Aisystems, Inc. (fka ASYI)

[mortalmyth]

WholesaleL2, that's probably not a bad idea. It's been so long since anyone has heard from ASYI, back in 2012, I'm sure there are some new eyes on the stock that could use some assistance in quickly finding out the down and dirty facts about what has happened to the company.

Yeah Im only here to warn people not to lose money... derp derp

To summarize, three weeks ago ASYI was revoked by the NVSOS and it is currently awaiting suspension by the SEC due to lack of information being made available to the investing public (e.g., haven't filed in 2 years). As of their last 10q-10-ka made in 2012, they have discontinued operation and the CEO has left for a new job.

The CEO left the company with over $8 million in debt and an A/S limit of 5 Billion shares. Just how many of these shares have been issued and sold into the market is anyone's guess, as there is no one, including the TA, that can be contacted to give a verifiable status. However, based on the multiple volume surge periods witnessed intermittently over the past 18 months, it's reasonable to expect that lots of shares were successfully unloaded with investors/speculators picking them up and churning them as time has marched forward with no new news from the vacant company. The following information was described in their 2012 documentation.

8.
Discontinued Operations
On March 13, 2012, the Company divested its subsidiary AIS pursuant to a Stock Transfer Agreement (the “STA”) with Rocmar Farms Limited (“Rocmar”). (Paid ASYI $4,041,278)
While the Company recognized revenue from a previous sale to an airline client, the Company did not earn any revenues from operations in 2011.(Rocmar)
On October 14th, 2011, except for our CEO/CFO, AIS terminated all of its remaining employees as it was unable to meet payroll commitments
On April 5, 2012, the Company increased its authorized shares of common stock, $0.001 par value, from 300,000,000 shares to 750,000,000 shares. Raised to 5 billion shares on May 25, 2012.
On September 7, 2011, Dynamic Intelligence Inc. (“ Dynamic ”) provided the Company with a Notice of Non-Renewal, pursuant to an Intellectual Property Agreement (the “ Agreement ”) entered into by the parties on December 9, 2005. Pursuant to the terms of the Agreement, the term of the Agreement would be automatically and continuously extended in one (1) year increments unless either party provided notice of non-renewal at least ninety (90) days before the end of the then-current term. Due to Dynamic’s Notice of Non-Renewal, the Agreement will not renew on December 9, 2011.

No offices anywhere in both USA and Canada.
(A) Lease obligations

The Company previously leased office space in Kirkland, Washington (to April 2011), Bellevue, Washington (to May 2011), and Toronto, Ontario. Total lease expense was $101,431 and $780,870 for the years ended December 31, 2011 and 2010, respectively. In April 2011, the Company terminated its Kirkland lease and agreed to a settlement amount of $180,000 payable in monthly installments over a 36 payment period starting in July 2011. The Company is currently in default under the conditions of this settlement agreement.