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Microcap & Penny Stocks : American International Industries Inc. OTC BB Symbol EDII -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (764)	7/14/1998 10:05:00 AM
From: BigDaddyMac	Read Replies (1) \| Respond to of 4814

work up the figures for yourself, amigo, by the way, do you own any EDII or are you thinking about buying any. THEN WHY ARE YOU HERE. i have never seen someone beat a dead dog more than you, it is about time you grow up and move on to more important and relevant discussions, like Janice shell for president. mitchell

To: marcos who wrote (764)	7/14/1998 11:07:00 AM
From: Janice Shell	Read Replies (2) \| Respond to of 4814

I confess I'm at a complete loss to understand this book value business: MPI is a real estate investment company with properties in Houston, Harris County, Texas. MPI has a net book value of $2,500,000 and will be merged into Texas Real Estate Enterprises, Inc. (''TREE''), a wholly owned subsidiary of EDII. EDII issued 1,100,000 restricted shares of common stock for 100% of all shares outstanding of MPI. The EDII shares exchanged were based on a value of $2.40 per share. This acquisition will enhance the real estate holdings of TREE. Houston's economy is no longer dependent on the energy industry. The largest Medical Center in the world is located in Houston, and large computer and software companies such as Compaq and BMC are based in Houston. The real estate market is good and the company believes that its portfolio of properties is a very valuable asset. Whose "book value" are we talking about here? Here's what this statement suggests: the real estate company is "worth" $2.5 million, and EDII is giving them 1.1 million new shares which for some reason are valued at $2.40 a share. MPI is said to have a "net book value" of $2.5 million; suddenly EDII's shares have a "value" of $2.40, though it is not specified to be "book value". Let us bear in mind that the actual value of a share of EDII is currently 0.45, its market price. So 1.1 million shares are in reality (something in scarce supply around here, methinks) worth $495,000. There is much here that I do not understand.