New Purchase Recommendation
HOLLYWOOD, Fla., Nov. 3 /PRNewswire/ -- Mark Beloyan of Beloyan Investment
Securities, Inc. issued the following trading and research announcement today:
Solucorp Industries, Ltd.
(OTC Bulletin Board: SLUP)
Current Price $4.125
52 Week Range $6.50 - $1.53
Shares Outstanding Approx. 18 Million
INVESTMENT OPINION: We are initiating coverage of Solucorp with a BUY
rating for aggressive/speculative high growth oriented investors. The company
is headquartered in West Nyack, New York, and has offices in Canada, Puerto
Rico, and China. Solucorp is focused on the development and marketing of
products which solve the needs of the environmental marketplace.
Solucorp's Molecular Bonding System (MBS) recently passed the United
States Environmental Protection Agency's (EPA) Superfund Innovative Technology
Evaluation (SITE) program's stringent testing and has been acknowledged as a
permanent and cost-efficient solution for stabilizing heavy metals in soils
and industrial wastes. With this EPA approval, the company is on the verge of
dramatically increasing its revenues and earnings capabilities. Now that the
EPA has given its "stamp of approval" for use of this cost effective MBS
technology, I believe that the environmental community can economically afford
to act prudently and remediate the contaminated soils that pollute our
environment.
As Solucorp continues to do successful work and continues to clean up
contaminated soils and proves to the environmental community that this process
is the way of the future the upside potential is enormous. The advantages
that Solucorp has over any other types of soil remediation are two fold.
First, the cost of cleaning contaminated soil is significantly cheaper than
other processes, and second, the soil can be re-used. The now clean soil
doesn't have to be trucked to a landfill, thereby reducing costs for cleanup
projects. The remediated soil can stay on site to be used for other purposes.
Conclusion
We have concluded that Solucorp appears to be turning the corner in both
sales and profits. The companies growth rate appears aggressive but
manageable. We project the company to be profitable this fiscal year
(June 1998) with revenues of $15 million and EPS of $0.25 and 1999 with
revenues in excess of $50 million with EPS of $1.12. We recommend purchase of
these shares at these levels with a short term target of $8.00 and a long term
target of $15.00.
The material herein has been obtained form sources believed reliable and
accurate, however, its accuracy and completeness cannot be guaranteed. Any
recommendation contained in this report may not be suitable for all investors
and it is not to be deemed an offer or solicitation on our part with respect
to the sale or purchase of any securities. We may effect transactions,
including transactions contrary to any recommendation herein, or have
positions in the securities mentioned herein (or options with respect thereto)
and may also have performed investment banking services for the issuers of
such securities. In addition, Beloyan Investment Securities, Inc. (BIS) may
trade for its own account any securities or options of the issuer and at any
time BIS, its affiliates, directors and officers may have a long or short
position in any securities or options of the issuer and may provide on a fee
basis consulting or other services to such issuers.
For further information please contact Mark Beloyan, President of Beloyan
Investment Securities, Inc. 954-989-8422, or 800-365-1553.
SOURCE Beloyan Investment Securities, Inc.
CO: Beloyan Investment Securities, Inc.; Solucorp Industries, Ltd.
ST: Florida, New York
IN: CHM FIN OIL
SU: ECO |
