LKAI & DFNS

OTCBB $Volume in April dropped to its lowest level since November 2004. It has been the 4th straight monthly drop. No coincidence then that the week of April 15 was a YTD low for the Pennyheaven Super 7. Lucky for us we have had three straight up weeks since.

LKA International LKAI (.28) announced that their Board of Directors has approved a stock repurchase program. http://biz.yahoo.com/prnews/050504/law116.html?.v=6

LKA International, Inc. is a natural resources development company that owns the Golden Wonder mine, a producing, high-grade gold property, located near Lake City, Colorado. Additionally, LKA owns the Ute Ule silver mine (currently inactive) and milling facility, which are also located near Lake City, CO. The Company currently plans to permit and develop a new drift approximately 1,000 feet below the current workings of the Golden Wonder Mine to extend the size and productivity of the mine.

12,750,317 s/o as of 4/14/05
Website: http://www.lkaintl.com

Defense Industries International DFNS (.56) is starting to look attractive.Stock price is down ~ 50% YTD. Net income for 2004 was .02/sh compared to .01/sh in 2003.Defense Industries International, Inc. is a leading manufacturer and global provider of personal military and civilian protective equipment and supplies. Defense Industries' main products include body armor, bomb disposal suits and bullet-resistant vests and jackets; ballistic wall covers, helmets, plates and one-way protective windows; personal military equipment, battle pouch units and combat harness units; dry storage units, liquid logistics, tents and vehicle covers; winter suits, sleeping bags and backpacks. The Company's manufacturing facilities meet American EQNET and international ISO 9001 standards. Major customers include the Israel Defense Forces, the North Atlantic Treaty Organization (NATO), the United Nations Peacekeeping Forces and other U.N. organizations.
25,350,000 s/o as of 3/23/05
Web site: http://www.defense-industries.com

I'll keep you posted.

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