SOURCE: IO Circuit

August 22, 2006 07:00 ET

(OTC BB: ABZS) Gets Upgraded From Outperform to Strong Buy

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit.

LAKE HARMONY, PA -- (MARKET WIRE) -- August 22, 2006 -- Abazias, Inc. (OTCBB: ABZS) has been rated a "Strong Buy" and its target price raised to $0.40 from $0.30 by TRI-State Capital, Analyst, Michael C. Grobler , CFA.

Abazias Diamonds (OTCBB: ABZS) previously reported on by TRI-STATE Capital (TSC), has upgraded their equity rating on ABZS. This strong upgrade comes at a time when the company reported a surge in second quarter sales up 46% to $1.1 million. Management is now forecasting continued growth heading into the remaining of 2006, noting that historically 35-40% of revenues are booked in the 4th quarter alone, on top of the company's current stellar doubling of revenues for YTD. In addition, new web-site innovations unique to the company such as their 3d ring builder which can be viewed at, as well as the new line of Paris Hilton watches being unveiled.

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