LENEXA, Kan., Aug. 17 /PRNewswire-FirstCall/ -- ICOP Digital, Inc.
(Nasdaq: ICOP), an industry-leading company engaged in advancing digital
surveillance solutions, today announced that MDB Capital Group, LLC has issued
a Research Update maintaining its Buy rating with a revised 9-12 month price
target of
Jon R. Hickman, Director, Equity Research at MDB Capital Group, stated, "Though revenues (this past quarter) missed consensus estimates, management remains extremely up beat and confident that revenues for the remainder of 2007 will accelerate from current levels. Key events during the quarter (apart from the numbers) include:
-- The launch of the new safety depositary software product, the ICOP iVault, should be available in Q3. -- The appointment of Mr. Tully Plesser to the company's corporate advisory board to aid ICOP in its global marketing strategies. -- In collaboration with Sprint, ICOP exhibited at several law enforcement and public safety conferences at locations across the country including Nevada, New Jersey, New York, North Carolina and Ohio. -- Record number of Model 20/20-W units shipped in Q2 to 21 law enforcement agencies across 17 states." Continuing, Hickman noted, "Though we continue to anticipate revenues
expanding year-over-year at near triple digit rates, the difficulty of timing
larger orders is causing us to lower our future revenue and earnings
projections. As a result, for 2008 we now anticipate revenues of
For more information on how to access this report, please contact Elite Financial Communications Group at 407-585-1080 or via email at [email protected].
The opinions expressed in the MDB Capital Growth Research Update are those of the analyst and not of ICOP Digital, Inc. ICOP does not accept responsibility for the accuracy of any of the information contained in this report. For information provided by ICOP with respect to its business and business prospects, as well as the risks associated with an investment in ICOP's stock, please see the Company's reports filed with the Securities and Exchange Commission, copies of which are available at http://www.sec.gov and also on the Company website at http://www.ICOP.com.
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The analyst(s) whose name appears with an * on the front page of this report (*Jon R. Hickman) certifies that the views expressed herein accurately reflect the analyst's personal views as to the subject securities and issuers, and further certifies that no part of such analyst's compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in the report.
Closing price of last business day immediately prior to the date of this publication.
The analyst(s) responsible for this research report has received and is eligible to receive compensation, including bonus compensation, based on MDB Capital Group LLC's ("MDB") overall operating revenues, including revenues generated by MDB's investment banking department. Our brokers and analysts may make recommendations to their clients and our affiliates may make investment decisions that are contrary to the recommendations contained in a research report. Such recommendations or investment decisions would be based on the particular investment strategies, risk tolerances and other investment factors particular to a client or an affiliate. In the normal course of its business, MDB seeks to perform investment banking and other services for various companies and to receive compensation in connection with such services. As such, investors should assume that MDB intends to seek investment banking or other business relationships with the companies. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. Because of individual client objectives, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change. The report is not to be construed as an offer or the solicitation of an offer to buy or sell the securities herein mentioned. From time to time, MDB, its affiliated entities and their respective directors, officers, employees or members of their immediate families may have a long or short position in the securities mentioned in this report. These securities may be sold to or purchased from customers or others by MDB acting as principal or agent. MDB does not make a market in this stock.
This publication has been issued and approved by MDB under a compliance routine approved by MDB, for distribution to non-private clients. MDB Capital uses the following rating system for securities it covers: Buy, Neutral, and Sell. MDB instituted the above three tiered rating system in May 2003 . MDB stock ratings are defined as follows: Buy: the stock is expected to outperform the market by 15 or more percentage points; Neutral: the stock is expected to perform in line with the market, plus or minus 5 percentage points; Sell: the stock is expected to under perform the market by 15 or more percentage points. The current distribution of MDB's ratings is as follows: Buy = 83.3%, Neutral = 16.7% and Sell = 0.0%. The percentage of issuers in each of three tiered rating categories to which MDB has provided investment banking services in the past 12 months is as follows: 0% of Buy Rated Companies; 0% of Neutral Rated Companies and 0% of Sell Rated Companies as of midnight on the business day immediately prior to the date of this publication.
About MDB Capital Group LLC
MDB Capital Group is a research driven investment bank providing financial services to privately held companies and emerging growth public companies, as well as institutional asset management firms, mutual funds, hedge funds and high net worth individuals. Founded in 1997, MDB provides the following professional services: Equity Research, Equity Sales and Trading, Investment Banking, Fixed Income Sales and Trading and Fixed Income Portfolio Management. MDB is an NASD licensed broker-dealer and a member of the Securities Investor Protection Corporation ("SIPC"). MDB conducts its sales and trading activities in Santa Monica , California. MDB is a market maker in selected NASDAQ securities.
About ICOP Digital, Inc.
ICOP Digital, Inc. protects people, assets and profits, providing a Veil of Protection(TM) for our nation's communities with innovative, mission- critical security, surveillance and communication solutions. The Company engineers, manufactures and markets mobile and stationary surveillance products for use in the public and private sectors, and facilitates the delivery of live video to first responders. The ICOP Model 20/20(R), ICOP's flagship product, is the leading digital in-car video recorder system for law enforcement. The ICOP Guardian(TM) is a stationary IP camera that records high quality video images on a local server, and is capable of activation through several triggers. ICOP LIVE(TM) delivers live streaming video to and from first responder vehicles and headquarters, empowering first responders with enhanced situational awareness, helping to optimize the outcome of a crisis. (GSA Contractor)
For more information, please view the following video presentations at http://www.icopdigital.com/why_icop.html and http://www.ICOP.com/veil.html, or visit http://www.ICOP.com.
Safe Harbor Statement
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the company and its operations, are included in certain forms the company has filed with the Securities and Exchange Commission.
For more information, contact: Laura E. Owen, COO & President 16801 West 116th Street Lenexa, KS 66219 USA Phone: (913) 338-5550 Fax: (913) 312-0264 [email protected] http://www.ICOP.com For ICOP Investor/Media Relations: Elite Financial Communications Group/Elite Media Group Dodi Handy, President and CEO Phone: (407) 585-1080 [email protected]SOURCE ICOP Digital, Inc.
