Expo Holdings, Inc. Conducts Shareholder Meeting
02 Diciembre 2009 - 2:30PM
Marketwired
Expo Holding, Inc. (PINKSHEETS: EXPH) releases a summary of
statements made by James D. Brown, company CEO and Chairman. The
summary is in the form of a special letter to shareholders.
"Dear Shareholders,
"First, I would like to thank our loyal shareholders, without
whom our company would not have survived last year's nationwide
financial meltdown. Thank you sincerely for your support.
"This year has been exciting and demanding. Survival was
foremost on our minds in early 2009 with that transitioning to a
growth and investment philosophy in late 2009. From an investment
point of view we started this year with a PPS of around .0015 and
as of yesterday we were trading in the high .006s to the low .007s.
This represents a significant gain in the market cap of the
company.
"Management is forecasting $9,000,000 to $11,000,000 in annual
sales for 2010 down from previous estimates of $17,000,000 plus. We
are revising this based on the best information possible from our
retail partners and reports regarding the lagging retail sector.
The economy continues to struggle and we believe that any broad
based U.S. economic recovery may be delayed into 3rd or even 4th
quarter 2010. Management also believes pent up demand exists, and
will benefit the company in terms of purchase orders with values
exceeding $1,000,000, in late 2009 or early 2010.
"Previously the company announced its intention to spin off its
newly formed ETC. division into a private company. Up to an
estimated 5% of Expo Holdings, Inc.'s assets may be transferred to
the new entity. If approved, this stand alone private entity could
secure its own conventional financing, secure appropriate
distribution facilities, and operate independently as a debt free
distribution / sales and marketing company. As announced earlier,
this entity would be completely quiet for some period.
"The company has entered into an agreement to supply a
nationwide retailer with our new proprietary product ETC. It is
management's best estimate that by January 10, 2010 this retailer
will begin store level training and implementation. It is also
management's best estimate that this retailer, along with Expo
Holdings, will go public with a formal stand alone press
announcement in the very near future. Originally, our goal was
reveal our finalized plans today, but this was not possible given
the retailer's timetable. The company will offer no sales estimates
for the ETC. spin-off company except to note that it is expected
that the new ETC. entity will eventually dwarf its parent company
Expo Holdings, Inc. Shareholders are cautioned that immediate
results should not be expected as retail rollouts of this nature
take many months or even years to complete. A press release
concerning this subject will be released before any 'quiet' period
begins.
"The company will remain a 'pinksheet' company for the balance
of 2009; however, it has aspirations to trade on a higher exchange.
Currently the company is not required to report its financial
performance but does so as a courtesy to its valued shareholders.
Long term, it is the company's goal to report in a timelier and
more efficient manner. Additional accounting staffing is currently
under consideration. Shareholders should not expect the company to
be fully reporting now, or in next few months. Shareholders are
cautioned that we have just emerged from survival mode and we will
focus on profitability first, growth second, and shareholder
transparency third. It is anticipated that 3rd Quarter financials
will be released in the near future.
"The company continues to serve such companies as Kronotex USA,
Lowe's Home Improvement, Inc., Harris Teeter, Inc., and many
notable others. The company expects these and other customers to
strengthen in mid to late 2010, and increase their purchases as
they scramble to gain market share amidst recovering retail
spending."
At the shareholder meeting the company sought majority approval
for its tentative spin off, as well as conducted tours and a
question and answer period. If you are a shareholder and were
unable to attend and would like to ask a question, please email us
at customerservice@dddisplays.com
Expo Holdings operates in North Wilkesboro, NC. D&D Displays
is a wholly owned subsidiary of Expo Holdings, which specializes in
custom cabinetry and high end store fixtures for retail vendors
such as Newell-Rubbermaid, Inc., Bosch Tool Corporation, and Lowe's
Companies. D&D Displays has been in operation since 2000 and
joined Expo Holdings in 2006.
This release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
27E of the Securities Act of 1934. Statements contained in this
release that are not historical facts may be deemed to be
forward-looking statements. Investors are cautioned that
forward-looking statements are inherently uncertain. Actual
performance and results may differ materially from that projected
or suggested herein due to certain risks and uncertainties
including, without limitation, ability to obtain financing and
regulatory and shareholder approvals for anticipated actions.
Contact: J.D. Brown D&D Displays, Inc. 336-667-8765
www.expoholding.com
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