Grass Roots Research and Distribution, Inc. Issues a Positive Analysis and Summary of STTN With a Target $1.26 Target Price
08 Marzo 2010 - 2:00PM
PR Newswire (US)
NEWPORT BEACH, Calif., March 8 /PRNewswire-FirstCall/ -- Smart-Tek
Solutions, Inc. (BULLETIN BOARD: STTN) is pleased to announce that
Grass Roots Research and Distribution, Inc. (Grass Roots) has
issued a positive analysis summary of the company with a long-term
target price of $1.26. The current market price is $0.50. Grass
Roots has been compensated by STTN for the analysis of the report;
for the full report and more information including complete
compensation disclosure please visit Grassroots website
http://www.grassrootsrd.com/ and access the icon for STTN. The
report is also available on STTN's subsidiary Smart-Tek Automated
Services, Inc.'s website: http://www.smart-tekservices.com/. The
Grass Roots report states its growth estimates assume that STTN
will successfully raise approximately $2 million in funds in fiscal
2010. "Based on an average of these methods, STTN common stock is
valued at $1.26 per share, 151.7% higher than current market price
of $0.50." About Smart-Tek Solutions, Inc.: Smart-Tek Solutions,
Inc., generates revenue from the installation of security systems
in construction projects. Its board is currently in negotiations to
sell its original business and focus entirely on the PEO business
of its wholly owned subsidiary, in order to achieve the best value
for its shareholders. The original business generated $3.3 and $3.8
million of revenue in 2009 and 2008 respectively, and $0 and ($3.1)
loss of earnings in 2009 and 2008 respectively. About Smart-Tek
Automated Services, Inc.: Smart-Tek Automated Services, Inc.
provides financial services to small and medium-size businesses,
relieving our clients from many of the day-to-day tasks that
negatively impact their core business operations, such as payroll
processing, human resources support, workers' compensation
insurance, safety programs, employee benefits, and other
administrative and aftermarket services predominantly related to
staffing - staff leasing, temporary staffing and co-employment. It
not only provides core services but a wide selection of employee
and employer benefits and aftermarket products. Safe Harbor:
Statements in this press release that are not historical facts are
forward-looking statements, including statements regarding future
revenues and sales projections, plans for future financing, the
ability to meet operational milestones and marketing arrangements
and plans.. Estimated revenues from its Smart-Tek Solutions, Inc.
subsidiary are somewhat subjective and based on information
available to the Company at the time of the determination. Also,
such statements reflect management's current views, are based on
certain assumptions and involve risks and uncertainties. Actual
results, events, or performance may differ materially from the
above forward-looking statements due to a number of important
factors, and will be dependent upon a variety of factors,
including, but not limited to, the continued growth of business as
planned including the fruition of new agreements in hand, existing
business staying intact, and our ability to obtain additional
financing that will allow us to continue our current and future
operations and whether demand for our products and services in
domestic and potential international markets will continue to
expand. The Company undertakes no obligation to publicly update
these forward-looking statements to reflect events or circumstances
that occur after the date hereof or to reflect any change in the
Company's expectations with regard to these forward-looking
statements or the occurrence of unanticipated events. Factors that
may impact the Company's success are more fully disclosed in the
Company's most recent public filings with the U.S. Securities and
Exchange Commission, including its annual report on Form 10-K for
the year ended , and its subsequent filings with the SEC.
Disclaimer: Earnings Estimates are calculated by Grass Roots based
on the earnings projections made by the analyst who covers
Smart-Tek Solutions, Inc.. Please note that any opinions, estimates
or forecasts regarding Smart-Tek Solutions, Inc.'s performance made
by these analysts are theirs alone and do not represent opinions,
forecasts or predictions of Smart-Tek Solutions, Inc. or its
management. Smart-Tek Solutions, Inc. does not by its reference
above or distribution imply its endorsement of or concurrence with
such information, conclusions or recommendations. DATASOURCE:
Smart-Tek Solutions, Inc. CONTACT: Brian Bonar of Smart-Tek
Solutions, Inc., +1-858-705-3713,bbonar@smart-tekservices.com Web
Site: http://www.smart-tekservices.com/http://www.grassrootsrd.com/
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