Parkit Enterprises (PKT-X)

Acquiring parking lots in the US, not in Canada. They have a couple and are doing quite well. A real estate producing cash flow, so they go up in value. Just signed a deal with a US partner to fund them, so they now have a lot of capital to make more acquisitions. Thinks they’re going to do quite well.

They have parking lots in the US. They are profitable, but very small. They need to raise funds to buy more parking lots. When they do, the stocks should pop. There may be a snag in getting financing. They are wonderful parking lots. They acquire parking lots early, develop them and get the cash flows higher and then sell them off to pension funds and institutions. It is an M&A real estate play.

Took part in a private placement a few months ago, and the stock has done very well since then. They will be acquiring parking lots in the US, which have pretty nice cash flow yield. They put little bit of money into them, improve the cash flows, run them for a few years and then they are going to sell them. Again you have US$ dominated revenues which help a lot. Management buys stocks almost every week. He is very confident in this one.