Contact Information: Contact: Rick Oh Taglich Brothers, Inc. 631-757-1500
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.
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Company defines the microcap segment of the equity market as companies with
less than $250 million in market capitalization. Taglich Brothers currently
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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
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2006, and after the first year of publication will pay a monthly monetary
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