LOS ANGELES, Dec. 3, 2002 (PRIMEZONE) -- ManageSource Research announced today that it has initiated coverage of First American Scientific Corp. (OTCBB:FASC) with a Speculative Buy rating and a twelve-month target of $0.25 - $0.40, based on Discounted Forward Earnings Analysis. The Company is effectively in its final stages of development and product rollout is expected to be strong. The Company has aligned with high quality partners and provides a product that ManageSource feels has tremendous global potential in numerous markets ranging from forestry and agriculture, to utilities, waste and recycling. ManageSource feels the Company's recent sale of three KDS units to Vancouver Island Recycling Centres, Ltd. as reinforcement of the company's potential for strong sales and continued growth.
ManageSource anticipates that they will be able to increase targets and recommendations over the next 12-24 months as First American begins to capitalize on their strong sales foundation and establishes themselves as a leader and innovator in their space.
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Founded in 1998, ManageSource is an independent research, valuation and boutique Investment Banking firm. ManageSource specializes in producing independent Equity Research for public companies and developing and delivering dynamic, customized financial solutions, such as revenue & cost analysis, cash flow and P&L statements for both public and private companies.
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