Two separate entities but one owner , Expo Holdings .
I am not well-schooled in the laws of two ( or more ) separate entity businesses being owned by one parent company , but I do know that a public company must include the earnings and all material aspects of their subsidiaries in their Financials .
So , whichever manner Etcetera is deemed to operate no-one has yet been fully apprised , but because Expo Holdings must include all earnings of Etcetera in their Financials ( even as ' other ' income ) the bottom line goes to Expo Holdings and Expo's trading equity , EXPH .
It would help EXPH investors if Expo would file appropriate Filings in similar fashion to a reporting company . There would be much less
guessing .
The above , and other posts are my best guesses .
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