Expo Holdings Inc. (EXPH)

[Santa Barbara Broker]

Acc...you have to understand. The people who are assigning these idiotic valuations to Expo Holdings don't take into consideration debt. If Brown borrowed $18M @ 32% interest, bought 12 Buggati Veyrons through the company and parked them in the lot in front of the warehouse, these same people would simply say Expo Holdings shares had just gone up $18M in value. No mention of the cost of finance. No mention of depreciating assets. No mention of the basic debt from principal borrowed. Just added value. Despite the fact in that particular incident, the valuation of the company would have probably declined ANOTHER $5M right off the bat. You could literally sell the Brooklyn Bridge to Expo Holdings and a couple yahoos would add it's replacement value to Expo's balance sheet. It is hopeless trying to convey common sense. All we can do is just hope Jerry's attorneys are starving great whites who are smelling blood in the Wilkeboro cesspool. IMHO.