Saw Dan last week........
Forgot a lot of the questions you guys wanted asked a few weeks ago. But here's an update on Chariot:
The "7 to 10 day" deal in the PR re: the PA dealership MoA was put in there because the guy opening the dealership told Dan he woud have the document to him in two days. So Dan put a conservative 7 - 10 days in the PR, the guy got caught up in other things (including getting his BMW dealership in order) and hasn't sent the documents. Dan re-iterated that this delaership will happen, but certain things, like the other side doing things in a timely manner, is completely out of his control. He has been calling this guy almost daily to get the paperwork. This guy is prominent businessman in the Pittsbrugh area and is involved in several businesses, his sense of urgency is not the same as ours. Financing should come in when this is signed enabling Chariot to hire more workers and crank out more trailers.
He mentioned the Las Vegas dealership and said negotiations are ongoing. He also mentioned two other dealerships that they have begun negotiating but I can not say where they are other than "two southern states". Ken had told me about one they were negotiating at Daytona Bike Week, I'm not sure when they started on the other one.
Dan also mentioned that the CEO of another company contacted him and they began discussion on building a custom trailer for this company's vehicles (not motorcycles). This company mentioned Chariot in a PR (not by name - just as a "custom trailer company" or something like that). They are located in California. Can't say much more about it other than it's yet ANOTHER possibility for growth. It's conceivable that they could sell a trailer for every vehicle produced and they supposedly have $50M in orders (according to their CEO). Califronia is also a hotspot for motorcycles according to Ken and he was hoping to get something going there someday - this other company could be our "foot in the door".
The "manufacturing" is not technicaly dead but I sensed that the likelihood anything will happen there is very slim. Dan said that late last September or October, on the 28th of the month, all agreements were in place after they met here in the U.S. and the other side said they would have the signed documents to him on the first of the month. Then when they got overseas, their lawyers got a hold of it and butchered the agreements, Dan said they didn't produce a document based on what was agreed. This happened with some other guy than the one's we've been discussing here (Bradley Ray and Seamus Lagan), so there were a lot of people involved.
AFGP: Dan said it's possible that AACS can own "up to" 33% as PR'd with the emphasis on "up to". He also said that what a lot of people may be missing is that if AACS owns 20% of AFGP, they can report AFGP's financials on the AACS consolidated balance sheet. So not only will they own stock but AACS should benefit from reporting AFGP financials in AACS SEC Filings. He said that the 61 days after the filing is the earliest AFGP could begin trading but would be surprised if any trading took place on the 61st day. It's more likely trading would start early May if everything goes smoothly from here. They're still awaiting the ticker symbol and will begin printing certs when they get it. Trading will open the door to funding that will help them get up an running - they will be actively pursuing municipalities to license the process and lobbying for government grants, the funding will help them do that.
For those that care about IMW: Business has picked up a bit and they just renewed a contract with someone near the 7-figure mark.
AI
