Gator, you say Doug just told you the "water park should do close to half a million for the season." I just found ETPI's August 17, 1998 letter to share holders. A year ago, ETPI reported, "The Wonderland Water Park, in Midland, Texas has projected revenues of $2 million dollars a year."
For some other areas, we were told last year about the Bronco Bowl and the entertainment center in Arlington that "each of these centers should produce revenues in excess of a million dollars a year." We do know about the Arlington center. How's the Bronco Bowl doing? No one ever says a thing about it.
Back on August 17, 1998 the price of ETPI stock was 55 cents; on Friday's close it was 18 cents. If revenue projections were missed as badly as those above, it's no wonder we've lost two-thirds of our share value. No wonder the insiders regularly are sellers.
Tell me, Gator, is Doug attuned to the realities of a competitive world (including the possibilities of delays in financing and construction), or does he just look at the most optimistic scenarios and run with that? It looks like that's no different from what we'd been doing all along.
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Here's a P.S. for all: How do you wipe out around $2 1/2 million dollars in projected revenues (not a small percentage!) and have three penny stock newsletters come out with 'Buy' recommendations on a positive earnings forecast? The smell of P&D gets even stronger. Unless some division of ETPI is beating the pants out of all prior forecasts. And if that's happening, would ETPI be so blase about it that they don't even put out a press release? I've seen no earnings projections <'legitimate', company-issued projections> in an awfully long time. Will Doug address this, Gator, or are we left to our own sad conclusions? |
