On July 1, 2011, a Complaint was filed in the Superior Court of the State of California, in Orange County, California, by Trans-Pacific Aerospace Company, Inc. and one of our shareholders, Harbin Aerospace Company, LLC, against Monarch Bay Associates, LLC, a FINRA member firm, and certain of its officers, employees and affiliates, including David Walters, Keith Moore, Mathew Szot and Cardiff Partners, LLC (“Defendants”).
The Complaint alleges that Monarch Bay Associates entered into investment banking agreements initially with Harbin Aerospace and then subsequently with Trans-Pacific Aerospace based upon certain misrepresentations and omissions of material fact by Monarch Bay and its principals, David Walters and Keith Moore. The Complaint further alleges that Monarch Bay, Walters, Moore and Szot breached their fiduciary duties owed to Trans-Pacific Aerospace and Harbin Aerospace and otherwise engaged in acts of securities and common law fraud, professional negligence and unlawful practices under the California Business and Professions Code. The Complaint seeks, among other things, (i) general and special damages in an amount to be proven at trial; (ii) the rescission of certain material agreements entered into between Trans-Pacific Aerospace or Harbin Aerospace, on the one hand, and the Defendants, on the other, and (iii) the Defendants return of all cash and stock-based compensation received from either Trans-Pacific Aerospace or Harbin Aerospace in breach of the defendants’ fiduciary duties or applicable law. David Walters and Keith Moore are former members of the board of directors of Trans-Pacific Aerospace and Walters and Mathew Szot are former executive officers of Trans-Pacific Aerospace. The Defendants as a group are believed to own in excess of 11% of the issued and outstanding common shares of Trans-Pacific Aerospace. As the litigation is at a preliminary stage, it is not possible to predict the likely outcome of the case.
the facts of life...oh yeh...my ol man started singing this to me strangely one day..."let me tell you about the birds and the bees, and the flowers and the trees"
hmm...hmmm....hmmm. is that the facts of life you speak of...."thing called love" was in there. come on,
let's find the love here...lighten up shorty.why you so
uptight?...man you are scarin me, with your mystery and darkness.
Sure I did my DD, and my conclusion is 6 million in cash, no debt, a nice 12 million dollar facility fully 1.2 million more of sees they are holding back worth another 3-4 million dollars, stevia in the makes, and the double acreage they are planting this year should translate into nice sales for Q1 2013. I am in fact more excited about Q1 2014, I think they did not even prepare enough seed for this year, I think next year is when things will really get hot.