AECH Update
As you know, I had posted yesterday that I had left a message for Mr. Diego Gomez, (hereinafter referred to as DG,) CEO of AECH.
Late this morning, I had not yet received a return call from him, so between my incredibly boring but necessary meetings today, I called the Miami offices of AECH to reach him.
Upon answering my call, the lady assistant told me that she was going to call me today and that DG had directed her to refer me to Mr. Jaime Gomez,VP of AECH, (hereinafter referred to as JG,) at the Company's offices in Ecuador. She placed me on hold for a short time, and JG came on the line.
I am not being impolite using initials here in place of names, I feel it necessary as there are several Gomez names associated with the Company and it will prevent confusion.
Diego,(DG) and Jaime(pronounced Himee) Gomez,(JG) are brothers.
I informed JG that the AECG's Miami office had told me yesterday that he was in Ecuador, he told me he indeed was in Ecuador presently and that the Miami office had connected up via VIOP. Well folks, I will leave that to you what that is, this VIOP, but it was pretty impressive to call a Miami office and get immediately connected to a person in Ecuador and hear him perfectly well.
I had thought before I began my conversation, that I needed to be careful with my questions, as I don't wish to compromise one of my original, seemingly accurate sources.
I explained to JG that I am collecting information for an investors group that is gathering data about AECH, their operations, and future growth plans.
I asked him, at this point, what would he consider to be AECH's most well known client(s), he replied that at this point, the banks they have signed up.
Thus far, they have not signed any very high profile banks, but were in discussions with large ones. They are also in discussions with several Governments, including (but not limited to) to their respective defense departments for the biometric side of the business.
Apparently, they have some proprietary technology that can be used for positive identification, these processes may be utilized for personal id, and this greatly increases security for military applications, this also can be used for the prevention of fraud involving websites, credit cards, Government assistance programs, corporate security and so on.
He told me they have clients and revenue, some of the client list has been disclosed to the public. (as we know from AECH press releases). They have full time employees that are utilized for marketing, and training the staff of said clients utilizing their products.
I inquired about the attorney listed on the Nevada filings, Kenneth Eades. To me, this is one of the most important questions posed, as Mr. Eades apparently does not have a very good name in the public company arena.
JG chuckled and said that Eades has nothing to do with AECH, he merely was the attorney that handled the transaction between Mark Smith, and AECH officials. He seemed perturbed at Mr. Eades, so there must have been some disagreements involving the shell transaction. He did not expand on his opinion of Mr. Eades, it was not necessary, as I detected his tone.
He explained that Mr. Eades is not a director, or officer of AECH. His name was listed in the Nevada SOS documents during the shell transaction. JG informed me that AECH legal counsel, Mr. Joseph Emas of Miami, Florida, is in the process of filing the annual report with Nevada with the appropriate changes. Mr. Eades will no longer be listed in any AECH filings.
I also queried JG on AECH oil and refining ventures, he explained that this part of the business is going to take much longer to develop as there are many regulatory and environmental issues, governmental as well.
He commented about Venezuela being a thorn in many sides in that part of the world, and seemed to place some blame for the stymied progress in this area for the Company, but did not expand further.
AECH does indeed have rights and leases at several appropriate locations in Ecuador and other countries for refining facilities.
AECH is pursuing these avenues, but these activities will be slow going as compared to the ongoing and immediate growth of the Company's biometric and technology products.
I asked him if he knew the o/s and float of AECH, he said off the top of his head, he thought 85-90 m o/s, 2 m float, but said those are round numbers.
I asked if he knew if the Minnesota firm (that had given them cash for stock,) had sold their shares, he replied that he had heard the stock price was very low, so he assumed they had sold and the stock had dropped low as a result. He was surprised that I knew about the subject financing firm and the transaction.
I had him going a bit so I just decided to to break into a gallup and throw him a change up.
Keep in mind that his name is listed in the PR's as a the contact person, so he should have absolute knowledge as to all ongoing business concerning AECH.
I asked him, "so when are you going to announce the Costa Rica acquisition?"
He replied, "Costa Rica?" "You mean Texas?" "Soon"
He told me the first announcement would be a standard LOI release outlining the target and a period of due diligence for both parties.
I said, "I hear its a large one that involves stock and cash"
He replied, "Now you know I can't tell you that type of information now".
I asked him if there was any other developments involving AECH that he could share, he said "many things are going on and we will release news when we can".
As you know, I had received some independent confirmations of some type of large deal being contemplated, I felt there was enough evidence via the sources to warrant an alert to my close friends here on IHub. At that point, after the alert, the Ihub board was formed and it is providing this forum.
Now, if you will recall, (see Ibox posted yesterday) one of my sources, (the one that let the cat out of the bag yesterday about a merger/acq,) at the end of that call had told me he would refer my call for additional questions to a man on business for AECH in where?
Houston, Texas
He told me that this Mr. Vigelow (spelling) would call me, but he has not, at least up to now.
My guess is he won't, lol.
Thats what I have at this point folks, will update this subject if anything else develops.
