I've been using EM1 for years and I love it! It is very easy to 'stretch' the liquid in the bottle you bought by mixing 1 part EM, 1 part molassas and 10 parts water. Release the cap on the bottle everyday as gasses build up. 10 days later you will have the equivalent of what you bought....
As long as there are specks on the top of the EM you have active culture. I use it to water in a granular fert. made with fish meal...stinks to high heaven and the dog loves to tip up pots to eat the fishmeal. Watering it in with EM removes the odor.
Yes, molassas feeds the organisms in EM ... good properties for the soil as well.