Email from James Shipley, Dec 20,2001....
Here is a complete and unedited response to my request for information from the company.
I am in receipt of your e-mail dated 12/19/01, and want to thank you for your interest in EMB. I will also attempt to answer your questions to the best of my ability.
1. Press Releases: I do not have an archive of the press releases from the past. When we took the company back over in August, we only have what has been published since that time. If you have the past six months of press releases, you probably have more than we do at this time.
2. Reverse Split: When new management took over EMB in 2000, they did a reverse of 1 for 15. That is accurate number.
3. Stock Dividend: The stock dividend was 1 share of ENNT for each 4 shares of EMBI that a shareholder owned on March 31, 2000. The 7.5 million shares of stock of ENNT was issued to EMB, and is being held in trust for the benefit of the shareholders by our attorney, Mr. Randolf Katz, of Bryan Cave LLP, in Irvine California. ENNT filed an SB-2 Registration Statement sometime in 2000 to register the stock for distribution to the EMB shareholders. After several comment letters with questions etc., from the SEC, management of ENNT decided to withdraw the SB-2 Registration Statement, and reorganize the company. According to our attorney, we cannot distribute the stock to the shareholders without SEC approval, or until such time EMB would have held the stock long enough to distribute the stock legally by meeting all the rules and regulations of the SEC. At the present time, we have to wait until after April 1, 2002 at which time we will see what our options are, and hopefully we can legally meet all the rules required to distribute the stock to those shareholders that were shareholders of record on March 31, 2000. The transfer agent has that list available for us when we need it. It is not a dead issue by any means, and I will do everything I can to make sure the shareholders get what was promised.
4. Shareholders: You do not have to be a shareholder today to get the dividend that was announced in the year 2000, only a shareholder of record as of March 31, 2000.
5. Information: As for keeping you informed on what is going on with the distribution of the ENNT shares, and EMB in general, the answer is yes, of course, I will be more than happy to put your e-mail address on our EMB e-mail list, and keep you informed along with the public at large when anything does happen, or when there is anything to say about EMB.
I do appreciate your interest in the company, especially keeping people posted about the facts, not hearsay, or in some cases, people just being absolutely wrong about everything. We are doing our best to bring this company back to life, and I can tell you it is not an easy road to travel. I understand and can certainly sympathize with people when things don't go the way they would have wanted them to go, and some cases lose money on the stock or stocks they have purchased. I will tell you that we have certainly made our share of mistakes, and hopefully will not make the same mistakes twice.
We will be filing our September 30, 2001, 10-K audited statements on or before January 15, 2002. It will look better than 2000, but we still have a long way to go. We are expecting to show a strong recovery for the fiscal year 2002. Of course, bear in mind, the over all economy will have a lot to do with the results of EMB for fiscal 2002, and all we can do is our best, keep making acquisitions, mergers, and try to bring about shareholder equity and value.
A lot of companies in the same business as EMB vanished from the scene over the past couple of years, with some filing bankruptcy. So, I suppose we can and should be thankful that EMB is still around, giving it the old college try, and always keeping a good thought. I can only promise you one thing, and that is, that I will do the very best I can, with full honest disclosure at all times.
I hope I have been able to answer all your questions satisfactorily, and if I can be of any further help, please do not hesitate to call on me. In the meantime, please accept my wishes for a very Merry Christmas, a Happy New Year, and a successful profitable 2002.
James E. Shipley, President
EMB Corporation
