Printer Friendly Announces Investment Opinion on ObjectSoft Corporation, Methanex Corporation, QXL Ricardo Plc, Whitehall Enterprises, Inc. and PETsMART, Inc.

Business Editors

NOTE TO EDITORS: The following is an investment opinion issued


WESTON, Fla.--(BUSINESS WIRE)--May 29, 2001 is pleased to announce the following Investment Opinions on: ObjectSoft Corporation (OTCBB:OSFT), Methanex Corporation (Nasdaq:MEOH), QXL Ricardo Plc (Nasdaq:QXLC), Whitehall Enterprises, Inc. (OTCBB:WTHL) and PETsMART, Inc. (Nasdaq:PETM).

ObjectSoft Corporation (OTCBB:OSFT) Previous Close unchanged to .14 on volume 66,400 Shares: ACCUMULATE

ObjectSoft Corporation (OTCBB:OSFT) announced its partnership today with Triveni Digital. OSFT and Triveni jointly demonstrated the first implementation of high-speed digital terrestrial broadcasts to kiosks at the National Association of Broadcasters (NAB) Conference at the Las Vegas Convention Center on April 23 -26.

OSFT is new to, and CRG is expecting great things from the company to come. With the volume starting to increase daily, and only about 7 million shares in the float, CRG feels that OSFT can be trading over the $1.00 mark in the short term.

The Triveni Digital-ObjectSoft solution takes full advantage of the extra digital bandwidth available to over-the-air digital broadcasters. "This is a perfect match for ObjectSoft and the DTV broadcaster to leverage their bandwidth to its fullest potential," stated Mark Simpson, President and CEO of Triveni Digital.

Methanex Corporation (Nasdaq:MEOH) Previous Close: $7.08 on vol. 2,251,600 Shares: ATTRACTIVE

As planned, after a twelve-month shutdown, Methanex will restart its Kitimat, B.C. facility on or about July 1, 2001. Methanex will shutdown its Medicine Hat facility for an expected period of three months on July 1, 2001. The temporary closure of Medicine Hat is necessary to balance production levels with global customer requirements. Methanex is the world's largest producer and marketer of methanol.

Methanex Corporation (Nasdaq:MEOH) reported net income of US$68.8 million (US$0.43 per share) for the first quarter ended March 31, 2001. The first quarter 2001 results compare to net income of US$65.3 million (US$0.40 per share) for the fourth quarter 2000 and a net loss of US$9.9 million (US$0.06 per share) for the first quarter 2000. Earnings before interest, income taxes, depreciation and amortization (EBITDA) was US$122.9 million for the first quarter 2001, an increase of US$13.4 million compared to the fourth quarter 2000 and an increase of US$101.8 million compared to the first quarter 2000.

Mr. Choquette added, 'We have excellent financial strength and flexibility. Cash on hand at the end of March 2001 was US$334 million, an increase of approximately US$108 million during the first quarter. We also have an undrawn US$291 million credit facility.' 'Despite a slowdown in global economic activity, the methanol supply/demand balance remains tight due to the rationalization of high-cost methanol production and high North American natural gas prices.'

QXL Ricardo PLC (Nasdaq:QXLC) Previous Close: $4.12 on vol. 4,090,700 Shares: ACCUMULATE

The pan-European online auctioneer QXL Ricardo Plc (Nasdaq:QXLC) and Microsoft have formed a strategic partnership. As part of the agreement QXL will use technologies that are part of Microsoft's '.NET' initiative to improve the user experience for its members across Europe, particularly in terms of multi-device accessibility to its auction services. QXL's services will also be featured via Microsoft's forthcoming Windows XP operating system as well as through the company's Windows Messenger instant messaging service.

Jim Rose, CEO of QXL ricardo said: 'This is a significant partnership for QXL, providing us with an excellent opportunity to further develop our auction management system through enhanced tools and technology. By bringing together two leading e-commerce and technology brands, we are confident that we can better satisfy our customers' ever-expanding needs for enhanced usability and accessibility of our services.'

QXL ricardo plc is a pan-European online auction community. QXL conducts consumer-to-consumer and business-to-consumer auctions in eleven languages and thirteen currencies. The QXL online auction community facilitates trading 24 hours a day, seven days a week in an efficient, convenient and entertaining environment. QXL enables buyers to bid on merchandise and services from across Western Europe which are sold by QXL members and merchants.

Whitehall Enterprises, Inc. (OTCBB:WTHL) Previous Close: $0.022 on vol. 379,100 Shares: ACCUMULATE

Whitehall Enterprises, Inc. (OTCBB:WTHL), announced that the Company's subsidiary, Alternative Lending Group (ALG), preliminarily opened a new office in Tampa, Fla. and additionally has plans to open other offices in Arizona. 'I anticipate the development of this area will significantly increase the Company's loan originations and revenue by 25% with effects being seen by the end of fiscal year 2001,' said James P. Mack, President of ALG.

ALG continues to experience a significant increase in referrals and leads for the Company's loan products. Whitehall recently announced that revenue for the three months ended March 31, 2001 were $2,041,739, up $1,260,712 or 161% from $781,027 in the second quarter 2000. The Company currently maintains a pipeline of mortgage originations estimated at $35 million per month, which is expected to contribute substantial profits to Whitehall's bottom line.

Whitehall Enterprises recently announced revenue for the three months ended March 31, 2001 were $2,041,739, up $1,260,712 or 161% from $781,027 in the second quarter 2000. Expenses for the quarter were $2,039,240. Net loss for the second quarter 2001 was $69,538 compared to a loss of $248,977 for the same period one year ago. Revenue for the six months ended March 31, 2001 were $4,262,535, up $3,161,113 or 287% from $1,101,422 in the second quarter 2000. Expenses for the six months ended March 31, 2001 were $4,262,990. Net loss for the six months ended was $94,719 compared to a loss of $721,099 for the six months ended March 31, 2000.

PETsMART, Inc. (Nasdaq:PETM) Previous Close: $4.99 on vol. 869,100 Shares: ATTRACTIVE

PETsMART, Inc., (Nasdaq:PETM) announced financial results for the first quarter of fiscal 2001, which ended April 29, 2001. The company reported first quarter net income of $1.2 million or $0.01 per share on a fully diluted basis, and including the full results of That compares with reported net income of $587,000 or $0.01 per share, and a pro-forma net loss of ($6.9) million or ($0.06) per share, for the same period last year. Net sales for the first quarter increased 9 percent to $582.0 million, compared with $534.0 million for the same period last year. Comparable store sales increased 3.2 percent. The company also reiterated its 2001 earnings per share projection of $0.23 to $0.25.

PETsMART also reported it has signed a new, secured three-year credit facility agreement with Fleet Retail Finance, Inc., increasing the company's available line of credit to $250 million. PETsMART plans to utilize the new credit line to support the company's growth strategies, strengthen its existing operations, and enhance shareholder value. The new facility upgrades and replaces PETsMART's previous $110 million credit facility, which had no outstanding balance.

PETsMART is the largest specialty retailer of services and solutions for the lifetime needs of pets. The company operates more than 530 pet superstores in the United States and Canada and is the leading direct marketer of pet products and information through its e-commerce site ( and its pet and equine catalog business.

"After a dearth of economic data in recent sessions, investors were given a full plate to digest before and during Friday's trading session, including the first revision to first quarter gross domestic product, April durable goods orders, existing home sales, consumer confidence figures, and a main course of comments from Fed Chief Alan Greenspan. The meal unsettled more investors than it satisfied, suggesting the U.S. economy still has some hurdles to overcome," stated Peter Antipatis. More is available at

About, a wholly owned online asset of Capital Research Group, Inc. (CRG) was developed solely for experienced, risk tolerant investors. Subscribers to receive daily market commentary reports for select companies trading on various markets. Sophisticated investors are also able to receive for free, select, rare research reports and investor kits on up and coming emerging companies while they are still not widely known.

About Capital Research Group Inc.

Through, Capital Research Group (CRG) introduces what in its opinion are undervalued companies to the investment community. Capital Research Group strives to locate companies with enormous growth potential. CRG is a full service public relations / Investor relations firm. For more information about our products or services, please contact CRG at 954-217-9555 or visit us at

All material herein was prepared by Capital Research Group, Inc. (CRG) based upon information supplied by the company or other sources believed to be reliable. The information contained herein is not guaranteed by CRG to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. A company's actual results could differ materially from those described in any forward-looking statements or announcements discussed herein. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. CRG is not a licensed broker, broker dealer, market marker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on CRG has been compensated by third party shareholders or with cash from the company on behalf of one or more of the companies mentioned in this opinion. (800,000 OSFT) CRG intends to sell its shares. CRG has sold approximately 0 PENC shares to date. CRG may sell its shares for less than the target price given in this opinion. CRG's affiliates, officers, directors and employees may also have bought or may buy the shares discussed in this opinion and may profit in the event those shares rise in value. CRG will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.
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Publication:Business Wire
Geographic Code:1USA
Date:May 29, 2001
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