Keep your eyes on PMGI ~~~ NEWS out today, should run tomorrow:
biz.yahoo.com/bw/990427/nv_pacific_2.html
Tuesday April 27, 2:46 pm Eastern Time
Company Press Release
Independent Analyst Review of Pacific Medical Group Forecasts Higher Earnings
CARSON CITY, Nev.--(BUSINESS WIRE)--April 27, 1999--Pacific Medical Group Inc. (OTC BB:PMGI) announced today that the company was recently reviewed by independent analyst Tim Hartman, formerly a financial consultant with brokerage firms Dean Witter Reynolds and Merrill Lynch.
Mr. Hartman, who after interviewing the staff, meeting with the officers of the company, and reviewing the financial statements and contracts, forecasts higher earnings for Pacific Medical Group Inc.
Gary Hill, president and CEO of Pacific Medical Group Inc., had previously released the company's 12 month projected earnings at $.11 per share from contracts and based on receipt of the first 12 months of existing contract income. However, the company now announces actual profits of two cents per share in the first 60 days of 1999 and projects a 12 months earnings of $.1982.
''We continue to diversify within the marketplace and are aggressively seeking new avenues for long term growth and profit,'' stated Gary Hill. Regarding the company's growth as a new company, Mr. Hill commented, ''We attribute our rapid success to strong, talented people within our organization as well as synergy in positive relationships with our growing network of clients and entrepreneurial minded associates.''
When asked to render his analyst's opinion, Mr. Hartman stated, ''In my opinion, the company's fundamentals are strong and I believe that their stock currently is under priced.'' When asked to give a current value per share estimate, Mr. Hartman responded, ''If this stock is trading at any price under two dollars per share, I would consider it under-valued in the market.''
Mr. Hartman's one to three year outlook for the company sees Pacific Medical Group positioned to be the industry leader in their field internationally, with a wide array of products, having no similar competition in sight.
''The company has already earned profits well beyond their earlier projections and will likely achieve earnings per share of twenty cents by fiscal year end.'' Hartman further states, ''With projected earnings per share of twenty cents and a simple multiple of just 10 as well as additional positive factors, this would fit my 'strong buy' recommendation criteria.''
Mr. Hartman is an independent analyst and was not compensated by, affiliated with, nor associated with Pacific Medical Group Inc., nor any of its divisions. Pacific Medical Group is also taking the necessary steps to becoming a full reporting company and is aggressively pursuing the opportunity to enter the NASDAQ market.
PMGI's products include: FireFighters QuickShower(TM), Military QuickShower(TM), Biking QuickShower(TM), Disaster Relief QuickShower(TM), and Sportsman QuickShower(TM), GentleWash(TM), and Feminine GentleWash(TM).
These products are a premium quality disposable bathing product system that cleans the skin, prevents cross-contamination of infectious bacteria and provides nutrients for new skin to develop.
Additional product information can be found at the Pacific Medical Group Inc. web site at www.Gentlewash.com or purchased over the internet at www.ichargeit.com (OTC BB:ICHG).
NOTE: Certain statements in this Press Release are ''forward looking statements'' within the meaning of the Private Securities Litigation Act of 1995. Such statements involve known and unknown risks and uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors, include, but are not limited to, changes in general economic conditions, risk in product technology developments, market acceptance of new product and continuing product demand, level of competition and other factors described in the Company's Reports, prospectuses and other filings with the Securities and Exchange Commission. |
