SOURCE: Manchester, Inc.

May 03, 2007 09:45 ET

Taglich Brothers Initiates Coverage on Manchester, Inc.

NEW YORK, NY -- (MARKET WIRE) -- May 3, 2007 -- Taglich Brothers, Inc. announces it initiated coverage of Manchester, Inc. (OTCBB: MNCS).

Manchester, Inc. (OTCBB: MNCS), headquartered in Dallas, Texas, retails used vehicles through nine automobile lots in Georgia (4) and Tennessee (2) operating as "Nice Cars," and Indiana (3) operating under the name "Freedom Auto Sales." The company operates on a "Buy-Here/Pay-Here" basis; sales, credit application and processing, and collections are all handled at the point of sale. The company extends financing through its own financing arm. Most of its customers are of limited means and have weak credit histories.

The company aims to pursue a strategy of "rolling up" Buy-Here/Pay-Here dealerships and selling the acquired receivables portfolios and receivables generated from ongoing retail operations. These receivables will be sold through a financial intermediary, the company's line of credit lender, which will bundle some of the receivables into securities (securitization) to be sold on the financial markets.

The complete 17-page report is available at www.taglichbrothers.com.

Taglich Brothers, Inc. is a full-service broker dealer focused exclusively on microcap companies. The Company defines the microcap segment of the equity market as companies with less than $250 million in market capitalization. Taglich Brothers currently offers institutional and retail brokerage services, investment banking and comprehensive research coverage to the investment community.

The information and statistical data contained herein have been obtained from sources, which we believe to be reliable but in no way are warranted by us as to accuracy or completeness. We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Pershing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statements are the opinion of Taglich Brothers, Inc. and are not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in the reports are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from the Director of Research. All research issued by Taglich Brothers, Inc. is based on public information. Taglich Brothers, Inc. does not currently have an Investment Banking relationship with the company mentioned and was not a manager or co-manager of any offering for the company within the last three years. The company paid for the creation and dissemination of research reports for the first year a monetary fee of $21,000 (USD) on December, 2006, and after the first year of publication will pay a monthly monetary fee of $1,750 (USD) to Taglich Brothers, Inc. for the creation and dissemination of research reports.

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Contact Information

  • Contact:
    Rick Oh
    Taglich Brothers, Inc.
    631-757-1500