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We're on this one like.... well you know. Here's the DD Better hurry. Moving up today BIG and should all next week.
Certified financial statements just released by BDO Seidman for EDII.
Positive book value, strong new management, three new acquisition spending, major Southwestern Bank financing ($18 million) and positive earnings projected throughout 1998 coupled with a $1,000,000 operating loss carry forward to offset taxable income make this stock a strong buy. Headquartered in Houston, Texas, EDII is a holding company with diverse interests in five industry segments: industrial, financial, oil and gas, real estate and entertainment. This very undervalued stock should soar in the coming weeks.
EDII is about to complete a major real estate sale of 290 acres of land it owns on Galveston Bay, TX that could generate substantial earnings for the shareholders this quarter and enough working capital for the company to pay off all its debt and fully execute its business plan. Pitts & Spitts,part of the original company, makes about the best BBQ's pits in the world. Its custom metal working division produces positive earnings from the oil and gas industry. Accqueren (being acquired this month for 25,000,000 restricted shares) resells coated wire and is profitible.
Cinema Research Corporation (another money maker currently being acquired for 8,000,000 shares of restricted shares and cash) specializes in titles, credits, optical and digital effects for the motion picture industry.It uses both optical and state-of-the-art computer processes. Cinema Research Corporation of Los Angeles is the second largest optical effects company in the world. Cinema Research Corporation has been established in the Hollywood production community for over 50 years. It has an excellent reputation,it is
doing business with major studios, independent producers, and television production companies. The client list includes all the best known producers.
Intile Designs, Inc. (letter of intent signed to acquire 81%) anticipates reporting approximately $13,500,000 in revenues for the year ended March 31, 1998 and is an importer and distributor of ceramic tile in the United States.
Headquartered in Houston, Texas, the company sells its products through a network of company-operated sales centers and independent distributors. Intile's stock is traded Over the Counter under the symbol IDES.
In addition a royalty interest in a gas well produces $80,000 in positive earnings. There were only 46,117,060 shares issued and outstanding at 12/31/97, most ofwhich are restricted for one or more years. From its high of $.24 in February, EDII has drifted down slightly, while new and motivated management has restructured the company to take it to the next level. This restructuring
will be complete by the end of June and I see EDII shares increasingly
materially in the near term. Daniel Dror and his family own a 25% stake in EDII and have had a strong track record of enhancing shareholder value in their previous ventures.
The company intends to become fully reporting.
Kevin |
