ORLANDO, Fla., Aug. 28, 2008 (GLOBE NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., today announced that it has dropped research coverage on New Generation Biofuels Holdings, Inc. (AMEX:GNB).
RedChip Companies' initial rating of "Speculative Buy" and 24-month target price of $11.00 and recent rating of "Speculative Buy" and 24-month target price of $9.75 are no longer active. For further information on RedChip Companies, its rating system and its dropping coverage policy, please visit http://www.redchip.com/independent/redchipresearch.asp?show=dropped and review any and all pertinent policies and disclosures.
About New Generation Biofuels Holdings, Inc.
New Generation Biofuels is a renewable fuels provider. The company holds an exclusive license for North America, Central America and the Caribbean to commercialize proprietary technology to manufacture alternative biofuels from vegetable oils and animal fats that they market as a new class of biofuel for power generation, heavy equipment, marine use and as a commercial heating fuel.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm with offices in Orlando, Florida; Shanghai; and Paris, with affiliates in Atlanta and New York. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research(tm), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Internet TV(tm), and RedChip Radio(tm). To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp.
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RedChip Visibility Research Disclosure
None of the profiles issued by RedChip Companies, Inc., constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. New Generation Biofuels Holdings, Inc. paid RedChip Visibility, a division of RedChip Companies, Inc., $20,000 for RedChip Visibility Program services, which included the preparation of the equity research reports. RedChip Companies, Inc., is currently engaged by this company to provide investor awareness services. Investor awareness services and programs are designed to help small-cap companies communicate their investment characteristics. RedChip Companies, Inc., has received 50,000 warrants with a strike price of $2.00 and 50,000 warrants with at strike price of $3.00 from New Generation Biofuels Holdings, Inc. for investor relations services. RedChip Companies, Inc., employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein. To the fullest extent permissible under applicable law, RedChip Companies, Inc., will not be liable to you or anyone else for the quality, accuracy, completeness, reliability, or timeliness of this information.