Vancouver, British Columbia--(Newsfile Corp. - August 13, 2014) - New York based SeeThruEquity has initiated coverage on 5BARz International (OTCQB: BARZ). SeeThruEquity, an independent equity research and corporate access firm, focusing on smallcap and microcap public companies, gives 5BARz a speculative rating, and a target price of $0.40, a premium of 90% to the $0.21 price on July 28th, the day the report was issued.
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The company's flagship product, the 5BARz Network Extender, is a highly engineered, single-piece, plug 'n play unit, weighing only 300 grams, that strengthens weak cellular signals to deliver high quality signals for voice, data and video reception on cell phones and other cellular equipped devices.
The Network Extender addresses a large problem that has historically been too expensive or difficult for mobile telecom carriers to address, the quality of service indoors and in areas with limited coverage.
The company introduced a carrier grade Network Extender at the Mobile World Congress in Barcelona in February 2014, and recently delivered the 5Barz dual band Network Extender to a major tier 1 carrier, which will be testing the product by deploying it in challenging wireless environments such as commercial buildings, residences and parking structures.
Daniel Bland, Founder & CEO stated: "The delivery of our dual band Network Extender to our collaboration partner will enable commercial deployment of our products in major regions and markets. We expect to receive the results within the next 6 weeks. We are working with several major network carriers to enter into collaboration and trial testing agreements."
With mobile saturation approaching, a key driver of mobile carriers' business will be customer satisfaction and reducing churned customers. According to a 2013 study by Ericcson, the global average for mobile subscriber churn is approximately 3%, with network performance (chart) being the most significant factor affecting customer loyalty. By improving signal quality, 5BARz believes its products address a $27 billion market, with the aim of expanding this opportunity as it expands its relationships with telecom operators. BARZ plans to capitalize on this technology through international expansion and the launch of a consumer device in 2015.
The SeeThruEquity report stated: "We are encouraged by the recent additions to the BARZ management team and Board of Directors. In the last year the company has added a new CTO, Naresh Soni, who served as CTO of InderDigital (NASDAQ: IDCC), a 1.8 billion dollar market cap company built on developing and monetizing mobile technology and patents. More recently, BARZ upgraded its Board of Directors by adding Dr. Gil Amelio as Chairman, a well-known technology veteran having served as Chairman and CEO of both Apple and National Semiconductor, in addition to serving on the Board of Directors of AT&T."
The company currently trades at $0.20, well below the $0.40 target price, and with 178.1 million shares outstanding, the company is capitalized at $35.6 million.
For more information about 5BARz, please visit the company's website www.5barz.com, call 1-877-723-7255 or email ir@5barz.com.
The company's public relations is handled by Robert Haag at IRTH Communications, who can be reached at 866-976-4784 or email barz@IRTHcommunications.com.
For more information about SeeThruEquity or to obtain a copy of their research report, please visit the company's website www.seethruequity.com or contact Ajay Tandon, Director of Research, at 646-495-0939 or email ajay@seethruequity.com.
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