Undervaluation of Stock at Brake Headquarters U.S.A., Inc.
7 August 1998
Undervaluation of Stock at Brake Headquarters U.S.A., Inc.LONG ISLAND CITY, N.Y., Aug. 7 -- Brake Headquarters U.S.A., Inc., (the "Company"), Management states "There has been no event within recent months in the operations of the Company which would cause the price of the stock to drop from 6-1/2 at December 31, 1997 to $.34 August 5, 1998 closing price." The Company has learned this week, that its principal market maker has ceased operations. Management also states "The stock is currently grossly undervalued, and the managers of the Company are going in the open market to purchase shares of Brake Headquarters' stock." The Company has been engaged in business as a wholesaler of undercar parts since 1976. The Company imports, assembles, distributes and manufactures wide variety of parts to the automotive aftermarket industry.