Replies to post #36542 on Expo Holdings Inc. (EXPH)

[Hooka]

"Let me phrase this as a question... if EXPH needs to borrow money, do they currently have an agreement in place with Wachovia, Wells Fargo, or Crestmark in which they can borrow money?"

I have talked to JD about "where are they getting money from?"

They can go to a bank, one they do business with or a new bak with a purchase order for the new product and most likely get one.

I then asked "What if you get denied a lone?"

JD told me that they have about 17 to 20 million shares they can sell.

Most likely if EXPH has an initial purchase order from a "Lowes or Home Depot" type company, it should not be a problem. Those are types of loans banks love making. Quick turn around or even expand the loan when more orders come in. Either way its win win win for everyone.. Lowes gets their product, EXPH makes the product the bank makes interest off the loan.

[Santa Barbara Broker]

I fail to follow your line of reasoning. You state that:

"Even Crestmark has to put the term "line of credit" in quotes because it is not one. They could get sued if it wasn't in quotes."

So Crestmark Bank can lie about a line of credit as long as they frame the prevarication in quotes? So if what Crestmark Bank is offering EXPH is not a "line of credit", what is it exactly by definition? Here is all the contact information for Crestmark Bank. Perhaps if you speak with them they can explain all this to you and you can then accurately relay it to us:

http://www.crestmark.com/locations.asp

CRESTMARK BANK
5480 Corporate Drive
Suite 350
Troy, MI 48098
Main Phone: [phone]
Toll Free: 888.999.6088
Fax: [phone]
Email: [e-mail]

IMHO.

SBB

[DD-214]

how about the REAL Facts..

"Actually what you just posted proves that they DO NOT have a line of credit with Wachovia/Wells Fargo. It was one, but it was revoked and turned into a long term loan."

Where did anyone say in this thread there was a line with W/W, you erroneously stated that..


"The $1M invoice factoring is not a line of credit. You can not borrow against it."

the 1m line of credit is a factoring LINE of CREDIT, let me repeat, a LINE of CREDIT.. again, you misstated that as well..


"I really don't understand the insistance here and on other boards that these are lines of credit, when they absolutely are NOT lines of credit"

sorry you can't understand that..


"An arrangement in which a bank or vendor extends a specified amount of unsecured credit to a specified borrower for a specified time period."

you found that quote on google, irrelevant to this issue..


Or this one: "A credit arrangement in which a financial institution agrees to lend money to a customer up to a specified limit. A line of credit, generally arranged before the funds are actually required, provides flexibility for the customer in that it ensures the ability to meet short-term cash needs as they arise."

you found quote that on google as well, also irrelevant to this issue..


"Both the $1M invoice factoring and the long term loans do not fit this, or any, definition of a line of credit. Even Crestmark has to put the term "line of credit" in quotes because it is not one. They could get sued if it wasn't in quotes. If you don't follow this, just ask yourself... why is it in quotes?"

for the 7th time you need to read, study and understand this issue, as you have misstated the facts once again..
http://finance.yahoo.com/news/Expo-Holdings-Issues-iw-991953320.html?x=0&.v=2


"Why do you think that EXPH repeatedly uses the term "credit facility" to describe the $1M loan?"

because that's what it is and that also is a FACT..


"I know, acknowledging that EXPH does NOT have a line of credit is damaging, but it is the truth"

you know, wrong (once again)..


"Let me phrase this as a question... if EXPH needs to borrow money, do they currently have an agreement in place with Wachovia, Wells Fargo, or Crestmark in which they can borrow money"

yes, all of the above..


last and doubtfully least, you'll be calling JDB in the morning, no?

only the FACTS, only the FACTS..

[99leadballoons]

i dont understand your hang up on this over and over.

It is a line of credit. This is very common. It is called asset based lending.

[venomen2002]

I answered this already..

You ask..

"Let me phrase this as a question... if EXPH needs to borrow money, do they currently have an agreement in place with Wachovia, Wells Fargo, or Crestmark in which they can borrow money?"

The answer is yes..and like I said before..it is in plain English..Taken from the PR back on June 29th..Read the last three lines carefully..and forget the quotes you have given some meaning that doesn't exist..

"James Brown, CEO, stated, "We have restructured nearly $400,000 worth of our short term loans with Wachovia Bank and Southern Community Bank into long term notes with the same entities. There are no convertible debentures. No shares have been or will be issued in regards to this debt."

"The rates are favorable and we appreciate the continued willingness of each bank to fund us, even after experiencing a tough year like last year. We anticipate continued good relations with each bank now and in the foreseeable future."

"Additionally, Brown stated, "We also continue to enjoy a great relationship with Crestmark Bank. We operate and use a 1M credit facility with them."

"The company expects to use this line heavily in mid to late 2009 funding its anticipated accelerated growth plan.

Now unless you believe the CEO is lying..then the company can draw down on that 1M "line" of credit..Also..from the periods shown..it looks like the company can and will do that if needed this year..

I am not invested in this company yet..I am watching to see what comes next..Good luck to all of you that are invested..Also congrats to all that got in when it looked like the company wouldn't make it and stuck with them at least this long...veno