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I'll bet you my LUNGS that Withum would certify that yes, JBII owns media credits, and that doesn't disagree with the 10K.
For the same reason that they would say that they technically own the grease that they put into the machine the last time they maintained it. However they expense that grease towards operations because once it goes into the machine it is no longer a raw material on the shelf it is basically worthless.
Want to run around and claim that JBII has tons of off balance sheet assets because they still have grease in the machines and paperclips in the drawers?
Much easier and cheaper for Withum to say "$0.00"
It was easier to say zero because then they didnt look like they got swindled. If they put 200k then people would know that the company just puked 800k down the toilet.
This way people can still try and make outlandish claims that they are still worth lots of money.
I say give it to the driver that crashed the truck. I bet he is just as qualified as any of the baboons they have now running the joint.
He probably wouldnt take out advances and never pay them back.
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements.
There you go again, disagreeing with them.
They are still valuable.
Obviously the accountant disagrees with you, lmao.
You are kidding right???
You guys are trying to paint accounting as some random guessing art form instead of being what it is.
They don't just decide to write down assets because they feel like it on a whim. They write down assets that are WORTH LESS THAN WHAT THEY ARE LISTED AS.
Obviously they felt 10 million dollars was absolutely ridiculous. They realized that these media credits were pretty much trash so they wrote them down and charged 1 million to operations because that is what they spent via stock.
By writing it all off to operations and washing their hands with it they can have their touts try and help them save face. Some people will buy the spin.
The bottom line here is that these credits are worth a tiny fraction of what was declared and may actually be worthless when it is all said and done.
And also, JBII has $23M in Stockholder's Equity. Not many companies in the OTC can even come CLOSE to making that statement:
Total Stockholder's Equity
22,946,908
Can I get an update on this?
It is sad that investors would prefer a guy that works the aisles at lowes to be the CEO over JD Brown or GH.
Just goes to show how bad mgmt really is.
Like I said..visit a store close to you and report back your findings
Already did 5 months ago. Playing catch up is not a smart way to invest bud.
Sorry that EXPH has dropped so much since many bought shares. Must suck to know that mgmt has screwed so many out of so much.
Oh well, hopefully someday they can actually become a legit company. I sincerely doubt it though.
Have we seen the new CEO yet? Err. I mean newest CEO after GH. Have we found out why there always seem to only be two investors on the form d's?
Have JD and GH paid back the money they pilfered yet? You know the 400k in "loans" that they have basically stolen.
I wonder how much they have profited by dumping shares too.
I hope your lowes "friend" gets the CEO job.
This story of yours just gets better and better. Now he is an avid race fan, lol. Monday he will be buying 20,000,000 shares. Tuesday he will be applying for the new CEO position.
I love how you keep trying to refute EXPH's own shareholder video.
Expo (via DD) makes plastic, foam, glass, wood, and metal displays. They also make crapinets that so far not a single distributor has wanted to buy.
They also spent over 100,000 dollars for a mosquito product that nobody wanted to buy.
Did this expert employee show you the six plastic stanley hardware display inserts?
I posted pics of them back in february. Nowhere near 200 bucks a piece.
If they were 200 bucks each, Expo wouldnt have to be a diluting pig.
Obviously you need to read the 10K better because I'm using numbers Withum provided.
No. You arent. They state immediate before the numbers and immediately after them that you are incorrect.
Sorry.
Just pointing out flaw in the logic of they just get these displays with a packing slip and have no idea where it came from or how much they cost.
The stores dont order their displays from DD direct. They order from a distribution point at Lowes. Each lowes display has a sku on it that lowes dictates and requires the display manufacturer to place on it.
When a lowes display breaks or needs to be replaced for another reason they simply scan the sku and submit their order to the lowes distribution center, not to the display manufacturer.
Any reason why you keep choosing to try and use the unaudited disclaimered pro forma numbers instead of the actual real numbers?
I prefer to use numbers that have actually been signed off on and are audited, but I guess others are different.
actual real numbers taken from the 10k, not made up ones...
Cash from old.
4,059,123
Cash+Escrow Cash from new.
26,307+3,123,595
Thats a big reduction.
They certified ZERO CHANGE in the full year 2009 sales and net income reported by Javaco & PAKIT businesses for the full year.
No they didnt. It stated very clearly that those numbers were unaudited. And put two disclaimers, lol.
Certified means something different to you I guess, lol.
All non-cash one-time stuff everybody was expecting while ZERO changes in pro-forma sales, pro-forma income, and cash actually went UP!
Pro forma is nothing more than management guessing. The simple fact is that the audited financials changed drastically. Like it or not, that is what happened.
How do you figure cash went up???
4,059,123 vs 26,307+3,123,595
Are we looking at different statements?
Are you referring to the unaudtied pro forma statements?
That's cute.
The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the acquisition been consummated as of that time, nor is it intended to be a projection of future results.
Nah, it was all non-cash
Please be so kind as to post the numbers that are the same from the new statement and the old satement regarding cash.
net income/loss completely unchanged
Please post the numbers for net income from one statement to the next.
Please post the revenue numbers too.
Apparently the ones I am reading are different than yours.
I look forward to posted info that provides us with current DD or something other then enuendos! We all look forward to your posts knowing that they will provide us with some type of CURRENT DD eventually!
Looks like the restatements were pretty major. I guess my innuendos were pretty correct after all.
You are incorrect.
Look at the banner. You see the hexagon next to where it says tool world? That is their logo. It has a small TWD inside of it.
The tool world sign is for tool world distributors out of North Carolina.
They are out of business.
Look at the displays. Look at the tools. See any Kobalt tools??? See the massive selection of Delta saws? See the way the prices are written. Go to lowes site and tell me how many delta saws you find.
Nice try.
It's dilution
That's the EXPH way.
JD and GH are getting fat on the common man. It's a shame.
I will help you out..
Go to D&D's website..this link..
www.dddisplays.com/galleries.htm
Look at the pictures in the display section pictures 12 to 19 and then go to LOWES in the tool section and snap all the photos you care to..Or you could also just take itraders word for it..
I will help you out. Those pictures aren't from Lowe's. lmao.
Do some DD.
clue: this company is now out of business.
How can you say spending increased 3.5% in 2010 when 2010 isnt even over yet?
Based on that 2008 article?
That is like taking a EXPH PR seriously.
Potential homeowners with offers currently under contract now have until September 30 to close the deal, instead of the original June 30 deadline
Not going to make a big difference.
nice find???
The tax credit ended already, lol.
It is worth repeating ..... seven days ago management stated for the umpteenth time in a personal sit-down that neither Glenn nor JD have sold any of their shares.
Do you ever ask them why they keep repeating it over and over but refuse to publish their holdings?
It's like playing poker with a guy that wants to take the pot because he swears over and over he has a royal flush in his hand, but he refuses to show it and wants everybody to just trust him. He will waste time arguing over and over with every player and promise to every one of them even though it would take less time to just show the hand.
The ONLY reason somebody would go through all of that effort would be if they didn't have a royal flush in their hand.
you are never going to see .0005 ever again after today. Mark this post
Need a mulligan?
Hey sharkbite. I am just a lurker. Enjoy the site.
Running a viable, profitable, publicly traded company is not a game, imo.
Couldn't agree more. Show me a consistently viable and profitable stock that has a PPS in trips and you will have found a unicorn.
My question is....IF THIS COMPANY AND CEO IS A SCAM.....WHY NOT LET 9/1/2010 PROVE IT.....WHY ALL THE DRAMA TAKING PLACE NOW? SOME HERE HAVE SCREAMED FOR FULL REPORTING AND NOW BASED ON THE BELOW PR....ALL WILL B KNOWN BY 9/1/2010....60 DAYS...THEY ARE GETTING THEIR WISH BUT STILL SCREAMNG FOUL....WHY????
Because all that would do is buy JD two months of free scam time. September 1st has already become September 15. Then remember the SH meeting last year that was supposed to provide all this clarity??? Oooops. Never happened.
None of it ever happens. The PR's never come true. The demos never happen. The filings are never current. The retail outlet is never opened. The distributor is never landed. The big contracts never happen.
I might be all wet but I don't believe they stated "Tractor Trailers'.... all I recall is truckloads. I own a truck too, so I take that stuff with a grain of salt until the Pr's become clear... as they should be to start with.
http://www.marketwire.com/press-release/Expo-Holdings-Inc-Ships-Ahead-of-Schedule-1204921.htm
Currently, the company is producing approximately 2.5 truckloads per day (53ft trailers) and will continue to do so for the foreseeable future into 2010
Simple.
In case you haven't heard, they filed with the SEC that fins were going to be restated.
Now I am sure you would love to stop by the place and make up some stories to try and cover all of that up, but you can't.
#2 sell indicator now present. Last stock that #1 and #2 appeared on the same scan it tanked over 95%.
One would presume that if you had that much raw materials on hand you'd have to do some heavy product building and inventory turning.
Remember when they claimed they were shipping 2.5 a day to lowes in addition to their other business? That would have been some pretty sweet inventory turning and sales right?
Yet here we are with almost 100% dilution since then...
The simple answer is usually the correct one.
What I saw in feb. was no scam partner. What I witnessed a few days ago warmed my heart if you want the truth.You can laugh at that, , I don't mind at all and would probably laugh right along with you.
What you saw was what everybody already knows. I am sick and tired of people thinking that because they actually make products that they are immune from being a pump and dump.
It's hogwash. Wake up people.
This isn't a startup company. It isn't a brand new venture that just went public. The trail of lies in order to sell shares is long and documented. The abuse of funds by the company officers is right in their filings. It is their playground.
Or we can believe some crazy conspiracy that comes from outer space.
I love the deja vu with picking September 15th, lol.
Will he be able to sucker people again? Will he be able to build a big run up to allow for massive share dumping?
Sometimes in this world the answer is so simple and so obvious, but people just don't want it to be true.
This is, and always has been, a pump and dump. The amazing excuses and conspiracies that I have seen fabricated to make Expo Holdings look like some poor victim of a vast criminal enterprise are hilarious.
When a company sends out press release after press release (over 50 in one year) and follows it up with nothing more than dilution on the heels of massive share dumping, it is clear as day exactly what happened. Don't let people fool you.
It's a scam. JD is a liar. It has been proven over and over that JD lies all the time. Why make excuses for it and hunt for explanations. Just accept it.
Quit trying to spin.
Expo works with plastic. Deal with it. You are using classic JD speak and trying to argue because today they are using wood therefore it is always wood.
Their own shareholder video shows the machine that cuts plastic and foam.
If they just paid back the loans... they could buy several spray booths and have plenty left over to buy the materials for product ramp up! Am I missing something?
You arent missing anything. If JD and GH would simply pay back the money they owe the company, they would barely have had to dilute.
400,000 bucks goes a long way.
Although it is quite obvious why things have played out the way they have.
Notice how these discounted shares are still only going to TWO investors.
Hmmmmm......
So why do they put false pictures on their website????
Ut oh. More lies from the company. Sheesh. Good catch veno.