Per attending the meeting:
ETC. has entered into an agreement with a retailer with approixmately 100 stores that is currently being finalized. Should be PR's by both the retailer and EXPH in the coming weeks PRIOR to the release of the ex-date.
Less than 5% of EXPH's assets will be transferred to ETC. Those assets will mainly consist of forklifts, materials, etc.
The previously PR'd buyback was for 2.5 Million shares, they actually ended up retiring close to 3 Million. The broker tood a really long time getting the certs to JD. He sent in 6 formal requests, before finally receiving them to give to the TA.
The current OS is 989,342,218.
Other than the 98.9 Million shares of ETC. that will be held by shareholders of record of EXPH, EXPH will hold the remaining shares of the 110 Million authorized.
JD said that he is sick and tired of the Pink Sheets. ETC. will will be the first to move up to a higher exchange, followed by EXPH as well.
The SEC mandated "Quiet Period" (90-120 days) for IPO's will begin on the first day of ETC's creation, so as to allow for the quickest route to taking ETC. public.
ETC. shareholders will likely be given a username/password, so that they can log-in to see the quarterly financials for ETC.
ETC. will essentially be a sales & marketing company, with EXPH doing 90-95% of the manufacturing for ETC's products.
The remaining 5-10% of ETC's manufacturing will be contracted out through licensing agreements. Licensing profits are typically between 4-14%.
2009 Revenues for ETC will be shown within EXPH's financials, mostily within the 4th Quarter.
10,000 fixture client is still being manufactured and delivered. There were a truckload of those products loaded up in an 18 wheeler for shipment. Will be released once completed. The delay in release has come through a delay from the client going through a recent merger.
2009 Revenue guidance is still on track at $6 million at this time.
The ex-date to receive ETC. shares will be released through PR prior to that date, allowing shareholders whom desire to purchase shares time to do so.
