Union Atlantic Capital Issues "Buy" Rating on Zapworld.com

Analyst cites order backlog,revenue growth,expansion of EV industry as reasons for rating.

Published: 14-Nov-2000

FORT LAUDERDALE, Fla.--Nov. 14, 2000--Union Atlantic Capital, L.C., a wholly owned subsidiary of vFinance.com (OTCBB:VFIN), announced today it has initiated research coverage on ZAPWORLD.COM (Nasdaq:ZAPP) with a "BUY" rating.

California-based ZAPWORLD.COM is a leader in the design, production and marketing of electric bicycles, scooters, motorcycles and other electric transportation products.

Union Atlantic Capital's analyst, Nicole S. Mager, cited ZAPWORLD.COM's potential for an increased product order backlog, revenue growth, rapid expansion of the electric vehicle (EV) industry and patented technology as the main reasons for the rating. Union Atlantic Capital, L.C. will offer the research report for free at http://www.ualc.com starting on November 13, 2000.

The United States EV market will grow at an impressive rate of 27 percent annually through 2005, when it will become a $7 billion industry, according to a research study by Business Communications Co., Inc.

"ZAPWORLD.COM is still an undiscovered public "pure play" company in the fast growing, government-mandated industry of electric vehicles," Mager said. "The Company has a record of revenue growth and a strong cash position. Combine this with its twelve patents in the EV field as well as the projected growth of the market, and you have a company that is uniquely positioned to significantly increase its product order backlog and is poised for upward movement."

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