BlueStone Capital Partners Announces Investment Opinion on TTR Technologies.Business Editors NOTE TO EDITORS: The following is an investment opinion issued by BlueStone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Capital Partners NEW YORK--(BUSINESS WIRE)--July 13, 2001 BlueStone Capital Corp. Upgrades TTR TTR Transthyretin TTR Ticket To Ride (World Snowboard Tour) TTR Transformer Turns Ratio (electric power transmission and distribution) TTR Time To Repair TTR Time to Read Technologies to Strong Buy from Buy Senior analyst Jean W. Orr Orr , Robert Gordon Called "Bobby." Born 1948. Canadian-born hockey player. He led the National Hockey League in scoring in 1970 and 1975 and was the first defenseman to score more than 100 points in a season. Noun 1. , CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. upgraded her investment rating on TTR Technologies today (TTRE- NASDAQ- $5.77) to Strong Buy from Buy. Her 12-month price target is $12.50. HIGHLIGHTS - TTR has announced that key encoder and testing companies for the music industry have adopted the SAFEAUDIO copy protection technology. Those companies include Toolex Data Handling, Eclipse Data Technologies, DCA Inc., and DaTARIUS Technologies GmbH. We estimate that each company spent about $250,000 to implement this technology. - The SAFEAUDIO Technology has not yet been adopted by music labels or publishers, but the adoption by the key encoder and testing companies means that SAFEAUDIO could be rapidly deployed at CD manufacturing facilities around the world. - Various major and independent labels are currently conducting commercial pilot programs of the SAFEAUDIO technology. There have been some recent rumors that these tests were not going well but, according to Macrovision management, test results have had positive results. - Once this technology is accepted by music labels and publishers, TTR will begin to receive royalty revenues. Our model assumes modest revenues in the third quarter of calendar 2001 with more significant revenues in the fourth quarter, though the timing of such revenues is uncertain given that there are no contracts currently signed and testing is underway. - We believe the signals are positive for the adoption of the SAFEAUDIO technology by music labels and publishers and, with the adoption of the technology by the key encoder and testing companies, we are one step closer to implementation. - Based on the progress we see toward the commercialization of the SAFEAUDIO technology, we are upgrading our rating on TTR stock from Buy to Strong Buy. We continue to rate the stock high risk. |
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