IEAM

[raspi]

insiders buying at $3-$5 range. Could be a good opportunity to load at low $3s

[raspi]

insiders buying at $3-$5 range. Could be a good opportunity to load at low $3s

forgot link: http://www.secform4.com/insider-trading/1059677.htm

[Stocky2000]

insiders buying at $3-$5 range. Could be a good opportunity to load at low $3s

thanks

[Stocky2000]

bounce triggered we broke day high 3.33 

[la-onda]

let´s play the rebound game
I am in 

[ygtrdr]

I'm in this one as well. Good luck.

[la-onda]

I have listen to the updated CC (incl Q&A) and in my opinion IEAM should trade much higher!

Form 10QSB/A for INDUSTRIAL ENTERPRISES OF AMERICA, INC.
6-Dec-2006
Quarterly Report

Item 2. Management's Discussion and Analysis or Plan of Operations.

Three Months Ended September 30, 2006 as Compared to Three Months Ended September 30, 2005

Revenues from sales of products for the three months ending September 30, 2006 were $10,035,386 as compared to $4,909,803 for the same period in 2005. The 2006 amount reflects the additional revenue derived from the addition of Pitt Penn's operations. The other revenues for the Company during the quarter are attributable to the Company's on-going plan to pay consolidation expenses by realizing value on assets that are undervalued on the financials of the Company. For the three months ended September 30, 2006 these other revenues were $2,420,739 as compared to $0 for the same period in 2005.

Total operating expenses for the three months ending September 30, 2006 were $2,375,708, as compared to $1,671,418 in the same period of 2005. Of the 2006 amount, $1,819,368 was due to the operations of EMC, Unifide, Todays Way and Pitt Penn and the balance was due to the Company's corporate expenses. The additional expenses for the quarter reflect the expenses from the operations of Pitt Penn which were not present at the same period in 2005.

Interest expense in the first fiscal quarter of 2006 amounted to $1,829,868, as compared to $599,981 during the same three month period of 2005. The difference is attributable to the Company's treatment of its convertible debt with attached warrants as a derivative security and the money raised to purchase Pitt Penn.

The result of the above was a net gain for the three months ending September 30, 2006 of $985,771, compared to a net loss of $(852,790) for the three months ending September 30, 2005.

Liquidity and Capital Resources

Net cash from operations for the three months ending September 30, 2006 was $985,771, as compared to net loss of $(852,790) provided by operations for the three months ending September 30, 2005. This increase was attributable to the consolidation efforts of the Company with the addition of Pitt Penn and the on-going efforts by the Company to extract value out of assets that are on the books of the Company at well below market values.

Net cash (used) by investing activities was $(1,508,870) in the three months ending September 30, 2006 as compared to $(2,174,629) for the three months ending September 30, 2005.

Net cash (used) by operating activities for the three months ending September 30, 2006 was $(947,180), compared to cash used by operating activities for the three months ending September 30, 2005 of $(161,655).

Net cash provided by financing activities was $2,295,389 in the three months ending September 30, 2006 as compared to $2,777,257 for the three months ending September 30, 2005.

[raspi]

I have listen to the updated CC (incl Q&A) and in my opinion IEAM should trade much higher!

It should and it will!!! 

[la-onda]

here we go 

[Stocky2000]

la-onda we are on fire....watch out when we break 3.60 today or monday....not much resistence afterwards

[la-onda]

wow 

hi ket1390,
nice trade so far, have a nice weekend
cheers
Oliver

Industrial Enterprises of America Announces New Independent Auditor
Friday December 8, 3:59 pm ET

NEW YORK, Dec. 8, 2006 (PRIME NEWSWIRE) -- Industrial Enterprises of America, Inc. (OTC BB:IEAM.OB - News), a specialty automotive aftermarket supplier, today announced that the Company has retained De Joya Griffith & Company, LLC as the Company's independent auditors, effective immediately.

De Joya Griffith & Company, LLC will be replacing Beckstead and Watts, LLP (B&W) as Industrial Enterprises of America's independent auditors. B&W's report on the financial statements with respect to the fiscal years ended June 30, 2005 and 2006 contained no adverse opinion. There have been no disagreements with any of the Company's independent auditors to the knowledge of the Company's Board of Directors.

Additional information relating to the change in the Company's independent auditors can be found in a Current Report on Form 8-K which the Company is filing today with the Securities and Exchange Commission.

[buddjas1]

I will be buying a nice chunk on Monday.  The new auditor restores my faith in the company to file timely the 10s with the SEC.  All they need now is to dump the IR firm, which I think will happen.

[raspi]

yes!!! As expected but it makes me very happy anyway $10.000!!!!!

[Stocky2000]

 

[buddjas1]

Got in today at about $4.00.  Looking good; would like to see above 4.50 today.