Ludlow Energy Ventures Initiates Research Coverage on Essential Innovations Technology Corp.
July 31 2008 - 12:26PM
PR Newswire (US)
BELLINGHAM, Wash., July 31 /PRNewswire-FirstCall/ -- Essential
Innovations Technology Corp. (OTC:ESIV) (BULLETIN BOARD: ESIV) the
"Company" announced today that Ludlow Energy Ventures, Inc has
initiated research coverage of Essential, with a 'speculative' B+
rating. COVERAGE SUMMARY Mark Blackwell, Research Analyst with
Ludlow Energy Ventures commented, "Although Essential Innovations
Technology only has a market cap of $1.44 million and incurred a
net loss of $1,107,557 last quarter, a large amount of that
recorded loss was non-cash, and in fact the company has shown a
strong and sustained stream of revenue, it has redefined its
efforts to focus almost entirely on manufacturing activities and in
that regards it is now pursuing the establishment of a quality JV
partnership in Vietnam to increase such manufacturing capacity.
This joint venture when finalized should give the company an
extreme competitive advantage as it will provide for the
significant reduction of labor and material costs while
geographically positioning the Company to take full advantage of
unique distribution channels available to it throughout much of the
Asian marketplace. "If the company moves forward and continues to
secure on-going private placement equity as it has in the past, I
am extremely confident that the management team of Essential will
allocate the resources effectively to execute on the company's
strategy of increasing revenue and growth from the manufacturing
division. "In my opinion, the stock is heavily undervalued, and
when compared to competitors on the market it has a strong
competitive advantage that will allow the company to grow and
differentiate itself against competitors. Furthermore, when looking
at the two major players in this distinctive market, LSB Industries
("ClimateMaster") and WaterFurnace Renewable Energy Inc.
("WaterFurnace"), these two companies are trading at a multiplier
of 30 - 35 times EPS. "Thus, Ludlow Energy Ventures has commenced
research coverage on ESIV, with a 'speculative' B+ rating, pending
that the company is able to move forward with the manufacturing
facility in the Vietnam." For a link to the full investment opinion
and risks associated with this company, visit
http://www.ludlowenergy.com/reports/esiv.html About Ludlow Energy
Ventures, Inc Based in New York City, Ludlow Energy Ventures is a
venture capital and research advisory firm with a specific focus on
the renewable and alternative energy markets. The goal of the firm
is to promote investments into alternative and renewable energy
projects and ventures worldwide. Ludlow Energy Ventures owns and
operates the Ludlow Energy Indices, which tracks a wide basket of
US traded large and small cap alternative energy stocks.
http://www.ludlowenergy.com/ About Essential Innovations Technology
Corp. Essential Innovations Technology Corp. provides cutting-edge
Geoexchange solutions for residential, commercial and industrial
applications as both a manufacturer of proprietary geothermal heat
pump technology and as a Geoexchange energy service company. The
Company was incorporated in April 2001, and it has four wholly
owned subsidiaries located in British Columbia, Canada and in Hong
Kong, SAR, China. For more information, please visit our website:
http://www.eitechcorp.com/. Forward-Looking Statements This news
release contains "forward-looking statements," as that term is
defined in Section 27A of the United States Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. Statements
in this press release, which are not purely historical, are
forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Investors are cautioned that such forward-looking statements
involve risks and uncertainties. These statements include, but are
not limited to, statements that do not describe historical facts
and statements that include the word "believes," "anticipates,"
"expects," "plans," "intends," "designs," "projects," "assumes," or
similar language, as well as statements regarding consumer or
marketplace acceptance of the Company's new or existing products;
comments concerning marketing and consumer acceptance of
proprietary products; the potential benefits of Essential
Innovations' products; initiatives undertaken by the Essential
Innovations' divisions; the Company's research, manufacturing and
facilities expansion programs; and the Company's growth, revenue,
or projected earnings; all such statements which may or may not
occur in the future. These forward-looking statements are made as
of the date of this news release, and Essential Innovations
Technology Corp. assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward- looking
statements. Although we believe that the beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no absolute assurance that such belief,
plans, expectations or intentions will prove to be completely
accurate. Investors should consult all of the information set forth
herein and should also refer to the risk factors disclosure
outlined in our periodic reports filed from time to time with the
Securities and Exchange Commission. DATASOURCE: Essential
Innovations Technology Corp. CONTACT: Jason McDiarmid of Essential
Innovations Technology Corp., +1-360-392-3902 Web site:
http://www.eitechcorp.com/ http://www.ludlowenergy.com/
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