Satellite ISPs are Hot

Heading our list this week is Ezenet Corporation (EZE - TSE) which we profiled here on Feb. 7th. The company has been around for over two decades with every one of the last twenty profitable. Engaged in the hot B2B sector, the company provides high speed Internet access to business and also specialized software and data processing outsourcing for the financial sector. It's client list is like a Who's Who of Canadian finance - the Bank of Montreal, Newcourt Credit Group, First Marathon Mortgage Corporation, AGF Trust Company, Peoples Trust Company, Merrill Lynch, and MRS Trust Company (a division of Mackenzie Financial).

In November it reported a quarter to quarter jump of 23% in both revenues and earnings per share. The stock is just being discovered by the investment community and the surge this week - up 73.91% - comes on the heels of the appointment of Kasra Meshkin, formerly Vice President of Research and Development, to the President's chair. There is no doubt some anticipation of another glowing quarterly to be released soon. Ezenet is in its second consecutive week of double digit gains.

Second on our list is a company we just moved up from our Penny Stock List - Galaxy Online (GOLI - CDN). In a previous incarnation the company was Rux Resources - a junior mining company, but like so many miners, this one became an Internet company last year by acquiring Galaxy Internet, an Internet Service Provider. The takeover completed in December and since then there have been a flurry of announcements including a number of strategic alliances.

Galaxy Online provides conventional Internet access in selected urban areas, but is making a name for itself in rural areas that are under-served using bi-directional satellite reception and transmission as a means to provide urban-quality ISP service to small towns. It is international in scope with offices in Indianapolis and Toronto.

The stock moved up sharply this week - 72.41% - with the appointment of Glen Kaiser as President and Chief Operating Officer. A former executive with Lucent and AT&T, Mr. Kaiser stick handled the launch of AT&T's WorldNet National ISP services in 1996, guiding it to become the second largest ISP in the U.S. in a short twelve months.

Another new addition to our list, OnSat.net Canada Inc. (ONS - CDNX). The Canadian arm of the American OnSat.net, this company also is in the business of providing Internet access to rural areas using bi-directional satellite transmission. Formerly PanContinental Marketing Corporation, the company acquired the Canadian rights to OnSat.net in December. The stock has risen sharply from around fifty cents in January to $6.00 on Friday. Its gain for the week is 64.38%, the fourth consecutive week of double digit gains for OnSat.net Canada.

And fourth on our list is Descartes Systems Group (DSG - TSE), up 53.89% for the week. Another B2B company, Descartes focuses on what it calls e-fulfillment, the coordination of real-time supply/demand balancing through its Internet-based Global Logistics Network. This week the company announced the acquisition of privately held E-Transport Inc. of Pittsburgh, Pennsylvania. The acquisition creates what the company believes is the largest Internet logistics network in the world.

Also posting multiple weeks of double digit gains are four week gainer Pinetree Capital (PNP - CDNX) and three week gainers Earthramp.com (ERA - CDNX). USA Video (US - CDNX) and Carbiz.com (CZ - CDNX). Up for the second consecutive week are Sierra Wireless (SW - TSE), 724 Solutions (SVN - TSE), EcomPark (EKP - CDNX), MDSI Mobile Data Solutions (MMD - TSE), Timebeat.com (TBE - CDNX) and Open Text Corporation (OTC - TSE).

On the downside, Unique Broadband Systems (UBS - CDNX) is in the second week of a slump.

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