Not Posted Here Yet: C & D (Whoever They Are) Slam PNLK...
Dave, there are probably a million brokerage houses that
I've never heard of, and here is one: Chatfield & Dean,
initiating coverage of PNLK with a pretty nasty SELL.
(Sorry, but the name Chatfield & Dean sounds like it
was made up by somebody who wanted prestige.) Here's
the article...
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.''
Please add our analyst coverage to your database.
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
Contact:
Chatfield Dean & Co., Inc., Greenwood Village
Analyst: Cheryl J. Bostater, 303/740-0006 |
