It appears from Jared’s deposition that the 0.10 cent per share buyout offer has been confirmed as real. I never doubted! I am going to use general numbers to make the remainder of my point. If there were approximately 400 million shares outstanding when this offer was made then the buyout offer was for $40 million. Obviously Jared would be getting a significant some for his preferred shares on top of this. For arguments sake I will say that Jared would be taking at least 10 million for himself and that is probably conservative. So at the time of the buyout offer EESO was valued at 50 million by the parties interested in buying EESO. Jared turned down this offer and ask for 0.15 per share with 25 million in cash and the remainder in stock. That would make EESO worth approximately 75 million. OK, what has changed since then? Lots of legal problems but the basis for the buyout offer is unchanged. EESO was not doing any significant business at the time so this offer was based solely on the value of the formulas. There was nothing else to buy. No important assets and certainly no significant receivables. Regardless of all the BS negative comments about the formulas the fact remains that a buyout offer (50 million or more IMO) was made by successful companies that don’t spend money recklessly and the only assets at the time were the formulas. IMO the value of EESO is unchanged since the buyout offer. The only question that remains is how will Jared/EESO go forward. Selling the retail/industrial products to WG makes the most sense because Jared/EESO doesn’t have the money to support market penetration for these products and also money is needed to pay the SEC. The real money is in the pig poop formula. If there is ever going to be a home run it will be the pig poop formula. If Jared will stop stepping on his own swantz and make some good decisions we could still come out of this in excellent shape. All IMO of course.
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