NEW YORK, Nov. 24, 2003 (PRIMEZONE) -- The following is an investment opinion issued by Investrend Research Syndicate:
LocatePlus Holdings Corporation (OTCBB:LPLHA), a provider of personal information to the law enforcement, government agency and corporate markets, with a 6 billion-entry database that contains content on 98% of the 205 million individuals in the U.S., is poised for a "tremendous potential market opportunity" due to the U.S. Patriot Act, according to Investrend Research analyst Michael Whitney, CFA, in a Focus Report.
Whitney says that competitively, LocatePlus offers "significant savings over ChoicePoint (NYSE:CPS) and the LexisNexis unit of Reed Elsevier NV'S (NYSE:ENL) Reed Elsevier PLC (NYSE:RUK), and expects profitability in 2004 if it is able achieve its capital needs.
According to Whitney, the Patriot Act requires all financial institutions to perform identify verifications, and that LocatePlus is now augmenting its internal sales force with resellers, and sales of core products are up 82% year over year.
The negatives: the company must raise capital to survive, it owes $285K on a demand note, and an overhang could impact share price performance.
The full report, including important disclosures and disclaimers, is available at http://www.investrendresearch.com, and at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes. Investors are advised to read these carefully before investing in the equities of any enrolled company.
Michael Whitney, CFA, is a member of AIMR. He is the co-founder and President of the BenMatt Foundation, a charitable organization devoted to funding a diverse set of domestic and international needs. He has extensive experience performing investment research on technology companies. He served a Vice President of Equity Research at Tucker Anthony Capital Markets where he covered technology and business services companies for four years. He also was a Director in the Technology Research Group with Advest Inc. for three years. Whitney received his MBA from Boston University and his BA from North Adams State College.
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