Expo Holdings Inc. (EXPH)

[Santa Barbara Broker]

All very impressive. But are these EXPH buildings leased or owned? If they're leased, that would make the (square footage) size of them not an asset, but a liability. Which leads me to question why everyone is going so gah-gah over them? Does size really matter? Or is it just revenues?

Of course when you are paying for them with your shareholder's equity, such liabilities are not a concern to management. Now if you were running a scam, leasing these huge buildings to maintain the appearance of being "impressive" and "legitimate" (much like the embellished content of their PRs) would be tantamount in attracting and retaining investors.

We should be getting fairly close to a new A/S increase no? Or will it be a reverse split this time...say a 1/10000 in possible "preparation for a big move to the NASD" in conjunction with the new transparency coming 9/1/2010. And those old 2.4 million shares that were "retired" possibly escaping the R/S and suddenly finding their way out of the treasury and back into the "active workforce"? Wow...$14.5M in new operating capital overnight! THAT would lease a few pretty buildings now wouldn't it? All IMHO.

SBB