Aisystems, Inc. (fka ASYI)

[ucberkeleyboy]

Statement from a CPA on the debts of a shell company during a reverse merger:

"In general, the former shell liabilities are assumed by the reverse merging company. This is usually factored when the price for the shell and value of it is determined. There are many complexities when accounting for a reverse merger in a shell that had prior operations, but all historical information for the reverse merging company is considered for comparison purposes. They generally try to clean up the liabilities in a reverse merger by issuing shares of the new company in exchange for prior debts, which lowers the value of the shell."

So if the value of KoolTel is sufficiently large, the debt of the shell company (ASYI) may not even be an issue. The bigger picture could be so large in potential that the debt is only considered a minor issue.