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Makes sense. Maybe Bermuda offers less competition as well.
My opinion is that Builders Choice(now Cima) went bankrupt due to poor workmanship....the finished products could not stand up to those of their competitors...oh well....good thing they have connections to the bank lady....oops....she's no longer at the bank.
The company is NOT a legit investment
It sells products at a net loss
It is swimming in debt yet 'loaned' the 2 principles $400K
UCC's on file have the entire company listed as collateral
It does recurring business with companies resulting in huge losses
It employs people and it's 2 principles live high on the hog
EXPH-the stock is a scam in every sense of the word.
The economy slowing and equipment failures are just 2 examples used by management to explain away a failing business. The fact that the company has survived is due to massive dilution plain and simple.
The company is nowhere near breakeven..and the one physical asset(The shaver street facility) was sold off and the end result is a rent factor going from roughly $5k p/month to a mind blowing $221k+ annual figure. This 'rent' is now circulated through Wilkes Holdings LLC which was an entity born the same time the facility was sold and owned /managed by JD BROWN.
Lowes is still on board and will remain on board as long as Expo is the lowest bidder...which of course leads to massive losses for Expo Holdings.
CIMA has plenty of competition and is a TWICE failed business formerly known as Builders Choice-which still owes the IRS over $120k in back taxes(Withholding tax for the most part). Cabinet manufacturers and installers are not endangered species in Wilkes County North Carolina.
Thanks to the company's lack of transparency we know very little regarding the insiders holdings.
hope this helps.
We know JD is operating on a shoe string.... from all indications JD employs Invoice/receivable factoring in lightning quick fashion.....with that said ....once you cash that receivable with a factoring company ...it no longer is a receivable...and to be clear.....I'm not suggesting that JD and Glenn have ceased helping themselves to the feeding trough...if anything they have given themselves a raise...:).
This way JD and Glenn can indeed clean the balance sheet and get paid all at once.
Sorry veno....no shortage of cabinet makers in wilkes county north carolina.......all sorts of makers of residential cabinets and installers.......here's one that fancies himself as a real 'jack-of-all-trades'..or should i say..'glenn-of-all-trades'
http://harrsremod.com
he builds decks,cabinets,master baths and still finds the time to help run a publicly traded pump and dump...AND he sells tools on ebay... some of these tools could be used to help finish a cabinet ..cool...don't you think?
as for the the numbers you look forward to regarding cima getting back to where they were before.... are you talking about the $100K+ delinquent tax numbers? TIA
No veno....cima has plenty of competition and remember...the CIMA boys have led their business straight into the ground TWICE...yep TWICE......
Expo stayed alive by fleecing unsuspecting buyers of their now nearly worthless shares through MASSIVE dilution plain and simple.
No veno.....Expo is not operating at break even right now.
The noise around mayberry...*er*.... North Wilkesboro... is that JD and Glen have FINALLY, upon...*ahem*....some rather DIRECT and forceful urging, begun to pay the company back the hundreds of thousands of dollars they looted from the till in the form of...*er*....'loans'. Read the latest PR....." $188K is CURRENTLY OWED TO THE COMPANY....:0...."
With 44k cash on hand JD and Glenn will have to continue to pay their 'loans' back to the company or you will see another boost in the A/S.......you do realize JD and company utilize a factoring company....right? So that means the bulk of the 1st Q revenue is already COLLECTED(less the factoring expense of course) and SPENT....and this weeks payroll comes out of the 44k on hand........BRUTAL outlook indeed.....maybe Glen can re-open his ebay store ....or of course he could simply ask the 'banker-lady' for a loan....oops....she's no longer employed by the Bank..right? LOL
Hope this helps out veno....keep up the good work.
Yes...I believe your opinion regarding the ETC website going dark was: "retailers being uploaded".....oops!
Fall of 2010 expo management stated ETC retailer announcement coming soon and 100 retailers by the end of 2010....oops!
JD and Co. received a piece of mail...perhaps today....and since he chose not to share the contents of the piece of mail with his .. *er* .. valued shareholders allow me to share some of the highlights with you.
First of all...the mail was sent from the USPTO.
it included the following gems:
"DOCUMENT DESCRIPTION: NOTICE OF ABANDONMENT
Mail/create date: 04-apr-2011
"The trademark application identified below was abandoned in full....
SERIAL NUMBER: 77821694
MARK: ETC. Easy Transitional Cabinetry."
And remember...the 100 retailers by the end of 2010 statement was made well after the passing of a certain CEO of WW...so suffice it to say that using Mr. Whitworth's death as cover for the latest ETC LIE won't fly. Hope this helps.
Brutal...absolutely BRUTAL. I thought you said JD successfully "launched" the ETC brand???
2010 1st quarter revenue was 179k?? BRUTAL-SQUARED(B-squared) And JD sponsored a race truck 1st quarter 2010..right? LOL
Good heavens.... Did the router break twice?? 2010 revenue could very well be worse than 2009.....BRUTAL.
and this:
"receivables of approximately $188,000 owed to the company."
ahhh....so JD and Glenn have paid down their debt owed to the shareholders of this scam? Maybe glenn and jd are feeling the HEAT??
Much like the logic of wanting the company to take D&D Displays private...following a reverse split of course.... did the board ever get an explanation as to how common shareholders benefit from this?
"JD never mentioned 200 or 300M"
so what?? JD mentioned 100 Million....and ETC crashed before launch...with the end result being JD was 99.9999% off on his revenue projection....nothing new there.
ETC patent application: ABANDONED
ETC Trademark Application: ABANDONED
yet someone posted that ETC was/is the reason EXPO survived and will thrive. Odd...don't you think?
It will be a reverse split ....A/S is nearing its max.
Ollu & company have used this tactic many times. Fake buyout offer....dilute to the limit then massive R/S.
Companies like MRES are 'cross-border' entities and investigating such entities requires cooperation between agencies located in multiple countries.
In June of 2010 the SEC and AMF signed a Memorandum of Understanding which strengthened ties between the AMF and SEC.
The MOU set forth a framework which would help protect investors from fraudulent activity through the exchange of information.
Investigations that cross multiple jurisdictions can be time consuming to say the least. Is MRES on the SEC's "radar"? If the SEC has requested access to information in the AMF's possession regarding MRES or ..... if the AMF has offered up the information without the SEC making a formal request then the answer is yes.
Again, remember....investigations which lead to action take TIME.
A PERFECT example of cross-border cooperation between the AMF and SEC is the case established against Dan Ryan and Penny stock chaser.....the AMF initiated an investigation roughly 3 years BEFORE action was taken.
The SEC is understaffed....so with this in mind I can't help but wonder if anyone has taken the time to notify the SEC of the AMF's concerns relating to MRES. A simple complaint to the SEC .. giving the SEC a heads-up should do the trick. Perhaps someone has already asked the SEC to look into the matter--per the MOU signed by Officials from the SEC and AMF on June 10, 2010 ....
if not....someone SHOULD.
hope this helps
wrong veno...
nice try...the FACT remains any two bit company can fill out an entry form using any figures they wish.....even companies that go BANKRUPT and are faced with 6 figure federal tax liens...you know.....companies like Builders Choice-now known as CIMA.
watchdog?? LOL ...priceless
Do you know what a watchdog is? WOW!
you did notice that the difference between being ranked #1 as opposed to #2....and the difference between #3 and #4...and so on.......didn't you?
careful......watchdogs bite.
and no veno......the criteria is simple....fill out the entry form.....fill in whatever figures float your boat and you are part of the wood 100. do this for us veno...... bring us ONE EXAMPLE of a company making the list without claiming an increase in sales from the previous year...good luck
you do realize that Builders choice went belly-up...don't you?
LOL...to make the wood 100 list all you have to do is fill out an entry form......and claim an increase in revenue from one year to the next...the best part is...you get to fill in the figures!!!
the entrants claiming the biggest spike in earnings on a Percentage basis make the list.
watchdog...LOL....priceless
"I'll trust the industry watchdogs and THEIR figures."
wrong veno...the organization which posts the annual wood 100 is MOST certainly NOT A WATCHDOG....and the FIGURES published do NOT belong to them....the figures are sent by the companies themselves...watchdogs..LOL...priceless.
Fill out an entry form and you too can make the wood 100.
http://woodworkingnetwork.com/wood100entry.aspx
how about this for a subject at hand:
as a shareholder...do you agree with the following statement:
Given the fact that cash is scarce... Glenn and JD should have paid the company back the hundreds of thousands of dollars they took from the company as...ahem...*loans*. Shareholders would have been better served if Glenn and JD had returned this money to it's rightful owner..the company(i.e. shareholders)
i'd suggest responding to my post which laid out in detail Expo's lack of transparency and led to the question posed to you:
Given the obvious lack of transparency and follow through by JD and Co.......how can anyone claim that EXPO is *remarkably transparent"??
4kids....does the statement below make sense to you?
i'd suggest using EXPO's track record of not following through and not filing along with past issued pr's as the benchmark when coming to a conclusion as to whether or not Expo is transparent
Nope....what is actually seen is:
a scam being run out of wilkesboro...and *excuses* being offered up by certain *individuals*....excuses that are designed to enable this share printing scam to continue.
these *excuses* are used to explian away JD and Glenn's failures....to explain away the continued absence of promises made by the company which have not only not come to fruition but have not been addressed by the company in any meaningful manner....the excuses are forwarded by *posters*....not jd and glenn......why?
how can one say EXPO is transparent when they hide behind the non-reporting issuer banner?
since expo and JD do not have to file and they don't....why would *some* claim that EXPO is "remarkably transparent"?? TIA
jd has chosen not to update shareholders regarding information and promises made in PR's.....pink sheet stop sign...etc retailers...board member appointments....ceo being named and so on and so on.....even the false PR announcing ETC in WW franchises.....the last company quote on that was that the company would provide an update to that situation....instead of a company issued update all we get are excuses offered up by a message board *poster*.......
saying EXPO is "remarkably transparent" for a non-reporting-non-filing company ....is akin to saying Charles Manson is a nice enough sort compared to other mass murderers. No?
that post does not address the subject at hand.
the subject at hand is:
*Making excuses* for JD and providing cover.
*Using* a router to excuse ALL unrelated broken promises.
*defending these excuses by stating "call management" when MANAGEMENT did NOT MAKE the excuse in the first place.
it's about taking ownership
nope.....
here allow me to *refresh*...:)
Router used as an excuse to explain EVERYTHING...including the absence of company promised updates such as *new* CEO...etc retailer(s)...new board member appointments and so on and so on.
evil MM's responsible for stock's performance as opposed to JD and Glenn. This excuse is offered up on an hourly basis.
Cash being a scarce commodity yet you do not address the FACT that JD and Glenn LOOTED the company of this same scarce commodity to the tune of $400K....you use cash being scarce to explain why we have not witnessed forms being filed when it has been proven that the cost to file these forms is MINIMAL.
The ETC web site is now GONE....trademark/patent abandoned...why?
your EXCUSE for a dead web site: "the web site is being updated with RETAILERS"...this is YOUR excuse not JD's so please explain and do so NOW.
want more examples? all you have to do is ask.
JD hides behind the non-reporting issuer wall.....which we are reminded daily by certain....er...*individuals*...or *individual*...........he doesn't have to file any of these forms so he doesn't file them....these forms would indeed provide transparency into what jd has TRULY been up to....hence you have not and will not see these forms filed.
no 4kids......some don't find it funny when *posters* provide excuses for JD in order to ENABLE share dumpage.
it comes down to taking ownership of what is posted.
let us review the latest example:
YOU posted that the cost to file form 3's is what is holding JD back from filing these forms. That excuse posted by YOU was quickly addressed by 99leadballoons and blown out of the water.YOU posted the excuse and YOU should address the fact that YOUR excuse does not hold water. Instead of taking ownership of the post you chose to address the situation with the usual: "Call management." Again....management did NOT provide the EXCUSE....YOU DID.
again jerry.....the CONVERSION rate from preferred back to COMMON compared with conversion rate from common to preferred....it's a way to INCREASE holdings with the stroke of pen......many games can be played with these "new" shares.....
LOL!!...CEo interested in "cleaning up his rep".
now that is funny....given the fact that he publicly PROMISED a new CEO in place months ago
stated that WW would be carrying his etc CRAPINETS months ago....which was and IS a LIE!
promised the removal of the stop sign from pink sheets months ago.
promised ETC retailers being announced "soon" Months ago.
the list goes on and on.
JD is not concerned with his reputaion amongst shareholders...he simply is interested in selling shares and employs *others* to make excuses for his...*er*...shortcomings....that is FACT.
wrong 4kids....you explicitly stated that the 100m in revenue projection was sourced through (jd CC 2009).
and since you know we are a full year+ outside of Todd's passing your...ahem...*scenario* does not pass the smell test.
any comment on the etc patent/trademark issue? ...didn't think so.
any comment on the transparency issue regarding jd/glenn's 100 retailers by jan.2011?....didn't think so
any comment on the logic behind claiming Todd's death being the reason WW does not carry ETC..yet no announcement from jd?.. didn't think so.
why would the southern candle boys require shares at a 100%+ discount if they planned on holding long? any comments?...didn't think so.
why would the FAKE southern candle acquisition PR's ensue the deeply discounted shares issued to the SOUTHERN CANDLE BOYS......any comments on that? didn't think so.
if the survival of expo revolved around the *locals* buying shares via PP....why then was the A/S raised by BILLIONS?? Any comment on that? didn't think so...the numbers don't add up.
do you realize that the conversion rate from preferred back to common EXCEEDS the conversion rate from common to preferred? any comment on that? didn't think so.
any comment on the FACT that jd and glenn looted the company till to the tune of 400k+ yet chose to dilute this pig sub triple 0's instead of paying back the money owed to the company? didn't think so.
any comment regarding jd "selling" the ONLY fixed asset(shaver facility) causing a spike in the rent factor equal to 150K+ per YEAR? didn't think so.
want additional examples? didn't think so
etc=dead web site....any comment? didn't think so
jerry...the key being the ratio of preferred shares received per common share......1 preferred for every 10 common....the use of the word "retired" was jd speak.....the shares were converted to preferred.....the ratio which the preferred convert back to common is the KEY here......wanna wager that they converted at a ratio HIGHER than 1 for 10?
you most certainly referenced jd as your source regarding the 100M revenue for etc....it is contained in your post to which i responded. Hint...you stated jd and referenced CC 2009.
i suggest you take the time to read your own post.
you have posted that etc is why expo survived....now that the trademark and patent application have been abandoned it is now....*locals*??? LOL
KM has never been denigrated here.
Southern candle boys cashed in a note payable by obtaining millions of shares at a DEEP-DEEP discount to market value during the conversion.....100% plus discount. Interestingly this all happened as the Southern candle expo holdings acquisition was pr'd...strange...no?
we have all heard about *local* connections and company support here and on OTHER boards ...it's a commonly pumped theme on Pink sheet message boards. I could give you a prime example of another case....but i think *you* are well aware of it. :)
your WW info is absolutely WRONG....and offensive.
speaking of GARBAGE.....
You have posted many many times regarding expo being transparent..
you have posted that expo's level of transparency is impressive to you.....then of course the *electively reporting* caveat is thrown in...LOL
transparency is not all about filings....EXPO gets an F grade in that class.
expo also gets an F grade in history class due to the numerous misleading pr's issued in the PAST.
transparency is also about current events
transparency?
What was JD/Glenn's last public statement regarding ETC ??
didn't it go something like: "retailer annouced soon" and "100 retailers by Jan. 2011". ??
now reality: No retailers...not even 1
patent application abandoned
trademark abandoned
web site is now DEAD.
yet no announcement from your boy jd
just excuses from a MESSAGE BOARD *POSTER*...
and lame excuses do NOT equal transparency..
especially when these lame excuses come from a message board poster providing cover for jd.....
try again.
thanks underdog.....great post and I look forward to the additional posts you plan for Saturday. Sure does paint a very CLEAR picture.
nope....etc was NEVER going into WW franchises.
WW has actually ADDED products since Todd's passing....just not ETC *er*....products.
JD is your source regarding revenue projections?? LOL
the same jd that shouted at the top of his lungs about a landmark $22M project?? LOL....what happened there? Did someone get sick or pass away?
the same jd who .. in DECEMBER of 2009 told shareholders that 6+ million in revenue for 2009 was accurate?
the same jd who sold the shaver street facility causing the rent factor to soar to over 221K per year? Not to mention that shareholders would be holding a free and clear asset(shaver facility) if the 220K annual rent went to paying off the facility.
Instead jd funnels the money for rent through wilkes holdings LLC.
the same jd who along with glenn who have looted the company till to the tune of 400k and they chose to dilute this pig at sub triple 0's instead of simply paying the company back what is owed?
...."your DD is YOURS".....OUCH!
as far as raising capital...jd prefers the public company route....what could possibly be easier than that? TIA
there is no share discrepancy...you are making that part up. sorry for your losses.
when you stated: "ETC was never going to do 10m to 20m in revs on Expo's LOC." You should have left off the "on Expo's LOC" part. It then would read: ETC WAS NEVER GOING TO DO 10M to 20M in revs.....and would be an accurate statement.
I agree...there are no crystal BALLS.....just massive and deep holes which according to some ....could IMPLODE.
AGAIN.....if ETC is the game-changer....why the trademark issue?? LOL
4kids...you say that etc will produce hundreds of millions in revenue...why would a company let a trademark fall into the "Abandoned" column? TIA LOL!!
I have access to locals who think JD and Glenn are crooks.
do your own DD
Nope....again...no address provided..ho hum....
here's the facts: 1 building and thanks to JD 1 HUGE rent payment made payable to wilkes holdings LLC.....case closed.
there is a cost involved...but I agree...it can't be much....the premise behind the program/marketing is company A is featured...Company A covers the production cost by leaning on existing subcontractors/suppliers to ..ahem...'sponsor' through covering the production costs ....The builder in this example is company A..
Cima is the supplier/sub covering a part of the production.
Posting an address ...or two addresses to buildings you claim exist as part of Expo holdings/D&D Displays is not DUE DILIGENCE.......I'll personally show you examples of due diligence after you post the ..*er* addresses....I'll tell you who actually occupies the address in question and I'll also give you contact names and phone numbers to follow up with.
sorry about your losses.
2 failing entities and one that is a figment of JD's imagination.
Builders choice failed twice and is now CIMA..LOL D&D Displays loses money hand over fist...and of course ETC Cabinetry...it never got off the ground...sorry about your losses.
JD BROWN sold the only true asset shareholders had....the shaver street facility......JD created Wilkes Holdings LLC at the time of the shaver street sale....Rent is paid to wilkes holdings...rent is now roughly 20K per month.....rent BEFORE the sale of the shaver street facility and creation of wilkes holdings: roughly 5k per month......OUCH
that proves what we all know......I correctly posted the number of facilities(1).....and I correctly posted that you would NOT post any address other than shaver street. CASE CLOSED.
No 4kids....Wilkes Holdings was CREATED at the same time JD 'sold' the shaver street facility...Wilkes Holdings collects rent from Expo Holdings/ D & D Displays........rent factor went from roughly 5k per month to roughly 20k per month after the sale of the shaver street facility and creation of Wilkes Holdings.
Chickin Investors was formed much, much earlier....2004.
and yes....Info regarding who now owns the shaver street facility is available....the direct tenant is wilkes Holdings LLC...
JD/expo/d&d displays pays Wilkes Holdings.
there are NOT 3 facilities.......there is 1
we'll make this simple.....you say there are 3 facilities...I say there is 1.....You can prove me wrong by posting the addresses of the mystery facilities....you won't because they do NOT EXIST.
waiting patiently while knowing you will NOT post any address other than the shaver street facility.
Can't hardly wait for the ETC site to go back on line...
Thursday should be the day. eom
I remember that as well....I think JD had trouble deciphering the sketch and simply shipped the posters *friend* a doghouse.