Saturday, January 27, 2006

(Next HotLine Scheduled for Tuesday, February 6, 2007)

One of the original and most basic tenets of The Stewart Report was to publish because we had a new money-making idea, not a new deadline. In that respect, nothing has changed, and, with respect to our portfolio positions and any new information to report, nothing has changed there either. 

In the week just ended, I placed phone calls to all three companies, and came up with nothing. However, because I do believe that announcements are pending, I waited right up until Friday's closing bell to see if any last-minute news item might get squeezed in at the end. No such luck. 

As such, we'll move the HotLine originally scheduled for this time slot forward to Tuesday, February 6. By then, I should have new information on Emergency Filtration Products, Inc. (Nasdaq/BB: EMFP —  $0.72), and possibly something on International Card Establishment, Inc. (Nasdaq/BB: ICRD — $0.23), too. This will also allow time for Larry Spears to return from his annual Super Bowl trip to Las Vegas and get the thing edited. Without him, these documents are almost unintelligible.

As for Amarillo Biosciences, Inc. (Nasdaq/BB: AMAR — $0.80), everyone should be 100 percent current because, by now, each of you should have received the full eight-page Stewart Report we mailed on January 18. Obviously, if you have not yet received your copy, phone us and we'll get you a replacement copy straight away. 

As for the HotLine Passcode: You'll find the new two-digit number printed in that Report as part of the Update Box on International Card Establishment. 

Also enclosed in the Amarillo Report was a subscription payment envelop. I'd like to thank all of you who have renewed so far, especially the long-time members. In reviewing the names on the checks, it was really good to see that so many of them were entirely familiar to me, and have been for years. Thanks again. 

It was also interesting that so many of the investors who re-upped were physicians. In my mind, this is an implied vote of confidence from highly educated members within the medical investment community. Since Amarillo Biosciences and Emergency Filtration Products are both health care plays, these votes count.

That,s all for now. As always, thank you for subscribing. 

J. David Stewart

Analyst and Publisher, The Stewart Report

Information contained herein has been obtained from sources believed to be reliable, but there is no guarantee as to completeness or accuracy. Any opinions expressed herein are statements of our judgment on this date and are subject to change without notice. Acting as an investor, and also as a consultant to the Company, David Stewart purchased 100,000 shares of AMAR restricted under Rule 144. The holding period expired in August 2006 making them free-trading, although he continues to hold. He also bought 100,000 shares of ICRD governed by Rule 144 and remain restricted. He plans on buying shares in EMFP in the open market shortly after this Report is issued to subscribers. Affiliates of The Stewart Report may also have additional long or short positions in these and other securities discussed herein, including warrants and/or options, and may buy or sell same at their own discretion. This report contains or may contain forward-looking statements within the meaning of the "safe-harbor" provisions of the US Private Securities Litigation Reform Act of 1995. This report is intended for informational purposes only and does not have regard for or take into consideration the reader's investment objective, financial situation or suitability for this security. Consult with your financial advisor and perform your own due diligence. Copyright © The Stewart Report 2007.