FAVORED(R) Inc. Receives $57.5 Million Independent Fair Market Valuation
WEST LAFYETTE, IN -- (MARKET WIRE) -- December 18, 2006 -- FAVORED® Inc. (PINKSHEETS: FVRD) is pleased to announce that the Company has been evaluated by an independent valuation firm, AgriCapital, LLC, an accredited NASD Dealer, and has received a Fair Market Value of $57.5 Million as of March 10, 2006.
The purpose of this valuation was to provide an opinion of Fair Market Value for audit requirements for our registration filing with Securities & Exchange Commission. Initially, due to contractual constraints, copies of the valuation report will only be available to the independent certified auditors.
The valuation was based on several key factors to include (i) public market comparable analysis, which involved analyzing market multiples of publicly traded companies that possess similar business risks and returns; and (ii) a discounted cash flow analysis, which involved developing future cash flow projections and determining their present value.
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"The valuation process took some time and we're pleased that the number reflects the true value of FAVORED® Inc.," stated Dr. Claude Page, CEO of FAVORED® Inc.
About AgriCapital, LLC
AgriCapital Corporation was founded in 1983 as a specialized firm to meet the acute and increasingly specialized investment banking demands of a rapidly changing agribusiness industry. Since their founding, we have undertaken over 400 assignments on behalf of some 300 large and small companies across the spectrum of agribusiness in the United States and around the world. To learn more about AgriCapital visit their website at www.agricapital.com
About FAVORED® Inc.
The all natural FAVORED® System delivers food products that carry the assurance of being completely traceable from origin to consumer (from "seed to plate"). Its patent pending system focuses on those traits that today's consumers desire; products free from growth hormones and antibiotics and produced with non-genetically modified feed rations.
FAVORED® Inc. therefore participates in a market segment that represents approximately 33% of the U.S. population. In fact, sales to consumers who demand natural/organic foods now exceed US $30 billion each year.
For more information about FAVORED® Inc., please visit us at: www.favoredgrain.com and www.favored.tv.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by the lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions.
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Contact information:
Peter George
fvrdIR@favoredgrain.com
SOURCE: FAVORED, Inc.
