ETPI news posted on Friday (more releases expected this week). I've been told that one of the releases may involve financing, which would be extremely positive news. This company is stronger than ever, and still selling below book value (beaten down from $1.18 during protracted quiet period while company was sourcing/negotiating financing). ETPI is profitable and fully reporting.
Here's Friday's news:
Friday September 25, 4:57 pm Eastern Time
Company Press Release
ETPI Renews Six Military Contracts and Signs Osan
Air Base Korea to a New Service Agreement -- With
Additional Equipment and Services Worth Over $700,000
HOUSTON--(BUSINESS WIRE)--Sept. 25, 1998--Entertainment Technologies & Programs Inc. (OTC BB:ETPI), a fully integrated entertainment and amusement gaming company, today announced that two of its divisions, NiteLife Entertainment and Performance Sound & Light, signed and received renewals for military contracts in addition to a new client contract with a value of over $700,000.
Commenting on Osan Air Base, Michael ''Mick'' Grasberger, president of NiteLife Entertainment, said: ''We are proud to sign a service agreement with Osan Air Base Korea, one of the largest military club systems in the world. With the new contract valued at over $134,000, we will be installing state-of-the-art sound, light and video equipment including the latest DVD technology for music video.'' In addition, ''It's been a great period for us, with the renewal of six (6) other military contracts worth close to $450,000.''
Also, Performance Sound & Light announced government contracts for sound and lighting equipment to Osan Air Base and Kunsan Air Base, Korea; Yokota Air Base and Kadena Air Base, Japan; Hickam Air Force Base, Hawaii and Rhein-Main Air Base, Germany, valued at over $120,000.
ETPI architectural design division, Dynamic Image, received a contract from Kunsan Air Base, Korea, for the design of a new sports bar and installation of cosmic bowling into the base bowling center. This could possibly result in the expansion of the amusement contract with Kunsan after completion of the new sports facility.
Contact:
Entertainment Technologies & Programs Inc., Houston
Pete Cahill, 281/486-6061
or
Larry Tiller, 281/486-6061
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