Pacific WebWorks Announces Issuance of Buy Recommendation

Wed Oct 21, 2009 6:00am EDT
 
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SALT LAKE CITY--(Business Wire)--
Pacific WebWorks (OTCBB: PWEB) announced today that Grass Roots Research and
Distribution, Inc., Wall Street's leading small cap research firm, has issued a
"BUY" recommendation on Pacific WebWorks. Their report includes a short-term
price target of $.52 and a $1.75 long-term price target. The analyst anticipates
net profits of $3.70 MM, or .09, for 2009 and net profits of $6.75 MM, or .16,
for 2010. 

The report can be viewed at www.grassrootsrd.com. 

About Cohen Independent Research Group

Led by Paul Cohen, Grass Roots Research and Distribution, Inc. is Wall Street's
#1 Independent Research Firm. As founder of Bear Stearns Western Regional
Offices, Paul Cohen was one of the original 12 Dirty Dozen analysts regarded by
many to be the top 12 security analysts in the nation. Mr. Cohen was also the
West Coast Senior Vice President of CBWL-Hayden Stone-American Express. Mr.
Cohen's partners were Sanford I. Weill (past Chairman and CEO of CitiGroup and
past Chairman of Solomon Smith Barney) and Arthur Levitt (past Chairman of the
Securities and Exchange Commission (SEC)). 

Cohen Independent Research Group includes PhDs, MDs, CFAs (chartered financial
analyst), CPAs (certified public accountant) and 21 analysts covering most
industries. For more information readers can visit the company's website at
www.cohenresearch.com. 

About Pacific WebWorks, IntelliPay and TradeWorks Marketing

Pacific WebWorks provides a comprehensive suite of affordable, easy-to-use
software programs for small businesses that want to create, manage, and maintain
an effective Web strategy including full e-commerce capabilities. Pacific
WebWorks operates a number of wholly owned subsidiaries including IntelliPay,
TradeWorks Marketing and others. 

Forward-Looking Statements

All statements other than statements of historical fact included in this press
release are forward-looking statements. Words such as "anticipate," "believe,"
"estimate," "expect," "intend" and other similar expressions as they relate to
the Company or its management, identify forward-looking statements. Such
forward-looking statements are based on the beliefs of the Company's management
as well as assumptions made by and information currently available to the
Company's management. These statements are not a guarantee of future
performance. Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors, including the
Company's ability to maintain sufficient credit card processing capabilities to
service the demands of their hosting portfolio and other risk factors discussed
under the caption "Risk Factors" in our Annual Report on Form 10-K for the year
ended December 31, 2008 as filed with the Securities and Exchange Commission.
Such statements reflect the current view of the Company's management with
respect to future events and are subject to these and other risks, uncertainties
and assumptions related to the operations, result of operations, growth strategy
and liquidity of the Company. All subsequent written and oral forward-looking
statements attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by this paragraph. The Company has no
intention, and disclaims any obligation to update or revise any forward-looking
statements, whether as a result of new information, future results or
otherwise.

Pacific WebWorks, Inc.
Brett Bell, CFO, 801-578-9020, ext. 122
or
Chesapeake Group
Kevin Holmes, 410-825-3930 

Copyright Business Wire 2009

 

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