Eternal Image, Inc. (OTC:ETNL.PK), a public company engaged in the design, manufacturing and marketing of licensed brand image funerary products such as caskets, urns, monuments and vaults, today announced it has recently completed the first round of responses to the Securities and Exchange Commission's comments regarding the S-1 (formerly SB2) Registration by Eternal Image. The company is seeking to move its stock from the Pink Sheets to the OTC Bulletin Board.
"We have reached a milestone in the process and continue to follow the path set for us by the SEC," said Jim Parliament, CFO for Eternal Image. "Our S1 registration has been submitted to the SEC along with EI's responses to SEC comments covering the first filing."
Parliament also commented on the company's Fiscal 2007 sales figures, which were also uploaded to EDGAR today.
"EI booked sales of $309,147 in our first full year of operation," he said. "These sales close the loss gap by 50% over 2006, a trend we anticipate will continue as new products become available later this year."
Net operating loss for 2007 is $2,461,902 compared with $4,987,272 for 2006. Revenues for 2007 were $309,147 against sales of $0.00 in 2006.
Eternal Image will distribute its first licensed image caskets this fall. It will also display complete product lines at the upcoming National Funeral Directors Association Expo in Orlando this coming October, where it plans to debut new product lines and line extensions.
Release of this information is in accordance with SEC regulations in compliance with Eternal Image S-1 application. For more information about Eternal Image, visit www.eternalimage.net.
About Eternal Image
Eternal Image, founded in 2002, is headquartered in Farmington Hills, MI. The company is the first and only manufacturer and marketer of licensed brand image funerary products. Currently, the company offers urns and caskets that feature licensed images from Major League Baseball„STAR TREK, Precious Moments, and the Vatican Library Collection„ as well as pet urns featuring the American Kennel Club, and Cat Fanciers'™ Association. For more information about EI, visit www.EternalImage.net or call 1-888-6-CASKET.
About OTC:BB
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SAFE HARBOR STATEMENT
Statements in this news release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to risk factors inherent in doing business. Forward-looking statements may be identified by terms such as may, will, should, could, expects, plans, intends, anticipates, believes, estimates, predicts, forecasts, potential or continue or similar terms or the negative of these terms.
Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
