Ludlow Capital Issues $1.50 - $2.00 Price Target on Converted Organics (COIN)

(NEW YORK) – Organic fertilizer producer, Converted Organics, Inc. (NASD:COIN), announces a 65% growth in Q1 2010 sales, and lifting of going concern status for their company.
In the past month, the Company has wiped away their going concern, resolved outstanding legal issues, added new additional working capital to fulfill new orders, and announced new sales so far for 2010. Things seem to be moving forward on the right bases, in our opinion. Based on recent news, we are still projecting COIN, and their under lying warrants COINW, to move back up above the $1.50 to $2.00 mark in the near-term on growing sales and operating capital outlook.