6. I thought that Eyston may be supplying the Japanese markets, but I was wrong. Eyston is still proactively seeking licenses in this market and Chinese markets, but no time frame for potential success can be estimated according to the CEO. Universal has little to say in the matter, as license approvals are being sought by their JV, of which they have limited control. Grossblatt agreed that at some point this process should increase equity stake in the JV and boost their sales robustly. If licenses are approved and Eyston markets are expanded concurrently with a US housing rebound, or simply the anticipation of one, in the next 1-3 years - this stock may reach new highs.
6. Net Income. Net income for the three and nine months ended December 31, 2008 were $1,273,660 and $3,592,801, respectively, compared to $1,120,235 and $2,991,477, respectively, in the comparable periods last year. The 13.7% and 20.1% respective increases in net income for the three and nine month periods were due primarily to changes in the mix of products sold and gross margins as noted above
while on the Liquidity front, Cash needs of the Joint Venture are currently met by funds generated from operations. During the nine months ended December 31, 2008, working capital increased by $2,740,191 from $8,953,871 on March 31, 2008 to $11,694,062 on December 31, 2008. Earnings at Eyston are approaching levels (approx 33% less) than when UUU was trading at 30$ per share. Meanwhile they are as liquid as ever as working capital is at a record high. I'm not sure why UUU only added 460-470K to earnings from the JV, but actual earnings were $1,273,000.