I spoke with Virginia Sourlis, the lawyer assisting AECS and the new owners.
The new owners are called Not By Sight Entertainment (not currently public, but going public via AECS), run by Brent Martz. Look at the news below copied off their website, www.notbysightentertainment.com
"November 7th, 2007
WOW - Exciting News
God answered our prayers directly this past week and supplied the investment partner that we needed to take the next steps. Within the next six weeks, we should be receiving our initial funding that will open our doors as well as produce our first feature film, Scalawags, and produce our first music artist."
They are an entertainment co out of CA and I am guessing that the action the last couple of days relates to their having got the funding and this going forward.
The first thing that will happen is that pinksheets will be updated to reflect the new company info and the details have already been submitted. Virginia says this process normally takes 2 - 3 days, so it could happen at any time.
She says that it will take about a month for the RM to be completed and that there will be a new cusip and symbol number.
WANG found out a while ago that the float is roughly 4 million shares and all the OS info etc. is in the ibox.
Another important point is that there is a high probability that there won't be a RS, because AECS already had one last year and there have been no pump PR's and share dumpage since then, so this hasn't been diluted since the last RS IMO. It was all done to clean the shell ready for the new owners.
Reverse Split already took place. See below:
Monday , August 13, 2007 14:50ET
According to the NASDAQ Dividend List, AEC Holdings, Corp. (OTC: AECH) are expected to effect a reverse stock split on August 14, 2007. This 1-100 reverse stock split was originally declared on August 13, 2007.
DECL-DATE X-DATE REC-DATE PAY-DATE
----------- ----------- ----------- -----------
08/13/2007 08/14/2007 N/A N/A
AMOUNT: 1-100 reverse split
ADDITIONAL INFO: New symbol: AECS.
CIK number 0001045284
80mil shs are restricted.
Float under 4 mil shs.