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Microcap & Penny Stocks : ETPI-Military Entertainment Enters Civilian Market
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To: Gator who wrote (3619)2/25/1999 8:02:00 AM
From: Gator  Read Replies (2) of 4767
 
1st qtr '99 10Q now on Edgar.

The Good: Revenues are up $200,000.

The Bad: Pretty much everything else:
- Despite revenues increasing, gross profit was down $50,000.
- G&A Expenses rose over $320K (over 50%) to $940K.
- Net loss $340K from a profit of $42K last year.
- Shares outstanding increased from 24.9 mil to 30.4 mil (doesn't look like the company leveraged thosed additional shares very well).

Also stated that funds generated from current operations aren't enough to run the business and that additional funding is needed (which they apparently have a $4 million agreement to receive funding, but there's no guarantee that they will receive it).

Overall, I think this would classify ETPI as a submerging growth stock. Hopefully, we've hit bottom and are now ready to restructure and turn this puppy around. Personally, I wish they'd spin off practically everything and become an internet company consolidator like CMOZ did so our stock would run to $3. They've already gotten a good start with their web sites. If they focused on entertainment related sites and tied them all together they could build a nice little niche. Just a thought, since their current business doesn't seem to be working.

Gator
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