This stock hit $0.05 today. Its CEO has been buying up big (taking advantage of the downturn and year end ?). A downturn that started after a temporary plant shutdown.
Anybody following this ?
bmecos.com
David Bromley, president and CEO, has advised that he has acquired today, 2,400,000 shares through the TSE.
On Nov. 9, 1997, the date of issuance of the receipt for BME's most recent final prospectus, Mr. Bromley held 3,125,000 (9.97 per cent) common shares. Between that date and yesterday, Mr. Bromley acquired a total of 549,000 (1.75 per cent) additional common shares through numerous market purchases. His collective total share holdings, including the purchase today, are 6,074,000 shares, being 19.38 per cent of the issued shares.
Bromley-Marr ECOS has completed a $4-million subordinated debt financing with BCMC Capital Limited Partnership (Mercantile Bancorp). In conjunction with the debt financing, warrants to acquire a total of 1,125,000 shares of Bromley-Marr at any time prior to Oct. 29, 2001 for an exercise price of 20 cents per share were issued to Mercantile Bancorp and The Mutual Life Assurance Company of Canada (an existing lender to Bromley-Marr). Proceeds from the financing will be used to complete the capital requirements of the company's Bonnyville facility in northeastern Alberta and to provide the company with working capital.
The Bonnyville facility services the heavy oil industry in northern Alberta by proving a low cost method to clean sand generated during the production of oil.
Bromley-Marr had record net revenues in 1997, rising to $5.6-million from $1.2-million in 1996. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased to $912,000 from $159,000 in the prior year.
Expenditures on acquisitions and waste management facilities amounted to $18.5-million in 1997 compared to $917,000 in the prior year.
Shareholders' equity rose to $21-million in 1997 from $1.2-million in 1996. Total debt to equity improved to 0.34 to 1.0 in 1997 from 0.86 to 1.0 in 1996.
Bromley·Marr ECOS Inc
Suite 320, 1010-8th Avenue
Calgary, Alberta, Canada T2P 1J2
Toll Free: (800) 286-1357
Telephone: (403) 571-1760
Fax: (403) 571-1769
CleanCare, Apollo Used Oil Recycling, |
