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Microcap & Penny Stocks : EDII
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To: TKORAY who wrote (1326)6/17/1998 8:54:00 AM
From: jmt  Read Replies (1) of 2849
 
We are looking at just one piece of EDII..

Before we get to hung up on the royalties and mineral rights issues, EDII does have other business. They seem to be reasonable businesses that should have the ability to be at least marginally profitable. The entire business model is not a scam.

The issues of concern seem to be:

1) Announcement in an earlier press release after acquisitions they have revenue of $50M and are profitable. We need to see this confirmed.

2) Are the current land acquisitions accretive or dillutive to current earnings? Some detail on the rational should be disclosed. We were looking for this recent announcement to be a catalyst for a price run-up, and it fell short in form and substance.

3) An auditor has been stated to be BDO Seidman. Is this the firm begun by the former Federal reserve governor Bill Seidman, and how does this add credibility? Why are interim financials not being released? This is giving the impression something is being hidden.

4) Why is the firm diversifying in so many area's. Most firms consolidate to find synergies. Is management "jack of all trades, master of none"?

There has been some excellent research done by many recently. I also give credit to Ken M., who has has contributed many times. The issue is that it stops short of analysis. This is fine, as long as there is no criticism of others for taking it to the next level.

If the company can even earn 4 cents a share of sustainable income, it it currently trading at a reasonable price. And it is important that management knows we are watching..

Thanks for the many valuable contributions.

jmt
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