PRH Vitacube Systems Hld

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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