Entire correspondance with Dan Mckinney, CEO of API:
"Carl,
Answers as below:
On 18 Jul 2008, at 1:37 AM, Piecemaker Properties wrote:
Hi Daniel,
Thank you so much for taking time to answer these questions. You candor and straight-forwardness are greatly appreciated. I intend to post these answers on I-hub unless requested by you not to do so. I have spaced out each question, so that you may hit 'reply' and "fill in the blanks" so to speak. I hope you find this format easy and expedient. If you like this system we can use it regularly.
1. Given that you not control the new auditors, what have you told them re: the time-line for completion of the Audited Financials and what was there response?
- We are currently interviewing CFO candidates to take over our accounting / audit duties. This is the most important step in becoming fully reporting and becoming current in our financials . I am not an accountant and don't have the time, therefore focus my energies on running the business. Once we have this person on board, we can start to give some dates.
2. How have we paid for auto cart? and what kind of income might we expect from just one installation? what are the factors you use in that estimate?
- we did not pay anything for the Autocart agency. They approached me due to my past achievements and successes here in Asia. The SM group who we will be meeting with is the largest Mall operators in Asia with tens of billions in revenue. Autocart will be able to capture around 1% of Mall income, and API will get around 10-15% of that.
3. On Whom, exactly, are we waiting for regulatory applications approval for MCRT? Has that entity given you any kind of time frame in which to expect the approval? What is our plan and best guess time-line once we have received that approval? Anything else you'd care to add re: Entellium?
- MCRT is currently undergoing a structuring. As this is a public company and the details have not been released, I cannot comment on this until completed as this is insider information.
re: Entellium
The company continues to grow and numerous large IT companies have made offers to buy the company. They are considering an IPO sometime next year and will decide in Q2-2009.
4. Has any deal been struck regarding the Beijing hotel property with Hilton? Will it benefit from the Olympics?
- I was able to get the property approved as a Holiday Inn Express with InterContinental Hotels Group! We want to flip it.
I hope this helps!
Dan
I know you are very busy, so I will stop there! If I may, I'd like to reserve the right to post more of these queries to you as they arise. I feel very strongly that this dialog will benefit us all!
Again, Thank you for the effort you place into these answers. I believe the transparency of your answers will greatly benefit the perception of ASPZ on this side of the Pacific.
Sincerely,
Carl Mueller aka "Piecemaker" "
