ETLT Eternal Technologies selling for less than cash value.
Eternal will net $4 million+ this year. Market cap only $15 million.
$21 million cash on balance sheet . No long term debt.
Selling for $.50 per share. Less than cash value ($.67per share).
Will net $.10-.12 per share this year. P/E 4 P/S .37
News of buy out of profitable Chinese Medical company.
biz.yahoo.com
Effective as the close of business on September 30, 2005, the Company acquired all of the issued and outstanding shares of E-"Sea Biomedical Engineering Co. International, Ltd. ("E-Sea") for 18,500,00 RMB (US$ 2,283,950) in cash and 18,500,00 RMB in restricted securities of Company (priced at US$ .40 per share, the closing price of the stock as of the date the transaction was negotiated) or 5,709,875 shares.
E-Sea holds three Chinese patents and manufactures mammary gland detection instruments at its facilities in Shenzhen, China. These devices takes approximately four minutes to conduct an examination of the breasts and has an accuracy rate of more than 96% in the early detection of breast cancer.
For the six months ended June 30, 2005, E-Sea reported net earnings after taxes of US$1,867,983 and had equity of US$4,277,622. E-Sea will continue to operate as a separate subsidiary of the Company. |
