NEWS
News article received, Wednesday, July 14, 1999 6:46:53 PM EST
PAR Analyst Announces Investment Opinion
NEW YORK, Jul 14, 1999 (BUSINESS WIRE via COMTEX) -- Public Analysis & Review (PAR), the unique professional independent analyst program administered by the non-profit Investors Research Institute, Inc.,and distributed by Investrend Research, announces that James F. Reda, professional analyst qualified in the PAR program, published his PAR Quarterly Research coverage of AutoTradeCenter.com (OTCBB: AUTCE) on July 14, 1999, and has reaffirmed a Speculative Buy, with a target of $7 to $10 in 18 to 24 months.
John M. Dutton, Investrend Research President, also noted that Investrend expects to distribute shortly Initial Reports on M&A West (OTCBB:MAWI), Vasogen (OTC:VSOGF), and Virtuallender (OTCBB:VLDC), and Quarterly Update Reports on Starnet Communications (OTCBB:SNMM), and AlphaTrade(OTCBB: EBNK).
The AutoTradeCeter.com report follows. PAR posts a downloadable report, including disclaimers which should be read before investing, on the Investrend Research Web site at investrend.com.
Date of Update: July 14, 1999Recommendation: SPECULATIVE BUYShares Outstanding: 20,385,084Estimated Float: 9,000,000Recent Stock Price: $ 1.97Target Price: $7 - $10 (18 u 24 months)Latest 12 mos. Price Range: $.90 to $4.06Industry Sector: Auto Sales & E-CommerceEarnings and P/E: Fiscal Period 1999A 2000 E 2001 Earnings per Share $0.01 $ 0.08 $ 0.25 Price/Earnings Ratio 197x 24.6x 7.9x We continue to rank Company as a speculative buy (see initial
report on Company dated February 4, 1999, available at
www.investrend.com). The Company recently reported audited fiscal year results for the
period ending March 31, 1999. Revenue for the first full year ending
March 31, 1999 was $97.7 Million, an increase of 209 percent over the
prior start-up year. For the shortened prior year from July 10, 1997,
the date of the company's inception, to March 31, 1998, revenue was $31,
581,117. On an annualized basis, the percent increase in revenue was
106 percent. Net income for the first full year was $115,241 or $0.01 per share, an
increase of 831 percent over the prior start-up year. For the shortened
prior year from July 10, 1997, the date of the company's inception, to
March 31, 1998, net income was $12,384 or $0.00 per share. On an
annualized basis, the percent increase in net income was 520 percent. AUTCE also recently announced that unaudited revenue for the three
months ended June 30, 1999 was in excess of $33 million, an increase of
57 percent over the prior year period. AutoTradeCenter.com Inc. (OTC BB: AUTC - news) will have a temporary
trading symbol of AUTCE effective July 8, 1999. The "E" extension to the Company's trading symbol is assigned by the
NASD for monitoring the Company's progress in fulfilling the compliance
with the new OTCBB eligibility rule. As previously reported, the Company took positive steps toward
complying with the new rules in filing its S-1 Registration with the
Securities and Exchange Commission on May 17, 1999. Comments have been
received from the SEC and the Company is responding positively to these
comments through an amendment to be filed with the SEC during the week
of July 12, 1999. AutoTradeCenter.com is a leading Internet-based "business-to-business"
automotive wholesale and re-marketing company. Through its web site,
www.autotradecenter.com, the Company markets its service to its
national dealer base, to automotive lease and rental companies, and to
banks and financial institutions across the U.S. who can use the site's
many features for more efficient buying, selling and trading. The site
also is designed to provide large dealership groups a virtual private
network internal inventory service through controlled security access. James F. Reda, Analyst, is a member of the New York Society of Security
Analysts, has over 15 years of financial analysis experience for public
and private companies, including valuations, mergers and acquisition,
and tax matters. Mr. Reda is a Level III CFA candidate. He has a BS
degree from Columbia University and an MS in management from the Sloan
School of Management, MIT. His firm, The Reda Group, is located in
Marietta, GA. Email: jamesfreda@mindspring.com. For Further Information: AutoTradeCenter.com, Inc. 8135 E. Butherus, Suite 3, Scottsdale, AZ
85280, Phone: 602-951-8040 Website: www.autotradecenter.com.
Investors Research Institute, Inc., P.O. 750471, Forest Hills, NY 11375-0471, Phone 212-484-4747, Fax 718-523-2137. Email: iri@investorsresearch.org / www.investorsresearch.org
Investor Relations: M&A West, Inc., Gerry Richards, Phone: 650-588-2678, Fax: 650-827-9508, Email: scott@mawest.com Web site: www.mawest.com.
Investrend Research, Inc. John M. Dutton, President. 801 S. Figueroa, Suite 1400, Los Angeles, CA 90017 Phone: 213-630-4401, Email jmdutton@ix.netcom.com. Research Home Page: www.investrend.com
Public Analysis & Review (PAR) is a program of the Investors Research Institute, Inc. (IRI), a non-profit membership organization for individual investors and others advocating higher standards of "accessibility", "scrutiny" and "disclosure" for public companies. Continuing quarterly coverage by an independent analyst is a requirement to meet the "scrutiny" requirements for the elite "Seal of Best Practices in Investor Relations" standard described on the organization's website at investorsresearch.org. If a company has no independent analyst following, this requirement may be satisfied by enrollment in PAR or any similar program. Anyone, including a company, may enroll a company for coverage. PAR reports are performed on behalf of the members of the Institute, and are not a service to any company. PAR analysts are responsible only to the public, and are qualified and assigned solely by the Institute, separate from the fiduciary entity, which is IRI, Inc. (IRIK), a public company in registration and financial administrator for the non-profit Institute. PAR analysts are paid in advance to eliminate pecuniary interests and insure independence. PAR annual enrollment fees are presently $15,000 but increase to $17,500 on August 1, 1999.
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