RCG Research Initiates Coverage of Auto Network USA, Inc.
8 December 1998
RCG Research Initiates Coverage of Auto Network USA, Inc.
SAN FRANCISCO--Dec. 8, 1998--RCG Research today announced that they are initiating coverage of Auto Network USA, Inc. (OTCBB:ANWK) with an Accumulate rating.
Auto Network USA is a wholesaler of used late-model sports and luxury automobiles. Auto Network trades on the OTC Bulletin Board under the symbol ANWK.
Auto Network USA is one of the fastest growing wholesalers of used, late-model and luxury cars in the United States. The auto wholesaling industry has achieved a 10.2% compounded annual growth rate over the past 12-year period. Auto Network has capitalized on this strong industry and has been profitable since its inception in July 1997. The Company has recently acquired Pinnacle Dealer Services, Inc. to provide dealers access to lines of credit that will enhance transactions, as well as opening four new offices in the USA and Canada.
RCG Research is an equity research firm that specializes in coverage of micro-capitalized companies. They are located in San Francisco. A complete copy of the report can be viewed at www.managesource.com.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27 A of the Securities Act of 1933, Section 21 E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.