Eurasian Holdings started in Denver CO in 1997. It was incorporated in 2004 at the request of some German investors who owned shares in various problem startups in Germany, and who wished to restructure their shareholdings. It was decided to use their shares to seed Eurasian Holdings Inc, and gradually add new projects while disengaging from their original problem shareholdings. Liquidity for shareholders would come from a share quotation on a small-cap exchange, or from private sales of the shares, or from distributing assets to shareholders, or in exchange for consulting and other work done for shareholders by the company. The company's initial areas of development would be as follows, primarily in health-related projects:
Real estate projects related to health and fitness
Luminescent products for architectural, safety, and camping applications
Alpine organic herbals for health teas, beverages, powders, and condiments
Instant low-cost health and fitness concepts for the public and for organizations
By 2007, several projects were developed and launched. These included Curtisium™ luminescent products (safety flooring, ceramic and glass tiles, stucco friezes, paving, garden items, bulk sheeting for electricity-free signage, lighting add-ons, camping items, household safety items for the elderly), Argekim™ luminescent paints, and Alpfactory™ organic alpine herbals. In real estate, options in health-center projects were optioned in France (a mountain health center property rebuild with views over Lake Geneva, the Alps and Mont Blanc), Switzerland (a wellness center in Verbier), and Lebanon (a large new sport and wellness center with spectacular views over Beirut and the Mediterranean).
The financial and real estate crisis of 2008 happened when the company's initial funds had all been invested in product development but before regular sales had time to develop. Due to the crisis, further early-stage funding became impossible to find. With worldwide real estate activity hit by the sub-prime meltdown, the real estate projects became embroiled in litigation, obliging the company to terminate them and cancel the shares that had been issued. As part of the restructuring, all functioning projects, including the herbals and luminescence businesses, were distributed to shareholders. These asset transfers left the company with no activities. The company therefore started developing other potential startup ideas identified in the original business plan, especially those where little investment was required. These included Breakpad™ inflatable safety floors for sports and martial arts, and FitChat™, Rolo™, IronButt™, and StreetMoves™ social exercising concepts. To provide cash for development of these new projects, passive shareholdings were sold (in USA: Lumitec and Kolorfusion, and in China: Forlink, Jade, Pacific Alliance). The Breakpad™ inflatable safety floor product, developed in South Korea, works perfectly but its price and weight are still too high. The public exercise projects are now managed via licensee entities. By 2019 the company had terminated litigation, completed its re-structuring, and developed a website for the new businesses enabling it to start operations again. There is residual debt which is being paid off out of cash flow. With no further need for its costly holding structure, the company re-structured. All affiliate entities were closed. The large reserve of shares originally earmarked for real estate options was cancelled, allowing the number of authorized shares to be reduced from 100m to 10m. For convenience, the nominal share value was increased to $0.10 per share.
The company's original business model included a US small-cap share quotation which would have created a public market for the shares, but changes in US accounting and regulatory practices due to the financial crisis and the Enron case made the shares of small holding companies prohibitively expensive to list. Brokerage firms would no longer sponsor such share listings unless they were backed by large private equity or venture capital funds. Because of this, the only alternative to a direct listing became a merger into an inactive already-listed company. However, demand for such inactive already-listed companies had recently been boosted by cash-flush new buyers from China seeking a quick US listing as part of their international image. As a result, prices of such inactive already-listed companies rose far above the levels allowed by our business model, therefore closing this possible route to liquidity. As an alternative, we discussed with European and Asian small-cap stock exchanges, but due to the financial crisis all of them were introducing new requirements of several years' existence and profitability before accepting a company's request to list its shares, essentially closing the stock market route to small new companies not funded by large private equity or venture capital groups. As an alternate way of creating share liquidity, Eurasian started a program where shareholders could buy or sell their shares privately. Shareholders indicate their wish to buy or sell a block of shares, and at which price limit. Offers are made to these shareholders by buyers and sellers from time to time. A considerable number of shares has already changed hands in this way or by shareholders buying or selling directly themselves.
- The 2021 Annual Meeting was held on May 31st, 2021.
- This was a year of keeping everything going until covid is brought under control. Our low-cost solutions for corporate health and compliance continue to be useful for employers, especially if people are doing a lot of work-from-home which involves even more hours per day sat in front of screens, a negative for health.
- Until we have better visibility of the post-covid economy, Fifteening's contribution to Eurasian, including payment of all Eurasian's costs and overheads, continues at the same level as previous years.
- Share quotation and valuation: these remain the same as at the end of the 2018 report below.
- The 2021 report should be read in conjunction with previous reports.
- The 2020 Annual Meeting was held on May 31st, 2020.
- We hope that the drop in economic activity in 2020 will make our low-cost solutions more interesting for users, although employers may have more pressing uses for their cash during covid than investing in their employees' daily fitness.
- Thanks to deficit-driven government hand-outs and loans, companies have so far been cushioned from paying the real price of the unsustainable fundamentals that underlie many industries and services. The real test starts in 2022.
- Until we have better visibility of the post-covid economy, Fifteening's contribution to Eurasian, including payment of all Eurasian's costs and overheads, will continue at the same level as previous years, as will Eurasian’s debt level.
- The 2019 Annual Meeting was held on May 31st, 2019.
- After several years of low visible activity, the company has now completed the invention and development of the concepts that compose its core business. We plan renewed marketing activity during 2020. We hope that with the widely forecasted drop in economic activity in 2020 our low-cost solutions will be more interesting for users.
- The last concept to be added is "10 Billion Gardens", which is a tool for greening one's life and reacting to stress and depression. It also aims to help people re-use some of their food waste, one of today's major ecological targets.
- Fifteening remains the main revenue activity while the other concepts help to promote Fifteening.
- Fifteening's contribution to Eurasian, including payment of all Eurasian's costs and overheads, was Eur 100,000 in 2019 (Eur 70,000 in 2017 and Eur 80,000 in 2018).
- Eurasian’s debt is now down to Eur 230,000 (Eur 250,000 in 2018).
- The 2018 Annual Meeting was held on May 31st, 2018.
- In 2018, Eurasian continued to build the business of its licensees. Some new licensing ideas will be introduced in late 2019.
- Some shareholders requested a name-change for the company from "Eurasian" to better reflect its current activities. It was decided that for the time being a name-change would not add anything to the company and could possibly confuse shareholders. It may be decided later.
- Eurasian was promoted less in 2017 and early 2018 due to time lost on some now-resolved legal disputes.
- Fifteening's contribution to Eurasian, including payment of all Eurasian's costs and overheads, was Eur 80'000 in 2018 (Eur 70,000 in 2017).
- For the new “Kicktouring” project, we are still defining the business model. The slow-travel sector should have a strong future. We forecast first license contributions to Eurasian in 2019.
- Eurasian’s debt is now down to Eur 250,000. Licensee revenues will be used to reduce debt, to cover the costs and overheads of operating Eurasian, to support licensees, to accrue dividends, and to purchase discounted share-blocks from shareholders.
- Fifteening users: we estimate that there are now about 1,000,000 Fifteening users worldwide, divided between paying corporate users and non-paying private users (many of these will hopefully convince their employer to become a paying corporate user). We have also encouraged some charities to use Fifteening Social Tools for free because this is useful promotion for Fifteening.
- Dividend: we have accrued a very small and symbolic shareholder dividend for 2018 which could be distributed to shareholders when we have the first cash available after reducing our debt position.