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Subject: Technical Update(ENPO)Analyst Says BUY...Watch This Stock Trade Tomorrow
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Special Alert

EntrePort Corporation (OTCBB: ENPO) Six Month Target Price: $.10

Shares Outstanding 19.8 million
Approx. Float 12 million
6 Month Proj. $.10

A Few Reasons to Own ENPO:
1. On Sept. 4, 2002 ENPO signed a definitive merger agreement with Multi-Fineline Electronix Inc. (M-Flex) whereby ENPO receives $200,000 and 3 1/2 percent before fee’s of the M-Flex post merger stock.
2. M-flex reported $84 Million in revenue for the first 10 months of their fiscal year ending Sept. 2002. It appears M-flex is on target to do over $100 Million in revenues for fiscal year ending Sept. 2002.
3. M-Flex revenues for its 2000 fiscal year were $100.6 million with $18.1 Million in Positive EBITDA and for its 2001 fiscal year were $82.7 million with $9.4 Million in Positive EBITDA.
4. M-Flex majority shareholder is WBL Corporation Limited, Singapore. WBL reported $541 Million in revenue for 2001.
5. ENPO and M-Flex will make the appropriate filings and could finalize the transaction during Q1 2003.
6. ENPO will be spinning-off their existing business, iSucceed.com, and related training businesses, to its shareholders and certain creditors.
7. ENPO's existing shareholders would retain their current ownership interests in ENPO's existing business, subject to reduction due to the issuance of shares to extinguish certain of ENPO’s obligations, plus a 3 1/2 percent interest in M-Flex’s business operations.
8. Investors in ENPO NOW, prior to the record date, which has not been announced, receive M-Flex shares at the close of the transaction and also participate in the real estate spin-off.

UPDATE

As a courtesy from the Wall Street Analyst.net we've obtained an unbiased technical opinion on ENPO. As we stated in our initial profile, on a technical basis, if volume came into ENPO in our opinion we felt that ENPO could trade to $.10 near term.

With ENPO rising over 100% in 2 days (congratulations to those that are participating) on nice volume, as depicted below by the Wall Street Analyst.net, In our opinion because of a lack of overhang supply from ENPO's earlier precipitous drop from $.15 to $.03, we now believe if huge volume continues ENPO could trade back to $.15 near term.

TECHNICAL OPINION - ENTREPORT CP (ENPO) - 10/09/2002
Daily
Opinion
BUY
Wednesday's Bullish (up) move, forming a recent high, is accompanied by huge volume (1000% of average), suggesting a continuation to further new highs. This is generally a very bullish sign. Refer to the Short-Term and Long-Term Opinions to keep from buying at a top or short-selling too early.

Short-Term Opinion: OUTPERFORM
On a short-term technical basis, the trend is Bullish (up) and the stock is above its 50-day moving average at 0.03 which also confirms its Bullish (up) trend. The stock is neutral according to the Stochastic indicator (56.71).

Long Term Opinion: N/A
Not enough data for Long-Term Analysis.


THE OPPORTUNITY

On September 4, 2002, ENPO announced that it has signed a definitive agreement with Multi-Fineline Electronix Inc. (M Flex). Under terms of the agreement, ENPO will acquire all of the capital stock of M-Flex to pursue a corporate reorganization, which, upon closing, would result in M-Flex transferring its business to ENPO in exchange for 96.5% of the existing ENPO common stock, and ENPO fully spinning-off its existing business, iSucceed.com, and related training business, www.university.com to its shareholders and certain creditors.

Founded in 1984, M-FLEX, located in Anaheim, California with 100 employees and a 60,000 sq. ft. facility, and Suzhou, China with 1600 employees and a 160,000 sq. ft. facility, manufactures flexible circuits found in products such as laptops, bar code scanners, cellular phones, network equipment, hard drives and power products. In accordance with their "concept to completion" philosophy, M-FLEX USA began attaching components to their printed circuits for their customers. Many of M-FLEX USA’s customers who’s names are in the fortune 500 list, continue to increase their outside assembly requirement needs in order to focus on their core competence.

M-Flex revenues for its 2000 fiscal year were $100.6 million with $18.1 Million in EBITDA and for its 2001 fiscal year were $82.7 million with $9.4 Million in EBITDA. M-flex reported $84 Million in revenue for the first 10 months of their fiscal year ending Sept. 2002. It appears M-flex is on target to do over $100 Million in revenues for fiscal year ending Sept. 2002.


VALUATION

In our opinion, there are 2 ways to look at ENPO, 1 fundamentally and 2 technically. On the fundamental side there are 2 public companies’ that pretty much do exactly what M-flex does. The first is Parlex (Nasdaq: PRLX), and the second is Innovex (Nasdaq:INVX). PRLX in the last 12 month’s generated revenues of $87 Million and had negative EBITDA of about $9.79 Million Dollars, and a Market Cap of $70 Million. INVX in the last 12 month’s generated revenues of $140.5 Million and had positive EBITDA of $8.49 Million Dollars, and a Market Cap of $35 Million (makes no sense, but that’s the stock market).

What does all this mean? In our opinion if we were to compare apples to apples, one could assume M-flex could be valued in the Stock Market between $35-$70 Million Dollar Market Cap by comparing M-flex to their competitors.

On the technical side, ENPO was delisted from Amex this past May. At the time of the delisting ENPO was trading at about 15 cents per share. ENPO, first listed on the pink sheets, and within a few weeks found its way to the OTCBB whereby it was quoted .04bid and .11offered. Not a lot of stock has traded from $.15 to its current levels, in other words there appears to be not much overhang from these levels to $.15.

In our opinion, on a technical basis, if volume or strength comes into ENPO near term, then we believe ENPO could trade to $.10 pre share near term because of a lack of overhang supply.

On a fundamental basis, in our opinion, if the merger were to be completed by Q1, 2003, as contemplated, and the market were to value ENPO/M-flex slightly above the midpoint market cap of its peers, then $.10 per share would be a fair valuation.

If ENPO only traded back to $.10 per share, based on the proposed merger with M-flex, this would value ENPO/M-flex at about $57 Million Dollars.


CONCLUSION

Every once in awhile the micro-cap investor is shown a pretty good speculative investment, while weighing risk reward in our opinion ENPO could be this company.

We believe the only risk in owning ENPO is that merger with M-flex falls through, and ENPO becomes another statistic by going out of business and you lose all your money.

That’s the downside, on the upside if the merger is completed, in our opinion you will own an 18 year old company that generates over $100 Million in revenues and makes money.

ENPO is the lowest priced stock that we have ever profiled. We did our own calculations because of the price of the stock, follow us along: a 5000 share investment @ $.03 = $150 dollars, 5000 shares @ $.04 = $ 200 dollars and so on.

It is not our job to solicit offers to buy or sell any security; all we are paid for is to email these profiles to millions of our recipients.


 

******* Important Notice and Disclaimer: Please Read *******

Disclaimer
Investor Insights, and affiliates (II), publishes reports providing information on selected companies that II believes has investment potential. II is not a registered investment advisor or broker-dealer. This report is provided as an information service only, and the statements and opinions in this report should not be construed as an offer or solicitation to buy or sell any security. II accepts no liability for any loss arising from an investor's reliance on or use of this report. An investment in ENPO is considered to be highly speculative and should not be considered unless a person can afford a complete loss of investment. An affiliate of II has been hired by a third party, and has received seven hundred and fifty thousand free trading shares of common stock for the publication and circulation of this report. II intends to sell all or a portion of the of the ENPO stock at or about the time of publication of this report. Subsequently II may buy or sell shares of ENPO stock in the open market. This report contains forward-looking statements, which involve risks, and uncertainties that may cause actual results to differ materially from those set forth in the forward-looking statements. For further details concerning these risks and uncertainties, see the SEC filings of ENPO including the company's most recent annual and quarterly reports

 


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