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Thanks Abdul for the post!!
It's hard to get financing in the US these days.
All should fall in place soon ...
Alex has many connections,knows alot of business people.
We will have to be very patient with this one !!jmo
Did your friend get info from alex?
Alex not scheduled to race till sept 21 .
He will have a couple of weeks to maybe take care of business!!
09/07/08 UK Ironman 2008
X
09/21/08 Long Beach Triathlon
X
09/28/08 Xterra Point Mugu Trail Run
X
Pink sheets has acmg listed under "deleted symbols".
Has anyone been in contact with Alex lately??
Hoping for action next month surely!! jmo
Is something up!!!!
I have been trying to buy all day. I have an order higher than the .0005 that was filled for 620000 shares and mine were not filled. Strange.....
September 1st could be an important day...
Innofone may need to fing financing by sept 1 2008.Maturity date on interest is sept 1 2008.
jmo
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On September 21, 2007, Innofone.com, Incorporated (the “Company” or “Innofone”) entered into an amendment (the “First Amendment”) to the Promissory Note (the “First Note”) by and between the Company and Dr. Uday Phatak, dated as of September 8, 2006. The First Amendment amended the following terms of the First Note: (i) the Maturity Date was changed to be September 1, 2008; (ii) the Interest was amended to equal 16% per annum, compounded annually; and (iii) all Principal and accrued and unpaid Interest shall be due and payable in one balloon payment on the Maturity Date. As consideration for the amendment to the terms of the First Note, the Company agreed to issue to Dr. Phatak 100,000 shares of the Company’s common stock.
On September 21, 2007, the Company entered into an amendment (the “Second Amendment”) to the Promissory Note (the “Second Note”) by and between the Company and Joe Mandell, dated as of August 30, 2006. The Second Amendment amended the following terms of the Second Note: (i) the Maturity Date was changed to be September 1, 2008; (ii) the Interest was amended to equal 16% per annum, compounded annually; and (iii) all Principal and accrued and unpaid Interest shall be due and payable in one balloon payment on the Maturity Date. As consideration for the amendment to the terms of the Second Note, the Company agreed to issue to Mr. Mandell 100,000 shares of the Company’s common stock.
On September 21, 2007, the Company entered into an amendment (the “Third Amendment”) to the Promissory Note (the “Third Note”) by and between the Company and Sterling Trust Company, Custodian FBO: Joseph David Mandell, dated as of August 30, 2006. The Third Amendment amended the following terms of the Third Note: (i) the Maturity Date was changed to be September 1, 2008; (ii) the Interest was amended to equal 16% per annum, compounded annually; and (iii) all Principal and accrued and unpaid Interest shall be due and payable in one balloon payment on the Maturity Date. As consideration for the amendment to the terms of the Third Note, the Company agreed to issue to Sterling Trust Company, Custodian FBO: Joseph David Mandell 150,000 shares of the Company’s common stock.
On September 21, 2007, the Company entered into an amendment (the “Fourth Amendment”) to the Promissory Note (the “Fourth Note”) by and between the Company and Doug Mandell, dated as of September 1, 2006. The Fourth Amendment amended the following terms of the Fourth Note: (i) the Maturity Date was changed to be September 1, 2008; (ii) the Interest was amended to equal 16% per annum, compounded annually; and (iii) all Principal and accrued and unpaid Interest shall be due and payable in one balloon payment on the Maturity Date. As consideration for the amendment to the terms of the Fourth Note, the Company agreed to issue to Mr. Mandell 150,000 shares of the Company’s common stock.
Innofone's CEO keeping very busy....
Unfortunatly for us it is racing and not in the business part!! He seems to be doing very well. Hopefully that regained health and energy will give him new ideas to reach his business goals also!! You would think all the knowledge and business connections Alex has , he should be able to make a good business deal for innofone sooner than later!! JMO
Alex Lightman Race Category Date
2 OBRA Criterium Championships Senior Men Cat 4/5 08/17/2008
1 Swan Island Criterium Men 5 08/16/2008
1 Fast Twitch Fridays Sprint B 08/01/2008
18 Alpenrose Thursday Series: July Series Cat 4 07/31/2008
3 Vancouver Courthouse Criterium Men Category 5 07/27/2008
10 OBRA Track Championships: Sprints Men Category 3 07/12/2008
5 OBRA Track Championships: 1 Kilometer TT Men Category 4/5 07/11/2008
1 Alpenrose Thursday Series Men Category 4 07/10/2008
2 State Games Track Category 4 Men 07/06/2008
4 OBRA Junior and Team Event Track Championships Men Team Pursuit 07/05/2008
7 OBRA Junior and Team Event Track Championships Men Team Sprint 07/05/2008
2 Alpenrose Sixday: Omnium Cat 5 Men 06/26/2008
1 Fast Twitch Fridays: June Series Novice Men 06/20/2008
2 Fast Twitch Fridays Novice Men 06/20/2008
2 Alpenrose Thursday Series: June Series Men Category 5 06/19/2008
1 Fast Twitch Fridays Novice Men 06/13/2008
3 Alpenrose Heartbreaker '08: Points Races Category 5 Men 06/08/2008
1 Fast Twitch Fridays Novice Men 06/06/2008
15 Fast Twitch Fridays Novice Men 05/30/2008
4 Fast Twitch Fridays Novice Men 05/30/2008
7 Alpenrose Thursday Series: May Series Cat 5 05/29/2008
2 Eric Kautzky Memorial Track Race Cat 5 Men B 05/03/2008
5 Alpenrose Thursday Series: 1 Kilometer TT Cat 5 05/01/2008
12 Piece of Cake Road Race Cat 5 Men 03/30/2008
Conference call tommorrow 9:00 am et.
OTTAWA, Aug. 13 /CNW Telbec/ - Allen-Vanguard Corporation (TSX: VRS) will
be releasing financial results for the third quarter ended June 30, 2008 after
markets close on Wednesday, August 13, 2008, and will be hosting an investor
and analyst conference call and webcast at 9:00 a.m. ET the next day.
<<
Date: Thursday, August 14, 2008
Time: 9:00 a.m. ET
Dial-in numbers: 1-800-591-7539
1-416-644-3427
Web access:
http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=2243780
>>
For those unable to listen to the call live, a replay will be available
for a two week period beginning at 11:00 a.m. on August 14, 2008. The replay
phone number is 877-289-8525 and the access code is 21280164 (pound key
alert for Imen on Sunday from WEBPRODS !!
Once again nothing is happening....
ABDUL, where is that email you said you would post?
The phone number on their website doesn't work!
They don't answer e-mails,they are not doing anymore summits.Does not look very good. jmo
Webprods still mentioning "imen".
Webmeter signal for today.TOFS,HGLC,BKMP,FFGO.IMEN.QMNM.Sinc
That was yesterday july 21....
just what i was thinking !!
Another week gone by!!!
When ???
Gifts usualy come at christmas.. I hope we don't have to wait that long...
Allen Vanguard, price target of $9.00..
Allen-Vanguard seen jumping 100% when orders come in
Posted: July 04, 2008, 10:17 AM by Jonathan Ratner
Market Call
While it may be a “show me” story right now, shares of counter-terrorism device maker Allen-Vanguard Corp. could jump 100% or more immediately if the company receives contracts as part of major anticipated programs, according to Versant Partners analyst Neil Linsdell.
The stock is down more than 50% this year as investors react negatively to disappointing guidance and uncertainty regarding military orders for the maker of electronic counter measures (ECMs) that combat weapons like improvised explosive devices (IEDs).
Allen-Vanguard continues to trade near $2.50 per share, but Mr. Linsdell continues to rate the shares a “buy” with a $9 price target, saying the shares are trading on ”extremely pessimistic assumptions” of less than $290-million in revenue next year, while the company has indicated more than $575-million.
His bullish forecast is also due to optimism that over the long-term, the company will have “great growth” from continuing demand for their products and services and that the stock will rise rapidly when formal announcements of major programs emerge. These include several ECM contract for Iraqi Security Forces and the U.S. Marines.
“In the long-term, we think the company is well positioned, with the right products and solid partners,” Mr. Linsdell told clients. “In the short-term however, investors will be cautious of claims of huge opportunities and upcoming orders for fear of program delays and revenue slippage.”
Jonathan Ratner
This was posted a few days ago.
Alex designed a building project..Could be a new direction for innofone!! Maybe not !! lol Maybe it's just Alex's new hobby.. jmo..
Professionals critique efforts produced in project seeking sustainable designs
POSTED: 04:00 AM PDT Monday, June 23, 2008
BY SAM BENNETT
Before designing a building in the Pearl District, Jamie Tausen studied the site and created an artifact.
“The artifact was used to explain our site concept, which we discovered in the site analysis,” said Tausen, a third-year architecture student at Portland State University. “Mine was a window into the historical continuum and the layers that make the Pearl what it is – the old, the malleable and the new – and everything that connects them together. Then on top there was room for a new layer in the Pearl, which was where my sustainable day-care center comes in.”
Her Pearl District building was an assignment for a hypothetical building that was the centerpiece of a design studio at PSU. Tausen and other architecture students recently presented their building designs to professors and design professionals at a critique hosted by Mahlum Architects. Jason Jones, an architect at Mahlum and adjunct architecture professor at PSU, said he invited designers and sustainability experts from around Portland to the critique.
“I want to expose the students to a professional atmosphere,” said Jones.
The living community assignment challenged students to design a community center in the Pearl on a half-block, vacant parcel at Northwest 14th and Irving. The community center had to have a sustainable component, such as a rainwater harvesting system.
“The premise of the studio I was teaching was how to shape a community using sustainable systems,” he said.
Jordan McComb incorporated a rainwater harvesting system and solar panels in his design of a Pearl District community center. The building would have high-end retail, befitting its neighborhood.
McComb said one criticism he heard was that the building’s “program was broken up too rigidly” and the community center needed to have more overlapping spaces. He was also advised that the building’s roof “fins” could accommodate solar panels.
Tausen designed a day-care center with sustainable components that would be centrally located so children could watch it work. In addition to solar panels, she would have a rain collection system that would provide water for the building’s toilets. It would also be used as irrigation water for plants.
“The kids would watch the action and also be able to help plant the plants,” she said.
Jones said the second-year students worked on the “living machine” projects throughout the spring. “I look at the studios as think tanks to solve theoretical problems,” said Jones.
Alex Lightman designed a center that revolved around cyclists – with storage for bikes, lockers rooms with showers and a velodrome on the top floor.
“I really enjoyed having critiques at [Mahlum],” said Lightman. “It allows us to get really good feedback by people who are actually getting things built in the industry.”
Both Tausen and McComb said sustainable buildings will be the goal of future designers.
“I think architecture is going to become more and more sustainable, as technology progresses,” said McComb.
Tausen said the “new generation” of buildings will have to be sustainable because of the economic effects of rising energy prices. “You can’t design a building without certain sustainable standards,” she said.
Should send IMEN this song...
"Let's give them something to talk about". lol
We are a very patient group.
So far !!
Imen is lucky to be holding around .004 with no news.
Many more exhibitions coming for allen-vanguard.
Should be over $3.00 soon. JMO
Allen Vanguard products are on display at trade shows, conventions and exhibitions around the world. Below is a list of events at which you can expect to find us.
Eurosatory 16 - 19 June 2008
Paris, France
--------------------------------------------------------------------------------
Joint CBRN Conference 23 - 25 June 2008
Ft Leonard Wood, MO, United States
--------------------------------------------------------------------------------
DVD Millbrook 25 - 26 June 2008
UK, United Kingdom
--------------------------------------------------------------------------------
M-ELROB 30 June - 3 July 2008
Hammelburg, Germany
--------------------------------------------------------------------------------
CBRN Reslience 8 - 9 July 2008
Cafe Royal, London, United Kingdom
--------------------------------------------------------------------------------
Fire Rescue International 14 - 16 August 2008
Denver, CO, United States
--------------------------------------------------------------------------------
NTOA 13 - 19 September 2008
Alburquerque, NM, United States
--------------------------------------------------------------------------------
Fire Rescue Canada 21 - 24 September 2008
Whitehorse, Yukon, United States
--------------------------------------------------------------------------------
CAPC 2008 24 - 27 September 2008
Montreal, PQ, Canada
--------------------------------------------------------------------------------
Ground Combat Vehicles 25 - 27 September 2008
Berlin, Germany
--------------------------------------------------------------------------------
Modern Day Marine 30 September - 2 October 2008
Quantico, VA, United States
--------------------------------------------------------------------------------
AUSA 6 - 8 October 2008
Washington, DC, United States
--------------------------------------------------------------------------------
IACP 2008 8 - 12 November 2008
San Diego, CA, United States
--------------------------------------------------------------------------------
MILIPOL Qatar 17 - 19 November 2008
Doha, Qatar
When was that e-mail from Alex received?
A month ago? Just a few days?
Just to give us an idea if it could be soon or more like maybe another month away...
Not sure if it has anything to do with IMEN..
Babe100.com is an online lifestyle magazine aimed at a male market of 14-26 year old males, the website was launched on the 19th September 2005. The aim was to be an online source for all the best looking female celebrities in the entertainment world, from television, movies and modelling and in order to produce a top one hundred chart officially produced by the public on a weekly basis, in order to produce the official yearly top one hundred best looking female celebrities.
Since the website launched it has taken time for the website to establish itself as an open source for some of the top professionals in the entertainment world but it now currently boasts page views of 2.5 million a month and climbing.
The site has suddenly become an ideal location for aspiring talent to begin their promotional campaigns in order to ascertain a worldwide web following.
We have an endless list of associates that we work with in order to ensure we only publish the best upcoming talent and current talent on the world scene on order to achieve our goals.
Our television department is currently in talks with a major global television network to start producing an entertainment show for 30 minutes once a night, which will feature celebrities upcoming music videos, films, premiers, babes out on the town and interviews with any babe voted into the babe100 top ten, it is likely this show will begin production January 2007.
Our second TV project is ‘Nominate your Local Babe’ the $1million search for the worlds next worldwide Superstar. A 10 month competition which will see the winner crowned at the ‘Cyn Awards’, the likelihood is for this competition to begin in 2008.
If you have any ideas for television shows involved with the female entertainment industry, please email info@babe100.com as we have numerous contacts which could thus be beneficial to both parties.
September 2006, sees Babe100 expand yet again as it extends into the web industry as a content management solution company, our aim is to provide the software for official websites for upcoming models, actresses and singers and a maintenance program log. All our content management systems will be built with the latest technology which is currently databases made using PHP and mySQL. We offer very competitive rates and great opportunities to get a high quality website for a specific field, which is babes.
Babe100 in the coming months will be re-built in by our new team of programmers and designers. By our technology department using 'Babe100 Technology.' This will be able to enable member interaction between fans and models via bulletins, and the arrival of the best photography in syndication due to our new sponsored galleries which will be sponsored in order to provide our fan base the top photography in existence. Exciting times are ahead!!
To discuss with the corporation of the opportunities above our lean how babe100 could work with your brand contact info@babe100.com and one of our Directors will get in contact.
© 2008 Babe100
This is very interesting...Same adress as innofone...
Check the company info on their website...
Babe100 will be opening its first office outside of London at 1431 Ocean Ave, Santa Monica, CA 90401, USA.
Okay you fabulous American Babeluvers see you there!
Are you a Classic babe?
Is your profile listed in classic babes?
Contact Alex Lightman - Responsible for the classic babes.
Could be a few years..
Thats why i say the future is now. Alex has the knowledge to achieve that title... jmo
Hopefully Alex will prove "chief executive magazine" right!!
The future is NOW!!!
Lightman is the author of the first book on 4G, Brave New Unwired World, CEO of an innovative wearable computer company, and chairman of 4G wireless and IPv6 conferences. In addition to overseeing operations at Charmed Technology, Lightman is or has been contributing editor to Red Herring magazine, Internet World and IntellectualCapital.com. Lightman was a keynote speaker at Internet World 2000 shows in Singapore, Sydney and New Dehli. He is a Senior Associate of the Foresight Institute and sits on the boards of three non-profit space-related organisations.
In its 20th anniversary issue Chief Executive magazine recognised Lightman as one of ten "CEOs of the Future"
Big news today again!!
Does that mean news will come very soon?
We will need help from our CEO to get this back to .01 !!
Not enough interest yet!! Hopefuly it will stay above the .004 mark till we get a PR.. jmo
Alex ran a marathon on Sunday..
june 1st. He is getting ready to run some more!!
Innofone CEO working very hard at getting his body and his business in shape..We just need to be a little more patient.
Should be worth the wait...JMO
This blog is a record of how I became an athlete as a teenager, then stopped working out for 25 years, and then started up again after experiencing stressful business setbacks. It includes my 101 day countdown to the UK Ironman and interim races and athletic events in between. It will be useful to those thinking about being more active and physical, and how rebuilding your body can provide ideas for rebuilding your business.
Imen on Buyins....
BUYINS.NET: DCFF, TWLO, WDAM, CPNEE, AURC, IMEN Have Also Been Removed From Naked Short List Today
Wednesday June 04, 2008 09:35:45 EDT
Jun 04, 2008 (M2 PRESSWIRE via COMTEX News Network) --
News today and just the beginning!!
BNN guest picks VRS-T ..
June should be a good month for Allen-vanguard.
Werner Muehlemann May 28
VP & Portfolio Manager,
ING Canada
Focus:
Top Picks:
ADF GROUP (DRX-T)
ALLEN-VANGUARD (VRS-T) .
Allen Vanguard will have a busy month of june...
GPEC 3 - 5 June 2008
Munich, Germany
--------------------------------------------------------------------------------
IABTI 36th Annual Conference 8 - 13 June 2008
Louisville, KY, United States
--------------------------------------------------------------------------------
AUVSI Unmanned Systems 10 - 12 June 2008
San Diego, CA, United States
--------------------------------------------------------------------------------
Eurosatory 16 - 19 June 2008
Paris, France
--------------------------------------------------------------------------------
Joint CBRN Conference 23 - 25 June 2008
Ft Leonard Wood, MO, United States
--------------------------------------------------------------------------------
DVD Millbrook 25 - 26 June 2008
UK, United Kingdom
Allen Vanguard will headline at the GPEC ..
Global security specialist Allen Vanguard's new Digital Vanguard will headline at the General Police Equipment and Conference (GPEC) from 3-5 June.
This new version of the Vanguard, which will be available for demonstration at the show, has been upgraded with a digital command console enabling 'plug and play' accessory functionality, intuitive control and full interoperability with its sister ROV, the BombTec Defender. The digital architecture means new devices can be added to the ROV network and controlled remotely without returning the ROV to the workshop and suffering downtime.
Combined touch screen and hard controls mean multi functioning is easy – for example, lights and cameras can be controlled while driving forward or the arm can be manipulated when steering. In addition, the hand controller can be removed from the console to provide limited functionality via Bluetooth – this is particularly useful for training, maintenance and driving the ROV in and out of its transporter.
Dean Boston, international sales director at Allen Vanguard, explains: "GPEC is the ideal exhibition for us to demonstrate our expertise and strong knowledge base in internal security and counter terrorism. It will enable us to network with end-users and discuss how we can help with their requirements in the future."
This was posted on friday.
Hope it happens today or tuesday...wed...soon !!!!
Buzzzz686zzzzzzzzzStocks ready to soar..IMEN ,EENT,TOFS,FRGY.
Good luck believers ....Sincerely .Mr.Webprods Teamzzzzzzz.
Is this good or bad?
Agreement To Terminate
the Software License Agreement
By and Among Innofone.com, Inc. and Semotus Solutions, Inc.
THIS AGREEMENT (the "Termination Agreement") is made as of April 30, 2008 (the
"Effective Date") by and between Semotus Solutions, Inc. ("Licensor" or
"Semotus") and Innofone.com, Incorporated ("Customer" or "Innofone").
WHEREAS, a software license agreement was executed on July 23, 2007 by and among
Semotus and Innofone (the "License"); and
WHEREAS, Semotus and Innofone desire to terminate the License and return to
Innofone all of the Innofone restricted common stock issued to Semotus under the
License.
Unless otherwise indicated, terms used herein that are defined in the License
shall have the same meanings herein as in the License.
NOW, THEREFORE, in consideration of the foregoing recitals and the covenants,
conditions, representations, warranties and other terms set forth in this
Termination Agreement, the Parties agree as follows:
1. The License is hereby terminated. Innofone shall promptly remove all
Licensed Software from all memory locations, return all copies of the Licensed
Software and Documentation to LICENSOR, and execute and deliver to LICENSOR a
certificate stating that all copies of the Licensed Software have been removed
and returned or destroyed.
2. Semotus shall promptly return and deliver 46,625,000 shares of Innofone
restricted common stock to Innofone, to the following address:
Innofone.com, Inc.
1431 Ocean Ave., #1500
Santa Monica, CA 90401
Attn: General Counsel
Each party has read, understands and agrees to the terms and conditions of this
Termination Agreement.
Accepted by
Semotus Solutions, Inc Innofone.com, Incorporated
By: /s/ Anthony LaPine By: /s/ Alex Lightman
Name: Anthony LaPine Name: Alex Lightman
Title: CEO Title: CEO
A healthy man makes healthy decisions.
Healthy business decisions is what imen needs.
He might be turning things around for the better~!!jmo
Check this out!!
Posted 2008-05-31 12:19 PM (#1435308)
Subject: Alex Lightman from Santa Monica, CA
New user
Posts: 3
Location: Santa Monica, California
Offline
Gold member Hello. Triathletes are my heroes. I don't know you, but I respect you.
My name is Alex Lightman and I live overlooking the pier and the beach in Santa Monica. I'm 6' and 46 years old and for 14 years I found the view from my balcony, and games and work on my computer, so interesting that I rarely went outside except for business. In September I found myself at 265 pounds, 35% body fat. I had lost a spectacular amount of money, and felt like killing myself, and thought that I should do it by running. I ran every day for at least three miles, and got my heart rate up to 220, according to the treadmill. (Garmin 405 only goes up to 250). After three weeks of this, I no longer felt like I was going to die or wanted to die, nor did I spend all my time beating myself up about the money. My shins and IT band were so sore that I couldn't continue running, but I discovered spinning and did that. I took a long business trip and helped close a large deal in the Middle East, but stopped running, and gained much of the weight I lost back again.
I started in January in earnest, and lost roughly 10 pounds a month by using MyFoodDiary, and limiting my calories to 1,200 a day at least five days a week, and doing at least 2,000 calories of exercise. In the first week of March I burned 25,500 calories in one week, mainly by spinning four hours a day. I had discovered yoga and pilates, and found that this, combined with massage and jacuzzi, could cause my shin splints and IT band stabbing pain, to go away. I did the 5K St. Patrick's Race, then went on another long business trip for April. This May (and today is the last day of May) I returned to road racing.
I ran the St. Patrick's 5K, the Santa Monica Classic 10K, the Xterra Malibu Creek 14 mile Xduro, and did half of the Xterra West Championships off-road triathlon after winning entry in a raffle at the LA Tri Club. I did the 1.5 km swim, but ended up only doing half the bike course before realizing I was badly sunburned (my number 358 is still, two weeks later, branded on my skin, the area around it a n angry red around white) and leaving the 18 mile mountain bike course in Temecula to seek shade. Last weekend I ran the Tough Topanga 10K on Saturday and the Brentwood 10K on Sunday. My chip time was 58:05, 2 1/2 minutes faster than my 10K just three weeks earlier.
Tomorrow I run the San Diego Rock and Roll marathon. Believe it or not, I'm aiming for my first half Ironman 70.3 on June 15 and my first Ironman on September 7. I'm now at 215 and 23% body fat (gained weight this week as I took it easy for the marathon) and aim to be 180 lbs. and less than 10% body fat by Sept. 7, if not months sooner. I intend to do 5-10 miles of swimming, 15 hours of biking, 60% of it indoors using spinning and PowerCranks on a spin bike, and 50 miles a week of running, plus five hours of Crossfit (hundreds of various intense exercises crammed into an hour). 50% of my running will be on treadmills, starting at 5 mph and then going up each 2 hours that I run (in 1 hour increments) by 0.1 mile per hour. Most of the rest of my runs will be trail runs because I'd like to do Xterra trail run and off-road triathlons when the new season starts.
My member page on LA Triathlon Club is filled out, and I have a blog about this at http://www.alexlightman.blogspot.com
My goal is to do my first marathon (in 31 years) in 5 hours or less, then reduce the time by 30 minutes each time I do it. My Ironman goal is to finish Sept. 7 in 16 hours or less (1:30 swim, 7:30 hour bike, and 6:30 hour run plus 15 minute transitions), and then take an hour off each Ironman down to 10:30 by Sept. 2009, which is my best guess for what it will take to qualify for my age group (45-49) for Kona.
I welcome communication, and appreciate the spirit of sharing information the fora here at Beginning Triathlete. You all seem to have created a great community of practice.
Cheers and great luck. I hope you reach all your goals.
Edited by lxlightman 2008-05-31 12:30 PM
Still no news. This is interesting..
Apr 09, 2008
What’s going on with the Aero Defence project?
Ever since company president Paul Colacci made the announcement last January that his company was negotiating with Cequent Towing officials to buy the former Hidden Hitch plant, there has been little visible progress regarding the venture.
Plans were to turn the former automotive towing parts manufacturing plant into a facility that would create a variety of armored vehicle types and styles for homeland security and first responder markets such as police departments, strategic sites, border patrol and ambulances.
It was expected that manufacturing operations would begin this April and the new company would hire 50 people immediately with plans for the workforce to double before the end of the year. Hiring was expected to start at the end of February with orientation and training to begin in March.
Now it appears that the project may be in jeopardy as the parent company Aerofoam Metals Inc., has apparently suffered an economic setback.
The company announced in an April 3 press release that “it is considering its strategic options including either the winding up of business operations or a conditional offer from a private group, that includes current management, to buy all outstanding shares of the company at $0.05 US per share in a going private transaction.”
The release goes on to say that Aerofoam Metals has been unable to achieve its operational and financial objectives partly as a result of a Securities and Exchange Commission (SEC) suspend trading order action against the company on June 13, 2007.
“Although the SEC released the company from that action on Feb. 6, 2008 the negative perceptions created by the order have hindered the company in its attempts to raise additional investment capital through the public markets and execute on its operational business plans,” the release stated.
The company goes on to say that the offer from the private group is conditional on obtaining financing, certain conditions that must be met by Aerofoam and the requisite regulatory filings and approvals being completed. The transaction, if approved, would be expected to close within the next six months.
This newspaper has regularly attempted to contact Colacci and Aeroform officials about their plans for the plant since the January announcement. To date no phone calls have been returned.
Claude Doughty is also waiting on a call from Aerofoam officials about their plans for the plant. The Huntsville mayor is frustrated at the lack of communication and apparent progress, saying that he is doubtful about the future of the project.
“I am pretty dubious about the chances of them coming forward. I haven’t been able to get any response. Given the timelines when they were first announced I am just not at all positive about this,” he said.
“Hopefully I am wrong. Hopefully they will turn it around but when you look at (the press release) I have really strong concerns. “
Parry Sound-Muskoka MP Tony Clement is one area official who has had communications from Aerofoam in the past few months since the announcement.
In an interview Monday from Calgary, Clement said Aerofoam representatives had told his office on Friday that the plans for the Huntsville operation were moving ahead.
However, since then, Clement has received the April 3 press release and now he has his own concerns about the project.
“I am hoping that everything is okay with them. But I guess the proof will be in the pudding. I did not talk to them (myself) but they assured they are still interested in Huntsville and they intend to move into the Cequent plant. I don’t know what that means but that is what they said.
“In this job you have to remain optimistic. I am concerned and I hope this will still transpire but I guess we will have to wait and see. I will keep my fingers and toes crossed,” he said.
In the meantime, resumes from prospective employees for the Aero Defence plant sit at the YMCA Employment Centre in Huntsville while officials wait for word from the company as to when they might be collected.
Nancy West of the employment centre said her group was initially asked by the town and Aero Defence representatives to receive the resumes soon after the January announcement by Colacci.
“I told the representative (from Aero Defence) that we can do job fairs and give you interview room space. They told us that collecting resumes would be a good start. They sent us the job descriptions and we have been collecting resumes since then. To date we have not received word as to when they will pick them up,” she said.
West would not say how many resumes the centre collected.
Doughty said the town is not going to sit back and wait for news from Aerofoam. He said he will work with the federal and provincial members to see if we can find another firm to come in and take over that operation.
“We can start look for other firms to go into there and in the meantime if they get their stuff together and make things happen, great. But I don’t think we can sit back any longer and wait for a phone call. They have to step up to the plate and I haven’t see that,” he said.