Dow Jones 10092.15 +69.33 10:53 am PST, December 16, 2003  NASDAQ 1913.83 -4.43 For info, visit access.smallcapnetwork.com S & P 500 1072.10 +4.06 To be removed, please click here Russell 2000 532.87 -2.38 VOLUME 03: ISSUE 81  Feature: Spectrum Provides SafeBorders Disclosure On December 11th, SmallCap Digest brought our readership a Trading Alert on Spectrum Sciences and Software (OTCBB: SPSC). In that piece we profiled the company's product development of an exciting technology named SafeBorders--a state of the art border security system. Today, the company filed an 8k providing additional disclosure on SafeBorders. I recommend you go to the 8K filing and read it, as this could turn out to be a very important component in the company's ongoing growth strategy. Click Here to access the filing directly. We believe that investors should begin to accumulate Spectrum shares based on its low price to sales ratio, cutting edge products--both current and those under development--for superior profit potential over the next 12 months. Even though Spectrum only began trading on the NASDAQ Bulletin Board December 8th, 2003 there has been immediate interest in the shares as the increasing volumes indicate. Accumulation should continue between $1.70 and $1.90 as more investors find SPSC on their radar screens and the company brings out more news, including future details on the progress of the SafeBorders technology.  No one would deny that the defense budget is both huge and growing. Within the billions ($30 billion budget for Homeland Security) of dollars available for the best and brightest technologies, it is our opinion that SafeBorders may yield significant revenue potential for Spectrum and its shareholders. As border security is arguably the number one challenge facing the US Government and the Homeland Security Department in particular, Spectrum, we believe, is well positioned to address these very real logistical concerns. According to the Company, it feels that its SafeBorders technology is "ahead of competition in this area." Given the critical and immediate need for border security, investors will quickly see the potential if Spectrum is, as we suspect, first to market with this technology. SafeBorders development is a contiguous border surveillance product related to one of Spectrum's mature mainstay offerings, SafeRange--a complete solution geared to provide a range developer with the tools to effect the planning of logistical information including geographic, environmental and politic boundary information. The technology is employed to develop, realign or expand new and existing range management plans for the Air Force, navy and many foreign governments. Ultimately, this full planning solution allows the development of Weapon Safety Footprint Areas (WSFA)--obviously critical to the safe management and deployment of weapons training and testing. As well, SafeRange's hazard analysis feature allows the running of different mission and attack scenarios can be run with the attendant risk assessment prior to a mission being flown. In essence, the robust technology is all about safety, both for the military and the With 2002 sales exceeding $12 million and 9-month 2003 revenues, which, at $10 million-plus were 17 percent ahead of the same period 2002, Spectrum isn't some one-trick pony. As the company acquires new contracts, we believe that those quarterly sales numbers will increase significantly. As well, the aggressive paying down of debt by 17 percent to $2,657,716 and an order backlog of almost $11 million augurs well for the company's growth and continued profitability. We will continue to closely monitor the company and bring you the latest developments regarding SafeBorders and other products the company has under development as well as new contracts details as they are made available.     If You Haven't Already, Sign Up For Your FREE Preferred Membership! Over the past year, we've brought you 13 Trading Alerts. If you had invested $1000 in each one, your $13,000 investment would have grown to $23070, if you had sold, say, Friday November 7th, to pick a day. That's a 78 percent return in a less than a year. The best? Obviously, Cel-Sci. The worst? ThinkPath. If we strip those two out--the highest and lowest returns--the return on your $11,000 investment would have been a very respectable 51 percent. Not too shabby. By comparison, the S&P index has returned about 20 percent over the last year. The NASDAQ--to which we also alerted you at the low in March 2003--has returned around 40 percent in the same period. The NASDAQ Tracker (NASDAQ: QQQ) did slightly better than its benchmark having risen 45 percent. Oh yes, we told you about that one, too at $24 in February 2003. Now it's $35. And we're only looking at Trading Alerts. I suspect if we included all of our Company Profiles (check our Track Record), the numbers would likely have been even better. The best is yet to come. Sign up NOW! Joining our NEW Preferred Member Program is easy and simple. Just follow this quick two-step process: Opt-in your email address, then, make sure and confirm the request for confirmation you will receive in your inbox. That's it! You'll automatically be in position to start receiving these new special features available only to Preferred Members! To subscribe to the preferred member list, simply click here. Or, to subscribe by email, send a blank email to scn-preferred-subscribe@delta.levelogic.com. 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