August 6, 2008
Ludlow Energy Issues Research Opinion on Southridge Enterprises, Inc., Price Target of $0.40 Per Share
DALLAS, Aug. 6 /PRNewswire-FirstCall/ -- Ludlow Energy Ventures, Inc. issues research opinion on Southridge Enterprises, Inc. (BULLETIN BOARD: SRDG) , a producer and distributor of biodiesel fuel through wholesale and retail, with a 'speculative' B-rating, and near-term price target of $0.40 per share.
For the nine months ending May 31, 2008, Southridge reported total revenues of $11,760,000, with a gross profit of $5,033,000. For the same nine-month period the company reported total net income of $4,006,062, or a $0.04 EPS.
Mark Blackwell, Research Analyst with Ludlow Energy Ventures commented, "Giving a conservative PE of 10 SRDG should be trading at $0.40 based on their previous nine month EPS result of $0.04 per share. Based on a current market price of $0.06 per share the company is only trading at 1.5 x recent nine- month EPS results. Thus, Ludlow Energy Ventures has updated its research opinion on SRDG with a 'speculative' B+ rating and a short-term price target of $0.40."
Dallas-based Southridge is developing ethanol plants in Mississippi, Texas, El Salvador and Brazil.
For a link to the full investment opinion, and risks associated with this company visit -- http://www.ludlowenergy.com/reports/srdg.html
About Southridge Enterprises, Inc.
Southridge Enterprises is a renewable energy company with a mission to become the ethanol producer of choice in the southeastern region of the United States. The Company is focusing its efforts in an area which offers abundant supplies of corn, superior transportation infrastructure and expedited permitting processes. The Company is actively acquiring and developing ethanol production facilities and anticipates start-up of the first phase of these operations in 2009. Southridge Enterprises is headquartered in Dallas, Texas. For more information, please visit our website: http://www.southridgeethanol.com/
This news release contains "forward-looking statements," as that term is defined in Section 27A of the Act and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, successfully equipping the Quitman County plant for the production of ethanol, and the start-up of production of in 2009, if at all.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the development of an early stage company in the alternative energy industry, its products, and the entry into new markets for such products. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's current and periodic reports filed from time to time with the Securities and Exchange Commission.
Contact: Ludlow Energy Ventures, Inc. Sarah Kapchinske Phone: (212)-233-2864 Email: [email protected]
Southridge Enterprises, Inc.
CONTACT: Sarah Kapchinske of Ludlow Energy Ventures, Inc.,+1-212-233-2864, [email protected], for Southridge Enterprises, Inc.
Web site: http://www.southridgeethanol.com/