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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (4722)	7/22/1999 12:59:00 PM
From: 2MAR$	Read Replies (1) \| Respond to of 150070

<< VALH is a long term hold for me. >> now printing .17!! For thoses not in VALH, check-out these numbers: --June 15, 1999--Value Holdings Inc. (OTC BB:VALH) Tuesday announced that it has reported net income of $630,006 on revenues of $9,032,049 for its second fiscal quarter ended April 30, 1999. The financial information for the second quarter was disclosed in the company's 10-QSB filed with the Securities and Exchange Commission. For the same quarter of 1998, the company posted revenues of $153,709 and a net loss of $12,615. The dramatic turnaround is the result of the company's acquisition of the assets of John Ziner Lumber Limited on Feb. 25, 1999. Lumber operations accounted for $8,923,505 in revenues. However, lumber sales were only generated for two of the three months during the second quarter, as the company did not acquire the assets until the end of February. Income before depreciation, amortization and other charges was $929,494. Value Holdings does not expect to have any income tax exposure as the company has more than $12 million in carry-forward losses to offset any income tax liability. "We are very pleased with our results for the second quarter," said Robert Ziner, president and CEO of Value Holdings Inc. "Network Forest Products Limited, our lumber subsidiary, had very strong sales for the quarter, which we expect will continue throughout the summer building season. Additionally, our Cami's Seafood and Pasta restaurant group posted quarter to quarter and year to year gains in licensing revenue." Value Holdings has a license agreement with a restaurant management company which operates six Cami's Seafood and Pasta Restaurants in South Florida. Value Holdings receives a license fee equal to a percentage of gross restaurant revenue. In addition to the increase in revenues, Value Holdings' assets rose to $18,458,668 from $664,635 at the end of the previous fiscal year. Liabilities increased to approximately $12.6 million from $1.7 million due to the acquisition of the Ziner Lumber assets.