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December 10 2009
2004-2009 report
Eurasian Holdings Inc. was set up in late 2004 as an incubation vehicle to develop early-stage industrial startups and real estate situations.
During 2005 and 2006, the Company developed new technologies in luminescent building materials, decor surfacing, paints, alpine herbs for health beverages, and inflatable sports flooring. The Company also took some small positions in existing technical companies active in surface and decor technology. In real estate, the Company took up some minority options on long-term property developments.
In 2006, having established its first businesses, the Company spent considerable effort in the USA, Germany and Switzerland studying the possibility of a share-listing in order to provide liquidity for shareholders. It became apparent that the market conditions at that time made a successful IPO difficult. Consequently shareholders were assisted in transferring shares privately between each other. To assist this process, in mid-2007, a sister company, Eurasian Holdings AG, was set up in Switzerland to provide share liquidity and proximity for European shareholders. The Swiss company's shares are equivalent to the American shares.
In 2007 product validations took place in all the startups and strong orders were booked.
After a successful start to 2008, the recession arrived. Many of the Company's booked product orders were cancelled as end-user customers shrank to their core business and stopped trials with new products. Furthermore, the Company's two principal product distributors ceased operations, leaving the Company with semi-processed inventory and unpaid receivables. Simultaneously, there was litigation in all the real estate deals as banks and deal partners adjusted to the new realities. The Company was also drawn into international litigation concerning luminescence patents. The rest of 2008 was spent in the courts and in re-organizing product-lines and contractual relationships. Fortunately, the Company was able to win, or extract itself favorably from, all the litigation, and has now initiated court actions to recover some damages. Financially, by 2009 the Company was short on cash but still developing its new product-lines which are being launched at the start of 2010. So motivation is extremely high for making the new product-lines work.
As of 2009, the Company has taken the following actions:
With the real estate situations delayed for the foreseeable future and upkeep costs mounting, the Company rescinded its existing option transactions and recovered and cancelled the shares it had issued.
All the luminescent materials, decor and paint businesses have been moved to the USA to take advantage of the larger market and the stronger local interest in luminescent products. Working with luminescence experts in USA, brightness has been further increased. A pilot production facility is being installed to start producing in 2010.
The Company has spent the last months re-thinking the way its startups are created and developed, in order to find a method that blends traditional and new-economy approaches (see Activities link above).
To summarize, the Company has come out of the recession with...
- new-economy concepts ready to start.
- new product lines in luminescence.
- product-lines of inflatable panels for sports, casual furniture and veterinary.
- no institutional debt.
- reduced number of shares.
Shareholders are invited to propose products to their local municipalities and the Company will follow up with a sales visit.
Selling your shares:
Now re-organized to function in a slower economy, the Company can turn to helping those shareholders who are seeking to sell their shares. The new activities are attracting new shareholder groups who will bring new expertise and relationships into the company. The Company plans to have arranged sales for selling shareholders by the end of first quarter 2010.
After bouncing back from a depressing and tiring year-and-a-half of commercial setbacks and legal stress, the Company is now fully energized again with its new business model and looking forward to 2010.
Due to the workload and the constantly changing legal situation over the last year and a half, communication with shareholders was not good and special attention will be given to getting this back on track. There will be an online discussion platform here in the website for news and questions.
"Eadem mutata resurgo"
Mike Harrop - CEO
http://www.harrop.info
Denver and Geneva, October 2009.
During 2005 and 2006, the Company developed new technologies in luminescent building materials, decor surfacing, paints, alpine herbs for health beverages, and inflatable sports flooring. The Company also took some small positions in existing technical companies active in surface and decor technology. In real estate, the Company took up some minority options on long-term property developments.
In 2006, having established its first businesses, the Company spent considerable effort in the USA, Germany and Switzerland studying the possibility of a share-listing in order to provide liquidity for shareholders. It became apparent that the market conditions at that time made a successful IPO difficult. Consequently shareholders were assisted in transferring shares privately between each other. To assist this process, in mid-2007, a sister company, Eurasian Holdings AG, was set up in Switzerland to provide share liquidity and proximity for European shareholders. The Swiss company's shares are equivalent to the American shares.
In 2007 product validations took place in all the startups and strong orders were booked.
After a successful start to 2008, the recession arrived. Many of the Company's booked product orders were cancelled as end-user customers shrank to their core business and stopped trials with new products. Furthermore, the Company's two principal product distributors ceased operations, leaving the Company with semi-processed inventory and unpaid receivables. Simultaneously, there was litigation in all the real estate deals as banks and deal partners adjusted to the new realities. The Company was also drawn into international litigation concerning luminescence patents. The rest of 2008 was spent in the courts and in re-organizing product-lines and contractual relationships. Fortunately, the Company was able to win, or extract itself favorably from, all the litigation, and has now initiated court actions to recover some damages. Financially, by 2009 the Company was short on cash but still developing its new product-lines which are being launched at the start of 2010. So motivation is extremely high for making the new product-lines work.
As of 2009, the Company has taken the following actions:
With the real estate situations delayed for the foreseeable future and upkeep costs mounting, the Company rescinded its existing option transactions and recovered and cancelled the shares it had issued.
All the luminescent materials, decor and paint businesses have been moved to the USA to take advantage of the larger market and the stronger local interest in luminescent products. Working with luminescence experts in USA, brightness has been further increased. A pilot production facility is being installed to start producing in 2010.
The Company has spent the last months re-thinking the way its startups are created and developed, in order to find a method that blends traditional and new-economy approaches (see Activities link above).
To summarize, the Company has come out of the recession with...
- new-economy concepts ready to start.
- new product lines in luminescence.
- product-lines of inflatable panels for sports, casual furniture and veterinary.
- no institutional debt.
- reduced number of shares.
Shareholders are invited to propose products to their local municipalities and the Company will follow up with a sales visit.
Selling your shares:
Now re-organized to function in a slower economy, the Company can turn to helping those shareholders who are seeking to sell their shares. The new activities are attracting new shareholder groups who will bring new expertise and relationships into the company. The Company plans to have arranged sales for selling shareholders by the end of first quarter 2010.
After bouncing back from a depressing and tiring year-and-a-half of commercial setbacks and legal stress, the Company is now fully energized again with its new business model and looking forward to 2010.
Due to the workload and the constantly changing legal situation over the last year and a half, communication with shareholders was not good and special attention will be given to getting this back on track. There will be an online discussion platform here in the website for news and questions.
"Eadem mutata resurgo"
Mike Harrop - CEO
http://www.harrop.info
Denver and Geneva, October 2009.
