Dow Jones 10619.03 -45.70 7:58 am PST, February 21, 2004  NASDAQ 2037.93 -8.03 For info, visit access.smallcapnetwork.com S & P 500 1144.11 -2.95 To be removed, please click here Russell 2000 579.89 -2.70 VOLUME 04: ISSUE 13  Feature: Spectrum Sciences: A good year already? With the shares of Spectrum Sciences (OTCBB: SPSC) up 22 percent already in 2004, should the company merely coast for the remainder of the year? Au contraire, mes amis. What the chart above doesn't show is that the move from our Alert in mid-December of $1.80 to a current level of $2.20 has been accompanied by growing trade volumes--an extremely significant technical factor. From relative obscurity in late 2003, when the stock virtually traded 'by appointment' it now routinely trades 100's of thousands of shares daily.  Technically, with the shares hitting new highs on increasing volumes, we feel that the outlook remains bullish for Spectrum Sciences. With the German Stock Exchange listing announced this week, influence will undoubtedly continue to grow as euro-visibility and market access make it easier for a huge pool of international investors to trade the stock. Given the aggressive nature of management to increase Spectrum's visibility as well as the potential of significant contracts and corporate developments to come, we reiterate our call that investors should continue to accumulate the shares of this already profitable company. Spread the word: Security Over the next few months, Spectrum plans to continue to present its technology to both large defense companies and the security community at large. In March, it will participate in the FOSE Conference in Washington DC. The conference will be attended by nearly 20,000 national and international government IT professionals within the security sector, including representatives from the Homeland Security Department. In May, Spectrum will sponsor a SafeRange users conference at its corporate head office in Fort Walton, Florida that will bring together--among many others-- licensees from all branches of the US Military, The Department of Defense, The Royal Air Force and as well as its newest licensee, the German Air Force. Organized at the request of customers, the conference will outline the benefits of the technology as well as the future plans for SafeRange development. As part of its plan to 'get the word out', Spectrum has also participated in several web-based audio interviews. Bringing it Homeland As we have mentioned in other Homeland Security-related pieces, the budget for this sector in 2005 looks to be around $40 billion dollars. Most exciting within this is Spectrum's SafeBorders initiative. Due to mixed signals with President Bush's Guest Worker program, January was a record month for undocumented people to illegally enter the US over the Mexican border. Doubtless, Border Security will have to be beefed up and tightened and, as we have stated before, SafeBorders could well be a lynchpin in this endeavor. Over the next six months, Spectrum has aggressive plans to market this technology. Needless to say, SafeBorders may well be the right solution at what is certainly the right time. For those who need reminding, SafeBorders is a suite of hardware and software that can be used to pinpoint areas of illegal entry through ground and aerial surveillance. As stated in the Spectrum's February 9th press release, the technology has already seen strong interest from the Department of Defense as well as being marketed to Homeland Security.  We look for more and substantive announcements from Spectrum over the next 3-6 months. Risk oriented investors who have accumulated shares should continue to do so and, although the stock has risen nicely in the last 2 months, for those who have not yet taken even a small position, we continue to believe that the best is yet to come for this unique and profitable company.   We Value Your Feedback Got comments, questions or suggestions? Send 'em on over: Editor@smallcapnetwork.com If you wish to send a written request or inquiry, please send it to our physical address: TGR Group, LLC 3525 Del Mar Heights Rd #334 San Diego, CA 92130 Unsubscribe Here D I S C L A I M E R : The SmallCap Digest is an independent electronic publication committed to providing our readers with factual information on selected  publicly traded companies. SmallCap Digest is not a registered investment advisor or broker-dealer. 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