NEW YORK, Oct. 14, 2004 (PRIMEZONE) -- (Investrend Research Syndicate) Perfisans Holdings, Inc. (OTCBB:PFNH). Benchmark research coverage has been initiated at "Speculative / 3" by Investrend Research analyst Stephanie Loiacono, CFA.
Loiacono said the Perfisans target market is the $1 billion potential in NIC chips and iSCSI (Internet Small Computer Systems Interface) chips aimed at the small enterprise and small home office and consumer market, where the major players are Broadcom (Nasdaq:BRCM), Intel (Nasdaq:INTC) and Adaptec (Nasdaq:ADPT).
"By focusing on this niche segment of the marketplace, the company is better able to distinguish its products and attract OEM partnerships. If Perfisans is successful in seizing market share, the potential appears great," she said.
"The Company believes its quick turn around time and speed to market makes it more nimble. We see early signs that the Company's business plan is being executed as expected. We are also positively influenced by the Company's first product launch, which took place on time, which generated a sales order on time, and for which purchase orders are still being negotiated.
"Typical of start-ups, cash adequacy is a problem. Perfisans currently estimates cash needs at $10 million over the next 12 months. Approximately $4 million has been secured from two investors. The Company must ramp up sales quickly and sell securities to cover the additional $6 million. Sales orders have materialized in early October 2004, exactly when management said they would. The Company estimates sales will reach $8 million over the next 12 months. We believe the Company has the right ingredients to achieve an edge in speed-to-market and capturing customers; however, at this early stage of development, there is limited financial proof of competitive advantage."
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