CorpHQ Rated 'Speculative Buy/4' by Investrend Research Analyst Mohammad Sharifzadeh, MBA, CFA


NEW YORK, Nov. 24, 2004 (PRIMEZONE) -- The following is an investment opinion issued by Investrend Research Syndicate:

Investrend Research analyst Mohammad Sharifzadeh, MBA, CFA has released a Benchmark update on CorpHQ (Pink Sheets:COHQ), rating it a "Speculative Buy / 4."

"CorpHQ is a well organized company and operates under an explicitly defined business model," said Sharifzadeh. "They have a healthy balance sheet with debt-equity ratio of about 1 to 10 and positive net working capital. Their investments in the portfolio company, Safeguard Technology International, have shown fruits and they have been divesting portions of STI holdings in accordance with phase V of their business strategy.

"We believe once CorpHQ implements phase VI of its business strategy on an extended scale they would be able to generate sustainable operating income and operating cashflows."

In Phase VI, business relations of the portfolio company with CorpHQ's consulting unit expand to include investor relations, advertising, public relations and financial advisory services.

The analyst said the company's stock is trading at "only 1.5 times the third quarter book value. Providing upside potential," although the company's newly reorganized business model has not yet positioned it to report regular operating profits and operating cashflows.

"CorpHQ is not a reporting company, but they provide voluntary audited annual and reviewed quarterly reports on the Pink Sheets," said Sharifzadeh.

As of Sept. 30, 2004, CorpHQ's balance sheet showed $3,613,605 in total assets; a decrease of 32% as compared to total assets as of Sept. 30, 2003. This decrease was basically due to reductions in the value of investments. However, the company was in a much stronger position in terms of net working capital as of Sept. 30, 2004 as compared to Sept. 30, 2003. Whereas CorpHQ had networking capital of $44,024 as of Sept. 30, 2003, its networking capital improved to $328,689.

The analyst's credentials are at http://www.investrend.com/articles/secondlevel.asp?level=238

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Complete information is available at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes, and the full report is available at www.investrendresearch.com. Investors are advised to read disclosures carefully before trading in the equities of any enrolled company.

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