Unfortunately the Share Exchange Agreement could change all that.
But you are right, there is good news if people would read the entire filing.
There are conditions that needed to be met for this to happen. One was debt reduction.
"Aero shall have no more than one million dollars ($1,000,000) in notes payable with all other non-FCCN short and long-term debt obligations having been converted into Aero common stock prior to the exchange of shares. Evidence of such debt conversion shall take the form of an executed conversion agreement and release of claim."
So this means that the $19MM was reduced to at least $1MM through the share exchange agreement. This is not reflected in the financials since they only are for the first half of 2007.
And also, they lien on the patent has somehow been satisfied per section 4.2(i):
(i) "AERO has good and marketable exclusive title to each of the Assets free and clear of all liens, charges and encumbrances of any kind whatsoever save and except those specified as “Permitted Encumbrances” on Schedule 4.2(i)"
The patent is an asset and is not listed in Permitted Encumberances within this section.
Those are just 2 that really jumped out at me and I am not done reading the whole thing yet.
AI
