OTHER WSR COVERAGE SUMMARY
NYMX Nov 4, 2003 @ $2.57
Currently $4.65 (up 81%)
CMMD Nov 19, 2003 @ $1.03
Currently $1.12 (up 9%)
NTDL Feb 25, 2004 @ $0.98
Currently $0.92 (down 6%)
BPA Mar 26, 2004 @ $4.28
Currently $4.83 (up 13%))
In March, a wave of worldwide bearish sentiment following the terrorist attacks in Madrid, Spain caused the deepest yet correction in the year-long bull market in the U.S. However, despite considerable selling pressure that dominated since the second week of March, the major stock market indexes bounced back up, finishing the month relatively flat.

During the MONTH OF MARCH, the major indexes performed as follows:

DJIA fell 2.1% to 10,357.70 points,
NASDAQ lost 1.7% closing at 1,994.22 points,
S&P 500 dropped 1.6% to 1,126.21 points, and
RUSSELL 2000 gained 0.1% reaching 590.31 points.

The strong finish in the last few days of March pointed all of the indexes closer to their 52-week highs, strengthening the trading range that developed since January. But clear favorites were small cap stocks from RUSSELL 2000, which has not corrected as sharply and recovered impressively. Assuming favorable economic conditions, the small cap sector could lead the way in the next surge, propelled by a search of still undiscovered undervalued issues. April has begun with a good strong performance of markets, and economic data. The employment statistics with announcement of over 300,000 jobs being added during the most recent monthly period, should bode well for the markets this month.
In March, WallStreet Research released a corporate profile featuring Spectrum Sciences & Software Holdings Corp. (OTC BB: SPSC), an established government contractor providing full-service, solutions, primarily to the Department of Defense (DOD). Trading under the symbol SPSC, the Company is positioned to capitalize on its favored defense vendor status established with the DOD and expand its business amidst the growing worldwide demand in the nearly recession-proof defense and national security industries. Since the release of the WSR corporate profile featuring SPSC on March 9th, the stock advanced over 15% closing at $2.80 on April 1st.

For more information about Spectrum Sciences & Software Holdings Corp., visit the Company's website at www.specsci.com or view the SPSC corporate profile, including risk factors and disclaimers, at www.WallStreetResearch.org.

APRIL STOCK OF THE MONTH (SPECULATIVE INVESTMENT)
On March 26th, WallStreet Research released an analyst report initiating coverage of BioSante Pharmaceuticals, Inc. (AMEX: BPA), an emerging biopharmaceutical company with a late stage pipeline of gel hormone therapy products and a proprietary nanoparticulate-based platform technology for alternative methods of administering vaccines and other treatments.

Symptoms treated with hormone therapy in men include impotence, lack of sex drive, muscle weakness and osteoporosis, and in women, menopausal and postmenopausal symptoms such as hot flashes, vaginal atrophy, decreased libido and osteoporosis. The Company’s sex-specific transdermal gel formulations contain testosterone or estradiol, a natural form of estrogen, as well as appropriate combinations of testosterone, estradiol and norethindrone, a form of progestogen, another female hormone which has been shown to reduce the potential risks of uterine hyperplasia or cancer associated with isolated estrogen therapy. Human clinical trials have begun on four of the Company's proposed hormone therapy products.

In a diversified platform, the Company is developing its multi-purpose nanotechnology-based delivery system, using calcium phosphate (CAP) nanoparticles as vehicles to administer vaccines and therapeutic drugs, mainly proteins such as insulin, through nasal, oral and needle-free transcutaneous routes. The Company’s vaccine adjuvant, BioVant™, is undergoing various preclinical animal studies with commercial partners to develop vaccines for infectious diseases, and through Cooperative Research and Development Agreements (CRADA) with branches of the U.S. military to produce effective biodefense vaccines against anthrax, ricin, staph and bubonic plague. The Company also conducts partner-funded studies with BioOral™, CAP-based method to deliver insulin and other proteins without injection, as well as research to purify the milk of transgenic livestock through a patented process of isolating biologically active therapeutic proteins from their milk.

With a solid track record of raising funds and no long term debt, the Company appears well positioned to continue its product development and advancement of its clinical trials. In August 2003, the Company raised $10.3 million in a private placement offering of 4.8 million units consisting of one common share and one half warrant. As of December 31, 2003, the Company had $9.1 million cash on hand.

The Company’s management team has a wealth of product development, clinical and executive experience, and is led by Stephen Simes, Vice Chairman, President and CEO, who has been successful in selling prior companies for a large premium to corporate investors in mergers. The Company's Board of Directors is led by Chairman Louis W. Sullivan, M.D., President Emeritus of the Morehouse School of Medicine, Atlanta, Georgia, who served four years as Secretary of Health and Human Services during the Bush Administration (1989-1993) and holds Director positions on the boards of Bristol-Myers Squibb Co. (NYSE: BMY) and 3M Co. (NYSE: MMM), among other well known companies.

Since the WallStreet Research report, the BPA stock in a few trading days reached a high of $4.90, gaining 14% from the $4.28 report price. The Company has 14.3 million shares outstanding and the daily average trading volume in the past three months is 131,800. Institutions own approximately 12.1% of the outstanding shares. The high and low in a 52-week range is $7.11 and $1.85, respectively.

For more information about BioSante Pharmaceuticals, Inc., visit the company's website at www.biosantepharma.com or view the WSR research report, including the risk factors and disclaimers, at www.WallStreetResearch.org.

April 5, 2004

About WallStreet Research:
WallStreet Research is a prominent research boutique formed over twenty years ago and led by Alan Stone, Managing Director of Alan Stone & Company, LLC. The firm specializes in the microcap and smallcap investment arena, looking for emerging growth companies with strong management, unique or proprietary technology, significant market potential, financial strength, and outstanding long-term earnings growth possibilities. The firm has offices in Los Angeles, CA, Palm Beach, FL, and New York City, NY, and is well known for discovering promising companies and bringing them to the attention of the investment community.
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Disclaimers:

The information presented herein or in the WallStreet Research reports is not to be construed as an offer to sell, nor a solicitation of an offer to purchase, any securities referred to herein or otherwise. The newsletter and research report contents are based entirely on information available to the public and has been obtained from the company featured herein, as well as other sources, in each case without independent verification. The information featured herein is considered reliable, but cannot be guaranteed as to accuracy or completeness. The information includes certain forward-looking statements within the meaning of Section 21E of the SEC Act of 1934, which may be affected by unforeseen circumstances or certain risks. The reader is hereby advised to review all SEC filings for a more complete description of the Company's business, including the financial statements and all risk factors set forth therein. By accepting and reading this report, the reader hereby acknowledges that neither WallStreet Research, nor any other affiliate thereof makes any representation, either express or implied, as to the accuracy, completeness, fitness for a particular purpose or future results, of any statement contained herein. Neither WallStreet Research, nor any of its officers, agents or affiliates, accepts any liability whatsoever for any statements made herein, including without limitation any liability for direct, consequential or special damages of any kind or nature. Any securities mentioned herein may be deemed speculative, and not appropriate or suitable for all investors, and anyone reading this report is advised to discuss its contents with their investment advisors. The nature of the information contained in this report is considered time sensitive, is subject to change without notice, and cannot be relied upon after a period of three months, unless updated.

Alan Stone & Company, LLC (hereinafter "ASC"), an affiliate of WallStreet Research, receives fees from companies mentioned herein and in the reports. ASC received $10,000 from BioSante Pharmaceutical, Inc. for publishing and distribution of WallStreet Research analyst coverage initiated in March 2004, and is under contract to receive $6,000 for publishing and distribution of this electronic newsletter. ASC also is under contract to receive $6,500 from BioSante in conjunction with a roadshow program scheduled for the week of April 12th, when the company will be making corporate presentations in three cities. ASC received $5,000 from Teton Petroleum Co. for publishing and distribution of the March 2004 electronic newsletter, and is under contract to receive additional $10,000 for initiating WallStreet Research analyst coverage on Teton Petroleum. ASC received compensation of 10,000 shares of common stock of NuTech Digital, Inc. for publishing and distribution of the February 2004 electronic newsletter, and additional 15,000 shares of common stock of NuTech Digital, Inc. for publishing and distribution of WallStreet Research analyst coverage initiated in February 2004, and has an agreement to earn up to 100,000 stock options to purchase common stock in NuTech Digital, Inc. for newsletter and research services. ASC has earned compensation in the last two years for organizing roadshows and meetings on behalf of Command Security Corporation, and received $5,000 for update of WallStreet Research analyst report in November 2003, and is under contract to receive $5,000 to update the WallStreet Research report for current developments. ASC or its affiliates may also own other shares of companies mentioned herein or in the reports, for investment purposes, in its corporate accounts, and may increase or decrease its positions at any time, without notice.
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