Posted by Oldpro
EEGI - unknown pure hurricane play...
that hasn't moved big yet. It's under the radar because of it's misleading name IMO. Profitable, low float. Any volume and it shoots up.
KNOXVILLE, Tenn., Sept 16, 2005 /PRNewswire-FirstCall via COMTEX/ --Eline Entertainment Group, Inc. (OTC Bulletin Board: EEGI) today reported its financial results for the three and nine months ended July 31, 2005.
Eline Entertainment Group reported revenue of $1,508,967 and $3,608,733 for the three months and nine months ended July 31, 2005, respectively, as compared to revenues of $917,977 and $2,855,969, respectively, for the comparable periods in fiscal 2004. The respective 64% and 26% increases in revenue during the fiscal 2005 periods relative to the same periods in fiscal 2004 reflects the positive impact of the Company's Storm Depot International subsidiary, which commenced operations during the three months ended April 30, 2005, contributing revenue of approximately $544,000 during the three months ended July 31, 2005 and approximately $636,000 during the nine months ended July 31, 2005.
The Company reported net income for the three months and nine months ended July 31, 2005 of $99,217, or $.03 per share, and $200,053, or $.01 per share, respectively, as compared to a net loss of $(490,297), or $(.04) per share, and $(1,068,236), or $(.09) per share, for the comparable periods in fiscal 2004.
The Company's Storm Depot International subsidiary recently reported an expansion of its dealer network into coastal gulf region of the United States with the appointment of a new dealer in Louisiana. The dealer will be operating in the Slidell/Covington area of Louisiana. This area was devastated by Hurricane Katrina and a massive rebuilding program in this area is expected. To that end, the Company recently announced that it has formed, through its Storm Depot International subsidiary, Storm Depot Restoration Corporation, which is currently in negotiations with several companies based in Slidell, Louisiana, to provide equipment and workers to assist in the clean-up effort from those areas affected by Hurricane Katrina. Storm Depot Restoration's services will initially involve removal of debris at some of the hurricane-affected locations prior to commencing any restoration services. Storm Depot Restoration plans to establish a base of operations near Biloxi, Mississippi and Mobile, Alabama in the near future.
About Eline Entertainment
Eline Entertainment Group, Inc. provides manufacturing solutions through the design, fabrication, sourcing and distribution of specialty materials, systems and related supplies for use in industrial, commercial and residential applications. Through its Industrial Fabrication and Repair subsidiary, the Company provides machining, welding, specialty design, fabrication and component sales for custom applications, including systems used in the movement of raw materials, finished goods and supplies in its customers' manufacturing processes. Its customers include PepsiCo, Tennessee Valley Authority, Kimberly-Clarke Corp., American Limestone, Gerdau-AmeriSteel, Vulcan Materials Co., Harrison Construction, Blue Diamond Coal, Carlex Glass, HBD Industries and Hartco Flooring, among others. The Company's Storm Depot International subsidiary distributes hurricane protection products, including its proprietary E-Panel, a lightweight translucent hurricane panel, through a network of licensed dealers and independent retailers. The Company's dealer outlets offer the public and the contracting trade a one-stop shopping solution for a broad range of hurricane protection and preparedness products. Eline Entertainment Group has recently announced that its Board of Directors has approved changing the corporate name to Grande International Holdings, Inc.
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