Eagle Worldwide Inc.(fka ELWD)

[CoolHandLucas]

MY QUESTION:

I spent some time going through the press releases and quarterly reports and I have one question that I want asked. Let me give a little background on my question then my question will be at the end in bold. My assessment regarding this may be wrong because it required going through multiple reports (please check my math), but this is my best attempt.

The authorized share count is currently 10B. In the quarterly report released 9/13/2006, you can verify that in the past there has been a reverse split of 1000:1 followed by a forward split of 1:50. Thus, with the current 10B authorized shares, the following A/S existed before and after the splits:

Before 1:50 F/S to 10B, the A/S was 200M. 100M of previously unissued stock was issued to buy Chexcard and Mybankcard.

If my math is correct, at this point, the O/S share count owned by the sellers of Chexcard & MyBankCard was 100M (half the O/S).

After issuing half the O/S to Chexcard & MyBankCard, there was a 1:50 F/S. The A/S became 10B and the number of shares owned by Chexcard & MyBankCard was 5B (half the O/S).

Chexcard was sold on 4/1/2006 and the Company reaquired 2B shares.

If my math is correct, on 4/2/2006 the O/S share count owned by the sellers of MyBankCard was 3B (30% the O/S).

My question:

1. Who owns the 3B shares (30% of the O/S) issued to the sellers of MyBankCard, and can these shares be traded or are they restricted shares?