Expo Holdings Inc. (EXPH)

[Santa Barbara Broker]

"...there was a SM held in sept 2010 where mgmt clearly articulated that due to volatility (and based on known info posted in self same PR on june/july and august's whiplash) they won't be giving out *forecasts*. i took it as a given that 2009's *guidance* wasn't to be relied upon. i suspect the god awful *reality* of this last year (which imo made 2009 look like a picnic) did for mgmt what the form D *debacle* posted in this very venue did for the SEC."

So you are basing your opinion that being "god awful" in reality to even the horrid likes of 2009, 2010 should be "a given" to have had it's revenue forecast of "$9M to $11M" lowered simply by the "tone" of that 2010 PR from the shareholder meeting held September 15, 2010??? How then, pray tell, do you explain these announcements painting a spectacular future and present for the company from that same exact shareholder meeting? (Presented here "for digestion" with a link so they can be studied IN CONTEXT should the reader so chose):

"The Company anticipates retail availability of etc. brand products within 15 business days. The company currently has commitments for three retail locations, and expects this to expand to over 20 by year end.”

"The company expects continued debt reduction up to this date, and the new CEO will take the leadership role with a stronger balance sheet under better transparency. Two debts, one with BB&T and one with TCF have been paid in full and the company now owns the equipment. The company’s focus will now turn to debt reduction with other traditional banking sources as well as direct debt reduction to five (5) individual debt providers."

"June 2010 sales declined by an approximate 70% compared to June 2009 sales. Sales for the month of July (2010) were up 85% over July (2009), and sales for the month of August (2010) were up 580% over August (2009)."

"The company anticipates continued demand for our Cima brand products and expects to deliver over 24 major projects by year end related to this brand. D&D Displays continues to deliver products on a large scale and is in the process of shipping to over 1500 Lowe’s Companies, Inc. stores as the shareholder meeting was conducted. Shareholders were able to view pending shipments as they were prepared for transport."

"The company anticipates no change in its authorized shares, and no reverse stock split is a consideration."

"Q: What is your current sales guidance?
A: We will not provide sale guidance, however display shipments valued in excess of $200,000 should ship in the next two weeks."

"Q: Do you have a backorder status?
A: The company has approximately a 6 week backlog of orders for cabinetry products and a 4 week backlog on display related products."

http://finance.yahoo.com/news/Expo-Holdings-Inc-Provides-bw-2909758636.html?x=0&.v=1

You were referring to THAT shareholder meeting? The one letting all the shareholders know that everything was "god awful", LOL? That sure didn't sound like a report that the sky was falling to me. It sounded like a report from a company in which revenues were up considerably with the exception of a slow June 2010 and a future that was so incredible and filled with profitability and high, backlogged product demand that they wouldn't have to tap share sales again. Now one part on one CNC machine fails and the wheels come completely off 40 days later? And management "wasn't wrong" or worse...just bald-faced lying to it's shareholders? Please. All IMHO.

SBB