Eternal Image Inc (fka ETNLQ)

[Calfire]

I thought it went something like this...but need to go back and look,

(1) Post R/S shares were under 200m.
(2) Officers issued themselves about 150m in 2008 which put the total O/S in the 300m to 400m range.
(3) In early 2009 they paid off a ton of debt from the start up years with something like 200m+ shares.
(4) We end up with 600m+ O/S at the end of first quarter 2009.

Again...Here is what I still plan to look into...and maybe Lawrenzo has the energy to do it for me...but I will still check it on the next 10k.

(1) How many treasury shares in 2009 were needed to maintain or grow the company vs. reducing old debt.
(2) How much of the debt that was paid off with shares in 2009 has crept back onto the books...if any.

These are the kinds of discussions that should take place here. Forecasting gloom and doom from "incomplete" analysis just leads to meaningless emotional banter...and sadly people going to jail for challenging it.