Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Samgee who wrote (4350)	1/4/1999 12:03:00 AM
From: Needticker	Respond to of 4814

More good news: Subject: Other aii companies Date: 1/3/99 4:54 PM Eastern Standard Time From: LQQX Message-id: <19990103165447.03249.00007009@ng03.aol.com> holloway writes: << A few years ago, while Daniel was head of Kleer-vu Plastics, he sold some assets to a company named American International Industries, but apparently it is not the same corporation as the present EDII. >> The American International Industries you refer to was a California based cosmetics partnership, run by a guy named Ryzman. Years later, Daniel made a search of the name for incorporation purposes, found it wasn't used, and filed for it. There are two others who use the unincorporated name, and one is an insurance company called the AII group. << How come Mr. Hartis won't pay up?>> From the financials: " In May 1998, Mr. Hartis was issued 250,000 shares of Common Stock at an aggregate purchase price of $25,000. As of November 9, 1998, the Company had not received payment." It was what was called a subscription. It must have been paid by December 31st, or the shares were canceled. Daniel doesn't know if it was paid yet. SIjanice writes: << Oh how I remember how rhapsodied the touters were at this supposed $18M line of credit. Oh how I remember saying that this was a misleading statement and that the Press Release said no such thing. Well guess what? There is no $18 million line of credit. In fact there is barely borrowings of $1.7 million. It seems that by looking through the filing that one can find that there was once a credit facility for $3Million, but it was paid down in January of 1998. What there was/is is a $150,000 note payable secured by receivables at 10½% due by March 18, 1999 and another note for about $640,400 bearing interest at 9¾%, due in February 2003. And there was subsequently another note payable associated with the purchase of CRC/DRC, in the amount of $1M. But even factoring this in comes no where near any $18 million possibility. So why mention it at all? Certainly no intent to confuse was involved here was there Danny?) >> By the time everybody is finished explaining corporate finance to these "experts", EDII Internet shareholders are going to have an MBA with EDII's name scrolled on the top of the diploma. When you apply for a $25,000 limit credit card, do you take all $25,000 dollars out and let it sit there and pay all that useless interest? No. You use the cash as you need it. The $18,000,000 is the limit that the bank can lend per customer. The amount of the company's limit is determined by the amount of assets that can be pledged to support the loan. So EDII only has the amount it needs at this point. It is very nice to know that the $18,000,000 is there, should EDII be able to pledge that much in applicable assets, for further expansion. LQQX