HI! to John Rideout & all, ref: SLEU & SJIG
This is my first posting on this board. I enjoyed reading CAVEAT EMPTOR and did some DD on the matter. I have followed FSS and SJIG for quite a while and came to the conclusion to stay far away. However, out of curiosity I decided to call J.D Jenkins this morning to find out about his Company's relationship with FSS and SLEU, and get an idea of its assets and liabilities excluding its holding in SLEU.
The man was quite helpful and I learned the following for your comments:
1) He says he never spoke to or paid FSS to do the report, but it was done by one of his large shareholder and cost his Company dearly in terms of share value and reputation.
2) Since he sold the business to SLEU, he has not had any close relationship with them, although his products are featured on the site.
3) SJIG has 5.7 Millions shares outstanding and a float of about
4 Millions shares. Jenkins own 1.2 Millions shares restricted until March 99.
4) The Company will soon be fully reporting. He assured me that, excluding the SLEU holding, the tobacco etc...business was doing fairly well and that assets exceeded liabilities.
5) He was wondering how long it would take for investors to cotton on to the 1.5 Millions SLEU shares he is holding. At $10.00 per share, for SLEU, his Company would be worth about $2.63/share, excluding any other business. Today's close: .72.
6) The man sounded genuine and also indicated that some interesting news are soon to be released, including the addition of new products.
As a result, I bought a substantial holding in SJIG, figuring it was a leveraged way to own SLEU. In addition, so that you know where I come from, I have substantial holdings in SLEU, INNI, FRTI and SNMM. I am also considering Gator's suggestion to buy MDIH, except that I can't quite figure what their business is all about.
I hope this report is useful to the community. Happy investing!
Unikay. |
