FORT WORTH, TX / ACCESSWIRE / February 25, 2014 / Firemans Contractors Inc. (OTCQB: FRCN) announces a third party research report and valuation has been completed on the Company. On December 18, 2013 we promised in our Strategic Plan for 2014 that we would obtain third party opinions on valuation for our Company. The first of these is now complete and is issued by Grass Roots Research and Distribution, Inc. The report was published yesterday after the market close and can be found at this link (a free registration may be required):
http://www.grassrootsrd.com/Document.aspx?rid=289
The report can also be found on the Grass Roots Research website here:
http://www.grassrootsrd.com/grassrootsrd/Reports/Firemans_Contractors_02_24_2014.pdf
The PDF of the report can be downloaded without registration on this link just above.
The report took into consideration four different valuation methodologies, weighting each at 25%. This is explained in detail on page two of the report. Grass Roots Research issues at times at "Cohen Price Index Target" and that target for Firemans Contractors is $0.007.
It is important to remember that this is the opinion of one analyst’s firm. As they state in their disclosures on the final page, Grass Roots Research cannot be considered "independent" since they are paid to do the research usually by either the covered company or a non-controlling third party. We have provided this to our investors with that full understanding. We believe in transparency in public companies. We want our investors to know as much as possible about Firemans Contractors to make informed decisions. This report should be just part of the process of due diligence. We absolutely recommend reading all of the SEC filings and press releases for Firemans Contractors to get a more thorough understanding.
About Firemans Contractors:
Firemans Contractors, Inc. (FRCN) is a Franchisor and full-service General Contractor providing professional services for commercial and government clients, focused on developing Business to Business Franchise Opportunities throughout the United States. Its services include Road Improvements, Pavement Maintenance, Seal Coating, Parking Lot Striping, Pavement Marking, Asphalt Maintenance and Repair, and ADA Compliance. Firemans Contractors brings a professional value system delivering outstanding results through honorable customer relationships and repeat business. Local firefighters are supported by a portion of profits which are donated to local Firefighter Associations. Firemans Contractors is a proud member of the Franchise Association (IFA) and The Veteran Transition Franchise Initiative (VetFran). As a member, Firemans Contractors is expanding through franchise development, aimed to assist the Company in expanding its market share. As a franchisor, the Company will provide franchisees with training and support, including the proprietary Firebase™ software platform, which is included along with other business tools and training for new franchisees of Firemans Contractors.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement.
Contact:
Renee Gilmore
CEO/Chairwoman
800-475-1479
John Pentony
Investor Relations
Telephone: 972-292-8930
Email: [email protected]
Firemans Contractors on the web: http://www.firemanscontractors.com/
SOURCE: Firemans Contractors, Inc.