Replies to post #49091 on Penny Stock Wallbusters (PSW)

[wickerman]

yep IPII a no brainer under $1 norris when the first hurricanes start up this will explode over $4 within a few days -- also had a pr from late yesterday:

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Imperial Industries, Inc. Reports Amendment of Its Credit Facility With Its Commercial Lender
On Tuesday June 2, 2009, 4:00 pm EDT

POMPANO BEACH, Fla., June 2, 2009 (GLOBE NEWSWIRE) -- Imperial Industries, Inc. (Nasdaq:IPII) announced today that it has amended its line of credit with its commercial lender as of May 29, 2009. Borrowings under the line of credit are collateralized by and based upon eligible accounts receivable and inventory of it subsidiaries.

The amendment extended the maturity date of its line of credit from June 1, 2009 to June 10, 2009 and reduced the maximum credit amount based on eligible collateral, from $9,000,000 to $3,500,000. In addition, the amendment increased the interest rate under the line of credit to, at the Company's option; either at prime rate plus 3%, or Libor plus 4%. Also, the amendment further reduced the Company's borrowing capacity by shortening the time period accounts receivable remain unpaid from date of invoice to be considered eligible for borrowing purposes and lowered the rate of borrowings available against eligible inventory.

For further information and a more complete description of the terms of the amendment, please refer to the Company's Current Report on Form 8-K filed with the Securities Exchange Commission today.

Imperial Industries, Inc., a building products company, sells products throughout the Southeastern United States with facilities in the States of Florida, Mississippi and Louisiana. The Company is engaged in the manufacturing and distribution of stucco, plaster and roofing products to building materials dealers, contractors and others through its subsidiary, Premix-Marbletite Manufacturing Co. The Company's subsidiary, Just-Rite Supply, Inc., is engaged in the distribution of gypsum, roofing, stucco, insulation, doors, windows, lumber and other related products manufactured by other companies as well as the Company's manufactured products. See our website at http://www.imperialindustries.com for more information about the Company.