Eco Ventures Announces Initiation of Coverage by Harbinger Research
GROVELAND, Fla., Nov. 19, 2012 /PRNewswire/ -- Eco Ventures Group, Inc. (OTCBB: EVGI), an emerging producer of diversified sustainable alternative energy and resources, today announced that Harbinger Research, LLC, an independent equity research firm, has initiated research coverage on the Company available at http://www.harbingerresearch.com/clients/evgi.
Harbinger Research Report
The Harbinger Report is authored by Brian R. Connell , CFA, Senior Research Analyst at Harbinger. Mr. Connell's research report provides a detailed financial model which incorporates the Company's organic growth initiatives, its pending acquisition of EPS, as well as a description of Eco Ventures' business, industry, services, strategy, management team, the investment case and risks, price targets and more.
Harbinger Research covers a number of U.S. listed companies. Eco Ventures provides the link to this Report as courtesy to its shareholders for informational purposes. The price targets, financial projections and other opinions contained in the report are strictly those of the analyst and not of Eco Ventures.
About Brian R. Connell and Harbinger Research, LLC
Brian R. Connell , CFA, is Senior Managing Director at Harbinger. He has over 15 years' experience in the securities industry, as an equity analyst and portfolio manager, and as the founder and CEO of StreetFusion (acquired by CCBN/StreetEvents), a software company serving the institutional investment community. On the sell-side, Mr. Connell served as the technology analyst for Neovest, an Atlanta-based boutique, and as a Senior Analyst - Internet for Preferred Capital Markets, an investment bank based in San Francisco. Mr. Connell has also held the position of Executive Director of Marquis Capital Management, a technology-focused investment management organization.
Mr. Connell founded Harbinger Research in 2004 with the purpose of providing high quality research coverage to deserving smaller companies. Mr. Connell also holds degrees in Economics and Psychology from Duke University, and is a CFA Charterholder.
Harbinger Research is an independent equity research firm that employs a research team consisting entirely of CFA charter holders and follows a number of companies across a wide variety of industries. Harbinger Research makes all of its reports available through its website at http://www.harbingerresearch.com, and also distributes content through a variety of partners, including InvestorsInsight Publishing, and through most major financial portals.
About Eco Ventures Group
Eco Ventures Group, Inc. ("EVGI") is both acquiring and developing a portfolio of ecologically friendly businesses to provide renewable energy and related feedstock (www.ecoventuresgroup.com).
The Company on August 7 reported it had signed a Definitive Agreement to acquire EPS. EPS is a Germany-based diversified alternative energy feedstock, transportation, heat & solar power production company with approximately 50 employees -- whose primary business is the production, processing and brokering of alternative energy feedstocks including rapeseed, palm oil and wood. Based on interim Nov. 2012 results, the company is on a projected run rate for $45 million in 2012 revenue, profitably, for more than 78 percent revenue growth annually since 2009. The acquisition combines two renewable energy companies whose technology, bio fuel and grid-tied energy products will create a diversified international platform with important operating synergies.
Safe Harbor Statement
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: EVGI encourages those interested in our Company to rely only on information included in our filings with the United States Securities and Exchange Commission which can be found at www.sec.gov. Statements released by Eco Ventures Group, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future to include all those of its intended acquisition of Energiepark Suptitz, GmbH. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
Eco Ventures Group, Inc.
7432 E. Highway 50, Suite 101
Groveland FL 34736
Phone: (352) 557-4830
Tel: (561) 989-3600
SOURCE Eco Ventures Group, Inc.
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