Blast Applications Inc. (OTCPK: BLAP)

Blast Applications Inc. (BLAP) is a Long Island, New York-based company that is traded publicly on the OTC Pink Sheets under the symbol BLAP.PK. BLAP is a premier design and development group creating iPhone, Facebook and Twitter Applications that make spending time on these sites easier and more productive. BLAP’s management and creative team create the most cutting edge and innovative Applications on the Web. Daily brainstorm sessions enable the expedited development and teamwork needed to provide these outside the box applications. Customers will also find BLAP from time to time, making Web apps that are unrelated to the iPhone, Facebook and Twitter.

Source: Reuters.com, SEC Filings.

Financial Summary

Source: Reuters.com, SEC Filings.

Analyst Consensus

Chart not available.

Source: www.ft.com

No consensus analysis data available.

Source: http://www.reuters.com/finance/stocks/estimates?symbol=BLAP.PK

Investment Highlights

BLAP announced recently that it has been accepted into the iPhone Developer Program to develop applications for sale on the Apple iTunes App Store. The iPhone Developer Program provides a complete and integrated process for developing and distributing applications for the iPhone and iPod Touch. BLAP is now developing applications to be sold through the Apple iTunes App Store. Apples iTunes App Store currently has more than 100,000 third-party applications available with more than 2 billion downloaded as of September 28, 2009. The Company is beta testing its first iPhone/iTouch application in preparation for its release. The application is internally referred to as “Project F,” a pay-per-download application that will be a refined way of viewing RSS feeds, Twitter and e-mail along with the ability bookmark articles.

BLAP announced it will spin off Big Pants Medi Inc., its wholly owned subsidiary to existing shareholders of BLAP. Shareholders of BLAP will receive one new share of Big Pants for every one hundred shares of Blast beneficially owned on or before the record date of October 20, 2009. The spin off transaction will relieve BLAP of certain debts and obligations held on its balance sheet and allow Big Pants to continue on with its core business of Web design, marketing and development as a separate entity.

Source: http://blastapplications.com/

Technical Analysis

The Simple Moving Average indicates no current signals.

BLAP is trading above its upper Bollinger Band. Relative to recent price action, the stock is currently overextended and due for either a pause or retracement.

The MACD for BLAP currently indicates a strong bullish signal for two reasons. First, the MACD is above the signal line, a 9-day moving average. Second, the MACD is above 0, which implies that the underlying moving averages are trending higher.

Insider Trading Activity

Source: Yahoo Finance

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