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Microcap & Penny Stocks : ETPI-Military Entertainment Enters Civilian Market
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To: TerriB who wrote (4729)9/30/1999 7:51:00 PM
From: Toby Zidle  Read Replies (1) of 4767
 
Normally I don't like this type of financing which puts a lot more shares in the float and is inevitably dilutive. In this situation, however, it does sound like a good (and needed) deal. It relieves the strangle-hold on cash flow of debt service. This in turn permits the business to focus on improving operations instead of bank account balances.

And Capital Growth Resources gets warrants for 1,000 shares of common stock at $1 per share. Bad? No, for CGR to benefit, ETPI stock has to be trading at or over $1/share ... an idea I heartily endorse.

The best benefit may be the one least heralded. ETPI gets Doug Miller on the Board of Directors. Finally there's someone on the Board who KNOWS about finance. I apologize if I'm slighting some ETPI CFO or anything like that. However, as I've said (or inferred) in the past, I don't think the CFO has been doing a quality job, as I judge from the examples of the quarterly financial reports. I hope that Miller will exert his influence to upgrade financial reporting. (After all, if we can't tell how well the company is really doing, does ETPI even know how well or poorly they are doing?) I'm looking for Miller to improve on this. Ultimately, CGR can not be a winner in this financing deal unless ETPI itself is a winner.

Go ETPI/CGR!
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