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AIRTRAX INC Message Board

  • jktexpat1 jktexpat1 May 20, 2008 10:26 AM Flag

    They took the 100 g's

    They took the 100 g's, prolonging this.

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    • well, i have been telling you all this for a long time. so dont act all angry and surprised.

      the death of the president and founder of a small company is terrible for all. they could not have recovered given that the groundwork was never properly laid.

    • I've had it...The scumbags broke me as they did the company. I have niether the resources or the time to file any lawsuits, this economy and the wooden sh_ts who control it have pinched the country and my bigger end too, just as the micro scum did here.

      I got out of the AITX business boys & Girls - yesterday...disgusted as digusted can be. This be a standing offer, anyone who does intitiate something and needs additional testimony, signiture etc..DO NOT hesitate to tell me and I will be of assitance.

    • yeah what does that mean exactly

      • 1 Reply to gbrobert2005
      • It means they caved into LH Financial, the remaining debenture holder, and that the "full rachets" associated with early shareholder positions and outstanding warrants have now been reset to $0.05. If fully exercised, the company will have 100 million shares outstanding and a minor amount of cash to operate = further reducing shareholder value to near zero. Effectively, the $100K permits lawyers and a few others to be paid and the company has been transferred into the hands of LH Financial. There is another outstanding debt of $500K that remains unsettled.

        Without a major, and I mean major, infusion of capital, there is nothing left to discuss as the rent must be paid, staff must be reassembled if possible and paid, Timken has to be convinced not to scrap the $2 million wheel inventory as scheduled, and the many angry Airtrax distributors have to be convinced that products are in the pipeline and on their way, which, of course, they are not.

        If there is a near-term pop on this news, shares will probably be sold short into the market as the vampires suck up the final bits of company value. I'm disgusted and how stupidly this has been played.

        Best regards...