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I think the "game changing" relationship could be something big even if it is not released in a PR yet. Maybe the relationship is not at a stage where it can be fully disclosed yet by mutual agreement. The shareholder update yesterday was an olive branch to the shareholders and nothing more than a life boat against the pps sinking further.
I can tell you why I think the PR's are being held up. About 6 months ago EI converted debt to equity with restricted shares. The big loan sharks got shares at around .003 which completely sucks. Family and friends got shares at about .01 which is more reasonable. It's broken down in the 10-Q. I doubt Clint gives a hoot about NAR, but what about family and friends?
When the restriction comes off those "debt to equity" shares I think the PR's will start so the volume will pick up and the friends and family can recoup some or all of their loans at or above .01 if they so desire. Please correct me if I am wrong, but aren't the shares restricted for 6 months? Weren't they issued about 6 months ago? I believe this is at least partially being timed around that event.
If no news comes I believe the pps will likely continue to slowly drift down. If PR's flow again pps could go up fast! Could see an easy double from here in one or two days. How long it will last and how far it will go is anyone's guess. I believe that will depend on the 10-Q's and what this LOC looks like.
Excellent point Don!
That's total BS. Why would a SCAM go through the time and expense of uplisting and becoming fully reporting?
Has management made mistakes...yes, many and it continues.
Is the company struggling to dig out of debt...It appears so
Am I frustrated over the lack of new information...Damn right I am.
Will we recover our investment...I don't know
But, nothing more than a stock selling SCAM...try again!
EI is a real company, selling real products and you know that.
All you do is BASH with the same negative info over and over again. We all get your point. I don't understand why they allow you to keep spamming this board.
What's up with the spread? Who in their right mind would buy with a 23% spread? PPS will keep trickling down until that changes.
Thanks 5*
I realize that...
I thought you were thinking those shares might also be retired now and was just wondering why you thought that? I recognize that you are far better than I at interpreting what is going on.
It would be nice, but was there something unique about the 30 mil trade yesterday that would indicate it was anything but a sell?
Bid was above ask at 140 for quite awhile. Is a short being covered?
This message means U R selling, right?
Mid...Are you happy about the uplist yet?
What does that mean on L2? Is UBSS sitting on a big sell at .014 limit that just won't go through?
This is about the point in time where yesterdays bashers will flip out the shares they bought at .01 or below for a tidy profit. Then maybe we can be done with them.
NITE went from selling at 135 to buying at 135. Bid is building.
NITE says if you want them, come up here and get them!
3 MM's at 134
Need some news to go with the uplist!
I guess MJ wasn't a Dodger's fan. LOL
I think EI shares fault all right...but I sure don't see how anyone can arrive at any kind of conclusion about anyone having any kind of fault from that investor update.
Just sounds like "sour grapes" to me. Or....could someone please tell me where we are in the flipping cycle...lmao
What is there about this quote that isn't already common knowledge, and how do you interpret it as an "admission" to something?
We expect to get a response from FINRA within the typical 10-day timeframe.
TIA
Has it really come down to nit-picking verbs?
Yes, and if every year had 12 10-Q's we should see explosive growth...lol
Some peeps are looking so hard for ways to bash the company they can't look at the 10-Q objectively.
Whatever....
My math shows $126k per quarter = $500k per year.
That is one third of the $1.5m needed for the next twelve months business plan.
I believe EI will come in at more than $500k this year....significantly more.
The 10-Q is a quarterly report, not a monthly. Twelve times the current revenue would be $5m/year...I like that
What is sad to me are peeps that make a living flipping penny stocks and pass judgement over a kid trying to pull off something pretty big in the corporate world but makes some mistakes along the way.
Of course we don't have any of that on this Board...lol
I think it is premature to put the "nails in EI's coffin"...LOL...pun was intended
Stock has sucked this past year and we all know the reasons why. I believe it should recover if the company brings spending in line and shows good revenue growth from here on out without more dilution and toxic financing. We shall see...jury is still out IMO.
Apparently you were wrong about that. Were you under the impression that the restructuring was a calendar year event that ended on 12/31/08?
Didn't the news about the new manufacturing and distribution processes come out very late in 2008. Could it have taken some time for orders to become sales under the new system which might mean a sales lag could spill into the first quarter of 2009? I don't know and I doubt that you know either.
The company laid out a 12 month business plan in the 10-Q that would cost $1.5m. Revenues are one third of that right now but are showing growth. New products were just released to the market. Debt and financing issues exist but sales growth should be measured from this point forward IMO.
Did you read the entire 10-Q? None of us like the current funding deficiency. The focus in 2009 needs to be on improving sales. First quarter 2009 sets the base for me on future sales. What I read in the 10-Q leads me to believe sales growth is coming. I feel the quarterly revenue needs to be 100% higher than it is now by 1st quarter 2010. That will put us at about $1m per year....
Sales increased by $28,497 or approximately 29%, from $97,519 in the three months ended March 31, 2008 to $126,015 for the three months ended March 31, 2009. This increase was primarily because the proceeds from the sales of caskets, which commenced in December 2008, more than offset the decrease in urn sales that occurred in this period, as noted in the table below.
The reason for the decrease in the sales of units of Urns for the three months ended March 31, 2009 when compared to the three months ended March 31, 2008 is a restructuring of the company’s distribution network and the consequent halt in some sales activities during this period.
Why do you only post one side of the information? If it is such a big deal you might have read a little further and you would have also found this...
We are in the process of implementing remediation efforts with respect to the material weaknesses noted above as follows:
(i) in May, 2009, we hired an accountant with U.S. GAAP experience to assist us in recording and the valuation of these types of transactions; and to manage our accounting department.
We believe the foregoing efforts will enable us to improve our internal control over financial reporting. Management is committed to continuing efforts aimed at improving the design adequacy and operational effectiveness of its system of internal controls. The remediation efforts noted above will be subject to our internal control assessment, testing and evaluation process.
Maybe it explains why Parliament went bye bye.
Thanks Lurker...I think we agree here, that the company wants to become successful and transparent.
The problem is that rumors fly in the absence of regular and accurate information. That is a bad thing for ETNL because of its history. It is also something that management has some control over.
I think we deserve an update...TODAY!
EI gets to choose it's independent auditing firm. It's not like the auditor was assigned to EI by the SEC. There should be better communication here.
I've worked directly with independent Auditors before on audits of multi-million dollar budgets. They don't tell you we'll be done by this Friday if it is going to take them two additional weeks. If anything they are conservative in that regard from my experience.
No excuses for EI on the filing of the 10-Q anymore IMO. It seems like they have turned a deaf ear to investors after the 10-K upheaval. Has anyone heard anything with any substance since June 18th?
Agreed on BS, but filing of 10-Q has been in EI auditor's hands now for almost two weeks for review. It's not like it's FINRA's delay anymore. It's in EI's sphere of influence now, unless they are not communicating with their own auditor.
EI gave us an update on 6/15...likely to be filed by end of week. They gave an update on 6/18...in the auditor's hands. Silence ever since...Not a good sign for the contents of the 10-Q IMO. Hope I am wrong. Like many others I'm growing weary of chasing a carrot in a room with the lights turned off, if you know what I mean.
I agree on the bottom being here if the 10-Q is not worse than 10-K was.
What concerns me is why the company said on Monday June 15th that the 10-Q would likely be filed by Friday June 19th. EI has been completely silent ever since. This is one of the things that shakes investor confidence and makes peeps wonder what is coming IMO.
I didn't mean to suggest that it took an "entire" year to revamp the manufacturing and distribution piece.
The point I was trying to convey was that the 19% reduction in sales for 2008 was not that big of a surprise to me. If it happens again in 2009 than I agree we have a serious problem on our hands. If sales don't double in 2009 we have a serious problem on our hands...all IMO.
What troubles me is why the delay with the 1st quarter 2009 financials without explanation.
Mid...What is 19% of $400k in the second year of a start-up company that is shooting for multi-million earnings.
I can't believe how fixated people are on the 19% under these circumstances. When you bought in didn't you expect that it would cost millions to negotiate and maintain these licenses, design the products, secure the patents, pay the officers, etc. I know, I know...I'm not thrilled about the salaries and car leases either.
But the point is everyone should have realized this would not be an inxpensive venture. I read somewhere that the cost with the SEC alone were $700k plus. 2008 was announced as a reorganization year, company said that the emphasis in 2008 would be on things other than sales. I was a little disappointed the 2008 earnings were down, but I was certainly was surprised. Hopefully we will have the 1st quarter 2009 soon and with the new controller the 2nd quarter not long after.
I will say that I am very disappointed and concerned that the 1st quarter 2009 did not come out last week as stated, and here we are a week later with no update. It shakes investor confidence. Explains the sub-penny action.
LC, Would you call this a truthful statement...
"THEY ISSUED THEMSELVES (OFFICIERS) OVER $4,000,000.00 IN BONUSES JUST THIS YEAR."
(1) Was it in dollars, or was it in restricted shares?
(2) Were the shares sold for $4m or were they held by the officers?
(3) If held, are the shares worth $4m today?
(4) Was the bonus this year or last year?
(5) Are the $4m+ in annual losses real losses or paper losses from the transfer of the stock?
I get your drift that you are unhappy with the management, I have some issues myself. But before you label others as a LIAR you should make sure that you too are honestly presenting the facts.
I thought you were stating the obvious with that part. But it is always a good reminder!
I was just trying to introduce a little humor after the trauma caused by that 10-K.
Thanks dff
I second that dff. The forums ARE fun once you start to understand the different trading personalities. In 2007 I decided for the first time to throw a little change into the market at a start-up and see what happened in 5 to 10 years. I researched all the pinkie websites I could find for a few months and in the end EI was the one I chose. Totally based on the idea, thought it was genius. Had no idea what A/S was, didn't care, just gambling to me. The PR's were sounding real good in 2007.
I found IHUB about a year ago and checked it once in awhile. When the SEC approval came I decided to explore "trading" and started reading the ETNL Board almost everyday. Never paid attention to the other boards so it took me awhile to catch on. I have almost figured out all of the different trading personalities.
The "Quiet Investor" - Reads all the time, rarely posts, makes unemotional business decisions.
The "Long"...looking for steady growth, always excited about good company news, discusses bad company news but looks for positive aspects, most but not all are easily annoyed by "Flippers"..
The "Flipper"...May work alone or in teams, looks for opportunities to trade pinkie penny stocks by taking maximum advantage of the naturally occuring high percentage peaks and dips in pps. As TLV once put it so well..."If I M On 24/7 Telling You 2 Buy (i will sell), If I M On 24/7 Bashing (i will buy), If We Have A Run & I Do Not Post, I M Selling, This Is A Gagged Pink Stock."
The "Rebounder"...Really a "Long", but becomes a "Flipper" when the company releases bad news on the eve of a full moon. Becomes a "Long" again when the effects of the bad news wears off and the full moon goes away.
The "Nibbler"...A "Long" that likes to guietly flip a few on the side here and there.
The "Day Trader"...A combination of "Quiet Investor" and "Flipper" that always sells off by Friday.
The "Gambler"...What I was in 2007 when I bought my first shares. May morph into any of the other trading personalities. A favorite target of "Flippers".
The "Newbie"...What I was in Dec 2008 when I registered with IHUB and made my 2nd purchase of ETNL, another favorite target of "Flippers".
The "Bummer"...A former "Long" that has lost most if not all of their investment, and most if not all of their hope in the company, but hangs on to the stock anyway.
The "Balancer"...Claims to protect "Newbies" and others from the glow coming off the "Longs" by providing a dose of bitter medicine. Suspected by the "Longs" of being a "Flipper" in disguise peddling snake oil.
Did I miss any? Each has their own methodology for trading and is allowed to use this board for their own personal interests. As the great Rodney King once said "Can't we all just get along?" LMAO...Lurker get your ask back in here!
I think it is far from a shell game unless you are thinking that the uplist will never happen. If that is what you are thinking I believe you will end up being wrong.
It is more like dangling a carrot...meaning that the impression is given that it is going to happen sooner than it actually does. If that is what you are suggesting then I completely agree that the company has had a habit of being a bit optimistic with timelines much to the dislike of shareholders.
Other than that all I see is regular communication with shareholders on the progress of the filing, which is something that I very much appreciate and hope continues in the future.
Here's hoping that we are filed and uplisted by tomorrow, although personnaly I would prefer Monday morning over Friday afternoon.
Could be any or all. Emerald is likely selling as fast they are allowed to. They declared their intent and valued their shares at .01 on 4/1/09. Seems like .01 has been the bottom ever since.
Planned sales filed by an insider on a SEC Form 144
Name EMERALD ASSET ADVISORS L L C (NAR Affiliate)
Title Unknown
Proposed Date 04/01/09
Quantity 36 Mil
Value $355,000.00