niche ... but encouraging
EDE's 100% owned U.S. subsidiary Eden Innovations LLC, has signed a long term agreement under which Eden US will sell EdenCrete®, and potentially other products, over the next 8 years to Silent Partner International, Inc. , a US company based in Florida.
The products will be used in the construction and maintenance of a number of proposed facilities that SPI plans to build in the USA and in other countries. SPI has developed a proprietary design that is to be used in the proposed facilities for mitigation of the impact of a broad spectrum of radio frequency interference and/or electromagnetic pulses that can result from natural occurrences such as solar flares, or human generated causes such as nuclear explosions. The proposed facilities will be designed for energy generation coupled with one or more of desalination, IT/data storage, aquaculture and/or agri-tech. In addition to increasing the strength and durability of the concrete, the EdenCrete® and other products are to be included to help SPI achieve the Purpose and mitigate the impact of RF interference and EMP on the Facilities.
At the request of the ASX, in order to correct the significant level of misinformation being circulated on social media, Eden advises that it conducted a due diligence review before it entered into that agreement, and that review included the following:
1. In addition to both Eden US’s CEO and its executive director travelling to Florida and spending a day meeting with Mr Dale Hobbie, CEO of SPI, Eden US spent many further days discussing the proposed agreement, and enquiring further about the various projects that were proposed to be undertaken; and
2. Eden US also made other enquiries including a number of enquiries of US companies that we were advised were involved in the proposed projects in one way or other.
There's been a few announcements like that from this company.Their latest news regarding a sale of Edencrete additive for an important historical restoration (Moffat Tunnel portal) involves a sale of only $2100 worth the product. Mgt calls this sale a significant milestone!
They've sold 85 Gallons, presumably that is US Gallons, of product then.I thought this was a joke (or a typo) at first
Worth requoting an exceptionally detailed post by Kahuna a few years ago. Crazy stuff for years.Any person in a bull market can make money.
Even stocks with no merits can and do rise.
This company raised not 8 months ago 5.7 million at 11 cents.
Its now .... just over half that with a low 25% of that PRIOR to this ramp ramp ramp announcements.
Paying 2 million to two lawyers, for such a tiny company is absurd.
Personally and with a lot of experience, I DOUBT .... even if sales increased 10 fold .... 10 times this company would even break even.
I suspect, the money raised less than 12 months ago at end of June .... 7 months ago ... for the cap raising ... if there is 3 million left, I would be surprised as of end of June and by end of Sept ... another cap raise.
With 1.7 billion shares ... market cap of 110 million, and this company has been touting similar pie in the sky stuff for 10 years, if not 15 ....
SHOW ME THE MONEY and cut the needless overheads. That of course will never happen and its a money pit with not much hope in sight.
Time will only tell and I am not amused .. then again because some squiggly line suggests its going up, to the technical trading and TAB betting types, whilst it is very clear they will need MUCH MUCH MORE ... capital ...by a very casual look at the accounts and a state of perpetual loss is ... well ... like betting on horse three in race 7 because it did a poo in the yard prior to the race.
Oh please !! Spare me ...
PS ... I note 10 years ago, in 2009, there were 181 million shares ... now 1.6 billion so that's only say 1.4 billion SUCKERS say at 5 cents .... or 70 million that has evaporated ?
728 million shares early 2014 .... so 900 million at 5 cents issued in 5 years .... likely higher ... and still no end in sight.
Tee hee 15 million raised in 2016 at 15.5 cents per share to Institutions .... Was it mental institutions ? another 6.2 million early 2018 at 11 cents per share ....
ooh and 7.8 million at 8 cents in 2019 ...
Its basically gone ... we NEED MORE .... I suspect by end of Sept.
Gotta pay those management fees.
Seriously ...
Is that on my chart ?
End of March 2019 ... 5 mio left ... cash burn rate for 9 months 10 mio ...
So end of June 2019 .... likely 2.5 mio or less.
Management fee 339 k per quarter on the books PLUS other stuff if one looks.
All that or USD75,000.HIGHLIGHTS Three-year, bulk EdenCrete® supply agreement signed with Delta Industries, Inc. Delta (established 1945), a ready-mix company, operates over 30 ready-mix plants in 4 US states, with an aggregate population over 19.5 million people: o Mississippi, o Alabama, o Louisiana, and o Tennessee, Mississippi, Alabama and Louisiana are all new EdenCrete® markets. The first three 1,000-gallon tanks and dispensing equipment are being installed by Eden in three Delta plants (two in Tennessee and one in Mississippi Initial orders from Delta, worth US$75,000 (A$105,927) for 3,000 gallons of EdenCrete®, will follow installation of the tanks and dispensing equipment. This supply agreement follows extensive trialling undertaken by Delta with shotcrete contractors.
They should have died years ago. However I think this "parrot" has been diligently propped up for as long as the directors can extract their fees. Just requires more and more investors to buy fresh shares.EDE qtrly/yearly report shows increases in sales to the whopping 4.1 mill for the year, a 26% increase on last years figures.
Now selling to retail customers via Lowes stores in two states.
Trouble is, they have barely two months worth of cash to survive.
They say monthly deficits will decrease as sales receipts increase, but they need to double their sales just to break even.
The big question is, will they still be in existence this time next year??
Mick
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