LOS ANGELES, Sept. 25, 2003 (PRIMEZONE) -- ManageSource Research announced today that it has initiated coverage of HydroFlo, Inc. (OTCBB:HYRF) with a Speculative Buy rating and a twelve-month target of $3.03 - $3.46. HydroFlo recently reported a number of material events that should continue to drive initial commercialization revenues. ManageSource is citing the solid fundamentals, patented underlying technology, initial sales data and competitive advantage as the primary bases for their recommendation.
ManageSource President, Douglas Rogers, commented: "HydroFlo has demonstrated their ability to commercialize their patented technology along with strong demand from private and public sectors. Put simply, HydroFlo PLUS(tm) and ATS(tm) products significantly outperform competing technology, it is environmentally friendly, cost effective to deploy and maintain, and has already resulted in generating compound sales growth in excess of 96% in the most recent four sequential quarters. The Company still considers itself to be in its development stage, and liquidity is very low since they just recently listed to the public, so the issue remains speculative, but recent support and continued sales indicate a continuation of strong positive results."
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ManageSource Research. Founded in 1998, ManageSource is a registered investment advisor that provides independent equity research and valuation analysis for corporations and institutional investors. ManageSource delivers dynamic financial solutions, such as revenue & cost analysis, cash flow and P&L statements to public and private corporations
Safe Harbor and Disclaimer: Managesource Research is an information source only, not a solicitation to buy or sell securities. Certain statements pertaining to earnings and growth are "forward-looking" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as defined in the Private Securities Litigation Reform Act of 1995. ManageSource intends that such statements be subject to safe harbors created thereby. Actual results may differ from those expressed or implied. Underlying Information has been compiled from sources deemed to be reliable, but accuracy is not guaranteed. Investing in securities is speculative and carries a high degree of risk. Investors should perform their own due diligence and independently investigate and fully understand all risks. This report was prepared by Rogers Consulting Group dba ManageSource Research, a registered investment advisor, CRD No. 121149. ManageSource has received 15,000 common shares as research enrollment fees from the company discussed herein, either directly or indirectly. Further information: http://www.managesource.com.