ONT - On2 Technologies Inc

On2 Technologies, a leader in video-compression software and solutions, announced yesterday that its award winning advanced video compression scheme, Truemotion VP7, is utilized by Move Network's new Move Media Services for providing broadcast quality video over the Internet.

Move Networks is pioneering a new video publishing system for major media companies and broadcasters who want to take their broadcasts online.

On2 Video codecs are widely used in the Internet, video-on-demand, VoIP, and mobile media markets. On2's software is used by such leading global companies as Adobe/Macromedia, AOL,
Skype, XM Satellite Radio, Sony, CTTNet, VitalStream, and Tencent.

On2 last quarterly revenues of 1.7m grew 226% yoy. The company is expected to loose 4c per share for the current FY (vs -0.09 the year before).

Technically, the stock is taking another attempt to break above the $1.40. Both Worden Brother's Proprietary Indicators TSV and Money Stream are showing strong buying over the past couple of months.

Because this is a speculative play and the stock trades below $2 I'm using a much wider stop than usual.