posted
I've been watching EDGH for a few days now. This looks like a a strong company with positive cash flows per the last 10QSB. http://finance.yahoo.com/q?s=EDGH.OB
The o/s is a little over 70mil, and from the last few news releases, it looks like they have some acquisitions on the way. We are still coming of a 52-wk low of .01, currently at .0155. IMO, I think we have some very nice upside potential here? Any thoughts welcome
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SANTA MONICA, CA--(MARKET WIRE)--Jan 26, 2006 -- Since the merger with Web's Biggest, Inc. was completed in June 2005, management at Edgetech Services, Inc. (OTC BB:EDGH.OB - News) has been restructuring the IT business that existed prior to the merger. During this time, management has been developing a strategy for the co-existence of the search business and the IT business and has ultimately determined that there may be more future value created for shareholders if the Company pursued a strategy that is focused on Internet as opposed to IT. As a result, the Company has determined that an acquisition strategy for Edgetech is the best way to create shareholder value. Management believes that an acquisition of a highly automated and scaleable Internet business will allow Edgetech to take advantage of the current popularity of search engines and Internet business in general.
In accordance with this acquisition strategy, Edgetech has looked at and is currently evaluating various acquisition candidates. These companies target various segments of the Internet industry; however, management believes that they will mesh well with Edgetech's existing businesses and provide a good return to shareholders.
Management does not know when an acquisition could be completed.
About Edgetech
EdgeTech's primary business units are Internet Search (www.websbiggest.com) and IT Consulting.
Web's Biggest is the world's largest "wiki" based search engine. Its Editors Choice directory is localized for 230 countries in 70 different languages. Web's Biggest has licensed the entire Whois database of more than 40 million domain names, enabling them to search almost every website in the world. Other search engines rely on hyperlinks and manual submissions to find websites. In a recent study done by the company, other search engines missed a third to more than half the websites in Web's Biggest search results.
The IT Consulting business provides services in the following areas: IT Security, Biometrics, Business Solutions, Systems Engineering, Software Development and Project management. EdgeTech is a Business Partner to Microsoft, IBM, Symantec, Counterpane and many others.
This press release includes forward-looking statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Inherent risks and uncertainties could cause actual results to differ materially from the forward-looking statements. Such risks and uncertainties are described in the periodic reports the Company files with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Distributed by Filing Services Canada and retransmitted by Market Wire
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posted
Friday EDGH closed nicely with all buys on a little over 300k shares. Last sale price was at .016. This is still very close to where it was when first mentioned.
A few more things of interest - Last year management changed as well, the new CEO and Director is a man named Adam Radly who has oversaw a multi-million dollar company before. He is also involved with a company called Evolution3, which has a similar business model. Also, the O/s is just a bit over 70mil, the float I believe around 35mil. Is anyone else watching or in this one?
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posted
I liked this stock about 2 yrs ago and bought in at .16, I still have shares in it. Its going to take some big news to get this stock moving. Its done nothing in the last year!
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posted
Thanks Tara. I'm still happy this one. I think given the DD behind it and positive things the company has going, there is some nice upside potential here. A few things to mention I have found.
* EDGH has approx. 70m in the o/s * Share price is still below .02 near the low. * There has been talk in recent news releases of posible acquisitions coming. * Company has had positive net revenue the last few quarter which is not common with pennies this low * Recently appointed a new CEO - Adam Radly who has experience and interest with other companies of similar business models. He is involved with evolution3inc for example. http://www.evolution3inc.com/
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