~News~ Spoke with Tony Fazio.
Eternal Image Shareholders,
I just got off the phone with Mr. Fazio from my office in Newport Beach. I did some DD and went over several topics I think everyone would like to hear about the company and PR's.
1.) Reverse Split: (PR'ed first thing in morning --> see bottom paragraph for further explanation.) The ultimate goal for the company is to uplist to the Nasdaq. Tony assured me that even though the O/S share structure was not a barrier for uplisting to the OTCBB lawyers had instructed the company that this would have to occur and thought it was best at the current time instead of waiting for the Nasdaq uplist.
2.) Uplisting: There will be a second PR tomorrow concerning the uplist. The change in ticker symbol is due to the uplisting. The company will be filing later this month.
3.) Sales: Sales for the 4th quarter are being completed and Nick will be done compiling the quarterlies for Q4 by the first week of February. We can expect the numbers to be released the first-second week of next month. Numbers should be in line or better.
4.) Buyback: Tony was unsure as to the current status but told me he would pass the message to Jim Parliament when I conveyed investors would like to know the status of the buyback. They may include this information in the second PR tomorrow or the one that is coming on Friday.
5.) European Partner: He has not heard any new developments on this except they are still in the process of trying to procure a soccer license.
Lastly, when speaking with Tony he noted that he can completely understand the anxiety investors are currently feeling due to the negative connotation reverse splits have. He advised me this is not an oil exploration company and the company had not intended for it to appear the transparency was jeopardized. The PR for the R/S was to be made at opening bell and the company had not thought this information would reach the public until they could give reasoning behind the legal implications for the R/S moving up from prior planning by the board of directors and Clint.
My perspective is this R/S was unavoidable and going to occur regardless before we moved to the Nasdaq. ETIM's lawyers advised it to be filed with the uplist. I am holding my shares. I will add if the price tanks further perhaps. BEE and whats left of the believers hang in there. If anyone has any questions feel free to contact me with the information below. Goodluck to everyone regardless of your choice.
Best Regards,
Matthew J. Gora
Business Economics
University of California, Irvine
Merrill Lynch
Wealth Management Advisor Intern
(949) 751-8070
MGora_uci.edu
