Monday, July 24, 2006
DEWY, DGIX, EIUS, all bad
DEWY (sec) 2kW generators for military, also 90 acres in Bergen County NJ which they're trying to sell. Long term prospects aren't so good. Don't bother.
DGIX (sec) Dyna Group International. Pewter trinkets with NASCAR license, NFL, MLB, NHL, some universities, etc. Looked at them here. Went dark and seem to have disappeared. Not interested.
EIUS (sec) Entertainment Is Us. They buy up entertainment properties. Issued 8.3 million shares to buy Sunkyo, a Japanese pachinko parlor and developer. 5 million shares were accidently issued to consultants. OOOPS!
The shares were to be issued to each such consultant only if the consultant successfully performs all such services. As of the date of this report, the consultants have not located any suitable merger candidates, nor has any such transaction been consummated. As a result, the Company does not believe these shares were earned by the required performance by these consultants under their Independent Contractor Agreements. On February 22, 2006, before the issuance of these shares was completed, the Company's Chief Executive Officer sent instructions to the Company's transfer agent attempting to prevent the issuance of these shares or any other shares that would cause dilution to the Company's stockholders without appropriate consideration to the Company. Despite these instructions, the 5,000,000 shares were subsequently issued. The Company is currently considering its alternatives to obtain the return of these shares, money damages or other remedies.The pachinko gambling business rakes in 14.8% of wagers (which was a net $7.8 million in the quarter ending March 31, 2006). The machines are good for 2-3 years, but can be less if the latest fads change too quickly.
Ginza Kaikan is a company that operates entertainment facilities for pachinko and slot machines. Ginza Kaikan is owned by Mrs. Kyoko Kanayama, the wife of Noriyuki Kanayama. Mrs. Kyoko Kanayama is a director and the majority stockholder of Ginza Kaikan. Ginza Kaikan owns four entertainment facilities in the city of Shizuoka. The Company sends employees to Ginza Kaikan and shares some parts of their salary with Ginza Kaikan. The Company also rents property to Ginza Kaikan.And then there's this weird press release:
Entertainment Is Us, Inc. (OTC BB:Oh, and there's a guy running around claiming to be an officer of the company:
EIUS) today announced that it has recently been approached by certain shareholders claiming to have been contacted by organizations not authorized to act on the Company's behalf. Among other inappropriate actions, one firm has allegedly contacted certain EIUS shareholders in an effort to seek payment for removing legends from unregistered shares in order to make them freely tradable. This firm is purportedly offering to charge a fee that is not warranted, and this organization has no authority to act in this capacity.
Entertainment Is Us, Inc. (OTC BB:The stock has recently dropped from $1.50 to around 13 cents, but I think I'll pass.
EIUS) recently became aware that Peter Voss appeared at an April 28, 2006 Small-Cap Conference sponsored by RedChip Companies, Inc. and falsely claimed to be an officer of the Company.
I'm thinking of a Japanese word... and the word is "yakuza". In reality I have no idea, it's just a thought.