PNLK: Have a happy gap.
<<<Wednesday May 13, 4:04 pm Eastern Time
Company Press Release
Chatfield Dean & Co. initiates coverage on Pro Net Link Corp.
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--May 13, 1998-- Chatfield Dean & Co., Inc. today initiated coverage on Pro Net Link Corp. (OTC BB:PNLK - news; OTC.BB: PNLK.BB/(PNLK.OB)), with a SELL recommendation in a two page research report entitled ''Fundamentals do not support current valuation: buyer beware.''
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ProNet Link is grossly overvalued with a current market capitalization of approximately $300 million, based on a recent stock price of $8.00 with 37,849,500 shares outstanding. Pro Net Link is a start-up company with no historical revenues to date, a net loss from August 1, 1997 through April 30, 1998 of approximately ($350,000), Cash of only $300,000 and equity of ($20,000). The Company currently has not completed its web site, and there is no assurance as to when it will be fully functional. As with any start-up company, projections are typically rarely obtained; therefore we believe the Company is grossly overvalued based on our projected market valuation. In addition, Pro Net Link is not currently a full reporting company as to its financial condition. Research report to follow.
+ Rating: SELL >>> |
