Aero Performance Products Inc (fka AERP)

[Jang-A-Lang]

I guess the 7 million dollar tax write off isn't worth anything, nor is the current worth of FCCN.....


http://knobias.10kwizard.com/filing.php?repo=tenk&ipage=4985602&doc=1&total=&back=2&...
Liquidity and Capital Resources

The Company’s financial statements present an impairment in terms of liquidity. As of June 30, 2006 the Company had no current assets and the Company’s total assets exceeded total liabilities by approximately $33,956. The Company has accumulated $7,188,124 of net operating losses through June 30, 2006, which may used to reduce taxes in future years through 2023. The use of these losses to reduce future income taxes will depend on the generation of sufficient taxable income prior to the expiration of the net operating loss carry-forwards. The potential tax benefit of the net operating loss carry-forwards have been offset by a valuation allowance of the same amount. The Company has not yet established revenues to cover its operating costs. Management believes that the Company will soon be able to generate revenues sufficient to cover its operating costs resulting from the share exchange agreement with Aero Exhaust. In the event the Company is unable complete the share exchange, or in the event Aero does not sustain cash flow positive operations, and if suitable financing is unavailable, there is substantial doubt about the Company’s ability to continue as a going concern.