GUMM - Eliminate the Common Cold Message Board

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Biotech / Medical : GUMM - Eliminate the Common Cold

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To: Mike M who wrote (4331)	5/6/2003 12:21:13 PM
From: DanZ	Read Replies (3) of 5582

Subject: Edgewater research-initiating coverage - MTXX 05-06-03 Dear Research Subscriber: We are initiating coverage of Matrixx Initiatives, Inc. (NASDAQ:MTXX) with a Buy rating and a 12 - 18 month price target of $10.25. The company develops, sources and markets Zicam, a Zinc based cough and cold/allergy medicine with several unique delivery methods. The company has done a great job building the Zicam brand and we expect them to continue doing so. MTXX is in good financial condition with cash in excess of $12 million and about $5 million in debt, which will be retired by year-end. We are still finishing the narrative of the formatting of the report, but it should be available over the next day or two. We are initiating ahead of the reports completion because we think given the company's profitable posture the stock is compelling under $7. It closed yesterday at $6.85. If you have any questions about MTXX, please call or better yet e-mail me. Regards, David Lavigne EdgeWater Research Partners LLC 1946 Mountain Maple Ave, Highlands Ranch, CO 80129 www.edgewaterresearch.com dave@edgewaterresearch.com 303-593-2877

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