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EILL DD Summary: First thing, over 71% of the issued and outstanding shares of the Company's Common Stock) have determined not to proceed with the Company's planned reverse split of the Company's issued and outstanding shares of Common Stock at a ratio of 1,063,000-to-1 (the "Reverse Split") which would have taken it private. The Reverse Split would have cashed out all of the Company's Stockholders other than the Company's three executive officers. That means EILL is on the floor and only long termers are in it. Stock structure is Shares Out 6.08 mil Float 1.80 mil The filings were one of the absolute best I have read since I have been doing DD on stocks. They are generating about 2.5M in revenues a quarter ... with a 70% Gross Margin. The increase in sales was due to the addition of two locations in 1998, Seaport Jewelers opened October 1998, and Miromar opened November 1998, and the addition of two locations in 1999, Royal Dane Mall opened January 1999 and Universal Studios Citiwalk opened June 1999. As of September 30, 1998, they operated 28 retail locations and, as of September 30, 1999, they operated 29 retail locations. Although they added seven stores in 1998 and two stores in the first half of 1999, they closed their Portland, Oregon, Ontario, California, and Kenosha, Wisconsin stores on January 3, 1999, April 28, 1999, and August 3, 1999, respectively sfter evaluating the profitability of these locations Even though In 1997, they announced a 50 store expansion. In this regard, they opened four locations in 1997, seven in 1998 and two in 1999. However, management has elected to shift its focus from opening new locations to bolstering revenues from existing stores and expanding into e-commerce. Plus the news release stated alliances in the e-commerce. In September 1999, they established an e-commerce site (www.elegantillusions.com) to sell their products over the internet. This will allow a broader range for each location they have. copyjewels.com is presently the website and the link to elegant illusions has not been set up yet but is in the process. They have NO DEBT either other than monthly leasing and overhead. The Lodge in Vail, Vail, Colorado Website: rextravel.com NOTE: EILL was not been on CNBC in October... I believe Media Arts Group who have Thomas Kincade (NASDAQ: MDA) is the best stock to compare to EILL ... Take a look at their sales on this one artist and they have 3 times the float ... The sales have been moving up and profitability ... Can't Believe EILL is at a dollar ... the 10K is due out soon also ... from the looks of it they are going to be in good shape as they make the next move, Internet commerce. Heck, I can find nothing wrong at all with this company. Solid as a brick. Gary | ||||||||||||
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