EdgeWater Research Partners Initiates Research Coverage on XELR8 Holdings, Inc.
January 30 2006 - 8:15AM
PR Newswire (US)
Noted Small Cap Research Analyst, David Lavigne, Issues Rating of
'3' and a 12-18 Month Price Target of $3.50 DENVER, Jan. 30
/PRNewswire-FirstCall/ -- VitaCube Systems Holdings, Inc., d/b/a/
XELR8 Holdings, Inc. (AMEX:PRH), a provider of nutritional foods,
beverages and supplements, today announced that EdgeWater Research
Partners, LLC, an independent research firm focused on micro/Small
Cap companies, has initiated research coverage on the Company with
an initial rating of "3" and a 12-18 month price target of $3.50
per share. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050926/FLM015LOGO ) David
Lavigne, noted Small Cap research analyst and managing principle of
EdgeWater Research Partners, stated, "From my perspective, XELR8
has been a work in progress since the formation of the Company in
late 2000. Clearly, some of the evolution is associated with the
original game plan, while other parts have amounted to the
recognition that there were perhaps more optimal nuances than the
original plan entailed. That said, the Company has spent
considerable time and resources building/rationalizing the approach
to get to this point. This point amounts to a number of important
characteristics, namely: formation of a considerable endorsement
base of world-class athletes, establishment of the brand and what
they believe will be a cadre of well accepted products, the launch
of the direct selling/multilevel distribution system, and the
hiring of a management team that appears well suited to the task at
hand. As a result, I am initiating coverage of XELR8 shares with a
rating of '3' and a 12-18 month price target of $3.50. I will look
to both financial and distribution growth metrics, as well as
better visibility in general as a catalyst to revisit these
conclusions." Although EdgeWater Research Partners distributes its
research reports to its paid subscribers, a brief summary of the
19-page report on XELR8 may be viewed by visiting
http://www.edgewaterresearch.com/ . A copy of the full report is
available at a cost of $50 and may be purchased directly from the
web site. EdgeWater Research Partners, LLC Disclaimer Statement:
The information contained in this report has been written by David
Lavigne of EdgeWater Research Partners LLC ("EdgeWater") and has
been derived from sources considered reliable, but cannot be
guaranteed by us. EdgeWater and Lavigne are not aware of any
material conflict of interest known at the time of the publication
of this report. Financial projections and estimates herein
represent our independent analysis based upon information in
conjunction with the Company's publicly available financial
statements. Mr. Lavigne certifies that the opinions and conclusions
contained in this report are his. EdgeWater and Lavigne may
maintain positions in the securities referenced, which may change
at any time without notice. EdgeWater does not receive fees,
warrants or any other compensation from issuers in connection with
its research. It does however, encourage issuers and it
representatives to subscribe to EdgeWater's research, and from time
to time, issuers and or their representatives may also purchase
individual copies of EdgeWater's research products. EdgeWater and
Lavigne may own options, rights or warrants to purchase any of the
securities of the Company. This report is for informational
purposes only and is not to be construed as specific investment
advice or recommendations, or as an offer to sell or a solicitation
of an offer to buy any securities. The securities referenced are
speculative in nature and may not be suitable for your specific
investment objective. For specific investment advice or
recommendations, please consult with your investment
representative. For additional information regarding our rating
system and our valuation approach see our website:
http://www.edgewaterresearch.com/ . David Lavigne has a BS in
Finance from the University of Idaho, and has provided research
services to various entities in different capacities since
approximately 1995. As of this date, employees, officers and or
Directors of XELR8 have subscribed to 0 full annual subscriptions
for EdgeWater's newsletter and research information. In addition,
XELR8 has purchased 0 research reports from EdgeWater. In September
2005, XELR8 paid a fee of $10,000 to attend EdgeWater's "Fall 2005
Micro/Small Cap Conference for Investment Professionals."
Additional ongoing disclosures regarding purchases of materials by
XELR8 or its agents from EdgeWater are updated on the website. This
report is 19 pages in length. About EdgeWater Research Partners,
LLC EdgeWater Research provides both institutional and individual
investors with quality equity research regarding "micro cap" and
"small cap" companies for which little or no independent research
is available. EdgeWater utilizes its industry experience and
affiliations to uncover and analyze issuers that it believes offer
exceptional investment opportunities, which it will then articulate
to its subscribers. For more information, please visit
http://www.edgewaterresearch.com/ . About XELR8 Holdings, Inc.
VitaCube Systems Holdings, Inc., d/b/a/ XELR8 Holdings, Inc., is a
provider of nutritional foods and beverages designed to help
enhance physical health and overall performance. XELR8 has
developed a comprehensive line of nutritional supplements and
functional foods designed in systems that are easy to take, simple
to understand, and conveniently fit within a lifestyle. XELR8's
commitment to quality, science, and research has earned them a
loyal following of over 350 world-class athletes, such as five-time
Cy Young Award Winner Randy Johnson; Super Bowl Champions Mike
Alstott, Lawyer Milloy and Head Coach Mike Shanahan; Olympic
Medalists Briana Scurry and Caroline Lalive; Stanley Cup Winner
Blake Sloan; and PGA Tour Professional Tom Pernice, Jr. XELR8
products are only available through independent distributors
located throughout the nation. For more information about XELR8,
please visit http://www.xelr8.com/ . Forward-looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including prospects for XELR8's distribution network. Actual
results may differ from those discussed in such forward-looking
statements. These forward looking statements include risks and
uncertainties that include the Company's ability to attract and
retain distributors; changes in demand for the Company's products;
changes in the level of operating expenses; changes in general
economic conditions that impact consumer behavior and spending;
product supply; the availability, amount, and cost of capital for
the Company; and the Company's use of such capital. More
information about factors that potentially could affect the
Company's financial results is included in the Company's filings
with the Securities and Exchange Commission, including its Annual
Report on Form 10-KSB for the year ended December 31, 2004 and all
subsequent filings. Certain statements in this release regarding
the Company's agreements are in accordance with the guidelines
established by the Federal Trade Commission for endorsements in
advertising.
http://www.newscom.com/cgi-bin/prnh/20050926/FLM015LOGO
http://photoarchive.ap.org/ DATASOURCE: XELR8 Holdings, Inc.
CONTACT: Earnest Mathis, CEO, VitaCube d/b/a XELR8 Holdings, Inc.,
+1-303-316-8577, ext. 228, or ; or Dodi Handy, President and CEO,
Elite Financial Communications Group, LLC, +1-407-585-1080, or ,
for XELR8 Holdings Web site: http://www.xelr8.com/
http://www.edgewaterresearch.com/
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