This is why they removed VLC from their website. 10K page 7.
Our license agreement with The Vatican Library Collection license agreement expired on June 30, 2008, and we are currently negotiating a new agreement with this licensor. Pursuant to a provision of the expired agreement (“Section 20.5 – Disposition of Inventory Upon Expiration”), there is a six month “sell-off” period after termination of the agreement wherein we as the licensee have the right to continue to sell any remaining stock that we have with the Vatican Library Collection logo. At this time, we have no urns and no caskets with this logo.
It's been expired for over 15 months now. First I knew of it was when the 10K was released on 6/10/09. Nearly a year after expiration and I've followed every EI bulletin, PR and shareholder letter since 2/2007.
So, if you take EI at its word, they're currently negotiating a new agreement with the VLC. How long? I would guess since mid 2008, but with EI'S vague communications that is pure speculation. To the best of my knowledge, we have not received any direct feedback with substance from EI on any progress concerning a VLC agreement.
The VLC line sure drew a lot of attention from investors at one time.
AI
