If Expo Holdings has "real revenue", why did they have to raise the A/S almost 3% to fix a router head on a single machine? Let's not even go into the fact that management would appear to be so incompetent as to have not a general backup plan in place for a single machine idling 20-40 employees and shutting down the entire business. Who's kidding who? They most probably ran out of cash and HAD to shut down. The router simply presented itself as a barely credible excuse in a timely manner. To state that Expo Holdings, Inc. has "real revenue" is irrelevant in the most finite of terms. What type of earnings did they have the last four years while they were diluting the shareholder equity to practically nothing and losing money hand over fist? Was that called "false revenue"?
The fact that the pumper's of this scam are constantly trying to skirt is that it makes NO DIFFERENCE WHATSOEVER, NONE, how much revenue Expo earns. They are spending more than they take in. If that ever changed, they would bring on more buddies and raise their own salaries and perks to spend even more to keep it that way. Read the financials. Study the company's financial history. The recent period from July through October has supposedly been the most profitable in the company's existence. That is surely what has been implied in every PR issued by Expo since last June. "Huge" Lowes order of 20K units beginning, new etc product going out to unnamed mystery retailer, Cima brand backlog in orders, doghouses flying out the doors...they couldn't build stuff fast enough. Yet a part on a CNC machine breaks and suddenly they need to start diluting again...after three months in a row of record earnings...or such as was implied. Get a grip....
The principals of this company are prevaricators. They mislead their investors on every level imaginable. They are throwing away 5% of their gross revenue (33% of their gross profit margin at least) before they even earn it due to factoring because they are spending so much money on G&A expenses bringing every stray buddy in off the street to feed at Expo's shareholder equity trough they can't wait for their payments to arrive from their customers without missing a payroll. They are not going to borrow more cash against their LOC's because Harrs and Brown are responsible for repaying it. There is a MASSIVE wave of dilution coming this way and will arrive before June of 2011 in the form of a huge A/S increase or a massive R/S on the O/S only. Either that or the scheme Kendrick will use to take out the public shareholders in order to take the company private will WIPE OUT ALL BUT A MICRO-PITTANCE of outsider common shareholder equity. And that will be happening within the next 4-6 months. The best part? There is NOTHING at all the outsider common shareholders can do about it. Nothing. The insiders at the equity trough are chowing down on THEIR money and LTAO while Brown continues to do PPs and PIPE funding to meet payroll. And through this, they hold the bare minimum of shares necessary to call all the shots without a single outsider's common share vote. They won't even go through the common courtesy of announcing they are diluting again...they just take the rubber stamp and issue more shares and let the outsiders find out after the fact that while they've had their "catcher's mitts" out, they've been sucking up Mazuma Capital's 40% .0003 cent discounted shares that were dumped on the market between .0005 and .0006.
Real revenue? You bet...and it's all coming out of the outsider common shareholder's pockets and traveling straight into JD Brown and friend's bank accounts. And the company's explanation for their troubles? It's all the fault of US inflation...LMAO! Hey JD...at least state it as the fault of "commodity price inflation" next time so you can blame it on lumber futures and carry a small particle of credibility. All the above IMHO.
SBB
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