It's called growth. Expansion. Building value for shareholders. Everything that Expo Holdings has NEVER done or even attempted to do. Read the past financials. Start with 2005 which were included as part of the start-up process when they went public in 2006. They had just lost $350K+/- in the most profitable building supply chain and general home construction year in US history. If you were ever going to make a profit selling floor displays, THAT would have been the best opportunity in their life times. What happened? They lost their azz because they are most likely completely inept as think-on-their-feet businessmen...wanting fiscal success and community accolades and adoration without the hard work that comes with it. Messianic personalities likely buried deep in personal debt, having no other source of capital available and no way out of what would likely have been personal banckrupcy, someone suggested "going public" as a scam escape. To save face and pride, they did...selling millions of shares to locals. Then, what was the first major fiscal move they did as a company? Borrowed nearly $400K at 25% effective interest and gave themselves a "shareholder advance" on the backs of their new shareholders. Something that will NEVER be paid back in cash. Never. They then proceeded to sell shares on the open market, deep six their real estate holdings to an "investor" so they could use that cash to pay themselves. The "landlord" then upped the rent on the Shaver street complex to twice what it was going for locally at the time with Brown and Harrs probably getting a chunk of that in my sole opinion.
That answer your question? Expo is a scam. It started as a scam. Has been run as a scam. And is planning more scamming activities as you read this. Which you will find out about shortly when they do a reverse merger or reverse stock split as they filed for in February 2011. All IMHO.
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