News Room
Press Release
InterSearch Group Rated ’Speculative Buy,’ Target $.56 By Investrend Affiliate Beacon Equity Research
SAN FRANCISCO, CA.— April 14, 2005 8:30 AM ET
InterSearch Group, Inc. (OTC: ISGP - News ) has been rated "Speculative Buy" with a price target of $.56 by Investrend Research Affiliate Beacon Equity Research. The report is co-authored by Varsha Chitale, CFA and Anupama Janardhanan.
The full report is available at http://www.beaconequityresearch.com and http://www.investrendresearch.com
In the report, the authors write, "InterSearch Group Inc. owns and operates leading businesses in the Internet Advertising and IT sectors. InterSearch’s companies focus on growth sectors of the paid search marketplace. InterSearch owns and operates sites, technology and traffic in a number of high value retail and corporate channels and monetizes that traffic utilizing partnerships with tier-1 industry leading PPC and CPM advertising providers. InterSearch offers a wide variety of search services and products across InterSearch companies, from Registrar & Domain name channel monetization to desktop search management tools to corporate search solutions.
InterSearch has already achieved profitability and positive cash flows from operations. This strong financial performance provides the Company a competitive advantage from other early-stage search companies.
On discounting the free cash flow at a rate of 14%, and taking a perpetuity growth rate of 12%, the total value of the company is estimated at $366 million over a five-year horizon. Based on 134 million shares currently outstanding, the fair value per share works out to $2.72. However, the Company has 115,442,776 outstanding preferred shares, which have a conversion option of 5 common shares for every one preferred share. Hence, the conversion results in the creation of additional 577,213,880 common shares. With an estimated 711,933,895 million shares outstanding, the fully-diluted per share value is around $0.56."
Beacon Equity Research, LLC is a fee-based, comprehensive investment research firm, focusing primarily on the underserved small-cap sector. All Beacon analysts are seasoned industry professionals and adhere to the CFA Institute’s (CFAI) stringent ethics and standards of practice guidelines. Beacon Research does not have any investment banking relationships with any of the companies covered. All analysts are compensated prior to performing their investment research and are not compensated in any way based on the future performance of the equities they follow.
Both Beacon Equity Research and Investrend subscribe to the "Standards for Independent Research Providers" at http://www.firstresearchconsortium.com. Beacon Research Partners has been compensated $18,000 by InterSearch Group, Inc. for one year of enrollment in its research program.
Complete information is available at the company’s InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes. Investors are advised to read disclosures carefully before trading in the equities of any enrolled company.
Anyone interested in receiving alerts regarding InterSearch research should email contact@investrend.com with "ISGP" in the subject line.
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Contact:
Beacon Equity Research
Jeff Bishop
editor@beaconequityresearch.com
www.beaconequityresearch.com
OR
Investrend Research
R. Hempel
718-896-5060
contact@investrend.com
www.investrendresearch.com
OR
Dan O’Donnell, President and CEO
415-901-0410 Ext. 411
dodonnell@intersearch.com