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Momentum continues to pick up at USEI. After an Investor Conference Call this afternoon, USEI released system sales and revenue guidance for the 3rd and 4th quarter.

Following is an extremely optimistic quote from USEI CEO Mark Clancy.

“We now look toward the third and fourth quarter 2006; we anticipate that we will ship 100 systems during the third quarter and ramp up to 700 systems during the fourth quarter. Together with revenues generated from our manufacturing activities, we anticipate third quarter revenues of approximately $660,000 and fourth quarter revenues of approximately $1,600,000″

Press Release in its Entirety

US Energy announced today that they have acquired Automated Engineering Corporation.

Automated Engineering Corporation is an electronics design and manufacturing company. The primary focus of the company was providing OEM instrumentation and control electronics to the RV and consumer markets. Since its founding, AEC has been a leader in innovative design across a variety of electronic safety, metering, and control devices. In 1991 AEC entered into the field of Contract Manufacturing to better serve the needs of a broader range of clients.

“…With 2005 revenues of approximately $1,800,000, this profitable electronics design and manufacturing company is key to our plan of execution. The core of our patent dual fuel system is contained in our electronic control unit. Bringing this capability in-house allows us maximum control over deliverable timing and quality. Recently we’ve announced substantial agreements for the sale of our conversion systems both in the aftermarket as well as the OEM arena. As we now shift our focus to one of production, delivery and payment, our ability to ensure reliable delivery of a quality product is key to our long-term success. In addition, AEC has a foundation of revenue which we can build upon independent of the in-house production of our patent system,” concluded Mr. Clancy.

NeWave, Inc. continues to set records. Today they announced the enrollment of a record 46,000 new members during the month of May, up 10% over April.

NeWave CEO Michael Hill had this to say, “We are pleased to announce yet another record month in new membership enrollment. Additionally, because of the improved quality of our offerings, our customer loyalty and retention have improved significantly as well, resulting in increased residual income. The improvement has had a direct impact on the acceleration of our growth and we expect it will continue into the foreseeable future.”

We still feel strongly about the growth of both the company and the share price of NWWV. Technically, the stock has had a steady climb on good volume. Fundamentally, they are profitable with record revenues, record customer base numbers and are making acquistitions.

NeWave continues to be a stock to be accumulated.