Here's some DD you'll love...
These people really know what they are doing and they are very focused
on the initial plan that brings them to over $100 million in Revenues in a matter of months.
Pitts & Spitts and Har-Whit,Inc. are both located in the same owned
premises in Houston. At Pitts and Spitts, orders are backlogged a full four months and they are planning a major expansion to try to catch up. First they have ordered $585,000 in new equipment that will materially speed up the production and reduce the labor cost content of "The Ultimate Bar-B-Que Pit."
They are 38 people on the payroll and are going to increase that number materially. They are in the process of expanding the 70,000 square foot building they own which is located on their own owned property. They are currently geared up to do $3,000,000 in annual sales and produce net income of $300,000.
After the expansion, they will increase their dealer network from 4 to as many as they can supply and both revenues and net income should go up materially.
Big demand for their gas and propane Fajita & Steak Grills, Smokers, and Bar-B-Que Combo Pits. Nice nuts and bolts fabrication business with good management and a good future.
Har-Witt is a metal fabricator that does quality custom work primarily
for the Oil and Gas industry.
Intile Designs, formed in 1976, has a 65,999 square foot warehouse in
Houston and four outlets. They are also in League City, Corpus Christi, Austin and San Antonio in Texas, Anaheim, San Francisco, Sacramento, San Diego, Palm Springs, In California, Atlanta, North Carolina, Phoenix and Orlando, and are building a national chain of showrooms and representatives. They wholesale and retail thousands of designs of high end, top quality handmade, glazed stoneware tiles, brick pavers and glass blocks imported from Brazil, France, Italy, Spain, Japan, Indonesia and Mexico. They have exclusive sales
rights to most of their product lines, which are some of the most beautiful tiles there are. Their International Collection of Designer Hand-painted ceramic tiles is magnificent, as are their swimming pool tiles, coping and depth markers. They also produce specialized signage in Braille and custom tile designs, and market supplies for tile installers, wallcoverings, paint, and related products.
Profit margins are very high in this business and US tile manufacturers cannot compete price wise with the foreign imports.
Intile is debt free. It is in the process of acquiring a large Florida importer, which when completed shortly, would make Intile Designs the largest importer and supplier of tiles and brick coping in the United States.
Revenues would be $45 million and the company highly profitable.
Negotiations start shortly with the largest Mexican manufacturer of tiles ($45 million).
Intile is debt free and magnificently managed.
The final division under the Industry segment is National Plastics which manufacturers a variety of products for industry.
Brenham Oil and Gas owns a royalty interest in a producing gas well
that will generate revenues of $150,000 annually.
Texas Real Estate Enterprises owns two properties in Houston that are
very undervalued. One 40 acre industrial site next to the Interstate is on the books for original acquisition cost 20 years ago of $183,000
The second property, recorded on the books at $1,800,000, is the
290 acre Galveston Bay location (mineral rights severed) that has been
offered to Marvin Davis' oil company for $10 million. The property has water access to Galveston Bay and looks out on Marvin Davis' oil rig. The parcel faces Dickinson Bayou on the left, Galveston Bay to the front, and a 730 acre parcel to the right. The adjacent 730 acre property is surrounded on two sides by a Wildlife Reserve facing Galveston Bay and the main highway in back. There is no water access to the property except through EDII's land. It does have long
frontage on the highway and several producing wells (mineral rights
owned) on the side on the property farthest from EDII's land.
EDII Management is negotiating with the owners of the land to acquire it. There is a great future for the combination of the two parcels
together.
An additional major acquisition is close to completion in the Finance
Division. The recent acquisition of Acqueren, Inc., a profitable
company engaged in the resale of coated wiring, is already known to you. Insurance Brokerages and an Insurance Company acquisition will follow down the road.
The Entertainment Division will be formed shortly with the completion
of the acquisition of Cinema Research Corporation. In rapid succession three other complementary acquisitions will be made.
|
