Aero Performance Products Inc (fka AERP)

[Agent1107]

The Feb 2006 internal audit disclosed a
few alledged misrepresentations, and info
not previously disclosed in the Private
Offering Memorandum.
1. Mr Richards had a lien on all company
receivables.
2. o/s was somewhere between 6 and 7 mil,
not the 5,164,000 they stated.
3. BOD failed to prepare and/or file federal
or state tax returns throughout its corporate existence, thereby exposing the company and it's shareholders to significant tax liabilities and/or penalties.
4. Failed to make proper payroll withholdings.
5. Morgan-McClure contract not disclosed previously.
Contract terms resulted in substantial benefits to a
member of TTRHP's (AERO) Board of Directors.
6. Alledgedly used the Miller Trust fund money for
this Morgan-McClure contract, instead of for production
and distribution of the AERO product as they had
represented.