Hello I am still learning about this stock but they just recently did a name and ticker change (http://biz.yahoo.com/snp/990513/film_mfg_n_1.html) to improve the companies image and also change there name to the new direction the company seeks to grow its business to increase shareholder value(http://www.usa-shopnet.com/). Down below is some DD I found from another SI poster in refernce to FILM now SPNT :
FILM... Hollywood Productions.
O/S: 5.37 Mil
Float: 3.20 Mil
Current EPS +.16
The name "Hollywood Productions" leads you to believe you are looking at a movie
company. You would be correct.
However, the movie biz that FILM has engaged in is not profitable and the Co. has the
sense to see this.
FILM's other biz is selling swimsuits which has been profitable. Also, FILM owns 25%
of the very profitable and rapidly expanding PlayCo Toys.
FILM started selling swimsuits through a web site:
breakingwaves.com
here is the news of 10 Mar:
biz.yahoo.com
PLCO has had no problem making money and has opened two web sites:
here are two news releases:
biz.yahoo.com
biz.yahoo.com
Here is FILM's latest 10KSB:
sec.yahoo.com
Notice how the swimsuit biz is steady income, while the movie biz a
"ball and chain"
So what is the big deal?
The movie biz "Hollywood Productions" is going to be spun off into a
Private company independent of FILM. This is good...
The swimsuit biz and and PlayCo Toys are going to be combined into one
biz with more add-ons later. In other words: FILM is acquiring PLCO... including
PLCO's web sites. This will take 90-120 days.
They will be combined under the name: SHOPNET.COM
New ticker: SPNT.
Web site: usa-shopnet.com
if anybody else has info to add please do
David |
