CorpHQ Disputes Investrend 'Suspension'; CEO Assails Analyst for Non-Compliance with Minimum CFA Institute Standards.REDONDO BEACH Redondo Beach (rĭdŏn`dō), city (1990 pop. 60,167), Los Angeles co., S Calif., on the Pacific Ocean; inc. 1892. Once a commercial port for Los Angeles, it is a residential and resort city with a protected harbor and an excellent marina. , Calif. -- On September 13, 2006, Investrend Research announced that CorpHQ, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :COHQ) was being given an adjusted rating of "Suspended/1" by Analyst Shailesh Dhuri, MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration . In response, CorpHQ's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Steve Crane, released the following statement today: E[acute accent acute accent n. A mark (´) indicating: a. that a vowel is close or tense, as é in French été. b. that a vowel or syllable has a high or rising pitch, as in Chinese or Ancient Greek. c. ]"We dispute the Suspended Rating given by Investrend analyst Shailesh Dhuri because no member of our management team had any form of direct communication with Mr. Dhuri prior to the release of this Notice. The CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. Institute's Standards of Practice clearly state: (all Analysts are to) exercise diligence, independence, and thoroughness in analyzing investments, making investment recommendations, and taking investment actions; and have a reasonable and adequate basis, supported by appropriate research and investigation, for any investment analysis, recommendation, or action. E[acute accent]"Mr. Dhuri stated that 'current guidance from management is negative...' As he has had no contact with our company for the past four months, it is impossible for Mr. Dhuri or Investrend to provide any indication as to what management's `current' guidance on any matter is, or to assert that the change in rating was the result of reasonable, adequate or appropriate research or investigation. E[acute accent]"Secondly, Investrend further states that its rating has been suspended due to its inability or unwillingness to provide the analyst assigned by Investrend with continued access to the company, a violation of the 'CFAI / NIRI NIRI National Investor Relations Institute NIRI Nutrition Intervention Research Initiative (Mississippi) NIRI Near Infrared Imager NIRI National Institute on Recreation Inclusion NIRI New Ideas Research Institute Analyst / Issuer Guidelines,' and the 'Standards of Practice For Research Providers'.' (see http://www.investrend.com/Admin/Topics/Articles/Resources /502_1149638541.doc)." (Due to its length, this URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.) E[acute accent]"At no time was CorpHQ unable or unwilling to provide Mr. Dhuri with continued access to the company. To the contrary, CorpHQ posted its Voluntary Financial Report for the 2nd Quarter of 2006 on August 15, 2006 and has been waiting to begin discussions with Mr. Dhuri since that time. Instead, without any prior notice or justification, and with no attempt at contacting anyone in management at the company, coverage of CorpHQ was unilaterally suspended by Investrend. E[acute accent]"While our asset base and shareholders equity grew in the second quarter other key areas of our business did suffer. Had Mr. Dhuri taken the time to properly evaluate our company's financial and operating position he may or may not have come to a different conclusion. The conclusion I come to is that any rating Mr. Dhuri now gives the company lacks credibility, and should be discounted in light of his arbitrary and capricious capricious adv., adj. unpredictable and subject to whim, often used to refer to judges and judicial decisions which do not follow the law, logic or proper trial procedure. A semi-polite way of saying a judge is inconsistent or erratic. conduct in dealing with our company." E[acute accent]About CorpHQ, Inc. E[acute accent]CorpHQ, Inc. provides management services to high caliber early stage companies. The company voluntarily reports all financial information and material events on www.pinksheets.com. E[acute accent]Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. E[acute accent]Any statements made in this press release that are not based on historical facts are "forward-looking statements", as such term is defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data; forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2005 Voluntary Annual Report and subsequent Voluntary Quarterly Reports, and in particular the discussions contained under "Risk Factors." |
|

Printer friendly
Cite/link
Email
Feedback
Reader Opinion