Taglich Brothers, Inc. Announces Investment Opinion on Forward Industries, Inc.Business Editors NOTE TO EDITORS: The following is an investment opinion issued by Taglich Brothers, Inc. NEW YORK--(BUSINESS WIRE)--March 12, 2001 Taglich Brothers Starts Forward Industries, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : FORD) as Speculative Buy Taglich Brothers, Inc. has initiated coverage of Forward Industries, Inc., (NasdaqSC: FORD; recent price $1.25) with a speculative buy recommendation and a nine-month price target of $2.75. Taglich Brothers believes Forward Industries is currently undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. . The Company is trading at a P/E P/E See: Price/earnings ratio of 6.9X based on our fiscal 2001 earnings estimate of $0.18 per share, compared to an average 2001 P/E of 15.4X for companies in the Industrial Services and Leisure Industries. We are basing our 2001 estimates on a return to a stable order flow from customers. The Company recently announced an alliance with Motorola (Motorola, Inc., Schaumburg, IL, www.motorola.com) A leading manufacturer of semiconductor devices, electronics, telecommunications and satellite systems. Founded in Chicago in 1928 by Paul V. , which calls from them to design, manufacture, and sell Motorola branded carrying case solutions in Europe, the Middle East, and Africa. Revenues from this alliance should make a significant contribution during fiscal 2002. Forward Industries, Inc., based in Pompano Beach, Florida Pompano Beach is a city in Broward County, Florida, along the coast of the Atlantic Ocean just to the north of Fort Lauderdale. The Nearby Hillsboro Inlet forms part of the Atlantic Intracoastal Waterway. As of 2006, the U.S. , designs, manufactures, and distributes custom carrying case solutions primarily for cellular phones, notebook computers A laptop computer that weighs in a range from five to seven pounds. The term originated when laptops were routinely more than 10 pounds, and those that became lighter were placed in a special "notebook" category. In practice, notebook computer and laptop computer are synonymous. , and home medical equipment. Its largest customers in the cellular phone and medical equipment markets are Motorola and Abbot Laboratories, respectively. Taglich Brothers, Inc., founded in 1992, is full-service broker Full-Service Broker A broker that provides a large variety of services to its clients, including research and advice, retirement planning, tax tips, and much more. Of course, this all comes at a price, as commissions at full-service brokerages are much higher than those at discount dealer focused exclusively on micro-cap Micro-cap Micro cap refers to a company with a market capitalization of between $50 million to $300 million. Notes: A micro cap stock isn't the smallest classification (nano-cap is even smaller), but it is getting pretty small. companies. The Company defines the micro-cap segment of the equity market as companies with less than $250 million in market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. . Taglich Brothers, Inc. currently offers institutional brokerage services, investment banking for publicly traded micro-cap companies and comprehensive research coverage to the investment community. In December 1999, the Company launched its Website http://www.taglichbrothers.com to allow investors free access to its in-depth research on micro-cap companies. Additional information is available upon request or on our website at http://www.taglichbrothers.com. The information and statistical data contained herein have been obtained from sources, which we believe to be reliable but in no way are warranted by us as to accuracy or completeness. We do not undertake to advise you as to change in figures or our views. This is not a solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of any order to buy or sell. We, our affiliates, and any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. The company mentioned in this news release may from time to time be involved in an investment banking relationship with Taglich Brothers, Inc., or may pay a monthly fee for maintenance of our Web site. Details of any such relationship or compensation agreements are available upon request. The above statement is the opinion of Taglich Brothers, Inc. and is not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. As of the date of this news release, we, our affiliates, and any officer, director or stockholder, or any member of their families' do not have a position in the stock of the company mentioned in this news release. Taglich Brothers, Inc., does not currently have an Investment Banking relationship with the company and the company does pay Taglich Brothers Inc. a monthly fee for maintenance of our Web site. |
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