Lethean (IntenseCoin) Explained: The Decentralized VPN Cryptocurrency Project

Lethean (IntenseCoin) Explained: The Decentralized VPN Cryptocurrency Project

by Jacob Woods What is Lethean Lethean, incorporated in the UK, has created a decentralized VPN marketplace. Lethean has been described as the “first Mainnet P2P Virtual Private Network backed by the Blockchain.” Users can take advantage of the browser extension or the full client VPN. Anyone can mine the coin or Read More »



The 3rd Quarter has come to a close and these are the numbers:
the Dow gained 2.86%, the S&P was up 3.15%, and Nasdaq surged 4.61%.
Dow and Nasdaq are still in negative territory YTD.
Pennyheaven Super 7 finished the 3rd Quarter +36.85%

So far every quarter has been better than the last. We see a December rally and we could experience what we did last year, our YTD high was the last day of the year.Don’t recall ever seeing this on the OTCBB – record earnings and a cash dividend.
Scientific Industries SCND (3.16) announced record earnings for fiscal year 2005 and
a .09/share cash dividend. (They paid a .07/share dividend in 2004).

Diluted earnings per common share in 2005 – $ .29/sh
What do they do? Who cares (just kidding).
Scientific Industries, Inc. engages in the design, manufacture, and marketing of a variety of
laboratory equipment primarily in the United States and Canada, as well as internationally.
It manufactures mixers and shakers, rotators/rockers, refrigerated incubators, and magnetic
stirrers. The company’s products are used for research purposes in research laboratories,
universities, hospitals, pharmaceutical companies, clinics, medical device manufacturers,
and other related industries. The company sellsits products through a network of laboratory
equipment distributors, as well as through industry trade shows, trade publication advertising,
brochures and catalogs, independent sales representatives, and its Web site. Scientific
Industries was formed in 1954 and isbased in Bohemia, New York.

980,207 s/o as of 9/02/05
(That’s not a typo, only 980k s/o)
Web Site: http://www.scind.com


Pennyheaven Super 7 hit new YTD highs last week every day but Monday.
Thanks largely to ALTX, we closed Friday + 49.53%.

Just for the record I sold ALTX during the run up. It was the second time this year I got
in and out of this company with at least a 100% return. The way it held up Friday makes
me think I sold too early. With oil prices at record levels, the stock could certainly go higher
however experience has taught me not to look a 250% increase in the face and ask what
do I do? To me the answer is obvious. My hope right now is that falls back to cash levels
so I can buy it back once again.

Found a nice write up on SpaceDev Inc SPDV (1.47)


If you recall these are the guys that helped Burt Rutan and Paul Allen build the world’s
first private spacecraft to the edge of space to win the $10 million Ansari X PRIZE on
October 4, 2004. Love these guys long term and they are hovering near their 52-week
low. I took a little taste at 1.48 (with a mental stop loss at 1.40)
6-month revenues ending 6/30/05 are up over 50%
6-month net income .01/share
$5.4 million cash; zero long term debt

22,264,183 s/o as of 8/10/05
Web Site: http://www.spacedev.com

Up in a Down Market

Major indices can’t quite get into the black, NYSE is down less than 1% YTD.
However, Nasdaq is still down 5% and the Dow is down 2.5%.

The OTCBB $Volume is still trending downward. May 2005 hit a new YTD low.

Pennyheaven Super 7 seems to be holding its own.

I should have been more patient with ITSI. They recently announced that theirwholly owned subsidiary, Unisyn Solutions, Inc., has entered into an agreement with Election Systems & Software, Inc. for ES&S to manufacture and distribute a Precinct Ballot Counter developed by Unisyn. This represents an entirely new revenue stream for ITSI. (Note of caution: the bid/ask spread is still outrageous).

Stocks Up in a Down Market
AVTX (.056) They began the year at .03.Advance Technologies, Inc. develops infrared enhanced vision technology for commercial solutions and applications. It licenses and develops applied infrared enhanced vision solutions for use in diverse industries, including aviation, recreational vehicles, commercial trucking, marine, security, and fire fighting applications. The company is developing a night vision system with applications in the military, as well as civil. In addition, it is involved in the development of other electro-optical mechanical devices.
37.8m s/o

Web Site: http://www.avtx.com

CORG (2.10) up 100% YTD. Cordia Corporation, a business services holding company, through its subsidiaries, provides local and long distance telecommunications services. The company offers an integrated set of telecommunications products and services, including local exchange, local access, domestic and international long distance telephone, and a suite of local features and calling plans with service offerings to small business and residential customers in New York, New Jersey, and Pennsylvania.

4.57m s/o
Web Site:

EDGR (2.42) Began the year at 1.50 was as high as 4.00. EDGAR Online, Inc. provides financial and business information of global companies contained in the U.S. Securities and Exchange Commission filings.

4 million cash.
24.92m s/o
Web Site:

PHST (1.62) Opened 2005 at .95.
Pharsight Corporation engages in the development and marketing of software products and scientific consulting services for pharmaceutical and biotechnology companies. The company’s products include software for clinical trial simulation and computer-aided trial design; for the statistical analysis and mathematical modeling of data; and for the storage, management, and regulatory reporting of derived data and models in a data repository.

19.19m s/o
Web Site:

SMID (1.62) Opened 2005 at .93Smith-Midland Corporation engages in the invention, development, manufacture, installation, leasing, licensing, sale, and marketing of precast concrete products for use primarily in the construction, utilities, and farming industries.

4.45m s/o
Web Site:

TSTA (.74) Opened 2005 at .47
TurboSonic Technologies designs and markets air pollution control products to industrial customers worldwide.
Web Site:


OTCBB $Volume in April dropped to its lowest level since November 2004. It has been the 4th straight monthly drop. No coincidence then that the week of April 15 was a YTD low for the Pennyheaven Super 7. Lucky for us we have had three straight up weeks since.

LKA International LKAI (.28) announced that their Board of Directors has approved a stock repurchase program.
LKA International, Inc. is a natural resources development company that owns the Golden Wonder mine, a producing, high-grade gold property, located near Lake City, Colorado. Additionally, LKA owns the Ute Ule silver mine (currently inactive) and milling facility, which are also located near Lake City, CO. The Company currently plans to permit and develop a new drift approximately 1,000 feet below the current workings of the Golden Wonder Mine to extend the size and productivity of the mine.

12,750,317 s/o as of 4/14/05
Website: http://www.lkaintl.com

Defense Industries International DFNS (.56) is starting to look attractive.Stock price is down ~ 50% YTD. Net income for 2004 was .02/sh compared to .01/sh in 2003.Defense Industries International, Inc. is a leading manufacturer and global provider of personal military and civilian protective equipment and supplies. Defense Industries’ main products include body armor, bomb disposal suits and bullet-resistant vests and jackets; ballistic wall covers, helmets, plates and one-way protective windows; personal military equipment, battle pouch units and combat harness units; dry storage units, liquid logistics, tents and vehicle covers; winter suits, sleeping bags and backpacks. The Company’s manufacturing facilities meet American EQNET and international ISO 9001 standards. Major customers include the Israel Defense Forces, the North Atlantic Treaty Organization (NATO), the United Nations Peacekeeping Forces and other U.N. organizations.
25,350,000 s/o as of 3/23/05
Web site: http://www.defense-industries.com


Feels like we’re swimming against the tide. All indices have started the year
in the red. Small caps in particular are getting whacked after hefty gains in
late 2004. The small cap-heavy Russell 2000 is -5% YTD.
Pennyheaven Super 7 is in the black (+1.4%) and considering the above I’ll take it.
To see performance click the following link

Regulation SHO, designed by the SEC to combat naked shortselling, went into effect
on January 3rd. We applaud this action and think it will add much needed credibility to
the OTCBB market.
Basically, if any security is deficient (“fails to deliver”) more than10,000 shares (and
those shares are more than 1/2 of 1% of totaloutstanding shares) for five consecutive
days, then that security is flagged and put on the Regulation SHO Threshold list, which
is published daily on the Internet. After 13 days on the list market makers who are short
must then buy on the open market.

January 10, 2005 was the first day the threshold list was published. There were 374 stocks
on the NASDAQ list, including 96 on Naz, 29 OTCBB, and 254 on the Pink Sheets.
In comments to the U.S. Securities and Exchange Commission, C.Austin Burrell, who is
providing litigation support and research for the law firms, said…illegal Naked Short Selling
has stripped hundredsof billions, if not TRILLIONS, of dollars from American investors,” and
have resulted in over 7,000 public companies having been “shorted outof existence over the
past six years.” Burrell said some experts believe as much as $1 trillion to $3 trillion has been
lost to this practice.

What is Regulation SHO?

Illegal Short Selling and the new SEC short selling rule

SEC responses to Frequently Asked Questions

Regulation SHO Threshold List (includes OTCBB)

Record Revenues and Radar Watch
Wireless Age Communications WLSA (.86) First they announce record revenues
for the 4th quarter (2004).
Then they announce insider buying of 800,000 shares at .75.

Wireless Age is a consolidation of Retail, Wholesale and Engineeringenterprises within
the high growth wireless products and services industry in North America. Wireless Age
retail outlets are in Western Canada with expansion plans for the rest of the country. The
North American Wholesale Distribution operations are conducted under Wireless Source
distributing wireless devices and accessories to both consumer and industrial markets.
The engineering group, Wireless Works, is focused on the development of both consumer
and industrial wireless products and networking infrastructure.

23,495,216 s/o as of 11/12/04
Website: http://www.thewirelessage.com

Robocom Systems International, Inc. RIMS (.81)
Robocom Systems International Inc. develops, markets and supports advanced Warehouse
Management Systems software that enables customers to expandproductivity, reduce costs
and increase profits.

Global revenue from radio frequency identification tags is poised to grow from $300 million
in 2004 to $2.8billion in 2009, according to a study released by market research agency
In-Stat. Leading the charge is Wal-Mart stores who are requiring that their largest suppliers
attach RFID tracking “tags” on shipments sent to Wal-Mart warehouses. Target Corp.,
Albertsons Inc. and the U.S.Department of Defense (to name a few) have similar initiatives.

What is RFID?

RFID gets Wal-Mart boost

We’ve been following RIMS since late 2003, which was a big year forthem, their stock
price appreciated ~ 800%. 2004 was mostly flat withtrading between .60 and .80 all year.
Recently they broke out on highvolume after announcing their 9th consecutive profitable

(Please note: RIMS is not a pure RFID play, they don’t make thechips. Their business
is Warehouse Management System softwarethat supports RFID).

4,540,984 s/o as of 1/03/05
Website: http://www.robocom.com