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Intelligent Living Corp. Completes Centerpoint Discovery Center Project in Tempe, Arizona Monday January 29, 9:00 am ET
VANCOUVER, BC--(MARKET WIRE)--Jan 29, 2007 -- Elgrande International (OTC BB:EGDI.OB - News) announced today that the Company's wholly owned subsidiary, Intelligent Living Corp. (ILC) (www.intelligent-living.us), recently completed a project to automate Discovery Center, the sales and marketing center for the planned 800-unit Centerpoint condominium development underway in Tempe, Arizona. ADVERTISEMENT
The $70,000 project includes an integrated audio/video/security system utilizing Microsoft Media Center (MCE) technology to drive six 63-inch high-definition plasma screens showing lifestyle pictures, floor plans for the project and special event images. Also included are: two 7-inch touch panel screens that replicate and control images on two large screens, advanced video processing to integrate four of the large screens into one seamless image, and video cameras to record and display cooking demonstrations in the development's gourmet demonstration kitchen.
Michael Holloran, Chief Executive Officer of Elgrande International, commented, "The Centerpoint project has been recognized as a design landmark development, and we are honored to be part of the team. We were given the challenge and a free hand to design and deliver a state-of-the-art system that combines visual impact, technology and utility. Our design contributes to the architectural presentation, and the system gives audio/video impact to the sales process and to prospective condo owners. Going forward, we expect to be the preferred supplier to the development for all home automation solutions."
ILC has ongoing contracts and relationships with a number of builders, primarily those developing high-end condominiums and gated communities, and established associations with industry leading technology partners. ILC is expected to contribute up to $4 million of revenue by the end of Calendar 2007 based on the work-in-progress and the typical systems ordered.
About Centerpoint Condominiums
Developed by Avenue Communities, designed for luxury living and situated in downtown Tempe (Greater Phoenix), Arizona, the Centerpoint Condominiums will comprise of 800 condo homes ranging in size from 800 to 3,000 square feet in 4 high-rise towers. The complex will include a 23,000-square-foot facility on the 7th floor that will house a commercial-quality movie theatre, a world-class fitness centre, and a state-of-the-art commercial demonstration kitchen. The ground floor will include a gourmet café and grocery store and the complex will be home to the first winery in greater Phoenix and the first winery to be located within a residential community (www.centerpointaz.com).
About Elgrande International
Elgrande International through its wholly owned subsidiary Intelligent Living Corp. (www.intelligent-living.us) specializes in designing, supplying, installing, upgrading and servicing home automation and commercial presentation center solutions including: structured wiring, security systems, internet access, lighting and HVAC control, and distributed audio/video systems. The Company offers both wired and wireless technology for single and multi unit new construction and existing buildings, using both traditional component and Windows Media Center based systems. ILC has been supplying custom IT solutions since 1994 and home automation solutions since 2003. The Company has offices and demonstration suites in Phoenix and Vancouver and ongoing projects in southwest BC and the greater Phoenix area.
Safe Harbor Provision
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, "Going forward, we expect to be the preferred supplier to the development for all home automation solutions," and are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. Risk factors include, lack of liquidity, availability of product, uncertainty concerning market acceptance of its designs, competition and other risk factors as outlined in the Company's SEC filings.
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EGDI can't find any reason for the selloff on a retail basis. The news looked good ...nothing to cause a 50% selloff. The only conclusion is there is some inside selling. Looking for a bounce today.
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The news was great, projected $4mil in revenues for EGDI's subsidiary, nice.
So, no reason to tank, right?
Well, the company has an S-8 out for 18mil shares. And the volume was 21mil yesterday (avg volume is like 400k or less) So, my thought is the company dumped the entire S-8 on the news and the market overreacted and killed the stock.
What's that mean for us?
Well, I think it means that there is likely no dilution left, and we now have a severely undervalued stock (expecially with the good news) I see a bounce back to over a penny easily from here...
Haven't seen a chart like this in a while, I love it...
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What a day in the life of a stock this was :
01/29/07 Open -.0120, Close - .0050 -0.0070, Volume 21568600 -58.33 %
5-Day Avg Vol 5167920 (4 times avg) 20-Day Avg Vol 1753065 (12.4 times avg) 50-Day Avg Vol 867548 (24.8 times avg) (those are todays numbers and include the 21M from 1/29, so the variances are even greater prvious to 1/29)
Today they brought it down to .0042, briefly. I am thinking it will recover within in three days, any time from tomorow to next Tuesday.
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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"WEIGHTED AVERAGE NUMBER OF COMMON STOCK SHARES OUTSTANDING, BASIC AND DILUTED"
I apologize for not knowing exactly what that means. I am accustomed to looking at "number of shares outstanding", as opposed to weighted average, outstanding, basic and diluted. I can read a form 10 with a rudimentary skill level, however you seem much more knowledgable since you have highlighted it in your comment. I am sure it is of some gravity and import since you elected to highlight. Perhaps if you can define the term, "WEIGHTED AVERAGE NUMBER OF COMMON STOCK SHARES OUTSTANDING, BASIC AND DILUTED", and how it relates to the actual outstanding, I might understand better, and offer a comment that might have meaning and value. Again please explain how the weighted avg O/S, basic & diluted, relate to the actual O/S.
As it stands I am comfortable with a stock losing 60% of its value, and reporting an outstanding of 72M, and a float of 66M.
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"If the common has doubled and people found out about it maybe they got tired of holding and dumped. Any ideas? TMAN..."
I do not read the Form 10 as common has doubled. Until you can define the terms, "WEIGHTED AVERAGE NUMBER OF COMMON STOCK SHARES OUTSTANDING, BASIC AND DILUTED", and how it relates to the actual O/S, I cannot accept that to be factual.
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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This is what I can see and do know regarding the O/S :
The number of shares outstanding of each of the issuer's classes of common equity as of the latest practicable date: August 31, 2006 41,512,479
The number of shares outstanding of each of the issuer's classes of common equity as of the latest practicable date: November 30, 2006 Common 72,712,479
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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That is my question Will. Why would the 10Q have two different numbers of outstanding shares listed for the same date? I am assuming that the "WEIGHTED AVERAGE NUMBER OF COMMON STOCK SHARES OUTSTANDING, BASIC AND DILUTED" are all shares that have been issued including restricted, any options etc. If anyone has the answer I would like to know as well. TMAN...
-------------------- In the end, trust only yourself when trading stocks.
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What is the weighted average of outstanding shares? How is it calculated?
The amount of shares outstanding in a company will often change due to a company issuing new shares, repurchasing and retiring existing shares, and other financial instruments such as employee options being converted into shares.
The weighted average of outstanding shares is a calculation that incorporates any changes in the amount of outstanding shares over a reporting period. It is an important number, as it is used to calculate key financial measures such as earnings per share (EPS) for the time period.
Let's look at an example: Say a company has 100,000 shares outstanding at the start of the year. Halfway through the year, it issues an additional 100,000 shares, so the total amount of shares outstanding increases to 200,000. If at the end of the year the company reports earnings of $200,000, which amount of shares should be used to calculate EPS: 100,000 or 200,000? If the 200,000 shares were used, the EPS would be $1, and if 100,000 shares were used, the EPS would be $2 - this is quite a large range!
This potentially large range is the reason why a weighted average is used, as it ensures that financial calculations will be as accurate as possible in the event the amount of a company's shares changes over time. The weighted average number of shares is calculated by taking the number of outstanding shares and multiplying the portion of the reporting period those shares covered, doing this for each portion and, finally, summing the total. The weighted average number of outstanding shares in our example would be 150,000 shares.
The earnings per share calculation for the year would then be calculated as earnings divided by the weighted average number of shares ($200,000/150,000), which is equal to $1.33 per share.
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Seems as though they are related only by time if/when dilution is ocurring. They are not ACTUAL shares, they are used to avoid anomolies in the financial reports, I discount them as useful, and would rely on the actual O/S as more pertinent information for my puposes.
-------------------- A million seconds is 13 days. A billion seconds is 31 years.
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