Lies for Yahoo
ACCESS 1 FINANCIAL ISSUES BUY RECOMMENDATION WITH $40 12-MONTH PROJECTION ON C-3D DIGITAL
--------------------------------------------------------------------------------
Story Filed: Thursday, February 03, 2000 9:08 AM EST
LOS ANGELES, Feb 3, 2000 /PRNewswire via COMTEX/ -- Chequemate International Inc. (Amex: DDD), doing business as C-3D Digital Inc., the world's first 3D television network and 3D Internet media company, announced today that California-based Access 1 Financial initiated coverage of the Company with a buy recommendation and a 6-month price target of $24 per share and a 12-month price target of $40 per share.
The initial coverage of C-3D Digital by Access 1 Financial noted, "C-3D is an industry innovator in the manufacture and development of three-dimensional solutions for home entertainment. The Company operates a subsidiary, C-3D Television that is the world's first entirely 3-D stereoscopic television network. Its 3D.Com division, composed also of computer graphics trendsetter Strata Software, is also positioning the Company to become a major player in the Internet marketplace ... C-3D is ideally positioned to dominate a multi-billion dollar market."
In summarizing the Company's subsidiaries including C-3D Television, 3D.Com, (a forthcoming virtual reality/3-D e-commerce portal and Strata software line) and the Hotel Movie Network (HMN), Access 1 reported, "C-3D's investment potential is improved by the high degree of internal synergy within its component divisions, allowing for more efficient and improved operations at minimal additional cost structure. The graphics services of Strata Software complement C3-D Television programming development, as do the planned Internet components of 3D.Com. The substantial suite of services and products offered by C-3D Digital products increases the Company's profitability. This provides for significant barriers-to-entry for competitors."
Access 1 continued, "The future growth of C-3D Digital, Inc. and its subsidiaries is projected to be considerable within the next two years. As the cable rollout of the C-3D Television Network begins in earnest in early-to-mid 2000, HMN will expand its offerings and services, Strata Software will continue its significant revenue growth, and the launch of the 3D.Com Web portal will provide the Company with a valuable, high-visibility, cross-promotional platform from which to expand its market penetration significantly and to facilitate the development and rollouts of new 3-D technologies, services, and products. The full integration of, and improved internal synergies within the Company will be fully undertaken by mid-2000, providing an opportunity to take advantage of technological advances (i.e. availability of 3-D gaming both online and on the C-3D Television Network, as is planned for the World Virtual Reality League)."
Comparative analysis included in the report marked the Company's early market penetration as a significant advantage, "C-3D's market position is considerably enhanced by its early dominant position in the 3-D industry ... .C-3D has been the only company to devote significant funds or resources to 3-D development and use. Their use of advanced, consumer-friendly, technology and their creation of a 3-D television network gives C-3D a lead-time of 1 to 2 years over their potential competitors."
Commenting on the Company's expansion, the report stated,"C-3D's future growth will be driven by several primary factors: (1) capitalizing on the newly-emergent market for high quality consumer entertainment products, such as the 3-Dimensional home entertainment products; (2) continuing to refine and develop both its 3-D technologies and C-3D Television content and capture a larger portion of the overall market; and (3) developing strategic relationships with cable and entertainment providers to provide the Company's products and services."
Access 1 projected a 6-month valuation of $24 per share, based on 6x 2001 revenues of $24.1 million and a turnaround to profitability, with an estimated $0.48 earnings per share in 2001 up from an estimated loss of $1.24 in 2000. "During fiscal 2001 we anticipate C-3D gaining an approximate 2% share of cable customers to subscribe to the company's television network. This along with the expanding of www.3D.com should push estimated revenues to approximately $24 million. We anticipate this growth continuing with C-3D expanding its television presence to approximately 6% of cable and satellite households in fiscal 2002. Additional growth is also expected within the company's web presence as cross marketing and vertical and horizontal factors expand C-3D's revenue to an estimated $71 million for this period." (all estimates are based on a 1-to-4 reverse stock split effective 2/2/00).
For a complete copy of the buy recommendation on C-3D Digital, please contact Access 1 Financial directly at 310-581-7997.
C-3D Digital is a leading 3D media company that gives broadcasting and entertainment companies the ability to deliver 3D entertainment to any standard television 24 hours a day. As a leading innovator of 3D entertainment technology, C-3D Digital is the first television network to offer 3D programming exclusively to satellite and cable television subscribers. Additionally, the Company operates an Internet subsidiary company 3D.com. C-3D Digital maintains offices in the Los Angeles, California; St. George, Utah; and Phoenix, Arizona areas.
This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the Company's progress, business opportunities, and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the Company, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are set forth in C-3D Digital's periodic filings with the U.S. Securities and Exchange Commission.
For further information, please contact Gwendolyn Oliver, Director of Marketing of C-3D Digital, 310-823-4957, investors@3d.com; or Geoffrey Eiten, Investor Relations, National Financial Network, 800-344-1288, 781-444-6100 ext. 13, geiten@otcfn.com.
SOURCE C-3D Digital Inc. (C) 2000 PR Newswire. All rights reserved. prnewswire.com
CONTACT: Gwendolyn Oliver, Director of Marketing of C-3D Digital,
310-823-4957, investors@3d.com; or Geoffrey Eiten, Investor Relations, National Financial Network, 800-344-1288, 781-444-6100 ext. 13, geiten@otcfn.com
WEB PAGE:
3d.com
GEOGRAPHY: California
INDUSTRY CODE: CPR ENT MLM
Copyright © 2000, PR Newswire, all rights reserved.
You may now print or save this document.
-------------------------------------------------------------------------------- |
