Pacific WebWorks Announces Issuance of Buy Recommendation
October 21 2009 - 6:00AM
Business Wire
Pacific WebWorks (OTCBB: PWEB) announced today that Grass Roots
Research and Distribution, Inc., Wall Street's leading small cap
research firm, has issued a "BUY" recommendation on Pacific
WebWorks. Their report includes a short-term price target of $.52
and a $1.75 long-term price target. The analyst anticipates net
profits of $3.70 MM, or .09, for 2009 and net profits of $6.75 MM,
or .16, for 2010.
The report can be viewed at www.grassrootsrd.com.
About Cohen Independent Research Group
Led by Paul Cohen, Grass Roots Research and Distribution, Inc.
is Wall Street's #1 Independent Research Firm. As founder of Bear
Stearns Western Regional Offices, Paul Cohen was one of the
original 12 Dirty Dozen analysts regarded by many to be the top 12
security analysts in the nation. Mr. Cohen was also the West Coast
Senior Vice President of CBWL-Hayden Stone-American Express. Mr.
Cohen's partners were Sanford I. Weill (past Chairman and CEO of
CitiGroup and past Chairman of Solomon Smith Barney) and Arthur
Levitt (past Chairman of the Securities and Exchange Commission
(SEC)).
Cohen Independent Research Group includes PhDs, MDs, CFAs
(chartered financial analyst), CPAs (certified public accountant)
and 21 analysts covering most industries. For more information
readers can visit the company's website at
www.cohenresearch.com.
About Pacific WebWorks, IntelliPay and TradeWorks
Marketing
Pacific WebWorks provides a comprehensive suite of affordable,
easy-to-use software programs for small businesses that want to
create, manage, and maintain an effective Web strategy including
full e-commerce capabilities. Pacific WebWorks operates a number of
wholly owned subsidiaries including IntelliPay, TradeWorks
Marketing and others.
Forward-Looking Statements
All statements other than statements of historical fact included
in this press release are forward-looking statements. Words such as
"anticipate," "believe," "estimate," "expect," "intend" and other
similar expressions as they relate to the Company or its
management, identify forward-looking statements. Such
forward-looking statements are based on the beliefs of the
Company's management as well as assumptions made by and information
currently available to the Company's management. These statements
are not a guarantee of future performance. Actual results could
differ materially from those contemplated by the forward-looking
statements as a result of certain factors, including the Company's
ability to maintain sufficient credit card processing capabilities
to service the demands of their hosting portfolio and other risk
factors discussed under the caption "Risk Factors" in our Annual
Report on Form 10-K for the year ended December 31, 2008 as filed
with the Securities and Exchange Commission. Such statements
reflect the current view of the Company's management with respect
to future events and are subject to these and other risks,
uncertainties and assumptions related to the operations, result of
operations, growth strategy and liquidity of the Company. All
subsequent written and oral forward-looking statements attributable
to the Company or persons acting on its behalf are expressly
qualified in their entirety by this paragraph. The Company has no
intention, and disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future results or otherwise.
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