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Re: curlews post# 175

Thursday, 01/11/2007 2:09:18 PM

Thursday, January 11, 2007 2:09:18 PM

Post# of 585
I'm w/ curlews. I'm picking IEAM.ob.

With EPS projections of .22, .33., and .50 for the next 3 quarters, IEAM looks like a steal under $4. CEO has put his money were his mouth is by purchasing over 300,000 shares at an avg. price of @ $5. He receives NO salary, only benefiting from running IEAM via stock appreciation. He would have to have a twisted sense of humor to pay himself nothing while spending $1.5 million of his own money on a stock he knew was a money-losing scam! For this reason, I tend to believe his optimism and projections are sincere. Even if IEAM reports half of the 50 cents projected 3 quarters out, IEAM should be trading much higher by the end of the year. A couple of potentail catalysts include the recent China news (see below) and the pending NASDAQ listing...


A few knowledgeable and respected posters brought up some concerns regarding IEAM's share count and accounting meathods, so please be aware that there are differing opinions on how the financials are reported. The jury is still out on whether IEAM can achieve the profitability they are guiding for...if they can, I think IEAM could be a multi-bagger by the end of 2007.

Recent China news:

Industrial Enterprises of America Forms Joint Venture With Sinochem Ningbo Ltd.
Monday December 18, 11:53 am ET

NEW YORK, Dec. 18, 2006 (PRIME NEWSWIRE) -- Industrial Enterprises of America, Inc. (OTC BB:IEAM.OB - News), a specialty automotive aftermarket supplier, today announced that the Company has entered into a Joint Venture agreement with Sinochem Ningbo Ltd., a subsidiary of Sinochem Corporation, for the packaging of refrigerant gases in China for worldwide distribution. Sinochem Corporation is China's largest chemicals trader and a Global 500 Company.

Per the agreement, IEAM will provide packaging equipment and expertise as well as train the staff for the facility which will be provided by Sinochem. Profits from the venture will be effectively equally split between the two parties.

Industrial Enterprises anticipates that the Joint Venture will begin operations early next year, with a full transfer of equipment and trained personnel between IEAM and Sinochem's facilities to be complete by the end of March.

John Mazzuto, Chief Executive Officer of Industrial Enterprises of America, commented, ``This new venture has the potential to increase the earnings of our company dramatically as this facility will be shipping worldwide. We expect this Joint Venture to be a strong profit center for IEAM for many years to come. Although it is premature to forecast earnings for the new venture, I would expect it to have at least the same impact as the acquisition of Pitt Penn.'

Sinochem Ningbo Ltd. was established in 1987 and is a subsidiary of China National Chemicals Import & Export Corporation (SINOCHEM), which ranked 276th among the top 500 enterprises in the world.

About Industrial Enterprises of America, Inc.

Industrial Enterprises of America, Inc., Headquartered in New York, NY, is an automotive aftermarket supplier that specializes in the sale of anti-freeze, auto fluids, charcoal fluids, and other additives & chemicals. The company has distinct proprietary brands that collectively serve the retail, professional, and discount automotive aftermarket channels

Current businesses include:

EMC Packaging (no website?)
http://www.pittpenn.com/
http://unifide.com/index2.php



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