OTCPK:ERILF - Post by User
Comment by
IlluminatiNWOon Aug 28, 2019 9:45am
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Post# 30074127
RE:RE:"Empire Industries has turned the corner!"
RE:RE:"Empire Industries has turned the corner!"Be careful with this one, Hawk has been in this one since at least the middle of 2012 saying much of the same thing.
Last year, in order to survive, EIL had to procure very high interest loans with interest rates as high as 11.5%.
Hawk is right, this is very much a story at this point, and EIL has the potential to be a great company but it could also turn into a nightmare very quickly as their financing costs are very high. This quarter alone they were around 2 million dollars and their margins have been historically razor thin. They also had a loss of $50 million in 2018 although 70% of this was attributable to a writedown in assets.
Just my humble opinion. Glad I got out when I did and yes Hawk I did move a good chunk of my portfolio in Pan American Silver where I have done very well.
Good luck to all!