Here is one of the reasons EVIS is ut'ing.
Many big players are in this stock now and don't plan on selling for a quicky <ggg>
FOR NEW EVIS INVESTORS:
EVIS information.
I have compiled here a good picture as to who this
company is, what they are doing, and why volume and price has taken off recently:(With
help from the DD post listed on raging bull a few times a day, thanks!)
EVIS- E vision USA.com, emerging new online broker
First of all, you should know that EVIS is fully reporting, and has deloite and touche as
their auditors. There are 19.2 million shares outstanding and a float of 3.6 million. With a
recent price of 1.25, their market cap is 24 million.
Who is E vision?
E vision USA with its subsidiaries, is a registered securities
broker/dealer, is engaged in industry specific software development and
provides consulting services, and participates in insurance brokerage
activities in certain states. For the nine months ended 6/99, revenues rose
42% to $28.2 million. Net loss from continuing operations before
extraordinary item fell 71% to $1 million. Results reflect higher
brokerage commissions and decreased S/G/A expenses as a percentage of
revenues.
What are the subsidiaries of E vision USA.com?
1. American Fronteer Financial Corporation, a regional securities
broker/dealer.
Having personally spoken to the company, I can tell you that they are hard at work
developing an online trading site. This was originally going to be called ebrokerusa.com,
but has now been switched to olbroker.com. This brokerage site will first target the far
east market. The majority owner of EVIS, Heng Feng is from Hong Kong and has
major
ties there. I am sure you have noted what has happened to stocks involved in the far
east
recently. This was pulled from the company's most recent SEC filing:
American Fronteer is developing an on-line broker/dealer division that
American Fronteer believes will provide American Fronteer with the ability to
expand its broker/dealer business into Asian markets and will provide American
Fronteer's existing clients with the benefits of on-line trading. American
Fronteer plans to provide on-line broker/dealer services under the name of OL
Broker.Com, Inc. An agreement has been signed by American Fronteer pursuant to
which an unaffiliated company has agreed to provide American Fronteer with the
technology, infrastructure and support necessary to provide on-line
broker/dealer services. Further, a letter of intent has been entered into by a
wholly owned subsidiary of eVision on behalf of American Fronteer pursuant to
which an unaffiliated party plans to develop a platform to facilitate American
Fronteer's on-line trading of United States securities in Hong Kong. A separate
broker/dealer license for the on-line business of American Fronteer may be applied for
and the on-line broker/dealer division of American Fronteer may become a separate
consolidated subsidiary of eVision.
After taping the far east market, they do have plans to offer online brokerage in the
united
states. I am sure that you know how richly rewarded far east companies, as well as
online
brokers are. The kicker: There has not been one news release YET describing this plan,
but when I asked the company about the progress of olbroker, the response I got was
that "the president wants this up and running yesterday". So imagine what happens when
there is a news release and olbroker is up and running? To further your interest, one
company that EVIS is being compared to is HRCT because of a somewhat similar
business plan. Look at the HRCT chart. Of course, HRCT has had numerous news
releases.The amazing thing is that HRCT,a company with zero revenue 2 employees and
a float of 6.5 million has a market cap of 374 million,(at a stock price of 19) while Evis,
a
company with 28.8 mil in revenues, 222 employees and a float of 3.6 mil has a market
cap of 24 million. So for evis to get to even 1/2 the market cap of hrct, it would have to
trade at around 10 dollars/share.
All the above by itself to me justifies why the stock has recently taken off and yet still
remains massively undervalued. BUT that is not all that evision consists of. They have
several other subsidiaries:
2. eBanker USA.com, Inc. which offers, among other things, Internet-based
high-yield lending opportunities. Their new website ebankerusa.com just went live two
days ago and is very flashy.
So now, in addition to the above, evision is an internet banker/lender.
3. Secutron Corp., a computer hardware seller and software developer.
4. Q6Technologies, Inc., a business venture surrounding technology-based virtual
processing arenas with John Cusick, former founder, chairman and CEO of Primestar
as its chief executive officer. Evision has used this subsidiary to make investments in
companies that they think have great potential. Two such investments are listed below
and
are taken from the most recent sec filing:
Q6 Technologies has entered into a letter of agreement to purchase a 50%
interest in Do Not Disturb, Inc., a company that engages in web based consumer
privacy technologies and has entered into a letter of intent with International
Broadcasting Technology to secure a 50% interest in International Broadcasting's
proprietary platform for high bandwidth Internet multicasting.
so they have investments in broadband internet as well. This subsidiary appears to be
functioning much like the CMGI model.
5. Quaker Funds:
DENVER--(BUSINESS WIRE)--Aug. 10, 1999--eVision USA.Com, Inc. (eVision
or the Company) EVIS signed a letter of intent to acquire control of Quaker Funds,
Inc.Quaker Funds, Inc. is the developer and sponsor of the Quaker Family of Funds, a
group of six mutual funds having approximately $70 million assets under management
with an independent institutional investment advisor managing each fund. The Quaker
Aggressive Growth Fund was rated fourth among the top fifteen performing mutual
funds evaluated by the Wall Street Journal on August 2, 1999. The Quaker
Aggressive
Growth Fund, according to the Wall Street Journal, reflected a 60.25% return for the
52-week period ending July 29, 1999.
"This acquisition will add a new dimension to the Company's broker/dealer related
business which has traditionally focused on retail sales and corporate finance," said
Mr.
Fai H. Chan, President and Chief Executive Officer of eVision. "This should enhance
our asset-gathering abilities."
The Quaker Family of Funds was developed to bring the unique skills of prominent
investment management firms to the mutual fund community. Quaker Funds include the
Core Equity Fund managed by Geewax, Terker & Company, the Aggressive Growth
Fund managed by DG Capital Management, the Small Cap Value Fund managed by
Aronson + Partners, the Fixed Income Fund managed by Fiduciary Asset
Management
and the Quaker Mid-Cap and Large-Cap Value Funds managed by Compu-Val
Investments.
Quaker Funds, Inc. is based in Valley Forge, Pennsylvania, and is owned by Jeffry
King, Principal of Quaker Securities, Inc., Peter Waitneight, Quaker Funds, Inc.
President, and David Dameron, Vice President, Marketing. Quaker Funds, Inc. was
founded in 1996 and the Quaker Funds commenced operations in November of that
year. The Quaker Funds have received favorable comment in the financial press for
investment style and performance. The Quaker Small-Cap Value Fund, managed by
Ted Aronson of Aronson + Partners, Philadelphia, was the first winner with a feature
article in the July 1998 edition of Mutual Funds Magazine. More recently, the Quaker
Core Equity Fund, managed by John Geewax of Geewax, Terker & Company,
Pennsylvania, and the Quaker Aggressive Growth Fund, managed by Manu Daftary of
DG Capital Management, Boston, have attracted press attention.
The terms of the acquisition include payment of 4,666,667 shares of common stock of
eVision. After the acquisition, eVision would own approximately 60% of Quaker
Funds, Inc. The Quaker Funds, Inc. shareholders will be able to sell their eVision
stock
back to eVision if the eVision stock does not trade at an average price of $3.00 per
share for a period of time between one and two years after the closing. There are also
provisions whereby the Quaker Funds, Inc. shareholders may sell the remaining 40%
ownership to eVision or buy back the 60% sold to eVision.
The Quarter Funds are now distributed through Schwab OneSource, Waterhouse
Advisor NoFee Network, Vanguard Brokerage Services, Fidelity FundsNetwork,
E*Trade and other mutual fund "supermarkets." The Quaker Funds will now be made
available through American Fronteer Financial Corporation, a subsidiary of eVision.
"I am very excited about this deal," said Jeff King. "I really like the folks at eVision.
They have a very good client base and they will be able to use the Quaker Funds to
great advantage for individual portfolios. Working together, I believe that we can
significantly increase assets."
it should be noted that that the Quaker Funds offer values EVIS at $3 a
share for the shares being used to purchase controlling interest. EVIS currently trades
at a substantial discount to this price.
Here is a link to the Yahoo recent news and profile for EVIS which shows details on
EVIS:
PROFILE: biz.yahoo.com
RECENT NEWS: biz.yahoo.com
Subsidaries:
secutron.com
midrangesolutions.com
ebankerusa.com
ebrokerusa.com
quakerfunds.com (letter of intent to acquire)
Q6 Technologies (x-ceo of Primestar at the head)
American Fronteer Financial Corporation
Accounting firm for EVIS: (fully reporting to SEC)
dttus.com
SO for all of the above reasons, I am certain that EVIS is much undervalued. It would
not surprise me at all to see EVIS at 15 dollars after relevant news releases. The key is
no one knows when these will be. So you can trade in and out now trying to time the
market, or just sit back, shut up and watch your investment grow.
hope this helps
Susie |
