Dow Jones 12589.07 -238.42 1:22 pm PST, January 8, 2008 NASDAQ 2440.51 -58.95 For info, visit access.smallcapnetwork.com S & P 500 1390.19 -25.99 Change your subscription status here Russell 2000 704.86 -19.09 VOLUME 08 : ISSUE 3 Paninis In The Windy City - Spicy Pickle Expands  In this edition...  1) Spicy Pickles Planted In Chicago  1) Marine Growth's Gettin' There  2) ISE Sentiment Index - Oh So Close  Move over deep dish pizza, there's a new flavor coming to the windy city. Chicago residents have already been introduced to the Spicy Pickle's (OTCBB: SPKL) food, now that the city's first Spicy Pickle restaurant is up and running there. Per today's press release though, a new franchisee wants to open five more throughout the greater Chicago area. Add 'em to the growing list of Spicy Pickles now open or on the way.  As excited as we are for Chicagoans' taste buds (as we've said repeatedly, go try the food), we're even more excited about this latest layer of expansion. The grand total of current or future restaurants now comes to 110... 33 open, and 77 more already signed for.  I'll ask the same rhetorical questions I've been asking...(1) why are these franchisees signing for multiple locations before they even get the first one opened? And (2), how does a restaurant franchise system go from 26 stores to 33 stores in 15 weeks, and also have 77 more on the way for 2008?  The question may be rhetorical, but my answer isn't - I think the company's in high gear. The full press release is at the bottom of today's newsletter. So how's the stock doing in the meantime? Take a look at the nearby chart. Seems to be on hold, as it has been for a few days. All things considered, that's just fine - the market has taken a couple of beatings that SPKL seemed to be able to withstand. As long as it holds its ground now, I think it should stay in a good position to lead when the environment improves.  As it turns out, the $1.30 level has emerged as a support area. The $1.10 has also turned out to be an important line in the sand, though I hope we don't have to prove it again.    MGRW, Slowly But Surely  Remember how we said we thought Marine Growth Ventures' (OTCBB: MGRW) trading volume was going to ramp up and the spread was going to tighten? Well, we hope you didn't lose sight of the notion in the midst of all the holiday and year-end madness. The stock has indeed shown us more activity of late....perhaps enough to go fishing again on a limited basis.  One of the few issues investors were facing with this stock wasn't the company activity - they seem to be on the right track. The issue was a relatively thin market. Low volume was keeping the spreads wide, but wide spreads were keeping volume down...quite a catch-22. We liked the investment potential, but also suggested being smart about taking on positions. Since then, we've seen better volume. And, the bid/ask differential has spent noticeably more time at low levels too. I still don't know that somebody could take on a massive position, but it looks as if there's enough for sale at a good price that some more of you could take on humble portions. More importantly, slowly but surely, I feel the MGRW market is gelling. It's just taking a little time. Patience.  That being said, I still think Marine Growth is the kind of company that's likely to be an overnight success. We don't hear from the company all that often, but when we do, it's generally big stuff. With a couple of different revenue prospects newly on the radar (like the MV Aurora timeshare sales, or even the hauling of construction materials), I can't help but think we're one press release away from seeing the MGRW buyer's market turn into a seller's market.   ISE Sentiment at Multi-Week Lows  In Saturday's update we commented that the ISE Exchange's Sentiment Index was at multi-week lows, but hadn't yet fallen to a rock-bottom 'blowout' type of level. Though not absolutely essential to make a solid bottom for the market, it certainly helped the issue when the ISE Index got to (or under) 75. My key worry with the index on Saturday - only a mild pullback to 93 - wound up being a valid worry. There was clearly more selling in store, as we learned today. (Like I said then, these tools aren't super-precise). There's something of a silver lining though...today's reading of 83 has pushed the index very close to that lower Bollinger band, as the nearby chart shows. I still don't know if it will be enough, as the last major bottoms have all started when the ISE Sentiment Index actually fell under the lower band line. But, it's at least a step closer.    Spicy Pickle(r) Announces 5 Store Franchise Agreement in Chicago area.  New Franchise Sale will add to existing Spicy Pickle restaurant in Chicago. DENVER, CO--(MARKET WIRE)-January 8, 2008 -- Spicy Pickle(r) fast casual restaurants (OTC BB: SPKL.OB) today announced the sale of a multi unit restaurant development to a new franchise developer in the greater Chicago metropolitan area, increasing the total number of franchises the Company has sold to 110.  A new franchisee has entered into a franchise and development agreement to open the first Spicy Pickle(r) Restaurants in the suburbs of Chicago including Oak Brook, Naperville, Lemont and Orland Park. The new franchisee learned about Spicy Pickle from visiting the existing restaurant at 2312 Lincoln Ave., in Chicago's Lincoln Park district.  Marc Geman, CEO of Spicy Pickle(r) Franchising, Inc. commented: "We were waiting for the right franchisee to help continue the development of Spicy Pickle in the Chicago market. Obviously the Greater Chicago Metropolitan area can support a large number of restaurants and centralizing this franchisee's efforts in the western and south. western suburbs leaves plenty of room for continued growth in this market."  Mr. Geman further commented, "Markets in large metropolitan areas like Chicago support huge numbers of the typical Spicy Pickle customer. However the very size of the market and competition makes it challenging to get brand recognition. Our non-preservative meats and interesting flavor combinations in our sandwiches along with the customer's ability to build their own sandwich from high quality ingredients with toppings and spreads from around the world sets us apart from the every-day sandwich shop and provides a delicious and healthy alternative for customers seeking quality food. Our new franchisee will deliver that to these markets and we are confident will generate further interest in our concept for the Chicago area."  About Spicy Pickle(r):  Founded in 1999, Spicy Pickle(r) Franchising, Inc. (OTCBB: SPKL) serves high quality meats and fine artisan breads, baked fresh daily, along with a wide choice of eight different cheeses, twenty-two different toppings, and fourteen proprietary spreads to create healthy and delicious panini and sub sandwiches with flavors from around the world. As a leading "fast-casual" concept, Spicy Pickle(r) offers menu items that are far beyond traditional fast food -- but without the price point of casual dining. The hallmark of a Spicy Pickle(r) restaurant is quality, service and an enjoyable atmosphere. The company is headquartered in Denver, Colorado, with franchised locations now open across 12 states and many more in development nationwide. For more about Spicy Pickle(r), including franchise information and inquiries, visit http://www.spicypickle.com.  Forward-Looking Statements:  Certain statements in this press release, including statements regarding the number of restaurants we intend to open, are forward-looking statements. We use words such as "anticipate," "believe," "could," "should," "estimate," "expect," "intend," "may," "predict," "project," "target," and similar terms and phrases, including references to assumptions, to identify forward-looking statements. The forward-looking statements in this press release are based on information available to us as of the date any such statements are made and we assume no obligation to update these forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include, but are not limited to, the following: factors that could affect our ability to achieve and manage our planned expansion, such as the availability of a sufficient number of suitable new restaurant sites and the availability of qualified franchisees and employees; risks relating to our expansion into new markets; the risk of food-borne illnesses and other health concerns about our food products; changes in the availability and costs of food; changes in consumer preferences, general economic conditions or consumer discretionary spending; the impact of federal, state or local government regulations relating to our franchisees and employees, and the sale of food or alcoholic beverages; the impact of litigation; our ability to protect our name and logo and other proprietary information; the potential effects of inclement weather; the effect of competition in the restaurant industry; and other risk factors described from time to time in our SEC reports.      We Value Your Feedback   Got comments, questions or suggestions? Send 'em on over: Email the Editor If you wish to send a written request or inquiry, please send it to our physical address: TGR Group, LLC 4653 Carmel Mtn Rd Suite 308 #402 San Diego, CA 92130 Subscribe Information is power and timely information is profitable. Become informed and profit from Small Cap Network Profiles and Trading Alerts by becoming a Preferred Member today. There is no cost associated with your email subscription. Add your email address below and make sure to check your email inbox and confirm your opt-in request to start receiving the Small Cap Network Email Newsletter on a regular basis. To ensure newsletter delivery, you can add any additional email addresses you may have to the Small Cap Network Member List. Receiving the Small Cap Network Newsletter in multiple locations is the best way of making sure you don't miss the next investing or trading opportunity! 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All companies are chosen on the basis of certain financial analysis and other pertinent criteria with a view toward maximizing the upside potential for investors while minimizing the downside risk, whenever possible. Moreover, as detailed below, TGR accepts compensation from third party consultants and/or companies, which it features in the publication and circulation of SCN. To the degrees enumerated herein, SCN should not be regarded as an independent publication.  Click Here or go to http://access.smallcapnetwork.com/compensation_disclosure.html to view our compensation on every company we have ever covered, or visit the following web address: http://access.smallcapnetwork.com/profile_disclosure.html for our full profiles and http://access.smallcapnetwork.com/short_term_alerts.html for Trading Alerts.  TGR Group, LLC has been paid a fee of $30,000 cash and 100,000 shares of newly issued restricted stock by Marine Growth Ventures, Inc. for coverage of the Company. TGR Group, LLC has been paid a fee of $30,000 cash and 1,000,000 shares of newly issued restricted stock by Applied DNA Sciences Inc. for coverage of the Company.  Larry Isen, the editor and publisher of the OTC Journal, through various entities he controls, has purchased 1,200,441 shares of Spicy Pickle at an average cost of $.2125 per share. These purchases were made in Spicy Pickle private offerings. The aforementioned purchases were made between August of 2005 and August of 2006. On 12/15/07, on entity controlled by Larry Isen participated in an additional financing wherein 12 shares of convertible preferred, converting at $.85 into 120,000 shares and 90,000 warrants with an exercise price of $1.60 were purchased. In addition, Larry Isen has received 785,000 shares of Spicy Pickle common stock for consulting services. In addition, MarketByte LLC, an entity controlled by Larry Isen, has received a fee of $30,000 cash, and 300,000 newly issued restricted shares for coverage of Spicy Pickle. TGR Group LLC, the publisher of the Small Cap Network, has received $30,000 and 300,000 newly issued restricted shares for coverage of Spicy Pickle. Mr. Isen is an affiliate of TGR Group. In addition, two other individuals affiliated with TGR Group have purchased a total of 300,000 shares at $.25 per share and received an additional 70,000 for consulting services. Current positions of the aforementioned can be found at www.otcjournal.com and access.smallcapnetwork.com in the Spicy Pickle information section.  From time to time TGR sells shares received as compensation for coverage of client companies. Shares received are sold in the open market. 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