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Microcap & Penny Stocks : Eutro ( EUTO ) -- Ignore unavailable to you. Want to Upgrade?

To: Binder who wrote (10876)	3/29/1999 10:21:00 AM
From: Glenn B.	Read Replies (1) \| Respond to of 12043

This was copied from AOL. It does seem to answer some questions, one of them being will more shares be sold? The answer is yes. I spoke with Brad yesterday. Most of what we talked about was a confirmation of what has already been posted here. The additional outstanding shares are being used to pay creditors, however these are not creditors in the sense that Bar was suspicious about. Apparently, these "creditors" are some of the original investors in Eutro that loaned money to Eutro in their fledgling days. Brad explained that in the financials that were released last year, mention was made of class "B" shares. These shares don't really exist as stock, but are listed as a form of accountability. The amount, which is fairly substantial is what is owed these investors or "creditors". He also stated that the financials were stated the way they were to make them look better. A fair warning - Eutro will be issuing more shares to settle with these creditors, but Brad didn't say how much more and I didn't think to ask. They are, however, restricted. Eutro still expects Freedom to be trading sometime in the near future, but Brad is no longer venturing to guess when. Bringing companies public via IPO has proved to be much more involved than Eutro originally thought. I put that sentence in bold letters to stress its importance. Nearly all recent events regarding EUTO within the past year and a half can be attributed to that statement. Also, it is unlikely that we will be getting Reddi-Form shares. Although they are still a client of Eutro's, they won't be going the IPO route, but instead will probably assume a shell, as will probably also be the case with Cypro. The main difference here is that Reddi-Form will not probably become a public company until after the merger is completed. I will post more of what Brad and I talked about tomorrow as this message is getting kind of long as it is, and also, I'm pretty tired. Continuing the message I started yesterday and regarding your question, Brad stated that the preferred shareholders are still shareholders and that he believes what was valid for EUTO preferred shareholders should still hold true for Ivy shareholders after the merger. Hopefully though, dividends will actually be paid with Ivy rather than accrued or the preferred shares will be redeemed. I also indicated my concern that, for a company that is to be involved in internet selling, Ivy's website was pretty pathetic. Brad said the web page was thrown together as a favor to him just to have something to show us. Another website that is hopefully much more professional looking is being put together. Also, concerning internet selling, this will not involve souvenirs of the Ivy club as some have speculated, at least not prominently. The internet sales will be geared more towards the entertainment industry as a whole. Brad mentioned videos for example. Brad also mentioned that Ivy's business plan is quite impressive and that the management is eager to implement it. Apparently, becoming a public company was part of their plan, which is how they got involved with Eutro in the first place. I guess they figured acquiring a shell would be more feasible, and a lot quicker, so they made a deal with Eutro in which EUTO became the shell. Brad also mentioned that the Ivy club is only a small part of the total business plan. I also asked him if the owners of Ivy have any experience in running a public company, and he said he did not know the answer to that one, but he offered that they are well connected to brokers and others who deal with public companies. I think that pretty much covers our conversation. Best wishes to all, -Martin-