American Eco (ECGOF, ECX on Toronto exchange) Message Board

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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)

ECX 1.665

+4.1%

11:55 AM EST

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To: Robert K. Schott who wrote (2617)	7/7/1998 12:29:00 PM
From: JimieA	Read Replies (1) of 2841

"The company would still have positive eps were it not for the non-recurring charge; and would seem to have decent earnings without the drag of Chem. " Just for the record. No positive eps here! Net Loss is ($1,630K) Tax credit 877K Pre Tax Loss ($2,507K) Debt costs $2,400K Operating Loss ($107K) Also, per David James, Chempower made a profit this quarter. So decent earnings is not just because Chempower is underperforming. I also would be concerned with future write offs of goodwill as well as recently acquired Property. Eco does have over $31M in goodwill, most from recent acquisitions, that may not be operating as well as expected. Also, Eco's $5M Dominion Bridge investment at $2.60 a share has to be considered ripe for a write down since the stock is now under $.75 I expect a house cleaning before end of the fiscal year. Eco book value could easily be reduced by over $1/share. Of course, I hope that the current price reflects these things.

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