1) Management cleaning up the books: Well, they haven't been. Reasoning? Well the reason they will give is the same reason they will give for everything wrong at EXPH in 2010...the "router failure". Oh yes...and I understand there is also a blizzard affecting the East Coast so they will work that in as well no doubt. The actual reason is that a) they don't care about whether or not their books are "clean" because they have no reason to. If they had an actual concern it would be because they are going to have to release that information to their public shareholders...which they have already lied about twice and obviously have not the slightest intention of doing. The false and/or misleading announcement that they were "cleaning up the balance sheet" was simply that...to mislead shareholders into thinking transparancy was coming or to allow their imagination to run wild and conjure up other non-existent possibilities. Like a buy-out where those common shareholders on the outside would actually profit by it.
2) Reducing debt. I have shown the numbers a half dozen times and adjusted them monthly. There is no "debt reduction". They are currently having to sell 400 million shares a month to make payroll. That will now go to 600-650 million shares shortly until the R/S is announced. The company is and has been bleeding cash at the rate of $45-75K in losses monthly. The company will be worth $500K LESS this year than it was last year with between $900K and $1.2M in LOSSES. I have no idea how you "reduce debt" under those circumstance unless you just bald-face lie about it and pray someone will believe you based on faith.
3) ETC is a near worthless entity that was created for the same purpose almost everything at EXPH is created. To mislead or to provide yet another alternate avenue down which shareholder's equity can be routed into JD Brown's and his buddy's pockets. That's it...no mystery. You may have noticed there are 4.5 days left for Brown to announce the retailer with 100+ outlets that ETC will eventually move their cabinetry into? Which won't happen unfortunately...because the whole thing was a set-up. The ETC retailer will either turn out to be totally false or turn out to be an e-tailer that simply re-distributes online product searchs to other websites...100+ in this case. Meaning absolutely squat for EXPH and their shareholders as almost no one buys cabinets from a picture online. They go and look at them first at a home store or remodeler warehouse.
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