ORLANDO, Fla., Oct. 5, 2006 (PRIMEZONE) -- RedChip Visibility, a division of RedChip Companies, announced today that they have initiated research on Edgewater Foods International, Inc. (OTCBB:EDWT).
Patrick Murphy, RedChip Research Analyst, Level III CFA Candidate, wrote in the report:
"Assuming that in 2009, EDWT has achieved results close the projected harvest and profitability, the fully diluted forward earnings per share for 2010 could approach $0.97. Applying a forward multiple of fifteen to this earnings level produces a $14.50 stock in 2009. Assuming a reasonable investor will apply a steep discount rate to earnings that are this distant, EDWT stock, which may be worth $14.50 three years from now, should be worth $4.25 now, if discounted at fifty percent for three years. While there are numerous risks associated with an investment in EDWT, the tremendous market opportunity before the company makes it an attractive purchase for the right investor at its current price."
To receive a complimentary copy of the RedChip Visibility initial research for EDWT, please visit: http://www.redchip.com/visibility/about.asp?page=requestEDWT.
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RedChip Visibility Research Disclosure
Edgewater Foods International, Inc. is a client of the Aurelius Consulting Group, Inc. and of RedChip Visibility, a division of RedChip Companies. EDWT paid RedChip Visibility $28,800 for the RedChip Visibility Research Program, which includes this report. 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 25,000 shares of Rule 144 stock per quarter for investor relations services.