Colin,
You ask such fun questions!! I'll give my view...
Many people, including myself, have called Brad many times in the past. To put it politely, Brad is a wonderful salesman, but tends to avoid the truth. His credibility is 0.
Since EUTO is a non-reporting company, it seems shareholders have no right to see any information.
However, putting that aside, I believe that it was posted originally that EUTO management said that the increased outstanding shares were to be used to purchase other revenue generating business. This was the explanation after shareholders discovered the increase in the authorized share count. The 25% purchase of Ivy was suppose to be the first.
Well, that 25% deal fell through, but still the outstanding shares kept increasing. Then came the 100% acquisition news release, which turned into a news release defining a reverse merger, with EUTO management to turn the company over to Ivy. So now EUTO didn't have to purchase anything with those new shares, and the new explanation given by Brad, as posted, was that they were being used to pay liabilities.
As you saw from my post, in my opinion, that it is an insufficient explanation.
Judith
Off Topic
I see you are a fellow New Yorker. I am not into the bar scene here, but in doing a bit of research, I don't see that Club Ivy is an in spot here in the city. Have you heard much about the club?
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