Putting Investors FIRST 


eResearch, Toronto

Independent Equity Research Corp., operating as eResearch, is a leading source of continuous, independent research on publicly traded companies. We provide investors with in-depth information to assist in the investment decision process. Our research is distributed via our web site and by mail to both individual and institutional subscribers.


The Need for Independent Equity Research

Over the past few years a number of factors have combined to create the need for independent equity research:

  • There are more publicly traded companies than ever before;

  • Quality research is extremely expensive;

  • Commission rates on trading have declined;

  • Corporate Finance covers much of the cost of research;

  • Investment banks do not have the resources to cover all public companies;

  • Research departments focus on informing buy-side Institutions;

  • Yet, retail investors are increasingly accounting for the trading volume of non-TSE 300 companies.

eResearch provides the solution by giving investors continuous, independent, and institutional quality research on stocks that are sponsored.

eResearch is the Source of Independent Equity Research™.


Our Services

eResearch provides continuous, institutional quality, independent research and commentary on publicly traded companies and other information to help our subscribers make more educated investment decisions. Our institutional quality research is written by our senior and experienced team of analysts.

Our continuous coverage includes:
Two to four research reports per year; a major initial report and three follow up reports, which include, among other things:

  • Buy, sell or hold recommendations

  • Earnings estimates

  • Target price

  • Strengths and risks

Virtual Morning Meeting™ updates on material events that occur between the research reports

eResearch is registered with the Ontario Securities Commission as a Securities Adviser and with the Securities Exchange Commission as an Investment Adviser. We are currently in the process of registering as a Securities Adviser across the rest of Canada.

Each covered company has its own web page, on which our independent research is the focus that provides additional information to individual and institutional investors including:

  • A summary of the company

  • Condensed financial information

  • News releases

  • A company presentation

  • Interviews with senior management

  • Links to the company's site and relevant industry sites

  • A rebuttal by the company if it disagrees with our analyst on an issue of fact or an interpretation of fact

  • Individual and institutional investors who subscribe to our services receive unlimited access to every company that we provide research on. They also receive, at their request, email updates on specific companies.


Our Independence

eResearch's sole purpose is to provide continuous, independent research coverage on companies. eResearch is not an investment bank nor are we affiliated with an investment bank. We do not provide any underwriting or financial advisory services, nor do we trade or hold stock of any publicly traded company. eResearch is not an investor relations firm.

In order to help cover the cost of research and minimize the cost of subscriptions, eResearch receives fees from research sponsors, much like the bond rating services and the standards ratings organizations. These sponsors may include the companies we cover, financial institutions such as mutual funds or pension funds and individuals who participate in sponsoring a company.

The success of our business lies with our individual and institutional subscribers. We must be independent and credible. In order to guarantee our independence and to ensure totally unbiased research we follow explicit business practices and compliance procedures, including:

  • The fee for initial research is due and payable before our analysts commence any work on the company;

  • eResearch retains editorial control over our research as a contractual right;

  • No analyst is compensated on the basis of his/her recommendation. Analysts are paid on a per company basis;

  • Analysts are not permitted to solicit companies for coverage by eResearch, nor are they allowed to accept any form of compensation from these companies either directly or indirectly. Analysts are not allowed to provide any other service to the companies they cover, including consulting arrangements;

  • eResearch's analysts are bound by the AIMR Code of Ethics;

  • eResearch accepts payment of the fee only in cash. We will not accept payment in shares, convertible securities, warrants, options, any other payments in kind;

  • eResearch, its officers and directors cannot trade in shares or equity-related securities of the companies eResearch covers; and

  • Our analysts cannot trade in the shares or equity-related securities of the companies they cover.

These key procedures guarantee a level of independence that is higher than that of virtually any investment bank's research department and ensure that eResearch is The Source of Independent Equity Research™


Our Founders

eResearch was founded in March 2000 by Koloshuk Farrugia Corp. ("KFC") to provide a Web-based platform for the distribution of continuous, independent research on publicly traded companies. KFC is a Toronto merchant bank, that also founded Integrated Asset Management (IAM:CDNX), O'Donnell mutual funds and Linmor Technologies (LIR:CDNX), among others.

Robert Reid (former Director of Research at CT Securities Inc.) is our President and Head of Research, Victor Koloshuk is our Chairman and Glenn Cooper became our Chief Executive Officer in December, 2002.


You can reach eResearch at:

Mailing Address
130 Adelaide Street West
Suite 2215
Toronto, ON M5H 3P5

Phone: (416) 643-7650
Toll Free: (866) 854-0765
Fax: (416) 867-8010