Aisystems, Inc. (fka ASYI)

[Fonzy35]

" a DEBT-FREE shell for KoolTel!! :)" Thanks for the info

Quote:
On March 13, 2012, the Company divested its subsidiary AIS pursuant to a Stock Transfer Agreement (the “STA”) with Rocmar Farms Limited (“Rocmar”). The STA provided for the Company’s delivery of all of its AIS shares to Rocmar in exchange for Rocmar’s delivery of a promissory note payable to the Company in the amount of $100,000. The STA also provided that the Company agreed to be responsible for certain liabilities (approximately $3,130,000 of notes and loans payable, including approximately $1,976,000 due to the controlling stockholder of the Company, and approximately $2,004,000 of accrued compensation) of AIS.


$100k + $3.13M + $1.976M + $2.004M = $7,210,000 for divestiture.
Current Liabilities are $7,015,226 (not incl notes payable).

I make that a DEBT-FREE shell for KoolTel!! :)