Replies to post #1209 on China Yida Holdings (CNYD)

[twk000jester]

I agree, I was reading the various AMY's SEC documents last night to see how all the other companies were related.

I'm thinking it's only general house-cleaning to cleanup the various company shells.....

(1) Convergix Inc. (100% owner of (2) & 53% owner of (3)
(2) Cynaptec Information Systems Inc. (R&D software) 47% owner of (3)
(3) InteliSys Aviation Systems Inc. (Marketing)
(4) InteliSys Acquisition Inc. (not-sure)
(5) InteliSys (NS) Co. (not-sure)

(1) No longer needed, this is the base of the 49 Original Investors.
(2) No longer needed, abandon March 31, 2001 and all R&D tax credits used during the development of the software.
(3) Maybe downsizing the Marketing segment into the Registrant.

It's only FREE money riding on AMY, so it's no big lost if I'm wrong...

[voyager80921]

I got a reply from Ralph almost immediately.. here is what he had to say...

You are correct in that IYSA is not filing for bankruptcy, chapter 11, or anything else of that nature.

Its Canadian subsidiaries have filed for 30 days creditor protection in order to restructure the debt of the Canadian subsidiaries - not bankruptcy.

Due to the speculative nature of the markets, the effect this will have on IYSA cannot be predicted with any accuracy.

We will keep all parties informed of the process as it proceeds.

Best regards,

Ralph