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» Allstocks.com's Bulletin Board » Micro Penny Stocks, Penny Stocks $0.10 & Under » EYII - $210m China Deal - Cancels Toxic Financing

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Author Topic: EYII - $210m China Deal - Cancels Toxic Financing
cabbage22
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It appears that the tide could be turning for EYII. I know many have been watching this one for a while and awaiting the finalization of the $210m China Code Blue deal, proceeds to be used to pay off the Cornell Capital toxic financing deal that they had.

Well, the Cornell Capital Agreement has been cancelled, so I would guess that the contract finalization news is just around the corner. Dig into this one, see what you can find and tell me what you think. I've already made up my mind but I like hearing others opinions.

Cabbage

TERMINATION AGREEMENT

THIS TERMINATION AGREEMENT (the "Agreement") is made and entered into effective as of April 3, 2006, by and between EYI INDUSTRIES, INC. a Nevada Corporation (the "Company"), and CORNELL CAPITAL PARTNERS, LP, a Delaware limited partnership (the "Investor").

Recitals:

WHEREAS, the Company and the Investor entered into a Standby Equity Distribution Agreement (the "Standby Equity Distribution Agreement"); a Registration Rights Agreement (the "Registration Rights Agreement") and an Escrow Agreement all of which are dated as of May 13, 2005 (the "Escrow Agreement"). (Collectively, the Standby Equity Distribution Agreement, the Registration Rights Agreement, and the Escrow Agreement are referred to herein as the "Transaction Documents."

NOW, THEREFORE, in consideration of the promises and the mutual promises, conditions and covenants contained herein and in the Transaction Documents and other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto agree as follows:

1. Termination. Each of the parties to this Agreement hereby terminates the Transaction Documents and the respective rights and obligations contained therein. As a result of this provision, none of the parties shall have any rights or obligations under or with respect to the Transaction Documents.

IN WITNESS WHEREOF, the parties have signed and delivered this Termination Agreement on the date first set forth above.

EYI INDUSTRIES, INC.
By: /s/ Jay Sargeant
Name: Jay Sargeant
Title: President and CEO


CORNELL CAPITAL PARTNERS, LP
By: Yorkville Advisors, LLC
Its: General Partner
By: /s/ Mark Angelo
Name: Mark A. Angelo
Title: Portfolio Manager

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cabbage22
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In Case you missed the $210m News>

EYI Industries, Inc. Signs Chinese Agency Agreement With CEIEC
Monday September 26, 4:10 pm ET


BURNABY, British Columbia, Sept. 26, 2005 (PRIMEZONE) -- - EYI Industries, Inc. (``EYI'') (OTC BB:EYII.OB - News) http://www.StopDrinkingPoison.com, a marketer of products that promote well-being and a healthy lifestyle, is pleased to announce that its wholly owned subsidiary, Essentially Yours Industries (Hong Kong) Limited, has entered into an agreement for the sale of an undisclosed number of Patented Code Blue(TM) Water Filtration Systems over a 2-year period with China Electronics Import and Export South China Corporation (``CEIEC'') through its wholly owned subsidiary.
Subject to the provisions of the agreement, CEIEC may purchase up to an estimated US$210 Million worth of product as per the following Purchase Plan:


Fiscal 2006 (US$42,000,000)
---------------------------
Q1 = US$700,000
Q2 = US$2,800,000
Q3 = US$14,000,000
Q4 = US$24,500,000

Fiscal 2007 (US$168,000,000)
----------------------------
Q1 = US$31,500,000
Q2 = US$38,500,000
Q3 = US$45,500,000
Q4 = US$52,500,000

ADVERTISEMENT


Under the terms of the agreement, EYI will issue an Exclusive Agency Certificate to CEIEC, thereby granting CEIEC the exclusive right to distribute the Code Blue(TM) Water Filtration System throughout China for a period of two (2) years. In order to maintain exclusive agency rights in China, CEIEC must purchase a minimum of $21,000,000 in product in each of the years 2006 and 2007. CEIEC reserves the right, upon reasonable notice, to increase, or decrease, the number of Code Blue(TM) units that it purchases under the Purchase Plan, based on its evaluation of market demand in China. CEIEC will commence purchases under the Purchase Plan commencing in October 2005, and will place subsequent purchase orders on a quarterly basis.

The CEIEC, located in South China, is the largest exporter and importer of electronic products in China and was the first Chinese enterprise to establish sales and cooperative relations with foreign brand name enterprises such as Hitachi, Sharp, Mitsubishi, Panasonic, Siemens, Casio, Philips, Hewlett-Packard, LG and Samsung. Currently, CEIEC is under the direction of the Chinese government and has extensive business relations with nearly 100 countries and regions and imports/exports over US$1 Billion in products every year.

The Code Blue(TM) Portable Water Filtration System removes Arsenic and other contaminates to a negligible level from drinking water. China's large rural population and poor infrastructure in those outlying regions have created a huge demand for the Code Blue(TM) system which will facilitate the removal of harmful toxins from water, making it safe for human consumption.

Essentially Yours Industries (Hong Kong) Limited President and CEO Dori O'Neill stated, ``As evidenced by this agreement, our recent trip to Hong Kong proved to be very productive. Not only have we established the infrastructure to support our sales initiatives in Asia, we have inked an agreement with a well established and reputable company in China.'' Mr. O'Neill went on to say, ``We are extremely excited to see this agreement with CEIEC come to fruition as it opens up the world's largest consumer base and fastest-growing global economy to EYI.''

EYI's President, Jay Sargeant stated, ``This agreement with CEIEC represents many months of hard work and negotiations by the entire EYI team and we are very proud to finally announce that we have an agreement in-hand with CEIEC, which, if successfully completed, will be worth up to an estimated US$210 Million in sales over 2 years.'' Mr. Sargeant added, ``As always, we would like to thank our loyal shareholders who continue to believe in EYI and the EYI business model. I can assure you that we are doing everything in our power to create shareholder value.''

This press release is available on the company's official online investor relations site for investor commentary, feedback and questions. Investors are asked to visit the EYI Industries IR Hub located at http://www.agoracom.com/IR/EYI

Alternatively, investors can e-mail AGORA Investor Relations directly at EYII*Agoracom.com.

About EYI (http://www.StopDrinkingPoison.com )

--------------------
Keep your technical systems simple. Complicated systems breed confusion; simplicity breeds elegance.

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cabbage22
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Real nice move today

--------------------
Keep your technical systems simple. Complicated systems breed confusion; simplicity breeds elegance.

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stocks1984
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could be a potential breakout we have here take a look at the chart! http://stockcharts.com/h-sc/ui
tomorrow will tell us a better answer!

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stocks1984
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sorry the chart link is messed up
Posts: 1088 | From: Dallas, Texas | Registered: Feb 2006  |  IP: Logged | Report this post to a Moderator
cabbage22
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from http://www.otcbbtraders.com

Stock Alert! > EYI Industries Inc.
Ticker Symbol > EYII
March 31st Pick Price > $0.034
High Since Alert > $0.048 +42%
Target Price > $0.10
Market Cap > 8 million
Industry > Water Purification
Disclosure > We Own Shares
Rating > MONSTER BUY!

NEW UPDATE> EYII CANCELS CORNELL TOXIC FINANCING DEAL, 8-K * WWW.SEC.GOV !!!
EYII
Awaiting product approval in China, to unleash a $210 million deal. Under the terms of the agreement, Guangzhou CEIEC will acquire agency rights from EYI Industries to distribute the Code Blue(tm) filtration system throughout China, and will commit to the purchase of $210 Million worth of product. Rumors are circulating that its done!

--------------------
Keep your technical systems simple. Complicated systems breed confusion; simplicity breeds elegance.

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