A message from Clint Mytych, CEO

As you read this we are completing plans for our new trade show exhibit, which will be unlike any exhibit ever built for a funeral industry trade show. Let’s just say it is in keeping with our progressive and industry leading reputation.  We will debut the exhibit at the National Funeral Directors Expo (October 7-10) in Las Vegas. Word has it that the funeral home distributors that have displayed our products at regional shows this summer have been flooded with interest; we expect our new 20’x30’ booth to attract quite a bit of attention as well.

In the meantime, a great deal has been happening here, from the completion of our audit (see our web site for details: www.eternalimage.net) to the recent announcement concerning the formation of Eternal Image Europe, plus our newest product line extensions. We continue to seek new licenses and hope to have one or more special announcements in the coming months.  

Read below for more news and check the website for continuous updates (and news release archives.) Thanks to all of you who believe in our mission! - Clint

A Lesson in Timing: Jim Parliament talks about

the audit process

This week we reached a major milestone; the completion of our audit which is a prerequisite to file the 10SB. The audit was a very involved process. The most frequent question we received from shareholders was, “Why did it take so long?”  The short answer is that an audit takes as long as it takes. The auditors have prescribed steps that the company being audited does not control.

Here’s the long answer: more than 2000 people hours were logged on the audit by Eternal Image, our supporting CPA firm and our auditing firm. During the course of the audit, EI responded to hundreds of questions regarding our company and our financial statements. This included responding to emails and phone calls while providing source documentation (some more than two years old) for a great many transactions. This kind of examination is a very time-consuming process - one that quite frankly took us by surprise. But as we studied more about what other companies have gone through, we learned this is not uncommon.

Auditing has changed tremendously over the past decade. With the high profile collapse of a litany of corporate giants, Congress and the SEC have raised the "audit bar" significantly. The independent audit process is very involved and is governed by the PCAOB - Pubic Company Accounting Oversight Board. The audit examines in detail the financial statements to obtain reasonable assurance as to whether the financial statements are free of material misstatement (whether from errors, fraudulent financial reporting, misappropriation of assets or violation of laws or regulations that are attributable to the entity or to acts by management or employees.) The audit also examines and tests evidence supporting the amounts and disclosures in the financial statements, as well as internal company controls.

Why all of the rigor? To protect the shareholders. The completion of an audit signals whether shareholders can have reasonable assurances that there are no material misrepresentation in a company's financial statements, and confirms that there are no material weaknesses in internal controls. We appreciate our shareholders’ patience during this project. We believe with the successful conclusion of this audit project, our shareholders can have reasonable assurances that Eternal Image is reporting its finances correctly, has proper internal controls in place to protect the shareholders, and is a company that has tremendous growth potential. - Jim

Baseball without Borders

We’re often asked “which urns sell best?” so here are the standings going into playoff season:

1. Yankees

2. Red Sox

3. Cubbies.

Stay tuned to this race!

Have you heard? Before he passed away earlier this summer, Clete Boyer, former third baseman for the Yankees (1959-66; major leaguer from 1955-1971), asked his friend to make sure he obtained an official Yankees urn for his remains.  This request (which we helped fill through a distributor) sparked a creative idea: special engraving plates for MLB players, coaches and officials. The plates are black and etch out gold – and are available from our office.

Product News: Caskets are Coming!

It’s true: look for the Vatican Library Collection™ and Major League Baseball™ caskets to debut at the NFDA Expo in October. Our first Precious Moments® urn – a proprietary figurine design available nowhere else – will also debut. We will also anticipate to preview the new AKC™ and CFA™ Garden Stone products at the show as well.

Just for Shareholders

Want to display your confidence in ETIM? You will soon be able to purchase ETIM coffee mugs, t-shirts and rings that say “ETIM Shareholder” and buttons that allow you to show off your commitment (5 Million Shareholder; 10 Million Shareholder, etc.)  Watch our website for information and ordering details in the coming weeks.

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