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Gold/Mining/Energy : Ecoprogress Canada Holdings Inc.
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To: Veteran98 who wrote (31)1/14/1998 10:28:00 AM
From: Garry K.  Read Replies (1) of 48
 
Harry,

I spoke with Mike yesterday just to get somewhat of an update on where EPO is. He is optimistic that a group of investors will follow through on financing, however I believe details are still to be worked out. Financing is paramount right now in order to get this company going -- ie. to finance a marketing campaign and to produce additional product. I asked him about the possibility of bank financing and that possibility is remote -- the banks will not take accounts receivable, inventory or raw materials as collateral. I also mentioned maybe the company can take a look at some LSVCCs (venture capital funds or Canada Working Ventures) for financing, but EPO's market cap is too small. Private investor support is the route EPO may have to take. Hopefully something will be arranged shortly.

Mike also mentioned that sales have been going relatively well, particularily in some Overwaitae stores. This is in absence of any advertising, so IMO I think the product is real and has a good chance to succeed once a marketing campaign is initiated. As the release indicated, additional product orders have been made.

I agree with you Harry, this company has a product line that should do very well in today's times. It is going to be a matter of investors recognizing this potential.

Good luck!

Garry
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