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: ithasnospaces who wrote (4264)	5/17/1999 4:44:00 PM
From: pennycash	Read Replies (1) of 4767

Now for some more red flags from the 10-QSB... The Company believes that internally generated cash is sufficient to fund the current level of operations. However, additional capital requirements needed for planned growth and to reduce short term debt will require the Company to seek additional outside financing. The Company has signed a financial agreement with Capital Growth Planning of El Cajon, Ca. for $5.1 million in convertible debt. The Company expects this funding to be completed during the next quarter but there can be no assurances that this funding will close. I thought they had all the funding they needed. Now they say they need more cash for "planned growth". What planned growth? Why more cash? Prior "planned growth" ended up as "shutting down certain Hero's locations [which] will be completed by September 30, 1999". They also want to pay off short term debt with long term debt. Just like paying off one credit card with another. This usually means diluting the shares for more funding. Bad money management, bad management, bad investment... I hope I'm not bashing too much. I used to like this company alot. Now it sounds like every other OTC-BB company - "we need more funding..." -pennycash ps. ETPI doesn't need more funding. They need to reduce expenses and generate revenue (read EPS). Creating more debt is not the answer. Three simple steps to returning to positive earnings: (1) NO NEW DEBT (2) REDUCE EXPENSES and (3) INCREASE INCOME. pps. These same steps will get you out of credit card debt. Trust me, I know :)

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