Entertainment Technologies & Programs Inc.
Ticker: ETPI
Get Quote: quote.yahoo.com
Current Price: .18
ETPI is near its 52 week low of .11 and seems to be making a rebound.
The company is aggressively moving forward in the entertainment
industry.
ETPI is currently operated through 4 divisions. These are NiteLife
Military Entertainment, Inc. (club development and management
division), Performance Sound and Light, Inc. (equipment retail
division), Stargate Entertainment, Inc. (gaming and arcade division),
and Red Fish Management, Inc. (restaurant management division). The
Company is engaged, through its four divisions, in the following: the
operation of entertainment facilities located on U.S. military bases
throughout the world; the design and the retail sale of professional
sound and lighting equipment through mail order catalogs targeting
the military market through NAF purchase agreements and both the
military and civilian consumer markets; ownership installation and
operation of amusement equipment in company owned facilities; and the
operation of restaurants and entertainment facilities in the civilian
markets, through contracting and ownership.
Financial Summary -
Entertainment Technologies and Products provides audio and video
entertainment at U.S. military bases, designs and sells sound and
lighting equipment, installs and operates amusement equipment, and
operates restaurants. For the six months ended 3/30/00, revenues rose
2% to $2.4 million. Net loss from continuing operations rose 23% to
$559 thousand. Results reflect increased military services and sound
equipment sales, offset by increase depreciation and higher debt
levels.
On June 8th ETPI signed a Letter of Interest, then on June 16th the
company announced that a Letter of Intent had been signed for the
company to acquire Adventure Bay Water Theme Park from Houston Water
Park Associates, L.L.C. The letter is contingent upon the completion
of a Definitive Agreement, a $500,000.00 cash infusion and approval
of the ETPI Board of Directors.
CEO James D. Butcher stated, "Adventure Bay has a appraisal of 5.3
million with the ETPI shares holders paying a total of 4.5 million
between cash, debt and stock. This park will substantially add to the
value of ETPI for the shareholders and will be the catalyst to begin
a potential `Spin-off' of the park division of the Company.
``The acquisition does require ETPI to raise $500,000.00 for the
purchase and assume an SBA loan of just over $1,000,000.00. The
balance is to be paid in ETPI shares at a minimum valuation of $.50
per share,'' Butcher continued.
``We are excited about the synergies present between our two
companies, the economies of scale that now exist, and ultimately
capitalizing on the many opportunities available to us in the family
recreation industry,'' Ed Arrighi, Managing Member of Houston Water
Park Associates, L.L.C. commented.
On May 4, 2000 ETPI announced the renewal of services at Yokota Air
Base in Japan for the tenth year.
Read it here-
biz.yahoo.com
On May 1, 2000 ETPI announced that all construction, installation
and testing has been completed for the opening of a 3,500 square-foot
laser arena at Hero in Pasadena, Texas, featuring Q2000.
2000 projections for the Hero's Pasadena facility are
expected to exceed $400,000. New attractions over the next three
years are expected spur a 35% growth rate for the facility. Hero's
Water World in Midland, Texas is expected to generate approximately
$1 million for the 2000 season.
Hero's profit model is based on a layering of revenue streams within
the context of its facility. The primary revenue stream comes from
private party bookings (birthday parties, corporate picnics, church
groups, etc.) and catering services, which is a value added to the
private party offerings. The second revenue stream is generated from
the games and attractions themselves. The third revenue stream is
generated through the food concessions, from restaurant items to
impulse snack kiosks and vending machines strategically located
throughout the facility.
Read it here-
biz.yahoo.com
Read all the news-
biz.yahoo.com
Corporate Profile-
biz.yahoo.com
Entertainment Technologies & Programs Web Sites -
performance-s-l.com
et-studios.com
Contact:
Entertainment Technologies & Programs, Inc. Houston
Fritz Boudreaux, 281/486-6061 |
