ORLANDO, Fla., Dec. 6, 2006 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, announced that they have updated research on Commodore Applied Technologies, Inc. (OTCBB:CXIA).
Lisa Springer, MBA, CFA, RedChip Research Analyst, wrote in the report:
"At a current $0.20 price, Commodore shares trade at only around 20 percent of annualized revenues, well below the waste management peer group's average 1.0 P/S multiple. In addition, these shares are trading at a deep discount to last year's average share price, despite Commodore's success in boosting profit-generating revenues, trimming net losses, and commercializing SET(tm) technology. We believe the Company's improving bottom-line and enhanced prospects for new contract awards warrant a higher valuation. We initiated coverage of the Company in October with a Speculative Buy rating and a one-year $0.60 price target, based on a 0.6 P/S multiple of projected FY 2006 revenues."
To receive a complimentary copy of the RedChip Visibility initial research for CXIA, please visit: http://www.redchip.com/visibility/about.asp?page=requestCXIA_q3_2006.
About RedChip Visibility(tm)
RedChip Research, a division of RedChip Companies Inc., writes fundamental research on small-cap companies. RedChip's success has been documented in Forbes, Barron's and the Wall Street Journal. RedChip Visibility(tm) provides small-cap companies' access to both professional and individual small-cap investors by holding conferences throughout the United States, producing online corporate visibility programs, and writing company sponsored research.
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RedChip Visibility Research Disclosure
Commodore Applied Technologies, Inc. is a client of the Aurelius Consulting Group, Inc. and of RedChip Visibility, a division of RedChip Companies. CXIA paid RedChip Visibility $17,000 for the RedChip Visibility Research Program, which includes this report. RedChip Visibility, a division of RedChip Companies, Inc., and the Aurelius Consulting Group Inc., in a joint marketing agreement, have been contracted by Commodore Applied Technologies, Inc. to increase investor awareness of CXIA to the small-cap equity community. These services may include investor conferences and digital and print distribution of CXIA investor related materials. In the purview of Section 17(b) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader's attention to the fact that the Aurelius Consulting Group is an investor relations firm hired by the Company and receives a monthly fee of $4,000 and 220,000 shares of Rule 144 stock for the first six months of Aurelius services and 120,000 shares of Rule 144 stock for the second six months of investor relations services.