SEBASTOPOL, Calif., Nov. 16, 2000 (PRIMEZONE) -- ZAPWORLD.COM (Nasdaq:ZAPP) announced today that Union Atlantic Capital, L.C., a wholly owned subsidiary of vFinance.com (OTCBB:VFIN) has initiated research coverage with a "BUY" rating.
California-based ZAPWORLD.COM is a leader in the design, production and marketing of electric bicycles, scooters, motorcycles and other electric transportation products.
Union Atlantic Capital's analyst, Nicole S. Mager, cited ZAPWORLD.COM's potential for an increased product order backlog, revenue growth, rapid expansion of the electric vehicle (EV) industry and patented technology as the main reasons for the rating. Union Atlantic Capital, L.C. will offer the research report for free at http://www.ualc.com starting on November 13, 2000.
The United States EV market will grow at an impressive rate of 27 percent annually through 2005, when it will become a $7 billion industry, according to a research study by Business Communications Co., Inc.
"ZAPWORLD.COM is still an undiscovered public "pure play" company in the fast growing, government-mandated industry of electric vehicles," Mager said. "The Company has a record of revenue growth and a strong cash position. Combine this with its 13 patents in the EV field as well as the projected growth of the market, and you have a company that is uniquely positioned to significantly increase its product order backlog and is poised for upward movement."
About Zapworld.com:
Zapworld.com is a worldwide leader in the design, manufacture and marketing of electric bicycles, scooters, motorcycles and other electric transportation products. Since 1994, ZAP(R) (Zero Air Pollution(R)) has "ZAPPED" thousands of commuters and recreational cyclists in almost every part of the world. ZAP's fun, innovative and affordable products have pioneered a new niche in personal transportation. For more information please visit www.zapworld.com.
About UALC:
Union Atlantic Capital, L.C. (a NASD member firm) is a wholly owned subsidiary of vFinance.com (OTCBB:VFIN). Union Atlantic Capital, L.C. is a full-service Investment Banking firm with offices in Fort Lauderdale, Fla. and Atlanta, specializing in mergers & acquisitions and private placements in both private and public companies. Mailto: raisemoney@ualc.com.
Contact Alex Campbell at 707/824-4150 x 241 or email alex@zapworld.com for information on Zapworld.com. For information on Union Atlantic Capital, L.C., contact Joshua Glanzer at 305/702-7027 ext. 204 or email josh@vfinance.com. Photos are available on request.