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"so lots of other banks and lending institution call it an asset based line of credit"
Technically they are both asset based, but the difference is whether it is a tangible or intangible asset, and the benefits of each are dramatically different.
The 50% based on inventory is tangible asset based. The invoices are considered an intangible asset. That is why they are discounted from face value and cost you a higher fee than a traditional asset based LOC.
A true LOC can be spent at will, and at any time. Invoice factoring is only good for a percentage of the invoice value and can only be accessed when you have real invoices on hand.
A credit line is based on your company's assets, while invoice factoring is a cash advance based on the credit worthiness of those who owe you the money.
Make sense?
Spring,
Your last company did not have a $750,000 line of credit. The part that was collateralized by 50% of the inventory is a real line of credit. The 75% is likely the limit of the percentage of accounts receivable they were willing to invoice factor. I'd guess that someone had summed the two and called it a $750k LOC.
Make sense?
Good post.
The answer is probably covered by an NDA! <VBG>
"doesn't matter if it is a loc or invoice factoring or whatever else you want to call it. $1 million is $1 million however you access it."
Absolutely untrue. I'm not sure what to tell you if you don't understand the MAJOR differences.
"They JUST rolled out the new patented product."
- Wrong. Patent pending. A provisional patent at that. $220 and a stamp.
Please stick to the facts, pumping caused the current shareprice crater...
"Why not ask JD?"
Because I KNOW the answer... I've been posting it for weeks! No one wants to believe what I'm saying and if I post an email from JD, they STILL won't. Get it?
Some 3rd party must present this here. Maybe you camelion?
That is invoice factoring, which is not a line of credit, it is like a payday loan. Note the term "credit facility".
I want to hear JD admit it! Someone posted here a while back that he DID admit it to them! Who was that? Please take a bow! No one who is long wants to hear the truth, let alone see it posted here!
"With no increase in A/S and no obvious need for JD to raise funds"
No need? Why did he just sell 2M at $.03?
"I certainly don't know but as many have stated, a large retailer will not be giving it floor space if they do not feel it will be accepted and that is what makes them successful."
- Maybe you should wait to see if a retailer does sign on before buying? I personally don't think they will get one.
Please ask the question, I want to hear to from his lips and publicly... It is one thing to say something for private consumption, it is another thing to state it publicly for the record...
A couple more Hooka...
- How many shares does Southern Candle hold, and have they sold any?
- Does EXPH have a line of credit... not invoice factoring, but a working line of credit? If so, how much for and with what bank?
- What are you getting stock_barber for Xmas this year?
Ok, just kidding about the last one...
Where did he get $800 from in his estimate of the etc. sales price?
Where did the $800 number come from?
How did JD think that he would get $800 for an etc cabinet? He threw this number around repeatedly! Home Depot doesn't even sell any stocked bath cabinet in the price range. What was that price for then? An entire kitchen?
You can already buy a wide array of preassembled cabinets at Lowes for around $200!
White:
http://www.lowes.com/lowes/lkn?action=productDetail&productId=247994-59890-B36.WV.WH&lpage=none
Oak Finished:
http://www.lowes.com/lowes/lkn?action=productDetail&productId=283505-59890-B36.WWR.TS&lpage=none
"You are confusing orders. The Lowes shipments are store fixtures, not the "game changer" cabinet.
Why won't any longs confirm this FACT to put the incorrect information on this board to rest?"
<crickets chirping>
So no one wants to straighten out a fellow long who has his facts wrong?
You are confusing orders. The Lowes shipments are store fixtures, not the Mr. Potato Head "game changer" cabinet.
Why won't any longs confirm this FACT to put the incorrect information on this board to rest?
"EXPO's interchangeable cabinet faces are LOVED by those who matter....SOME OF THE LARGEST RETAILERS IN THE WORLD.
A MULTI MULTI BILLION DOLLAR BUSINESS AND EXPO HAS WHAT THEY WANT AND NEED : )"
Yes, they love it so much that they haven't placed an order yet... I doubt the $12k order is headed for a large retailer, it wouldn't even stock a single large store, IMHO.
"I guess they are shipping 2.5 truckloads to Lowes with no agreement?"
No, they are shipping truckloads of store fixtures to Lowes. This is a totally different, and previously announced, deal.
"He doesn't and he's 100% wrong"
- How can a FACT be 100% wrong exactly? It is a FACT that no announcement of any agreement with Lowes to sell the Mr. Potato Head cabinet has been announced.
"Please dont pass off opinion as fact."
I am ONLY stating facts. If there is an agreement with Lowes, it has not been announced. So, the only "opinion" here, would have to be yours.
"3. Billion dollar client exhibiting and selling new product
for EXPH."
-This statement is not accurate. They have not signed on a large retailer for their "game changer".
"Last I looked EXPH was a Pink and has always been a Pink so all this talk of audited financials is a Paper Tiger.
If at some point they decide to Audit financials and uplist, that's a different story.
Complaining about non filing isn't a true objection since that was the status when everyone bought."
Read the thread again... we were talking about uplisting... actually, that may have been a different thread...
"How many otcbb have financial audits? .
IN otcbb i see thousands stock with nothing real trading more than 100 million cap !!!..."
All of them require an audit! Are you thinking of pink sheets?
The periodic reporting requirements under NASD Rule 6530 require annual audits of an OTCBB issuer's financial statements.
"company is begin buyback shares "
- Then why were they selling 2 days ago?
I'm not waiting for anything...
EXPH needs to make audited filings to give investors something REAL to believe in...
A webcam just doesn't cut it!
Definitely looking like the sub-penny range is a possibility for EXPH again...
"Significant is a serious word"
- "Game Changer" were significant words, too!
"idiots want to sell!!"
- How do you know that they are idiots? Maybe they have information or perspective that you do not? We saw a selloff prior to the "game changer" announcement too...
Shareholders have every right to question the credibility of the company after some of the disappointments of late...
"IF" there are short games going on with the shares, EXPH's best course of action, IMHO, is to get the SEC filings done, get in compliance, and get onto the OTCBB. If I was JD, this would be a high priority of mine irregardless of the short issue.
"Trading at this level is TOTAL BullS---!"
- I agree, I think EXPH should be trading WELL under a penny!
"The advbantage of this product is just that it takes up less floorspace"
That is why they sell so many 100% knocked down (flatpack) cabinets already. How is the EXPH version an improvement on those?
"I do not have a patent number as we are only in a provisional patent pending state."
- PROVISIONAL... all this major hyping of the patent and how much confidence the company had to spend all the money, and it turns out it is just a provisional ($220) filing. A provisional patent is not really a patent, it is a bookmark. It allows you 1 year to file an ACTUAL patent and claim the original date.
FWIW, I think a provisional was the correct route to go, but the excitement and hype that its filing generated was 100% misplaced...
Thanks Hooka.
Sometimes there is no positive spin on reality... you just have to accept it.
"one large retailer chain does $1.7b+- per annum in cabinet revenues"
Do you realize how many different types of "cabinets" they sell? Kitchen, bath, garage, laundry, custom (likely the majority $-wise), utility, flat packed, preassembled, finished, unfinished, etc.
And what is the source of your $1.7B number?
"you do understand it's not *retail* as much
*retailers* and the savings to them that matters :)"
That seems to be the spin that has been taken since obviously this has no consumer appeal. I suggest that you take a look at www.easytoinstall.com and honestly answer me if that site is targeted primarily at builders/contractors/consumers or retailers? I know you've been there, and we both know that it is not retailer geared.
It is clear to me also that this product fails as a consumer product, and ONLY might appeal to a retailer. Why was that fact not clear to Expo when they launched the product?
Additionally, many of (possibly most) of the "take with you" cabinets sold at the big retailers are flat packed "Ikea" style cabinets, which trump the Expo approach for retail space requirements.
And... who is going to be assembling these cabinets while you wait? You can't even get someone to help you in these stores!
And... the premade ones come in protective packaging to help you get it home unmarred. Are we to believe that a sales clerk will open the box, assemble it, and repackage it for you to take home on the spot? Good luck. I do not believe any major retailer will have interest in this...
Where on Earth did JD get $100M from?
Does a large retailer even sell $100M worth of non-special order cabinets a year? Is he banking on getting 100% of the sales? Bath, kitchen, garage, etc.?
This number is so insane, we deserve an explanation!
Charting is useful, I have no issue with general use of charts... However, I think they are about as practical for news driven pink stocks as trying to dial your cell phone wearing mittens.
500M is both buys and sells. And if you believe that much of the share trading volume is phony, 2 million real shares sold at a key inflection point could very well have been what started the ball rolling down hill!
You didn't answer my question...
Did your charts predict yesterday's selloff, or a much higher move?
EXPH is a news driven stock. Charts can't help with that.
"i'm thinking of offering services
to those who need to be tutored on
spotting a good NSS pos in legit
co.s .. wonder if i'll get any takers "
You'd make a mint if they gave you enforcement powers to do something about it!
"just out of curiosity, what do you think is a 'good' website?"
Why iHub of course!