seems the same old story of selling stock and borrowing money was used to support the company during 2010 to date...$225k in proceeds from the two notes EI mgmt issued...i know, i know, the $200k note to emerald assets was issued in dec of 2009, something to do with some LOC, but since there is no longer a LOC did EI mgmt return the money to emerald assets or pay off that $200k note...NO...EI mgmt seems to be very, very silent on what they have done with that money...but if EI mgmt converted those funds to other uses it would make sense that EI had no need to issue very many shares during the third quarter...i mean, $245k from stock sales...$225k in proceeds from the two notes...$470k...goes a long way to paying bills...since....gross profit from sales during the first three quarters of 2010 was only $63k... this brings us to the 4th quarter and beyond...
...operating and administrative expense during the first three quarter was $585,574.
.................revenue published by EI mgmt for the first three quarters was $533,750.
NOW THE BIG QUESTION will be...how does EI, the company, support itself during this fourth quarter and long into the 4 quarters of 2011...as you can see EI mgmt's source of revenue became tapped out by the end of the 3rd quarter and all they have to rely upon during the 4th quarter is revenue from licenses and sales of products...to date EI mgmt has shown no revenue from licenses. quite to the contrary, EI mgmt has shown product licensing and royalties have cost EI $166,486 during the first 3 quarters of 2010...and it's obvious sales can't even cover the costs of the licenses...plus interest and penalties coming due on $457,111 worth of notes...plus $190,000+/- of operating expense for the 4th quarter of 2010...plus ???
it doesn't matter if EI mgmt sells the remainder of the shares they still hold in treasury(40m shs @ .0006 = $24,000). could be Clint's reason to do a r/s and get the value of the stock up to .01 ... with the terms of the proposed r/s EI's treasury would have 65m shs available to EI mgmt...65m shs @.012 = $780,000...how does that compare to today's treasury value...
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Proceeds from Note payable(date 12/01/09) to Emerald Asset Advisors...$200,000 - pg 15 2nd quarter 10Q
Proceeds from Note payable(date 04/12/2010) to Devon Block..................$25,000 - pg 15 2nd quarter 10Q
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issued 0 shares during the fourth quarter thru 12/10/2010...
As of December 3, 2010, the number of the Company's common stock outstanding was 709,870,131 - source - T/A
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issued 1m+ shares during the third quarter...
As of September 24, 2010, the number of the Company's common stock outstanding was 714,604,135 - source - T/A
As of August 27, 2010, the number of the Company's common stock outstanding was 713,854,136 - source - T/A
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issued 16m+ shares during the second quarter...
As of June 23, 2010, the number of the Company's common stock outstanding was 713,554,136 - source - T/A
As of April 30, 2010, the number of the Company's common stock outstanding was 712,735,806 - source - T/A
As of April 23, 2010, the number of the Company's common stock outstanding was 706,735,806 - source - T/A
As of April 07, 2010, the number of the Company's common stock outstanding was 703,112,618 - source - T/A
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issued 24m+ shares during the first quarter...
As of March 29, 2010, the number of the Company's common stock outstanding was 697,112,618 - source - T/A
As of March 25, 2010, the number of the Company's common stock outstanding was 691,112,618 - source - T/A
As of March 19, 2010, the number of the Company's common stock outstanding was 674,912,618 - source - T/A
As of January 01, 2010, the number of the Company's common stock outstanding was 672,386,666 - source - T/A
