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Subject: (OTCBB: PBOTF)Ready To Move!!!
PENN BIOTECH INC.
Company Name: Penn Biotech Inc.
Stock Symbol: OTCBB: PBOTF
Current Price: $1.60
Shares Outstanding: 19,000,000
Approx. Float: 11,000,000
2 Week Target: $2.85
3 Month Target: $10.00
Penn Biotech Inc Overview:
Penn Biotech Inc. (PBOTF:BB) is in the process of
a
transformation.
The management has long established ties with Asia,
on
both personal and business levels. The
technology
behind the seed potato business of Penn was
developed
in Korea, and Penn was able to license its
development
because of those
management ties.
The transformation that is taking place is
developing
the company into a technology holding company,
by
acquiring other Asian technologies and bringing
them
to the North American product markets and, by
so
doing, building the company up to the point where
its
shares would qualify to trade on a major US
exchange.
In this way, US multiples can be realized on
the
stock, and access gained to the vastly larger pools
of
capital in the US.
To this end, the company has recently signed a
letter
of intent to acquire all of the issued and
outstanding
shares in another Korean technology
company,
Traffic-ITS Co. Ltd., positioning Penn with two
world
leading technologies in well established
product
markets.
About the Technologies
First, Penn Biotech > -> why should anyone be
excited
about potatoes?
Well, the reasons are pretty basic: potatoes are
the
second largest agricultural crop by value in
the
world. Potatoes for consumption are grown from
seed
stock developed through successive generations of
seed
potatoes. Each successive generation
yields
approximately ten times the number from the
previous
generation, it is only economic to grow potatoes
for
consumption from the sixth generation The
production
cycle is thus very long, and subject to numerous
risks
from disease and weather.
The global market size of the seed potato industry
was
approximately 35 million tones in 2002, which, at
an
average price of US$290 per tonne, gives a
total
market value of approximately US$10 The
Canadian
market is worth about US$89 million, the US
about
US$360 million.
So? What Penn> '> s technology does is to reduce
the
cycle by at least one generation > -> thus
reducing
the time to market and the attendant risks.
In
addition, because of the way in which the seeds
are
propagated, each generation is as strong
genetically
as the previous, unlike conventional methods.
there
are numerous other, technical advantages that
Penn
has, but these two are the essential
ones.
Next, Traffic-ITS. The business sector is that
of
intelligent transportation management > -> ITS as the
industry abbreviation has it.
This is a truly huge industry > ->
encompassing
everything from in-road traffic sensors, to GPS
car
tracking systems, to traffic monitoring video
cameras,
to > "> Amber Alert> "> systems to LED
traffic
lights. Traffic-ITS is the dominant company in
this
industry in Korea, with sales having grown from
US$7
to US$30 million in the last three years, and
future
growth forecast at an increasing rate as the
company
expands into the US and China.
The forecast from the US Department of
Transportation
is for over US$210 billion to be spent in the
next
decade on ITS in the US. China> '> s needs are
even
larger, with spending currently running at over
US$32
billion per year.
Of the many companies in the industry, very few are
in
all aspects of the business, and even for
those
companies, such as Siemens, it is only a part of
their
business. Traffic is a pure play in this
massive
industry.
In summary, the combination of two Korean
technologies
in two market sectors that are well developed
and
growing rapidly represents a company and an
investment
opportunity that deserves serious
review.
NEWS HEADLINE FROM MARCH 16th 2004: Penn
Biotech
Inc. to Acquire Korean Technology Company
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