ETPI-Military Entertainment Enters Civilian Market Message Board

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Microcap & Penny Stocks : ETPI-Military Entertainment Enters Civilian Market

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To: SCOOBEY-DO who wrote (3499)	2/11/1999 6:34:00 PM
From: Mike MacNaughton	Read Replies (1) of 4767

The annual report shows Stargate operating the Hero's centers and Hero's acquiring the Midland Waterpark (erroneously listed as a Harris county property in one section of the annual report). The Focus and Finish plan for this division “Depends on large amounts of capital to complete and finish current projects that are currently due” and “ Depends on the completion of funding from Capital Growth Planning.” Management hasn't released estimates of cost of the planned renovations of the Waterpark. The revenues from the amusement games segment for the 9 mos. Ending 9/30/98 was $603K with an operating loss of ( $284K). Revenues have dropped. The Bell Atlantic and Moss Distributing long-term debt for video games is $752K (at $29K per month lease payment). As the report stated, it takes a lot of capital to properly operate an FEC. How much will it take to bring Stargate up to speed? Will another $2 or $3M in additional long-term debt do the trick? The good news is that ETP, with $6.05M in identifiable assets is much further along the path to a big board listing which is an excellent exit strategy. Go ETPI!

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