to higher ground.   Microcaps are drifting down on light volume, reaching low risk entry points which will seem cheap when the next volume surge takes them back up. We are entering Earnings Pre-Warning season, a new 21st century phenomenon created by our litigious society.   Many fund managers are waiting to pounce on beaten down technology stocks as they sell off when earnings warnings are issued. Everyone's buying cheap now, positioning for what might be one of the most prolific 4th quarters of all time in stocks.   Now would be a great time to review the trading strategies for accumulating on dips we shared with you in our May 12th edition . Click Here , and read the first section.   Two of our featured companies have been in the news this week, and here's an update for you on both:      [IMAGE] XML Global Technologies (OTC BB: XMLG) Featured in Investor's Business Daily   Thusday, May 12th's edition of the venerable Investor's Business Daily carried an article in the Internet & Technology Section, authored by Sarah Z. Sleeper entitled "U.N Group OKs 'Language' That Could Spur E-Business".   The article mentions that the U.N.'s group OASIS (Organization for the Advancement of Structured Information Standards) has announced the specific International standards for programming with ebXML.   Long term readers know one of our featured companies, XML Global Technologies has been developing programming tools for this new and revolutionary programming language which is expected to become the new International Standard by which all computer systems communicate with each other.   XML Global is mentioned in the article along with Sun Microsystems, IBM, and Oracle. Here are several excerpts:   "With little fanfare, the e-conomy received what might prove to have been a pretty good jolt."  (first paragraph) "It's backed (ebXML) by a bevy of tech heavy-hitters. They include Sun Microsystems, Inc., IBM Corp. and Oracle Corp." (5th paragraph) "The biggest win is going to be for the average consumer, said David Weber, as vice president at Vancouver B.C.- based software firm XML Global Technologies, Inc. EbXML will reduce costs for companies." (11th paragraph)  The article goes on to describe recent international demonstrations of the product where XML Global participated along with Bea Systems, Commerce One, and Sun Microsystems.   Clearly XML Global Technologies has placed itself directly in the path on an oncoming tidal wave of new programming opportunities, and is the David in a team of Goliaths headed towards the adoption of ebXML.    Rarely are microcap stocks prominently mentioned in the company of such huge success stories. XML Global has a tiger by the tail.   The stock has drifted back on light volume to the $.90 range. You should have a look at it down here.   We are trying to get permission to reprint the entire article for the benefit of our members. We may have it in PDF Format by the middle of next week. Stand by for more information.     [IMAGE] Envoy Communications, Inc (NASDAQ: ECGI) Announces March Quarterly Earnings [IMAGE]  This past Tuesday after the market closed Envoy announced its 21st Consecutive Quarter of Year-Over-Year Growth in Revenue and EBITDA. This company is putting on a remarkable corporate performance in a hostile business climate.   Here are the quarter to quarter comparisons: (all figures are in Canadian Dollars)       March Quarter 2000 March Quarter 2001 Percentage Increase Revenues $12,938,527 $20,430,030 57% EBIDTA Earnings $2,135,919 $3,074,254 44% Earnings Before Non-Cash Expenses $857,286 $1,282,121 49% EPS Fully Diluted .03 .03 0%    Investors should note that the company's sales were up 57% over the same quarter the previous year to $20,430,030. Real, after tax cash earnings increased 49% to $1,282,121. EPS stays the same due primarily to non-cash expenses. The accounting standards for these non-cash expenses are changing this summer to accurately reflect the company's financial performance.   The editors of the OTC Journal continue to believe this stock is worth $5 per share US. Yet, it continues to languish in the high $2 range due to complete lack of sponsorship from Wall Street. The OTC Journal is the only substantive forum for investment ideas that follows this company.   Now that the market is turning, management recognizes it is time to go to Wall Street and present itself to the institutional community if it ever hopes to create a significant result on behalf of long suffering shareholders.   Patience should pay off for investors. Wall Street will eventually discover this company because Wall Street loves profits again. This is a low risk growth stock to accumulate on dips. Their history of profitability mitigates many of the risk factors associated with micro cap investing, and investors will eventually come along that want this stock.    The OTC Journal is a proud partner of the SwingWire.com Online Investment Community . A next generation Online Analyst Exchange providing Members the ability to search, review, track and monitor some of the Internet's best Online CAs (CyberAnalysts). Members have the opportunity to potentially achieve higher returns by viewing top performing portfolios and receiving real-time alerts from favorite CAs.    SwingWire.com  also has a lucrative incentive model for experienced investors and traders who consistently outperform the market. Share market ideas with other like-minded investors, establish a proven track record, provide insightful commentary, attract followers and ultimately become one of the Internet's highest paid and most sought after CyberAnalysts!    Click here to receive your FREE 30-Day Trial Membership with no further obligation. Sign Up Today!        Disclaimer   The OTCjournal.com 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:  http://www.otcjournal.com/disclaimer.html  for our full profiles and http://www.otcjournal.com/trading-alerts/disclaimer.html  for Trading Alerts. MarketByte LLC has been paid the following fee by XML Global for a year of representation: $100,000 cash, 60,000 shares of free trading stock, 60,000 shares of restricted stock, and 60,000 options exercisable at $2. The 60,000 shares of free trading stock have been contributed by a third party on behalf of the company. Please review our policy on selling shares found within our Mission Statement at our home page.   All statements and expressions are the sole  opinions of the editors and are subject to change without notice. A profile, description, or other mention of a company in the newsletter is neither an offer nor solicitation to buy or sell any securities  mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein.   The editor, members of the editor's family, and/or entities with  which they are affiliated, are forbidden by company policy to own, buy, sell or otherwise trade stock for their own benefit in the companies who appear in the publication.   The profiles, critiques, and other editorial content of the OTCjournal.com may contain forward-looking statements relating to the expected capabilities of the companies mentioned herein.   THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN  SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK. THE INFORMATION FOUND IN THIS PROFILE IS PROTECTED BY THE COPYRIGHT LAWS OF THE UNITED STATES AND MAY NOT BE COPIED, OR REPRODUCED IN ANY WAY WITHOUT THE EXPRESSED, WRITTEN  CONSENT OF THE EDITORS OF OTCjournal.com.   We encourage our readers to invest carefully and read the investor information available at the web sites of  the Securities and Exchange Commission ("SEC") at http://www.sec.gov and/or the National Association of Securities Dealers ("NASD") at http://www.nasd.com . We also strongly recommend that you read the SEC advisory to investors concerning Internet Stock Fraud, which can be found at  http://www.sec.gov/consumer/cyberfr.htm . Readers can review all public filings by companies at the SEC's EDGAR page. The NASD has published information on how to invest carefully at its web site.     Unsubscribe Here     You can unsubscribe from this list at any time by Clicking Here  and HITTING SEND. 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