Here is a quick summary. I tried to write everything down as I could so I can't read my own writing, but here goes...
The meeting started with the required 'Safe Harbor' statement, and Tony Cataldo giving his background and previous companies he has worked with. He the wished his son a happy birthday and talked about the future of entertainment technology.
He stated that the company will pursue a policy of releasing only completed events in press releases, no fluff.
Currently the company has 12+ projects completed or in process. Most of these are well known already, Speedway Junky, Grizzly Mountain, Escape from Grizzly Mountain, After Sex, Andrew Dice Clay in Vegas, and the rights to several scripts. There are other projects that he could not give specifics on, but stated that there will be press releases coming out in the future on them.
The merger with EINI is not just to restructure MVEE away from being a Canadian company, but to bring the resources of CastNet to MVEE. He hinted that in the future there will be ModelNet, WriterNet, and ProducerNet, indicating expansion of the EINI side.
MVEE brings to the merger a balance sheet. The audit is nearly completed, and he was unable to give any specific numbers due to the current status of the audit. He was able to state that MVEE currently has approx. 9 Million in equity, no debt structured and no convertible debentures. He stressed the neither MVEE or EINI have ANY convertible debentures.
The combined company will meet all NASDAQ requirements except share price and we was confident that would follow quickly.
The new combined company 'Miracle Entertainment' will start out as a fully reporting company with a form 10 and will have approx. 50 million shares.
He stated that from the results of the audit thus far, that EINI is undervalued and MVEE is 'undervalued in multiples!.'
Mark
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