TEL AVIV, Israel, February 9 /PRNewswire-FirstCall/ -- MajicWheels Inc. (MJWL.OB), a leading developer of gravity defying remote-controlled toy cars, announced today that Grass Roots Research and Distribution, Inc., a Wall Street leading independent research firm, has initiated unsolicited coverage on MajicWheels Inc. with a "BUY" recommendation and a Long-Term Target Price of $0.18.

MajicWheels makes no representation regarding the price target or methodology contained in the report. Grass Roots provides an in-depth analysis, including 5-year financial and valuation projections, on MajicWheel's business and growth drivers. The research report and "Buy" recommendation on MajicWheels, Inc. can be found at: http://www.grassrootsrd.com/Reports/majic_wheels.pdf

About Grass Roots Research and Distribution, Inc. (GRRD)

GRRD performs fundamental securities research by forecasting and valuing companies in three cases over a 5-year period. GRRD's independent third party stock research business selectively initiates Independent Research Analyst Coverage for overlooked public corporations. GRRD distributes in-depth stock market research reports that highlight the company's market opportunity, technology, management, competition and other key differentiators that may affect their short and long term valuation.

About MajicWheels

MajicWheels brings innovation to the industry of radio-controlled toy cars through its groundbreaking, patented climbing device technology. MajicWheels intends to become a leading player in the climbing device radio-controlled toy car world, offering countless hours of fun to youth in the 6-12 year-old age bracket. Models will be offered in several aesthetically pleasing designs, and a variety of colors. Learn more about MajicWheels at http://www.majicwheels.com.

Forward-Looking Statements

This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of MajicWheels and its technologies. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated in the forward-looking statements. MajicWheels' public filings may be viewed at http://www.sec.gov.

SOURCE Majic Wheels Corp

Back to top