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Microcap & Penny Stocks : EDII -- Ignore unavailable to you. Want to Upgrade?

To: CatLady who wrote (1573)	6/19/1998 3:06:00 PM
From: ColleenB	Respond to of 2849

If we can state preferences, I like the yellow guy best

To: CatLady who wrote (1573)	6/19/1998 3:38:00 PM
From: jhild	Read Replies (2) \| Respond to of 2849

I was just re-reading the thread, and I have seen several mentions about a line of credit for $18M. My reading of that release indicates that to be nonsense. There is apparently no $18M line of credit. The $18M is just a bank limit to one entity, having nothing whatsoever to do with EDII. Just seems to be an unrelated fact thrown into the release. Their line of credit is only to one of their subsidiaries and that is only claimed to be $800,000. Monday May 11, 6:03 am Eastern Time Company Press Release Energy Drilling Industries Inc. Receives Line of Credit From SouthWest Bank of Texas and Corporate Headquarters Moves KEMAH, Texas--(BUSINESS WIRE)--May 11, 1998--Energy Drilling Industries Inc. (OTCBB:EDII - news) announced today the company arranged for a line of credit with SouthWest Bank of Texas. The bank funded $800,000 to one of the subsidiaries of Energy Drilling Industries Inc. The bank loan limit to one customer is $18,000,000. Energy Drilling Industries Inc. intends to use additional funds of its line of credit to acquire three previously announced acquisitions, Acqueren Inc., Cinema Research Corp., and Intile Designs Inc [OTC BB:IDES - news]. Further, the company announced that it has moved its corporate headquarters to 601 Hanson Rd., Kemah, Texas. Daniel Dror, chairman of Energy Drilling Industries Inc., stated that the company has five divisions: industrial, financial, oil and gas, real estate and entertainment. Energy Drilling Industries Inc. assists its subsidiaries to build each division in its own field. For more information, please contact Energy Drilling Industries Inc. at 601 Hanson Rd., Kemah, Texas 77565-2701. Tel: 281/334-4764 Fax: 281/334-5090. biz.yahoo.com