NEW YORK, Oct. 17, 2006 (PRIMEZONE) -- Harbinger Research LLC, an independent research firm, recently initiated research coverage of Verso Technologies, Inc. (Nasdaq:VRSO).
The Coverage Initiation Report provides a description of Verso's business, industry, products, strategy, management team, financial statements, and investment opportunities and risks. The report also discusses a large, accretive acquisition the company recently completed. The report contains an investment rating and 12-month price target, and is available free of charge at www.harbingerresearch.com.
About Verso Technologies, Inc.
Verso Technologies, Inc. is an Internet Protocol (IP)-based telecommunications technology and services supplier. The company is a market leader in high growth areas of telecommunications including Voice over Internet Protocol (VoIP), digital convergence of voice and data networks, and mobile telephony networks based on the global system for mobile communications (GSM).
The recent acquisition of Verilink's strategic assets brings valuable human resources, product offerings, distribution channels, and a new complementary business line to Verso. Aside from a group of top performing telecommunications industry professionals, Verilink's product portfolio has no overlap with Verso's and consists of some award-winning complementary products with superior market acceptance.
About Harbinger Research, LLC:
Harbinger Research (www.harbingerresearch.com), a StreetCapital Company, is a New York-based independent equity research firm that provides insightful, in-depth equity research coverage and no-opinion reports to smaller U.S.-traded companies and the individuals and institutions that invest in them.
Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to the ability of the company to increase revenues in the future due to the developing and unpredictable markets for its products, the ability to achieve a positive cash flow, the ability to obtain orders for or install its products, the ability to obtain new customers and the ability to continue to commercialize its products, which could cause actual results or revenues to differ materially from those contemplated by these statements.
Harbinger Research, LLC received US$10,000 from a third party in return for report authoring and distribution services.