OK gang, back with some new info. Glad Top Dog is doing some good dd, as for their latest on notheastern plastic's they got about 95% right. everything sounds right(check post # 835) except the 82% ownership. EDII owns 100%, it was a full merger. Unlike the aquisition of Intile, Acqueren, Inc and its subsidary NorthEastern plastic were private corperations, not traded on any exchanges, so there were no investment trusts owning 20% of it's stock like Intile had, so when its owners voted to merge with EDII, and accept restricted stocks of EDII for their company, they were betting that the value of the stock would be worth more than the value of their 25 million a year company when the shares become unrestricted, due to a company owning a lot of profitable companys will be worth more than one profitable company, and with the type of aquistions EDII has been involved in, it makes a lot of sence. Next we have the different stories between me and jmt, in where I reported that I was told that EDII made 5 million last year, and jmt said he had 1997 financials, which showed that it was'nt 5 million profit but 5 million in revenue's. I don't know, I only reported what I was told by EDII's investor relations told me, but for the sake of an argument, let'd assume jmt was right and it was revenues not profit, what jmt failed to mention and I don't know if it was because he did'nt know, but in 1997 EDII was the proud owners of only 2 companies, Har-Whit Inc and Pitts & Spitts Inc. They aquired Brenham oil & Gas, Texas Real Estate Enterprises Inc and a company called G.C.A. Inc in jan-1998. G.C.A. Inc, I have not been able to find out what that is yet, but I'm working on it(in their press release's EDII states they have 5 divisions: industrial, financial, oil & Gas,real estate and entertainment, I can match up 4 of those industries with company's they own, so I am assuming G.C.A is the compant representing EDII's financial industry and am pursuing info along that direction). They also aquired Cinema research corp around the same time they got Intile. Then in May, they aquired Acqueren and NorthEastern Plastics.
We should also note that all these aqusitions that are now happening is the direct result of a new CEO at EDII. On Jan 26 1998 former president John Christensen of EDII was replaced by current CEO Daniel Dror, who owns a personal 25% stake in EDII, and has a reputation as being a hardhitter, and very profitable in his business endeavors, and with a 25% personal stake, I would say the higher he gets those shares of stock the better off he would be( I love being invested when a CEO of that company owns a big chunk of it).Now I also found a post in which EDII reported having a total of 46 million shares outstanding, this was reported in 1997 and out of all these aquisitions the only mention of EDII issueing new shares was in the deal with Acqueren and N.E.P, and those were restricted shares, and no number of shares was given.
so without assuming anything, just going on what was reported we have har-whit/pitts & spitts getting a bigger factory because they can't keep up with demand, but sincee no numbers were reported let's not include any rev's there.Next is Intile D and cinema r, and even though they report cinema r profitable, lets not add anything their either. Now Intile reports 13.5 million of rev's, we'll count that. the land deal has been from 1 million to 10 million, so lets take 5 million as the number, and then we have NorthEastern with reports of 25 million in revenues. Now on just 2 companys we have reporting revenues of 38.5 million(not including whatever the land deal brings) with a note by EDII of being very profitable. EDII also stated that when all deals are done which will be by june 30th, 1998, they will have revenues of 50 million and profitable, with a book value per share increasing 150 percent. WE have identified 38.5 million of that, and a total of shares, albeit not including restricted shares which are usally restricted for 3 years, so let's bury the hatchet jmt, and do that thing with the numbers you do so well, and see where we are with this Posted info. That's it for now, I'm still gonna check on that G.C.A. inc, but I need to soak my swollen typing fingers. Ken M. |
