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IARO: Does anyone here believes that IARO Management could have any involvement in the situation/information provided in the link; if so, I guess that we'll hear from management that they are now selling complete blocks of F 16 engines 
so we may finally see some movements from this death stock.
http://now.msn.com/f16-engines-stolen-from-israeli-airbase
So you're speechless about this whole mess? 
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A/S 1,750,000,000 Last known outstanding 289,000,000
International Aerospace Enterprises, Inc.
http://www.otcbb.com/asp/Info_Center.asp
http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=iaro#getQuote
DD Important Facts as of 09/09/10
Business Summary
International Aerospace Enterprises is engaged in the sales and marketing of military aircraft spare parts on a worldwide basis. Co. directly purchases finished military goods/manufactured aircraft parts and either takes on consignment, develops option purchase agreements, or other business procedures and means and arranges for the marketing, sales and processing of bids military aircraft spare parts that meet the standards necessary to be sold to the military industrial serving the U.S. government and or its U.S. Allies. Co. sells its products through its strategic marketing, sales and distribution consignment relationships with several national and international companies.
Registrant is International Aerospace Enterprises, Inc. (the "Company"). The address of the Company’s principal executive office is 123 West Nye Lane, Suite 129, Carson City, Nevada 89706. Principal business office located at 530 South GrandAve, Covina, CA 91724 (The Company leases the approximate 700 square foot office space and 3,600 square feet of warehouse space currently housing the company’s owned inventory consisting of 4,982 spare parts)The Company also has an Option Purchase Agreement for an additional 6,578 military aircraft spare parts located in northern California.( from Mar 31 10K)
IAE's management has conducted primary and secondary research in the military aircraft spare parts industry for aftermarket sales opportunities. Its research pointed towards unmet demands of military aircraft spare parts in the worldwide marketplace. The Company has identified a number of opportunities within this arena of the worldwide market which isn't being currently met. The size of the worldwide military/industrial complex market and the demand for products and services to meet the needs of both the United States Military and its Allies was approximately $439.3 billion for the fiscal year 2006.
1.The main reason for the PPS (shorted stock) is that IAE could not Recognize the Revenues of nearly $20,000,000 USD in 2009 because it did not meet one (1) of the four (4) basic criteria, in accordance with Accounting Standards Codification 605-10, Revenue Generation (ASC 605-10). ASC 605-10 requires that all four basic criteria be met before revenues can be recognized. The criteria is as follows: (1) persuasive evidence of an arrangement exists; this criteria has been met by IAE’s previously announced contracts. (2) delivery has occurred; this criteria could not be met because of IAE’s policy of not shipping military parts out of the United States, to potentially hostile foreign territories without advance payment having been made by the customer and received by IAE in advance of shipment. (3) The selling price is fixed and determinable; this criteria has been met in the detailed purchase contracts issued to IAE by its customer. (4) collectability is reasonably assured; this criteria has been met by the contracts terms which requires full payment in advance of shipment by following the company’s strict policy of “full payment before shipping”. The policy enables IAE to avoid booking substantial accounts receivable and the risk of nonpayment when selling to foreign entities.
2. IAE currently manages electronically over $300,000,000 (retail price) in accessible inventory advertised through Internet parts listings throughout the country and by interfacing with over 1800 of smaller military parts manufacturers and repair station companies who have spare parts inventories or who are currently holding excess inventory that can be purchased at discounted prices. The reason that many of these companies have excess inventories is that during the manufacturing run of military parts they typically overproduce parts in anticipation of further sales. IAE’s international marketing and sales structure utilizes their established International Brokers and IAE’s management experience and worldwide contacts provide a sales outlet that is not available to others.
3.Company is expanding:
The Company’s management is currently in negotiations to lease 10,000 to 15,000 sq. feet of modern office and warehouse space in order to relocate its current facility to accommodate additional inventories of military aircraft spare parts and the anticipated addition of both management and other needed personnel. The new corporate and inventory warehouse facility will be located in either Rancho Cucamonga or Ontario, California. The move is expected to occur within the next three months and will be a facility that is climate controlled with sprinkler fire protection and an electronic surveillance security system.(from Mar 31 10K)
4.Asset Purchase Agreement assessed value of approximately Eleven Million US Dollars ($11,000,000.00), hereinafter the “Military Assets”; IAE will agree to pay to SII an amount of One Million Dollars ($1,000,000.00) Purchased 12/11/2008
http://72.32.66.187/agreement-preview.aspx?num=639936
http://www.sunshineindustries.com/ (purchased from the following company)
IAE currently owns approximately $1,145,420 of in-house inventory and has under option purchase contracts or consignment agreements of approximately $100 million USD in aircraft spare parts. The company is also in negotiations with several entities in order to access additional military spare parts inventory. The company’s owned inventory is currently warehoused in Covina, California. The company intends to relocate its corporate office and parts warehouse to a new location of approximately 10,000 to 15,000 sq. feet and is looking in the area of either Rancho Cucamonga or Ontario, California. They are negotiating for modern offices and warehouse manufacturing space that is climate controlled, sprinkler equipped, and equipped with electronic surveillance security system
5.Revenues of nearly $20,000,000 USD in 2009
Information Memo is very helpful to explain details
http://www.internationalaerospaceenterprises.com/
6.Recent contracts 2009:
IAE Announces $2.45 Million USD Contract
Newest $5.4 Million Contract More Than Doubles (Trumps) IAE’s First Year's Sales Projections
International Aerospace Signs Contract for $4.1 Million USD
http://www.internationalaerospaceenterprises.com/index.php?option=com_content&view=category&id=1&Itemid=18
7. During 2009, IAE was able to implement a number of foundational business activities and make progress with several other endeavors such as : (1) operationalized its Initial Executive Business Plan; (2) initiated its Manufactures Cooperative Business Structure; (3) expanded its International Strategic Alliance Sales and Marketing Program; (4) adopted a Comprehensive Inventory Control Software System; (5) expanded its military parts Identification, Procurement, and Acquisition Program;(6) completed its “Branding Conversion change over” from Sunshine Industries USA, Inc. to International Aerospace Enterprises, Inc.; (7) interviewed Investor Relations Consulting Organizations who will restructure and initiate a comprehensive IR strategy for 2010; (8) retired significant corporate debt; (9) conducted on-going negotiations with NIR (the hedge fund holding IAE's convertible debenture which was inherited by IAE in its merger with Lifestem International) for the purpose of retiring the debt; and (10) exceeded its 2009 sales projection by over 300%. http://www.internationalaerospaceenterprises.com/index.php?option=com_content&view=article&id=77:open-letter-to-iae-shareholders&catid=36:management-comments&Itemid=30
Their website is very informative and most of the information can be found on their website. http://www.internationalaerospaceenterprises.com/
8.Management (Highly Educated and Experienced)
Written by International Aerospace Enterprises, Inc.
John M. Peck – Chief Executive Officer, Director
John M. Peck, age 63, was President/CEO of JOLIN Industries, Inc., from 2006 to 2009. Mr. Peck provided marketing and consulting services to aerospace companies and countries where he was involved in the purchasing and sales of military aircraft parts. From 2005 to 2006, Mr. Peck was a consultant to ACTMI where he was involved
in the creation of, and expansion thereafter, of ACTMI’s International customer base. From 2002 through 2005, Mr. Peck was a Procurement and Supply Chain Account Analyst and Buyer to Technical and Management Services Corporation (TAMSCO) as the Program Manager of Saudi Arabian Operations (in country) where he managed an annual budget of over $500,000,000.00 USD as a subcontractor to the United States Air Force headed by the United States State Department. From 1995 to 2001 Mr. Peck worked as a consultant to the Senior Vice President of Operations and Business Development for SR (Sperry Rand Corporation) on a systems development project designed to track the status of worldwide hardware purchases for the Kingdom of Saudi Arabia, United Kingdom and the United States. From 1993 to 1995 Mr. Peck worked with Hughes Aircraft Systems International on the “Peace Shield Program” with an annual operating budget of over $1 Billion USD.
Mr. Peck attended University of Maryland from 1963-1966, LaSalle Institute in 1969,
Troy State from 1978-1981, Calhoun College from 1983-1984 and California Coast
College from 1992-1994. Mr. Peck earned Military Schooling Diplomas in more than forty individual classes, with concentrations in computer science and logistics.
Saffet Uslu - President
Saffet Uslu, age 51, was President and CEO of Sunshine Industries USA Inc. for over a decade during which time he established new business inroads with the Turkish Government and captured significant sales for military parts and supplies. He also provided leadership and project management on re-modernization programs specifically
targeting retrofitting the T- 38 and F-5 vertical and horizontal stabilizers which included sub-contracting the manufacturing process and first article testing needed to ensure strict adherence to technical specifications and acceptance by the Turkish Air Force.
Mr. Uslu established and coordinated highly technical measurement technology for the Turkish Air Force maintenance and repair stations in Western Turkey. His project management included procurement, construction, installation and testing of technical
equipment.
Mr. Uslu also was in charge of purchasing a large number of military and commercial aircraft inventories in order to take advantage of supply market downsizing. His expertise in the development of a diverse customer base for both domestic and international sales generated millions of dollars in annual sales for Sunshine Industries USA, a private company.
While serving as President and CEO of Sunshine Industries USA, Inc., Mr. Uslu adopted ISO 9000: 2001 standards for procurement and inventory management which encompassed inventory management and financial systems designed specifically for the military spare parts industry. He further develop staff competencies which were designed to locate, price and provide competitive bidding for both military and commercial aircraft supplies as well as for equipment and spare parts throughout Europe, Canada and the United States of America.
Mr. Uslu's educational background includes receiving a Master's of Science Degree in Engineering from the University of Southern California. He received his Bachelor of Science Degree in Mechanical Engineering from Technical University of Turkey. Hefurther has been Certified as a Quality Control Auditor for ISO 9000: 2001 along with exceptional skills in Aerospace Parts Procurement using sophisticated search engines such as ISL, Parts Base, Haystack, and Fed Log, each chronicling the aircraft spare parts industry sales and pricing throughout the world.
Mr. Uslu is highly proficient in utilizing the Government managed search engines which are instrumental and indispensable to IAE's marketing, sales and bidding procedure
Sylvia C. Quintero
Secretary, and Treasurer
International Aerospace Enterprises, Inc.
Officer since January 2009
51 Years Old
Ms. Quintero, has served as our Secretary and Treasurer since December 2008. She is currently the Senior Business Manager at the University of Arizona, Department of Immunobiology. She also has served as Director of Finance for Arizona Aircraft Spares from 2003 to 2004. Prior to that, Ms. Quintero was the Business Manager for the University of Arizona Department of Journalism where her duties included supervision, oversight of daily business operations including accounting, payroll, budget and finance projections, purchasing and personnel hiring. Ms. Quintero earned a Masters in Business administration from the University of Phoenix in 1993 and her Bachelor of Science in Business Administration from the University of Phoenix in 1990. Ms. Quintero brings a number specialized skills to the Secretary/Treasurer role with the Company. The following is a rendition of a few of her skills: Bilingual - English and Spanish; Extensive PC and Macintosh knowledge; software experience including word processing, spreadsheets and website research; and accounting training for SEC filings. In her roles as the Senior Business Manager at the University of Arizona Departments of Journalism and Immunobiology, she has gained extensive online experience in payroll/ PSOS, SIS, FRS, PET and Pcard including UMS purchasing requisitions.
David W. McLarney, MBA – Director
Mr. McLarney, age 51, will serve as Head of the Company’s audit committee providing Board oversight for the company and its shareholders. Mr. McLarney is currently a senior airline Check Pilot and Flight Test Analyst for A 321, B 737/757 aircraft for U.S. Airways, Inc. He has been employed by U.S. Airways, Inc. since 1986.
He has also held the position of Deputy Director of Government Aerospace
contracting. In that position he managed over 80 contracting officers buying for 30 Federal Stock Supply classifications for the Joint Defense major deviation weapons system operations, support and maintenance. He was the Director of annual procurement for the U.S. Air Force which entailed purchasing over $35 million USD annually. While in that capacity he established the software procedures and audited DOD Prime Vendor Program aircraft part acquisitions and aerospace contracts.
Mr. McLarney was Executive Administrator for the U.S. Air Force squadron finance,human relations and training functions each under his command..
Mr. McLarney earned a Master’s in Business Administration from Saint Mary’s University, San Antonio, Texas and his Bachelor of Science degree in engineering and management while at the U.S. Naval Academy, Annapolis, Maryland. Mr. McLarney also attended Louisiana State University in Louisiana as a CPA Prep. Candidate. Mr. McLarney’s background as a Government Contract Officer with studies at the Defense
Acquisition University, Washington DC has provided him with excellent credentials to help direct the Company’s management in its future expansion and growth. He will provide the Company an Independent Board member with a unique capacity for integrating his extensive aerospace experience and direct procurement knowledge along with his finance and accounting education to assist in the guidance of the Board of Directors and corporate management.
8K/A Time-Line Very Positive JUST UPDATED
http://www.otcmarkets.com/stock/IARO/financials
Most importantly the company is communicating with shareholders
The KEY in the 8K (staff vacancy at corporate headquarters, management is expecting to fill and become fully staffed to handle significant accounts.) "Operations = Revenue = Profit = Hiring"
Most public accountants would not furnish such a letter, not because they do or don't agree; but they never get more involved than they have to, according to the first 8K there were some mistakes made in 2009 which the company admitted to and is now correcting (have a fully staffed accounting department at corporate office during 2010 to handle significant accounts.) but this still doesn't change the fact that some mistakes were made, so in order to keep the .OB status they must keep informing us until the 10Q is filed, which I am hoping for next week.
Started with this:
(a) On August 31, 2010, Turner, Jones & Associates, PLLC (“Turner”) resigned as International Aerospace Enterprises’ (the “Company”) independent registered public accounting firm.
08/27/2010 8K
The Company has requested that Turner furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above statements(FROM 8k Below). A copy of such if provided, will be filed by amendment.
09/07/10 8K
The Company has requested that Turner furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above statements (8K below). A copy of such letter, if provided, will be filed by amendment.
09/17/2010 8K/A
The Company has requested that Turner furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above statements (8K below). At this time, a copy of such letter has not been received by the Company and therefore cannot be filed. If a copy of such letter is sent to the Company, we will file an amendment to the Form 8K/A.
09/24/2010 8K/A
The Company requested on September 1 2010, that Turner furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above statements (8k below). We have received no response from Turner to date, and as such do not expect that Turner will respond to our request.
10/15/2010 8K/A "Letter from Turner"
We have reviewed the Forms 8K and 8K/A filed by International Aerospace Enterprises, Inc. regarding our withdrawal as the Company ’ s Certified Public Accountants and we are unable to comment on the accuracy of the representations made therein.
(What I expected typically public accountants don’t get involved more than they have to; I would say the key is that there was no fraudulent activity. Which should mean they could or have hired another public accountant and we should see 10Q very soon, I would think that the new accountant would want a letter from Turner before take on the task)
10/28/2010 "Letter from Turner"
We agree with the statements made by the Company with the exception of the notes being inadvertently omitted from the financials.
(Copy of the First 8K) 08/27/2010
Item 4.01 Changes in Registrant’s Certifying Accountant.
(a) On August 31, 2010, Turner, Jones & Associates, PLLC (“Turner”) resigned as International Aerospace Enterprises’ (the “Company”) independent registered public accounting firm.
In connection with the audits of the Company’s financial statements for the years ended December 31, 2009 and 2008 and in the subsequent interim periods through August 31, 2010 (the date of resignation) there were no disagreements with Turner on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Turner, would have caused Turner to make reference to the subject matter of the disagreement in its review of the Company’s consolidated financial statements for the years ended December 31, 2008 and 2009 except that the report for the year ended April 30, 2009 contained an explanatory paragraph stating that there was substantial doubt about its ability to continue as a going concern; . During the years ended December 31, 2009 and 2008 and through August 26, 2010, there were no reportable events as the term described in Item 304(a)(1)(iv) of Regulation S-K. Except as set forth below, there were no events otherwise reportable under Item 304(a)(1)(v) of Regulation S-K.
Turner has stated that their resignation was due to what they believed to be a lack of internal control over financial reporting that is needed to provide reasonable assurance that transactions are recorded accurately and on a timely basis. Management had concluded that our internal control over financial reporting was not effective as of December 31, 2009, due to control deficiencies in three areas that we believe should be considered material weaknesses and this was disclosed in our Annual Report on Form 10-K for the year ended December 31, 2009.
1. The Company did not sufficiently segregate duties over incompatible functions at the corporate headquarters.
The Company’s inability to sufficiently segregate duties is due to a staff vacancy at the corporate headquarters, which management expects to fill during the current year. Further, management has increased the frequency of independent reconciliations of significant accounts, which will mitigate the lack of segregation of duties until the accounting department at the corporate headquarters is fully staffed
2. In conjunction with the lack of segregation of duties, the Company did not institute specific anti-fraud controls.
While management found no evidence of fraudulent activity, the chief accounting officer has access to both accounting records and corporate assets, principally the operating bank account. Management believes this exposure to fraudulent activity is not material either to the operations of the Company or to the financial reporting; however, management has instituted Key Controls specifically designed to prevent and detect - on a timely basis -any potential loss due to fraudulent activity.
3. The Company did not institute, as of December 31, 2008, a whistle-blower policy and procedure as required by Section 301 of the Sarbanes-Oxley Act
The Company has requested that Turner furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above statements. A copy of such letter, if provided, will be filed by amendment.
_______________________________________________________________________________________________________________________________________________
Sunshine Industries USA (Acquired) by IAE?
700 Million A/S Float Should be about 350-500 Million
nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=th%252fPkQL8Zk66SsZC0VLtwA%253d%253d&nt7=0
Why I think these two companies are one (acquired by IAE)or they are merging.
I contacted Sunshine Industries USA and asked if they were one company or merging with IAE, they guy transferred me to someone else and he stated: “We are with IAE” (whatever this means.), but said he could not give me any more information and that MGT would contact me (they never contacted me, which makes since it’s confidential).
1. What we know about Sunshine Industries USA Inc:
Entity Name: SUNSHINE INDUSTRIES, USA, INC.
Entity Number: C2209165
Date Filed: 01/19/2000
Status: SUSPENDED
Jurisdiction: CALIFORNIA
Entity Address: 733 EAST ALISAL
Entity City, State, Zip: COVINA CA 91723
Agent for Service of Process: SAFFET USLU
Agent Address: 733 EAST ALISAL
Agent City, State, Zip: COVINA CA 91723
http://kepler.sos.ca.gov/cbs.aspx
Sunshine Industries usa inc. partner for RKI Instruments (in Turkey)
http://www.rkiinstruments.com/pages/international_partners.htm
5 – 10 (in the U.S alone) Employees (some found on Facebook (must log in into Facebook first) www.facebook.com/people/Savas-Yilmaz/552184916, http://www.facebook.com/people/Saffet-Uslu/663418608
Main markets: North America South America Western Europe Eastern Europe Ea
Location: 530 S. Grand Ave, Covina, California, United States
http://www.sunshineindustries.com/contact.htm
Will this is where IAE stated they were located. Do a simple google map and the address will match up with Sunshine Ind
IARO.OB The Company’s assembly, inventory storage and shipping facilities is currently located in Covina, California. The 4,400 square foot facility consists of two buildings located on 0.39 acres and is approximately one-half mile from the Interstate 10 freeway. The Company leases the approximate 700 square foot office space and 3,600 square feet of warehouse space currently housing the company’s owned inventory consisting of 4,982 spare parts. The Company also has an Option Purchase Agreement for an additional 6,578 military aircraft spare parts located in northern California. http://biz.yahoo.com/e/091116/iaro.ob10-q.html
PURCHASE OF THE MILITARY ASSETS
IAE hereby agrees to purchase all of the Military Assets located at Grand from SII.SII agrees to transfer to IAE all of the Military Assets immediately upon execution of this Agreement for the issuance to SII of the Shares.IAE agrees to pay SIIone million dollars.IAE agrees that the term of the Note shall be eighteen (18) months, with the understanding that IAE can pay the Note at any time during the eighteen (18) month period.Upon payment of the Note, SII shall return to IAE the Shares which shall be held in escrow.It is understood and agreed that after the Effective Date, IAE shall own 100%of the Military Assets and shall have full right and title to those Military Assets, and shall have the exclusive right to market and sell all of the Military Assets as IAE deems necessary and/or appropriate. http://72.32.66.187/agreement-preview.aspx?num=639936
7. During 2009, IAE was able to implement a number of foundational business activities and make progress with several other endeavors such as : (1) operationalized its Initial Executive Business Plan; (2) initiated its Manufactures Cooperative Business Structure; (3) expanded its International Strategic Alliance Sales and Marketing Program; (4) adopted a Comprehensive Inventory Control Software System; (5) expanded its military parts Identification, Procurement, and Acquisition Program;(6) completed its “Branding Conversion change over” from Sunshine Industries USA, Inc. to International Aerospace Enterprises, Inc.; (7) interviewed Investor Relations Consulting Organizations who will restructure and initiate a comprehensive IR strategy for 2010; (8) retired significant corporate debt; (9) conducted on-going negotiations with NIR (the hedge fund holding IAE's convertible debenture which was inherited by IAE in its merger with Lifestem International) for the purpose of retiring the debt; and (10) exceeded its 2009 sales projection by over 300%. http://www.internationalaerospaceenterprises.com/index.php?option=com_content&view=article&id=77:open-letter-to-iae-shareholders&catid=36:management-comments&Itemid=30
Saffet Uslu, age 51, was President and CEO of Sunshine Industries USA Inc
http://www.internationalaerospaceenterprises.com/index.php?option=com_content&view=article&id=63:saffet-uslu-president&catid=34:management-resumes&Itemid=29
Saffet Uslu, is the president of International Aerospace Enterprises Inc
Sunshine Industries USA Inc (status Corporation is SUSPENDED) it only cost $25 to renew?? So if they were acquired by IAE, this would make since.
http://kepler.sos.ca.gov/cbs.aspx
http://www.sunshineindustries.com/contact.htm
____________________________________________________________________________________________________________________________________________
California Secretary of State & D&B Updated “New"
Entity Name: INTERNATIONAL AEROSPACE ENTERPRISES, INC.
Entity Number: C3241316
Date Filed: 01/21/2010
Status: ACTIVE
Jurisdiction: NEVADA
Entity Address: 530 S GRAND AVE
Entity City, State, Zip: COVINA CA 91724
Agent for Service of Process: SAFFET USLU
Agent Address: 733 E ALISAL ST
Agent City, State, Zip: COVINA CA 91723
http://kepler.sos.ca.gov/cbs.aspx
The Company’s management is currently in negotiations to lease 10,000 to 15,000 sq. feet of modern office and warehouse space in order to relocate its current facility to accommodate additional inventories of military aircraft spare parts and the anticipated addition of both management and other needed personnel. The new corporate and inventory warehouse facility will be located in either Rancho Cucamonga or Ontario, California. The move is expected to occur within the next three months and will be a facility that is climate controlled with sprinkler fire protection and an electronic surveillance security system.(from Mar 31 10K) (this was posted in March 31 10K) their address was updated 2weeks ago, and the 2nd address is the same as Sunshine so what I said before about them acquiring Sunshine is making since)
HQ INTERNATIONAL AEROSPACE ENTERPRISES, INC.
1740 W KATELLA AVE STE H, ORANGE, CA Select
INTL AEROSPACE ENTERPRISES INC (Same as sunshine)
530 S GRAND AVE, COVINA, CA
https://smallbusiness.dnb.com/ePlatform/servlet/IballValidationCmd?lookupType=AdvancedCompanySearch&searchType=NSF&state=CA&storeId=10001&catalogId=70001&productId=0&manPartNumber=0&fromView=&hiddenSessionId=-280796436&skipIPValidation=YES&searchPerform=true&busName=International+Aerospace+Enterprises%2C+Inc&address=&city=&zipCode=&country=US
[b][u]UPDATE ON A/S & SEC filing link below[/u][/b]
[b]A/S 1,750,000,0000 A/O 11/19/2010
Last known outstanding 289million A/O 05/14/2010[/b]
The Board of Directors believes that authorizing it to effectuate this increase in the number of authorized shares is in the best interest of IAE and its stockholders in that it could be obligated to issue common stock upon conversion of certain existing outstanding convertible debt in excess of the amount authorized and it will provide the Company with available shares that could be issued upon such conversion and for various corporate purposes, including acquisitions, stock dividends, stock splits, stock options, convertible debt and equity financings for other corporate purposes which may be identified in the future, as the board of directors determines in its discretion [b][color=red]At April 30, 2010, IAE had 73,557,015 shares of common stock available for issuance which we believe will not be sufficient to satisfy all outstanding debt obligations At April 30, 2010, the outstanding principal balance of our convertible debt is approximately $962,000,000[/color][/b]. [color=red][u]Since our debt does not convert into shares of common shares at fixed prices[/u][/color] (certain debt converts at a rate of 40% of the average of the three lowest intraday trading prices for our common stock during the 20 day period before the conversion and other debt converts at a rate equal to 50% of the average of the five lowest intraday trading prices before conversion) it is difficult for us to accurately quantify the number of shares that we will be required to issue upon such conversions. On April 30, 2010 the average of the three lowest intraday trading prices for the common stock for the prior 20 days was $0.002. [b][color=red]Using the April 30, 2010 numbers, if all of the debt were to convert to common stock, we would be required to issue approximately an additional 962,000,000 shares, which would exceed the number of shares currently available for issuance;[/color][/b] however, [u]there are certain limitations on how much can be converted at any one time.[/u] [color=red][b]The Board of Directors believes that it is in IAE's and IAE's stockholders' best interests to authorize it if it deems it necessary to increase the availability of additional authorized but unissued capital stock to enable IAE to promptly take advantage of market conditions and the availability of favorable opportunities without delay and expense associated with holding a special meeting of stockholders.[/b][/color] The Board of Directors has no immediate plans, understandings, agreements or commitments to issue additional shares of stock for any purpose not previously disclosed in the company’s public filings.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7269481
http://www.internationalaerospaceenterprises.com/index.php?option=com_contact&view=category&catid=12&Itemid=60
.....
