HISTORICAL EVENTS
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updated 
 
DISCLAIMER
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I take no responsibility for the timeliness or accuracy of the contents of this page. However, I have verified the information to the best of my ability. The source of the information is noted wherever possible. Please inform me of any errors or omissions you may find.
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Should you find yourself inclined to invest in this company, do your own homework
 
Eutro Group Holding Inc. declares 'dividend'
January 14, 1998
Eutro announces a 'dividend' of shares received when bringing Freedom Medical public. 10,000 shares of Eutro brings a dividend of 17 shares of Freedom Medical. Less than 10,000 shares of Eutro brings a cash dividend. The cash dividend is calculated at 17 dollars per 10,000 shares of Eutro. The record date for the dividend is Friday, Jan. 30, 1998 
 
Source: Yahoo
 
Eutro Group Announces Management Changes
January 12, 1998
Eutro takes on Mack Hunter and William Burckart as directors of the board. Dan Birbilis is appointed president and Brad Wilkenson is appointed vice president. 
 
Source: Yahoo
 
Pro rata distribution of stock from clients
December, 1997
Eutro declares general 'dividends' of client stock. From the December '97 newsletter: 
      
    The first topic concerns the recent addition of financial consulting to Eutro's activities. We advise privately owned small to medium sized enterprises on how to get into the proper posture to raise money from the securities markets. Eutro is compensated in both cash and in stock of the clients' enterprise. 

    The stock will be distributed pro rata to our stockholders. Particulars on each distribution will be provided to you. There are several such clients in the pipeline of which you can expect to receive your share of the common stock earned by Eutro. We feel it is proper to inform you that existing securities regulations impose a six month waiting period before Eutro can effect the distribution to you. Since we all are law abiding citizens, we will comply with the law and you may rest assured the stock will be distributed to you just as quickly as is legally possible.

 
[For a discussion on the second topic referred to see the editorial page.] 
 
 
Source: Eutro newsletter #3 December 1997
 
Final tally for preferred offer
December, 1997
Final count shows that over 22 million shares of common stock has been converted into preferred stock. 
 
Source: Eutro newsletter #3 December 1997
 
Bio-Analytic 4Q Sales
October 8, 1997
Eutro reports that Bio-Analytic 4Q sales is up 162% to $304,000. Sales for the year 1997 is up 60%. 
 
Source: Eutro news release
 
Eutro signs agreement with Santiago Cigar
September 9, 1997
Eutro is appointed financial consultant to Santiago Cigar Company. Eutro expects gross proceeds of approximately $450.000. 
 
Source: Eutro news release
 
Preferred exchange update
September 4, 1997
Eutro submits 15 million shares of common stock to TA for conversion to preferred stock. 4 million more are being processed reducing the total issued and outstanding by 19 million shares. 
 
Source: Eutro news release
 
Preferred exchange update
September 2, 1997
The first 300.000 preferred shares and accompanying warrants are being processed. 
 
Source: Eutro news release
 
Eutro finalizes agreement with Freedom Medical
September 2, 1997
Eutro signs contact with Freedom Medical Holding Group, Inc. to act as financial and management consultants. The contract runs for one year. Freedom Medical expects to go public on the BB within 60 days. Eutro will receive approximately $250.000 worth of cash and stock. 
 
Source: Eutro news release
 
Exchange for preferred stock offer extended
June, 1997
The offer to exchange common stock for preferred stock is extended to August 30. 
 
Source: Eutro newsletter #2 June 1997
 
Annual Summary for 1996
January 27, 1997
Information regarding a pill that lowers blood cholesterol and a home test kit for evaluating the efficiency is disclosed. Also, two new companies are targeted for acquisition. These two together with Diagnostic Specialties are to be acquired 'soon'. 

The plan-of-action as per the document 'Premise' is: 

    1. Acquire more distributors and customers.
    2. Acquire certain diagnostic companies that will contribute additional products and greater distribution to our broad base.
      
    New acquisitions are specified by: 
     
    1. It has been established for a minimum of five years.
    2. It has annual revenues of at least a million dollars consistently over the last several years.
    3. It has products that we can use that will add to our product base.
    4. It possesses a margin of profit that will contribute to the bottom line of Eutro.
      
    The goal is to eventually provide one stop shop for commercial labs, hospitals and doctors offices. 

    About six potential targets for acquisition exist that could contribute significantly to Eutro. However, distribution is key and a distributor has been contacted that may contribute with up to $2.8 million dollars if an acquisition is made. 

    Including the planned acquisitions Eutro will have revenues of approximately $9 million dollars with a profit margin before tax of 12%. Industry average being 8-12%.

 
Source: investors information package, document titled 'Eutro Group Holding, Inc. Annual Summary' and document titled 'Premise'
 
Staff changes
January 15, 1997
Mr. John O'Keefe (Corporate Chief Financial Officer) and Mrs. Vicki Lavache (Secretary/Treasurer), both Corporate Directors, leaves the company. 

Mr Albert Shackelton and Mr. Daniel Birbilis rejoins the company. Mr. Birbilis will assume the position of Secretary/Treasurer. 

Mr. Shackelton and Mr. Birbilis will join Mr. William Herndon, President of Bio-Analytic, on the Executive Advisory Committee to assist and advice Floyd Wilkenson in expedition of Acquisitions and Contracts for New Products, as well as Marketing and New Product Development activities. 
 

Source: Investors packet, Document titled 'Letter to stockholders' dated January 27, 1997
 
Special Product subsidiary deal goes sour
During 1996
To generate revenue to sustain Eutro and Bio-Analytic during 1996, an attempt to start a subsidiary, Special Products, was made to handle a contract with another company to make a dietary supplement product. This contract was not honored and no revenue was generated. 

This situation forces Eutro to obtain funds from the issuance of common stock according to Reg. D. 
 

Source: Investors packet, Document titled 'Eutro Group Holding, Inc. Annual Summary'
 
Eutro enters letter of intent with Diagnostic Specialties, Inc.
December 3, 1996
Eutro enters into letter of intent to purchase Diagnostic Specialties, Inc. Diagnostic has a history of R&D and some manufacturing capabilities that is intended to greatly complement activities at Bio-Analytic Laboratories, Inc. 
 
Source: Eutro news release
 
Bio-Analytic announces agreement with Diagnostic Specialties
July 26, 1996
Diagnostic Specialties undertakes to examine versatility of the newly patented immuno assay slide device. 
 
Source: Eutro news release
 
Cease and desist order entered against Floyd Wilkenson
May 9, 1995
The SEC finds Floyd D. Wilkenson in violation of the rules of reporting his holdings in Eutro. 
 
Source: SEC News Digest, Issue 95-98, Search for 'Eutro'
 
Freedom Medical caught in FTC crackdown 
May, 1995
Freedom Medical caught in wheelchair fraud. [Edited: Caution! This may not be the Freedom Medical that Eutro is bringing public. Investigating.] 
 
Source: HNC: BCBSUW Fraud Team, Search for 'Freedom'
Source: HNC: BCBSUW Fraud Team, Search for 'Freedom'
Source: U.S. v. Freedom Medical, Inc. et al.
 
Foundation
September 1991
Eutro Group Holding, Inc. is organized following the reverse acquisition with Bio-Analytic Laboratories, Inc. The purpose of Eutro is to help small companies grow. The services range from financial consultation to outright acquisitions. The below text are from the 'Summary Overview' in the investors packet. Due to the strong links Eutro has with Bio-Analytic the text is slightly unfocused, however it does outline the shape of Eutro: 
    Eutro Group Holding, Inc. is involved in providing capital to bring new products to market, technical assistance to develop marketing and sales opportunities and furnishes a strong management core, with over 70 years experience in securities, investment banking and management consulting. 

    Eutro's newest endeavor is to assist companies to obtain the proper posture to raise capital necessary for these companies to become successful. In addition, Eutro acts as management and financial consultants. 

    [...] 

    Eutro Group Holding, Inc.'s businesses, directly and through its subsidiary, is centered on their core services: production, selling and distribution of a wide assortment of health products to a broad array of wellness products to consumers, and professional management advice. 

    [...] 

    Eutro was originally conceived as a holding company which would have as its primary activity the maximization of the value of its security portfolio. Its modus operandi was to have been proactive investment banking, meaning that it would actively seek to implement its investment concepts rather than simply wait for potential clients to approach it. While there may be a mega difference in size, the basic concept is similar to that of Berkshire Hathaway. Simply stated, Eutro will be compensated in three possible ways for the services it renders to its clients. First, is a cash payment to cover actual expenses and leave a profit. Second, is a block of the clients common shares. Third is the possibility of an ongoing relationship with the client as financial consultant/advisor. 
     

Source: investors information package, document titled 'Summary Overview'