Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
rjbluesky,
From this site with Nevada Corporate dissolution law:
http://lawdigest.uslegal.com/corporations/corporate-dissolution/3979/
Second, if stock has been issued by the corporation, or if the corporation has begun in business, then the Board of Directors may pass a resolution that the corporation should be dissolved. If the corporation has issued no stock, then only the directors need to approve the resolution. If stock has been issued, then the resolution must be recommended to the shareholders by the Board. The stockholders must be notified each shareholder entitled to vote of a special meeting to consider the resolution to dissolve. The shareholders must approve the resolution by majority vote (or such other vote as the By-Laws might require).
I'm not sure if "issued no stock" is the same as the stock being transfered via merger to another entity, but your suggestions from #2 and #3 could explain why the resolution to dissolve was not recommended to the shareholders by the board. A recommendation to shareholders appears to be necessary for a Nevada corporation that has issued stock to dissolve. Is there another possible way to dissolve without including shareholders in the decision?
parlizzles added thizzay eternal image expects ta fizzy tha fizzy 10sb soon. sometime cracka once it has been reviewed n has cleared comments by tha sec, tha company expects ta be approved fo` hatin' on tha otc bulletin board.
"That can be taken another way as things that were NOT supposed to happen doesn't mean they won't...lol"
I thought that exact same thing after I posted my message. hehe. Expecting anything is certainly applicable here.
I had a similarly worrisome count going with my girlfriend last month...
just kidding :)
If we have learned anything as EI investors its that just because something that is supposed to happen hasn't happened yet, it doesn't mean it won't.
I think if flippers can hold on and get this to close over or at 25 on whatever news and solid volume it will signal the start of an uptrend. I could see it falling back to around 18-2 and then making new highs and higher lows until 5 or 6 even before/without uplist.
Uplisting I think will be wild ups and downs too. Part of it will depend on how much of a "surprise" it is. I think its better if we don't get anymore target dates beforehand (most of us can agree). Just hit us with the news when it happens! More people will be chasing this way and there won't be an anticipation runup and sell-off.
There definitely is potential for big sales numbers this year and I still plan to do an in-depth analysis of EI and the stock at the eoy to evaluate the future of my investment either way.
I'm still hopeful that there will be good news coming on the international front later this year as well.
But especially when the pps is lower and not actively falling sharply due to major selling, it is an attractive time to add to and create positions.
Any big buyers of a stock like ETNL right now will have to do it in pieces over time or they'd have to pay a premium for shares. They'd also have to do it BEFORE big news that incites big retail buying. The other option would be stepping up and supporting the bid when it looks like there are some big sellers looking to get out of their positions - which seems like it may be happening around the .016 area but I haven't been watching closely enough to know for sure.
I've been picking up a little here and there to add to my pile.
I have a feeling the worst news (and sentiment) is behind us and it appears the stock has stabilized some in this range. This should mean that some good news this summer will spark a new rally that will pay off for those who are patient.
It will be interesting to see some sales numbers, but I don't think that they will tell the whole story just yet. The company is still building on the items available for sale and adding new products will add bigger numbers for future sales. EI is still in the baby stages of revenue generation.
Cheers to everyone
Looks like yesterday may have been the start of a move up.
If we can close around .025 by the end of this week I think the downtrend will be over, especially given the real possibility of more news to come.
Though I think we could have heard updates on these issues sooner, yesterday's update was nice enough to hopefully alleviate some of the concerns that have been growing with the lack of news.
Cheers!
EH
Indeed, it is a lack of communication which unfortunately equals a lack of progress to everyday investors and traders.
My guess is that things are progressing, now we just need EI to share with us how much and in what ways
SuperBee -
Hey I don't come here often anymore and I let my pay account expire so I can't return your PM that way.
Anyway, I believe I told you that I sold a small portion of my shares around the time of the RS announcement. I saw it as a potentially negative influence on the short-term pps and since I was practically "all in" I didn't want to suffer completely in a worse case drawdown scenario.
Since then I have not been selling, and actually only checking pps on a weekly basis.
The lack of progress has been frustrating but I still believe in the potential of Eternal Image to succeed on a large scale. I don't plan to buy or sell any shares unless pertinent new info is available or perhaps when I plan to seriously re-examine the status of the company and my position in the stock at the end of the year.
So to sum it up, I don't know who has been selling recently, and have had a much better demeanor (less stress!) since I stopped following the daily trading so closely.
Hope you and the rest of the gang are hanging in there. I think the Eternal Image Ride is still far from over.
Cheers!
EH
Investing is much different than buying lottery tickets because the odds for success vary based on numerous factors.
I'm not sure what the statistics are and i didn't say that they would throw money into something they didn't feel was worth it. There is a difference between doing that and researching to find potential in a unique and new company that could be worth several times what it is worth currently.
If you invest 1million it is different than a firm who has hundreds of millions or billions to invest.
I don't really know what the short-term pps will do either.
But if EI truly has the potential that many of us think it does, I wouldn't discount the idea someone with more money to invest than any of us might see that and act on it.
Because one million in one or two OTCBB stocks could be less than .5% of your portfolio. If research tells you that you can make 1000-2000% return with that part of your portfolio, it could be worth the risk. Also, as "real stocks" start to show signs of slowing due to market downturn, big boys tend to take profits out of those "real stocks" and find other opportunities for investment...including higher volatility stocks like OTCBB...
Thanks JP for that clarification. Makes some of what I said previously invalid.
Exactly - investors were caught by surprise (I know, you "wise" investors all KNEW it was coming, congrats).
Now it is up to EI to make up for the surprise by showing us good revenues.
Reducing it now, a day later than they "should have," preserves some faith for some investors. Yes.
They left the option open by not reducing it more now, but it doesn't mean that they plan to use all of the A/S available.
It would be much more foolish, in my opinion, to reduce the A/S too far, and then have to increase it later if necessary.
Thanks for the clarification on that.
Perhaps that will allow EI to do enough financing before uplisting to get through the year with restricted shares only.
It at least opens up more options in that regard.
That is what the numbers say at this point.
How they approach financing moving forward is still yet to be determined.
I think there is a new SEC rule that non-reporting companies can only sell restricted shares (one year limit) that takes effect in February, so that would keep the shares from being "dumped."
(I could be wrong about this though)
I think the AS reduction announced today does help preserve some "good faith" that they may have lost initially with the RS ordeal.
Are you stating that the A/S number wasn't included in the RS?
That is correct, so 4billion/20 is a pre-RS number of 200million shares retired, right?
It ain't nothing, but it sure does sound better as 4billion...
that's how i see it right now, but I always leave the door open for pleasant surprises.
I read it like this...
Here it is the current OS - 169,975,072
Holders
As of January 15, 2008, we have 169,975,072 (post Reverse Split) shares of our common stock issued and outstanding. As of that date, our shares of common stock were held by approximately 2900 shareholders of record. This does not include an indeterminate number of beneficial owners of securities whose shares are held in the names of various dealers and clearing agencies.
After this registration (part of the SB-2) for the conversion of debt to shares which will be 54,452,940 shares added to the 169,975,072. Add those two numbers and you get 224,428,012, which is the number listed in the SB-2.
The Offering
Securities offered by North Atlantic Resources, Limited*
Up to 54,452,940 shares of our common stock that are currently outstanding.
Shares Outstanding
224,428,012 shares of common stock.
Use of Proceeds
We will not receive any proceeds from the sale of shares by the selling shareholder in this offering.
Risk Factors
An investment in our common stock involves a high degree of risk and could result in a loss of your entire investment.
Indeed. The big question now is what happens next, and what will be the "reason"...???
Don't know about A/S and preferred.
Looks like the O/S will be the 169mill+54mill after this filing
"We have filed this registration statement in connection with the shares of our common stock underlying the October 10, 2007 $650,000 Convertible Promissory Note that we issued to North Atlantic Resources, Limited (the “North Atlantic Note”). We had agreed with the lender, North Atlantic, to give it the option to have the shares into which the loan can be converted covered by a registration statement filed with the US Securities and Exchange Commission. In addition, the North Atlantic Note provides: for interest of 20% per annum, an option to convert up to the principal amount plus accrued interest into shares of common stock at the rate of one share for every $.002 of principal and accrued interest annum being converted, and a due date of principal and all interest of February 28, 2008. On December 17, 2007, the lender, North Atlantic, exercised its option to convert the principal and interest into shares of our common stock. The total amount of the principal and accrued interest on the conversion date was $680,908.00 which was converted into to 54,452,940 shares of our common stock which is being registered in the registration statement of which this prospectus is a part."
Yep. I think you could very well be right.
In fact, a quick search online of Michael Xirinachs doesn't give me much confidence in his character.
Now it looks like he has 50+mill shares to sell...
i might need the weekend to get through it all...and those drinks too
Cool. We have filed for uplisting.
Now we should all be reading the filings. I'm starting now.
Cheers.
http://www.sec.gov/Archives/edgar/data/868756/000105291808000038/0001052918-08-000038-index.htm
You should not be attacked for anything EI does.
They did in fact say many times that a RS was not part of their plans. Obviously those plans change.
wow.
this is surprising.
even if i wanted to sell my shares there wouldn't be enough buyers.
not really sure what to do, but i do think there will be an opportunity for new buyers to make out well eventually depending on how low the pps falls after the RS. it will go up in time, the question now is how low will it go before that time...
aye, this is not very good news.
Haha, are you subtly referring to timothy sykes?
Anyway, nice to see some new faces being such excited supporters around here.
To everyone that thanked me for posting the email in my last post - no problem! It wasn't much but at least a little reassuring. I've been thankful for much of the work this board has done to uncover new information regarding ETIM.
Sharing is caring.
Hope everyone is having a great new year
Mine will be as great as ETIM's is, so i'm thinking it'll be pretty good.
Hello all. I emailed Tony just to check in on some things this morning and he responded quickly and positively. Here is his reply for those interested. These things may laready have been covered, but I haven't been able to check on the board much lately.
Cheers!
Hello Chris:
Happy New Year and thanks for your continuing support.
I have replied below and hope this is helpful,
Best Regards,
Tony Fazio
-------------- Original message ----------------------
From: "C.V. KXXXXX" <cvXXXXX@yahoo.com>
> Greetings Tony!
>
> I'm an Eternal Image Investor and I just wanted to ask
> a couple of quick questions.
>
> Last year was a great year for EI considering how many
> important building blocks (EI Europe, new
> partnerships, the trade show, new licenses...) that
> have been put in place. Is there a Conference Call
> being planned for the near future so we can discuss
> some of those building blocks and how they are
> progressing and translating into more sales for EI?
>
> Yes, we are planning to schedule a conference call in the very near
future.
Also, is the application for uplisting near
> completion? Is it still a priority for EI to be listed
> on the OTCBB?
>
>Yes, this is still a priority issue and the associated paperwork is
still in the
final review status. We anticipate completion and uplisting application
in
the very near future.
And lastly, will we be receiving quarterly updates of
> sales figures?
>
>We anticipate a positive 4th quarter update and have full confidence
in
our newly appointed National Sales Director to generate sales and
Corporate
identity in the New Year!
Thanks in advance,
> Chris
I'm sorry you did not receive a welcome, and your suggestion is an interesting one that is worth consideration. (I think it would have worked out better if he was still on the show, though, just my opinion)
You have only lost if you sell. Have you sold all of your stock?
In any case, this message board has become ridiculously full of attacks and snide comments resulting from the frustration of shareholders seeing their account balances dwindle, as well as the, "I told you so's" who "predicted" a lower PPS who are now rubbing it in their faces.
There is much to discuss about the current ETIM and its future - which is still much intact. It is my hope that we will receive an announcement for a CC very soon so we can get some answers from the company, allowing for more fruitful discussion. For now, I think there are better places for most of us to voice our frustrations and "gloat" in our "victories." And for that reason, i'm staying away from this board as much as possible.
As always, best of luck to everyone. Cheers.
I think this is actually a pretty nice gift of discounted shares for those who believe in the future of Eternal Image.
I probably won't have any real cash to invest until next year, and I doubt this opportunity will still be around then. Good thing I have enough.
Indeed. You were correct about these numbers being bad.
Unfortunately there were some delays, which reasonably, SHOULD BE EXPECTED for any new company.
I wouldn't blame anyone for selling if they feel they need to preserve capital in the short-term and are concerned by the downward price trend, but there is no doubt in my mind that the pps will be in the cents by eoy 08.
Consider the number of product lines that aren't even available for sale yet.
Consider the uplisting.
Consider the buyback.
Consider the new licenses that could be added.
Consider the word of mouth that will continue to spread about the products throughout the industry and the public and how it will improve sales.
Personally, I will keep my shares of etim until they have either proven to be a failure as a company...or a success. I realize success doesn't come overnight, though I'm sure we all thought it would because we believe in the potential and the uniqueness of Eternal Image. None of that has changed for me.
Good luck to everyone, long, short, and gone.
Cheers!
EH
No good reason.
At least he didn't say Bambi...
That is so wrong, yet so funny. It must be Friday. haha.
LOL. I'm sure the kids will love it!
That is interesting. A Disney castle-urn would be awesome!
If anything it shows that the possibilities are pretty endless for ETIM. People have a variety of passions and are happy and willing to carry those with them after death.
Might take some of the fun out of the Disneyland experience.
Do we need a license
with Disney?!?!
Check this out...
ANAHEIM, Calif. — Disneyland officials will likely never know whether the woman who sprinkled some sort of powder onto the "Pirates of the Caribbean" ride was trying to send a loved one straight to Davy Jones' locker.
Disney officials shut the ride down for about 45 minutes Friday after they saw the woman sprinkle something into the ride's water. But they said they couldn't determine what it was because it dissolved so quickly.
Blogger and longtime Disneyland watcher Al Lutz said he received several tips indicating it was human ashes.
Disneyland Resorts spokesman Rob Doughty said he couldn't confirm that. He said the rider, who was not arrested, told park employees she had dumped baby powder over the side of a "Pirates" boat.
Lutz, who first reported the event Tuesday on his Web site miceage.com, said more and more people are leaving their loved ones' ashes behind at Disneyland.
"It used to happen every once in a while at the Haunted Mansion, but now it's happening more," he said.
Without written permission, it's a misdemeanor violation of the state Health and Safety Code to scatter human ashes on private property, but enforcement is difficult. Officials say the ashes pose no health threat.
"I can tell you that we do get people from time to time asking for permission to sprinkle ashes. Our policy is when we are asked for permission, we deny the request," Doughty said. "Beyond that, we don't know."
as i understand it, the share buyback program is open-ended. i think they intend to exhaust that option for cleaning up the share structure first.