SOURCE: Harmonic Energy Inc.
LONDON--(Marketwire - Oct 31, 2012) - Harmonic Energy Inc. (OTCBB: ASUV) (OTCQB: ASUV) is a company focused on tire manufacturing and recycling, using an innovative approach to energy efficiency and sustainability. Harmonic is honored to announce that Cohen Independent Research Group, Inc., Wall Street's leading independent fundamental research firm, has issued a research report on Harmonic Energy with a "buy" recommendation and a long-term target price of $5.26.
The Cohen Price Index Target is calculated using 2013 Price-to-Earnings ratio (P/E), Cohen Price-to-Capital Employed ratio (P/CE), Cohen Discounted Cash Flow (DCF). The P/E and P/CE are based on market multiples and representative of the broader industry in which the Company operates. The last component in calculating the Cohen Price Index Target is the value derived using the long-term DCF valuation approach. Based on an average of these methods, ASUV's common stock is valued at $5.26 per share.
Download a copy of this report www.harmonicenergyinc.com/investors/presentations
Led by Paul Cohen, Cohen Independent Research Group is Wall Street's leading Independent micro-cap research firm, concentrating on emerging companies with strong management teams focused on shareholder value and sustainable competitive advantage. As founder of Bear Stearns Western Regional Offices, Paul Cohen was one of the original 12 Dirty Dozen analysts, regarded by many to be the top 12 security analysts in the nation. Mr. Cohen was also the West Coast Senior Vice President of CBWL-Hayden Stone-American Express. Mr. Cohen's partners were Sanford I. Weill (past Chairman and CEO of CitiGroup and past Chairman of Solomon Smith Barney) and Arthur Levitt (past Chairman of the SEC).
Cohen Independent Research Group includes nine PhDs, two MDs, six CFAs, three with CPAs and 21 analysts covering most industries. The backbone of the fundamental research targeted at stock investment includes investigative research into significant corporate events, thorough review of SEC filings, in depth financial analysis, valuations, and management profiles. For more information visit www.cohenresearch.com
About Harmonic Energy Inc.
Harmonic is a company that focuses on a comprehensive solution to the disposition of scrap tires worldwide. Harmonic plans include the utilization of proven technologies that ensure each scrap tire is either remanufactured and put back on the road as a new tire or is completely recycled and reduced into marketable chemical commodity products. Both the tire remanufacturing and carbonization technologies that will be utilized by Harmonic are commercially proven and have viable operating commercial facilities.
Harmonic plans to be the first company to integrate these two technologies to provide a comprehensive 'closed-loop' solution for the management of scrap tires. By design, Harmonic plans to offer a solution that replicates nature's intentions by developing symbiosis between waste, energy supply and sustainable growth.
This news release contains forward-looking statements, which may not be based on historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by applicable securities laws, the Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.