Ken and all,
Still lurking around, haven't really been watching ETPI much lately because I'm not expecting to see good results until the 3rd and 4th qtrs (ending June and September). Don't forget that the 2nd qtr ending March includes expenses for the Waterpark without the benefit of a dime of revenue, and the winter quarters are slow for lakeside restaurants such as RedFish Island Grill. With the waterpark opening this month (I'm assuming they are still on target for Memorial Day) and warm weather here, I think we will finally get a guage on the profitability potential of the company.
Regarding director compensation, they have to be paid something, and they obviously can't be paid cash because there's not enough free cash around. Question is, what do these directors bring to the table. That I truly do not know.
If I were running this company, I'd consider looking around for some private Houston-based internet companies with strong potential that are looking to go public and reverse merge with them. That would give the internet company a listing, most likely boost the stock price considerably, and give the combined internet/ETPI company the underlying assets to qualify for larger market listing. Companies such as WorldLink (http://www.wl.net), a streaming media internet company based in Houston would be a great candidate (and it is entertainment related, which would fit in nicely). Problem is, I believe another Houston-based OTC-BB company, Pangea Petroleum (PAPO) is about to beat them to the punch, or so I'm hearing. Pangea has almost nothing to speak of as far as revenues and such, but has run up to $2 and will probably run much higher if the rumored deal goes thru.
But, then again, I'm not running the company. Give them another quarter. If we don't see significant improvement for the 3rd qtr, then I think we can all be justified in moving on to hopefully greener pastures.
Gator
Disclosure: I have received 10,000 shares of restricted ETPI stock for providing various consulting services to the company. |
