Solei Systems Inc. (fka SOLI)

[EdF]

The good news this go around is that the RM into the shell is already completed and the exchange for XSVT shares for SOLI shares does not appear contingent on the filing of the elusive annual report.

“That distribution will be undertaken as soon as the shares of XSVT held by the Trust are registered in an S-1 or other appropriate registration statement by XSVT.”

As an aside, this is rather interesting. I assume they have been able to achieve this by having limited expenses based on what we’ve seen earlier with their revenues.

“In addition, our current level of activity and existing pipeline of signed and pending contracts is expected to generate sufficient revenue to achieveat least operational breakevenby the end of this year.”